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Thread: Money

  1. #861
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    Likely due to cosmic justice my entire portfolio is down today. Apparently Rule #2 of the Inverse Drewbie is don't mock the Drewbie.

  2. #862
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    My Pot Pot hasn't rebounded yet, but Kevin Smith started making jokes about legal weed in New Jersey so I put more money in the Pot Pot.

    Follow me for more sound investing advice!

  3. #863
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    So I bought into GME on 2/18 with 20 @ $48.50. Then DFV testified to congress and I watched the price slide slowly down. DFV even mentioned that back when he started all this the thought GME should be around $25 which had me worried I was going to go down 50%. It didn't drop that bad, but the price did bounce around in the low $40s for a couple days. Then some things happened. DFV bought 50,000 more shares, Conan tweeted that he was caving and going to finally buy in, and GME's CFO "resigned." All this resulted in the price jumping today and closing at $91.71. In after hours it has been hovering around $150 - 160. This is some wacky shit.

    Ultimately, I have no idea how to value a stock anymore. The idea that stocks represent the financial valuation of a company in this ultra-low interest environment is laughable. The current price of GME is internet hype, short squeeze, and legitimate potential to transition to a profitable business with the right people at the helm. I think the Chewy Guy is one of the right people to have at the helm, and my reasoning is super technical and advanced: I buy damn near everything on Amazon, but my pet stuff I get from Chewy. If Chewy Guy can get GameStop to be where people go for Game Stuff just like Chewy is for Pet Stuff, GME could be huge.

    Is GME the next money printing stock like TSLA? I doubt it. Does $150/share accurately represent the valuation of GME? Of course fucking not. Stock valuation is total bullshit when stocks are the only avenue for growth in ultra-low interest rates. Am I going to put in a LIMIT SELL order at a nonsense price to cover my initial investment by selling 1 share? Of course. Who knows, maybe the squeeze will squoze and I'll actually make some quick money on this.

    Ultimately, I do think that a buy and hold on GME at ~$48.50 is a good play. Maybe some day I'll be able to tell my grandkids about how the mega gaming conglomerate GameStop was once a shitty mall-based game re-seller, but some dude who sold cat food took an interest in it so I bought some of the stock. Then they'll laugh at senile old gramps and his tall tales of walking up hill both ways to school, cats, and malls.

  4. #864
    Darth Small Macheath's Avatar
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    Man, I'm so unspeakably tired of the internet's breathless analysis of this garbage stock. No offense to you. It's just getting old. I lost money on GME because I bought into retarded hype, and I regret it real hard.

    Then again, I've lost money on literally everything I've tried in the past six months. I'm built different. I need to stay away.

  5. #865
    Tiny Dancer Drewbie's Avatar
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    I got out this afternoon when it came back down. I paper handed it, but got out up about $6 a share. I'm regretting it, but also a bit relieved. I dunno. I should just go back and buy a couple for the adventure.

  6. #866
    Tiny Dancer Drewbie's Avatar
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    Thanks Tay Zonday and special guest Lindsey Sterling!


  7. #867
    Tiny Dancer Drewbie's Avatar
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    Gotten lucky a bit this week.

    Bought 7 contracts of X (US Steel) on March 4th for .99/each just before it jumped and I was able to sell them yesterday (March 8th) for $2.50 each. $693 into $1750
    Bought 10 contracts of NIO on March 8th for $1/each and today it spiked. Currently worth $1.71/each (up $710 at the moment).

    Also have 20 shares of GME as I bought back in at $118 and it's currently around $240 so up $2400 or so.

    Very lucky, but never for enough to get a massive payday. Might remove my limit sell on the NIO calls that I have in place for $2, but bit scared there.

    Overall, I'm up 130% in the past week.

  8. #868
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    That's awesome! I feel like these posts should be in a thread called "Rolling Dice" or something more gambling themed.

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