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Gamestop shares are going crazy again, this time might be the real deal
- Thread starter alphachino
- Start date
GHG
Gold Member
Yes, and those future expectations were inflated and distorted thanks to the likes of Cathy Wood.
Is this a serious question? Why don't you ask yourself the same thing when it comes to everything that happened regarding gamestop. Hint: if you think that it was just retail investors who were responsible for the movement of that stock then you are mistaken. It was a textbook gamma squeeze and these things can only happen if players with huge amounts of money get involved.
See above.
There are no rules as to what retail traders can and can't do, that's the beauty of the markets. As long as people understand and acknowledge their money is at risk then who are you to say what people should and shouldn't be doing?
And by the way, Ark run exactly the types of funds you describe. Like I said, you are not supposed to invest in momentum, you trade it. Holding momentum stocks for long periods of time guarantees negative returns.
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James Sawyer Ford
Gold Member
Cathie Wood is just a fund manager and pundit, they all promote themselves.
None of them have millions of apes following their every decision and concentrating all activity on a small cap stock in order to materially move the market.
I never claimed it was ONLY retail getting in on the GME trade, but they absolutely were the catalyst.
Retail investors can do whatever they want; I was simply arguing that following DFV’s YouTube videos and trying to emulate his strategy is not actual good investment advice.
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Buggy Loop
Member
They went from -331.1M in 2022 to +6.3M in 2023, with last quarter being 63.1M in. You find many companies that turn things around like that?
Gamestop is changing internally
No, It won't remain the gamestop you knew when you were a kid.
GHG
Gold Member
None of these guys were in the press as much as she was (and still is). Her marketing and PR team are far better than her products. She literally promotes her funds in a cult like fashion, hence she (and by extension Ark invest) has a cult following.
Please read:
The Rise and Fall of Wall Street’s Most Controversial Investor
Cathie Wood built a thriving brand out of price-prediction porn — then the tech bubble popped.
nymag.com
To use a gaming analogy, there are many parallels to Xbox here, even down to how the products (or returns in this case) have ultimately ended up disappointing. In the age of social media, if you use enough hot air to distort reality then you can still make a good amount of money for a period of time, regardless of your product.
No, instead they have billions of people watching and hanging off their every word because they insert themselves on mainstream media as trusted advisors.
That's because it's not investment advice.
Meanwhile, ironically, the likes of Cathie Wood are asking people to invest in their funds.
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Just because a company lost money 1 year and the next year were able to cut costs and show a profit doesn't mean it has turned around.
YOu have to look a little deeper than that.
The used game business is only going to continue to decline. Digital sales are only going to increase. That's bad news for Gamestop. That's the bread&butter of their business. This is not new. Nothing on that front has improved from where I sit.
Also realize they had $1bn in cash in the bank and as of a few weeks ago have $2bn. And that interest rates are ~5%. 5% of $1bn is $50mn.
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James Sawyer Ford
Gold Member
None of these guys were in the press as much as she was (and still is). Her marketing and PR team are far better than her products. She literally promotes her funds in a cult like fashion, hence she (and by extension Ark invest) has a cult following.
Please read:
The Rise and Fall of Wall Street’s Most Controversial Investor
Cathie Wood built a thriving brand out of price-prediction porn — then the tech bubble popped.
To use a gaming analogy, there are many parallels to Xbox here, even down to how the products (or returns in this case) have ultimately ended up disappointing. In the age of social media, if you use enough hot air to distort reality then you can still make a good amount of money for a period of time, regardless of your product.
No, instead they have billions of people watching and hanging off their every word because they insert themselves on mainstream media as trusted advisors.
That's because it's not investment advice.
Meanwhile, ironically, the likes of Cathie Wood are asking people to invest in their funds.
Again you’ll get no disagreements from me that Cathie Wood is a charlatan who sells snake oil
The disagreement is simply whether she is colluding and has the ability to majorly swing market prices of single stocks. I’ve seen no evidence of that.
GHG
Gold Member
What do you think has more of an impact on the markets?:
A) Cathie Wood talking about how Tesla is poised to become the biggest company in the world on CNBC, Bloomberg, national TV channels, etc to an audience of billions
Or
B) roaring kitty posting stuff on a subreddit which at the time of the first gamestop run had ~2 million followers, along with YouTube/Twitter with around 100k followers in 2021.
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James Sawyer Ford
Gold Member
What do you think has more of an impact on the markets?:
A) Cathie Wood talking about how Tesla is poised to become the biggest company in the world on CNBC, Bloomberg, national TV channels, etc to an audience of billions
Or
B) roaring kitty posting stuff on a subreddit which at the time of the first gamestop run had ~2 million followers, along with YouTube/Twitter with around 100k followers in 2021.
A) doesn’t seem to be doing anything as TSLAs price keeps going lower
B) everytime roaring kitty appears, GME stock moves 50-100%+
FalconPunch
Member
I made 18K in premarket this morning. Sold and bought a small amount again at $30.
GHG
Gold Member
Not anymore. She's been exposed as a fraud. Just like how when Phil Spencer now speaks nobody takes him seriously anymore and it has zero positive impact for Xbox.
This wasn't always the case though and any inflows she had had a marked impact on the stocks she was purchasing for her funds.
Look at the timings of his tweets vs the movement of the stock price. FYI there is now overnight trading available on most stocks in the US market, including gamestop. He's been tweeting after the breakout movements have occurred.
So if he's not responsible for the initial moves of the stock which spark momentum, who is?
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Trilobit
Member
Last time I bought those shares they blocked the ability to buy them the day afterward. Completely illegal, but it stopped them from rising in value and no one got charged with crimes. It's a game for the rich and powerful, I'm just a little fish swimming upstream in their river.
diffusionx
Gold Member
The original reason for the GME stock price rocket was that this guy put out his research saying taht the stock was mispriced and the company had more fundamental value and growth potential than what the market thought. I don't think he was lying or conning people, I think it was his belief, it become a meme, but this is what analysts and investors do.
But, years later, GME really hasn't shown any of that and is still really struggling. This smells fishy.
But, years later, GME really hasn't shown any of that and is still really struggling. This smells fishy.
James Sawyer Ford
Gold Member
Buggy Loop
Member
At after market times and with most of the volume outside of investor institution
Smells like small investors!
/s
GHG
Gold Member
This is factually not true. You can look at his tweets vs the movements in the stock price and cross reference them.
For whether reason here you're allowing your perception to over-rule the facts. If you like I can chart them later for you?
That's the thing though, she wasn't just promoting her funds, she was predominantly promoting the top holdings in her funds.
Doing both is a win-win from her perspective and at the end of the day the game is the game, it's up to people on an individual basis to try and see things for what they are. If someone is trusting an individual just because they happen to constantly be in the media then that's their own fault.
James Sawyer Ford
Gold Member
Please explain. He posted his holdings over the weekend, and the stock immediately went up after that was known to a far greater degree than what it was doing prior from what I can tell. It wasn’t a tweet either.
Sure, so anything goes and we should allow pump and dump schemes to manifest? Regulators should turn a blind eye and just let the ignorant apes get slaughtered?
I’m not arguing they necessarily should, I am just stating my opinion that I’m not for what DFV is doing and I hope his gambling gets the better of him to teach a valuable lesson
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Ass of Can Whooping
Gold Member
dumped 10k on AMC and GME
These meme stocks are retarded and i'm here for it
These meme stocks are retarded and i'm here for it
StreetsofBeige
Gold Member
I chickened out and didnt buy GME. It opened at around $40 and I balked.
Shake Your Rump
Member
The entire increase in share price over the past few weeks was solely due to him simply posting a drawing of a guy sitting up straight in a chair. Nothing else. No news. No reports. Just a drawing.
He has a cult following and both sides, the cult members and the short sellers will react to anything this dude posts online.
FalconPunch
Member
Well if it follows the pattern of the last run up, tomorrow it should open at $80. Don't think Citadel Securities will allow that to happen though lol. The shorting is ridiculous.
StreetsofBeige
Gold Member
When that guy posts his position, is it a real snapshot of his account? Or just him posting random shit? I can make my Yahoo Finance portfolio say it has a billion worth of stocks.
FalconPunch
Member
It's real dude. DFV is no joke when it comes to investing lol. If he moves, I move lol. Dude has enough capital to gamma ramp himself lol.
Alex Anderson
Member
And here I was hoping the company will still accept my $400 in gift cards and credit by the time switch 2 releases.
The gcs were like 20% off so i loaded up the max. It was on Costco or some other club store site.
The gcs were like 20% off so i loaded up the max. It was on Costco or some other club store site.
Astray
Member
Came here to say this.
His original thesis was that we were on the cusp of a new console gen, and typically Gamestop benefits via console, accessory and game sales. That thesis was dubious for multiple reasons, but he still lucked out.
Is his thesis now that it's repeating with Switch 2/PS5 Pro? Because the latter is not even remotely comparable.
Buggy Loop
Member
DFV could have pulled out at $400M somewhere in the morning
Pump and dump right? Who doesn't see $400M and walk away
DFV isn't like me or you
Didn't budge
Pump and dump right? Who doesn't see $400M and walk away
DFV isn't like me or you
Didn't budge
Reallink
Member
Not hard when you already have $30 million cash just in what's shown, and almost definitely several 10's of millions more shielded elsewhere (e.g. relatives and trusts). Practically speaking his quality of life is already set and will remain largely unchanged whether he has $60 million or $560 million. There's only so much time and so much stuff to spend money on.DFV could have pulled out at $400M somewhere in the morning
Pump and dump right? Who doesn't see $400M and walk away
DFV isn't like me or you
Didn't budge
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CoreyFlawless
Member
What’s prMarket?
FalconPunch
Member
Premarket trading is the buying and selling of stocks outside official market hours. During premarket trading, prices can either be a little elevated or a little deflated due to a lack of volume. If one is lucky, it can be advantageous to sell or buy in premarket. In my case, I sold my gamestop shares for $40/share in premarket and when the market opened officially, the price dropped to about $28/share. So it allowed me to sell high and re-buy in again at a low price increasing the amount of shares I own. However, I've now switched my strategy to buying in the market call options to increase my potential earnings.
*Nightwing
Member
Like precum but with money instead of shame
Codeblew
Member
I bought 500 shares on Monday for the heck of it and it has already almost doubled. I want to see what happens when he starts exercising his options. Must suck to be a short seller right now.
edit: Over double now in aftermarket trading. This is just getting started. Crazy.
edit: Over double now in aftermarket trading. This is just getting started. Crazy.
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Badlucktroll
Member
Should i buy a bunch of this tomorrow, or is it too late?
Draugoth
Gold Member
You can still buy but you wont be making a lot of money
I cant buy GME so good luck to everyone
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Badlucktroll
Member
I have one share in my portfolio that i got a from a while back that i kept to watch maybe it will do ok
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Draugoth
Gold Member
Profits?
Alex Anderson
Member
Lol i just googled the stock and said Jeeeeeeeeesus.
bumpkin
Member
Jesus, I wish I had tens of thousands of kicking around for whims like that. Respect, moneybags!
Codeblew
Member
It has over doubled in price so half if I sold is profit.
It was part of my new car fund. I don't like to take out loans too much if I can avoid it. I decided to wait for the 2025 models so it was just kind of sitting there doing nothing at the moment.
Bulletbrain
Member
I just happy this whole situation gave us this ABSOLUTE BANGER
SHORTS R FUK
SHORTS R FUK
kiphalfton
Member
I've been holding since 2021.
I held through the first spike, I held through when it was worthless, I held a couple weeks ago when it spike again.
I'll probably hold through this inexplicably, due to some other stupid reason
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Buggy Loop
Member
$62 now after hours
Did you know that when it reaches $69 that DFV is a billion dollar man?
Can’t make this up and it’s true. We live in a simulation at this point.
Did you know that when it reaches $69 that DFV is a billion dollar man?
Can’t make this up and it’s true. We live in a simulation at this point.
Badlucktroll
Member
it dropped hard today. will it go up?