I was going to say its probably illegal to pump a stock in that way, but then I remembered pets.com did it.
Well... I just found this thread now Good luck to those who have been following my Technical Analyst since last Saturday at 11:26 pm https://stockaholics.net/threads/te...es-commodities-and-indices.11347/#post-141817 It wasn't GameStop, but Game Over
The worst part is that the crowds are all screaming at each other to hold, as if holding is the solution here. So many new arrivals getting wiped out in this drop. GME may have some interesting long term prospects, but not in the triple digits.
Oh yeah for sure. And all the thousands of new arrivals in the market thinking that $1000 was just around the corner are now confused. I was still reading posts yesterday saying how the squeeze is still going to happen... morons.
Went back to $63.77, the prior ATH from 2007. If this can close above $75 then bagholders can claw some losses back tomorrow.
The geniuses are the ones who convinced the morons to go along with it. Some made several million. Unfortunately for me I have a conscience and don't go around duping the less knowledgeable. I'll sign this posting as "poor but happy"
GME was very much an accident in the way it happened. Its the first case of a stock going viral like meme, everything just aligned perfectly. It was never the intention or the goal of the original GME holders to see a squeeze this size, but they did want to get some squeeze action there. The fact that it took off like it did was a fluke.
It served its purpose though, got worldwide attention and managed to catch some very big players off guard. They laughed and shrugged it off, but they took some big hits and had a few crying about life being unfair on national television. That is priceless. Here is a another neat article to ponder strength in numbers. Shows how desperate they really are.
Im also watching for that bounce. I thought that $60 would be it, but it looks like there is going to be a deeper correction here.
I dipped my toe in at 61 today. Just 10 shares, but yeah. *Going to have "DON'T TRY TO CATCH A FALLING KNIFE, SYYNIK!"* tattooed on my forehead. Out at 52, going to watch to see if it hits and holds the singles (in about 3 weeks, I'm guessing)
Slow drip lower all day. Maybe tomorrow morning we get that flush to the downside from people who do not want to be long over the weekend.
Is there any reason GME did not do a secondary offering when the stock was at $300? Whats the process here? How long does it take between the time the board gives a go-ahead and its actually executed?
what is the short interest? i heard the short interest is down by over half... and GME is falling to wayside. will there ever be a rally?
If a company has 100 shares outstanding, and I go short 50 shares, the short interest is 50% The entire reason for the run from $12 to $400 was the short squeeze, that part is done. Yes there will be rally once the stock has sold off enough and bounces. But it is not going to rally to those highs.
