GameStop stock up 92.7% today
finance.yahoo.comTotal Value stock. Lot's of runway to make a lot of money. Physical video game cartridges have more staying power than the California redwoods. More profitable than Apple soon. Will change the physical video game space more than Pets.com or Yahoo Hotjobs! ever did. Super excited things are this conservative.
Oh no, there is a massive short and convexity squeeze at play right now. When these positions need to be covered Friday, some people are going to get absolutely hosed.
The weekly and monthly options expire Friday, and people who hold them will need to buy at whatever price the stock has, right?
This is a gamma squeeze. So the price should rise even further on Friday.
Who is going to get hosed? Short sellers or owners?
Floating shares of 46.89M and Shares Short as of (Dec 31, 2020) at 71.2M. So the the sellers as they have over played their hand. Who knows what tricks are up their sleeves to cover it, but it's pretty wild over at wallstreetbets right now.
> but it's pretty wild over at wallstreetbets right now
So Frankenstein has realised his monster is out of control?
edit: There is a reason some short sellers have moved into politics. A sudden and unforeseen drop in a share price is a rare event, and the WSB guys are kidding themselves if they don't realise that a bunch of large investment houses aren't going to a) notice the play and b) eat their lunch. Better that WSB goes private, gets some of their members into politics and, for instance, pushes for secession, a USEXIT if you will. The Brexit crew are minting it at the moment, with all the mayhem they are causing.