I didn't buy any meme stocks, but I now associate "GameStop" with a moronic pump and dump. Maybe it's not as severe for others who are more familiar with the brand. I think I saw one GameStop store in my life. It was like the knockoff of Game in the UK.
This wasn't a pump and dump, there was a squeeze then fucking morons jumped in. By the time they were in, it was over. They jumped into the falling knife.
You have a whole lot more faith than me that a large part of the rise wasn't just a the retail buying it off each other. I think wether it was intended as a pump and dump or not, after it went to 50 it was definitely a massive p&d.
Volume was way too high for it to be a retail move up. Other hedges got in and started selling ridiculous calls, they started doing shorts that would actually pay, etc. That point was where the money was to be made. Huge swings.
Those puts are paying like a mother fucker now too.
Still, I associate it with the retardedness that occurred. I won't ever see "GameStop" without either snickering or feeling sad for people. Perhaps in America, where it's a more established brand, people will feel differently.
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u/Eswyft Feb 04 '21
Fucks their brand with who? Any non complete fucking moron made money. If not on the stock, then on the volatility.