The Investment Thread (12 Viewers)

[superchuck500]

There’s always two sides to every trade, even the big players. There were hedge funds long on GME and AMC.

 

[Kegger]

There’s always two sides to every trade, even the big players. There were hedge funds long on GME and AMC.

Were they hedging the hedge? Expecting a short squeeze?

 

[superchuck500]

Were they hedging the hedge? Expecting a short squeeze?

Nope, they saw a contrarian view of the company: that it actually could have a future if it properly managed an evolution in its business . . . and they got it cheap. So they were basically long Gamestop.

 

[Tapxe]

Lucky, I've been trying to get in recently but my Binance account is still pending verification

Binance US doesn't support Louisiana. Go with Coinbase, Kraken, or even PayPal would be my advice. I have an overseas binance created before the changes. Still can't find a us exchange to move 3 of the coins I've got left on it.

 

[Saint Kamara]

Just trade a bitcoin stock vs all the complexity of actually owning bitcoins.

The bitcoin stock I own (GTBC) has exactly mirrored the rise and fall of the bitcoin price.

 

[Saint Kamara]

Nope, they saw a contrarian view of the company: that it actually could have a future if it properly managed an evolution in its business . . . and they got it cheap. So they were basically long Gamestop.

I wouldn't touch Gamestop at just under $100. That is a dead stock as they have closed down or in the process of closing down 450 stores nationwide. Sounds like another Sears to me. Only a matter of time.

I would consider AMC as they have a shot post covid-19 to not only survive, but thrive. Everybody will be going to the movies once this is over. So if it goes somewhere around $6, I think I'll jump in.

 

[Chris]

Nope, they saw a contrarian view of the company: that it actually could have a future if it properly managed an evolution in its business . . . and they got it cheap. So they were basically long Gamestop.

GameStop hired a new CTO (former lead engineer for Amazon AWS) and have already formed a multi-year partnership with Microsoft. They seem to be serious about staying relevant.

GameStop Appoints Chief Technology Officer | Gamestop Corp.

news.gamestop.com

GameStop Announces Multi-year Strategic Partnership with Microsoft | Gamestop Corp.

news.gamestop.com

This is just me thinking out loud, but imagine if they could create a digital storefront that would allow users to legally trade or sell the licenses of the digital games they already purchased.

French Court Says Valve Must Allow Steam Users To Resell Games

Back in 2015, Valve got sued by a French consumer organization called UFC-Que Choisir (not to be confused with non-French, non-consumer organization the Ultimate Fighting Championship). UFC-Que Choisir had a multitude of bones to pick with the longtime Steam steward, the biggest among them being...

kotaku.com

 

[Tapxe]

all the complexity of actually owning bitcoins.

Ok boomer

Seriously though, there's many more things you can do on the exchanges you can't with stocks. DeFi is set to revolutionize currency and you can get in really cheap there now.

 

[Saint Kamara]

Ok boomer

Seriously though, there's many more things you can do on the exchanges you can't with stocks. DeFi is set to revolutionize currency and you can get in really cheap there now.

I hear ya.

I'm mainly talking to the casual investor who wants to get into bitcoin as easily as possible.

 

[Kegger]

Just trade a bitcoin stock vs all the complexity of actually owning bitcoins.

The bitcoin stock I own (GTBC) has exactly mirrored the rise and fall of the bitcoin price.

I'd prefer to actually have the coins in my possession rather than have someone else watch them for me (already bought the cold storage wallet). Plus, I'm interested in more than just speculation and might want to actually use them for transactions at some point.

 

[Kegger]

Binance US doesn't support Louisiana. Go with Coinbase, Kraken, or even PayPal would be my advice. I have an overseas binance created before the changes. Still can't find a us exchange to move 3 of the coins I've got left on it.

Good point, though I'm currently a Pennsylvania resident (which is supported). If it takes much longer though to get verified, I might try Coinbase and bite the bullet on the higher transaction fees.

 

[Chris]

Trying to reach Fidelity support within the first hour of the market opening...

 

[Turfie]

It’s a blood bath today for the meme stocks.

 

[mb504]

It’s a blood bath today for the meme stocks.

But a good day for the meme crypto.

 

[jboss]

I just went all in on PINS today for the report. It's pretty flat in the lead up so thought I'd pull the trigger. I have a good feeling about it.