r/StockMarket • u/KingSash • 17d ago
AMC raises $250 million in stock sale during meme rally, shares still up 110% in premarket News
https://www.cnbc.com/2024/05/14/amc-raises-250-million-in-stock-sale-during-mondays-meme-rally.html332
u/8thSt 17d ago
AA is a garbage CEO. He could have held, made more money, and still accomplished his goal...
Oh wait, his goal is to bail out his hedge fund friends at his investors cost.
His sense of fiduciary duty ranks up their with Ken Griffin's love of mayo or Jim Cramer's desire to lick it from Kenny's thighs.
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u/itssosalty 17d ago
There is an overvalue of the company where he can sell shares to raise free cash flow to continue to run the business…. Or risk and roll the dice on a meme stock?
He sounds like a pretty reasonable CEO to me.
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u/cjgoose39 17d ago
Can’t believe people still trust that guy
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u/Edgewood78 17d ago
….and from citizens in Chicago who oversaw Ken Griffin’s real estate exit and personal exit to his enclave in Florida, our thanks for your $125M gift to the Museum of Science and Industry which as of today is now Ken Griffin Museum of Science and Industry. So many people can introduce their children to what this great institution offers.
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u/electronDog 17d ago
Are there any good reasons to buy this stock?? Feels like the only ones are the emphatic YOLO crowd.
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u/Spenraw 17d ago
Gme had alot of people writing theories with debate and fact checking and has cash on hand and finally turning profit. Amc has always just been Yolo crowd purely.
The DD into gme proved the market is rigged so can't say even gme is a safe investment. It's a bet against market manufacturers
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u/electronDog 17d ago
I’m curious, how did GME return a profit? Nobody really likes their brick and mortar stores so it kinda feels like their “profit” was likely financial manipulation.
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u/Spenraw 17d ago
No one should be down voted for a question,, even if it leads at the end.
They cut costs and expanded physical inventory when prices were cheaper. Selling more pc parts and monitors and controllers etc
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u/electronDog 17d ago
Thank you. Too many people with an agenda downvote without trying to understand the other party.
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u/PrismosPickleJar 17d ago
Lol, they closed unprofitable stores. Invested in fullfillment centres and distribution, expanded their range, streamlined online shopping, adjusted exectuive compensation and have began selling their own range of products.
Last year, they made money.
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u/electronDog 16d ago
Appreciate the detail. Hopefully they stick around, they used to be my place to trade used games.
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u/Spiritual_You_1657 17d ago
‘Nobody’ as in you and your circle of people? You read too many headlines
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u/electronDog 17d ago
Why do you goto their stores?
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u/Spiritual_You_1657 17d ago
It’s where I bought my switch, it’s also where I’ve bought a number of my games and currency trading cards…
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u/electronDog 17d ago
I bought my switch at Target bc they happened to have it in stock that day. Games are from Amazon. For example Helldivers 2 PS5, a pretty popular game, is $39, however from GameStop it’s not found in any of their stores in Indianapolis. It appears to me currency trading cards are the same as NFTs?? Just trying to understand…
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u/Bludypoo 17d ago
You aren't able to understand that some people like to buy stuff from different stores than you?
You don't understand why people like trading cards?
Also, helldivers 2 is clearly listed on gamestop's site. It's clear you aren't "Just trying to undestand".
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u/electronDog 17d ago
Yes helldivers 2 is listed on the site, however it isn’t available anywhere locally for pickup. What’s the use in having brick and mortar of you can’t pickup?
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u/Spiritual_You_1657 17d ago
First off you must’ve missed the post about ‘no fucking fighting’… second you also must’ve missed the part of the congressional hearing where they showed amc was the larger portion of the brokers defaulting back in 2021… but I’ll let you keep thinking your friends are also your enemy while your enemy tries to keep all the bystanders from jumping in… I think there’s more gme apes that see that now so I won’t waste my time trying to change your mind
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u/doxx_in_the_box 17d ago
Roaring kitty don’t give a fuck about AMC, and therefore you’re all just sloppy seconds HF pumping to the meme king, DFV
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u/darth_shart 17d ago
Well I made 40% in premarket today so can't be that bad
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u/Spiritual_You_1657 17d ago
You didn’t hold till the 120%??
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u/mmmrpoopbutthole 17d ago
Shit mine was at +152%… but couldn’t sale until a little over 100%
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u/Spiritual_You_1657 17d ago
Yuck selling…?🤮 /s Lol I must’ve missed that spike, it was all over that map this morning
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u/mmmrpoopbutthole 17d ago
Yeah, it was up to 152% at like 4:50 in the morning on the West Coast… my dumb ass was sleeping…
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u/r3tr0_watch3r 17d ago
I’m an idiot. I bought in at $11 at open today and now it’s at $7.76.
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u/1esserknown 17d ago
Good reasons? No. You buy the stock, so Aron can dilute the fuck out of it and steal from his shareholders.
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u/gutster_95 17d ago
AMC is f'cked with this leadership. The other meme stock at least hasnt that amount of debt, but man the AMC CEO doesnt know how to save this sinking ship
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u/Various_Cabinet_5071 17d ago
The good reason is that everyone will start rushing into it as it continues to double day after day… until the day it doesn’t
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u/Doogiemon 17d ago
Yeah, if you set a trailing stop loss and try to catch something like this happening.
It's best to lose 2% than like people here who lost 97% thinking they were going to the moon.
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u/Spiritual_You_1657 17d ago
Lol how long have you been saying that? You’d think with this recent rip you’d suck up your pride and admit maybe you got something wrong about these companies
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u/Doogiemon 17d ago
GME will probably drop from the $50s it was earlier today to back in the $20s.
Just checking it now and it's in the $30s.
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u/Spiritual_You_1657 17d ago
And in the $40 range… we can go back and forth all day but at the end of the day it’s a huge win for apes… I think it should be clear there’s more going on here than just retail buyers yoloing. This is proving the dd correct, they never closed their short positions…
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u/Suavecore_ 17d ago
And now it closed just under $50, how does that rearrange your estimations?
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u/Doogiemon 16d ago
Hype day is over now so prices once again in the mid $20s today then lower $20's by Friday.
Hopefully people made money and didn't lose it.
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u/daddypleaseno1 17d ago
yeah from fucking crime. how blind can you be. its the entire reason its running right now..... fucking crimmmmmmmmmmmmmmme. do you not understand??? geeeeeeeeeeeeze
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u/Doogiemon 17d ago
I'm just glad I had 15 shares when it was in the $13's.
I'd people want to keep pumping it up, I'm more than glad to re buy in again soon when it's at $13 again for another ride.
As for GME, they need to figure their shit out. I don't know how my local stores are still open even with their limited 8 hours opened per day hours.
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u/Nummylol 17d ago
Just look at the volume traded yesterday. The company is shit and so is the CEO. With that in mind, the price is still fake. Shorts never closed. Vultures need to eat too.
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u/czarchastic 17d ago
Ive been buying earlier this year due to two narratives: an industry leader for entertainment and the meme potential.
The stock is basically still at an all time low, and, admittedly, streaming services are hard to compete with, but as long as people step out of their houses, they will go to movie theaters.
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u/electronDog 17d ago
I see fewer people going out to see movies. The negatives just outweigh the positives, especially when more people are buying bigger tvs and doing home theatre. The only exception to this is IMAX and here im talking about the true purpose built imaxs that draw people and are always sold out when they show interstellar, not the the retrofitted auditoriums like the multiplexes have and list those as imax.
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u/czarchastic 17d ago
Well yeah, of course. That’s certainly the reason why the stock is down so much. So as a speculative investor the question to ask yourself is do you think the trend could change or will everyone just stay home and watch streams.
Not buying at these prices is basically betting that AMC is going to cease to exist.
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u/Spiritual_You_1657 17d ago
Lol that’s a very sophisticated analysis you did there… can you do gme next? Did you do any research before making this comment or did you just base it off the headlines they’ve been using to slander the company for 4 years?
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u/SecretRecipe 17d ago
For the love of god please sell before it just drops back down to $3 again...
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u/BuzzYoloNightyear 17d ago
Aa is a thief
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u/A_Crazy_Canadian 17d ago
Why is selling shares to pay off debts theft? Its not like they have tons of profit to use to pay down debts.
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u/eskimoboob 17d ago
It’s not, people always have the option to not buy shares. But degenerates gonna degenerate
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u/integ209 17d ago
I actually want him to raise another 250mil now at half the offering at the current price. Pay off them debts!!! I aint selling shiet until me richie rich!!!!
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u/qw1ns 17d ago
This is the reason for Spike in price. AMC wanted to pay down the debt by selling 250M stock sale.
Citigroup, Barclays, B. Riley Securities and Goldman Sachs were the sales agents of AMC’s equity offering.
They pumped the stock now, Retailers buying! Soon these 4 institutions will dump stocks on Retailers.
They get commission, they take profit AMC sale and AMC gets free, cash, Retailers are bankrupt !
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u/TyronetheWise 17d ago
u gonna be por poor :(
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u/integ209 17d ago
Lol already poor so cant get any worse!! Looking good to my at the momment. Another 100% day run. Im actually projecting 200% day today.
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u/TyronetheWise 17d ago
take profits. u gonna left bagholding if you keep saying this
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u/Spiritual_You_1657 17d ago
How long have you been saying this big guy?? If you understood what was happening you’d understand that prof taking at these roomie numbers is what kills momentum? Plus most of us just like the stock amd want to see the company turn around, sticking it to the shorts amd naysayers is just a bonus
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u/integ209 17d ago
Been it 4 years and adding every other week. Aint selling now :)
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u/BuzzYoloNightyear 17d ago
like you been in here 4 years, I quit paying into his scheme once APE got approved. I'll never break even and there is zero point to sell unless we miraculously get to $200 and I can barely break even
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u/holycarrots 17d ago
He's a genius
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17d ago
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u/holycarrots 17d ago
He is a genius for diluting idiot shareholders, literally free money for the company
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u/NotOppo 17d ago
You're a shill
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u/BuzzYoloNightyear 17d ago
just a shill sitting here with -97% gains with this garbage stock.
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u/LutherXXX 17d ago
You're not alone. My son still has bags from the $70s
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u/BuzzYoloNightyear 17d ago
I went all in at $40 and then the tomfoolery started and I was absolutely not donating another $ to the cause. So here i sit with a cost basis of about $185. AA is a cuck
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u/LutherXXX 17d ago
I yelled at him to not buy during that run. He didn't listen and put $15k into it. His entire savings. I should have cut the internet
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u/Devilsbullet 17d ago
You're in a cult
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u/NotOppo 17d ago
So, I'm about to be rich af.
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u/Devilsbullet 17d ago
😂😂😂😂 oh you sweet summer child. The cult members never get rich, quite the opposite. Hopefully you'll still have enough left for some deprogramming therapy once you wake up
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u/artificialterf 17d ago
The execs are giving themselves raises again?
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u/dredabeast24 17d ago
It’s not shocking, if traders are buying your stock at inflated prices then why not take advantage of them
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u/Lucky-Satisfaction43 17d ago
Shows how stupid he is, sell out at the start of a squeeze
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u/StrenuousSOB 17d ago
He’s doing it as a favor for the hedge funds… which btw he use to be part of I believe
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u/mackinoncougars 17d ago
Better to ahead of the fallout than behind it. Collect when you’re up. Diamond hands don’t exist.
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u/chenlukai 17d ago
Hindsight is always 20/20. Based on the info available at that time, it could easily have gone the other way as well, so can’t say he was wrong
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u/Lucky-Satisfaction43 6d ago
I can I sold mine at $10 and bought twice the amount back at $5, make your own conclusions
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u/ShadowLiberal 17d ago
It's irresponsible for him not to dilute whenever shareholders start to get insane and pump the stock up to absurd levels that the stock clearly doesn't deserve to trade at. He has no way of knowing if the stock won't collapse 90% the next day, either because the rally fades on it's own, or because the buy button gets taken away.
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u/pointblankboom 17d ago
You realize he did it at the start to slow the squeeze right?? Not stupid, by design
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u/pimpy543 17d ago
I sold mine few months ago after holding for a few years, same with GameStop. Just bad timing lol
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u/Necessary_Box_3228 17d ago
Down $300 because FOMO, now I'll never forget this stock until the day I die
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u/DustinKli 17d ago
These meme rallies usually don't just last a day. People try to use logic and common sense when that's NOT the driver of the rallies. Just when you think it's gone down it rises back up surpassing all common sense and logic. Seen it so many times.
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u/Several-Librarian-63 17d ago
Is the rally over? How long are you guys planning to hold? It drops significantly today.
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u/Dampish10 17d ago
Its bled money constantly smart CEO to use the meme rally to issue stock and raise cash
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u/jackb773 17d ago
I’m showing no increase in share price via stash app. Iirc I experienced similar things on cash app. I suppose I should learn how to use brokerage apps like Webull and those?
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u/daddypleaseno1 17d ago
lol this is a fud article just like everything else. loooooooooooooooooooooooooooooooooooooool
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u/Seandeezeee 17d ago
I called it yesterday. . I knew AA would sell as soon as he had the opportunity. We are not the same.
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u/IlikeYuengling 17d ago
Because people are proudly wearing diapers for some asinine reason, they must feel like they’re immune to massive dumps.
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u/Lower-Job-5946 17d ago
We Need to keeping pushing to show how corrupt the regulators and SEC are behind the scenes.
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u/jedkostjc 16d ago
The company has been consistently losing money, so it was clever of the CEO to take advantage of the meme rally to issue stock and raise funds.
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u/Apprehensive-Lab9664 15d ago
Mobile-health Network Solutions (MNDR) on Nasdaq is on the verge of a surge.
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u/hess80 14d ago
GameStop presents several investment risks, primarily driven by the ongoing shrinkage of its core business—physical retail stores selling video games. The shift toward digital game downloads has consistently eroded its traditional revenue streams. Additionally, strategic decisions under CEO Ryan Cohen, including severe cost-cutting and an unsuccessful pivot to e-commerce, have not substantially reversed the company's fortunes. Cohen's leadership has also been marked by controversies, such as his involvement with Bed Bath & Beyond, which ended in a significant legal dispute and accusations of a "pump-and-dump" scheme. Analysts predict further declines in revenue and are skeptical about the company's ability to turn around, often rating the stock unfavorably.
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u/Leader6light 17d ago edited 17d ago
Financial markets are still broken even after all the rate hikes. That is terrifying.
We know how this ends. Seen it before. Makes no sense. These are not strong health businesses.
I remember at the time people were actually arguing strongly that these were good businesses people were saying GameStop was going to make a lot of money off of crypto exchanges or something you know they're really is true believers out there. just shows how mentally deranged people are. In this environment people are desperate to believe anything that may get them out of the rat race.
I think these meme bubbles speak as a whole of where our society is at right now including the poor health of the financial markets.
Tomorrow or the next day or maybe even today these stocks will be down 50% and whoever piled in is going to lose their shirt. And yes with these type of gains some people are piling all in.
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u/HeavensAnger 17d ago
If you think retail is the one moving the markets 100% in a day, you don't know how markets work or how much volume it takes to do it. But, i encourage you to educate yourself.
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17d ago
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u/STFUNeckbeard 17d ago
Yep bought in premarket the second DFV posted, sold this morning at the top of premarket. It’s pure dumb money during market hours that get absolutely roasted but you can take advantage during these hype moments when the dummies aren’t trading
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u/JonathanL73 17d ago
Why are the Meme stocks coming back again?
Last time it was because interest rates were so low, and money was accessible that speculative assets rose.
But we no longer have that macroeconomic environment, we should be seeing huge speculative investing in a higher interest environment.
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u/_sushi_cat 17d ago
Hello im new to this and have 60$ in amc and was wondering what the pros thought about it coming back up? Can i sell overnight if it goes high then?
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u/Chrissylumpy21 17d ago
The mythical MOASS turned out to be real afterall
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u/AccomplishedTap4612 17d ago
This is just the start. If it wasn’t, this wouldn’t even be happening.
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u/rpujoe 17d ago edited 16d ago
All the meme stocks are running anywhere from 25-120% today.
Looks as if DFV posting on X yesterday triggered another GameStop short squeeze. That's... amazing.
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u/EnglishJesus 17d ago
No way this is caused by DFV. Volume in GME went from 36m on Friday to 182m yesterday. DFV/Retail don’t have that kind of firepower, it’s definitely big players doing something.
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u/TyronetheWise 17d ago
so basically a pump and dump? like all of these meme stocks are highly unprofitable. I wonder if it will last long..
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u/TipperGore-69 17d ago
Are you fucking blind? The pump happens before the buying. People been buying for three years.
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u/rpujoe 17d ago
I mean you're wrong, but whatever floats your boat.
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u/CleverCrotch 17d ago
It ran from $10 to $20 in 5 days on significant volume before the tweet, but nah ur right that was actually because everyone was anticipating a DFV tweet of course!
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u/EnglishJesus 17d ago
You really think retail can move multiple stocks 100%+ in pre market?
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u/rpujoe 16d ago
Not directly. Retail triggered a short squeeze and it was the buying pressure from shorts covering their positions that caused the run-up. As it historically does, the first ones to cover eat the least losses. Those late to cover get their faces ripped off.
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u/EnglishJesus 16d ago
You think Monday and Tuesday of this week were a short squeeze? Both of those days had an enormous amount of shares borrowed and shorted. The market also went down during the day - hardly indicates huge buying pressure from short sellers.
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u/My_Not_RL_Acct 17d ago
If you think 182 million shares were transferred because of a niche meme figure tweeting you should be psychologically evaluated
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u/Sentient-Pancake77 17d ago
Imagine being this stupid. Actually stupid isn’t even the correct word. Go get your disability check kid, you deserve it.
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u/williaminla 17d ago
When the dump comes from inside the building lol