Tell that to mary antoinette
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What everyone's prediction for AMC peak price this coming Monday, Tuesday?
:rocket::rocket::rocket::moon:
.Quote:
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I find it very weird that super pro-capitalism Beyond is so anti-billionaire.
We like Papa Elon and Daddy Chamath
If videogames have taught me anything, its never underestimate the Zergling Rush.
Stay strong Degenerates. Let the boomers comment but ignore them!
Uh... watch the video pinned at the top... if true... holy... we just getting warmed up! Would explain the flatness though
https://mobile.twitter.com/kjetillstjerne
WSB bails out the Ontario Teacher's pension fund.
2021 investment strategy: Spite.
320$ is a very popular strike price for GME options that expire at the end of today. So being above 320$ means people should/will exercise those options to purchase shares at 325$. Basically you pay 320$ and you get a share that was worth 325$ at close or whatever its worth on Monday. There's strike prices every 5$ so nothing specific is magical about 320$ except that options for a couple million shares were all sold at 320$ which means from now until when they have to deliver the shares (someone told me end of day Tuesday?) there's millions of extra shares that need to be acquired, this is on top of the ~6 million shares from options at a much lower strike price.
Short answer: Being above 320$ means ~8 million shares need to be bought on Monday instead of ~6 million shares if it was below 320$. It's estimated that only ~50 million shares are in circulation (Not held by owners/long investors that aren't playing the market). So 8 out of every 50 shares need to be acquired by the short sellers in the span of a few days. The reddit theory is if they keep holding then they can charge crazy high prices for those shares.
But a lot of people will be looking to unload on Monday so we'll see how it actually pans out.