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The Battle of GameStop

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Re: The Battle of GameStop

#311

Post by throwaway894345 »

watwut wrote: post #187
throwaway894345 wrote: post #87

Earlier quoted context omitted.

The argument is that we’re working to keep a roof over our heads now because we YOLOed through college. And while that doesn’t describe me, I had a lot of peers who partied through college, skipped classes, hardly worked, majored in women’s studies / art history / literature / etc and still managed to live in the dorms, buy daily lattes, have the latest iPhones, etc.

> partied through college, skipped classes, hardly worked, majored in women’s studies / art history / literature / Some of those things are not like the other. I studied computer science, plenty of people partied and as far as I can tell, people who studied humanities like literature had to work more. It was not easier major in terms of how much you have to work. I liked computer science, so I am always surprised abo…

My point about degrees wasn’t that some are more or less rigorous (although I haven’t heard of many rigorous women’s studies or art history programs), but rather that they aren’t going to pay well on the other side. I’m very skeptical of the claim that these programs are comprised mostly of the independently wealthy.

> Majority of students go for practically sounding degrees - like various business related degrees. They tend to learn to like them somewhat, but generally are not intrinsically motivated to be accountants or what not at first. They are not making childhood passion based decisions, but the "what gets me job" decisions.

I welcome some evidence here. I’m very skeptical.

Re: The Battle of GameStop

#312

Post by thrwyoilarticle »

tinyhouse wrote: post #104

Today I noticed that Bad Bath and Beyond rallied 40% in the morning with no major news. It closed only +1.5%. I was wondering what's going on. I think that's one warning sign not to invest in companies that often flactuate greatly with no major news. It often happens with small companies so it's good to stay away from such companies. But BB&B seem to have a market cap of a few billions so it's not expected.

Jim Cramer barely stopped to breath between mentioning BB&B yesterday.

Re: The Battle of GameStop

#313

Post by dmurray »

viraptor wrote: post #245
dmurray wrote: post #228

Earlier quoted context omitted.

At least in this case, GameStop has filed to raise up to $100,000,000 through an ATM offering (selling shares to the public) [0]. So yes, the recent activity does help the company, in so far as GME is a company that can be helped by getting its hands on more cash. [0] https://www.sec.gov/Archives/edgar/data/1326380/000119312520...

Did that go through? Releasing new overpriced shares while the price is being obviously raising unrelated to the company performance sounds super dodgy.

They planned to sell them before the current rally (the document is dated December 8). They haven't released details of how many they sold, or on what dates.

It's not clear what view the SEC would take if they fast tracked an ATM offering now. Hertz were told to knock it off, but they were literally trading in bankruptcy. There's a pretty good argument to be made that issuing more shares is if anything the responsible thing to do to in response to increased demand, since it would help to correct the anomalous price rally.

Re: The Battle of GameStop

#314

Post by throwaway894345 »

necrotic_comp wrote: post #292
watwut wrote: post #187

Earlier quoted context omitted.

> partied through college, skipped classes, hardly worked, majored in women’s studies / art history / literature / Some of those things are not like the other. I studied computer science, plenty of people partied and as far as I can tell, people who studied humanities like literature had to work more. It was not easier major in terms of how much you have to work. I liked computer science, so I am always surprised abo…

I agree with this statement. I had two majors: Religion (history/study of, not theology) and Computer Science. My Religion degree, esp. when we got to things like post-modern criticism and Hegel, were leap-years more difficult than anything we had to study in computer science. So, yeah, I take umbrage to people saying that the humanities are easy. (The Religion degree was incredibly interesting, too, though ultimatel…

To be clear the argument wasn’t that the degrees weren’t difficult but that they aren’t valuable to employers and one shouldn’t expect to easily pay down their debts without a more valuable degree. Majoring in Religion alone would be imprudent for most people.

Re: The Battle of GameStop

#315

Post by thrwyoilarticle »

mbg721 wrote: post #110

When everyone pouring their life-savings into index funds stops working, it's going to hurt very hard.

We pour our money into index funds with the understanding that they will continue to perform like one American index did for 2 decades during a time when a) index funds didn't exist b) index funds didn't make up 50% of all invested money c) the internet wasn't widespread.

If your retirement plan can't accommodate Nikkei-tier growth, you are Wall Street gambling.

Re: The Battle of GameStop

#317

Post by PartiallyTyped »

fennecfoxen wrote: post #293
PartiallyTyped wrote: post #231

Earlier quoted context omitted.

Counter Point $AMD was at $0.15, AMD was the only company besides Intel that actually had x86-64 patents. Intel would have never let AMD fail because they would be a monopoly and that is worse than leading a duopoly. Notice the bean counter Intel ceo, the yields getting worse over time, the performance not improving besides a 1-2% year over year and Intel getting complacent, repeatedly to screwing over the customer w…

These remarks are presented for the interest of passerbys, not because the comment I reply to has merit and deserves them. Counterpoint 1: AMD was a chipmaker with skilled engineers on staff and a growth story where they could seize market share with better technology. Gamestop is a retailer with retail clerks on staff and a story where increasing competition from PC and console app stores slowly eats away at their m…

> These remarks are presented for the interest of passerbys, not because the comment I reply to has merit and deserves them.

Ouff.

> AMD was a chipmaker with skilled engineers on staff and a growth story where they could seize market share with better technology. Gamestop is a retailer with retail clerks on staff and a story where increasing competition from PC and console app stores slowly eats away at their market share. Exact same thing, right?

Do your due diligence this is just one, https://www.gmedd.com, there have been many others and they all converge to the same argument. GME is worth much more than the $10 PT given by analysts.

> Counterpoint 2: Saying the price target is wrong is one thing, and may in many circumstances be eminently defensible. Saying the correct price is $50-$150 is another.

Except citron was wrong in every single price target they have given by more often than not an order magnitude, except for 1. If you pay enough attention, you will see that many of the same 'pages' play both the bull and bear game, if only to come out and say they were correct.

> Counterpoint 3: This exemplifies the thinking going on here. "I don't understand the stock market and think someone is screwing us over. Let's define our own alternate reality, and gang up on them for revenge! Revolution!"

Had you done your due diligence and paid attention to the situation as it unfolded, you'd have seen that the market made sense, the stock was over shorted and in no way reflective of the actual price targets created by various models and analyses such as the one I linked above.

> Last time we saw that show was January 6. For a few people, who get out at the right time, this will be a much more successful revolution, but on the whole, it succeeds only with a transient disruption, and harm the individual would-be revolutionaries the most.

We saw that show in every single revolution. This only reinforces the belief that the average proletariat is getting screwed over and manipulated by the same class of people. Hint, it was the proletariat that paid for the greed, not the institutions, the hedge funds or the MMs. It is the proletariat that are stuck between a rock and a hard place, it is the proletariat that are getting manipulated into intra class wars.

Re: The Battle of GameStop

#318

Post by [deleted] »

55555 wrote: post #303
ollifi wrote: post #224

Earlier quoted context omitted.

/r/wsb is kind of insanity, but I’ve come to think that maybe young person can YOLO a bit against the odds somewhere in life. If something returns poorly on average, but has high payouts at the top it might just work out. Your life won’t be the average case but single sample. Lottery is too improbable but some other things ”no rational person would do” can be ok. Main thing is to get over with it soon and protect the…

> I’ve come to think that maybe young person can YOLO a bit against the odds somewhere in life. If something returns poorly on average, but has high payouts at the top it might just work out. Your life won’t be the average case but single sample. This is indeed, after all, a website about founding startups.

[deleted]

Re: The Battle of GameStop

#319

Post by stewx »

dvt wrote: post #6

> The same emotion that caused us to root for the thieves in Ocean’s 11 is what makes Wall Street Bets so enticing. Put frankly, Millennials are tired of getting fucked by the man. When you’re underemployed with $100,000 in student loan debt, your financial situation feels overwhelming. You really don’t want to take the advice of your parents or CNBC talking heads [5] to invest 10% of your salary for a 4% annual retu…

> invest 10% of your salary for a 4% annual return

Except we have had bull markets for several years now. It has been an excellent time to be in the market. S&P500 returns for the past 5 years:

2016: 9.54% 2017: 19.42% 2018: -6.24% 2019: 28.88% 2020: 16.26%

Re: The Battle of GameStop

#320

Post by killtimeatwork »

AnIdiotOnTheNet wrote: post #284
killtimeatwork wrote: post #209

Earlier quoted context omitted.

The reality is that, 50 years ago, when only the smartest people attented colleges, a college degree used to be a proxy for aptitude (a combination of intelligence and willingness to work hard). It didn't matter that much what you studied, just having that college diploma meant that you're smart enough to be able to contribute in a non-trivial manner in any company, and will likely be heading for a managerial positio…

> The reality is that, 50 years ago, when only the smartest people attented colleges, a college degree used to be a proxy for aptitude (a combination of intelligence and willingness to work hard). I don't believe that's true at all. Historically, in the US anyway, a university education was a wealth signal more than an intelligence or work ethic signal.

Perhaps that's true in the US. Here in Eastern Europe, University education was pretty elite (in terms of intellectual requirements) before the "democratization" of higher ed. Heck, high school before the war was most likely mentally harder than many higher degrees are today.
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