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How WallStreetBets Pushed GameStop Shares to the Moon

bloomberg.com

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Re: How WallStreetBets Pushed GameStop Shares to the Moon

#4

Post by the_drunkard »

Institutional hedge funds got greedy and they're getting punched in the gut by retail investors; personally i think it's nice to see.

A few comments on the price action:

1) true short interest is unclear; remaining short-sellers will likely be forced to "buy to cover" over the next few days, potentially driving the price even higher.

2) WSB users invested heavily in call options; "exercising a call" option can also drive price action higher if they were sold a "naked call".

Re: How WallStreetBets Pushed GameStop Shares to the Moon

#6

Post by boatsie »

I’ve been following this for a few months and it’s really interesting to me that retail investors could actually have this sort of influence on a non penny stock. Given the high volume of trading, it doesn’t seem like there would be enough buyers to drive the price up this high, and institutional buyers I would think are staying away from something that seems to move so far away from its fundamentals. This is very different from the run up in Signal Advance caused by Musk’s tweet or people buying the wrong Zoom stock. There is very real volume here.

Re: How WallStreetBets Pushed GameStop Shares to the Moon

#7

Post by chovybizzass »

boatsie wrote: post #6

I’ve been following this for a few months and it’s really interesting to me that retail investors could actually have this sort of influence on a non penny stock. Given the high volume of trading, it doesn’t seem like there would be enough buyers to drive the price up this high, and institutional buyers I would think are staying away from something that seems to move so far away from its fundamentals. This is very di…

well it just dumped.

Re: How WallStreetBets Pushed GameStop Shares to the Moon

#8

Post by toomuchtodo »

chovybizzass wrote: post #7
boatsie wrote: post #6

I’ve been following this for a few months and it’s really interesting to me that retail investors could actually have this sort of influence on a non penny stock. Given the high volume of trading, it doesn’t seem like there would be enough buyers to drive the price up this high, and institutional buyers I would think are staying away from something that seems to move so far away from its fundamentals. This is very di…

well it just dumped.

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.

Re: How WallStreetBets Pushed GameStop Shares to the Moon

#9

Post by Miner49er »

chovybizzass wrote: post #7
boatsie wrote: post #6

I’ve been following this for a few months and it’s really interesting to me that retail investors could actually have this sort of influence on a non penny stock. Given the high volume of trading, it doesn’t seem like there would be enough buyers to drive the price up this high, and institutional buyers I would think are staying away from something that seems to move so far away from its fundamentals. This is very di…

well it just dumped.

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

Re: How WallStreetBets Pushed GameStop Shares to the Moon

#10

Post by scsilver »

boatsie wrote: post #6

I’ve been following this for a few months and it’s really interesting to me that retail investors could actually have this sort of influence on a non penny stock. Given the high volume of trading, it doesn’t seem like there would be enough buyers to drive the price up this high, and institutional buyers I would think are staying away from something that seems to move so far away from its fundamentals. This is very di…

I think that the startups like plaid who enabled quick easy bank deposits, has opened the flood gates of saving accounts into the market.
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