Posted on 03/08/2021 12:49:45 PM PST by Democrats hate too much
The media is not talking about it too much right now, but it appears we may be starting the greatest Short Squeeze in history.
There are only about 70 million shares where about 20 million are insiders. Reports say that on Friday Institutions reported owning about 125 million shares. That does not include retail and does not include insiders.
https://www.youtube.com/watch?v=mY_sk907MYg
Isn’t it against the law to rent out a stock more than once once?
It is believed that this situation started from Illegal Naked Shorting that only got worse and worse and worse, and now here we are. Word on the street is that this may have to take at least 15 days for shorts to cover, at the least.
Any way we can make some money on this?
“we can make some money” and if we you who whoever knows what they are doing big fat Maybe.Go for it
IF the thesis is correct, buy GME in your brokerage account, and then sell it at a sufficiently higher price. Knowing, though, that if the thesis is incorrect, you could lose most of your investment. GME is about $195 per share right now, and is said to be worth sub $10 per share. But, if a short squeeze happens, it could go to $1000 or more on its way to $10.
The best time to make money on GME has passed. I managed to make enough to pay off my home and buy a new truck. I posted about this before. I had a relatively small mortgage to pay off and was in need of a new vehicle so the timing couldn’t have been better.
Good job!
Any way I could learn this?
Thanks!
Once and twice...
Yes. Buy GME, as I did last week at 66, and added around 133.
nope
Their Market Model sucks..as does their biz plan...
That said...wishes and fishes...should have paid more attention
It actually appears to be just starting with the situation way worse than it was 2 months ago.
My son (19) has been saying the exact same thing for a couple of months. He is playing with spare change and has only dabbled in this stock.
Some are trying to say that it is like the company Blockbuster, but that idea is now getting passes off as old timer logic. Many things are different here. Very Different.
One interesting thing today is that the press did talk about the new CEO (who started Chewy) pulling people from his old startup Chewy company and people from Amazon to move GameStop to an ecommerce environment, like Netflix for Games. They are a month late as this is actually old news.
Is the company worth $10 or $50 or $1,000 in about 6 months? Ask any millennial who ever went to GameStop thinks about the ecommerce gaming idea. I dont play computer games but it is absolutely huge right now, in case anyone didnt know.
Blockbuster didnt capitalize on an illegal squeeze like this or even close to having any chance like this.
“If GameStop goes about this unique situation correctly”, they can turn this into a solid $80 - $100 billion dollar company (about $1,500 a share) in a few months and keep it there.
it is against the law to sell a stock you don’t have and doesn’t exist, which is what naked short selling amounts to. If you borrow a stock from your broker he gets it from a clearing house and lets you sell it. That’s all legal and not a bad thing. Of course you have to return it when certain conditions obtain, such as a sudden rise in value which cam make the value of your debt skyrocket. Then the broker calls and tells you you need to buy the stock back so he can replace it where he got it from. That’s known as a margin call. When a bunch of people decide to artificially drive up the value of the stock just to create this situation, that’s what is known as a short squeeze. squeezing the guy who sold short.
GME was $45 on February 23rd and is currently trading just under $200.
Those who were short GME had their opportunity to cover their short position at a modest loss at $45.
The shorts are now in trouble again and we should expect a wild ride in the next few days.
GME might reach $1000 as the new squeeze is put into play.
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