Gamestop (GME) - Cant stop, Won't stop, Gamestop

Wallstreetbets is full of memes related to this. Here are some gems:

https://www.reddit.com/r/wallstreetbets/comments/kx7aks/gme_king_autist_demands_his_tendies/

https://www.reddit.com/r/wallstreetbets/comments/kx9ul1/gme_rebound_in_a_nutshell/

I definitely wouldn’t want to short against that wallstreetbets crowd in a company like this, whose market cap is relatively small by US standards. That crowd can significantly move the stock’s value.

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And that’s not all, WSB also sent BlackBerry soaring +25%. Next on the list is Palantir at the turn of the month.

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It’s starting to be an epic battle between Citron/Left+other short sellers and WSB - Left has already made two online videos, of which the first one yesterday didn’t work on Twitter when the bulls blocked their channel :face_with_hand_over_mouth:

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Hey, that insane rally can’t go on forever. When profit-taking starts at some point, we’re really going to crash hard. Basically, GME is a firm ripe for bankruptcy with no future. Of course, if they were smart, they’d quickly launch a new offering at these levels. Whether there’s real interest in the shares then is another matter.

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But what if a margin call comes in—the Left doesn’t have endless money, nor likely endless borrowed shares. Then strange things happen.

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Is the “squeeze” finally happening? The movement is so violent.

https://twitter.com/Fiilismies08/status/1352605273022672898

Edit: Maybe more coffee room stuff, but it’s already done.

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My purely gut feeling is that GME will start dropping if/when Michael “Big Short” Burry starts selling his stakes. It would be crazy if he didn’t sell at these levels. It’s already gone above $70.

Interesting price movement to follow :sweat_smile:
https://twitter.com/Fxhedgers/status/1352672925208350722?s=19
a bit off-topic. Feel free to flag :see_no_evil_monkey:

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{“content”:“Wasn’t this whole thread created for this purpose, so I guess there’s no flagging here? An event like this has never been seen before. I’d be surprised if Andrew Left wasn’t wiped out.”,“target_locale”:“en”}

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You can’t really do group trading, so I don’t know how they protect their identities on Reddit, Twitter, etc. This is certainly something that the SEC and similar bodies will investigate.

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It’s coming down fast now and profits are being realized. Coincidence or not, but other WSB favorites like PLTR, BB, and AMC are seeing strong gains.

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GME still +38% today, no significant volume moved to the others I was following. This rally might have been enough before the weekend. Interesting to see if the Left comments on this.

  • PLTR has been rising steadily all day, clearly bot work
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It went on an even more incredible climb. +53 now. My own puts burned to the ground.

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Hopefully not all of /r/wallstreetbets gets screwed when the SEC wakes up to what the hell is happening here :smiley:

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Legendary DeepFuckinValue’s daily balance

Looks like someone hit the jackpot at the casino too

This is completely absurd.

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But this GameStop thing is a combination of a couple of things:

  • WSB’s revenge against Andrew Left/Citron
  • Small-scale DD (due diligence) on its real turnaround under new management

So it’s not a completely baseless pump & dump like usual :slight_smile:

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If GameStop were +5-10% from its lows because it maybe won’t go bankrupt and might turn around, I’d say that sounds optimistic but justifiable - a turnaround company’s chances are > 0%.

But… well, this is what happened today. Hopefully the WSB folks know how to jump off the train in time. And certainly some who joined the party late will also take a hit.

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Still a lot of faith that the rise will continue… No longer buying at our own risk, but selling

Phase 1. Pump

https://www.reddit.com/r/wallstreetbets/comments/l31zkn/gme_is_going_into_triple_digits_next_week_sell_at/

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