Dont confuse people buying in for a short squeeze to investors buying in based on fundamentals. This has just turned into a long squeeze instead of a short one. Still plenty of shorting going on still plenty of people holding out until they maybe cover. Also still people wanting to stick it to the man or somesuch thing. Funny enough the longer it takes the more fundamentally sound the company gets. Earnings report is today, should be interesting. Either way, Meme stocks are easy money.
Well, yes, but it also had some connection to real things being done. At least some ended up with nice flowers and some learned to grow them, and everyone had skin in the game they were playing. Now it’s significantly more like gambling where some people can tilt the table and others wink the croupier, with the house skimming in more and more elaborate ways.
Of course, the above is mostly about the excesses, the vast majority is… Some other topic. The common idiot can certainly make a fair bit of change by following some of the long bets.
The common idiot can make a ton of money in a ponzi scheme too, that is, until the party suddenly stops.
Why would you buy GameStop when you could buy a meme ETF?
I mean… obviously this is where things were headed.
Well, what would you do if you were Gamestop? I mean, assuming you don’t just shutdown and return money to investors.
Used games are like buggy whips, they’re rapidly becoming obsolete. Kitschy crap, bobbleheads and extra cables and gamepads, this is not a great business. So you have just under 5000 physical stores in malls, for fuckssake and it’s 2022, what do you do?
Waifu pillows and ax body spray.
They already tried this.
Gamestop is d0med, everything they’ve tried in the last ten years to avert this moment failed, and they tried a lot.
Lolololol, they’re betting it all on NFT
That would be the morally correct thing to do. Instead, they raised, even more, $ at the insane valuation there were at last summer.
You don’t get the parachute by being moral.
Ok this is just stupid. GameStop still not making money, but wants to do a stock split and dividend.
Fuck GameStop for ruining ThinkGeek!
Good for them standing up for themselves. Seems some things never change ehh GameStop?
Man, I haven’t read that blog since… at least 5 years? more?
She has a new (well, newer than five years) book out.