User FOMO is strong with this one. Hit $220+ in the after market after a strong couple of days of wallstreetbets pumping made even sillier by Elon tweeting about it.
Going to be interesting to see what happens next and could be a good lesson in how to potentially trade these. I'd be mega short.
Elon Musk @ElonMusk 1h Gamestonk!! wallstreetbets • r/wallstreetbets Like 4chan found a Bloomberg Terminal
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$325 now off a high of $380. It is REALLY interesting watching this play out. If I was short some of the other high percentage shorts I'd be feeling VERY nervous now there is a new Bear Hunter strategy in play.
You should short it! We have taken 9 Billion and counting from shorts..
zAngus
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@LeviBehen, tried to take a position at $220 for short but Im outta spare cash. Have it all long in ARKs.
LeviBehen
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@Angusmck, You realize this is happening because the stock is 140% shorted...
zAngus
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@LeviBehen, yeah, I think it is currently most shorted stock on the exchange. Social media is basically bear hunting forcing short sellers to dump their positions at inflated prices. Depends how long the bears are prepared to hold out for.
LeviBehen
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@Angusmck, the shorts are losing about 1 Billion for every 11 dollars the price moves higher..
zAngus
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@LeviBehen, if I was a Gamestop staffer with shares Id be selling every stock I could...
wallstreetsgaybear
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@Angusmck, please please please short it. short it tomorrow at open if possible. thanks.
zAngus
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@wallstreetsgaybear, I kind of think I would try and "sell" at around $220 with a stop at say $250 and see what happened. Do you think they will be able to push the price much higher?
wallstreetsgaybear
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@Angusmck, oh. sorry dude. i was being sarcastic. i am not actually gay. the more gme is shorted, the more my calls print. but there will come a point where big guys like burry (1.7 M shares) get out of their position. that would end the run. until then, gme to $420. if they all choose to hold, the gamma squeeze will continue. or not. i am autistic so no serious advice here.
zAngus
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@wallstreetsgaybear, might have to try a bracket order in the pre-market tomorrow. I do find it fascinating. Whole new strategy driven by retail buyers.