GameStop, the world's biggest retail video game chain has had a wild and turbulent 12 months to say the least. As the video game market continues on its inevitable trek to becoming more and more of an entirely digital industry, GameStop has clearly been struggling to adjust to the changes. GameStop drama has been covered here on GBAtemp in the past, from its switch to focusing on merchandise and legacy games, to its decision to remain open following the COVID-19 pandemic, to its reversal of that decision. However, perhaps GameStop's craziest story has very little to do with the financial success of the company itself.

Prior to this month, GME (GameStop's stock ticker)'s 5 year high was approximately $33 in April of 2016. However, that figure drastically plunged down to under $4 in 2020. This month however, that figure has absolutely skyrocketed above anybody's expectations--closing out today (January 27th) at $347.23 a share. Many factors went into this large stock price; primarily a battle waging between investors of the /r/wallstreetbets subreddit and the short seller Melvin Capital. In essence, Melvin is betting that the stock price will fall below $60 by Friday, while hundreds of thousands of investors on /r/wallstreetbets have been rallying together to keep the price above $60 in hopes that it will skyrocket even further. Allegedly, "$1,000 GME by EoW is not a meme!"

Always remember to invest at your own risk, and know that nothing posted on GBAtemp or /r/wallstreetbets regarding this situation should be construed as financial advice.

Source

 

[Plasmaster09]

Your advice worth just half cent, and you are telling me how should manage my money? too bad cauz your advice is far from useful.

No, I'm telling you that you probably shouldn't be bragging about being one of the people just trying to exploit social turmoil for a quick buck.
And I assure you, my financial advice may be worthless here but my spelling and grammar advice doesn't seem to be.

 

[leon315]

No, I'm telling you that you probably shouldn't be bragging about being one of the people just trying to exploit social turmoil for a quick buck.
And I assure you, my financial advice may be worthless here but my spelling and grammar advice doesn't seem to be.

GRAMMAR NAZI SPOTTED, beside that ur words are worthless.

 

[FAST6191]

I'm still holding. Why? Because...

View attachment 244044

Not had it sold out from under you yet?

Just for the memes I'm hoping wsb lose all their $$

At this point they are on a par with #stopthesteal.

Even if I assumed #stopthesteal were complete and utter irredeemable arseholes then I am not seeing how they are on par in any real way with what Wall Street Bets are doing here.
A few financial firms failed to grasp risk (aka do their job properly) and not even in an unexpected and convoluted way* (not that it would have mattered) and are suffering because of it, whining as a result. Who cares?

*people messing with shorts having nice examples going back probably centuries but for the more known ones https://ninjatrader.com/blog/big-onion-short/

Now I am quite happy to watch everybody involved lose it all (destruction is amusing to watch) but trying to do some moral pronouncement... harder sell there.

 

[Plasmaster09]

GRAMMAR NAZI SPOTTED, beside that ur words are worthless.

your attitude, treatment of other users, overall sensibilities, grasp of the world around you, grasp of the economy, spelling and grammar are all that of a five-year-old
I might as well draw attention to ALL of them

 

[leon315]

your attitude, treatment of other users, overall sensibilities, grasp of the world around you, grasp of the economy, spelling and grammar are all that of a five-year-old
I might as well draw attention to ALL of them

Are you awared that all ur conversation which didn't provide anything useful, are OFF TOPIC? Here's my ADVICE: don't waste GBATEMP's resource for this.

And if criticizing people like me gives you a sense of accomplishment, cauz you can barely afford to buy few GME stocks, well just keep going, gentleman, meanwhile i have my focus on something more important.

 

[Plasmaster09]

Are you awared that all ur conversation which didn't provide anything useful, are OFF TOPIC? Here's my ADVICE: don't waste GBATEMP's resource for this.

And if criticizing people like me gives you a sense of accomplishment, cauz you can barely afford to buy few GME stocks, well just keep going, gentleman, meanwhile i have my focus on something more important.

reading this post gave me a stroke, a migraine and then somehow a stomachache
anyway, I'm off to attempt positive contribution instead of repeatedly belittling other users, randroid-bragging and spouting randomly generated kindergarten-level excuses for insults at whoever dares to question my judgment

 

[smf]

Even if I assumed #stopthesteal were complete and utter irredeemable arseholes then I am not seeing how they are on par in any real way with what Wall Street Bets are doing here.

I hate anything that trends on social media.

Not had it sold out from under you yet?

Its not widescale, so either they were dumb and sold it by accident or more hilariously maybe someone has hacked robinhood. That would be funny to watch.

Maybe they just lied.

 

[Julie_Pilgrim]

I hate anything that trends on social media.

That’s a pretty lame reason to hope people go bankrupt

 

[smf]

That’s a pretty lame reason to hope people go bankrupt

Well they could just stop all the shitty memes, I'd be happy with that.

But all this "too the moon" and I hope it fails for them.

The underdog is now the hedge funds.

 

[GanjiMEX]

Bascally stonks except it's a vidya bloodbath. Cool

 

[Plasmaster09]

Well they could just stop all the shitty memes, I'd be happy with that.

But all this "too the moon" and I hope it fails for them.

The underdog is now the hedge funds.

the underdog was never, is not and will never be the hedge funds
you are actively and deliberately placing yourself on the wrong side of a societal conflict, the side of pure and unrestrained avarice, because you think the other side is cringy
I'd rethink how you perceive people and movements if I were you

 

[smf]

the underdog was never, is not and will never be the hedge funds
you are actively and deliberately placing yourself on the wrong side of a societal conflict, the side of pure and unrestrained avarice, because you think the other side is cringy
I'd rethink how you perceive people and movements if I were you

It's two groups of people, one doing their job and the other rabid who are manipulating the market and people joining on "their side".

It's not a societal conflict. If it was then I don't think I'd want to be on the side with Elon Musk

 

[FAST6191]

It's two groups of people, one doing their job and the other rabid who are manipulating the market and people joining on "their side".

Is that supposed to be one of those "and the former are the people on wall street bets" type constructions?

 

[Plasmaster09]

Is that supposed to be one of those "and the former are the people on wall street bets" type constructions?

I wish. Unfortunately, he doesn't seem to grasp that the hedge funds are, in fact, the bad guys and have demonstrated their sheer corruption in front of everyone's faces ad nauseam.

 

[smf]

Is that supposed to be one of those "and the former are the people on wall street bets" type constructions?

No, the later are the people on wall street bets. It's basically a kool aid cult at this point. Hold, so I can profit from you (and don't blame me if I sell first).

 

[Plasmaster09]

No, the later are the people on wall street bets. It's basically a kool aid cult at this point. Hold, so I can profit from you (and don't blame me if I sell first).

w h a t
you have officially gone insane
like this is a new low

 

[Deleted member 397813]

That’s a pretty lame reason to hope people go bankrupt

atleast they aren't madcats

 

[smf]

I wish. Unfortunately, he doesn't seem to grasp that the hedge funds are, in fact, the bad guys and have demonstrated their sheer corruption in front of everyone's faces ad nauseam.

Step one demonize the enemy, it allows you to justify doing worse things to them.

I'm sure there are hedge funds that have done bad things, but what examples do you have with this particular one?

The fall out with them having to sell to cover their position is going to affect lots of other innocent people.

 

[Plasmaster09]

Step one demonize the enemy. I'm sure there are hedge funds that have done bad things, but what examples do you have with this particular one?

...LITERALLY THE THINGS IT IS DOING RIGHT NOW INVOLVING THIS VERY SITUATION, AS WELL AS ALL THE BULLSHIT SURROUNDING THE COMPANIES TIED TO IT ACTIVELY AND BLATANTLY MANIPULATING THE MARKET TO PREVENT REGULAR PEOPLE FROM USING THE VERY TRICKS THEY SPAM AD INFINITUM.
oh, and you've been demonizing WSB this entire time despite clearly not understanding who's done what, so...

 

[FAST6191]

No, the later are the people on wall street bets. It's basically a kool aid cult at this point. Hold, so I can profit from you (and don't blame me if I sell first).

When do the various short positions come due? I assume we would have heard if it had passed.

Having a collective hold off on selling until things really come due (and presumably prices shoot even higher as some nebulous entity fear the spanking they will get if they rock up empty handed) seems like a risky plan (herding cats, or indeed hungry cats where someone has shaken the food box in another room, and what have you) but if they can pull it off then seems like a potential for a nice bit of profit and a good bit of entertainment otherwise -- some were saying they are treating wall street like a casino, when I go to casinos I usually just assume I will lose everything (the maths of the games there all but ensures it after all) and then try to make the time there worth the cost (I find most gambling terrifically boring* so don't but that is the principle I operate under should I be compelled to be in one).


*I do remember once someone made an analogy along the lines of "we would all rather earn $200 gambling for a day than $200 working for it" and I was confused as anything as I would sooner do piecework (and nobody likes piecework) than play cards or roulette or pull a handle on machine for a day.