The Official Stock Market Thread

[GeechQuest]

Originally Posted by monkeymcgee

I reopened a smaller position in GME at $300 after the short interest drop never really materialized. I’ll hold this until that changes significantly. As you said, another chaotic opening in store for us today.

It’s going to suck for anybody who shorted this when all the calls end ITM tomorrow. Just a tighter squeeze should people exercise as they take more shares out of the pool.

Supply vs Demand is undefeated and as of right now there is a base level of a GUARANTEED ~140% demand for the stock at any price.

Until that drops, the price will go higher day by day.

[hairysasquatch]

STONKS!

[cnewby]

Originally Posted by finfangfan

XSPA up to $2.95 in premarket this morning. Apparently it’s another heavily shorted stock and is getting caught up in that. I didn’t know about that when I bought into my small position... I was just buying for the COVID screening at airports concept in the unlikely event it took off.

Comon XSPA!!!

[monkeymcgee]

Originally Posted by finfangfan

I’m actually going to miss the open as I will be out on an errand. Probably wouldn’t be able to buy/sell anything anyway in first 20 mins but I will probably miss a few great buying opportunities while I’m out but hopefully not too many selling opportunities.

And congrats on once again likely making $ on GME. I was too chicken for that one.

Thanks, but I can't claim much fortitude. I let the CNBC dog and pony show yesterday morning about Melvin closing their shorts cost me about $75k in missed gains due to selling too early. Looks like they may just have moved those to another firm rather than actually closing.



As a general comment, for those coming down against the side of the people buying ownership in GameStop--the hedge funds have had weeks now to close their shorts as the stock has gone up. You would think when it hit 10x, 15x, or 20x they would have. Instead, it seems new shorts are popping up. They seem to think they will either ride this down or get bailed out. Now that's irresponsible and negligent.

[NeedChapmans]

Originally Posted by RW3isTHEGOAT

makes sense, but when does the stock go down though?

When the collection of both buyers and sellers decide it has no value.

Until this happens, together, the stock will continue to rise. As you see today; it has yet another $7B in value overnight from people just plugging away.

I do expect the other fun stocks to find their way back to zero; they all can't "Hold the Line" forever but GME will be the one that lasts the longest.

[Boo]

Originally Posted by monkeymcgee

Thanks, but I can't claim much fortitude. I let the CNBC dog and pony show yesterday morning about Melvin closing their shorts cost me about $75k in missed gains due to selling too early. Looks like they may just have moved those to another firm rather than actually closing.



As a general comment, for those coming down against the side of the people buying ownership in GameStop--the hedge funds have had weeks now to close their shorts as the stock has gone up. You would think when it hit 10x, 15x, or 20x they would have. Instead, it seems new shorts are popping up. They seem to think they will either ride this down or get bailed out. Now that's irresponsible and negligent.

The problem with these stocks is that once there is a hint of the price going down, everyone and their brother will be tripping over themselves to get out. They will crater faster than the rise. I've played a little and hold a little still but will not get greedy.

[NeedChapmans]

Originally Posted by monkeymcgee

As a general comment, for those coming down against the side of the people buying ownership in GameStop--the hedge funds have had weeks now to close their shorts as the stock has gone up. You would think when it hit 10x, 15x, or 20x they would have. Instead, it seems new shorts are popping up. They seem to think they will either ride this down or get bailed out. Now that's irresponsible and negligent.

No.

The funds will win. This is inevitable.

[rcmb3220]

NAKD is skyrocketing. A company that at the beginning of the month had a ~$20M market cap and loses more than that each quarter.

[NeedChapmans]

Originally Posted by rcmb3220

NAKD is skyrocketing. A company that at the beginning of the month had a ~$20M market cap and loses more than that each quarter.

Taking advantage by offering another $50MM in stock.

At this point, it's pure negligence that GME isn't doing the same.

[GeechQuest]

Originally Posted by Boo

The problem with these stocks is that once there is a hint of the price going down, everyone and their brother will be tripping over themselves to get out. They will crater faster than the rise. I've played a little and hold a little still but will not get greedy.

That’s not a problem with GME. It has baked in demand.

If the price drops it would be smart for the shorts to cover, and then they’d send it higher. Them sending it higher from buying will start the frenzy again.

I’m not selling until the shorts are under 100% of the float. There will still be meat on the bone past that, but that’s my exit. 40% away from that happening.

[finfangfan]

Originally Posted by cnewby

Comon XSPA!!!

Lol... did you buy any? It’s up to $3.12 a share now premarket.

[cnewby]

Originally Posted by finfangfan

Lol... did you buy any? It’s up to $3.12 a share now premarket.

250 shares at 2.12

[finfangfan]

Sweet... good luck!

[GeechQuest]

Originally Posted by NeedChapmans

Taking advantage by offering another $50MM in stock.

At this point, it's pure negligence that GME isn't doing the same.

They should and I suspect they will. It will be gobbled up by shareholders though and people who shorted are still on the same position.

[xbignick]

Robinhood not allowing certain people to buy GME, AMC apparently.

[Brobocop]

Every call option written for the next few weeks looks like it's in the money. BUY AND HOLD.

[patchgenie]

Originally Posted by hairysasquatch

STONKS!

only go UP

MLND should be close to a reverse merger if you guys want to join me there. no CEO and no workforce pretty much.

[xbignick]

Originally Posted by xbignick

Robinhood not allowing certain people to buy GME, AMC apparently.

Seeing screenshots now. You can sell Nokia but they are not allowing people to purchase.

Everyone on my my timeline from NFL memes to random political reporters are tweeting about this.

[Links242]

Originally Posted by xbignick

Robinhood not allowing certain people to buy GME, AMC apparently.

That is market Manipulation and not right at all.
How is this even allowed.
Wow.

Class action is coming for them.

[xbignick]

From up $70 a share pre-market to now trading under yesterday's close. Multiple brokers down yesterday, half dozen halts at arbitrary times, now restricting trading.

The movie about this is going to be pretty interesting.

Looks like Dave Portnoy is leading the charge against Robinhood.

[Brobocop]

This is downright fraud. If anyone didn't think the market was rigged prior to this, they need to think again. Gross.

[Links242]

Originally Posted by Brobocop

This is downright fraud. If anyone didn't think the market was rigged prior to this, they need to think again. Gross.

100%

this is disgusting.

[carlo16]

Worst part about GME is it has attracted flies to this thread. PG has been beaten up lately. Still probably priced fairly but I’ll own it till I die.

[swerve]

Wow, now who is manipulating the market? That is crazy!

Sadly, I did add NOK to my watchlist recently but I guess I will have to sit on sidelines for now. Was hoping for an entry closer to $4.

[GeechQuest]

I don’t know how anybody can see this and have any faith in the market. You can only buy and sell at levels some quant allows you to? They’re literally picking and choosing what you can buy and sell.

Why buy any stock? Why invest in anything?