Gamestop / WallStreetBets

[Frisk]

The meme stock is at it again.

[Frisk]

And yet a lot of the WSB members are still holding onto Gamestop, hoping and praying that it goes back to $300... still not realizing they were the victims of a pump-and-dump orchestrated by other WSB members.

It's at $330 now...

[typhoon44]

And yet a lot of the WSB members are still holding onto Gamestop, hoping and praying that it goes back to $300... still not realizing they were the victims of a pump-and-dump orchestrated by other WSB members.

It's at $330 now...

Who are the evil capitalists the WSBers are going after now?

[Gilchy]

Who are the evil capitalists the WSBers are going after now?

The Greater Fool. Someone is buying at this price, poor souls.

[Sparki55]

And yet a lot of the WSB members are still holding onto Gamestop, hoping and praying that it goes back to $300... still not realizing they were the victims of a pump-and-dump orchestrated by other WSB members.

It's at $330 now...

Who are the evil capitalists the WSBers are going after now?

Doesn't matter. Proof in the pudding that investing is based on value perception, not value on paper. The stick it to Wallstreet capitalists was just a way to get people to get the stock moving. Now the stock has a valuation removed from "stick it to capitalists", it's just a stock people are sticking money into to make a buck.

[Gilchy]

Doesn't matter. Proof in the pudding that investing is based on value perception, not value on paper. The stick it to Wallstreet capitalists was just a way to get people to get the stock moving. Now the stock has a valuation removed from "stick it to capitalists", it's just a stock people are sticking money into to make a buck.

No matter how many times you say it, it doesn't change the fact that GME is speculative gambling, not investing.

Gamestop opened the day at $269, rose to $346. And then it dropped to $172 in less than a half hour. It's back up a bit now, but there is no "perceived value" there, it's redditors thinking they're still causing a short squeeze.

[Sparki55]

No matter how many times you say it, it doesn't change the fact that GME is speculative gambling, not investing.

Gamestop opened the day at $269, rose to $346. And then it dropped to $172 in less than a half hour. It's back up a bit now, but there is no "perceived value" there, it's redditors thinking they're still causing a short squeeze.

Investing:
expend money with the expectation of achieving a profit or material result by putting it into financial plans, shares, or property, or by using it to develop a commercial venture.

https://www.google.com/search?q=define+ ... e&ie=UTF-8

Seems to me it fits the definition of investing. No different than "investing" in a new innovation company with an R&D idea.

Investing is gambling in a sense. The main difference is everyone can win in investing and most stocks go up in the long term. As long as you don't accept a loss and cash out, chances are with time your investment will become profitable again.

Try and value the price of the top 25 S&P 500 companies. Complete the same analysis on all of them and you will come up with prices that don't match the price of the stock.

News and media sway the prices of everything. Elon Musk just needs to make one tweet and the markets swing - not based on principle evaluation.

Investing used to scare me and I stayed away when I was younger because people told me I didn't know enough, needed to do a huge in-depth analysis of every stock I buy, etc. I know this was terrible advice. I make more YoY than my old man with his 30-year experience "financial investor advisor". It's been 6 years of investing now for me and I've yet to lose my shirt as I was warned.

So I post here with my opinions on GME not because I think anyone should buy GME but rather because stock investing isn't tied to fundamentals as closely as many would like you to believe.

[Vacancyrate]

House prices rose in Canada 18% with 0% wage growth this year. I'm really getting a laugh from the people arguing (in Canada mind you) that a stock is overvalued and suggesting that buying it is gambling while at the same time trying to explain why a three-bedroom bungalow in Oshawa is selling for 1.2 million dollars, $200,000 over asking price and saying it is not overvalued and not gambling-esque.

It's a giant asset pump. There is no free market. There are no fundamentals. Full stop.

[seewood]

Investing is gambling in a sense. The main difference is everyone can win in investing and most stocks go up in the long term. As long as you don't accept a loss and cash out, chances are with time your investment will become profitable again.

You forgot about Bombardier.. I'll be in diapers and using a walker before I expect that company to get anywhere near the $4.50/share I bought at. Positive aspect is I don't have many shares.
Older and retired now, I have very few speculative stocks, probably 80% or more are dividend providing companies.

Thought about keeping the industrial property I had and leasing it out, but I saw a few industrial properties in the area have a revolving door of tenants. Didn't want to deal with that not living in the town so sold it.

[Sparki55]

If the stock goes back to $40 next week will you admit it's a failure?

Nope, still above $200.

Gonna admit it was successful in sticking it to hedge funds and people made money on it yet?

Investing is only guessing what other people will pay for an asset under the guise that we all base the price on some metrics of a company.

[typhoon44]

If the stock goes back to $40 next week will you admit it's a failure?

Nope, still above $200.

Gonna admit it was successful in sticking it to hedge funds and people made money on it yet?

Investing is only guessing what other people will pay for an asset under the guise that we all base the price on some metrics of a company.

Of course not. The hedge funds made money every time it went up and down.
It did drop from $184 down to $99 within a few days, but I'll admit I have no idea why it stayed up. This is exactly why I didn't bet for or against it. This story has absolutely nothing to do with investing and everything to do with gambling.
Certainly some folks made money but the people buying at each peak and selling after it plummeted likely lost all their stimulus shekels.

Even weirder is that GME stayed escalated long enough to be added to the Russell 1000 so real ETFs now have to buy and hold it. It will make it harder for the WSB crowd to move the price around so at some point the price will have to reflect actual business.