Surely you aren't this naive?
The market is being manipulated and it's the small investors who will lose out. All jumping in like lemmings because they think they are 'beating the man'.
You might strike lucky, you might not, but make no mistake it is the rich who will be getting richer from this.
I don't think retail are heavily involved in the current volume.
Something else is going on.
You see "the market is being manipulated", YES YES they are, this is so very clear. Market Makers that are ALSO Hedge Funds where they operate in both areas at the same time - that's just wide open to abuse.
Then there's all the hidden naked shorts that are packaged and sold off as swaps* so that they all disappear into thin air.
*plus the "mega" swaps that last 3 years which all expired the other week, which was the cause of the recent leap in trading.
Its hugely complex, and there's no way anyone in retail understands more than a small amount of the reality.
FWIW, Price now up to $61 in early trading.
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And GME released their Q1 financials head of market opening. Revenue down a fair chunk compared to Q1 2034, but margin has improved from $-50m to $-32m. Its profitably annually, but not in Q1, so reducing the losses for a 2nd year in a row in this quarter is really good news overall.
Of course, the stock price has dropped from $60 to $40 on this news. 8m shares traded.
It'll be all those retail investors dumping their shares right?
Oh wait, no. Market isn't open, so retail have no access to trade! Just like the run in after hours from 40 to 60 last night can't have been retail either. None of this volatility is retail shareholders, it never was. Its always been the institutions scrambling to cover their arses and/or shorting the shit out of the stock.
Funny, this financial news was already officially released as "estimates" a few weeks back - and these results are pretty much exactly the same. So why is it causing the price to change? Its almost like there's dodgey shit going on eh?
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Ok, how much shit can go on in one day, all before trading even opens?
GME have announced a further 75m shares to be sold at the market. On top of the 45m it sold the other week.
That's a huge dilution, but still might not cover all the shorts. There's some crazy plays going on here.
But they'll have raised $5bn in cash if they sell those at $45 per share today. Which is just immense for a company that was "deffo going bust, let's short it to death" 3 years ago. Profitable and swimming in cash lol
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There's 630,000 people watching the Roaring Kitty livestream. Madness
