KneesUp
Guru
I've just seen this story on the BBC about Gamestop - it's shares were massively shorted (traders betting on them falling in value) but that hasn't happened and now there seems not enought actual shares available for shorters to exit their positions. Meaning they have to buy, but those holding the shares don't have to sell, so the price is going up further and further. It's apparently over 100% shorted meaning some shares will have to be bought more than once - so no-one really seems to know where the price will peak, or what the endgame will be. I think that's right - it's how I understand it anyway. It seems to being pitted as an era-defining moment where David gets one over on Goliath.
It's a battle between Wall Street pros and upstart investors using social media platforms like Reddit. And at the moment, the upstarts have the upper hand.
At the centre of the tussle is a US video games bricks and mortar retailer called Gamestop, arguably something of a relic in a world moving online.
Shares in the business rocketed again on Wednesday, up 116% at the start of trading in New York. That's on top of a 92% jump on Tuesday, and takes gains in the last week well above 300%.
https://www.bbc.co.uk/news/business-55817918
A good time to buy shares was last week, but looking on reddit, people are still buying them and still holding them and still maintaining that any price that is under $1000 is a bargain. Just wondered if anyone had any thoughts (or shares they want to sell me cheap!)
It's a battle between Wall Street pros and upstart investors using social media platforms like Reddit. And at the moment, the upstarts have the upper hand.
At the centre of the tussle is a US video games bricks and mortar retailer called Gamestop, arguably something of a relic in a world moving online.
Shares in the business rocketed again on Wednesday, up 116% at the start of trading in New York. That's on top of a 92% jump on Tuesday, and takes gains in the last week well above 300%.
https://www.bbc.co.uk/news/business-55817918
A good time to buy shares was last week, but looking on reddit, people are still buying them and still holding them and still maintaining that any price that is under $1000 is a bargain. Just wondered if anyone had any thoughts (or shares they want to sell me cheap!)