I still can't believe the dude parlayed a $55k investment into a $200m position in a single company in 4 years.
That's absolutely bonkers. I managed to make -83% on my GME. At today's prices, I'm still ahead on that trade then if I had held.
I was thinking about a similar mentality this weekend -- the few, crazy cool things that have happened to me, have come from sticking my nose where it didn't belong and saying fuck it. My wife, way out of my league, asked for her number at 19 and next week is our 14 year anniversary. Signed up for two marathons having never ran a sanctioned race further than a 5k (and never ran a training run more than 8 miles). Recently became a sponsored athlete after filling out an application with my favorite running apparel brand and doing so in a painfully blunt manner. DFV basically did the same exact thing. On a massive fucking scale. He had a foundation of facts, then stuck his nose where other people felt it didn't belong and was like "fuck it, what's the worst that could happen?" I'm gonna double my $gme position today.
A few weeks ago when it was all over the place I day traded to a half decent little profit while finishing with my same position. Overall I'm way up, long term. For a while there I was looking very down, but you don't lose until you close your position, so I just held. So far it seems to be paying off, and I guess we'll see where it goes.
You may want to wait until the shorts hammer the price way down from where it's at right now... it's up over 75% in premarket trading.
yeah that goes without saying. Plus I haven't messed with the compushare interface so I gotta figure out how to buy on there anyway. Thus far I can only find out how to "invest" a certain flat amount, rather than shares at a certain price. Maybe that's the way it is? I don't know. Never done this before. It was more "set it and forget it" for a long time.
if the dude who had to re-teach himself how to walk after surviving a brain tumor is now a marathon runner backed by a global running brand, then surely it's not impossible for this thing to squeeze enough for me to get my wife a small cabin in a state where it snows so she can go skiing
Bought $1k through CS yesterday. I know it'll take a few days to transfer so I'm not sure the exact price, but I don't wanna be five years out and kicking myself for not at least doing something right now. We have a bunch of trips coming up and have started saving for the kiddos' college so that's about the limit of what I could spend -- I was actually only gonna do $500 but I told my wife and she said to double it. At the end of the day, for me at least, I just see this as a morality play. Rich assholes who expect to get bailed out by the government, get more rich by bankrupting good companies and putting their employees out of work. Personally, where I work, we fought HARD during covid to keep every single on of our employees with a paycheck. We cut back on the upper levels (including personally). They took more. So fuck them. Making money off this is secondary, and something I see as only a goal once the first bridge has been crossed.
Ha. GME up 50% today, and DFV has scheduled a live stream for 10am tomorrow. How awesome would it be if he exercised his calls on a live stream? lol
I don't think he has the cash to exercise the calls. He could sell them. Edit: He's transferred enough money into the account to do so. I wonder where that came from.
The reality is, for me, I don't have enough cash in there to worry about. At this point I'm just holding a hundred shares because, at worst this whole thing falls off a cliff and I learned some stuff, made some money day trading, and amused myself. At best we really find out what really happens when enough short sales are called to the carpet and retail investors refuse to sell their stocks.
I didn't see... Does anyone have a quick explainer on what he did to accumulate such a position? The stock value hasn't appreciated enough to result in that position since the last time he posted, when he had a basically ~$35MM all stock position. Is he just out there trading options every day?
I don't think people know yet. He made his original $55k investment and parlayed it into that $35m, but then the feds crawled up his ass and he went dark. I have to think he was in his newly built house still digging into investments and working his ass off making that $35m grow. And grow. And grow.
I was right the first time. He doesn't have enough money to exercise all the options as that would be 12 million shares @ $20.00 each. He will have to sell them.