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.
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If they drop it too low gamestop can simply buy the float themselves with cash on hand. Short sellers are screwed no matter what they do.
at $1 per share, the market cap would be about $300 million, far less than the amount of cash on hand that GameStop currently has, not to even speak of RC’s personal warchest and the ~ 200,000 DRS’d investors that would be scooping them up at that price.
Personally I don’t see how it would be possible for the price to go that low, but if it did I would be buying as many as I could.
We would lock the float very quickly.
I think Q3 is going to be profitable but I don’t think the price will rise after the earnings call. Instead I expect more BS from the MSM and the price will plummet in an attempt to break the ape’s hold on the stock.
They’re just digging their own grave. This trajectory isn’t sustainable. The rate of DRS is just going to skyrocket.
Why GameStop won’t buy back shares anywhere near these prices.
tldr: a share buyback is not needed and if the price of shares is inevitably going down then let the price get as low as possible, and only then a buyback would be a good move
I’m 100% DRS’d. Had some very pressing financial stuff - landlord evicted me after I had the audacity to request basic maintenance, and agreeing an egregious rent hike, but guess he realised he could just not renew and get more with a new tenant. I can’t afford to live where I’ve been for ~20 years on my own anymore unless I move into a bedsit somewhere grim. So, I also have all the expenses of a move across country; and am in the final stages of (hopefully) buying a house, with a mortgage of course.
My rambling point (I am getting there, promise) is, I’d probably have sold some of my shares by now if it weren’t for the fact the short & distort team has managed to drag the price down to what I feel is a massively-undervalued area. Money is going to be very tight for me moving forward, I’ve not bought more shares for a while, but damn I will be loading up as much as possible if they drop the price anywhere near 0.
They cannot beat us. They cannot cellarbox us. All they can do are pathetic misleading stories in their controlled outlets and the whole ‘buys to dark pool, sells to market’ game. If the price drops to $10 or below, there will be an absolute surge of buying.
Evicted but still hodling. 💎🖐️
I have somewhere to go, fortunately… some aren’t so lucky. Investing is never risk-free but I believe in the fundamentals of GME as a business, and prepared to hodl for as long as it takes.
I think the short-sellers greatly underestimated our collective resolve!
Some great engagement on this post. And it seems to have pulled in some outsiders. And spurred uncensored debate. I’m bullish on Lemmy.
If it drops below a certain level will it be removed from the Russell 100 ?
This is really beyond frustrating. If Q3 posts a profit then what do shorts do?
continues to drop , getting close to 10$
I bought my first share at $448.30 so why wouldn’t I buy more at $1?
Right? Why stop and realize that you buying in at the top is what made the price so high? Why consider people selling stock and taking their profit from idiots buying in and the company not showing the profit is making you the barely stable piece holding up this quickly dissolving Jenga tower? Why bother with complex reasoning and understanding of your role in this practically a pyramid scheme, of a stock support for a dying company?
Yeah the line is Def going to the moon and if stock markets implode there will definitely be your holy reward beyond the pearly mountain dew Gates in the form of money that will totally be given to you guys and worth epic lols amounts. It’s a shame we just can’t see it and us normies are false in our “rational” pleads to sanity.
Oh well I hope you space chimps have a great time up there and end up much better than Bonnie
What’s often misunderstood is that this isn’t about money for a lot of people. It’s about exposing widespread fraud, corruption, deception, manipulation, and the destruction of the livelihoods of countless people & families.
If my investment of $20 in one share of the stock that is DRSed equates to being one drop in the ocean that turns the tide, then that’s well-worth it to me, my progeny, and species - not to mention all other species on the planet. Even if the odds are against me/us, the odds/benefits far outweigh the drawbacks. I waste $20 on all sorts of bullshit and stuff - this may be another “waste,” but not necessarily for naught.
The vast, vast, vast, vaaaaaast majority of stocks not being truly owned by the people who think they own them (being held in brokerages andor 401ks; see: here, here, and here) equates to a “system” that is ripe and rife in fraud, deception, and manipulation.
The more people who understand that, the better chance there is we see a more equitable future for everyone and everything on the planet.
Oh my God what?
So yeah obviously you guys are all flower power and bragging about how this is for the merits and not the money while also your community brags about how much money they are super gonna make when this over. So I’m done believing the altruism on one hand and greedy on the other you guys have going.
But also wow if you really think this is gonna do something for the fraud inherent in the system. Thats not what is gonna happen and I’m sorry if I am the one that has to tell you that. This is a pyramid scheme where the only people winning are the ones that sell when the price goes up and GameStop which has a group of sycophants to help provide padding for their stock.
Maybe just maybe they use this to pivot and turn back into a profitable company and your stock purchases at least creep back up in value but that’s pretty much best case scenario.
Even if you manage to break the system and show the fraud and lay it bare… which You won’t… You won’t win this in a way that helps anyone. In fact you guys are just huffing on so much copium for any dopamine in a broken world. I can’t even be mad that you guys are hopeful because the world is a depressing place, but this will not be what solves that. And it won’t be for naught but help those you are upset at.
I wish you luck in realizing that and hope that no one else here is wasting more than they should.
Wow. Really laid bare here your know-it-all, future soothsaying, crystal ball, emotional, egotistical - biased and conditioned - nonsense.
clap Well done.
Edit: for anyone who’s been watching, the entire debacle has already brought about some major reform, while there is more on the table and being discussed now. Furthermore, more people than every are educated on some of the inner-workings and deception within the larger “stock market.” Additionally, there is a DoJ investigation into many of the associated hedge funds and organizations related to the issues.
And apparently I struck a nerve because now you aren’t bragging about all the good you are doing but getting defensive and just using insults. So, whatever. It doesn’t matter. And I hate that I care even at all what happens to other people.
If someone else is reading this and haven’t yet fully committed to this cult please understand that the system is a mess, and likely there is no simple way out of it, least of all buying a retailer store stock. It’s ok to be aware and it’s hard to optimistic after you are. But hiding away from reality and only accepting what is confirming to your idea of reality is not be brave and not going to be beneficial to anyone other than people that can take advantage of you.
Huh? You’re the only one here ranting and raving about what the future holds.
For anyone else reading who’s intellectually honest:
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.
Ook Ook!
price has been dropping steady since the split… so much copium in this community.
Our community has and will remain strong regardless of the price of any stock.
Hehehe. What is this community’s opinion of the Folding Ideas video?
It’s been posted and there’s been discussion around it.
You can see/read more:
https://lemmy.whynotdrs.org/post/266502
https://lemmy.whynotdrs.org/post/307966?scrollToComments=true
ya i know all about apes stronk, i just like the stonk. what can i say im a paper handed regard
You’ve got to make your own choices.
I think at this point it doesn’t need to be proven that price discovery is broken. You know it in your heart. The shit is rigged.
So knowing that, I chose not to let price action tell me how to judge whether anyone was right about their choices. The only people who get to find out if their strategies were correct or not are the insiders who influence the outcome.
I don’t hold a grudge against anyone who walked away. It takes a sort of hellish wildness to hold this long against such ceaseless bullshit. Society would collapse if everyone was as unreasonable as me.
But I think the world needs the crazy people it creates, also.
For me the continued approach to profitability is a huge sign the investment will be a success. The company can exceed estimates by a landslide and the price dips, so I just ignore the price and look at what’s happening. Ryan taking over tells me things weren’t going in a direction he approves of long term. The NFT marketplace is, as of now, an obvious flop (don’t know if it was/is profitable but it certainly is not panning out as planned) and I think it was a key disagreement between Ryan and Matt which lead to Matt being replaced by Ryan as CEO.
I don’t know. I still have a lot of thoughts about the failings of custodial ownership in games, and I think it’s a good idea whose rise has been hamstrung by bad press about the technology. People are complaining about corporations being bad custodians while still laughing about crypto scams using NFTs. Most people I see talking about it flatly assert that no possible good use for the tech exists, but it’s staring them in the face.
I think they haven’t given up but are looking for another ‘in’, via their partnership with Telos to make Playr. Time will tell.
The main benefit I would see to NFT mediated game ownership is restoration of ownership rights (reselling or sharing, owning without permission) and a broader change in the carrots and sticks for developers via the royalty. A game developer with access to the secondary market has much more incentive to invest in a slower development cycle that emphasizes quality and stability over what we see now in AAA games, which I see as mostly chasing industry trends and making bankable but creatively shallow games.
I think NFT has potential, don’t get me wrong. But the waters have been poisoned because the people invested in it put the cart before the horse. NFTs were sold because they were NFTs, not because the product was great. What would really be needed is either of these two:
- a good game which is sold as an NFT itself, no crypto transactions withing the game, just ownership.
- a set of games with overlapping tools which can be traded and shared via a crypto wallet. This is, imo, a lot harder to pull off and more something to do once the concept of NFTs as legitimate ownership structures has been established
Firmly agree. Point one is foundational, and the second can only come when that foundation is built.
You may be interested in a game called Hytopia, fwiw, when it comes to “web3” and gaming.
@Swim We’re holding for a financial system that is fair to everyone –– including you! 🫂
These hands were made to hold bags.
