Needles & Grooves

I said this in the stocks thread. Bought 2 shares monday at $92. Sold 1 today at 199. Letting the other ride to at least $250 so I can get one, two, and three from the vault.

@MikeH It is going to come crashing down but that's by design. this isn't an investment, it's a war until Friday with the short sellers

Right but Friday isn’t necessarily the end. WSB isn’t going to determine the stock price much. It’s all the other big stock holders like Blackrock who will. WSB folks can hold as long as they want. There may be a squeeze from short sellers but it may be before Friday and then it’s going to drop back to $20/share. I wouldn’t advise anybody to buy it at $148 but that’s just me...the ratios are out of control right now

@MikeH we just like the stock lol

It’s just funny to see it all happening but then not funny to see some people actually investing a lot of money in it (and losing a lot) because they don’t know what’s actually happening

Godspeed @bdm105 !

TL;DR it began w/ short sellers who want the price to go down or they lose money; it was picked up by WSB (~2M subscribers) who by buying it, screw the short seller & early adopters can squeeze a good profit (further propelled by Musk's tweeting).

At this point it may be time to neither get on nor off the rollercoaster (future money may be in shorting it now at this higher value)

@Lord Diaper Baby WSB aren’t the big investors despite what the memes and some outlets are saying. Short sellers are definitely the ones getting screwed though. They deserve it. There will be one more squeeze probably and then it’ll plummet to $20 or less after the short sellers have to deliver. Crazy to watch!

@MikeH Yes, it's definitely odd and exciting. The only time I've ever thought of Gamestop stock is anytime someone tells me they're using Robinhood and - don't know if they still do - were gifted GME

@Lord Diaper Baby the last thing you would want to do right now is short because 1) i think last I saw it would cost 83% to do so and 2) the whole mess right now is that it's overshorted and there literally isn't enough available stock to pay back.

@TheThinWhiteDuke Makes sense. I'm not touching any of this. I've got a good portfolio. While I'm hardly risk adverse, I wouldn't be comfortable doing anything but observing whatever this is

Thanks @MikeH It's all house money (hedge funds) at this point so worst case it crashes to under $75 and I still end up with something.

The interesting move is to potentially put a call option in for February similar to what people like Chamath Palihapitiya did but still too risky for my blood right now! I’m with @Lord Diaper Baby and staying far away at this point but carefully watching it haha

Fox called us the INVESTOR UNDERWORLD. lol thank god

@TheThinWhiteDuke Well, the underworld is classically associated with Chthonic gods, specifically Pluto, and wealth. So joke's on them!

It’s being set up to blame WSB when regular investors (AKA people like us, not hedge fund short sellers) lose large amounts of money when the stock crashes.

@MikeH @Lord Diaper Baby I just want to see Friday be amazing, then figure out twitter long enough to send Storf a screenshot of my gains and say im still not buying a one year sub

If you do that screenshot thing, please, please, please post it here.

I went in on BB... and let’s just say it hasn’t gone fantastic for me yet