Gamestop?

[Running_Man]

Revenge of the memes, returns this week...
AMC $AMC: +175%
Build-a-Bear $BBW: +65%
Virgin Galactic $SPCE: +63%
Koss $KOSS: +62%
Express $EXPR: +60%
GameStop $GME: +45%
Beyond Meat $BYND: +43%
Blackberry $BB: +40%
Fossil $FOSL: +25%
Bed Bath $BBBY: +24%
Tilray $TLRY: +23%

 

[Mr._Graybeard]

Revenge of the memes, returns this week...
AMC $AMC: +175%
Build-a-Bear $BBW: +65%
Virgin Galactic $SPCE: +63%
Koss $KOSS: +62%
Express $EXPR: +60%
GameStop $GME: +45%
Beyond Meat $BYND: +43%
Blackberry $BB: +40%
Fossil $FOSL: +25%
Bed Bath $BBBY: +24%
Tilray $TLRY: +23%

John Koss has been making out like a bandit. Acquired vested shares for $2, sold them for $23.xx.

 

[audreyh1]

I don't know but suspect that others dislike watching movies in theatres, too.

Absolutely. We can’t stand them, even empty matinees. Haven’t been in one since very early 2000s.

We’ve invested in a very good home theater setup instead.

 

[Koolau]

John Koss has been making out like a bandit. Acquired vested shares for $2, sold them for $23.xx.

Late 60s I w*rked a summer j*b for a millionaire (back when a million was real money.) He told of buying Binks Pneumatic stock for a couple of dollars and it was worth $125 or some such at the time. BUT the guy knew what to buy 'cause that was his business (body shop j*bber.) IOW he bought what he knew - what a concept! He did it the "old fashioned way." YMMV

 

[KCGeezer]

Revenge of the memes, returns this week...
AMC $AMC: +175%
Build-a-Bear $BBW: +65%
Virgin Galactic $SPCE: +63%
Koss $KOSS: +62%
Express $EXPR: +60%
GameStop $GME: +45%
Beyond Meat $BYND: +43%
Blackberry $BB: +40%
Fossil $FOSL: +25%
Bed Bath $BBBY: +24%
Tilray $TLRY: +23%

Add Workhorse $WKHS to the list. Up 100% in a week. I already owned a small position and like the company but will need to decide when to jump off the train.

 

[r3saving]

Maybe CLOV too ... +87% today and +~100% since June 7th. I don't have any of the meme stocks but it's certainly interesting to observe.

 

[bobandsherry]

Those meme stock "stick it to the man" investors (and we really that that investing?) have managed to make a solid payday for the GME CEO. In the two years he's been at Gamestop he's continued run the company into the sewer and throw up big losses. Yet because stock has been pumped up he now exists with $300M. He's laughing all the way to the bank.

 

[NW-Bound]

Both Gamestop and AMC were able to issue new shares to take advantage of the maniac bidding up of their stocks, and to raise money to pay off debts. A quick-thinking trader might be able to load up on their bonds to make beaucoup money.

Rallies in AMC and GameStop’s stocks have captured the public’s attention, but credit markets have been moved, too. GameStop no longer has debt, but AMC’s bonds have recovered dramatically. Its 12% note due in 2026 was deeply distressed in November at 5 cents on the dollar. An incredible turnaround has put them just above par now.

 

[KCGeezer]

Noted above, I had a position with WKHS well before the current hubbub. Stories/opinion include massive short squeeze, suit seeking to modify USPS contract favoring them, negative association with Lordstown. Who knows what’s going to happen.

If I believe the hype on this I’m either going to have a small loss or start a bigger personal BTD list. Wish I understood options better.

Anyone familiar or interested in this stock? I’m looking for disinterested but educated opinions as to what might happen. It’s a little like waiting for the lottery numbers to come up.

 

[EvrClrx311]

Some very odd behavior this week in Sears and Blockbuster (BLIAQ). Blockbuster in particular, which isn't available for the public to buy (certainly not those in the reddit crowds). In January during the Gamestop/AMC squeezes, Blockbuster rose from fractions of a penny up to 25 cents. It just starting up again last week as Gamestop and AMC rose also.

Is it possible that institutions shorted Blockbuster on the way down and kept open their positions to avoid paying taxes on them? If those companies were failing to meet margin on their current positions... and were being forced to close out their books, that might explain a sudden 10x rise in long dead companies like Blockbuster, if they had lots and lots of short positions left open on their books that were being closed out now.

Maybe I'm missing something more obvious that would explain Sears and Blockbuster activity this week?

 

[plex]

Probably a pump and dump, pretty common in dead penny stocks, just one party can do it there.

 

[EvrClrx311]

Probably a pump and dump, pretty common in dead penny stocks, just one party can do it there.

Who would they be targeting for the pump though? Both my brokers block these stocks.

 

[plex]

Generally the target is the less financially gifted, particularly if they've lost what they once had. The pitcher has someone buy the stock by some sort of method and contact potential targets through general scam methods of either cold calls, junk-email, discussion board messages, etc.... The elderly are a very common target, but we are in a speculation bubble of sorts, so there is a lot more of it going on right now. Of course, this is very disgusting and illegal.

 

[Koolau]

Some very odd behavior this week in Sears and Blockbuster (BLIAQ). Blockbuster in particular, which isn't available for the public to buy (certainly not those in the reddit crowds). In January during the Gamestop/AMC squeezes, Blockbuster rose from fractions of a penny up to 25 cents. It just starting up again last week as Gamestop and AMC rose also.

Is it possible that institutions shorted Blockbuster on the way down and kept open their positions to avoid paying taxes on them? If those companies were failing to meet margin on their current positions... and were being forced to close out their books, that might explain a sudden 10x rise in long dead companies like Blockbuster, if they had lots and lots of short positions left open on their books that were being closed out now.

Maybe I'm missing something more obvious that would explain Sears and Blockbuster activity this week?

I had no idea these stocks were even traded. I recall hearing that there was only one (as in 1.00) Lackluster - I mean Blockbuster - Video store remaining.

What a long-strange trip it's been. I still recall when video stores did not exist (heck, I recall when consumer video players did not exist.) I guess that's why it may be better to buy the stocks of boring companies like Coke and McDs instead of the "latest" new thing. Wonder what will cell phone stocks look like in 20 years?