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Author Topic: Gamestop: 'Failing' firm soars in value as amateurs buy stock  (Read 706 times)

Nearly Sane

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Gamestop: 'Failing' firm soars in value as amateurs buy stock
« on: January 27, 2021, 10:40:54 PM »
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ProfessorDavey

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Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
« Reply #1 on: January 28, 2021, 09:18:51 AM »
Quote from: Nearly Sane on January 27, 2021, 10:40:54 PM
This is a fascinating story


https://www.bbc.co.uk/news/business-55817918
Yes it is.

My son has made some money on this (at least in % terms) - turned £10 into £175.

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Nearly Sane

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Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
« Reply #2 on: January 28, 2021, 09:36:07 AM »
Quote from: ProfessorDavey on January 28, 2021, 09:18:51 AM
Yes it is.

My son has made some money on this (at least in % terms) - turned £10 into £175.
It will be interesting to see where it goes next. I would think as the news spreads and people see this as a quick way to to make money devoid of any of the theoretical moral position and shortselling then there will a bubble.
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Nearly Sane

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Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
« Reply #3 on: January 28, 2021, 02:29:30 PM »
So it would appear that Robinhood has stopped Gamestop being traded. Hmmm...
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Nearly Sane

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Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
« Reply #4 on: January 28, 2021, 08:24:06 PM »
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jeremyp

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Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
« Reply #5 on: January 29, 2021, 11:28:23 AM »
The trouble is that it is a pump and dump scheme. You buy stock hoping to push the price up so you can sell to some other sucker at a high price and the other sucker is left holding a stock they can't sell. The fact that, on this occasion, the people in on the scheme are hoping the other sucker is going to be a hedge fund trying to cover a short position, doesn't stop it from being a pump and dump.
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Nearly Sane

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Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
« Reply #6 on: January 29, 2021, 01:07:50 PM »
I see Robinhood amongst others have been accused of 'gamifying' the system of share trading. I wonder wherever they could have gotten that idea from....


https://www.bbc.co.uk/news/business-55842994
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Nearly Sane

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Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
« Reply #7 on: January 29, 2021, 01:54:19 PM »
Some confusion over Robinhood v Robin Hood


https://www.bbc.co.uk/news/uk-england-nottinghamshire-55849192
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Nearly Sane

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Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
« Reply #8 on: January 29, 2021, 04:33:04 PM »
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Nearly Sane

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Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
« Reply #9 on: February 01, 2021, 09:31:24 AM »
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