BradWeber82

GME 1hour - WSB pump in action

NYSE:GME   GAMESTOP CORPORATION
Please dont enter positions on this.

Please.

If you follow Gamestop, people have been pumping this for months, they've been loading calls and shares, and there is absolutely ZERO reason that this stock should be up 68% (at time of post) today on ZERO news. NONE. There is no catalysts except for new board members? You mean to tell me THAT causes a company that is actively closing stores to go up 68% on a random Wednesday in January???? This is a prime example of what it means when a group of traders (a large group) gets together and causes a stock to run).

No. Im not buying it. Literally not buying it.

NO OPEN POSITIONS and staying away entirely. I suggest you do the same.

$GME $SPY
Comment: Adding some updates to my post:

First - I am now more aware of what a short squeeze is and I am thankful for all the info I received.

Second - I still stand by my statement, I think if you have no open positions you should stay away entirely. I dont think it sustains this momentum right now.
Comment: Ok you can always go hindsight on your positions. I can look through pages upon pages of trades I've made and trades I didn't make that ended up similar to this. I never had a position in GME, never had plans except for buying some options which I never did. It is great to watch this unfold. But I still stand by my statement on the other chart I made - this company is completely overvalued and not worth anything near this price.

Comments

I dare you to short it
+17 Reply
It's because there was more short interest than float. A faction of WSB just squeezed out a $7 billion hedge fund (Melvin Capital).
+7 Reply
BradWeber82 presstrade
@presstrade, damn. thanks for the information I appreciate it!
+2 Reply
Mezmon2 BradWeber82
@BradWeber82, its been shorted by 130% btw. Try to search for previous stocks in history that were shorted to even close to this and see what the squeeze resulted in.
+3 Reply
BettingtheShirt BradWeber82
@BradWeber82, see what happened to VW as well when it was shorted. It may not happen in one fell swoop but in the next weeks ...
+1 Reply
BradWeber82 BettingtheShirt
@BettingtheShirt, yeah I need to read more about it! What year was it? Thank you!
Reply
whoof presstrade
Can you please elaborate a little on this? Float?
+1 Reply
@whoof, More shorted shares than issued shares - so the short sellers are hyperextended. The holders are now 100% in control of the stock so if GME doesn't rise it should stay at elevated levels for some time. We'll see. Interesting situation and one for the books. No one will blame you for staying away, but I also wouldn't short this monster anytime soon.
Reply
whoof presstrade
@presstrade, from my understanding short stock availability is based off longs offering up the stock, so I don't see how it could overextend the number of shares issued.
+1 Reply
@whoof, Actually, the way Cramer phrased it made it sound like the stock was overshorted. https://youtu.be/yBC5RJd1J9w?t=333
+1 Reply
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