Anonymous
Is it a good time to buy in GameStop shares now?
Is it still a good time to buy in GameStop shares at the moment?
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Billy
29 Jan 2021
Development & Acquisitions Manager at Real Estate Private Equity
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Let me give you both scenarios since I don't wanna mislead you.
Yes! Its a good time to buy because...
Shorts have not been fully covered
With the limelight now on brokerage firms following yesterday's trading bans, wallstbets would probably push the prices up again / have the confidence to hold (Or diamond hands as opposed to paper hands as they would say)
Someone sold GME at $2600 using robinhood for 1 share yesterday - shows how desperate funds are to cover their shorts (since they shorted more than the available market float)
No! It's not a good time to buy because...
We have seen how market reacted when brokers interfere (which they might again if such methods become legalise)
Fundamentally, there's no basis for GME's price to be this high
Hype always dies. Once the redditor with $15m worth of GME sells, I believe the bubble is gonna burst fast.
If you heart is able to take such volatilty (100 to 500 back to 100 and to 300 in days) and if you are open to gambling funds you are prepared to lose, could consider buying 1 or 2 just for luck.