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[quote=Anonymous][quote=Anonymous]Does anyone actually know what to do with GME tomorrow? Will this thing hit >300?[/quote]

No one knows where the top is...this is history making/unprecedented.  GME is caught in a positive feedback loop.  Dumb shorts got insanely greedy - they kept shorting a stock over 140% when it was $3 (seriously, how can a $3 stock go down?).  They wanted to see GME go bankrupt and for many people to lose jobs.  Shorts shorted while options buyers piled on.  This is also a stock, btw, with a very small number of shares available for trading.  It was complete powder keg ready to explode and all it took was the positive news that GME was overhauling its management to set it off.

All of the big market makers who are selling call options are now constantly having to buy shares of GME to reduce their risk, and because options keep going in the money.  This is called a gamma squeeze.  The latest options chains for GME are now ALL in the money, thus if the stock stays high, the sellers of calls will face massive risks that they'll be assigned and will have to deliver shares when the options expire this friday.  It's going to be a huge gamma squeeze again.

On top of this, short interest is still massive.  Shorts cannot get out of their positions easily because there are just very few shares available (low float).  Shorts are losing their asses because they're paying something like 45% interest or something, so there's tremendous demand from shorts for shares to cover their positions, which is driving up the price for a lowly available stock.

It's basically a once in a century scenarios where there's a perfect alignment of the stars at the same time.   $500 per share may even be bearish at this rate.  The gamma squeeze is going to be massive tomorrow and on Friday if the stock price stays elevated.

So many in the media and those on Wall Street are crying foul.  Too bad.  They were greedy hogs who tried to short a $3 stock over 140% that also had a low float.  They got caught with their pants down and are now paying the price. They knew well ahead of time that the risk was always infinite losses.  That's a decision they freely made and they're paying dearly.  Hogs get slaughtered.  The media doesn't seem to complain when rich elitists and Wall Street wins, yet all of the sudden it is problem when the small guy figures out the game and starts winning accord[/quote]

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