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GameStop Corp GME

GameStop Corp. offers games and entertainment products through its stores and e-commerce platforms. The Company operates in four geographic segments: United States, Canada, Australia and Europe. Each segment consists primarily of retail operations, with the significant majority focused on games, entertainment products and technology. The Company has a total of approximately 4,169 stores across all of its segments: 2,915 in the United States, 203 in Canada, 404 in Australia, and 647 in Europe. Its stores and e-commerce sites operate primarily under the names GameStop, EB Games and Micromania. Its Australia and Europe segments also include approximately 49 pop culture themed stores selling collectibles, apparel, gadgets, electronics, toys and other retail products for technology enthusiasts and general consumers in international markets operating under the Zing Pop Culture brand. The Company's brands also include its print and digital gaming publication, Game Informer magazine.


NYSE:GME - Post by User

Comment by caretired1on Feb 04, 2021 6:31pm
137 Views
Post# 32479702

RE:RE:RE:Sorry GME Reddit gamblers

RE:RE:RE:Sorry GME Reddit gamblersI am very, very tired of this perspective that I have watched and listened to over the past several weeks.  I am a Redditer and am 59 years old, retired with a 10 figure net worth.  The story that has only very lightly been touched on by Kathryn Murray on BNN is the hedge funds and their market making buddies sold short and sold naked short(which is not allowed) Gamestop shares to a level of 148% of the issued and outstanding shares.  It is normally considered that a stock is highly shorted when about 20% of its float is shorted so this hedge crew went waaaaaaaay out on a limb.  So some one who wanted to go long and take advantage of this highly unusually negatively leveraged situation and make some money in an opposite way the hedge crew hoped to.  To us the term gambling on the long is the same as how the trading term of making a bet on a stock when you go short.  The hedge crew got what they deserved in that they didn't even consider or anticipate the possibliity this stock price could go up and quickly.  Whether it went to 100 or 400, the outcome was likely the same for them.  All this talk of SEC and govt investigation should simply consider did the hedge guys break the rules with the market makers by shorting more than 100% of the stock or going naked.  If they think they need to regulate the shorting of stocks, have at it, but good luck getting the hedge funds to agree, even though they had a loser here - and maybe they didn't - if Merlin shorted at 300 0r 400 after raising more capital, i'll bet they didn't make out as badly as people think.  Aside from all of that, hopefully naiive retail investors didn't get badly hurt here - we don't know yet.  Don't worry about me - I'm a Redditer but don't want your support or scorn.

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