GME pre market price is ridiculous

That price is a little too suspicious to be real.

2 minutes ago, Alpinemaps said:

That price is a little too suspicious to be real.

It peaked at $468.49 yesterday before the sudden drop

LOL.  The insanity continues

Its going to end in the mid 100's today.  

2 minutes ago, Miami Bomb Squad said:

Its going to end in the mid 100's today.  

that's what I said yesterday!

looks like trading halted.

It peaked at $468.49 yesterday before the sudden drop

Yeah, but $420.69 specifically? Where’s your toke smiley? Lol

As an option trader...
 

My wife asked me why I didn’t get in on this. After reading your post....that’s why.

I am totally dumb on this topic. I’ll just sit by and watch. I don’t have money to burn on this.

I think I’m some on some topics, but this one I claim no smarts at all.

Quote

RH is allowing anyone with ZERO shares of GME to buy up to 5. Anyone with currently less than 5 shares can buy more up to a total portfolio of 5 shares. Anyone with more than 5 shares can not purchase shares.

This is important because these **** clowns know that those of us carrying greater numbers of stock likely have the capacity to buy greater numbers of GME shares and reduce liquidity.

They are simultaneously:

1. manipulating the system

2. taking advantage of people with less funds

3. preventing a greater number of shares from being purchased

They did this so they could have a talking point in the media and during their congressional investigations and say “We reopened stock purchase of GME” and nobody will dig deeper.

 

1 hour ago, Alpinemaps said:

Yeah, but $420.69 specifically? Where’s your toke smiley? Lol

F it. I am now part of the insanity

I'm in for some Doge coin. Just to join in the fun.

4 minutes ago, Darth_Raichu said:

F it. I am now part of the insanity

Welcome to the club

My luck though I'd end up like James Howells.

6 minutes ago, Darth_Raichu said:

F it. I am now part of the insanity

💎💎✋💎💎✋💎💎✋

LOL you have to throw in the emojis.

It is crazy!

Just now, cardkid said:

💎💎✋💎💎✋💎💎✋

LOL you have to throw in the emojis.

It is crazy!

Newbie question, can I use this as emoji instead ???

3 minutes ago, MarleyMoose said:

My luck though I'd end up like James Howells.

Knowing how life has gone the past 12 months, I’d end up rich but quarantined like Thurston Howell III. 
 

9 minutes ago, cardkid said:

💎💎✋💎💎✋💎💎✋

LOL you have to throw in the emojis.

It is crazy!

Could you imagine being on the other side of this and being pinched.  Yikes.  I believe it calculates out to being around 98 million shares are shorted, of 70 million available.  So to attempt the math, would it be borrowed shares of 98,000,000 * $20 and will be paying on them with average of $350 so..... $1,960,000,000 borrowed and $34,300,000,000 paid... for a grand total of a $32,340,000,000 loss.    

Nice job Hedge fund idiots.  Negative $32 BILLION on that "winner"

Edited January 29, 20214 yr by LegoMan1212

2 minutes ago, TheBrickClique said:

Knowing how life has gone the past 12 months, I’d end up rich but quarantined like Thurston Howell III. 
 

 

I just imagine so many starting to think this eventually

2 hours ago, Alpinemaps said:

Yeah, but $420.69 specifically? Where’s your toke smiley? Lol

https://www.reddit.com/r/wallstreetbets/comments/l7v39c/please_remove_your_42069_limit_sells_i_know_its/

 

Edited January 29, 20214 yr by CosmicSpeed

Kicking myself for not buying AMC yesterday

24 minutes ago, Darth_Raichu said:

Kicking myself for not buying AMC yesterday

I was going to if Etrade wouldn't take a full week for funds to be available.  Oh well, the Lego business is doing just fine too and ROR is comparable in some aspects.

So, all the talk of "HOLD!" on WallstreetBets... it is an interesting prisoner dilemma situation...

 

If everyone holds, infinity is the top... but it will be harder and harder to tell the new paper millionaires not to convert to cash...

Holy crap the last hour-ish was a bloodbath with a lot of stocks taking a huge dump. 

Can someone who knows more than me (basically anyone in this thread) explain a couple of things?

1) I know that most of the retail investors don't have an actual plan beyond buying and holding so they can make money/stick it to the man/be part of a community, but what actually is the end game here with the money? Obviously, the stock will go down as people take their payouts or lose interest, but is there a time when the stock should shoot up due to the hedge funds and others shorting having to buy in at these ridiculous prices? I know shorts have expiration dates (right?), so is there a time associated with that when things automatically happen?

2) People are putting millions of dollars into AMC yet the stock price is barely moving. How does this work? Is it due to the opening of further shares? Something that the shorts are doing to manipulate the price down? 

7 minutes ago, BillyBricks said:

Holy crap the last hour-ish was a bloodbath with a lot of stocks taking a huge dump. 

Can someone who knows more than me (basically anyone in this thread) explain a couple of things?

1) I know that most of the retail investors don't have an actual plan beyond buying and holding so they can make money/stick it to the man/be part of a community, but what actually is the end game here with the money? Obviously, the stock will go down as people take their payouts or lose interest, but is there a time when the stock should shoot up due to the hedge funds and others shorting having to buy in at these ridiculous prices? I know shorts have expiration dates (right?), so is there a time associated with that when things automatically happen?

2) People are putting millions of dollars into AMC yet the stock price is barely moving. How does this work? Is it due to the opening of further shares? Something that the shorts are doing to manipulate the price down? 

Pricing comes down to supply and demand

If the last trading price is $x, if there is now demand at >$x and there is now supply at >$x, then a trade takes place at a price >$x.

If a hedge fund or any other investor wants to cover a naked short position by buying the underlying stock, then such investor could put in a bid of $y.  If all asking prices are >$y, then the bid is not executed.  If there is a asking price <= $y, then the bid is executed.  

Traders could see these bids, asks, and completed transactions.  Based on this data, traders could adjust their bid and ask prices, thus impacting supply and demand.

 

 

 

 

1 hour ago, House Schubert said:

So, all the talk of "HOLD!" on WallstreetBets... it is an interesting prisoner dilemma situation...

 

If everyone holds, infinity is the top... but it will be harder and harder to tell the new paper millionaires not to convert to cash...

A lot of them seem to have no interest in selling. If you give them a choice between pocketing $20k and losing everything but, taking a hedge fund down they'll pick the latter. Whether or not there are enough people in this camp to affect the market is another matter.

I have my doubts over how big an impact WSB is having. Vanguard and Blackrock have many more shares than WSB do. That said, the drop in share price yesterday coincides with Robin Hood suspending purchases.

Edited January 29, 20214 yr by CsabaLazlo