I invested in GameStop.....

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spark240spark240 Frets: 2073
I assume some of you must have heard about the Gamestop Reddit scenario.....basically a ton of small investors bought heavily into a failing company to stop the Hedge funds cashing in if it go’s under....shorting the stock.

This action kept the company afloat and forced the share price to a galactic level.....well things settled and now its back on....so I though I’d give a few hundred and see what happened.

The stock increased by 130% at close yesterday, ..dropped to 80% at the moment....projection of between 500% - 800% in the coming fays / weeks....its wild but interesting !




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  • droflufdrofluf Frets: 3612
    Who's projecting 500-800% growth? Broker research, activists wanting to stick one to the hedge funds or reddit investors who got in late and are trying to ramp the price back to somewhere close to where they came in?
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  • RandallFlaggRandallFlagg Frets: 13929
    Hark at old diamond hands there with his GME tendies


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  • spark240spark240 Frets: 2073
    drofluf said:
    Who's projecting 500-800% growth? Broker research, activists wanting to stick one to the hedge funds or reddit investors who got in late and are trying to ramp the price back to somewhere close to where they came in?
    Well...it just the figures projected...I guess  based on where they think it might get to before the Hedge funds are forced to buy back ...or pay interest on the loans...its all very speculative I agree...Im just in to see what happens ;-)


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  • RaymondLinRaymondLin Frets: 11805
    hasn't this boat sailed?  The Reddit forum has been pumping this before and then they dumped it and it fell.  I guess it could go up a bit more now with the US passing the Stimulus bill and their vaccination program getting on the way.  but 800%?  

    But then what do I know? I am trying to swing trade in crypto at the moment lol
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  • droflufdrofluf Frets: 3612
    I’m comfortable though as I’ve used tulip futures to hedge my exposure. The market can only go one way*

    * do your own research, markets can go down as well as up, if in doubt consult a qualified financial advisor rather a bunch of random guitar fanatics on the internet. ;)
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  • TheMarlinTheMarlin Frets: 7744
    GameStop are not failing. They have large cash reserves, and can pay off all debt the company has (if it needed to) without risking business cashflow. 
    They have been repeated targeted by hedge funds who would cash out well if the could get them to fail, but they’re still doing just fine. 
    It’s business model that’s doesn’t have much of a future though, retail is in for a very tough time, and games will go digital - they only have a few years of physical (and used market) games , and then what?  I can’t see it continuing on games merchandise alone...
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  • RaymondLinRaymondLin Frets: 11805
    I agree that as a long term investment, Gamestop is doomed as digital is taking over.  I think the last report I saw  which was over a year ago, digital accounted more than 50% of sales.

    As a short term money grab...it's possible to take the profit and run.  It will bounce back when things reopen but they will need to shift their position to stay afloat, perhaps more into hardware resaler, more like Best Buy and merch, perhaps market the vintage gaming side like Super Potatoe.
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  • spark240spark240 Frets: 2073
    hasn't this boat sailed?  The Reddit forum has been pumping this before and then they dumped it and it fell.  I guess it could go up a bit more now with the US passing the Stimulus bill and their vaccination program getting on the way.  but 800%?  

    But then what do I know? I am trying to swing trade in crypto at the moment lol
    Yeah it sort of had a blast....then a slight resurgence of interest, so on a whim I dropped a few quid for the ride...the sensible thing would be to bail now with double money...but there might still be some excitement so Im gonna hang in there ;-)  ...see if I can finance that illusive PRS semi hollow Special !   


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  • chillidoggychillidoggy Frets: 17136
    I'm curious. If Gamestop has enough cash to pay off all its debts, then why doesn't it do so?


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  • droflufdrofluf Frets: 3612
    I'm curious. If Gamestop has enough cash to pay off all its debts, then why doesn't it do so?
    Don't know their reasons but they could be using the debt to meet day to day cashflow or to fund growth.

    But the Gamestop story isn't about Gamestop or its long term viability but about a bunch of ordinary citizens taking on capitalism using the hedge funds. Gamestop was identified as being targeted by a group of hedge funds and the Reddit investors piled in to attack those hedge funds. If it hadn't been Gamestop it would have been another company's shares.
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  • I’ve managed to buy high and sell low twice, PM me for tips guys.
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  • DefaultMDefaultM Frets: 7271
    edited March 2021
    Just seems like a pump and dump at this point. People going on about how it will go to 100k a share. Be nice if it did as I've got a share but... Yeah.

    I've written mine off. I'm not gonna sell it unless it squeezes, and we've already seen that as soon as the price rises they close the market and have a congressional hearing haha.
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  • drofluf said:
    I'm curious. If Gamestop has enough cash to pay off all its debts, then why doesn't it do so?
    Don't know their reasons but they could be using the debt to meet day to day cashflow or to fund growth.

    But the Gamestop story isn't about Gamestop or its long term viability but about a bunch of ordinary citizens taking on capitalism using the hedge funds. Gamestop was identified as being targeted by a group of hedge funds and the Reddit investors piled in to attack those hedge funds. If it hadn't been Gamestop it would have been another company's shares.
    It's about a bunch of ordinary citizens engaging in capitalism.

    Bye!

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  • spark240spark240 Frets: 2073
    DefaultM said:
    Just seems like a pump and dump at this point. People going on about how it will go to 100k a share. Be nice if it did as I've got a share but... Yeah.

    I've written mine off. I'm not gonna sell it unless it squeezes, and we've already seen that as soon as the price rises they close the market and have a congressional hearing haha.
    Word is that squeeze will come daily now...trying to trigger the stop losses and get folks to bail...problem is most of the investors are low value, so they are prepared to stick it out ....  lose the lot or win big ;-)


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  • RaymondLinRaymondLin Frets: 11805
    edited March 2021
    spark240 said:
    hasn't this boat sailed?  The Reddit forum has been pumping this before and then they dumped it and it fell.  I guess it could go up a bit more now with the US passing the Stimulus bill and their vaccination program getting on the way.  but 800%?  

    But then what do I know? I am trying to swing trade in crypto at the moment lol
    Yeah it sort of had a blast....then a slight resurgence of interest, so on a whim I dropped a few quid for the ride...the sensible thing would be to bail now with double money...but there might still be some excitement so Im gonna hang in there ;-)  ...see if I can finance that illusive PRS semi hollow Special !   
    More fun doing Crypto, you don't even need much...between March 7th to today, this went from 0.06632 to 0.5 currently.  Stick £50 in and it would be worth £500.  10x. (if you can repeat that a few times....the numbers will be crazy in a short space amount of time from starting with peanuts) But...it's literally gambling and subject to Capital gains above £12k profit IIRC.


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  • joeyowenjoeyowen Frets: 4025
    @RaymondLin ;  if you don't mine me asking, what do you use for buying and selling?  Options on revolut are basic really (which I know is a good thing).  But I fancy some sport, as I spend 100% of my working day in front of a PC nowadays, it might keep me busy during down times.
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  • RaymondLinRaymondLin Frets: 11805
    edited March 2021
    joeyowen said:
    @RaymondLin ;;;;  if you don't mine me asking, what do you use for buying and selling?  Options on revolut are basic really (which I know is a good thing).  But I fancy some sport, as I spend 100% of my working day in front of a PC nowadays, it might keep me busy during down times.
    I use Binance.  It has an App and desktop app.  It's pretty good.  It tracks everything, stats for everything,  it shows your current profit, daily profit and loss etc.  The Phone app has a Lite mode built in, it's good for keeping track of the numbers if you don't want to be overwhelmed with other stuff.

    Minimum buy per order is £15.  I don't know if i am doing it right or wrong...there are lots of different platforms but i am using USDT mostly, as opposed to BUSD.  They all seem to go the same direction between them with the same prices.  

    p.s. that Cyrpto went to 0.6 now, gained 20% between posts!

    Honestly, look at it from the perspective of having some fun, don't put in what you can't afford to lose.  That's how i see it.

    Disclaimer - I am not a financial advisor, and this is not financial advice, always do your own research.
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  • joeyowenjoeyowen Frets: 4025

    Honestly, look at it from the perspective of having some fun, don't put in what you can't afford to lose.  That's how i see it.
    100% It's just fun sport for me, it will be small numbers Thanks dude!
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  • I'm on Binance too. I'm £200 in profit since end of Jan. I hold BTC, ETH, REEF, EASY, UNI, UTK, MATIC, and I'll be getting some REN soon I think.

    TO THE MOOOOOOOOONNNNNNNNNN

    Bye!

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  • SimonhSimonh Frets: 1358
    someone I know is predicting a big comeback for ripple (XRP) and also heavily investing in Enjin.

    he is very rich though and can afford to lose if he gets it wrong, I have to be a little more circumspect!
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