GME and AMC stock action (out of main)

[TheTalkingMule]

Super dip, halt and resume. Another GME day. Another dip and halt. Dip and halt again.

@TheTalkingMule
That call to sell at 308 was pretty damn prescient.

I was close! Maybe an hour early. Seems to be headed back up to neutral for the day.

Took a moment to circle back and try to calculate yesterday's short interest update. I don't see that they've actually been updated anywhere. I posted last night that the 60.35% short figure seemed awfully familiar....I think that's the number thru 2/12. No indication of the new number thru 2/26. Hmmmmmm

Let me poke around a bit more.

 

[Johan]

Lol. This is entertaining. Ape together strong - it really do be like that.

 

[Bet TSLA]

All I'm sure of at this point is that I have no idea who is short GME how much or why. I got into GME to support WSB's attempt to squeeze the shorts. Maybe it worked for Melvin and Citron? But how can you tell who is lying and how much? And why would anybody believe the short interest numbers, as they are easy to game and way out of date regardless? My suspicion now is that this has become a battle between sharks, as there's blood in the water.

While I think the stock action is explainable only if there is still fairly extreme short interest, I have no idea any more who the good guys are. So I partly exited this morning. I sold 131 shares across a few accounts at an average of $332.50. I'm still holding 100 shares in my trading account, with a $82.25 cost basis, just in case there's a point. And no, making money isn't a point for me, although it's fine if that's how it works out.

 

[Bet TSLA]

Any opinions on what GME is worth outside of its short squeeze potential? I've seen estimates anywhere from $10-$30.

 

[chronoreverse]

The user DFV on Reddit who sort of sparked this believes it's worth buying even at $40. The current situation is obviously just meme inflation.

 

[theschnell]

I sold today at $325 which was dead break even for me. Didn’t think I would see that number again so soon. Happy to move on.

 

[TheTalkingMule]

Any opinions on what GME is worth outside of its short squeeze potential? I've seen estimates anywhere from $10-$30.

I would say it's probably worth $12-20 just because a pivot could salvage the company if they pivot properly.

HOWEVER, with all the good will and publicity generated, I think something like $20-40 is more fair. Not even a massive market cap.

They really should be capitalizing on this situation to raise billions in an offering that clears the short position. Maybe a split or some other event that triggers covering of all naked shorts, and an immediate massive cash raise. Then build off the good will and recognition that just landed in your lap.

None of that is likely to happen, so really it's not worth anything.

Now that this battle is so heated, it sure feels like just hedge fund vs hedge fund. So there's no need to "support the effort". I'm gonna eject half either at 420 or high 300s. Then if we don't see a megasqueeze relatively soon sell the rest. I assume everyone has the same plan so it may not work out. Either way I'm already freerolling.

I never had time today to figure out the short interest update that was due yesterday. Will figure it our premarket tomorrow, would really like to know.

 

[UnknownSoldier]

The irony is that there is now not enough short interest in TSLA to try the same play there. The reason retail is able to fight The Battle of Gamestop to a standstill against the hedge funds is simply because of the sheer amount of shares sold short. Maybe back in the days when TSLA was sold short 40%+ we could have fought a similar battle and won it but those days are long gone now. At least we won a different way there.

 

[TheTalkingMule]

Biden has signed covid relief, check will begin going out Mon/Tues-ish. Look out shortz!

 

[TheTalkingMule]

Keeping a dozen shares in case of an actual squeeze, selling the rest in small bits up to $420.69. No clue what short interest actually was 10 days ago and tiring of following all this nonsense. Back to TSLA!

 

[TheTalkingMule]

The irony is that there is now not enough short interest in TSLA to try the same play there. The reason retail is able to fight The Battle of Gamestop to a standstill against the hedge funds is simply because of the sheer amount of shares sold short. Maybe back in the days when TSLA was sold short 40%+ we could have fought a similar battle and won it but those days are long gone now. At least we won a different way there.

When I first learned about delta hedging here, I brought up this idea of trying to force hedging via mass option buying and was shot down pretty quickly. The float was probably way too large, but I would also say the initial retail army for TSLA was likely a good bit larger too.

This big differencing being....Gamestop was in the SP500, TSLA was not. Without that massive chunk of shares out of circulation, hedge funds had more than enough float to push short interest to nearly 80% of the functional float without any real danger of a squeeze. I'm sure the SEC is as we speak investigating the S&P committee's ties to short selling hedge funds to make sure that wasn't done purposefully.

 

[TheTalkingMule]

 

[TheTalkingMule]

Pretty darn good MMD pushdown took GME from +5% to -15% and now to -7%. Good entry points for hedgies and day traders this morning. Awaiting the great unwind.....

 

[UnknownSoldier]

The annoying thing about the Battle of Gamestop is that the entirety of WSB is basically only about that now. Even Papa Elon can't get any memetime there these days. You can only see so many Gamestop threads before you get bored, I remember when there were lots of fun meme stonks at WSB. I mean, it wasn't that long ago.

 

[winfield100]

what happens Friday during a lot of options expiry

 

[Artful Dodger]

WATCH LIVE: GameStop hearing on Capitol Hill — 3/17/2021

 

[ZsoZso]

WATCH LIVE: GameStop hearing on Capitol Hill — 3/17/2021

Love it how they want to push the conclusion that "retail investors will always lose because institutions have both the systemic advantages and the vast knowledge", but somehow their vast knowledge failed them when it came to TSLA, LOL

 

[TheTalkingMule]

Clicked on that nonsense and was ready to puke inside of 10 seconds. Some GA Rep droning on about how any transaction tax would be catastrophic and make people work 2.5 years more before they retire. Because obviously working people make tens of thousands of securities trades every day. So done with Congress.

GME looking strong today as stimulus check filter into people's bank accounts. Interested to see if this triple witching Friday along with these supposed clearing house rule changes going into effect Friday. Could see a big dump on Friday followed by a blast off Mon/Tues.

 

[TheTalkingMule]

I'm taking the inability to push GME down heading into triple witching Friday as uber-bullish for a near term squeeze. I'm talking up from .1% chance to something like 2% chance. Gonna buy some $500 calls for next week if we're still here near closing today.

Not advice.

 

[UnknownSoldier]

Tomorrow we find out which GME investors became Men.

I have a mind to buy some fun shares if it takes a big dive.