Too much fun. Wow.

GameStop is in the business of selling shrink-wrapped video games on the high street. Demand, however, has slumped with gamers deserting shopping malls and turning to digital downloads. Revenues fell by 30pc in the last quarter and the company lost $19m (£13.6m).

Despite this, shares have surged from less than $4 last year to more than $380 on Wednesday, a rise of more than 7,000pc.

It’s going to crash, of course it is. And yet it’s just so fun, isn’t it?

12 thoughts on “Too much fun. Wow.”

  1. It’s a victory for ordinary people, stuck at home and laid off, over scumbag institutional short sellers, who’ve even had the nerve to run off to the government screaming about how they have lost their money. Apparently it’s all the fault of Russia/China/North Korea/Iran, and can we please have our money back via a bailout?

    They have shorted over 100% of the available stock. It is now a seller’s market.

    This piece about Wall Street Bets is relevant
    https://www.youtube.com/watch?v=jg85H26wyLk&t

    and this guy:
    #https://www.youtube.com/watch?v=4EUbJcGoYQ4

  2. I seem to recall that Kennedy senior decided to get out of the market when he got unsolicited stock tips from a shoe shine boy. Thus evading a stick market crash.
    Perhaps the message here is similar?

  3. So Much For Subtlety

    In a genuine free market, markets go up and markets go down. If you bet wrong you are going to be screwed. It cannot be that those with friends always win – with the tax payers stepping in if they do not.

    The question is whether there is some sort of crime being committed. If a group of people get together to drive up or down a price, are they conspiring? They may find the government thinks so.

  4. Bloke in China (Germany province)

    SMFS,

    Wrong.

    Free market means big business friends of the government get to take all the money. For free. That’s why it’s called free market. Free money for marketeers that do as the government says.

    Not closing down small businesses, not locking down populations indefinitely, not fining people for drinking a coffee outdoors, that is fascism.

    Get your facts straight.

  5. Truth right here:

    It’s easy to spot an authentic populist movement.

    1) Not funded by Wall Street.
    2) Big Tech censors it.
    3) Ruling Class accuses the participants in the movement of “foreign interference” & “racism.”

    https://twitter.com/ColumbiaBugle/status/1354646532851523584

    More here:

    You really thought “Hate Speech” was about protecting the vulnerable didn’t you?

    It was always about protecting the rich.”

    https://twitter.com/alexfeinberg1/status/1354580157466460160

  6. If a group of people get together to drive up or down a price, are they conspiring?

    You would think this applies to hedge funds with a 136% short, but apparently not.

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