Is Game Stop Legit?

[Raptorsin7]

Has anyone heard of this game stop stock situation? I have a few people in my life who believe strongly in this as a get rich quick scheme, and it seems to be an internet phenomena so maybe someone here has some insight.

Does anyone think this is a real opportunity to make money? Or is this delusion?

Any other thoughts. I'm curious to learn more about this

[hyruga]

It is legit in the sense that the business is really out there and it made 5 billions in revenue last year.

However, the current stock price is still overpriced. People are buying mainly to trade short term. Meaning one day it can be up 20%, another day down 20%, then up again. 

People are trading (buying and shortsell)! It is most exciting than other stocks.

[Yarco]

You're about 5 months too late

[Raptorsin7]

@Yarco Why am I late?

Do you actually understand the stock or are you just talking shit?

[Raptorsin7]

8 hours ago, hyruga said:

It is legit in the sense that the business is really out there and it made 5 billions in revenue last year.

However, the current stock price is still overpriced. People are buying mainly to trade short term. Meaning one day it can be up 20%, another day down 20%, then up again. 

People are trading (buying and shortsell)! It is most exciting than other stocks.

Have you heard the back story about the hedge fun short position? 

 

[hyruga]

2 hours ago, Raptorsin7 said:

Have you heard the back story about the hedge fun short position? 

 

Yes

Anyway, people are trapped in their homes or their country these days so they are more active online. So it's very likely the Game Stop's high volume of trading will keep on going for a while more. Or you can try playing the short positions.

[Raptorsin7]

@hyruga From what I've read so far the only way to make money is by exploiting the short position of the hedge funds. But I don't know what those positions are, or if they have already covered their positions.

I've heard people say they won't sell until it hits millions per share which sounds fantastical. But if the hedge funs have to cover at some point then theoretically GME could keep going up as long as the redditors etc refuse to sell unless they cash out big.

I'm only buying a few shares but if the share prices go to 50k to 100k i'd be super happy.

I don't have enough money to make real money on a short position. I'm just gambling and hoping to strike rich on the backs of compromised hedge funds

Edited June 3, 2021 by Raptorsin7

[Yarco]

4 hours ago, Raptorsin7 said:

@Yarco Why am I late?

Do you actually understand the stock or are you just talking shit?

Look at a 1 year chart. You think it's gonna 2x or 10x when it's already at $282, when fair market value is like $20 - $50?

That being said, what happened with AMC today is pretty interesting.

But people who have no idea how the stock market or finance work, and are learning about Gamestop 5 months after the initial hype, somehow missed the initial story even when it was on every mainstream media outlet for weeks, should stay a mile away from it. Quick way to get burned and lose all your money. There is no such thing as quick or easy money that doesn't come with exceptional risk (aka complete gambling.)

Edited June 3, 2021 by Yarco

[Raptorsin7]

@Yarco Isn't the entire thing dependent upon the short position of the hedge funds? The actual value is irrelevant as long as the company can remain viable, and that is looking more likely with who they chose as their new CEO, Andrew Cohen.

Do you have any position with game stop?

You sound like you don't know much about the topic either haha

Edited June 3, 2021 by Raptorsin7

[Yarco]

1 minute ago, Raptorsin7 said:

@Yarco Isn't the entire thing dependent upon the short position of the hedge funds? The actual value is irrelevant as long as the company can remain viable, and that is looking more likely with who they chose as their new CEO, Andrew Cohen.

Do you have any position with game stop?

The Gamestop short position was covered fucking months ago. It was over 100% short sold at the peak, now it's only 20% short sold. You're just parroting shit your friends are telling you with no real knowledge of what's going on or what it means. What are you talking about Andrew Cohen? There is no Andrew Cohen at Gamestop. George Sherman is the current CEO, has been since April 2019.

The saving grace used to be that you had to be smart enough to open a trading account to ruin your life with options trading. Now Robinhood made it as easy as installing an app.

No I don't own any GME. I thought about buying some when Reggie Fils-Aime and the Petsmart CEO joined the board in March 2020, based on actual fundamentals, but I didn't. Way before this meme stock stuff. No way in hell I'm aping into the bubble at this level.

[Raptorsin7]

https://en.wikipedia.org/wiki/Ryan_Cohen

My bad Ryan Cohen.

You sound very upset haha. It gives me confidence that someone like you is so against this thanks.