lol This is pretty entertaining to watch! I didnt think they could get GME going like this, but its a sign of the times when you have massive communities on social media pooling their money.
I expected a move into the 50's, but that pop into $76 was insane! Here comes the tail end, now to see if the pigs are greedy
Which is completely ironic because GME is a dying business and one that has been for a long time, while AMC is now worth like 10% of what it was just 4 years ago and should be recovering as the country starts inching back to normalcy. Won't ever make it back to highs, but it should recover a bit.
Frothy markets. Just toss your money somewhere with momo, hold for a few days and you in the green. Rinse and repeat, show everybody your profits because you are a trading god.
The interesting discussion heading into next week is if or what the SEC can even do anything. While I can't think of any action they can slap on immediately, I am 100% certain they will do something to prevent these kind of squeezes from becoming common occurrence.
If you check me out I was posting on page 6 of this thread. I was in about 1300 shares cost averaged around $11. Fully exited my position around an average of $30. Held through lows of $3s, was quite a ride over the past 2 years. The negative 5 digit to plus 5 digit swing was quite an experience. I've always believed in the company but obviously this new valuation is insane. However, volume on Friday tells me there is still more meat on the bone and I may hop in and out today to play the swing.
To each his own, but I never understood why someone would hold a losing position so far down. To me its easier to cut my loss at a small percent and wait until I find a solid re-entry. Just my opinion, and the way I work.
Modern day Cramer's> remember when we wished we could be on his friends list and preload, then wait for his broadcast? This is just a modern version. LOL.
