Darryl&Rita Posted January 27, 2021 Report Share Posted January 27, 2021 (edited) GameStop, GME, has been shorted hard by Melvin Capital. Some questionable statements were released on social media, trying to drive the price down. App RobinHood and homebound day traders have turned Bearish, driving the price up. Been a wild ride, that's still playing out. Hang on as the stock market faces the new way of doing business. Edited January 27, 2021 by Darryl&Rita Quote I have been wrong before, I'll probably be wrong again. 2000 Kenworth T 2000 w/N-14 and 10 speed Gen1 Autoshift, deck built by Star Fabrication 2006 smart fourtwo cdi cabriolet 2007 32.5' Fleetwood QuantumPlease e-mail us here. Link to comment Share on other sites More sharing options...
durangodon Posted January 27, 2021 Report Share Posted January 27, 2021 5 minutes ago, Darryl&Rita said: GameStop, GME, has been shorted hard by Morgan Stanley. Some questionable statements were released on social media, trying to drive the price down. App RobinHood and homebound day traders have turned Bearish, driving the price up. Been a wild ride, that's still playing out. Hang on as the stock market faces the new way of doing business. I don't think it's a new way of doing business, it's just allowed some new players. For decades, brokers and investors gathered in the back room and conspired to drive prices up or down for their own benefit and to cause loss to others. Now, ordinary people are doing it on social media, Reddit, etc. Quote Link to comment Share on other sites More sharing options...
Lou Schneider Posted January 27, 2021 Report Share Posted January 27, 2021 (edited) It's going to be interesting to see what happens when the feeding freenzy stops and the day traders who drove up the price so dramatically are left holding the bag as the price reverts to normal levels. Expect to hear lots of wailing when this happens. Edited January 27, 2021 by Lou Schneider Quote Link to comment Share on other sites More sharing options...
Barbaraok Posted January 27, 2021 Report Share Posted January 27, 2021 The ones who started it have already gotten out. It is the little investor that doesn't really pay attention to what is happening. Quote Barb & Dave O'Keeffe 2002 Alpine 36 MDDS (Figment II), 2018 Ford C-Max HYBRID Blog: http://www.barbanddave.net SPK# 90761 FMCA #F337834 Link to comment Share on other sites More sharing options...
Darryl&Rita Posted January 28, 2021 Author Report Share Posted January 28, 2021 Last week, it was at $50 when I started breakfast, and $80 by the time I was done. Finished the day over $100. I bought $5000 at $32/share, and am playing on house money after cashing my $5000 out at $68. I've been back in and out a couple times along the way, with lesser amounts of my money. A lot of this appears to be a grudge settlement against the Wall Street crowd, and is terrifying the office crowd. There's no way GME should be as high as it is, but by pushing against the short, the pressure of the crowd is being felt. I'm just enjoying the ride, now. Quote I have been wrong before, I'll probably be wrong again. 2000 Kenworth T 2000 w/N-14 and 10 speed Gen1 Autoshift, deck built by Star Fabrication 2006 smart fourtwo cdi cabriolet 2007 32.5' Fleetwood QuantumPlease e-mail us here. Link to comment Share on other sites More sharing options...
Darryl&Rita Posted January 28, 2021 Author Report Share Posted January 28, 2021 7 hours ago, Barbaraok said: The ones who started it have already gotten out. It is the little investor that doesn't really pay attention to what is happening. The great thing about this whole mess? Worse case scenario, an investor will only lose a maximum of 100% of their investment. The shorts have the opportunity to lose multiples of their money. Hold long, and the rewards can be huge. If you ignore your investments, you do so at your own peril. Quote I have been wrong before, I'll probably be wrong again. 2000 Kenworth T 2000 w/N-14 and 10 speed Gen1 Autoshift, deck built by Star Fabrication 2006 smart fourtwo cdi cabriolet 2007 32.5' Fleetwood QuantumPlease e-mail us here. Link to comment Share on other sites More sharing options...
RV_ Posted January 30, 2021 Report Share Posted January 30, 2021 Darryl, I am long never short. I have read some of the horror stories of shorts and in Tesla watched them try to manipulate the stock but fail. Long I made out like a bandit once and when I cash it in again twice. I didn't like the IRA and 401 rules and did not want to have to take out monies and pay taxes on them just because of my age. I do expect Tesla to go over $1000 a share whenever they put the Cyber truck out and begin to move more into their energy division. Then once the semi comes out the next Tesla big thing will be the new roadster. Quote RV/Derekhttp://www.rvroadie.com Email on the bottom of my website page.Retired AF 1971-1998 When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius “Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire Link to comment Share on other sites More sharing options...
Darryl&Rita Posted January 30, 2021 Author Report Share Posted January 30, 2021 Don't worry, RV. I took a lesson from you, and am playing with house money. This is a zany situation, so long here is looking like next Friday, maybe mid-week following. All depends on what Washington decides to do with underwater hedge funds. It's even dragging the S&P into the mix, so I suspect they'll act sooner than later. Right now, with actual money pulled out, and paper money, I'm close to $100k up. Real money up $22k over initial purchase. What a ride! I just think of it as my personal stimulus check. Quote I have been wrong before, I'll probably be wrong again. 2000 Kenworth T 2000 w/N-14 and 10 speed Gen1 Autoshift, deck built by Star Fabrication 2006 smart fourtwo cdi cabriolet 2007 32.5' Fleetwood QuantumPlease e-mail us here. Link to comment Share on other sites More sharing options...
Barbaraok Posted January 30, 2021 Report Share Posted January 30, 2021 2 hours ago, RV_ said: I do expect Tesla to go over $1000 a share whenever they put the Cyber truck out and begin to move more into their energy division. Then once the semi comes out the next Tesla big thing will be the new roadster. When do you think the stock will split? Apple has had 5 splits since '87. Quote Barb & Dave O'Keeffe 2002 Alpine 36 MDDS (Figment II), 2018 Ford C-Max HYBRID Blog: http://www.barbanddave.net SPK# 90761 FMCA #F337834 Link to comment Share on other sites More sharing options...
Twotoes Posted January 31, 2021 Report Share Posted January 31, 2021 I invested in toilet paper. It split as soon as I used it. Turned out to be a shitty investment, lol lol lol. Quote 2015 Itasca Ellipse 42QD 2017 Jeep Wrangler Unlimited Rubicon Hard Rock Edition 2021 Harley Street Glide Special Fulltimer Link to comment Share on other sites More sharing options...
RV_ Posted February 7, 2021 Report Share Posted February 7, 2021 (edited) On 1/29/2021 at 9:13 PM, Barbaraok said: When do you think the stock will split? Apple has had 5 splits since '87. Barb, Tesla just Split 5 for 1 Aug 28, 2020 when it was over $2000.00 a share. I put in my buy order for $350 and got 285 shares 31 Aug, three days after the split that have almost tripled since. Edited February 7, 2021 by RV_ Quote RV/Derekhttp://www.rvroadie.com Email on the bottom of my website page.Retired AF 1971-1998 When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius “Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire Link to comment Share on other sites More sharing options...
RV_ Posted February 7, 2021 Report Share Posted February 7, 2021 On 1/29/2021 at 9:11 PM, Darryl&Rita said: Don't worry, RV. I took a lesson from you, and am playing with house money. This is a zany situation, so long here is looking like next Friday, maybe mid-week following. All depends on what Washington decides to do with underwater hedge funds. It's even dragging the S&P into the mix, so I suspect they'll act sooner than later. Right now, with actual money pulled out, and paper money, I'm close to $100k up. Real money up $22k over initial purchase. What a ride! I just think of it as my personal stimulus check. Darryl, Smitty way back in 2010 taught me to take my capital off the table and some basics. Tesla was my first individual stock buy. We were funds before that, mixed with our other investments. Yep, I'm up half again that much were I to sell. Tesla has so much going on this year and the next two, and with its factory growth and production they won't be long for production numbers like the ICE age manufacturers. The China factory is making Model 3s and Model Ys. The truck factory in Texas is soon the be producing trucks, the Berlin factory is still under construction, and the newest compact Model 2 for $25k is rumored to come out this year too! Tesla is the world leader in BEVs and China looks to be the largest market for BEVs. Even GM is sharing in a tiny Chinese BEV for 5400.00 $US! I reviewd its specs over in the other thread. It's happening. Quote RV/Derekhttp://www.rvroadie.com Email on the bottom of my website page.Retired AF 1971-1998 When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius “Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire Link to comment Share on other sites More sharing options...
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