GameStop - GME - Share Chat

It isnt about being optimistic, this is about understanding the market and what’s causing a short squeeze. Freetrade should understand the current issue and the fact that gme might squeeze past the 25k limit which will then be a problem when having to liquidate hundred of shares.

Edit - plus the limit order set up it has to be within 200% of the latest price, freetrade also doesn’t provide live pricing which is another issue when setting up sell orders.

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To be fair, even with a short squeeze situation, it is being optimistic.

Don’t listen to anyone trying to tell you GME isn’t a good stock to buy and hold at a price that you’re happy to purchase it, because we’ve seen the swings over the past few months which’ve made those who’ve believed in it some serious realised/unrealised profit. But also don’t listen to anyone telling you it’s certain to reach truly astronomical highs and then hang everything on their possibly-fatally-flawed independent research.

It’s a wild ride, and I too hope selling restrictions aren’t an issue for anyone in any case; the fewer user restrictions generally the better for me, regardless of any dream squeeze scenario, so I’ll always support calls for big positive (optimistic!) changes to be seriously considered by the platform. I’d be careful about any bold claims of “understanding the market” though, haha

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If GME reaches $25k or $500k or $1million, then the stock market has got some serious problems. The amount of money that would be required to cover those amounts have to come from somewhere, meaning that there would be a massive sell off of other stocks across the board to cover it, one that would make the recent Archegos fire sale look like a yard sale/bootfair.

I own a few GME shares, but I’ll be happy if it reaches $500.

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This is something stuck in my mind :+1: Many act as if it will only mean a few rich people lose out but in reality it will have far reaching effects that many won’t see until it happens. God only knows what they will be.

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I have a few shares on different platforms and have already made my money back and some decent profit so letting them ride out to where that may be.
Yes I think 25k ect are wild valuations but at the end of the day is it so hard to believe that greedy wallstreet financial institutions would be behind a market crash or need bailing out to cover their shorts?
Its seems crazy but they will need to cover them, and as the supply goes down the price will go up.

With the AGM announced for June there will be a share recall for voting rights this needs to be done a certain amount of time before the the AGM 60days notice i believe I read somewhere.

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GameStop plans 1billioncstock sale according to yahoo

Just an updated for their filing last year. Nothing news. They also stated this on their 10K. To me this is a super bullish sign

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“S&P expects GameStop’s cash balances to be well in excess of its funded debt, which should provide it with additional runway to complete its business transformation. Equity offering should provide the company with an improved cushion to execute its business reinvention strategy”

How’s everyone feeling about this stock these days? Been a bit stagnant lately, excitement seems to have faded out :see_no_evil:

That’s how they shake out of their predicament - kill the hype (which has admittedly gone beyond crazy levels, even speaking as a GME ‘supporter’), make it a pretty boring “boomer”-style stock with controlled dips & peaks but mainly trading sideways, the impulsive yoof lose interest in time, more people take their money out at a small profit/loss just to free up capital when the promised moontrip doesn’t materialise in the tmeframe they were led to believe it would, ample opportunities open up to close short positions over the followiing weeks/months (should they want to, they might short a bunch more if they’re feeling cocky again).

The best thing for everyone in retail who wants to make decent money having invested in GME is to regard it as a long-term (as in held for years) holding, but just keep an eye on it and enjoy the ride. The ‘enemy’ will have absolutely no problem with using all facets of the reddit hype against retail investors, setting traps and making bank on any significant movement either way (that’s kind of their job, or at least the algorithms they employ).

The company will do its utmost to grow, and will likely still benefit from an unusual level of retail investor support even once any squeeze situation has run its course, so just relax and make peace with the possibility of either having that money tied up for some time, or making a realised loss/not-so-exciting profit if you can’t.

Lacking the patience required to see this thing through will play right into the shorters’ hands, and I’m sure their strategists know it has a decent chance of success if the wave of interest in it passes soonish for the majority. Only if the vast majority of holders were stubborn beyond all expectations could that backfire (and I don’t mean to the tune of $10m per share or whatever the fantasy figure is now)

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Ryan Cohen has just been made chairman of the board:

https://investor.gamestop.com/news-releases/news-release-details/gamestop-announces-slate-director-candidates-2021-annual-meeting

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We are all holding and waiting. Shorting has not been margin called yet.

Edit: btw, hardly anyone is selling, and all the DTCC and SEC rule changes are making sure the fallout doesn’t hit everyone.

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As a shareholder of GME, how can I ask FreeTrade to recall my shares? As I believe we own the asset on Freetrade unlike some other brokers.

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I have asked the same thing.

I’m pretty chipper about the whole thing. Waiting is part of the game. I’m happy to wait for the turnaround if the squeeze comes to nothing. Intuitively, though, I still think the signs point to a squeeze.

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How did you ask? Message through the app? Did you get a response?

They only just created an account so must be app.

Anyone know if owners of GME get voting rights on Freetrade? The GME share recall is on with the “record date” being 4/20. (Also nice to see that the meeting is on 6/9! Well played, Gamestop! :rofl:)

Looking up share recalls, it’s important to ensure all GME shareholders make sure the stock hasn’t been loaned out to shorters:

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I asked free-trade and got this response.

  1. Our shares are not lent out to anyone.
  2. We will not be able to take part in any shareholder voting (but they are looking into it for the future)

Hope this helps.

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