UPDATE GameStop's stock closes today at $347.23 per share; up from under $4 last year

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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.

:arrow: Source
 
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leon315

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Everyone Gangsta until Gamestop has a scheduled vertical drop.
:rofl2:
today 28/01/2021 Gamestop's stock has a vertical drop from 480 to 260, a huge laugh to those who bought when it were 400+ LMFAO!

I TOLD YOU! hope you won't drop from 10th floor too!
 
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idk but I wouldn't be surprised
thankfully the WSB mob has decided to respond to this in the best way possible: sending a jillion complaints of every kind in an attempt to get some form of overseeing entity on RH's ass
Yep, they canceled my orders. Tried moving to Webull, but Robinhood hemorrhaged their entire customer base all at once, so the registration and account server is getting hammered. I wouldn't put it past big money and big tech to coordinate a DDoS attack at this point either, but that's just the conspiracy theorist in me talking lol.

This is nice to see though:
Screenshot_20210128-100909(1).png


I'm sure Google will reverse all the one star reviews if they haven't already, because God forbid the unwashed masses have a voice. God forbid they have any influence over a supposedly "free" market and try to improve their situation in life during difficult times.
20210128_095209.png


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today 28/01/2021 Gamestop's stock has a vertical drop from 480 to 260, a huge laugh to those who bought when it were 400+ LMFAO!

I TOLD YOU! hope you won't drop from 10th floor too!
Market manipulation by the big brokers. They disabled buying on the stocks in question, but allowed people to sell.
 

SG854

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Unqualified (extremely) opinion, there's a lot of potential on the table here, but also a LOT of risk. If you want to get in and haven't yet, the best time is a few days ago, and the second best is any time that's not more expensive than it already is; there may be a dip on Friday but there also might not be. IMO be prepared to lose anything you put in, and be pleasantly surprised if you come out ahead, but know what your acceptable levels of risk are, what you can afford to lose (on the bottom end), and roughly where you'd want to get out on the top end.

Typical warning that this is not financial advice, I'm only slightly more intelligent an ape with a cell phone, I just like the stock, you're a fool if you think anyone here is qualified enough to know what they're doing, etc etc.
If anyone wants to get into stock it's best to diversify. Buy stock from dozens of companies. That way you don't put all your eggs in one basket. If one company doesn't do to well then its just a small blip of the other dozens you have. Not smart going all in for Space X or Amazon.

Gamestop should be one of many. But I think we are past stock purchasing point right now and people should keep an eye for dips. Because gamestop may succeed in the long term. Though it's a big may. It could fail like Blockbuster.

Thats pretty true that people shouldn't get financial advice here. But some people are scared to give any advice or suggestions at all because they don't want to give advice and they person they are giving advice to looses money. They'll feel bad for it.

But even if someone suggests to invest in stock for a certain company. Its the person buying the stock at the end. Its there money and there choice and them pulling the trigger. And their responsibility. They should know not every prediction is 100% and should not just believe people right away and should assess things themselves and not just blindly follow any advice.
 
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leon315

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I got 1K worth at 230 or so. Never invest money you can't afford to lose so we will see how this goes. I'm shooting to buying this site and all its users.
just checked it's 150 now, if things don't get worse it's still -70 for you each, now cross fingers and pray?!

Edit:_ if you got for 230 each why didn't you sell when today's peak (480$)?
 
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Plasmaster09

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We are going to the moon

We will see how it plays out.
RH seems to have already been review bombed and people are filing a class action lawsuit for their bullshit, so hopefully whatever platforms are even left will be significantly less corrupt.
 

Plasmaster09

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don't cry if GS's stock goes back to 4$ muhauahuahuahua!

EDIT: PLASMASHER is telling everyone here that if you got above 200+=you are screwed.
if that was what I think it is, an awful (and poorly spelled) attempt to put words into my mouth, you're fucking wrong
can't buy on RH? people are buying on other platforms.
basically can't buy from the US at all? ring up international buddies that are also on WSB.
these guys are really fucking persistent, and you should probably stop being so obnoxious about a situation that may not even happen.
 
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leon315

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if that was what I think it is, an awful attempt to put words into my mouth, you're fucking wrong
can't buy on RH? people are buying on other platforms.
basically can't buy from the US at all? ring up international buddies that are also on WSB.
these guys are really fucking persistent, and you should probably stop being so obnoxious about a situation that may not even happen.
it was my conversation to my friend CallmeBerto, pls stay aside, nothing matters you here.
 

Plasmaster09

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it was my conversation to my friend CallmeBerto, pls stay aside, nothing matters you here.
first off, your grammar is giving me a stroke
second off, this is a public thread
third off, unless there's another guy called "plasmasher" on this thread (yeah no), you namedropped me and acted like I said the opposite of what I've been actually saying, so I have every right to call you out on it
 

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