It’s more the former than the latter, for those on here who are keen to see the limit raised as soon as possible. However improbable that may seem to anyone who is thinking of this just being like a ‘normal’ stockmarket event, and not an unprecedented situation in terms of the sheer scale of squeeze which could be on the cards (which is why it’s being requested to be sorted as a higher priority, because they have an sense of what might happen based on some independent research, but no one really knows for certain).
The biggest concern would be if sales are prevented completely on the app should it get “too high” and the traffic ramp up. The £25k limit is an extra inconvenience on top of that, because they’d have no choice but to sell in ‘smaller’ increments (and only being able to set a couple limit/triggered sales each at a time), and selling fractionally (to be able to get paid at the share price if it did surpass £25k by only selling part of a share) doesn’t work either, so there’s no way around it.
I’m sure it just all seems like cloud cuckoo land to someone who doesn’t have reason to believe this is going to be something never seen before in the market, at least to this scale, but plenty of outrageous historical events have been pooh-poohed by those just before it occurred, who couldn’t quite bend their logical brain enough to allow for the weirdo possibility. I’m just watching it play out with an open mind, I have no idea what exactly is going to happen =)
This is what happened last time, they mobilised the whole company to work all weekend to keep it online.
Having read about the previous short squeezes in the last 100 years (fascinating) it seems like the exchange would shut it down and negotiate a price or something if it truly was going above say $5000 a share.
If I was to guess I’d say a link in the chain whether that’s the FX, the bank, the stock exchange or some part will struggle and fall down. I know what the conspiracy would say but the whole system is outdated and rigged to begin with, the last spike proved that.
If you see a life changing number on the screen just market order it, thats my advice.
No but really the short squeeze is the only reason it would go that high obviously. There are those who believe $20 was significantly undervalued, DFV being the obvious, and they might be right purely if you believe it can become an online retailer and because most tech stocks are wildly overvalued. I imagine maybe $100-$200 is the ceiling there which is still down from now.
He was in at $4-5 which I think most would agree was undervalued. After WSB really got on board it had a massive run up to like $15,$16, $20 which is perhaps more ‘fair’. I think ~$40 is the strong bull case. I doubt many people really think $40+ is actually justified by potential earnings, rather they expect to find another buyer at a higher price.
It is likely to end up something of a film-worthy story when all’s said and done, whatever happens (at least for those that find these sorts of oddball ‘popular movements’ battling unscupulous market maker shenanigans tales interesting, anyway). I guess what’s left to decide from here on out is the overall tone of it; an implausibly triumphant & strange modern “David vs Goliath” fairytale come true? Or just ultra-cynical and laced with pitch black nihilistic humour?
Everyone can decide for themselves before it’s all done and dusted, but I’m just having fun spectating in the good seats (I’m not among those who’ve literally emptied their life savings into $GME though, bet that’s gona be some rollercoaster ride)
Nothing really has to make much sense under these conditions, and you can blame the predatory over-shorting practices of the ‘baddies’ for that. I know nothing’s as simplistic as it gets made out by those trying to keep the hype train rolling, but I doubt too many tears will be shed if the shorters do get obliterated in this.
The price will rise further just on the hype alone, but also likely see significant dips along the way. There are gamma squeezes to pop as well as the big short squeeze many are anticipating will send it to silly places (if the brief highs its reached already aren’t considered silly enough). I’m not writing anything off because the whole thing is insane anyway.
If we’re talking about fundamentals though, anyone who got in after it tanked start of Feb or thereabouts shouldn’t really be sweating too much about losing out I reckon; the company itself looks to be making all the right noises of late. Remains to be seen how things pan out of course, but they’re definitely looking to modernise and become genuinely competitive, as well as capitalise of this mad amount of publicity and public support that’s fallen into their lap.
Whatever you think about what’s going on or the mindset of those caught up in it all, these are certainly interesting times to be getting into stocks XD
We appreciate all the input. We plan to explore the operational and technical work that comes with increasing the limit. Please bear with us, we have a lot to do.
This thread ran its course, and there is the occasional rule 2 violation, so we’ll close it for now.
