So Gamestop shares aye?

[icemann]

So there has been a large campaign by users over on reddit to up the value of Gamestop shares which rich billionaires have been complaining about. Did you invest on it? Amusing stuff overall.

[Skalpadda]

Almost completely clueless and disinterested when it come to the stock market, but it has been interesting seeing r/wallstreetbets make the news by murdering some actual Wall Street bets.

And surprised by the news that Gamestop still exists.

I saw the quote “We can remain autistic longer then they can remain solvent!”, which is certainly a battle cry for the ages.

[LTK]

I concur with everything Skalpadda says. I bought one share, which I am fully prepared and half expecting to lose completely, but whatever happens I want to be able to say I was part of a bunch of nobodies who beat a predatory hedge fund at their own game to the tune of billions of dollars.

[BillButNotBen]

I think it’s a bit late to join in now, as the share price will probably reset in the end, which means a big drop.

That said, it appears that reddit may have almost single-handedly saved the AMC cinema chain, by getting them out of $600M of debt. So, yay!

[LTK]

I think it’s a bit late to join in now, as the share price will probably reset in the end, which means a big drop.

If the chatter is to be believed, the price still has quite some room to increase. The current price seems to be mainly the result of people buying the stock like crazy, and the short squeeze (the BIG one) has yet to happen. So it’s more expensive to buy in now, and you stand to lose more, but if you’re willing to take the risk I think you can still double your investment. Maybe. I’ve literally never bought stocks before, so what do I know?

[icemann]

Was kicking myself as yesterday the price was 200 and something, and then I check today and it’s currently 325.00. So would have made a bit of a profit. Ah well.

I’m not normally EVER a shares person, but this seems like more of a sure thing than shares normally ever are. Usually I prefer buying and selling on Ebay as that’s a sure thing if you do your research. Just have to be prepared to put something up for a while before you get the amount it’s worth.

Sure is nice though seeing the little guys give it to the rich people. Those same rich people who put so many out of work, out of their homes etc without a second thought. But as soon as it looks like they will lose some money then oh shit look out. We gotta change the rules now so they keep making their big $$$.

[Firkragg]

Don’t put yourself down for not getting on the burning-wobbly-wagon that is the GME stock right now, thats a healthy reaction for something so unsure and highly speculative going on right now. For that is what it is right now; i’ve read well-written posts arguing for a “gamma squeeze” going to press the price to 1000 dollars within 3 days, to just as well-written posts arguing for why the “squeeze” has already happened and topped out at 375 dollars (I believe thats where it hiked?).

Having said all that, i’m late to the party but think i’ll try a little investment come monday. I AM NOT stock-savvy enough to tell you this is a good idea, i’ve only traded in stocks since March last year, in great part because of the pandemic. Lost quite a bit of money starting up, learning about trading, but have done quite well the last 8 months. However, the money I put in stocks is money I won’t be missing, i.e. don’t put money down that you know you may well end up having to need for something soon. Financially I live a really boring life, have no debt and wanted to make some of the money I’ve saved up work for me. So if you take anything away from this, please think responsibly and only invest in ANYTHING if the money you use is something you can miss if the market turns on you. Because by golly, it can really turn. And when something like this turns up, be especially careful. I’m not savvy enough stockwise to tell you its a good idea, only its a really, really great risk to take, especially with money you might need later down the line.

[icemann]

Second all of the above. Only spend what you can afford to lose. Keep any profit made, don’t put it back in.

[BillButNotBen]

Annoyingly, I’ve been meaning to open an investment account for ages, finally got around to investigating options recently, and picked the best one. But I needed some documentation before I could open it and that only came through today.
Went to sign up, only to discover they’ve disabled opening new accounts due to ‘unprecedented demand’.

Wasn’t particularly planning on doing the gamestop thing, just some ETFs or something.

[icemann]

If you were thinking about doing it, but haven’t yet I’d strongly recommend it against it now. Looks like the ships sailed. Price has been plummeting.

On the bright side, if you were to invest now and the price sky rocketed back to last weeks price then you’d make quite a lot of money.