Apocalypse Investment thread.
- Thread starter Rent Free
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To add to this, it ran up again yesterday because people are banking on the future outlook of Gamestop with the 3 new board members and made a short squeeze.
A general idea of what a short squeeze is, people borrow shares at a price and sell it in the market. Major selling creates a drop in price. When the price goes lower, those people who borrowed now has to buy those shares back and cover their position (return the borrowed shares). They keep the price difference from when they sold high and bought the shares back low (minus fees).
You know what happens if people don't panic sell, and buying pressure outweighs the selling pressure when a bunch of people try shorting a stock.... Price flies high because those people who borrowed are losing quick and they need to cover which in turn is creating more buying pressure. So the price "squeezes" up tremendously.
That is what appeared to happen yesterday.
Speaking about that short squeeze I was talking about with Gamestop.... This is primarily the reason why it's running hard. GameStop hit as high as $160 during intraday trading yesterday. Around when the SPY dropped, Gamestop's price dropped down to around $70ish and started making its way back up again.
"Why Has GameStop's Stock Gone Up So High Recently? | Time" https://time.com/5933242/gamestop-stock-gme/?amp=true
"Why Has GameStop's Stock Gone Up So High Recently? | Time" https://time.com/5933242/gamestop-stock-gme/?amp=true
Mainly because I’m never paying close enough attention to see when something is on an upward trajectory before I feel like I’m in the FOMO stage, nor am I paying close enough attention to the prices to see when it’s time to get out.
If you can't get in and out quickly, I wouldn't suggest getting into GME. That's basically playing with fire. People will get burned if they're not careful.
I don't think it's Melvin per se. They're just tired of all the short play manipulations. I got hit hard from Sabby on a play. I'd love to see them get hit with a huge loss. Lol.
AMC also just got a 917million capital boost. I might get some after open if it drops back to 5-10$ range
Schwab is now crashing LOL....can't trade anything. Big institution trying to keep real investors out so the big funds can control the prices??
Now the whole trading section of the site is down.....
I just sold out of that position. I wish I would have had my 500 shares of AMC at $2.90. Sold it yesterday. Lol.
I love that its average investors pumping and dumping stocks, and its bankers getting fucked. Its been the other way around forever....
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