The GameStop/Reddit thing is huge with the young folk
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How the hell is Gamestop still at $325?
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@lufins-dad said in The GameStop/Reddit thing is huge with the young folk:
How the hell is Gamestop still at $325?
The power of the mob who refuses to sell combined with a short squeeze. Your question is why I think this is an amazing phenomenon.
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@lufins-dad said in The GameStop/Reddit thing is huge with the young folk:
How the hell is Gamestop still at $325?
Greed.
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https://www.fool.com/investing/2021/01/31/the-worst-mistake-gamestop-investors-can-make-righ/
For a sense of scale, one single contract at $320 requires an investor to pony up $32,000 to buy the shares at expiration. At some point between market close on Friday Jan. 29 and market open on Monday Feb. 1, affected former GameStop options investors will wake up to find they are now GameStop shareholders. Not only are they now shareholders, but they are out tens of thousands or hundreds of thousands of dollars or more.
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@jon-nyc said in The GameStop/Reddit thing is huge with the young folk:
Squeezes like this rarely end well,
He spelled ‘never’ wrong.
I suspect the 3 million kids bought options with their stimulus money for 320 not caring if they lost that. I doubt they can come up with 32k so it should be very interesting to see how this unwinds.
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@horace said in The GameStop/Reddit thing is huge with the young folk:
@loki said in The GameStop/Reddit thing is huge with the young folk:
Horace- how is your silver doing? Did you hold?
Currently up 100% from when I bought it. I don't have plans to sell, though.
Nobody ever went broke counting on the kindness of strangers.
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@horace said in The GameStop/Reddit thing is huge with the young folk:
Currently trading at 178.
@89th should have shorted!
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@lufins-dad said in The GameStop/Reddit thing is huge with the young folk:
@horace said in The GameStop/Reddit thing is huge with the young folk:
Currently trading at 178.
@89th should have shorted!
It's taken a beating in after hours trading. It closed at about 220.