Gamestop stock being pumped to the moon by Redditors

[Kforcer]

You guys familiar with this? Gamestop, the video game store chain, has had it's stock pumped up to the moon by an influx of people, largely hailing from the Reddit group Wall Street Bets, buying up stock like there's no tomorrow and thus overwhelming the investors who've been selling the stock based on it's presumably waning relevance in the age of Amazon, streaming, online orders, etc. Elon Musk ended up giving the Redditors a "shout out" on his Twitter feed. It's up to 147 or so bucks and I guess it was way, way lower just a little bit ago.

Kind of an interesting battle playing out right now, between traditional investors and the Reddit crowd that's trying to pump up Gamestock.

 

[raty tat tat]

You guys familiar with this? Gamestop, the video game store chain, has had it's stock pumped up to the moon by an influx of people, largely hailing from the Reddit group Wall Street Bets, buying up stock like there's no tomorrow and thus overwhelming the investors who've been selling the stock based on it's presumably waning relevance in the age of Amazon, streaming, online orders, etc. Elon Musk ended up giving the Redditors a "shout out" on his Twitter feed. It's up to 147 or so bucks and I guess it was way, way lower just a little bit ago.

Kind of an interesting battle playing out right now, between traditional investors and the Reddit crowd that's trying to pump up Gamestock.

I thought Game stop was on it's way out?

 

[HOLA]

Up to $217 actually, in the post market. It's an interesting story for sure.

 

[ToxicShocker]

These are the speculative bubbles that are supposed to be a warning

 

[TheOneAboveAll3]

I thought Game stop was on it's way out?

Its fundamentals dont add up to its valuation, its just pure manipulation. Redditors are pushing it up but there are much bigger players involved other than redditors. Watch how once it reaches its high it will come crashing down so fast. No one gives a damn about GameStop or even uses it much. Games are going digital permanent either by subscription or digital, gamestop is the next blockbuster. This is just manipulation just like the shit show company tesla.

 

[raty tat tat]

Its fundamentals dont dont add up to its valuation, its just pure manipulation. Redditors are pushing it up but there are much bigger players involved other than redditors. Watch how once it reaches its high it will come crashing down so fast. No one gives a damn about GameStop or even uses it much. Games are going digital permanent either by subscription or digital, gamestop is the next blockbuster. This is just manipulation just like the shit show company tesla.

Got it.

 

[TheOneAboveAll3]

Up to $217 actually, in the post market. It's an interesting story for sure.

From a of about $4 to now $217, what a joke. Almost as big of a joke as the Market being at ATH's even though our economy has been utter shit for almost 1 year and will likely be like this for another 1 year.

 

[Randlewand]

It's a bunch of memes and trolling to screw all of the people that were shorting Gamestop. It's going to crash, but its hilarious, and a bunch of speculators got royally fucked

 

[DaleBoca]

Its fundamentals dont dont add up to its valuation, its just pure manipulation. Redditors are pushing it up but there are much bigger players involved other than redditors. Watch how once it reaches its high it will come crashing down so fast. No one gives a damn about GameStop or even uses it much. Games are going digital permanent either by subscription or digital, gamestop is the next blockbuster. This is just manipulation just like the shit show company tesla.

I still buy physical copies of games. Whenever I buy the PS5, it will be the disc version.

 

[BisexualMMA]

Sounds like the most wicked awesome investment opportunity since Bre-X and Dutch tulip bulbs. Get in there now.

 

[TheOneAboveAll3]

Got it.

Also the reason why its mooning is cause it had an over 100% short float. So those shorts had to cover once it started mooning. Now its just ridiculous how high its gone in a few days.

 

[Kforcer]

Its fundamentals dont dont add up to its valuation, its just pure manipulation. Redditors are pushing it up but there are much bigger players involved other than redditors. Watch how once it reaches its high it will come crashing down so fast. No one gives a damn about GameStop or even uses it much. Games are going digital permanent either by subscription or digital, gamestop is the next blockbuster. This is just manipulation just like the shit show company tesla.

My understanding was that, before the Redditors deciding to go on a mad crusade to pump Gamestop up, Gamestop was actually holding pretty steady, in spite of being supposedly obsolete. Though of course, this current explosion in it's stock price is due entirely to the Wall Street Bets reddit crowd's relentless purchases of it's stock

 

[TheOneAboveAll3]

I still buy physical copies of games. Whenever I buy the PS5, it will be the disc version.

What are you 14?

 

[GSP_37]

Smells like pump & dump. I thought they were on the verge of bankruptcy.

 

[DaleBoca]

What are you 14?

No. I enjoy the disc copy.
You should’ve asked, what are you, 50? That would make more sense.

 

[Randlewand]

I feel like shorting stocks in general is a really destructive financial instrument that should be made illegal.

 

[Kforcer]

No. I enjoy the disc copy.
You should’ve asked, what are you, 50? That would make more sense.

Yeah, exactly.

 

[Kforcer]

I feel like shorting stocks in general is a really destructive financial instrument that should be made illegal.

I guess this is being done in defiance of stock shorters, like an act of symbolic rebellion against the people who have been seeking to do so with Gamestop stock.

 

[Rocco Siffredi]

Its fundamentals dont add up to its valuation, its just pure manipulation. Redditors are pushing it up but there are much bigger players involved other than redditors. Watch how once it reaches its high it will come crashing down so fast. No one gives a damn about GameStop or even uses it much. Games are going digital permanent either by subscription or digital, gamestop is the next blockbuster. This is just manipulation just like the shit show company tesla.

you told us to sell our gamestop stock months ago!!!!

 

[AGGAMEMNON66]

I feel like shorting stocks in general is a really destructive financial instrument that should be made illegal.

Social media is just now really really showing its powers and how it can be abused and manipulate things on so many different levels -from social, to economic..


I see a really interesting battle on the horizon in terms of regulations/policy etc


It touches so many different avenues too (in the US for example) you start getting into the 1st amendment from the social side (are corporations responsible for the opinions of individuals who use their platform) and so on..