Some stocks are simply trading vehicles, especially in frothy times. There was a stock a few of us were trading at the end of the tech boom. Was called XLE or XLA, traded on the old AMEX. It ran like a scalded dog many days. You could buy as it came out of a flat base in the morning and have a 3-5 bagger by lunch. It traded like a hot assed tech. One day I looked up the financials, it was not profitable and it was not a tech. If the income statement looked like crap, the balance sheet was a joke, like a couple of unprofitable offshore casinos. The company was a POS but we made thousands off of it, just going long.
GME up over 100%.... what is going on now?
- Thread starter Saltynuts
- Start date
The narrative has somewhat changed since the new board member Cohen (the Chewy guy) is pushing hard for them to move mostly to online. This will just give longs (not the retail chumps) additional reason to battle the shorts and will make it take that much longer before fundamentals win out. If there is a good potential short squeeze nobody cares about fundamentals.
What's your IRR on this trade? Let's confer.... yeah, you're proper f*cked. The world needs ditch diggers, too.
When it goes down to $20 a share I'll fill you in on that. I'll be sure and talk very slow, using very few small words so you understand. Dig that ditch, boy.
Oh definitely. In the most optimistic scenario is the stock is priced at $60. The current price is ridiculous. But what can you do the market is always right.
The current price is absurd, but there was a news release yesterday that Cohen is leading the move to online and that news will keep the bots working the long side for a while. Add in the large short positions, and it just a game of chicken at this point. JMHO.
https://finance.yahoo.com/news/gamestop-mania-returns-chewy-cohen-175436958.html