Saturday, October 16, 2021
Home TecStocks $GME Gamma Squeezing to $10B+

$GME Gamma Squeezing to $10B+

WallStreetBets and GameStop (GME) have been on the stock media buzz for the past week. GameStop literally went from millions to billions in two weeks; a company expected to go bankrupt a few months back now is the Reddit star.

As of this writing, GME is worth 14.5 billion dollars, and the stock finished at $207 with a high of almost $250. It was selling for $17.05 on Jan. 11, 2021. Nothing has changed fundamentally to justify the price. This is due to the dueling of short-sellers and the new Reddit investors from the WallStreetBets subreddit. WallStreetBets has gained about a million subscribers in a week. The price increase is mainly due to “Gamma Squeeze,” basically market makers forced to buy stocks when someone buys OTM call options. Today Chamath Palihapitia bought 100K’s $110 calls when the stock was about $90, adding to the gamma squeeze, and Elon Must seem to enjoy “short short” events too.

This seems to have made millionaires in the WallStreetBets community and many credit reddit+robinhood/fee-free investing+$timulus check for their reach to the millionaire status.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Introducing: iPhone 13

The iPhone 13 is Apple's newest iPhone. It will be compatible with iOS 15. The iPhone is much better than iPhone 5S. But it...

Nintendo out of stock in Costco, still available in Walmart

Nintendo has become popular among kids, especially Pokemon is one of its signature game that is popular amongs kids. Nintendo console was available in...

Google following Apple building its own processor

Googld planning to build its own “Google Tensor, the brand new chip designed by Google, custom-made for Pixel,” the company tweeted. “The highlight of...

Weak Ahead 08/02-06

All major indices were down last week, especially decline started after Thursday earning reports. The S&P 500 lost 0.4% in the past week reaching...

Recent Comments