I just ran into a lot of posts and people recommending other people to buy Gamestop stocks, saying that something big is happening june 21st.
I’m not into stocks, does anyone have more info about it and can explain it to me like if I was a kid?
Posted by Jaded_Elk_4756
3 Comments
[Roaring Kitty did a live stream this morning](https://www.youtube.com/live/U1prSyyIco0)… The hype machine is primed. The autists are vibrating.
Don’t fall for the fomo
It’s a vastly complicated issue. I’ve been in it since 2020.
/r/Superstonk has the best up to date news/faqs regarding it. But the gist of the issue is that the company is profitable, with no debt, and billions of cash on hand, while the short sellers continue to use subterfuge to manipulate the price to try to postpone closing their positions.
But as evidenced by recent activity, it is SUPER volatile and HEAVILY manipulated. If you have CC debt, pay that off first, but if you’ve got $ to spare and are comfortable with the huge amount of risk that comes with GME, then hop on board. Superstonk does have strict karma/account restrictions to post/comment, but they have a lot of easy to digest help pages
If you don’t understand what’s happening right now, don’t play it. It may go higher, maybe even into the 100s, but it will eventually go back into the 10s. It was technically a Vega squeeze if you wanted to learn more about it.