Gamestop (GME) today just finished their at the market secondary of selling $551M of stock at an average price of $157/share. And the market is trading upwards of $190 after hours.
BRAVO Ryan Cohen and Board...BRAV-Fucking-O.
Wallstreet bets and the Robinhoodies may have single handedly saved this company from going bankrupt. It was left for trash and and now look where we are. There balance sheet is not bad and GME has alot of momentum. And honestly, you have people who are never going to sell their shares to prove a point. This is a David vs Goliath moment in trading. and DAvid is not giving up. You now have alot of hedgefunds who are actualyl long this stock trying to make a buck.
GME has built a GIGANTIC wedge and held the 50 day moving average. It broke out today and is up after hours. Can this be round 3?
If this were to gain momentum you may see some fireworks that are much more crazy than before considering the amount of outstanding shares and liquidity is low to the upside. Does anyone have the most recent short interest on this puppy? I am looking to trade this on the longside for a continuation move if this starts again...could get crazy fast!
Can retail ACTUALLY corner the GME market by holding over the next few months or years? That would be nuts. Time will tell.