Gamestop?

Ask your investment, budget, and other money related questions here
Post Reply
EdithKeeler
Posts: 1080
Joined: Sun Sep 01, 2013 7:55 pm

Gamestop?

Post by EdithKeeler »

Anyone here following the GameStop/Reddit saga? Thoughts? I had wondered why Blackberry's stock had shot up, and didn't realize it was part of this deal as well.

My only thought is that I wish I'd gotten in on it.... It looks like the Redditors are looking for other funds/stocks to exploit, and apparently the original hedge fund with the Gamestop stock has had to shut down.

https://www.cnn.com/2021/01/27/investin ... index.html

User avatar
Lemur
Posts: 994
Joined: Sun Jun 12, 2016 1:40 am

Re: Gamestop?

Post by Lemur »

Back couple of pages of the Investment Log has been discussing.

But yes, I hope you're right about retailers looking for other funds/stocks to exploit. Even better - if hedge funds start preemptively start covering their shorts or joining in on some of the trend. I went heavy on both MAC and NOK in just the past 2 days hoping to catch the frenzy.

The big question I have at this juncture...is I don't know if I'm exactly 1 step ahead or one step behind. :D
My only hedge is that if I'm wrong, at least I see long-term prospects in the ones I picked.

This Gamestop Phenomenon ....very exciting as I browse WSB and I been watching the saga unfold since early December. Its more than just a bunch of retailers trying to make a quick buck - its part of a broader cultural war at this point with big Media and Congress now weighing in.
Last edited by Lemur on Thu Jan 28, 2021 1:57 pm, edited 1 time in total.

jacob
Site Admin
Posts: 13202
Joined: Fri Jun 28, 2013 8:38 pm
Location: USA, Zone 5b, Koppen Dfa, Elev. 620ft, Walkscore 73
Contact:

Re: Gamestop?

Post by jacob »

See viewtopic.php?p=235825#p235825 and onwards ...

Hristo Botev
Posts: 1283
Joined: Tue Jul 17, 2018 3:42 am

Re: Gamestop?

Post by Hristo Botev »

I've gotten very little done at work all week as I've been living vicariously through friends who have skin in the game (indirect excitement is all this passive index investor needs). It's not often you've got Ted Cruz and AOC on the same side of an issue. At this point I'd expect we're at least to the point of this phenomenon being a footnote in Bodie's next edition of the Investments textbook.

User avatar
C40
Posts: 2588
Joined: Thu Feb 17, 2011 4:30 am

Re: Gamestop?

Post by C40 »

Root for me. I have a small amount of shares that I'm hoping to turn into money for many thousands of bahn mi sandwiches

EdithKeeler
Posts: 1080
Joined: Sun Sep 01, 2013 7:55 pm

Re: Gamestop?

Post by EdithKeeler »

Oh, sorry. I don't follow that thread--too long!

User avatar
C40
Posts: 2588
Joined: Thu Feb 17, 2011 4:30 am

Re: Gamestop?

Post by C40 »

It is basically the only thing discussed for the last 2-3 pages of the investing thread.

Hristo Botev
Posts: 1283
Joined: Tue Jul 17, 2018 3:42 am

Re: Gamestop?

Post by Hristo Botev »

C40 wrote:
Thu Jan 28, 2021 2:07 pm
many thousands of bahn mi sandwiches
A "real" asset if ever there was one; perhaps more real than whatever the productive capacity of GameStop is at this point.

jacob
Site Admin
Posts: 13202
Joined: Fri Jun 28, 2013 8:38 pm
Location: USA, Zone 5b, Koppen Dfa, Elev. 620ft, Walkscore 73
Contact:

Re: Gamestop?

Post by jacob »

Lemur wrote:
Thu Jan 28, 2021 1:55 pm
Its more than just a bunch of retailers trying to make a quick buck - its part of a broader cultural war at this point with big Media and Congress now weighing in.
Yeah, the parallels to "social media generated herd of instigators facilitated by ideologists insisting on principle for the sake of principle and useful idiots joining for shits'n'giggles while not thinking about the reality-based endgame" with "corresponding platforms creating distance to the shitshow by crudely clobbering the principal vector of contagion" are painfully obvious. This will ultimately be followed by lamentations of "wah-wah, the interwebs put me in a position where I felt compelled to stop thinking and go along because ... in any case, it's not my fault that I stupidly ruined my own life, really."

I'm not sure what to think about this [state of humanity] anymore.

Hristo Botev
Posts: 1283
Joined: Tue Jul 17, 2018 3:42 am

Re: Gamestop?

Post by Hristo Botev »

This Twitter thread is interesting; gives much more of the backstory than what I've seen so far from the news outlets. https://twitter.com/endtwist/status/1354547622133051393

white belt
Posts: 528
Joined: Sat May 21, 2011 12:15 am

Re: Gamestop?

Post by white belt »

I’m in the same boat as C40. Basically just riding the wave with fun money and seeing how far this goes. Profits (if any) will likely go into buying gold because my asset allocation has gotten out of wack from the everything bull market.

IlliniDave
Posts: 3250
Joined: Wed Apr 02, 2014 7:46 pm

Re: Gamestop?

Post by IlliniDave »

Hristo Botev wrote:
Thu Jan 28, 2021 2:04 pm
It's not often you've got Ted Cruz and AOC on the same side of an issue.
Well, via twitter she just accused him of trying to have her murdered so I don't think that alliance is in the cards. :lol:

Hristo Botev
Posts: 1283
Joined: Tue Jul 17, 2018 3:42 am

Re: Gamestop?

Post by Hristo Botev »

@IlliniDave: Ha! I saw that. Nevertheless, in a post-Trump world it looks like we've got populism bombs flying from everywhere; I don't envy Biden for having to try and manage this minefield.

Redo
Posts: 48
Joined: Sat Dec 01, 2018 2:30 pm

Re: Gamestop?

Post by Redo »

The only reason I am not in this trade is because I don't have an exit strategy. As soon as the hedge funds tap out, it is going to free fall. And I don't know when/if they will.

Hristo Botev
Posts: 1283
Joined: Tue Jul 17, 2018 3:42 am

Re: Gamestop?

Post by Hristo Botev »

white belt wrote:
Thu Jan 28, 2021 2:32 pm
Profits (if any) will likely go into buying gold because my asset allocation has gotten out of wack from the everything bull market.
Not silver? viewtopic.php?p=236155#p236155

white belt
Posts: 528
Joined: Sat May 21, 2011 12:15 am

Re: Gamestop?

Post by white belt »

@Hristo

To be clear, I already own a good chunk of gold and I’m talking about just expanding my position for buy and hold purposes, especially since we’ve seen a dip in gold prices recently. Although this sort of thing really has me considering allocating 1-5% of my portfolio to speculate on these types of absurd social media trends (the past year we’ve had Bitcoin and Tesla show some crazy performance).

jacob
Site Admin
Posts: 13202
Joined: Fri Jun 28, 2013 8:38 pm
Location: USA, Zone 5b, Koppen Dfa, Elev. 620ft, Walkscore 73
Contact:

Re: Gamestop?

Post by jacob »

Redo wrote:
Thu Jan 28, 2021 2:36 pm
The only reason I am not in this trade is because I don't have an exit strategy. As soon as the hedge funds tap out, it is going to free fall. And I don't know when/if they will.
Exit-strategy indeed. Platforms crudely closing off further buys are trying to avoid being the one left holding the blame bag as people try and fail to unwind the trade. Similar to how the least regulated (on the margin) social platforms quickly ended up with the worst behaved users. Even if the platform's ideology/terms didn't exactly warrant it, the outcome was inevitable.

It's a failure to consider the systemic response. Simple prisoner's dilemma.

Hristo Botev
Posts: 1283
Joined: Tue Jul 17, 2018 3:42 am

Re: Gamestop?

Post by Hristo Botev »

@white belt: That was my attempt at a bad joke. I've been following your posts for quite a while as I've been impressed with your transition from Vanguard index funds (where I'm still at) to a more thoughtful investing strategy, so I know you're not one blindly following the social media buzz and betting your life savings on a meme stock.

IlliniDave
Posts: 3250
Joined: Wed Apr 02, 2014 7:46 pm

Re: Gamestop?

Post by IlliniDave »

Supposedly SDNY has filed class action lawsuit against Robin Hood. Note to self: never mess with the source of the dark money.

white belt
Posts: 528
Joined: Sat May 21, 2011 12:15 am

Re: Gamestop?

Post by white belt »

There are also calls from multiple Congressmen for an investigation into Robinhood and how Citadel may have influenced and profited from the restriction of retail GME buying. This is getting messy fast. It seems Wall St has prevailed in the battle so far today, but I think there is much more to come.

Edit: Someone help me understand the structures at play here. A restriction on buying GME on retail trading apps does not imply a restriction on institutional traders because they transact through other channels, correct?
Last edited by white belt on Thu Jan 28, 2021 3:15 pm, edited 1 time in total.

Post Reply