benson
I agree with the tin foil hattery comment to an extent - however, I can’t see the fault in the logic - there’s enough people buying enough shares to buy the legal float and it’s having an effect - ignoring last nights jump due to BBBY announcing a share buy back, the share price has been slowly going up again and the lows are no where near as harsh as they have been. (Even if it was being manipulated, I think wall street have realised Reddit types will just buy more if the price falls). You have brokers refusing to allow GME shorting coming out the wood work and the interest rates on borrowing shares (which have been kept down for the last nine months to keep things in check) are finally starting to rise up making things harder for short hedge funds.
In total, from GME, I’ve made around 50 grand. (25 from the Jan surge and 25 from the jump when it went down to 40 and jumped back up afterwards.
On the flip side, I rather stupidly ‘diamond hands’ when I was right up again around June which would have made it about 80K.
You also have to take into account opportunities missed - I love the Apple 3x leveraged fund. I think it’s a license to print money - If my money hadn’t been in game stop, it would have been in that and ETH a lot more heavily and it would have made a bomb instead of sitting pretty stagnant for the last few months but live and learn.
I plan on bailing soon as I’m using my stocks and shares as a house deposit - as it happens I sold my fidelity Rockstar TTWO shares yesterday - I want to be on the train when Gamestops big project announcement is finally made as I think that will get wall street on board and it’ll be a nail in the coffin. If they do announce some sort of dividend, it’ll go nuclear again. Gamestop have a history of dividends, are debt free and cannot be oblivious to the shorting situation. People are claiming the price should be in the 700s based on fundamentals. With shorters desperate to close, it’ll go bananas.
So last roll of the dice for me I think - it’s been fun.
