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

To the moon

 

...well, that was a pleasant surprise. If only I had invested when it was that low...

 

So, sure is coincidental that Reggie gets appointed to GameStop's Board of Directors last March and now this happens. He might be an evil genius!

 

Yep, essential business. Lol
Wonder if they have any old NES games to sell now. Oh, wait.

 

we going to the moon, no paper hands, only diamond hands, alll hail DFV

 

lmao... one of those 1-in-a-lifetime shots. could have seen your money go to 0 in an instant, but instead this happens.

 

Gosh dang. I don't play stocks but even if I did, I would have never invested in gamestop

 

Ehem.

https://wolfstreet.com/2021/01/25/a...s-collapse-54-in-hours-the-zoo-has-gone-nuts/

Manipulation, manipulation, manipulation.

 

Yeah but it's still a garbage store

 

This is purely stock manipulation and nothing else.

 

Call it George if you want but is still manipulation:

https://wolfstreet.com/2021/01/25/a...s-collapse-54-in-hours-the-zoo-has-gone-nuts/

[When shares surge despite plunging revenues and a doomed brick-and-mortar business model, the stock becomes an all too obvious fodder for short sellers, including Andrew Left of short-selling firm Citron Research. GameStop has become one of the most shorted stocks out there. To close out their positions, short sellers have to buy those shares.

And then folks on the social media, particularly on Reddit, started encouraging each other to buy the shares, drive up the share price, and generate a short squeeze that would send the shares skyrocketing while panicked short sellers would have to chase those shares higher to buy them back in order to cover their positions.

And this is what happened beautifully, amplified by hedge funds trading with this crowd. It’s not the first time this happened. Tesla shares, for example, have gone through this for years. But there is at least a fantastical story for Tesla: it’s not a niche automaker with a global market share of 0.7% but some kind of information company or whatever run by a CEO who walks on water. GameStop has no story other than being a brick-and-mortar retailer caught up in the brick-and-mortar meltdown that has been going on for years.

What is hilarious about this show is how these smallish traders that were ganging together on Reddit have succeeded in doing the same thing that a few big short-sellers have done successfully for years in the opposite direction.

Short sellers, after they take their short position in a target company, come out with devastating reports – some true, some not – about that company and announce their short position. The financial media then multiplies this gleefully across the globe, and the selling of the shares sets in, by other short sellers that want to tag along and by longs dumping their holdings. And shares plunge.

Some of those cases have been called “short and distort,” sometimes laced with dubious allegations of “fraud” that then never materialized.

In other cases, short sellers turned out to be the only sheriff on Wall Street, exposing the shenanigans that should have been exposed years earlier by our cutesy watchpuppies.

The Reddit traders have now proven that both short and long traders have access to the same tools and power to manipulate share prices, and that they can make tons of money if they got in and out at the right time, or lose tons of money if they didn’t.]

 

You have amazing luck

 

@Chary rolling in the dough now.

 

Wonder if they have Battletoads in stock now.