GameStop up nearly 50% - Cult Small Investors?

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.

 

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

 

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

 

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

 

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

 

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?

 

Step 1: Buy Stock
Step 2: Do Memes
Step 3: Profit

 

So how do you profit?

 

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

 

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

 

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!

 

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.

 

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

 

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.

 

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...

 

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