GME up over 100%.... what is going on now?

Saltynuts said:
Why the fuk is it going up in a down market? It should be coming back down to reality...
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It should but it has been going up for a week on low volume, penetrating all the resistances. The only theory I have is the shorts are facing liquidity issues as the other positions gets hit.
 
Increased my short holding by 10%. I'm trying to increase my short by the same% the stock goes up (highest %age for the day). IB also has more than a million shares available to short as of now and the borrow fee is just 1.65%.

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Millionaire said:
GME rallying nicely while the market is tanking. Very bullish.

Looks like GME is now considered a flight to safety asset :D
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I heard it’s the new Bitcoin! I wonder if all the Ws Bets Gang own GME like Carl and his hedge fund buddies kept strangling Ackman on Herbalife?
 
Again, why play these peculiar stocks when you have more reliable plays like long energy stocks after Oil broke $62. Huge daily moves based on something real. I'd hate to have real money on the whims of an army of young traders with no fundamental basis to their trades.
 
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Nine_Ender said:
I'd hate to have real money on the whims of an army of young traders with no fundamental basis to their trades.
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That's what makes this trade interesting. No fundamental basis to long GME above $20. At $130, short is a no brainer. I don't want to have any regrets like "I could have shorted it when it was trading at 130" when GME is trading at $40 in a few weeks or months. Right now, the stock goes up every time some guy tweets a picture of ice cream or dog. Sure, the stock could go to $5000 in theory but I'm willing to risk it.
Also, the pleasure of parting money from fools is priceless (makes you feel smarter). There are people on WSB who are betting their life savings on GME $800 weekly calls.
 
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