GameStop seeks to split stock for the first time since 2007, shares jump nearly 17% in after-hours trading (nice jump 😉)
(www.marketwatch.com)
👀 EYES ON! 👀
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Shorting hedge funds will do everything they can to stop this split. This will be interesting.
Can u explain why a split would be bad for hedge funds?
This is actually not a split but a stock dividend, i.e. giving new shares to shareholders.
So, if you have naked shorted and created phantom shares, you have to come up with the stock-dividend shares for those phantom shares. (GME naturally only issues those dividend shares to the actual shares of the company.)
I’m not a professional in this field, but that’s my undertanding of the situation.
Edit: Tesla did this in 2020 probably in order to combat short sellers and their stock price went up 80%
Adding onto this, the price is up from 166 to 195 in after hours, and expected to go up further. Over 200 and things start to get spicy. If it gets over 350-400 we are in the same territory as the mini squeeze from last January where their only "out" was to have Robinhood turn off the buy button. Once it gets over this threshold it is likely to continue on up to infinity and we'll see some liquidations of hedge funds and banks that have massively over sold these shares over the past decade. GME is the most shorted stock in the entire market, and shorts have infinite risk.
Looks like they've been able to suppress it. Thinking it might take the actual issuance of the dividend to light the rocket boosters.
Right back to where it was lol.
Thanks for that I didn't get it. Knew people were saying they weren't going to like it but didn't understand how more stock would be bad for them.
Gotta get more crayons, guys!
You only need to "sell" one. Millions more are needed to prove they are selling fake shares, which is why so many have xx, xxx, xxxx shares. That's why they make a point to say they will wait for x shares to sell one first, then xx and then so on. The point is to for people to not end up greedy like what we are fighting against. I'm also an x holder and I am grateful for those who are able to buy way more than I. I'm a single father of 2 and would love to be able to provide more for my children 🙏 God willing 🙏
As they say... Dis is da wey
Yeah if each share is worth as many digits as a phone number like many say, there is not enough money in the world to pay off share holders. Price will rise, if it hit $400+ a share at one point and we could tinge to buy up more and register them, who knows.
I believed the squeeze already happened and we're living on dreams but with what happened the other day - people getting notifications of $500 per share and then the "glitches" (I believe buy button was deactivated for users on some platforms) and seeing it go from 160 to 190 yesterday and today it's right back to where it was just like that lol.
Wtf?
Any good Q deltas line up with yestrday or today with connections to gamestop?
I don't have an answer to your question, but wanted to comment that I believe this is part of a general population wake-up/response to corruption where the taking down of these bad actors will very likely have a bonus of lots of profit for the masses who are collectively exposing them and driving them into the rocky shores. It may not have direct Q connections (idk), but I have heard of this as a multi-stranded rope and GME is part of it. Posting this for the sake of any passers-by who haven't paid attention to GME.
All Aboard!
What does splitting stocks mean?
Instead of 76 mil shares, 532 mil are issued and every stockholder gets 7 shares instead of one. The stock price gets reduced to 1/7, accordingly.
But as said, this is gonna be a stock dividend, it's different.