GameStop rally reignites

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Jamie McKane

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GameStop rally reignites

GameStop Corp. dipped in extended trading after rising nearly 70% on Friday, wrapping up a week of wild swings as retail investors returned to the stock after trading restrictions on the company were lifted.

The shares at the center of the retail craze that’s gripped Wall Street and drawn scrutiny from Washington, rallied after Robinhood Markets’ decision to lift some curbs that prevented investors on Thursday from buying the stocks that had been going straight up for days.

[Bloomberg]
 
The reddit holders are not the only ones who can sell to the shorts. The company can issue more shares (any amount it likes really) at these insane levels and they would be crazy not to. On the plus side, if they could continue to do that, and demand persists, the book value of the company would start to tend towards its lofty market capitalization.

What Gamestop would do with all the cash, I don't know, maybe start buying those shares back again. Or manufacturing electric cars, passenger spacecraft, but definitely not building more bricks and mortar game stores.

More than a few famous economists are turning in their graves.
 
JohnStarr said:
Could they please do the same with DOGE again...?
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Don't be silly. At least GME had some sort of cause behind it with very real jobs and livelihoods. DOGE is a nothing burger, a joke that has gone to far and quite frankly an embarrassment in the space.
 
Perhaps, going forward, in order to prevent this type of actions, stock exchanges should require an individual to pay a US$100,000 fee to open an account before they can trade. Also, pass this fee on to trading platforms. In addition, a $100 fee per trade may also not be a bad idea.

In fact, I will not be surprised if we do see the return of hefty trading fees.
 
rvZA said:
Perhaps, going forward, in order to prevent this type of actions, stock exchanges should require an individual to pay a US$100,000 fee to open an account before they can trade. Also, pass this fee on to trading platforms. In addition, a $100 fee per trade may also not be a bad idea.

In fact, I will not be surprised if we do see the return of hefty trading fees.
Click to expand...
What? You sound like a suit. How's higher trading fee's helping average Joe get into the market? Anyways this event has just accelerated the need for decentralized exchanges. That is where we are headed. Simple.
 
rvZA said:
Perhaps, going forward, in order to prevent this type of actions, stock exchanges should require an individual to pay a US$100,000 fee to open an account before they can trade. Also, pass this fee on to trading platforms. In addition, a $100 fee per trade may also not be a bad idea.

In fact, I will not be surprised if we do see the return of hefty trading fees.
Click to expand...

This would widen the spreads (again), which would just cost people money.
 
PAYBACK said:
Don't be silly. At least GME had some sort of cause behind it with very real jobs and livelihoods. DOGE is a nothing burger, a joke that has gone to far and quite frankly an embarrassment in the space.
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You didn't see the joke in my statement there...it was a tongue-in-cheek comment.
 
PAYBACK said:
What? You sound like a suit. How's higher trading fee's helping average Joe get into the market? Anyways this event has just accelerated the need for decentralized exchanges. That is where we are headed. Simple.
Click to expand...
I think you're taking what a lot of people are saying here way too seriously. It's a Sunday, chill.
 

ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

And again.
 
What happened to the original short squeeze, did the big short position end up getting squeezed?
 
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