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The whole play behind GME is to get institutional shorts to cover or be margin called.
That huge spike on Friday from 55 to 75 was supposedly one margin call, so imagine what would happen if an even larger margin call was to happen or a hedge fund decides to call it quits?
Shorts already lost 800 million on Wednesday when the price was $40, so I can't imagine how much they're losing now that the price has rocketed to $60+ with rising borrow rates. Short interest is still over 100%.
My take on the situation:
Price of GME will continue to go up as people buy shares and calls
People buying OTM calls will continue to force gamma squeezes
Shorts will cover or get margin called here and there
Rinse and repeat until some major event happens
With every call expiring ITM on Friday, we're already seeing a nice wealth transfer from institutions to retail investors. This is pretty historic IMO.
Some people think it's undervalued, some people believe in Ryan Cohen, some people are in it for the short squeeze, some people are just riding the memes, etc.
The reddit post below sums out how unique this whole situation is.
GME is a perfect fucking storm of circumstances that we may never see again.
Insanely high short interest.
Big names with great track record brought in to right the ship.
During an era of 100% democratized trading, commissions free, with a few mouse clicks and button presses.
A stock that was undervalued by most metrics and was only trading as low as it was because bankruptcy was priced in.
All meeting at the dawn of a new console cycle.
In a booming and growing industry where at least in the US they are basically the only brick and mortar game in town.
All this to say if you think you're going to find GME plays with any regularity going forward you are insane. They're going to write about this one in the history books right next to VW. Even if Cohen can't pivot this company.
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Owner of Vansterdam's 420th thanks. OH YEAUHHH.
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Originally Posted by 89blkcivic
Did I tell you guys black is my favourite colour? My Ridgeline is black. My Honda Fit is black. Wish my dick was black........ LOL.
wasn't black berry rated one of the most secure operating systems or am i just making shit up?.
possibly someone leaked out information there gonna try battle it out in the smart phone world?
cause i swear all i hear is bitching about $2,000 dollars for a cellphone "is too much" lol and maybe blackberry wants a piece of action for 2021 on lower level headed pricing on product pricing. against the big dogs everyone is starting to hate without the chargers included in the box Nickle & diming
Anyone else got into BB?
Sold my weedstocks and moved profits and then some to BB today.
WSB got a lot of hype going on for BB.
First time trading based off mostly hype, it's like playing crypto almost.
Held BB back then when AMD was only $13 bucks LOL.
All I remembered BBRY (old ticker) did not want to move at all, nice to see BB getting the exposure it deserves. John Chen did a good job turning the company around.
PAY BACK TIME MFs
Anyone else got into BB?
Sold my weedstocks and moved profits and then some to BB today.
WSB got a lot of hype going on for BB.
First time trading based off mostly hype, it's like playing crypto almost.
Held BB back then when AMD was only $13 bucks LOL.
All I remembered BBRY (old ticker) did not want to move at all, nice to see BB getting the exposure it deserves. John Chen did a good job turning the company around.
PAY BACK TIME MFs
Got into BB at 15.45 on a whim the other week after I did some DD. Lucked out because it's been constantly going up on no news and then the Baidu stuff tonight.
For those still in SPACs, I believe BTNB is supposed to go live some time tomorrow. Softbank's SVFA is also splitting units and starting to trade commons and warrants on Wednesday. Since SVFAU went live only a few weeks ago, they might already have a target.
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Originally Posted by ilovebacon
LOL. So this is what's happening. How interesting.
At what price target are you guys thinking of selling?
I'm conflicted to take profits now or wait to see what happens on Friday since all the weeklies are deeply ITM.
I don't have much in my portion. I just wanted to join the movement. Might sell at 800 if it reaches 1000$ judging with what happened to Volkswagen short squeeze.
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
The banners on the left side and below do not show for registered users!
