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OT: GameStop

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615dawg

615dawg

All-Conference
Jun 4, 2007
7,261
4,741
113
I held out $480k. CPA doesn't think it will be that much, but that's the safe amount. I'm boring. We may get a new car, which we have been talking about anyways.
 
horshack.sixpack

horshack.sixpack

All-American
Oct 30, 2012
12,063
9,292
113
did I miss the post where you tipped off the board to this great buy in November as required? If not, just DM me and I'll get you my Venmo.***
 
F

fishwater99

Freshman
Jun 4, 2007
14,073
54
48
615dawg said:
Because its been freaking nuts in my world this week.

But I was able to close my position at $432 a share this am. Truly an accidental millionaire. I had no idea what was going on with Reddit until very late. I bought in November thinking they would have a nice Christmas season with the Xbox and the PS5 both coming out. After the $600 stimulus was announced, I held for a little longer thinking that they would have another nice push when inventory returned. Then all this Reddit crap happened.
Click to expand...


lol
 
dorndawg

dorndawg

Heisman
Sep 10, 2012
9,325
10,597
113
Xenomorph said:
[TWEET]1354862517902827521[/TWEET]
Click to expand...


He should consider getting a side hustle and maybe cutting off his cable. What does he spend on Starbucks every week? He needs to man up and be responsible for for the debts he agreed to.
 
mstateglfr

mstateglfr

All-American
Feb 24, 2008
16,839
6,654
113
horshack.sixpack

horshack.sixpack

All-American
Oct 30, 2012
12,063
9,292
113
For certain the current ease of trading belies the risk of loss. Some folks don't know what they don't know.
 
horshack.sixpack

horshack.sixpack

All-American
Oct 30, 2012
12,063
9,292
113
I had a boss once converting thousands of $0.07 ISOs from IPO at roughly $75/share and he was complaining about taxes. I offered to take them off his hands, along with his taxes. Best I ever got was $15 ISOs and not in those quantities, and not mature when stock was at $75. I took a little profit at $28.
 
T

The Fatboy

Senior
Oct 18, 2005
2,782
744
83
Can someone explain what this is all about? Because I just don't full understand what shorting a stock is nor how this reddit group was able to stifle them or why they even would.

#explainlikeim5
 
kired

kired

All-Conference
Aug 22, 2008
7,117
2,484
113
Holy crap, if you sold at $432 that was near the absolute peak wasn't it? You timed that as good as you could - congrats. I sold my little bit yesterday around $350.
 
615dawg

615dawg

All-Conference
Jun 4, 2007
7,261
4,741
113
It sounds ridiculous because it is.

I made internet friends with a guy on Twitter that researches stocks with web search trends. He got me into a company that handles closeout sales with a store goes out of business early in the pandemic. I bought for $5, sold for $11 and sent him a thank you. He thought I had sold too quick (I did) and we went back and forth and he gave me a couple more stock tips. He sent me this chart on GME, showing what they had done when consoles were released.




So all this made sense to me, ride it through the holiday and see what happens. The talk of more stimulus kept me from selling, and I held through all the Reddit stuff until this morning. Its been crazy!
 
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Shmuley

Shmuley

Heisman
Mar 6, 2008
24,300
12,190
113
That's actually quite helpful, although the "short squeeze" segment with the haphazard blow through of margin calls left a lot to be desired. Understandable when one is trying to explain that **** in a 5 minute video.
 
615dawg

615dawg

All-Conference
Jun 4, 2007
7,261
4,741
113
It jumped up to $498 at one point. It was $450 in the premarket and I initiated the sell. I got in and the average was $431.86. I was so nervous and barely slept last night. I was up at 4 am just reading Twitter and watching the pre-market ticker for 4.5 hours.
 
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karlchilders.sixpack

karlchilders.sixpack

All-Conference
Jun 5, 2008
21,029
4,832
113
And further more,

this **** is up $70., after hours.

No PE ratio, which means they are not making a profit.

One year price projection is like $12.50

Let the 17'n continue.
 
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dawgstudent

dawgstudent

Heisman
Apr 15, 2003
40,435
21,897
113
This is a good explanation too. I have no idea about the stock market.

[TWEET]1354600999835607041[/TWEET]
 
J

johnson86-1

All-American
Aug 22, 2012
15,140
5,681
113
dorndawg said:
He should consider getting a side hustle and maybe cutting off his cable. What does he spend on Starbucks every week? He needs to man up and be responsible for for the debts he agreed to.
Click to expand...

This is really good advice if he's having trouble making ends meet. Might need to sell a jet and/or yacht first, but if that's not enough, then cable and starbucks should definitely be on the chopping block.
 
Negative Waves

Negative Waves

Junior
Aug 15, 2011
749
338
63
You are now officially one of the Cigar Boys. Now go buy us some recruits!!**

615dawg said:
Because its been freaking nuts in my world this week.

But I was able to close my position at $432 a share this am. Truly an accidental millionaire. I had no idea what was going on with Reddit until very late. I bought in November thinking they would have a nice Christmas season with the Xbox and the PS5 both coming out. After the $600 stimulus was announced, I held for a little longer thinking that they would have another nice push when inventory returned. Then all this Reddit crap happened.

Click to expand...

nm
 
615dawg

615dawg

All-Conference
Jun 4, 2007
7,261
4,741
113
Its not Cigar Boys money. After taxes, its going to be enough to pay off our mortgage and enjoy life a little more. Might splurge for the YETI over the RTIC next time.
 
J

johnson86-1

All-American
Aug 22, 2012
15,140
5,681
113
615dawg said:
Because its been freaking nuts in my world this week.

But I was able to close my position at $432 a share this am. Truly an accidental millionaire. I had no idea what was going on with Reddit until very late. I bought in November thinking they would have a nice Christmas season with the Xbox and the PS5 both coming out. After the $600 stimulus was announced, I held for a little longer thinking that they would have another nice push when inventory returned. Then all this Reddit crap happened.

Click to expand...

You know, if you had just waited 10 more months, you could have paid long term capital gains rates instead of short term capital gains rates. Really just ****** tax planning on your part.**
 
mstateglfr

mstateglfr

All-American
Feb 24, 2008
16,839
6,654
113
fishwater99 said:
I thought we had free markets here, this is total BS.
I told my trading buddies that I will go back to gambling on basketball and football, at least I will get paid if I win.
Click to expand...

We don't have free markets. This isn't a new thing, its been that way.
 
ababyatemydingo

ababyatemydingo

All-Conference
Nov 27, 2008
4,024
3,008
113
615dawg said:
Because its been freaking nuts in my world this week.

But I was able to close my position at $432 a share this am. Truly an accidental millionaire. I had no idea what was going on with Reddit until very late. I bought in November thinking they would have a nice Christmas season with the Xbox and the PS5 both coming out. After the $600 stimulus was announced, I held for a little longer thinking that they would have another nice push when inventory returned. Then all this Reddit crap happened.

Click to expand...


Let a brotha hold a dollar
 
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