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GME up over 100%.... what is going on now?
- Thread starter Saltynuts
- Start date
So basically what you're saying here is this guy Cohen has the potential to be (or is) some kind of business prodigy based upon what he did at Chewy.
The other day he Tweeted a picture of a sock-puppet and the stock spiked north in a big way. Cute. Real cute. It worked. But there's only one Elon Musk, or for that matter, one Donald Trump. You don't move stock prices with a Tweet on Twitter in the real world. It would appear however that enough players out there are salivating for this, a new visionary savior. Dumb, but it is what it is.
I'm not taking anything from this man's accomplishments, he's a billionaire. But there is a world of difference between building a company like Chewy from the ground up at the exact right moment in time being somewhat of an IT geek.... and taking over a dinosaur business model with 5500 brick and mortar locations and all the associated legacy costs. Everything from wages, to rent, to utilities, to workman's comp,.... the list goes on and on. This is not even close to being an apples to apples comparison.
Plus.... how the f is he gonna turn the company around, when he's not even mentioned on their Wiki page aside from #102 in the footnotes.
https://en.wikipedia.org/wiki/Gamestop
Wtf is that about?
GME can't update their own wiki page!?
They're a $9B fortune 500 company that now has the alleged, 35 yo boy genius, that is going to engineer a multiple for the company that he achieved with an online dog food delivery company in his 20's.
Its bs.
I don't buy it.
Again.... I point out the legacy costs of this operation. 5500 brick and mortar stores. There's no need to dig any deeper.
If he does pull it off, he will go down as one of the greatest businessmen of all time.
In summary, I am 100% convinced the financial world has lost its collective mind.
you might be right but the situation at GME is different than all the other short squeezes : there is real fundamental change on the horizon. It may or may not work but the stock should reprice from before there was that fundamental change.
It spikes again today. There are 45mm float out there. Assume we have 5mm held by passive ETFs, 5mm held by funds that for some reason is not going to sell. 1mm retails hold 10 each which is 10mm shares. Currently short interest is around 15mm shares. That leaves 10mm shares. Which means if they buy 5mm shares more this thing could go to $800 again. Honestly with the new stimulus check I don't know what will happen to this stock.
It spikes again today. There are 45mm float out there. Assume we have 5mm held by passive ETFs, 5mm held by funds that for some reason is not going to sell. 1mm retails hold 10 each which is 10mm shares. Currently short interest is around 15mm shares. That leaves 10mm shares. Which means if they buy 5mm shares more this thing could go to $800 again. Honestly with the new stimulus check I don't know what will happen to this stock.
Fuk, you called it. Fuker is over $180 now. Fuk fuk FUK.
Right after you cover.Over $190 now will it EVER stop???
If it hits 200, I'm adding $5,000 worth of shorts. Then for every other 100 points it hits to the upside another $5,000 worth of shorts. I'm here to take scalps, not get scalped. And I'm making a motherfuking Noah's Ark made out of motherfuking scalps...
Is this still your plan?
What are the chances of GME crossing $2000?It spikes again today. There are 45mm float out there. Assume we have 5mm held by passive ETFs, 5mm held by funds that for some reason is not going to sell. 1mm retails hold 10 each which is 10mm shares. Currently short interest is around 15mm shares. That leaves 10mm shares. Which means if they buy 5mm shares more this thing could go to $800 again. Honestly with the new stimulus check I don't know what will happen to this stock.