The price drop is because of market manipulation and the current price doesn’t represent fundamentals. We all know GME is worth more.
But the price has been gradually decreasing ever since the January 2021 sneeze and this thread over at SS suggests the line reaches 0 around 1/1/2024.
I don’t think it will actually hit 0 but I know I’m going to be buying more in November and December.
Point is don’t let this rattle you. I bought my first share at $448.30 so why wouldn’t I buy more at $1?
The finish line isn’t out of reach any more. We’re going to lock the float, and we’re going to do it fast. Buckle your seatbelts.
– Me, addressing how the vaaaaaaaaaaaaaaaaaaaaast majority of stocks being sorta-kinda owned does not matter. It makes no difference. That’s not why people trade stocks or “trade” “stocks.”
This obsession with pieces of paper is magical thinking. Congratulations on really really owning a tiny slice of a company that’s losing value. It’s still losing value. It’s going to continue losing value. Not one soul in this thread has any defensible expectations to the contrary, as evidenced by most of them mumbling that they don’t expect it and the other half staunchly insisting that nuh-uh.
You’re not going to impact the evils of late capitalism by chasing after finance-bro meme stocks.
I should not have to say that in as many words. But here we are.
Your stated goals are admirable. They don’t justify this nonsense.
It does matter. What? It most certainly does matter and you pounding the table doesn’t make it “not matter.”
I’ve seen people reply in this thread the related financials of the company.
There are more directly registered shares of Gamestop (GME) than any other company in the entire history of the stock market - more than Amazon, Apple, and Microsoft combined.
That equates to more than $2 Billion / ~1/3 of the company safely locked away in investors’ own names, out of brokerage, market-maker, & hedge fund collaboration, safe from potential brokerage bankruptcy, while disrupting off-exchange & dark pool abuse, mitigating Failure-to-Deliver abuse, and other similar confidence tricks, deception, derivative-based backstabbing, and basic short selling.
As such, it’s created a once-in-market-history dynamic around the phantom-counterfeit-shares-hedge-fund-abuse-household-investor ecosystem.
We’re talking about a company that is cash flow positive (Free Cash Flow; FCF), no long term debt, ~$1B in cash/treasuries and another ~$1B inventory, moving into the “digital property rights” space, which has been missing from the internet since it was invented – all lead by a team assembled via a 30-something billionaire entrepreneur who took Amazon to the cleaners with Chewy. A company trading at less than 2X assets alone, while currently undervalued by Morningstar where insiders are buying far, far, far more than selling.
Yeah, because only you think it’s important. It’s so central to this cult belief system, it’s in the fucking instance name. Congratulations on making a big deal out of it - now please spend literally any effort explaining why I’d give a shit.
None of the money “safely locked away” exists, if the company goes under. You hold in your hands a tiny sliver of a retail chain in a market that might entirely cease to exist, and your expectation of wild growth is rooted in something that sounds like NFT garbage. Or at best, trying to bring back their classic skeezy revenue stream, buying used games for a pittance and selling them for near retail price. Which is one of those things that obviously will not go well for a centralized middleman service… if words like “decentralized” are anything but empty marketing lies.
[you can ignore this “[email protected]”]
To all other readers: in interest of other viewers/readers and posterity and clarity, see a response to this line of table pounding here.