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GameStop up nearly 50% - Cult Small Investors?

Discussion in 'Too Hot for Swamp Gas' started by citygator, Jun 7, 2024.

  1. citygator

    citygator VIP Member

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    I actually enjoyed the movie Dumb Money but thought Blackberry was a much better film that year. Regardless the GameStock stock is up 50% and is doing crazy things for reasons having nothing to do with business. What a cult - although they did expose the market manipulation big investors do all the time. I am thinking of starting my own cult - stay tuned!

    GameStop shares jump more than 40% as ‘Roaring Kitty’ schedules YouTube livestream for Friday

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    Shares of GameStop shot to session highs Thursday after meme stock leader “Roaring Kitty” scheduled a livestream on YouTube, which would be his first one in almost four years.

    Roaring Kitty, whose real name is Keith Gill, set the time for his live chat at noon Friday, which traders speculated would be a bullish discussion about his massive GameStop stake. The investor hosted three-hour livestreams in August 2020 explaining his investing thesis behind his favorite brick-and-mortar video game retailer.


    GameStop popped more than 47% higher to close at $46.55 per share. The stock hit a high of $47.50 during the session, in which trading was briefly halted for volatility. The stock has more than doubled so far this week.
     
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  2. enviroGator

    enviroGator GC Hall of Fame

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    Not a lot new about this pump and dump game, just now people are doing it out in the open and have enough followers (er ... suckers) to really drive up heavily shorted stocks.

    Last time when this was going hard, I would read from some of the "followers" that they were holding for ever! In like a tick! They were either lying (if they were smart) or ended up holding the bag when the pump was over.
     
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  3. channingcrowderhungry

    channingcrowderhungry Premium Member

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    Really no different than what large institutional investors can do. Good for them if they can beat the man. I think I still own like 5 shares in case of goes to infinity
     
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  4. magnetofsnatch

    magnetofsnatch Rudy Ray Moore’s Idol Premium Member

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    Reversed bigtime in the pre market this morning after they announced an 85MM stock raise.
     
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  5. citygator

    citygator VIP Member

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    Remember us little people when you become the first Infinitiaire.
     
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  6. wgbgator

    wgbgator Premium Member

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    When you learn that there is gambling going on in the establishment

    [​IMG]
     
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  7. channingcrowderhungry

    channingcrowderhungry Premium Member

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    Only the posters here I like will receive infinity dollars from me. Everyone kiss my ass going forward
     
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  8. Emmitto

    Emmitto VIP Member

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    I don't actively participate in the market (I have the standard funds stuff like 401, 403, 457) but I don't understand the end game here. Perhaps someone can enlighten me.

    So what is the end game, for the actual memers? I realize they are trying to harm the usual manipulators. And I understand that by overbuying and holding that advances that idea. But it also seems that the usual suspects have outs and in the end won't suffer any sort of mortal blow, more like a momentary nuisance. But the memers seem to be in an essentially winless scenario. I read that a few have cashed out and made some modest money. But it only works if by and large everyone holds, and in fact just keeps pumping money in. But you can never get out, or at least only a select few would (positively) if the avalanche starts.

    If I put my life savings into this, and for the whole WWG1WGA of it, I hold on like Hiroo Anoda, what will be my end result?
     
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  9. wgbgator

    wgbgator Premium Member

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    Step 1: Buy Stock
    Step 2: Do Memes
    Step 3: Profit
     
  10. Emmitto

    Emmitto VIP Member

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    So how do you profit?
     
  11. wgbgator

    wgbgator Premium Member

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    I think my 3 step plan was pretty clear, and if it isn't, well that's why you aren't a big time investor :)
     
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  12. G8tas

    G8tas GC Hall of Fame

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    I've been using this to make money on AMC options. Thanks Diamond Joe!
     
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  13. Emmitto

    Emmitto VIP Member

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    Well I guess the joke is on you. I am now the sole owner of all Circuit City stock, perhaps you've heard of it? I'll send you a postcard from Rich People Place when that bad boy bounces back, SOON!
     
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  14. tilly

    tilly Superhero Mod. Fast witted. Bulletproof posts. Moderator VIP Member

    [​IMG]
     
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  15. tilly

    tilly Superhero Mod. Fast witted. Bulletproof posts. Moderator VIP Member

    Certainly a great choice. But...Not diverse enough to really make money man.

    You need multiple avenues.

    Kmart, Blockbuster, and a diverse group of VHS manufacturers are gonna make retirement a breeze for me.
     
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  16. citygator

    citygator VIP Member

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    Look. Just watch the movie. It clears nothing up on how it makes any sense and it is entertaining. Hope that helps.
     
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  17. WarDamnGator

    WarDamnGator GC Hall of Fame

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    By secretly selling your stash while yelling “buy! Buy! Buy! Hold the line!” on the internet….
     
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  18. Emmitto

    Emmitto VIP Member

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    I mean, I did watch the movie, and this was really the plot. Explaining the hold idea took about three minutes of screen time. Everyone in perpetual fear of the dam breaking and 99% of them suffering catastrophic losses was the actual tension. And if I recall, that was how it ended, including some examples of a handful cashing out early to mostly modest gains.

    Really just waiting to see when Gill is going to end the LARP and catastrophically ruin all these people putting their leftover pennies into one guy's vanity project.
     
  19. WarDamnGator

    WarDamnGator GC Hall of Fame

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    Didn't see the movie, but I saw the lead guy who went by "roaring kitty" went from $50,000 to $300 million, so I'd classify this as a pump and dump unless there is something I'm missing. The Stock Market is a zero sum game, so that $300 million came from other people...
     
  20. philnotfil

    philnotfil GC Hall of Fame

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    It came from the people shorting Gamestop for more shares than existed. Play silly games, win silly prizes.
     
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