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Forums - Gaming Discussion - So what is happening with Gamestop now ?

Bofferbrauer2 on 25 January 2021
Amnesia said:

If this french analyst is right, then it is wonderful and funny. According to him, it was a trap successfully done by a group of amateurs who made a coordinated operation to force more experienced investment groups to buy back at lost their positions*

*I don't know how you call this in English, when you sell in advance a stock you do not have, and you expect to buy it later at lower price to earn the difference.

I have never yet tried that, it scares me to play with stocks "from the future".

So some smarts amateur investors planned to make it explode by offering at the open some buy orders at 4 times the prices sometimes, they really triggered a move which forced many investors to buy back their position to desperately limit their lost.

https://www.youtube.com/watch?v=1vjYwBzWJWw

Might look up my post above, where I try to explain it as best as I can

Edit: Jim Cramer of all people is totally losing it over this:

https://www.msn.com/en-us/money/topstocks/jim-cramer-reddit-s-wallstreetbets-is-targeting-short-positions/vi-BB1d52w8

https://www.msn.com/en-us/money/topstocks/jim-cramer-says-wallstreetbets-reddit-has-altered-market-psychology/vi-BB1d56wG

Also just look how volatile the Gamestop share value is during the first video, jumping wildly between $79 and $85 during it. And I learned that Gamestop is not the only one, Bed, Bath & Beyond is also traded like Gamestop against short sellers, just at a somewhat lower level.

https://www.youtube.com/watch?v=nKNOgnDyvzk

Last edited by Bofferbrauer2 - on 25 January 2021

The Nintendo eShop rating Thread: http://gamrconnect.vgchartz.com/thread.php?id=237454 List as Google Doc:  https://docs.google.com/spreadsheets/d/1aW2hXQT1TheElVS7z-F3pP-7nbqdrDqWNTxl6JoJWBY/edit?usp=sharing

The Steam/GOG key gifting thread: https://gamrconnect.vgchartz.com/thread/242024/the-steamgog-key-gifting-thread/1/ 

Free Pc Games thread: https://gamrconnect.vgchartz.com/thread/248138/free-pc-games/1/

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VideoGameAccountant on 25 January 2021
theRepublic said:

It is a bubble. It has zero to do with the company, and everything to do with speculation.

https://www.vice.com/en/article/qjpx8w/how-chaotic-redditors-made-gamestop-stock-skyrocket-and-made-short-sellers-cry

It should be noted that it's also the reason Gamestop is so low. It has a short interest percentage over 138% (this is shorts to normal trading volume). So you also have a lot of people betting against Gamestop, more than what is reasonable. Wallstreetbets saw this and said "Hey here's how we can make some money."

Reddit did teach Wall Street and important lesson in how risky shorts are though. 



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Amnesia on 26 January 2021
Bofferbrauer2 said:
Amnesia said:

If this french analyst is right, then it is wonderful and funny. According to him, it was a trap successfully done by a group of amateurs who made a coordinated operation to force more experienced investment groups to buy back at lost their positions*

*I don't know how you call this in English, when you sell in advance a stock you do not have, and you expect to buy it later at lower price to earn the difference.

I have never yet tried that, it scares me to play with stocks "from the future".

So some smarts amateur investors planned to make it explode by offering at the open some buy orders at 4 times the prices sometimes, they really triggered a move which forced many investors to buy back their position to desperately limit their lost.

https://www.youtube.com/watch?v=1vjYwBzWJWw

Might look up my post above, where I try to explain it as best as I can

Edit: Jim Cramer of all people is totally losing it over this:

https://www.msn.com/en-us/money/topstocks/jim-cramer-reddit-s-wallstreetbets-is-targeting-short-positions/vi-BB1d52w8

https://www.msn.com/en-us/money/topstocks/jim-cramer-says-wallstreetbets-reddit-has-altered-market-psychology/vi-BB1d56wG

Also just look how volatile the Gamestop share value is during the first video, jumping wildly between $79 and $85 during it. And I learned that Gamestop is not the only one, Bed, Bath & Beyond is also traded like Gamestop against short sellers, just at a somewhat lower level.

https://www.youtube.com/watch?v=nKNOgnDyvzk

Ok, so it is a "short squeeze". It is very different in french so hard to guess (vente à découvert : VAD)



Amnesia on 26 January 2021

But why does not it stop ??

When it was at 37 already a week ago I was sure it was too dangerous to enter.



OdinHades on 26 January 2021

It could very well continue to rise until friday, this whole thing is totally out of control. Some hedgefonds are losing it already, making billions of losses every day. You could turn a profit even when buying at the current prices. But the risk is insanely high, so I wouldn't recommend it.

That said, I bought GME when it was at about 60 $. I did not see this whole thing coming though.



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VAMatt on 26 January 2021

The stock price is totally ridiculous. The options activity around the stock is also totally ridiculous. I looked at buying some puts yesterday, but there's no way to make any sense of any of the numbers. So, it's nothing but a straight up luck play.



Amnesia on 26 January 2021
OdinHades said:

It could very well continue to rise until friday, this whole thing is totally out of control. Some hedgefonds are losing it already, making billions of losses every day. You could turn a profit even when buying at the current prices. But the risk is insanely high, so I wouldn't recommend it.

That said, I bought GME when it was at about 60 $. I did not see this whole thing coming though.

I will definitely not, it is again my strategy. I wanted to take some at ~11 a month ago, I missed my buy by a few cents, but I would have sold it around 16-17 max.

I don't want this to be a random casino. I stay straight on my stabilized strategy.



green_sky on 26 January 2021

Tesla CEO Elon Musk kept GameStop (GME) frenzy going overnight, tweeting out "Gamestonk!!" in reference to the Reddit-led mass short squeeze. GME stock skyrocketed more than 40% overnight in still-massive trade. That's after soaring 93% to 147.98 in Tuesday's session, a record close. GME stock hit an intraday all-time high of 159.18 on Monday. GameStop is up 685% already this year.

Welp.



OdinHades on 26 January 2021
Amnesia said:
OdinHades said:

It could very well continue to rise until friday, this whole thing is totally out of control. Some hedgefonds are losing it already, making billions of losses every day. You could turn a profit even when buying at the current prices. But the risk is insanely high, so I wouldn't recommend it.

That said, I bought GME when it was at about 60 $. I did not see this whole thing coming though.

I will definitely not, it is again my strategy. I wanted to take some at ~11 a month ago, I missed my buy by a few cents, but I would have sold it around 16-17 max.

I don't want this to be a random casino. I stay straight on my stabilized strategy.

Sounds reasonable, then again, this is a chance that comes maybe every ten years or so. So I'm willing to throw some money at it that I don't need and won't miss no matter what happens.



Official member of VGC's Nintendo family, approved by the one and only RolStoppable. I feel honored.

Alby_da_Wolf on 26 January 2021
Amnesia said:
Bofferbrauer2 said:

Might look up my post above, where I try to explain it as best as I can

Edit: Jim Cramer of all people is totally losing it over this:

https://www.msn.com/en-us/money/topstocks/jim-cramer-reddit-s-wallstreetbets-is-targeting-short-positions/vi-BB1d52w8

https://www.msn.com/en-us/money/topstocks/jim-cramer-says-wallstreetbets-reddit-has-altered-market-psychology/vi-BB1d56wG

Also just look how volatile the Gamestop share value is during the first video, jumping wildly between $79 and $85 during it. And I learned that Gamestop is not the only one, Bed, Bath & Beyond is also traded like Gamestop against short sellers, just at a somewhat lower level.

https://www.youtube.com/watch?v=nKNOgnDyvzk

Ok, so it is a "short squeeze". It is very different in french so hard to guess (vente à découvert : VAD)

"Vente à decouvert" (same as Italian "vendita allo scoperto") should be "short selling".
"Short squeeze" is a thing that actually goes against short sellers, making them lose money. It can happen because too many investors independently go against short sellers bet to make the price of a stock drop, but in this case it was a coordinated effort made by a large enough group of angry young investors precisely to hurt speculators and possibly make money at their expense in the process.

https://en.wikipedia.org/wiki/Short_squeeze



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