GameStop Corp (GME) Share Chat

I hear on the grapevine that the stock is drying up in certain brokers worldwide

shorts

must

cover

I enjoyed reading about previous short squeezes but in most instances the exchange closed trading on that stock and helped negotiate a price that wouldn’t bring down the world economy.

If you think the canadian teachers fund etc aren’t cashing in when it hits 1000 a share, you’re mad (or blackrock etc). That kind of dump will slow the momentum and help shorts cover a fair whack, leaving retail holding the bag.

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I know a grand total of 7 people that have bought GME hoping to make many thousands a share but after speaking to them all they all said they would cash out at about 1-2k max. 2 said they would only sell a part to cover outlay but most want a very big profit before it collapse and they end up missing the boat.

I would say many will have points to sell at from 1k, 2k, 5k, 10k etc but with many selling at the lower end I do wonder how high it can actually go. Most people who talk the talk will see a free holiday or car and cash in :+1:

Institution or small funds will not be going for the stupid high jackpots but the kind of number that will solidify them for a long time probably in the ranges i mentioned as well.

I just hope it happens soon as it is getting boring now reading the same stuff including what I say :joy: :man_facepalming:

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Aye; as I’ve been saying earlier here, sadly I feel very much that the proportion - and thus the degree of actual influence - of “diamondhands” retail shareholders in this tale is considerably overstated, especially at this point.

It’s really troubling to me that there’s been this mass buy-in to the decidedly populist misleading notion promoted all over the shop that the reddit apes wield all the power here, that they can cut off all escape routes for the shorts and force the squeeze on their terms and schedule. It’s a hugely simplistic tub-thumping line that can be used to whip ordinary disaffected dreamers into a frenzy, basically create an army of unquestioning suckers. Sounds very harsh, sure, but even if retail did hold all the cards, in a proper intense short squeeze situation the number of shareholders who’d genuinely hold until their ‘$1m floor’ like they loudly proclaim online, or whatever the schtick is now, would be… not that many, shall we say.
There are a lot of wolves in sheep’s clothing looking to offload their bags in any scenario here, and not a single one of them is gona give a fuck that they made a fool of those who actually believed they’d diamondhand all the way out of some noble sense of internet cameraderie, and to stick it to the man. Greed is a real driving force here, and steadfast unity tends not to be a defining characteristic of such a sentiment.

The idea that no one in retail is selling is blinkered - I know for a fact that a fair number of investors have made some sort of exit after doubling/trebling their initial investment, and are now playing mostly with house money, and I know there’s a not-insignificant amount of scalpers circling like vultures and looking to profit from GME’s curious form of volatility through the options market as well as standard trades. Until that situation changes, the shorts can likely carry on indefinitely, unfortunately - there may well be some pressure points that occur now and then that might look like the beginning of a squeeze, but the “MOASS” would require such an ideal alignment of events to even be truly set up, let alone kick off, that its likelihood has been decreasing considerably over the past couple of months or so, not increasing as certain outlets would have you believe.

There’s more wishful thinking here than there is a bona fide prospect of anything genuinely momentous happening with $GME (only in an actual unprecedented short squeeze sense, mind you - the circumstances surrounding all this are already historically significant regardless, and will resonate through the markets, and politically, to some degree, no matter what happens), and I hope it doesn’t end too badly for most who are clearly very emotionally invested in it all at this point. And not just in an ethical sense for me (I’ve been getting huge snake-oil vibes from the various relevant subreddits and the likes since at least February), but because GameStop the company wouldn’t deserve a backlash, intentional or otherwise, from shareholders whose wildest dreams were shattered after being whipped up into such a frenzy - I hope they remain cool with being genuine long-term investors, because I feel that’ll be the most likely way most diamondhands end up in the green/breaking even or thereabouts. That would be a positive outcome, as long as they’re philosophical about it not having solved all their life’s financial worries in one fell swoop.

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To me, sadly, that’s what this entire saga boils down to - a group of cynical people are playing the crowd and very good at continuously generating outrage and new narratives about complex manipulations which mean the stock will always be going up tomorrow, not today. This has the positive effect for them of generating a crowd of people willing to boost the stock for them across the internet, but at this point they’re running out of stories, and surely those invested in the stock are running out of patience.

Very similar themes are playing out amongst SPAC investors, Bitcoin investors etc. As long as the bubble in the asset lasts, everyone is happy and willing to play along, but who is going to be left holding the bag? In the case of many SPACs that has already been shown to be retail investors. In the case of bitcoin miners, bitcoin derivatives and meme stocks personally I think it will also be retail investors in the long run too.

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Very true :+1: and people will only remember the “missing out” and the “winners” on the next big thing that comes along but have a blind spot to the many who lose out. I would hate to think how many have bought in too late and will lose money but I would guess most will keep that their little secret :man_facepalming: :joy:

The real money makers will be the ones in and out at the right times not the people who only got into finance during lockdown on Reddit (although some obviously will make money). I hope they do well but there is a lot of delusion that the world will collectively hold out for X amount in meme stocks or crypto will last forever when in reality they could plummet at any time as there is not much “real” value behind them.

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New poster but longer FT member here. I agree with a bit of each sides opinions on the squeeze, no one knows for sure where this will all end up. I’m curious about anyone’s thoughts on GME’s 12-36 month prospects. Do we see a successful pivot into e-commerce and if so what are your valuation estimates for 12/36 month timescales?

Whilst I’m not about to start calling anyone Papa I can’t imagine RC hasn’t gone into this with a plan in mind from the start. The man could have done anything.

I’m of the opinion that he’ll pivot successfully, and quicker than expected. From what I’ve seen with decision making, HR and their physical location overhaul I’m confident that post covid things will be brighter.

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I believe they are planning to issue more shares to cash in on the rise that’s already happened. I think that is the right thing for the company to do. it can give them a huge cash injection and should help them modernise the business. I think they have a great opportunity to turn things around.

Of course issuing new shares is exactly what the redditt crowd don’t want

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Do you think that’s necessary now after the previous 3.5mil shares sold?

Have they already sold them? I thought it was just a plan at the moment. I haven’t been keeping up :laughing:

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Yes, they raised 550mil and paid off all their notes leaving them plenty for the overhaul. The price went up on the news :slight_smile:

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Welcome :+1: I actually think that GME could come out of this very well. I have a small amount but will hold long term after selling half if my original price doubles so it effectively a free share.

I think they could do many really good things to bring long term gains but it will be interesting to see what happens as it could go many ways. Not sure how practical but I did think they could look at buying the actual shops they want or move into new bought shops so they then have lower overheads long term. Maybe not practical but I would like to see some thoughts along this method and another aimed at the newer modern online market.

My theory is that they need to keep brick and mortar shops to keep goodwill and people behind them but what do I know? :joy:

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I agree they have a tough question, do they help the APES or make new shares that help the business? On paper it is a simple question but maybe not as simple as it seems.

I think comparing a brick and mortar asset of $11 billion (GME) market cap with an industry of over $2 trillion (crypto) is fundamentally wrong. I believe cryptocurrencies have the potential to significantly change the world like the internet or the advent of car did in the past (I still remain conservative with only 20-25% of my portfolio in it).

Sure they are both popular on Reddit but GME is one off hype stock, whereas cryptocurrencies have being growing steadily in the last 10 years with many institutions jumping on the bandwagon and all major payment technology willing to adopt them.

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I get where you’re coming from and I imagine they’ll always have some ‘old’ style stores knocking about. I think the problem with buying anything is you’re then limited in scope by the size of the location. Amateur E-sports could become a massive part of future plans and that takes space. Will be fun to see the next move.

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Maybe they could make local shop/esport team/cafe/bar type business? They need to think a bit more but I do think bricks and mortar may make a comeback if done well. Many people do actually like going out :stuck_out_tongue_winking_eye:

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True but the bigger they are the harder they can fall :+1: Crypto is not going anywhere but there will be many that fail badly as there are so many now. It won’t be long before we have government crypto that is safe, regulated and harder for criminals to use.

There are so many ways that Dogecoin and the various other new entrants could suddenly plummet it should be a concern for investors. Not saying it will but there will be MAJOR new rules and regulations coming and that will affect the market volatility one way or the other.

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I think this for now and see it blowing up down the line with VR

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I think they could do places like the trampoline parks but for E-sports teams with a shop and various other money making parts. It is very different but I could see it working well. So I am thinking more shopping estates than high street :+1: