GME up over 100%.... what is going on now?
- Thread starter Saltynuts
- Start date
https://finance.yahoo.com/news/gamestop-turnaround-artist-ryan-cohen-110014940.html
Fuking stock is up a good amount today. Fuk. I guess its based on that turnaround plan linked above. Which sounds like wishful thinking BS to me, and stock will retreat hard soon. What is everyone else's thoughts on it?
Thanks.
Fuking stock is up a good amount today. Fuk. I guess its based on that turnaround plan linked above. Which sounds like wishful thinking BS to me, and stock will retreat hard soon. What is everyone else's thoughts on it?
Thanks.
Gamestop sold their 3.5 mil offering:
https://news.gamestop.com/news-rele...stop-completes-market-equity-offering-program
Is that you stacking up sell orders on the level 2 Salty?
https://news.gamestop.com/news-rele...stop-completes-market-equity-offering-program
Is that you stacking up sell orders on the level 2 Salty?
This guy is blamed for just about everything these days.
https://www.bloomberg.com/news/arti...-back-to-life-with-gamestop-amc-catching-fire
https://www.forbes.com/sites/jemima...amestop-excitement-is-surging-again-on-reddit
Here’s Why GameStop Excitement Is Surging Again On Reddit
Jemima McEvoy
Forbes Staff
Business
I'm a British-born reporter covering breaking news for Forbes.
- management shakeup, the erasure of over $216 million in long-term corporate debt, a new lease on a 700,000 square-foot distribution warehouse and the doubling down of celebrity investor Keith Gill.
PROMOTED
However, this week’s boost in interest began on May 10, when the stock reached its lowest value in nearly a month ($143), as thousands of online investors gathered to praise the stock’s volatility as support for their thesis sellers will soon be forced to cover their positions and the stock’s value will shoot up.
Excitement was then further exacerbated on Tuesday when GameStop weighed in on this year’s Reddit frenzy for the first time through its official Twitter account, posting a since-deleted photo of an astronaut sitting on the moon (the moon represents the anticipated sky-rocketing value of a stock in the Reddit community) with the caption: “Been away for the past few months, what did I miss?”
The GameStop Twitter account the next day also posted another teaser, which it has since deleted, writing “moass,” a Reddit acronym for “Mother of all Short Squeezes” that appeared to inspire renewed optimism among many users.
The surge in online interest this week took attention away from “joke” cryptocurrency Dogecoin, which thanks to ample attention from Tesla billionaire Elon Musk had dominated Reddit the week prior, claiming the #1 and #2 posts with the most engagement.
CRUCIAL QUOTE
“Got tired of **everyone** saying “*This feels different”* But ya’ll … I’m telling you. **This feels f-cking different,” one user wrote in the forum on May 12. “GameStop officially stopped tip-toeing around online.”
KEY BACKGROUND
Roughly four months after Reddit investors initially hijacked the publicly traded shares of GameStop, costing the investors shorting the stock billions of dollars, the popularity of these posts reveals a persisting confidence among many that GameStop will still see the exponential increase in value they’ve predicted. The share price has fluctuated since its high of $350 in January. However, the closest it has come—in March—was still $100 less. GameStop shares saw a roughly $20 boost on Thursday and have since leveled out just below $160.
