WallStreetBets vs WallStreet: It's not about the money anymore

Re:WallStreetBets vs WallStreet: It's not about the money an... by snowwrestler on Thursday January 28, 2021 @10:18AM (#25943059)

Right now it looks like retail investors stuck it to Wall Street and made some money because GME is still over $400/share this morning. Everyone holding GME can look at their app and feel great.

But not everyone is going to be able to sell it at $400... or even $100 in some cases. It will be interesting to see how everyone feels after the sell off.

[ Parent | on HN ]

Re:WallStreetBets vs WallStreet: It's not about the money an... by mikestew on Thursday January 28, 2021 @11:15AM (#25944178)

GME is still over $400/share this morning

Guess what's changed in the 56 minutes since you posted this?

GME: $265.00

Though I think it had dipped into around $380 by the time of parent post, and heading down. But someone bought at $430 this morning.

[ Parent | on HN ]

Re:WallStreetBets vs WallStreet: It's not about the money an... by snowwrestler on Thursday January 28, 2021 @12:12PM (#25945036)

Is this a surprise? Tons of people wanted to buy GME this morning and were mad that Robinhood was preventing them.

We won’t know for days who makes money and who doesn’t. It certainly won’t be everyone.

[ Parent | on HN ]

Re:WallStreetBets vs WallStreet: It's not about the money an... by jrs235 on Friday January 29, 2021 @08:53AM (#25957210)

For a lot of people buying GME, it's not about making money. It's about sticking it to hedgers that they feel didn't just expect GameStop to file bankruptcy but hoped for it.

[ Parent | on HN ]

Re:WallStreetBets vs WallStreet: It's not about the money an... by Finnucane on Thursday January 28, 2021 @10:22AM (#25943151)

Sure, once the squeeze is over they'll be holding expensive stock in a fundamentally near-worthless company. But then, they're probably Bitcoin believers too.

[ Parent | on HN ]

Re:WallStreetBets vs WallStreet: It's not about the money an... by WorldMaker on Thursday January 28, 2021 @11:03AM (#25943963)

I think the argument remains that GME is not fundamentally a near-worthless company and some of these investors are probably right that it was hugely undervalued by all the funds shorting it (maybe not to the tune of $400 a share, but many of those investors have seemed to have been whales, not average joes). Retail is down in the pandemic, but it is not out. My opinions that GME is the biggest pawn shop operation in the US makes me look down on the shops from a high horse that I don't currently feel a need in my personal life for pawn shops, but America as whole will always need pawn shops.

[ Parent | on HN ]