There are still many retail investors who think the saga is far from over, and are now betting on direct registration (DRS) of their GME shares with the goal of triggering another, much bigger short squeeze than last year.
I made a little money of it last year when the squeeze squoze, and I don't see it happening again.
I was late to get in, but not too late; the next morning, the price had doubled, so I sold half. I held on to the rest just to be along for the ride, but I think that morning was the real squeeze. I think I bought some extra on a dip, sold half of that for double again, and sold the rest on a minor bump a few months later.
Hectic stock like this can be an easy way to make a quick profit as long as you remember to buy the dips and sell at any bump that comes along. I bet that's what the big guys on Wallstreet did to make way bigger profits than I'll ever be able to.
> There are still many retail investors who think the saga is far from over
I had the misfortune to encounter one of these on reddit the other week. I asked (what I thought was) a fairly simple question - are people still in it because they think the company has a reasonable chance of turning around and making good money, or is this now an idealogical thing about sticking it to the man, or a bit of both?
And I basically got a full-on hard sell as a response, massive amounts of details about business plans and any reservations I expressed were due to me being stupid and/or biased.
It does seem like a good idea on paper, though when you look at the reports of how many people have actually DRSed their shares it becomes painfully obvious that it's so few that it isn't likely to ever make a difference.
What reports have you seen that show the actual numbers? Genuinely curious.
As far as I know, there is only one report that has been released--that was by Gamestop itself for the 3rd Quarter (Aug 1-Oct 30). That number was 5.2 Million.
Now, the DRS movement, for lack of a better term, did not start to take off until late August/Early September. IOW, DRSing shares has not been going on since last January.
The next quarterly results (Nov-Jan) will be released around the end of March and, assuming that Gamestop continues to release the DRS numbers, will provide 2 data points.
The last point I would like to make is that the total number of shares outstanding for Gamestop is only 76.5 Million. 12 Million of those shares are Insider shares. Even if you Ignore institutional holdings and individual investor shares held in brokerage accounts, 5.2 Million is 8% of 64.5 Million. I would say that is not an insignificant percentage, even if the DRS movement stagnated after October.
phphphphp|4 years ago
jsemrau|4 years ago
mixologic|4 years ago
shpx|4 years ago
mcv|4 years ago
I was late to get in, but not too late; the next morning, the price had doubled, so I sold half. I held on to the rest just to be along for the ride, but I think that morning was the real squeeze. I think I bought some extra on a dip, sold half of that for double again, and sold the rest on a minor bump a few months later.
Hectic stock like this can be an easy way to make a quick profit as long as you remember to buy the dips and sell at any bump that comes along. I bet that's what the big guys on Wallstreet did to make way bigger profits than I'll ever be able to.
danuker|4 years ago
As long as the dip is not permanent, say, due to a permanent change in the fundamentals. Then it might just keep dipping.
Nursie|4 years ago
I had the misfortune to encounter one of these on reddit the other week. I asked (what I thought was) a fairly simple question - are people still in it because they think the company has a reasonable chance of turning around and making good money, or is this now an idealogical thing about sticking it to the man, or a bit of both?
And I basically got a full-on hard sell as a response, massive amounts of details about business plans and any reservations I expressed were due to me being stupid and/or biased.
So that's me told.
Ocerge|4 years ago
moffkalast|4 years ago
rccb2002|4 years ago
Now, the DRS movement, for lack of a better term, did not start to take off until late August/Early September. IOW, DRSing shares has not been going on since last January.
The next quarterly results (Nov-Jan) will be released around the end of March and, assuming that Gamestop continues to release the DRS numbers, will provide 2 data points.
The last point I would like to make is that the total number of shares outstanding for Gamestop is only 76.5 Million. 12 Million of those shares are Insider shares. Even if you Ignore institutional holdings and individual investor shares held in brokerage accounts, 5.2 Million is 8% of 64.5 Million. I would say that is not an insignificant percentage, even if the DRS movement stagnated after October.