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Buying Gamestop shares

pozz

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I Bought at $300

Anyone else buying and holding GameStop shares?
Two weeks ago the price was under $20.

It's not a company that I would expect to keep the share price up for a while. If you bought for a quick turnaround, consider that capital gains tax would eat a lot of the return.

I could of course be wrong.
 
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celroid

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The fundamentals are definitely not there, but that's not the point with this stock. The point is to cause a short squeeze for the hedge funds that shorted the stock. It's a historical thing. I hope these billionaire hedge funds lose a lot of money out of this.
 

muad

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The fundamentals are definitely not there, but that's not the point with this stock. The point is to cause a short squeeze for the hedge funds that shorted the stock. It's a historical thing. I hope these billionaire hedge funds lose a lot of money out of this.

I'm in. I don't care if I lose my money.
 

Tks

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Hedge funds getting meme'd on in the billions. Shorting clowns get bailed out by another firm, and then go in to short more, now the slaughter is secured.

This is hilarious.

And so is this.


This is probably one of the greatest middle fingers the lower classes of people have presented to the upper in recent memory. Made more funny by the fact some billionaires are openly fueling the troll event.

Corona sure got people bored out their minds.
 

Ron Texas

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It's safer to play blackjack in Vegas.
 

pozz

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I'd just like to give some perspective.

In terms of who loses money: clearly the losses won't be evenly distributed. At least one fund management company profited immensely. The affected funds have already begun work hedging those positions, if possible. It has forced some of their principles to move their personal capital back in to keep them afloat. The investors of those funds will either eat the loss and stay, maybe ending the year with a positive return, or withdraw and resubscribe elsewhere. The results for non-fund "retail investors", as they're called, will depend on where they were in the informational minefield. I personally had no idea what was going on. I wasn't invested in GME. I could see some having profited substantially.

These funds have a lot of pensions plans as investors. This kind of money is called "sticky capital" in the business. It's a big deal if institutional investors subscribe, because every investment decision is large (in the millions) and expensive (a lot of time and work is done before the documents are signed). Once in, they tend not to leave unless the fund managers are deemed incompotent or not promising because of the work it takes to reallocate. There are other minutia here I won't go into.

I am, as is everyone in Canada, invested by law into the CPP. You can bet that this plan has exposure to some of the affected funds and other short sellers. Same goes for any large pool of capital immediately supported by workers aiming for long-term gains, usually retirement. They have such large portfolios to manage that they cannot invest through usual means. Funds are one of the primary ways for large investments to be made with relative safety.

There is a general drift these days, especially at these plans, to move away from reprehensible investing. Not that they and other large investors don't already participate directly, as when investing in real estate, infrastructure or debt in developing countries after the prices have been driven down by crises. In some sense, this event is part of that drift. But it leaves me feeling somewhat detached.
 

digitalfrost

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Anyone else buying and holding GameStop shares?
It's certainly fun for entertainment purposes. I tought about buying at 80€ on monday and decided against it. Question is where the short squeeze could end up. I have seen numbers quoted up to 34k.

Fact is. What is happening here is musical chairs/trip to jerusalem and the question is where you'll be when the music stops.

I appreciate it for the memes, but fact is, with the current price of GME, shorting it is well justified. People won't hold the stock forever, and when that happens you better have a good stop loss. Ofc during the short squeeze they have to buy the stock no matter the price, but wait too long and who's gonna pay 300$ for GME?

This is a 22$ stock at best.
 

muslhead

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The fundamentals are definitely not there, but that's not the point with this stock. The point is to cause a short squeeze for the hedge funds that shorted the stock. It's a historical thing. I hope these billionaire hedge funds lose a lot of money out of this.

Jealous of their wealth or rather getting their just dessert?
 

muslhead

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It's certainly fun for entertainment purposes. I tought about buying at 80€ on monday and decided against it. Question is where the short squeeze could end up. I have seen numbers quoted up to 34k.

Fact is. What is happening here is musical chairs/trip to jerusalem and the question is where you'll be when the music stops.

I appreciate it for the memes, but fact is, with the current price of GME, shorting it is well justified. People won't hold the stock forever, and when that happens you better have a good stop loss. Ofc during the short squeeze they have to buy the stock no matter the price, but wait too long and who's gonna pay 300$ for GME?

This is a 22$ stock at best.
Good job of not stating a time frame because you will likely be right. This company, is a penny stock over the long run unless they change their business model
 

muslhead

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More fool you, I fear.
Hopefully he is not serious or if he is its only for a few shares.
Parabolic rises end in bloodshed for the majority
Happened millions of time in the past and will continue to happen as long as FOMO (fear of missing out) or speculation drives the market rather than rational, logical analysis
 

buz

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The fundamentals are definitely not there, but that's not the point with this stock. The point is to cause a short squeeze for the hedge funds that shorted the stock. It's a historical thing. I hope these billionaire hedge funds lose a lot of money out of this.
Others will make even more money when it deflates again.

For a variety of reasons, it is tricky for me to short stock but boy, this will make a bunch of hedge funds A LOT of money.
 
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celroid

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Hopefully he is not serious or if he is its only for a few shares.
Parabolic rises end in bloodshed for the majority
Happened millions of time in the past and will continue to happen as long as FOMO (fear of missing out) or speculation drives the market rather than rational, logical analysis
Nothing I cannot afford to lose, just a small percentage of my 2020 gains.
Jealous of their wealth or rather getting their just dessert?
For blocking people from buying on multiple platforms, they are corrupt people. For example Steven Cohen founder of Point72 Asset Management took a $1.8 billion fine for insider trading. Point72 along with Citadel gave $2.75 billion to Melvin who after being short squeezed needed saving.
 

muslhead

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Nothing I cannot afford to lose, just a small percentage of my 2020 gains.

For blocking people from buying on multiple platforms, they are corrupt people. For example Steven Cohen founder of Point72 Asset Management took a $1.8 billion fine for insider trading. Point72 along with Citadel gave $2.75 billion to Melvin who after being short squeezed needed saving.
Couldn't agree more. What i dont like is the stick it to the rich attitude from those who are jealous. Some actually worked very hard and applied themselves to become wealthy but they are the targets of those that are not. But the game is rigged for those that have so them getting their just desserts is only fair and actually quite amusing. The problem is (maybe you are in the business or not - I am) most retail investors are nothing more than fresh meat for those on the inside and 99% of them get fleeced. and why gambling is fun but most of the time most people dont take the approach of using a small amount. They go all in. They lose it all and their lives are forever more changed. Sad but emotions are the downfall of all humans and money (Greed/fear emotions) is emotional
 

monkeyboy

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I love this Gamestop play...the invisible hand of the market getting shoved up their a$$...the problem isn't the retail purchasers, it's the hedge funds taking huge short positions....the financialization of the economy is a bad thing, these people produce nothing of value....
 
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