Feb 4 2021, 12:23 PM
QUOTE(yhtan @ Feb 3 2021 @ 09:48 AM)
End game liao lah, there might have some rebound but i really doubt will go back to $200-400 price range.
Those reddit followers thought they have won WSB but in fact it was the fighting between hedge fund, those fund holding GME stock will find it attractive to dump it and cash out once and for all.
Those reddit followers thought they have won WSB but in fact it was the fighting between hedge fund, those fund holding GME stock will find it attractive to dump it and cash out once and for all.
QUOTE(lurkingaround @ Feb 3 2021 @ 10:35 AM)
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Yes, this saga is likely going to be an end-game, eg today's closing price of Gamestop/GME share is US$90, a huge drop of 60% compared to yesterday's closing price of US$225. Friday's closing price was US$325.!
Those gullible Retail investors who bought at >US$300 and >US$200 just to spite the HF short-sellers and/or expecting their cohorts to push the price towards US$1,000 or more, will likely get burnt, especially if they stubbornly hold on the over-valued shares.
My take is that from the beginning(= a few months ago) of the Gamestonk movement at r/Wallstreetbets to seek revenge against the HF short-sellers, this was a money scam masterminded by the HF/MF people themselves, eg the major shareholders of Gamestop Corp are HF/MF and r/#DeepFuckingValue aka Keith Patrick Gill is a MF insider.
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.Yes, this saga is likely going to be an end-game, eg today's closing price of Gamestop/GME share is US$90, a huge drop of 60% compared to yesterday's closing price of US$225. Friday's closing price was US$325.!
Those gullible Retail investors who bought at >US$300 and >US$200 just to spite the HF short-sellers and/or expecting their cohorts to push the price towards US$1,000 or more, will likely get burnt, especially if they stubbornly hold on the over-valued shares.
My take is that from the beginning(= a few months ago) of the Gamestonk movement at r/Wallstreetbets to seek revenge against the HF short-sellers, this was a money scam masterminded by the HF/MF people themselves, eg the major shareholders of Gamestop Corp are HF/MF and r/#DeepFuckingValue aka Keith Patrick Gill is a MF insider.
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Today, GME share price closed at US$92 - a price likely set by the HF/MF manipulators to sell their US$10 GME shares bought a few months ago, at US$90 = profits of 900% for the HF/MF.
Similar to how MLM scams eventually die out when they run out of numbers in recruiting new gullible investors after 1 to 2 years in operation = the MLM masterminds disappear and abscond with the $ millions collected from those who bought in late or last, to start a new MLM scam a few years later(most gullible folks have short memory); ....
... Share scams, like the likely Gamestonk/short-squeeze scam, often eventually die out or Game Over, with the share price dropping down back to earth from its peak prices(eg GME share price will likely drop down to about US$10 from its peak of US$478 last week) when the scams run out of gullible Retail investors willing to buy the share at high prices, eg around US$90 for GME share = the HF/MF masterminds will then move on to later manipulate another company share or commodity or foreign currency or etc with a new scam.
OTOH, if there remains many gullible Retail investors willing to buy GME shares at US$90, then this high price will stay for awhile, maybe for a few weeks.
....... But Gamestop Corp has little fundamentals as a profitable business = it may even go bankrupt = the high price of US$90 per GME share is not sustainable in the long run, ie after all the HF/MF have sold off all their GME shares at huge US$ billion profits and the hype at r/Wallstreetbets has become stale news, eg in March 2021.
P S - Note that the HF/MF and others have also made huge profits by short-selling GME shares at about US$300 last Friday and this Monday.
Caveat Emptor or Buyers Beware.!
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