[GameStop GME trading mega-thread]

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
elderwise
Posts: 412
Joined: Fri Jul 22, 2016 10:27 am

Re: [GameStop GME trading mega-thread]

Post by elderwise »

bugleheadd wrote: Tue Jun 08, 2021 9:37 am so the MOASS hasnt squozen yet? this is just the beginning?
Damn right 336 gme I don't know what's driving it to stratosphere but all memes are shooting for the 7th Heaven.

Meanwhile total markets are taking a break. I noticed my 3x tqqq fngu dip each time these memes shoot all a confidence ofcourse.
health teacher
Posts: 460
Joined: Sun Apr 06, 2014 7:27 am

Re: [GameStop GME trading mega-thread]

Post by health teacher »

bugleheadd wrote: Tue Jun 08, 2021 9:37 am so the MOASS hasnt squozen yet? this is just the beginning?
GME volume today is under 8 million so far. In January, I think volume was over 150 million. From what I read, people believe when the real squeeze happens, the volume will be very high for several days. This is not advice.

To me, it seems like the big whales who are short are trying to minimize losses and are also going to swallow the smaller shorts who may get liquidated in the nearish future.

From my experience watching the price, it will be extremely volatile during surges.
Last edited by health teacher on Tue Jun 08, 2021 5:10 pm, edited 1 time in total.
fwellimort
Posts: 717
Joined: Tue Feb 12, 2019 9:41 am

Re: [GameStop GME trading mega-thread]

Post by fwellimort »

I think some institution must have gotten margin called.

Look at GME BB AMC CLOV WKHS KOSS stocks.
They all shot up and crashed at the same time.

And then I looked at AMC for instance:
https://iborrowdesk.com/report/amc
At the same time, 3.2 million short shares got covered. And fee for borrowing AMC went down.
And not only that:
https://www.marketwatch.com/investing/s ... ote_switch
At the very same time, there was a spike of a bunch of 1 million AMC purchases + a 4 million AMC share purchase.

Everything points to a margin call. And before someone replies back "that was too small to be a margin call", let me just state that this level of margin call is probably in the magnitude of billions. That's quite a lot of money for an instant cover. Plus, the data actually points to shorts covering so there's that too.
health teacher
Posts: 460
Joined: Sun Apr 06, 2014 7:27 am

Re: [GameStop GME trading mega-thread]

Post by health teacher »

Its either a coincidence or $350 is a significant number. GME has been near or over $350 multiple times, but has yet to close above it and has been aggressively pushed down in both March and now June once it got around that number.

Q1 Earnings and shareholder meeting tomorrow... How exciting
Hyperchicken
Posts: 782
Joined: Mon Mar 02, 2020 5:33 pm

Re: [GameStop GME trading mega-thread]

Post by Hyperchicken »

Closed at exactly $300.00. And not for the first time. Fascinating.

I know you can always find pattern if you really look for one, even when it's not there. Still it looks pretty interesting how GME closed at nice round numbers for 3 trading days in a row in the past:

Jan 29, 2021 - 325.00
Feb 01, 2021 - 225.00
Feb 02, 2021 - 90.00
Aaand...it'sgone
Posts: 85
Joined: Sun Jan 31, 2021 1:37 pm

Re: [GameStop GME trading mega-thread]

Post by Aaand...it'sgone »

elderwise wrote: Tue Jun 08, 2021 9:39 am
bugleheadd wrote: Tue Jun 08, 2021 9:37 am so the MOASS hasnt squozen yet? this is just the beginning?
Damn right 336 gme I don't know what's driving it to stratosphere but all memes are shooting for the 7th Heaven.

Meanwhile total markets are taking a break. I noticed my 3x tqqq fngu dip each time these memes shoot all a confidence ofcourse.
So, we set up a hedge fund composed of GME options and TQQQ/FNGU?
xraygoggles
Posts: 143
Joined: Sat Sep 15, 2018 3:30 pm
Location: SoCal

Re: [GameStop GME trading mega-thread]

Post by xraygoggles »

I'm currently in orbit with CLOV WISH AMC

Any other astronauts?
elderwise
Posts: 412
Joined: Fri Jul 22, 2016 10:27 am

Re: [GameStop GME trading mega-thread]

Post by elderwise »

xraygoggles wrote: Tue Jun 08, 2021 7:51 pm I'm currently in orbit with CLOV WISH AMC

Any other astronauts?
Rolled my amc gainz into clov at 12 basis 1000 sh let's go.

Well seemingly it's a lottery where we keep winning maybe we did really find the penultimate winfall lottery ✋.

It's getting so crazy my friend joined in too sold his tqqq at gain Rolled into clov.

I also see no harm in doing this with 10 20 30k whatever you feel.comfortable losing all no way yolo 200k lol.. my 401k and other retirement is all 100% index funds all the way.
User avatar
JonnyDVM
Posts: 2954
Joined: Wed Feb 12, 2014 6:51 pm
Location: Atlanta, GA

Re: [GameStop GME trading mega-thread]

Post by JonnyDVM »

xraygoggles wrote: Tue Jun 08, 2021 7:51 pm I'm currently in orbit with CLOV WISH AMC

Any other astronauts?
Nope. But considering FOMOing in on WISH
I’d trade it all for a little more | -C Montgomery Burns
health teacher
Posts: 460
Joined: Sun Apr 06, 2014 7:27 am

Re: [GameStop GME trading mega-thread]

Post by health teacher »

Gamestop is up over 2000% so far in 2021
LeslieSmiley
Posts: 266
Joined: Fri May 08, 2015 7:43 pm

Re: [GameStop GME trading mega-thread]

Post by LeslieSmiley »

xraygoggles wrote: Tue Jun 08, 2021 7:51 pm I'm currently in orbit with CLOV WISH AMC

Any other astronauts?
Waving at you through the window of my AMC rocket that was launched at the beginning of this year. The view is quite breathtaking...*diamond hands*
LeslieSmiley
Posts: 266
Joined: Fri May 08, 2015 7:43 pm

Re: [GameStop GME trading mega-thread]

Post by LeslieSmiley »

health teacher wrote: Wed Jun 09, 2021 7:37 am Gamestop is up over 2000% so far in 2021
AMC YTD 2,385%
health teacher
Posts: 460
Joined: Sun Apr 06, 2014 7:27 am

Re: [GameStop GME trading mega-thread]

Post by health teacher »

LeslieSmiley wrote: Wed Jun 09, 2021 8:51 am
health teacher wrote: Wed Jun 09, 2021 7:37 am Gamestop is up over 2000% so far in 2021
AMC YTD 2,385%
I see 1,100% which is still huge and AMC did drop 10% today though so that could be a factor. I'm happy for anyone who invested in AMC this year though.

GME is 1700% so the math is probably effected by the January volatility. Anyways, it's been some awesome pandemic entertainment. I stopped watching Netflix because of it lol. That's bullish for movie theaters, right?

:wink:
LeslieSmiley
Posts: 266
Joined: Fri May 08, 2015 7:43 pm

Re: [GameStop GME trading mega-thread]

Post by LeslieSmiley »

health teacher wrote: Wed Jun 09, 2021 1:49 pm
LeslieSmiley wrote: Wed Jun 09, 2021 8:51 am
health teacher wrote: Wed Jun 09, 2021 7:37 am Gamestop is up over 2000% so far in 2021
AMC YTD 2,385%
I see 1,100% which is still huge and AMC did drop 10% today though so that could be a factor. I'm happy for anyone who invested in AMC this year though.

GME is 1700% so the math is probably effected by the January volatility. Anyways, it's been some awesome pandemic entertainment. I stopped watching Netflix because of it lol. That's bullish for movie theaters, right?

:wink:

AMC Entertainment Holdings Inc

49.34 USD
+47.33 (2,354.73%)year to date
Closed: Jun 9, 5:57 PM EDT · Disclaimer
After hours 46.98 −2.36 (4.78%)
NYSE: AMC

Yes, it’s certainly entertaining indeed and i bought them mostly for the same reason and i love movies so there you have it! :wink:
User avatar
JonnyDVM
Posts: 2954
Joined: Wed Feb 12, 2014 6:51 pm
Location: Atlanta, GA

Re: [GameStop GME trading mega-thread]

Post by JonnyDVM »

GME rocket sputtering. Someone pulled the string today.
I’d trade it all for a little more | -C Montgomery Burns
livesoft
Posts: 76567
Joined: Thu Mar 01, 2007 8:00 pm

Re: [GameStop GME trading mega-thread]

Post by livesoft »

That explains the drop in small-cap index funds today when the rest of the stock index funds are positive. I see that GME is the largest holding in VIOO / SPSM / S&P small 600 and was about 3 times the fraction of the 2nd largest holding, so the more than 20% drop in GME today will still leave it as the largest holding.
Wiki This signature message sponsored by sscritic: Learn to fish.
User avatar
gwe67
Posts: 873
Joined: Mon Dec 23, 2013 9:52 pm

Re: [GameStop GME trading mega-thread]

Post by gwe67 »

The chatter sure does die down when there's a 20% drop...IN ONE DAY.

The true value (pre price pump) of this stonk is probably around $5 a share. If you bought above this level, you are truly gambling.

Image
VTI 48%, VXUS 12%, BND 40%
parval
Posts: 63
Joined: Tue Oct 22, 2019 9:23 pm

Re: [GameStop GME trading mega-thread]

Post by parval »

gwe67 wrote: Thu Jun 10, 2021 1:16 pm The chatter sure does die down when there's a 20% drop...IN ONE DAY.

The true value (pre price pump) of this stonk is probably around $5 a share. If you bought above this level, you are truly gambling.

Image
you gotta stop looking at historical stuff and more at rockets, diamonds, and maybe hands
fwellimort
Posts: 717
Joined: Tue Feb 12, 2019 9:41 am

Re: [GameStop GME trading mega-thread]

Post by fwellimort »

I mean I did post that the 'old shorts' covered last week when AMC took a meteor like rise to $70+. The data is in public.

Then the votes came out and all the theories were shown wrong.
So ya, of course new shorts are going to come and take advantage of this.

Markets are not efficient. People shorting these meme stocks are about to make a lot of money.
Congratulations to them. :sharebeer

And GME is probably worth more than a few dollars now that it has no debt. But still, nowhere near the price it is currently and since there's so much liquidity due to 'paper hands', shorts are going to have a field day.
Weird cause if EMH is 100% true, none of this should be happening. But it seems there's basically "free money" on the table for many of these meme stocks going down.
Weird world we live in.

And somehow, the downward trend isn't "instant" like EMH would claim. It's not in 1 second. It takes a few days if not a few weeks/months from here on.
A slow gradual bleed down. I guess markets at end of day are traded by humans/bots, not all knowing entities. :D
Last edited by fwellimort on Thu Jun 10, 2021 1:48 pm, edited 1 time in total.
health teacher
Posts: 460
Joined: Sun Apr 06, 2014 7:27 am

Re: [GameStop GME trading mega-thread]

Post by health teacher »

gwe67 wrote: Thu Jun 10, 2021 1:16 pm The chatter sure does die down when there's a 20% drop...IN ONE DAY.

The true value (pre price pump) of this stonk is probably around $5 a share. If you bought above this level, you are truly gambling.
I bet you are wrong.
langlands
Posts: 1049
Joined: Wed Apr 03, 2019 10:05 pm

Re: [GameStop GME trading mega-thread]

Post by langlands »

gwe67 wrote: Thu Jun 10, 2021 1:16 pm The chatter sure does die down when there's a 20% drop...IN ONE DAY.

The true value (pre price pump) of this stonk is probably around $5 a share. If you bought above this level, you are truly gambling.

Image
Certainly the current stock price is a bit rich, but Gamestop raised $550 million in its April stock offering. It plans to offer 5 million more shares, presumably raking in another $500 million to $1 billion. That extra cash alone (essentially a donation from investors) is worth about $10/share.
xraygoggles
Posts: 143
Joined: Sat Sep 15, 2018 3:30 pm
Location: SoCal

Re: [GameStop GME trading mega-thread]

Post by xraygoggles »

JonnyDVM wrote: Thu Jun 10, 2021 12:15 pm GME rocket sputtering. Someone pulled the string today.
Merely a launch failure, my robotic friend.

Apes have been hard at work over the past month, but unfortunately, bananas have run out, and without sufficient sustenance for the trip, cannot resume at this time.
User avatar
JonnyDVM
Posts: 2954
Joined: Wed Feb 12, 2014 6:51 pm
Location: Atlanta, GA

Re: [GameStop GME trading mega-thread]

Post by JonnyDVM »

gwe67 wrote: Thu Jun 10, 2021 1:16 pm The chatter sure does die down when there's a 20% drop...IN ONE DAY.

The true value (pre price pump) of this stonk is probably around $5 a share. If you bought above this level, you are truly gambling.

Image
You guys keep saying $5, and yet I keep flipping GME and buying furniture 🤷‍♂️
I’d trade it all for a little more | -C Montgomery Burns
User avatar
gwe67
Posts: 873
Joined: Mon Dec 23, 2013 9:52 pm

Re: [GameStop GME trading mega-thread]

Post by gwe67 »

JonnyDVM wrote: Thu Jun 10, 2021 6:45 pm
gwe67 wrote: Thu Jun 10, 2021 1:16 pm The chatter sure does die down when there's a 20% drop...IN ONE DAY.

The true value (pre price pump) of this stonk is probably around $5 a share. If you bought above this level, you are truly gambling.

Image
You guys keep saying $5, and yet I keep flipping GME and buying furniture 🤷‍♂️
Report card is in....and down 27.16% today. Were you smart enough to sell yesterday??
VTI 48%, VXUS 12%, BND 40%
xraygoggles
Posts: 143
Joined: Sat Sep 15, 2018 3:30 pm
Location: SoCal

Re: [GameStop GME trading mega-thread]

Post by xraygoggles »

GME is not going below 150s for the forseeable future, AMC likely not going below 30-40s - something like 80% is owned by retail for both of these stocks.

Best way to play it is to, wait for it, buy low and sell high. I use options, but shares work just as well.
User avatar
Random Musings
Posts: 5990
Joined: Thu Feb 22, 2007 4:24 pm
Location: Pennsylvania

Re: [GameStop GME trading mega-thread]

Post by Random Musings »

xraygoggles wrote: Thu Jun 10, 2021 7:21 pm GME is not going below 150s for the forseeable future, AMC likely not going below 30-40s - something like 80% is owned by retail for both of these stocks.

Best way to play it is to, wait for it, buy low and sell high. I use options, but shares work just as well.
I remember people saying the same things about high flying tech stocks in the late 90's, and I'm not talking about the garbage ones like pets.com. Retail owned a large percentage of those stocks too, and they took a very large haircut.

For all the posters who are touting these big wins, I don't see much real time support of these trades. It's like Redditt thought is starting to seep into this board more and more. I look at the last string of posts, about 1,000% plus quick returns, bananas, launches and the like.

I'm starting to question the actionability of this thread.

RM
I figure the odds be fifty-fifty I just might have something to say. FZ
User avatar
JonnyDVM
Posts: 2954
Joined: Wed Feb 12, 2014 6:51 pm
Location: Atlanta, GA

Re: [GameStop GME trading mega-thread]

Post by JonnyDVM »

gwe67 wrote: Thu Jun 10, 2021 7:11 pm
JonnyDVM wrote: Thu Jun 10, 2021 6:45 pm
gwe67 wrote: Thu Jun 10, 2021 1:16 pm The chatter sure does die down when there's a 20% drop...IN ONE DAY.

The true value (pre price pump) of this stonk is probably around $5 a share. If you bought above this level, you are truly gambling.

Image
You guys keep saying $5, and yet I keep flipping GME and buying furniture 🤷‍♂️
Report card is in....and down 27.16% today. Were you smart enough to sell yesterday??
I sold a bit too early this time actually. Last week. Cost myself half a couch.
I’d trade it all for a little more | -C Montgomery Burns
seawolf21
Posts: 1021
Joined: Tue Aug 05, 2014 7:33 am

Re: [GameStop GME trading mega-thread]

Post by seawolf21 »

Just like .com. Trading on volatility. Rinse and repeat every time in swings up and drop. Strategy works well until it doesn't. Who knows when the bubble will burst.

Just don't bet more you can afford to lose. If you are going to max out on your HELOC, make sure you can still afford to pay it in the event it implodes.

Seems like the big winner is George Sherman with a 1.1 million shares parachute.
xraygoggles
Posts: 143
Joined: Sat Sep 15, 2018 3:30 pm
Location: SoCal

Re: [GameStop GME trading mega-thread]

Post by xraygoggles »

Unlike GameStop, AMC is actually using its meme-ness to its advantage:

"AMC shares were up more than 5% after S&P Global Ratings upgraded the company’s credit rating to CCC+ from CCC-, a two-notch upgrade that still leaves the company’s debt deeply in what is considered junk bond territory.

If AMC uses its recently acquired cash to pay down debt, refinances expensive debt incurred during the pandemic and sees improved theater attendance, it has “a path to a sustainable capital structure,” S&P said."

Too bad it popped again today, I was looking forward to reloading for the launchpad next week... c'est la vie.
User avatar
firebirdparts
Posts: 2557
Joined: Thu Jun 13, 2019 4:21 pm

Re: [GameStop GME trading mega-thread]

Post by firebirdparts »

let's face it, if you pay all your debts using "literally free money" then there's no more sustainable "capital structure" than that in the world. This is the same as saying water is wet. These companies have no need of debt the way companies do that actually have a future. I guess AMC can hang on 100 years, but I think hanging on is about all I would hope for. They aren't trying to offer a whole lot more, whilst our electronics and entertainment systems at home are growing by leaps and bounds.

It's pretty hard to go bankrupt when you're not in debt.
A fool and your money are soon partners
fwellimort
Posts: 717
Joined: Tue Feb 12, 2019 9:41 am

Re: [GameStop GME trading mega-thread]

Post by fwellimort »

It seems many of these institutions are losing money still.

Melvin Capital, Light Street Capital, etc. are posting losses last month.
https://www.ft.com/content/ca1090ba-c3a ... e0e01bb510

Mudrick Capital even with over $40 million in profit by dumping AMC (by getting AMC shares directly) + AMC bonds is also negative.
https://www.bloomberg.com/news/articles ... pId=google

What an interesting time we live in. How come the share price can never break past $350 even back in March.
Why is it when it goes right before $350, GME shares crash in price? Who knows. Wait till next week.

:sharebeer
Post Reply