Bought 100 shares last year at 100 for $7.52. I ended up selling on Monday whrn it was around $110. Seeing the current price I should have waited but I am very very pleased regardless. ??

Hit a high of 355. Now trading at 270. Market cap up by $8 billion from yesterday.

Edit: Some WSBetters are saying not selling until 1000 lol. 

Seems like this should be illegal some how.

It sort of is.  You buy shares, then pump them up by false advertising in a public forum.  It's why you need to declare that you are a shareholder if you say xxx is a good buy.

In this case, because it's known that this is a Reddit-driven boost.  It's public knowledge so probably not fraudulent at that point.

It's a bit misguided to assume that this is going to harm long term investment banks and so forth.  They price shares according to the value of the company, which presumably hasn't changed due to this fluctuation.  They can sell their current shorts at a loss, and switch to longer term shorts in anticipation of Reddit getting bored in a couple of months....

Remember that a short is just a sale of something you don't actually own.  Like renting a game after release rather than buying, because you think the price will go down later (well, actually selling a game you rented and later buying a new copy to return to the shop you rent from).

Maybe. Only illegal when poor people do it. Market was deregulated by Clinton in 90's. Shit show every couple of years. 

Anyways GME is cool but today's stock is AMC. It is up 240%.

eaxctly, seeing people go hyped up by sticking it to the suits dont realise the term of these shorts, while 6b dollar loss for "hedgefunds"  seems cool thats only if they have to buy at this point in time

You'd be surprised at the number of people who look at an electronic screen that shows 10 shares, and assume that it means they actually own 10 shares.

What's really happening is a bank is showing you a number.  Maybe there's a share behind there somewhere, maybe it's just a screen showing you a number...

I doubt that many financial institutions at the moment are paying $300 a time for GameStop shares just to show you a number on an electronic screen...

Considering this illegal is like considering that Black holes are illegals, yet they exist.

Some of the kids are going to be worth 6 or 7 figures if they pull this off right. Some of their parents invested in some of these hedge funds that had been short betting Gamestop are going from millionaires to bankrupt. Those on wallstreetbets that trust everyone on reddit for too long are going to watch their new fortunes wiped away pretty quickly if they don't act at the right time. Crazy times going on these days in the market.

I can guarantee you that the banks are fully covered for this.  They'll just sell these kids imaginary shares and the kids will look at their pieces of paper and think they are worth cash.

Don't forget, while banks are quite happy to sell you imaginary shares, they are under no obligation to help you sell your imaginary shares.  Your ability to sell a $300 share (real or imaginary) is predicated on someone wanting to buy it for $300.  If there isn't someone currently willing to pay real cash for your imaginary share, then I have bad news about the value your investment...

All the bank needs do is buy insurance from a Hedge Fund.  There'll only be a problem if GameStop prices haven't gone back to a "sensible" value in time for Christmas Bonus.  

Christmas Bonuses aren't due for a while yet...