GME The Bull Case it's starting to feel a little Squeeze!
There exists a short term and long term bullish case for GameStop. Fuelled by the last short squeeze this company has a strong cash position thanks to investors buying up new share issues and is poised to begin turning a profit in its retail division thanks to store closures. Patience may be required to see these consolidations begin to take effect and the company is likely to post another loss during earnings season.
Potentially 70% of the float are currently being held by insiders, institutions and a community of angry APES who refused to go away. One source says this community of Apes has switched shares to the Direct Ownership category effectively blocking 28% of the float from the hands of the short sellers. Yet, for some reason as of the end of April short interest was 27.73% of the float.
This development if true is unbelievable. What we might be witnessing with substantial increases in volume the past few weeks is the beginning of round 2 of this David vs Goliath battle. Unable to yield to the power of the community these brazen hedge fund managers have set themselves up to be taken down yet again.
If the bullish falling wedge breakout indicated by the circle plays out we’re about to see a spike higher soon.
I’m in and it’s on like Donkey Kong!
Potentially 70% of the float are currently being held by insiders, institutions and a community of angry APES who refused to go away. One source says this community of Apes has switched shares to the Direct Ownership category effectively blocking 28% of the float from the hands of the short sellers. Yet, for some reason as of the end of April short interest was 27.73% of the float.
This development if true is unbelievable. What we might be witnessing with substantial increases in volume the past few weeks is the beginning of round 2 of this David vs Goliath battle. Unable to yield to the power of the community these brazen hedge fund managers have set themselves up to be taken down yet again.
If the bullish falling wedge breakout indicated by the circle plays out we’re about to see a spike higher soon.
I’m in and it’s on like Donkey Kong!