Yep. Gamestop is probably doing the 5 million placement at $255 they said at the AGM. That puts over $1b in their bank account, without affecting the short positions. It has actually raised their targets with some investment houses, some with new $325 targets for GME
I have no skin in the game as I wasn't able to get any shares before it started getting wildly out of control, but as long as they're still turning the screws on the shorters, good.
I jumped in pretty late and called it quits early this morning. Managed to clear $1200 free dollars and keep one share for shits and giggles. Part of me was tempted to let it ride and play the 'are these covered' game... but after watching my gains start disappearing I decided it was ultimately nicer to just walk away winning something.
2.5 shares currently. I’ll do another half share if it goes below $200 again before it blows up. Just playing that waiting game. They have to cover at some point, and I’m betting I’m more stubborn than they are. Going 2-3x that (minor) investment won’t mean anything to me. I either get a big payday, or cost the shorts a good bit of money in the process. Hopefully both. I know I’m doing one though. It’s small by any measure, but the middle finger still feels good, and the, I think, high at this point, potential for it to have a great ROI is a very motivating carrot.
I have to say that I've been pretty focused on GME for a while now... learning all I can about DTCC, etc. I've managed to turn $10k into 6 figures, take my $10k out, then put another $30k back in, and am now sitting at about 1100 shares. I met with a new financial advisor last week, and it was pretty fucking interesting. My portfolio is 90% GME, and he scoffed... then I told him my background in video games, online banking, and let him know the current state of GME, their new hires (solid peeps poached from Amazon, etc), and their NFT plans. I don't think he's dismissing that shit as a stupid meme stock any more. In my current job, for the world's most popular game development software, I've got a proposal that I've put together floating around the VP levels for buy-in that basically creates a whole NFT/digital asset exchange and management system for online games. I have to think that this is part of what GME has in mind for the near future. Bring on the competition. And I'm looking at buying a shit-ton more shares when the casino opens tomorrow morning. If you're genuinely interested in this stuff, I have to say that the /r/superstonk sub is a fantastic resource. So much better that WSB. There is some solid fucking DD going on in there. There's also some batshit crazy fucktards too, but use some common sense, and I'm sure you can filter the shit out.
Probably a dumb question, but how will you know when to sell? What is the true peak or are you in it for the long haul?
And you know the shit I was doing in Tokyo for the last 3 years? It's now the basis for this: https://finance.yahoo.com/news/japan-blockchain-based-stock-exchange-151748234.html
Fuck, I don't know... I have been putting together a bit of a complex sell plan... when it hits a number, I sell half... that should be "retirement cash" levels that covers my inputs, and gives me solid life-changing cash. Knock on wood. After that? Who knows... I can see me selling off bits and pieces here and there, and making it up as I go. I can see me keeping a couple hundred shares for the long term... just to see where it goes. If it gets stupid high, I have no problem selling and not worrying if it goes higher. I also plan on buying back in for a long term when it settles down.
One of the really interesting things to happen will be GME being added to the Russel 1000 index. That will cause some huge buy pressure on GME.
During a planning and forecast meeting I was in with one of my clients this week, we had a call with the marketing advisory firm (my name- I don't know what theyre called), we spent 30 minutes listening to the final 10 names of the company, and the paired NFT name to go with it. My client is participating in a new patented process, so he wants to brand it AND the NFT they'll be hawking. Part of the discussion centered around the wild West unknowns about regulations for NFTs. Crazy times.
The really interesting thing is if GME delivered an NFT-based dividend... so each dividend was an NFT tied to a real stock. That would totally blow up the whole synthetic short situation, as they can't just spend money to fake the dividend. As it was, the proxy voting of GME was eye-opening in and of itself. They filed their 8k, and now the SEC is investigating. Odds are the proxy voting showed that there was a huge synthetic short position based on the AGM voting.
NFT's have a place... they aren't just some tech fad to sell digital art ownership for stupid money. It's a legit means of proving ownership of something digital... like a share, or an in-game digital asset, or a digital asset like a piece of software. Or of a share. There's a reason https://nft.gamestop.com is a big deal.
Absolutely. It's more fascinating to me than the Space race or current tech advances, because of the unknowns and the dismissiveness of the old guard.
Yep... it's quite the technical Wild West right now... much more appealing to me than anything cryptocurrency.
I did some day trading and profited enough that I've covered the entire position that I still have, which isn't enough money that I would want to shoot myself if it disappeared. So I figure, worst case is that my "free" (it's not really free because I could take my winnings now) lottery ticket crashes before I can get out, and the whole thing was just a very interesting exercise in better understanding the markets, along with some entertainment. The current cost basis for the stocks I own is just over $100.
Well, this is very interesting: https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2021/DTC/SR-DTC-2021-005.pdf SR-DTC-2021-005 is a long-awaited rule from that restricts naked shorts. It looks like it's finally been listed. Reddit discussion here: https://www.reddit.com/r/Superstonk...umors_of_srdtc2021005_are_true_straight_from/ The best part is that they've attached the comments to the PDF... and there are a shit-ton of Reddit Apes commenting lol
Basically, from what I can tell, it is meant to stop shorts from being covered with "pledged" (synthetic) shares. Wow... I wonder what the repercussions from this will be?