That latter information has zero bearing on who took profits here and out of what motivation. Conspiracy is by definition unproven but you equally need to prove why there is no conspiring if you claim the opposite. There is a very good chance that multiple entities are banding together, time their trades for maximum impact. I am absolutely certain that you have no proof to the contrary. Hence both our opinions are hunches at best. Though the way those stocks trade lend imho more credibility to my claim than yours.
Why did GME drop from 344 to 198 in a few minutes today?
- Thread starter GoogTgt
- Start date
The stock is worth single digits...this is nothing but a hyped up stock. I spoke to 2 people today who are brand new to trading who said they own the stock. I told them it was a worthless stock and to take profits but what do I know. In these inflated bubblicious market even worthless companies trade like they make tens of billions in revenues a year.
If you happen to own this soon to be single digit stock, sell......Take profits and be happy you did.
If you happen to own this soon to be single digit stock, sell......Take profits and be happy you did.
I think it's the Chinese
Yep, you NAILED it. Right on brotha, right on, agree 100%! If I had some of the actual shares of this stock printed out I'd wipe my arse with them, that's how sure I am the stock will be worth basically nothing in a few weeks, months at most.
Gme wasn’t the only one that acted this way today 3/10/21 at 12:19 pm EST. Other meme stonks acted the same just like koss, amc, bbby, etc. It means only one thing. The same market participants control the price action for those stonks. I don’t know who and I don’t care. But I’m getting paid in all those stonks that I traded.
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I think the better question is when did ANYONE last buy a game at a Gamestop location lol?
Nope, I hear you on this. I understand. And i agree that the company is worth shit. However, as a trade, I am missing many bits. The whole balance sheet thing, because I never traded stocks on the level needed to know the ture valuation of a company.
I would trade a stock on it's perceived value in the future. For example, I would long LOW and HD. I know in my heart of hearts that they are going to have incredible sales of OSLG stuff this year, because of the lockdown bringing pent-up energy for everyone to get out there and beautify their gardens this year.
Like how I felt that AMZN would have their best quarter report ever on their holiday 2020 sales. Which they did, IIRC.
Gamestop is a POS. My heart tells me that there is no life left in the thing, but then I see things like cashflow and debts, and my eyes water. I do not know how that makes a balance sheet. It is not in my head. And I am too old to give a shit about those things.
Is the company going to make profit in the future? From my macro view, I do not see how. They will have to unload all that real-estate, and compete with Steam and PSX and all the other streaming services. How the hell do you turn a failing BNM into a successful stremaer, when you already have a strong competitor, and an online retailer (AMZN) who can sell your collectibles cheaper? Nobody gives a shit about the "personal" experience in a store anymore. They are too caught-up in their phones to care.