this post was submitted on 16 Oct 2023
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DRS Your GME

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The price drop is because of market manipulation and the current price doesn't represent fundamentals. We all know GME is worth more.

But the price has been gradually decreasing ever since the January 2021 sneeze and this thread over at SS suggests the line reaches 0 around 1/1/2024.

https://www.reddit.com/r/Superstonk/comments/179hajz/wild_the_current_regression_fit_from_june_14th_of/

I don't think it will actually hit 0 but I know I'm going to be buying more in November and December.

Point is don't let this rattle you. I bought my first share at $448.30 so why wouldn't I buy more at $1?

The finish line isn't out of reach any more. We're going to lock the float, and we're going to do it fast. Buckle your seatbelts.

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[–] [email protected] 12 points 1 year ago (1 children)

You have some basic facts wrong and you've also badly mischaracterized the view held by GME investors.

It was not "one website" that disabled the buy button, and it was not just GME that was disabled. Multiple brokers and their clearing houses colluded to disable any further purchasing of GME and other stocks. The incumbent financial institutions colluded to pull this maneuver for a reason, and the reason is that if they didn't do it, for many of them it would meant the end of their existence.

For example, Thomas Peterffy, founder and chairman of Interactive Brokers (one of the brokerages that disabled buying of GME and other stocks) said on Feb 17 that "we have come dangerously close to the collapse of the entire system". What kind of system was it in the first place anyways if the price of a particular stock goes so high that it would cause the system to break?

I think the significance of this entire episode is missed on you, but it might help your understanding if you at least had the basic facts right.