Gamestop mania back. Halted several times already. Up over 90% at the moment.
- Thread starter EdwardoCarrachio
- Start date
I’ve said it before but I’ll say it again. There are a lot of people in this country and half of them are below average.
The game being played is watching the short sellers. There are a cadre of people that buy whenever they see the hedge funds start shorting the stock.
For many, they think the hedge funds are manipulating the market so they counter buy to punish the hedge funds. It’s a risky game to play.
For many, they think the hedge funds are manipulating the market so they counter buy to punish the hedge funds. It’s a risky game to play.
The problem isn't short selling IMO. It is naked shorting. So GME when it first went nuts had more shares shorted than it had in existence. Hedge funds were shorting it, never covering, and then shorting the same exact shares again. They were borrowing shares and then failing to deliver the borrowed shares.
And based on these abuses of shorting, I think it ought to be eliminated. It undermines a legitimate market. Plus, their goal is to force companies to go under so that they never have to cover.
And people are seeing that and intentionally bidding up shares of those over shorted companies to punish the hedge funds for playing games with the system.
It’s quite the battle.
Well, I've seen it posted that etrade was down for at least some key parts of the day. The halting on GME trading at its peak today for a decent amount of time when it was up 90% was followed by a significant price drop immediately when it resumed of which traders were skeptical. And GME had 25X average trading volume today but only jumped 74%. Many traders believed with that massive increase in volume that the share price should have moved much, much higher.
So GME and AMC are both up another 60% or so this morning in premarket trading. If you didn't touch it yesterday, I'm not sure that jumping in now is wise. I think the only way you do this is if you jump in and then back out relatively quickly and even at that it is a huge risk. But hey, probably better odds than throwing your money at the lotto games or any casino.
Ok, now they are up like 80% in premarket. Others that followed GME like BB are now starting to pop.
Update, some other high short interest stocks are now taking the main stage. GME up only 70% now, AMC only up 50% today. But FFIE is up 265% today and SPWR is now over 80%.
Clearly, the same hedge funds that short GME and AMC are working these other high short interest stocks.
Clearly, the same hedge funds that short GME and AMC are working these other high short interest stocks.
I read that the person or group that started the gamestop thing a while back got banned from Twitter and he/it was reinstalled today. cause or effect?
I think these people are gaming computer trading. They know that when a stock hits a certain set of criteria, the computers kick in with a "buy". and I am speaking about day traders who try and hit short-term gains as opposed to traders who buy and sit. These people buy up a ton to trigger the computers and get a huge gain since they are early in. Then they short it and win when it comes back to earth.
I think these people are gaming computer trading. They know that when a stock hits a certain set of criteria, the computers kick in with a "buy". and I am speaking about day traders who try and hit short-term gains as opposed to traders who buy and sit. These people buy up a ton to trigger the computers and get a huge gain since they are early in. Then they short it and win when it comes back to earth.
GameStop Stock Soars (Again) as Influencer Roaring Kitty Makes Comeback
GameStop stock soared to 110% Monday ... all thanks to a cryptic social media return from viral day trader Roaring Kitty -- who memorably caused this to happen a few years ago.
www.tmz.com
So GME finished up 60% yesterday and is only up 5% in premarket (was higher). The price has nearly tripled from monday morning.
AMC finished up 32% yesterday and is only up fractionally now in premarket (was 10%). Their share price has slightly over-doubled since monday morning.
And then FFIE and others jumped on board yesterday. FFIE finished up 367% yesterday and is currently up over 90% above that in premarket today. So the price is about 7X what it was yesterday morning.
AMC finished up 32% yesterday and is only up fractionally now in premarket (was 10%). Their share price has slightly over-doubled since monday morning.
And then FFIE and others jumped on board yesterday. FFIE finished up 367% yesterday and is currently up over 90% above that in premarket today. So the price is about 7X what it was yesterday morning.
Shorts seem to have gotten the main effort of meme traders under control. The market is having a nice couple of sessions this week so far. CPI inflation came in a tenth of a percent lower than last month (PPI was higher than expected) and Consumer Spending came in surprisingly weak. Investors see this as potential cover for the FED to do rate cuts sooner. Mainstreet knows that it could potentially signal coming recession. Still very poor inflation-adjusted performance this year and the last few. But I'll take green days whenever I can get them at this point.
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I figure #s will be up and down until the election. Just my hunch.
FFIE looks like a crypto with its highs from 3 years ago and being a penny stock days ago. Thats...scary.
Up 11.1% in the last 2.5 years, almost identically the same as inflation. If you invested in this bull market S&P index, you would be able to buy exactly the same amount today as Nov 2021. That's pretty good compared to other places to have parked your cash.
Your math is either wrong or dishonest. (5297-3557)/3557 = 48.9% using the S&P on Nov 16th (3.5 years). In that time, inflation is up (1.07*1.065*1.034*1.02)-1 = 20.2%.
Therefore, on inflation-adjusted annual basis the S&P has returned (48.9-20.2)/3.5 = 8.2%. That's almost average and about half of what it was in the 4-year period prior that.
The NASDAQ is an interesting case. It just went above 0% return recently in that timeframe on an inflation-adjusted basis. It was of course 32.53% on an annualized inflation-adjusted basis in the previous 4-year period.
However, that is better than the Russell 2k (small cap companies) that is still net negative return over that timeframe and actually over 20% negative on an inflation-adjusted basis. Small companies have been obliterated over the last few years.
Getting us back on track here as NJ wanted to broaden the discussion, but FFIE is now up 184% today or a little over 12 times higher than it was at close 2 days ago.
Early November 2020 S&P 500 was 3369.
Currently 5300.
(5300-3369)/3369 = over 57%.
Incredible bull market.
You said 3.5 years. I did the math by the exact day, exactly the period that you had specified. If you keep pushing your starting point back into the 4 years that preceded the 3.5 years of your claim, yes, of course the ROI will go up. Those 4 years had record returns AND low inflation. If you want to count more than 3.5 years, then state that amount of time in your claim.
Like I had said, the last 2.5 years the S&P return has matched inflation nearly perfectly. So yes, before that was a strong return. I wonder what was before that? So 4 years of record returns and low inflation, then almost 1 year of continued strong returns and rising inflation, then 2.5 years of the S&P returning nothing against inflation.
But you should try to stay on topic. Reread the thread title. It is about the meme stocks returning. We aren't supposed to be discussing the broader market.
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Incorrect. This is what I wrote.
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or so
phrase of or
- (after a quantity) approximately.
"a dozen or so people"
Jersey boy is an idiot. The market started going up as soon as the first vaccine was approved . Two more approved before Trump left office. That allowed people to re-engage in commerce and the economy along with the stock markets, to revived.
THANK GOD FOR PRESIDENT TRUMP!!!
Ok, you weren't as precise I had given you credit. That isn't surprising. If we want to use or so, do you accept if I do the math from 3.3 years ago? It's 3.5 years or so. Or do you not like those numbers as much because they are much, much lower?
Also, why keep going back to a topic that we aren't supposed to be discussing? That isn't the topic of the thread, and you are fully aware of it and keep attempting to hijack the thread.
He's playing dumb and simultaneously trying to get the thread removed. He knows that we aren't supposed to be discussing the topic that he keeps going back to but he doesn't care about the rules here. And if it is to his team's advantage to misrepresent results by using a starting date of Nov 1st, 2020 then he will. He's just a dishonest @$$
FFIE up another 65% this morning and halted. It's getting the GME treatment. If you were in 3 days ago with $10k, you would be sitting on $190k right now.
And FFIE daily gains are cut right in half after the halt is released. It's very predictable and corrupt IMO. The halting of the trading is meant to give the hedge funds time to gather funds to cut into the gains. Sad.
Were you in 3 days ago?
What about 2?
Yesterday?
Just curious if you took a ride on the wave.
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