Quote:
Originally Posted by Slava
I don't know that this is a short-squeeze though. Everyone knows that company needs money and insiders are selling their shares. It's definitely interesting to watch from the outside, and it's entertaining to me.
The underlying story with GME doesn't change though. It's retail business is dead; they're not getting people trading in games because people have no discs to trade in the first place. It's all online, and this is essentially Blockbuster all over again. Personally, I don't care because it's fun to watch. Some calls were up about 10,000% this morning and the shares were halted twice, I think. It's hilarious...even if it's not actually investing.
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Oh for sure. I tossed that term out a little too much. It's only up 17% today. The past couple legs have definitely been shorts covering, and each new leg just brings more shorts to the dance to drive the price back down, in addition to profit takers. I want to see that epic 100%+ squeeze, where margin calls are made. That'll be my exit queue, and i'm anticipating it'll come soon, into the $5 dollar range, and hopefully more.
Just the fact the the short float is massive, it will have it's day. GME/JCP/HTZ, they all took their time getting to where I thought they'd go, as more 'good' news comes out.
I didn't go massive into this, but I put enough in to it that this trade already has helped me to my 3 month goal inside 1 month.