Reddit and Elon Musk sparked a GameStop stock surge. Why AMC and BlackBerry are next

[5teamparlay]

https://www.cnet.com/personal-finan...-stock-surge-why-amc-and-blackberry-are-next/


[h=1]Reddit and Elon Musk sparked a GameStop stock surge. Why AMC and BlackBerry are next[/h][FONT=&quot]Online market players hatched a plan to make GameStop's stock rocket up despite having little value, and it worked. Then Elon Musk tweeted about it too.[/FONT]
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<time datetime="2021-01-27T07:26:00-0800">Jan. 27, 2021 7:26 a.m. PT</time>

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</amp-img><figcaption style="text-align: left;">GameStop and BlackBerry stock have soared in recent days.
Sarah Tew/CNET</figcaption></figure>[FONT=&quot]GameStop isn't just a store that sells video games. It's also one of the biggest bets Wall Street traders have made lately, with nearly all of them expecting it to fail. That was, until Monday morning, when a bunch of Redditusers decided to play the market and push GameStop's stock up to nearly three times its average over the past several months. Then they started spreading their strategy to struggling movie chain AMC and once-popular smartphone maker BlackBerry too. [/FONT]
[FONT=&quot]It all started last week, when posters on the Reddit stock trading chat community WallStreetBets attempted to push up shares in the struggling game retailer. With much of Wall Street betting against GameStop's success, WallStreetBets investors believed they could force a market rally by creating demand where there had been little before.[/FONT]

 

[SmallDaddy]

that is how you know the bubble is about to burst

 

[rolltide]

a little financial French Revolution started on reddit so, of course, the govt and big tech now want to deplatform reddit

they might want to look up the word palliative in the dictionary

 

[rolltide]

that is how you know the bubble is about to burst

that a picture of joe from 1974? dude looks like a bloodless carcass now

 

[Defying]

as much as i think yall are trump-idoits, i dont want you to be financially ruined. I'd be careful with the other stocks listed. There's definitely a call in this group to that raised GME, to refocus to only GME. It started to bleed into other companies with some nostalgic brands that are heavily shorted. But it requires millions of people and splitting focus/funds will ultimately be the demise of the power this group has greated.

GME was a perfect candidate stock as it was overextended on shorts, i guess the term of the week is naked shorts. And basically they are bleeding hedgefunds who shorted, putting them in a short squeeze situation on top of it. A lot of the original purpose was to stick it to the wall st man. It has now captured the hearts of opportunistic capitalist like you and me. But be careful. I do think there will be mini runs on BB, AMC, NOK, but the fall will be far less predictable it's not the primary focus of the group.

If you have all day, you can follow the happenings for yourself on reddits wallstreetbets page. also, twitter gme search will give you a slightly different perspective of whats going on.. but its a black hole.

 

[CaptainLee]

as much as i think yall are trump-idoits, i dont want you to be financially ruined.

I appreciated reading this and got a pretty good laugh too.

 

[In2Win]

Defying Summed it up pretty well, stay the course on GME. I guess many were coming into the reddit and trying to get some momentium going with some other stocks just due to the massive amout of exposure the reddit was getting. You did see some pump on the other stocks but many of the original redditors with GME said its smoke and stick to GME

 

[LordQuas]

This thing is going to come down in a colossal fireball. The stock went up this high because the short sellers actually started buying to cover their positions which fed the spike. But if they're out now, who buys this stock at $350? Or whatever it goes up to.At some point the buyers are all gone and there's nothing but people trying to get out, and the value will evaporate faster than it went up. These guys have opened pandora's box as far as stock manipulation. It's funny once but this could destabilize the entire market if there's a social media group running around pumping and dumping companies. I despise short sellers but at this current price I think it would be wise to take a small position short selling gamestop. I expect an sec inquiry next week and stock falling back to single digits by February. It really shows just how volatile the stock market is. Its really a house of cards ready to fall.

 

[shdw01]

This thing is going to come down in a colossal fireball. The stock went up this high because the short sellers actually started buying to cover their positions which fed the spike. But if they're out now, who buys this stock at $350? Or whatever it goes up to.At some point the buyers are all gone and there's nothing but people trying to get out, and the value will evaporate faster than it went up. These guys have opened pandora's box as far as stock manipulation. It's funny once but this could destabilize the entire market if there's a social media group running around pumping and dumping companies. I despise short sellers but at this current price I think it would be wise to take a small position short selling gamestop. I expect an sec inquiry next week and stock falling back to single digits by February. It really shows just how volatile the stock market is. Its really a house of cards ready to fall.

I was wondering what happens if Gamestop (who must be struggling finaically) decides this is the PERFECT time to dilute shares. They get 3x more than if they were to dilute 3 weeks ago. This now allows them to cash out a crapload and survive much longer than they would initially.

 

[internetdonk]

Um.. 3X of 0 is the same as 1x of 0.

 

[festeringZit]

AMC down 55% on the day.

Someone's getting burned on this one.

 

[snoop]

There are fools born every second. People is bragging about blowing up their IRA's contribution this year for a dozen of GME shares on Facebook/Twitter. :neenee:

 

[CHOPTALK]

Made some quick money
market buy 289 sold an hr later 320

 

[festeringZit]

Made some quick money
market buy 289 sold an hr later 320

You are a gambler!

 

[festeringZit]

Made some quick money
market buy 289 sold an hr later 320

You timed it right. Tanking now. Robinhood disallowing trading it.


[h=3]Why is it moving?[/h]<button class="benzingaViewMoreStocks___3oBH8" style="cursor: pointer; margin: 0px; line-height: 15px; border: none; display: block; border-top-left-radius: 0px; border-top-right-radius: 0px; border-bottom-right-radius: 0px; border-bottom-left-radius: 0px; font-family: inherit; overflow: visible; color: rgb(2, 182, 35); letter-spacing: 0px; background-color: rgb(247, 247, 247); padding: 0px; text-align: left; text-decoration: underline; width: fit-content;">View more stocks moving</button>


GameStop shares are trading lower. The stock has been increasingly volatile following interest from retail investors and Robinhood limited trading in the stock, telling users they can close their position but they cannot buy additional shares.
Jan 28, 2021 10:57a ET<button type="button" class="benzingapopup___1gtib" style="cursor: pointer; margin: 0px; line-height: inherit; border: none; border-top-left-radius: 0px; border-top-right-radius: 0px; border-bottom-right-radius: 0px; border-bottom-left-radius: 0px; font-family: inherit; overflow: visible; background-image: inherit; background-size: inherit; background-attachment: inherit; background-origin: inherit; background-clip: inherit; background-color: inherit; color: rgb(102, 102, 102);">Benzinga Stock Analysis</button>

 

[NorthernStar]

Total bullshit going on with the trading platforms not allowing people to buy certain stocks. How the hell is this free market? What are your chances of a stock going up if a bunch of places only allows you to sell and not buy.

It is ok for some hedge fund to short a stock and then go on TV or social media and trash the stock.....it goes down and he makes $$$$.

God forbid the main street guys get together and beat Wall Street..... then it is Houston we have a problem.... we have to crush these guys because they are taking away our ability to make millions.

 

[Defying]

total bullshit going on with the trading platforms not allowing people to buy certain stocks. How the hell is this free market? What are your chances of a stock going up if a bunch of places only allows you to sell and not buy.

It is ok for some hedge fund to short a stock and then go on tv or social media and trash the stock.....it goes down and he makes $$$$.

God forbid the main street guys get together and beat wall street..... Then it is houston we have a problem.... We have to crush these guys because they are taking away our ability to make millions.

thissss

 

[CoolBreeze22]

If they halted the buying, then who is buying when people try to sell right now?

 

[NorthernStar]

If they halted the buying, then who is buying when people try to sell right now?

Big hedge funds could still buy to cover their shorts

 

[NorthernStar]

Come on main street.....storm the "capital"....hahha

The game is rigged