Reddit boosts GameStop stocks again

Hanno Labuschagne

Hanno Labuschagne

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Reddit boosts GameStop stocks again

GameStop Corp. erased earlier losses to rise to the highest level since Feb. 1 as a wave of Reddit users appeared to rush back into its shares.

Shares of the video-game retailer quickly accelerated starting around 2:25 p.m. in New York amid a renewed rush of Reddit posts touting the stocks.

Movie theater chain AMC Entertainment Holdings Inc. and headphone maker Koss Corp., both retail investor favorites, jumped alongside GameStop to briefly turn positive Thursday before closing lower.

[Bloomberg]
 
As long as the stocks remain in meme status and they keep being heavily shorted, this is going to keep happening. With u/DeepFuckingValue and his in-depth analysis of GME and his millions of dollars worth of stock that he keeps posting updates of, I think that's going to remain a firm favourite for a long time.

So where are the NOK and BB updates, hmm? :unsure: Just kidding, nobody really cares about those two outside of that bizarre subreddit.

With DogeCoin also exploding due to a Musk tweet, it begs further questions. What if TikTok users decide they like a stock? Or a FB group decides it wants its own stock? Or an extremely popular group of Twitter users decide to purchase a certain stock and go all public about it? Will stocks in future go up and down depending on how meme-able they are? Interesting times ahead.
 
Nereus77 said:
As long as the stocks remain in meme status and they keep being heavily shorted, this is going to keep happening. With u/DeepFuckingValue and his in-depth analysis of GME and his millions of dollars worth of stock that he keeps posting updates of, I think that's going to remain a firm favourite for a long time.

So where are the NOK and BB updates, hmm? :unsure: Just kidding, nobody really cares about those two outside of that bizarre subreddit.

It begs further questions though. What if TikTok users decide they like a stock? Or a FB group decides it wants its own stock? Will stocks in future go up and down depending on how meme-able they are? Interesting times ahead.
Click to expand...

The thing is, r/WallStreetBets are top-tier memelords but they are not actually the r*tards they portray themselves to be. 12-year olds on TikTok and boomers on FB are likely not going to be capable of anything WSB has done.

u/DeepFuckingValue has been holding GME for years and last year August he had already started doing in-depth analysis of it.

Regarding NOK and BB, you also have to remember that efforts were put in place to prevent them from taking off once the establishment realised what was going on. A lot of trading platforms blocked buying their stock early, but they couldn't stop GME as it had already reached orbit.
 
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Nereus77 said:
As long as the stocks remain in meme status and they keep being heavily shorted, this is going to keep happening. With u/DeepFuckingValue and his in-depth analysis of GME and his millions of dollars worth of stock that he keeps posting updates of, I think that's going to remain a firm favourite for a long time.

So where are the NOK and BB updates, hmm? :unsure: Just kidding, nobody really cares about those two outside of that bizarre subreddit.

With DogeCoin also exploding due to a Musk tweet, it begs further questions. What if TikTok users decide they like a stock? Or a FB group decides it wants its own stock? Or an extremely popular group of Twitter users decide to purchase a certain stock and go all public about it? Will stocks in future go up and down depending on how meme-able they are? Interesting times ahead.
Click to expand...
Well, it's possible if hedgies are shorting to 140% you can't just leave that part of the equation out.
 
I am not clued up about stocks and the associated finances involved, but how will the "investors" score? Will they not eventually lose, or a large portion of them lose, more than they put in?
 
Slootvreter said:
I am not clued up about stocks and the associated finances involved, but how will the "investors" score? Will they not eventually lose, or a large portion of them lose, more than they put in?
Click to expand...

They're not buying for investment, they're buying to **** over the big guys.

It's not about making money, it's about making wall street lose money.

#diamondhands

EDIT: oh and Hanno it's spelt stonks now.
 
ScottulusMaximus said:
They're not buying for investment, they're buying to **** over the big guys.

It's not about making money, it's about making wall street lose money.
Click to expand...
So it's ok for them to lose whatever they are putting in basically, and "investors" in quotes was thus accurate.
 
Yeah the idea is to buy it and hang on to it so that the short-sellers have to pay back immensely, thereby pretty much gouging the hedge funds which make money by killing stocks. Basically like what happened to VW in 2008.
 
The bubble continues:
www.bbc.com

Why the GameStop story is far from over

Huge swings in the share price show amateur investors are still taking on Wall Street.
www.bbc.com www.bbc.com
GameStop's shares slumped by 40% in 25 minutes on Wednesday, after a few days of frenetic growth.

Earlier that day the share price had soared to nearly $350 - 100 times more than this time last year.
Click to expand...
 
One hedge fund got the GameStop trade just about perfectly right last year — buying it under $10 and selling when the meme stock peaked.

The sell signal it used? An Elon Musk tweet.

That’s how 2021′s top-performing hedge fund, Senvest Management, was able to notch $700 million in profit from GameStop and bring its annual return to more than 85%. The trade was the firm’s single best in its 25 years in existence.

www.cnbc.com

The fund that made $700 million on GameStop knew it was time to sell after an Elon Musk tweet

A tweet from Elon Musk served as a sell signal for a top-performing hedge fund that got the GameStop trade right.
www.cnbc.com www.cnbc.com

https://twitter.com/x/status/1354174279894642703
 
BBSA said:
One hedge fund got the GameStop trade just about perfectly right last year — buying it under $10 and selling when the meme stock peaked.

The sell signal it used? An Elon Musk tweet.

That’s how 2021′s top-performing hedge fund, Senvest Management, was able to notch $700 million in profit from GameStop and bring its annual return to more than 85%. The trade was the firm’s single best in its 25 years in existence.

www.cnbc.com

The fund that made $700 million on GameStop knew it was time to sell after an Elon Musk tweet

A tweet from Elon Musk served as a sell signal for a top-performing hedge fund that got the GameStop trade right.
www.cnbc.com www.cnbc.com

https://twitter.com/x/status/1354174279894642703
Click to expand...
Powerful meme strategy.
 
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