GameStop Stock Breaks Records as Reddit Traders War with Short Sellers

Re:GameStop Stock Breaks Records as Reddit Traders War with ... by grassgreener on Friday January 22, 2021 @11:01PM (#25879518)

I think it’s a legit question. The answer is: yes. Short GME and be rich in a week. The other answer is: no. Buy call GME and be rich in a week. The whole market is irrational in the short term, maybe it’s luck, serendipity or genius. You’ll find the same pattern at your local casino. Put less than 5% of your net worth on this bs if you don’t want to FOMO. Otherwise just disregard, it’s 100% gambling.

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Re:GameStop Stock Breaks Records as Reddit Traders War with ... by billylindeman on Saturday January 23, 2021 @12:34AM (#25879954)

I’ve been following this situation and it’s mostly due to short interest exceeding all available shares ( peaked at 140% afaik). Institutions were selling naked shorts and will be forced to cover. Has nothing to do with the business it’s supply / demand of shares outstanding driving this as far as I understand it

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Re:GameStop Stock Breaks Records as Reddit Traders War with ... by 1996 on Saturday January 23, 2021 @12:39AM (#25879976)

> Institutions were selling naked shorts and will be forced to cover

Serves them well!

Play stupid games, ...

I smile inside thinking WSB has enough power to cause a gamma squeeze and punish institutions speculating against a company gamers love!

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Re:GameStop Stock Breaks Records as Reddit Traders War with ... by bmiller2 on Saturday January 23, 2021 @12:51AM (#25880025)

No gamer loves GameStop, where’d you get that idea? They are known for buying back your 60$ blockbuster game after a month for $3, and reselling for $55.

They should be dead in the water, and the shorts will eventually be correct, if they can’t pivot to a digital presence (which they can’t, because why would anyone go outside of the native platform stores?)

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Re:GameStop Stock Breaks Records as Reddit Traders War with ... by j2bax on Sunday January 24, 2021 @09:39AM (#25892348)

Ryan Cohen chewy.com cofounder has gotten involved and bought a 10% stake in the company and intends to amp up their online footprint selling a wide range of merchandise. There is more at play here than an epic WSB super troll.

https://www.businessinsider.com/gamestop-stock-price-chewy-i...

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Re:GameStop Stock Breaks Records as Reddit Traders War with ... by oarsinsync on Saturday January 23, 2021 @02:41AM (#25880464)

> if they can’t pivot to a digital presence (which they can’t, because why would anyone go outside of the native platform stores?)

Price.

It’s often cheaper to buy a “CDKey” from a third party site and stick it into the native platform store than to buy direct.

It definitely adds friction though, so it’s unlikely to become the primary method for most.

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Re:GameStop Stock Breaks Records as Reddit Traders War with ... by cwhiz on Saturday January 23, 2021 @08:55AM (#25882221)

It’s not THAT bad. I don’t love GS, but I would be sad and disappointed if the one near me closed. It’s a convenient place to buy used games.

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Re:GameStop Stock Breaks Records as Reddit Traders War with ... by sumedh on Saturday January 23, 2021 @05:08AM (#25881156)

> They are known for buying back your 60$ blockbuster game after a month for $3, and reselling for $55.

Why would anyone sell it for $3?

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Re:GameStop Stock Breaks Records as Reddit Traders War with ... by bobthepanda on Saturday January 23, 2021 @12:23PM (#25884187)

Ease of access to funds and buyers. GS takes all the risk of having to find an ultimate end buyer. If that buyer has issues they take it up with GS not you. And GS can give you that money right now in the store so you can buy something else at the store at that moment.

Plus a lot of people trading in games were minors, who don’t exactly have easy legal access to say online means of selling.

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Re:GameStop Stock Breaks Records as Reddit Traders War with ... by sumedh on Monday January 25, 2021 @06:06AM (#25901881)

So GS is providing a valuable service, not sure what the problem is. If you dont like GS you can always sell and buy games on facebook marketplace and other sites.

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Re:GameStop Stock Breaks Records as Reddit Traders War with ... by austhrow743 on Saturday January 23, 2021 @05:34AM (#25881265)

If they can get away with that sort of margin for a business with basically no moat then people must love them.

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Re:GameStop Stock Breaks Records as Reddit Traders War with ... by 3327 on Saturday January 23, 2021 @01:47AM (#25880237)

Stonks go up. Shitron will rot under the WSB banner.

This is the way.

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