I don't trust GME. --If spooged out of nowhere at the 11th hour on WSB, catching most of the long-timers there by surprise. Now you're all up to your eyeballs in shares of this company, and the naked-shorters naked-shorted MORE at $400+.
It's back down under $50, and could be going back under $5 for all you now.
The stock-market is a pool hustle: they'll let you win for years, and then take it all back from you, and more, in one fell swoop.
The stock has been holding steady between $40 to $50 for over a week now, also it only came out of nowhere from your point of view as you weren't paying attention to Reddit, the whole thing with GME started months ago and it was only when the MSM started reporting on it that suddenly everyone and their brother was joining in. On top of that the WSB guy who did the analysis and ended up testifying in front of Congress just doubled down on his position last Friday even.
"It went to $5 because its the most shorted stock on the market."
Wrong. It stayed at $5 (instead of popping last summer) because it was the most shorted stock on the market.
It went to $5 in the first place because Gamestrop is a moribund Blockbuster clone whose shtick is games rather than videotapes. It was being shorted by the hedges not because they had any particular reason to hate that company, but because it was a turkey.
GME was mainstream news before the spike to $500/sh. They roped in a ton of suckers.
You wrote: "It went to $5 because its the most shorted stock on the market."
I responded "wrong", because that is a correlation/causation fallacy.
The only difference between Gamestop and, say, Hertz, is that Hertz actually declared bankruptcy. (And Robinhooders got FUCKING CREAMED on that one when it was delisted.)
I don't trust GME. --If spooged out of nowhere at the 11th hour on WSB, catching most of the long-timers there by surprise. Now you're all up to your eyeballs in shares of this company, and the naked-shorters naked-shorted MORE at $400+.
It's back down under $50, and could be going back under $5 for all you now.
The stock-market is a pool hustle: they'll let you win for years, and then take it all back from you, and more, in one fell swoop.
The stock has been holding steady between $40 to $50 for over a week now, also it only came out of nowhere from your point of view as you weren't paying attention to Reddit, the whole thing with GME started months ago and it was only when the MSM started reporting on it that suddenly everyone and their brother was joining in. On top of that the WSB guy who did the analysis and ended up testifying in front of Congress just doubled down on his position last Friday even.
Gme was a thing since sept 2019. It didn’t pop out of nowhere.
"It went to $5 because its the most shorted stock on the market."
Wrong. It stayed at $5 (instead of popping last summer) because it was the most shorted stock on the market.
It went to $5 in the first place because Gamestrop is a moribund Blockbuster clone whose shtick is games rather than videotapes. It was being shorted by the hedges not because they had any particular reason to hate that company, but because it was a turkey.
GME was mainstream news before the spike to $500/sh. They roped in a ton of suckers.
You wrote: "It went to $5 because its the most shorted stock on the market."
I responded "wrong", because that is a correlation/causation fallacy.
The only difference between Gamestop and, say, Hertz, is that Hertz actually declared bankruptcy. (And Robinhooders got FUCKING CREAMED on that one when it was delisted.)