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What other tech stock to consider?
- Thread starter Sanny
- Start date
Why does all this activity on these beaten down stock smell like a more sophisticated version of classic pump and dump operations? It used to be boiler rooms of a telesales guys hyping some stock, selling at the top after they had quietly accumulated at the bottom for a while. This is the same thing only using the Internet to broadcast the hype instead of using phones.
Have fun following it guys but make sure you get out, don’t hold long as you’ll be left holding the bag.
I also got in because Gary has a price target $8 within 6-12 months when they reopen the theaters and they got 900M yesterday and their is no fear of backruptcy. I don't think theaters are future
but after we have been stuck at home for 9 months and who knows for how much longer I would love to be able to go and see a movie.Attachments
TheTalkingMule
Distributed Energy Enthusiast
Gonna buy a share of GME on principle if it starts to give back some of these gains. Gotta buy some puts though, right? Is an IV of 400% too high? Lol
JRP3
Hyperactive Member
I can't remember the last time I went to a theater before covid, I certainly won't be rushing back out to one after.I don't think theaters are future
I’m going to take credit for the ABML 10% jump AH.
I rented one twice during covid. It was amazing and not expensive.
GrandEnigma
Member
I’m going to take credit for the ABML 10% jump AH.
I rented one twice during covid. It was amazing and not expensive.
Seriously, it was $3 for my entire family to watch a movie vs $75
Commenting to watch - great sharing of ideas and thesis - appreciate all that everyone has put in.
Cheers
Cheers
%#$@&^! It is up 215% this morning, 7 minutes into the market. Come on!!! Do I have to start following Wall Street Bets too? Can someone just summarize it for me and I promise I'll buy into the next piece of crap they recommend?
All the SPACs tested my resolve to not get into dodgy public company startups.
Companies like Nikola tested by resolve to never short sell.
Wall Street Bets is really, really testing my resolve not to buy Internet rumors, but, I ... don't ... know ... if ... I ... can ... resist...
It's worth following just for the humor TBH. Those idiots have already made me a lot of money.
I don't know what to tell you this is just gambling and I just went with the trend. I sold enough to cover my cost premarket and I was trying to close some of my options when the market opened but E-trade doesn't work
. This is ridiculous it's been 22 minutes.
Some of the videos that are posted literally have me LOL (most of the time when I say lol its less than a small nose exhale)
If you do go there be warned that the vocabulary has a bit of a learning curve....
Yep, bought ABML on the dip. Thanks @Xepa777!EV and lithium stocks getting slaughtered this morning. Easy come easy go I guess but damn it sucks to see that big red number next to my account LOL.
Things are recovering a bit now but it was ugly for a while. NNDM, WKHS, TSLA, and RIDE are my only stocks in the green right now today
I knew some kind of correction was coming though, these things have done nothing but go up the last few weeks.
I had a chat with my wall street guy. Apparently almost all the top 30 most shorted stocks are running up today and have been since Monday. It is a combination of WSB targeting shorts and the short hedge funds getting out of dodge early before their holdings get directly targeted by WSB.
This has been fascinating to watch. An army of retail investors versus the big short hedge funds. So far the retail investors have been winning and cleaning out the shorts. Melvin Capital had to have an emergency cash infusion of $2.75B last night to stay afloat:
Melvin Capital Requires $2.75 Billion USD Cash Infusion After WallStreetBets' GameStop Rally
At some point, this will unwind of course. Gamestop can't be a $20B market cap company for long (or can it?). More popcorn please...
This has been fascinating to watch. An army of retail investors versus the big short hedge funds. So far the retail investors have been winning and cleaning out the shorts. Melvin Capital had to have an emergency cash infusion of $2.75B last night to stay afloat:
Melvin Capital Requires $2.75 Billion USD Cash Infusion After WallStreetBets' GameStop Rally
At some point, this will unwind of course. Gamestop can't be a $20B market cap company for long (or can it?). More popcorn please...
I agree, I have to think Gamestop is gonna crash at some point but what a ride for the last few days. I view them as the blockbuster video of games, it doesn't seem like a good long term business model as gaming moves more to the cloud. I don't even buy disks for my XBOX anymore I just have gamepass. Probably why they were so shorted to begin with.
I didn't have the balls to get in on it but my buddy made $20k this morning by buying GME premarket. Almost makes me want to find all the heavily shorted stocks and start buying.
Yes, but... We are in uncharted territory here. How much powder does the army of WSB have? When GME starts a sustain fall, will people bail on all these other bets? Most of these stocks truly are dogs. Do you really want to be long them?
Bleah. I've got other work to do. I'll be sitting this one out (just like I've been doing with the SPACs). This is definitely a day traders market now though!
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