6 ms·

well it just dumped.

toomuchtodo 6y ago
You should expect a high amount of volatility for this symbol considering it's high profile currently (Reddit WSB, Bloomberg front page, etc). Disclosure: Long GME.
- woah 6y ago
  What’s the actual long GME hypothesis? From WSB, I’ve read 3 things 1. Ryan Cohen joins board. Ok, I like chewy.com but having this one dude on the board is really worth 20x in the company’s value? 2. They plan to sell PC parts. Again, really? And right before a bunch of new consoles are released? 3. People have some vague idea that they might start a Steam competitor. Does GameStop have any expertise, talent, or IP to do this? The only thing they bring to the table is their trademark, and it’s not really a great one.
  - seabird 6y ago
    Long just means "not short", and not that they think GME is currently at a reasonable price. No rational actor in this situation believes that.
    - sushid 6y ago
      Long means that they're holding shares or call options. Not sure why you're redefining a well-known term on the parent commenter's behalf.
      - seabird 6y ago
        I haven't redefined anything; your definition of "long means that they're holding shares or call options" is completely in agreement with my statement that "long just means not short." The parent seems to be conflating having a long position and believing in the long-term performance of the company. They're asking about long-term changes in GameStop's business when the person he's asking about this could very well be planning on being long in GME for the duration of this squeeze (or the most extreme parts of it) and bailing in the next 1-4 weeks after it has played out.
        sokoloff 6y ago
        Long doesn't "just mean not short". There are 500 symbols in the S&P 500 that I'm "not short". I'm also "not long" 500 of those same symbols.
        seabird 6y ago
        That's true, but I think it's a very fair assumption that the parent of my initial comment realizes that the grandparent has a position, considering that they're asking why they took that position.
        woah 6y ago
        You are correct
  - deleted 6y ago
    [deleted]
  - mcv 6y ago
    The 20x value doesn't come from Ryan Cohen, it comes from short-sellers being in too deep. Short-sellers have to buy in order to close their short, and that's guaranteed, and from what I understand, very inelastic demand. That's the real path to profit here: short-sellers having no option but to buy ridiculously overpriced shares in order to settle their shorts.
Miner49er 6y ago
No it hasn't? At least I wouldn't call being up 40%+ in a day a dump.

You should expect a high amount of volatility for this symbol considering it's high profile currently (Reddit WSB, Bloomberg front page, etc). Disclosure: Long GME.

woah 6y ago
What’s the actual long GME hypothesis? From WSB, I’ve read 3 things 1. Ryan Cohen joins board. Ok, I like chewy.com but having this one dude on the board is really worth 20x in the company’s value? 2. They plan to sell PC parts. Again, really? And right before a bunch of new consoles are released? 3. People have some vague idea that they might start a Steam competitor. Does GameStop have any expertise, talent, or IP to do this? The only thing they bring to the table is their trademark, and it’s not really a great one.
- seabird 6y ago
  Long just means "not short", and not that they think GME is currently at a reasonable price. No rational actor in this situation believes that.
  - sushid 6y ago
    Long means that they're holding shares or call options. Not sure why you're redefining a well-known term on the parent commenter's behalf.
    - seabird 6y ago
      I haven't redefined anything; your definition of "long means that they're holding shares or call options" is completely in agreement with my statement that "long just means not short." The parent seems to be conflating having a long position and believing in the long-term performance of the company. They're asking about long-term changes in GameStop's business when the person he's asking about this could very well be planning on being long in GME for the duration of this squeeze (or the most extreme parts of it) and bailing in the next 1-4 weeks after it has played out.
      - sokoloff 6y ago
        Long doesn't "just mean not short". There are 500 symbols in the S&P 500 that I'm "not short". I'm also "not long" 500 of those same symbols.
        seabird 6y ago
        That's true, but I think it's a very fair assumption that the parent of my initial comment realizes that the grandparent has a position, considering that they're asking why they took that position.
        woah 6y ago
        You are correct
- deleted 6y ago
  [deleted]
- mcv 6y ago
  The 20x value doesn't come from Ryan Cohen, it comes from short-sellers being in too deep. Short-sellers have to buy in order to close their short, and that's guaranteed, and from what I understand, very inelastic demand. That's the real path to profit here: short-sellers having no option but to buy ridiculously overpriced shares in order to settle their shorts.

Miner49er 6y ago

No it hasn't? At least I wouldn't call being up 40%+ in a day a dump.