The FOMO element is alarmingly powerful for some folks, and in my experience, when it starts kicking in, it's probably too late to jump on something and realize any gains before a harsh drop (which will cause those same folks to often panic and drop out with a loss, licking wounds). I have a watchlist a mile long filled with "thank God I didn't jump in" and "shit, I didn't jump in" tickers. For the ones I did go after, I read up on them a bit and didn't put any money in that I wouldn't be ok losing. For me Reddit, Seeking Alpha, and trading view have been helpful to understand more about a company and potential growth factors. WallStreetBets is a funny place to go through, but I've made more money shorting the stocks discussed there than anything else (outside of GME).
Yeah. I’ve been lucky enough to turn $10k into 400 GME shares so far. We’ll see if this Gamma Squeeze is really a thing. over the next couple of weeks.
Yeah, this thing definitely feels like it has a shelf life that's about to expire soon. I'm still in and green on what I've got, but I know where my exit is up or down. I'm not going to be in the $100k/share or bust crowd for sure. I don't know how many parallel realities you'd have to sift through to find that one actually happening.
The most fun I've had recently was with SNDL. There was a point a month or so ago where cannabis was the number two topic after GME/AMC, and fundamentals were completely tossed out the window to get in on these. SNDL was a cheap entry point at about $1.20 and people were talking it up like crazy. The whole thing didn't make sense because the hype was around potential US legalization, but SNDL is a Canadian company. Despite that, it started to climb and I tossed in a couple hundred bucks to see what would happen at around the $1.50 mark, figuring if it got to $2, that'd be cool. Fast forward a couple weeks when I sold at $4. At this point, there were a bunch of people getting in late talking about how it was going to $10, but I got the sense it was over. I took half my profits and shorted it, and proceeded to watch it fall to $1.40 before covering. It's still trading at $1.30 today. Pretty nice (and lucky) run. Dunno when I'll be able to replicate that again.
They are delusional, and seem to think that there are no bounds on the amount of money in the system. I can see it hitting 400 or so again on a big rush (especially with the whales that are playing in the pool now), but when the whales decide they're out, then it ALL comes down and the diamond hand retards are going to be broke.... and the stock will probably settle back down to $40-$50 or so.
AABB dropped some more, so I sold off my CATV to buy another 1K shares @ .31. Nothing about the company has changed, people are just panic selling and I'm not going to let a bargain go to waste. I've averaged up now to .25, and if it does go down again....fuck it, I've been in the red before. I see absolutely no reason this isn't at least a $1 company.
$GME earnings report Since my brain tumor almost completely wiped out my math abilities, and even more relevant to that long document, I have massive unmedicated ADHD, of course I didn't read it. And since the price of $GME has no relation to the value of the company anyway, I'm not sure it really matters. Can anyone chime in with a tl;dr version though?
I'm not reading it. I'm asking YOU to for me. I don't even own a full share of gme. I just wanna find out which direction the ship is pointed so I can start to decipher the WSB shit. They say it's gonna moon no matter what happens, and I don't currently know if they're justified or not.
HINT: What's going on with the stock price has absolutely nothing to do with the company's worth or their financials.
yeah that’s what I meant by my last sentence. Sorry, Covid brain fog is real heavy right now so I gotta think twice as hard about what I’m trying to say. It sucks. Like I’m trying to mentally run underwater. Anyway.... I get that it’s not supposed to be that high at all. Probably closer to like $15 if that imo. I understand that there were people shorting it without buying the underlying stock, and then basically the WSB idiots started buying up the stock, causing the price to rise and fucking the shorts in the process. But like... does the earnings report do anything to it? I’m thinking since people aren’t using a normal calculus with the stock price, you can’t apply the normal dip after earnings expectancy to this either right?
It could show billions in gains or losses. Neither matter. GME exists in an alternative sphere completely divorced from physical reality.
okay that’s what I thought. So they’re gonna just continue to be idiots and it won’t be a blip on the radar then