A year ago, shares of Gamestop (GME) could be bought for under $5. The retail operation was seen as on its last legs. But then Michael Burry, of The Big Short fame became a fan. So too, did the posters of Wall Street Bets, a subreddit of traders looking for their next play. They were fans in regards to a short-squeeze thesis, given how many shares were already being held short. That played out spectacularly on Friday.
Shares, which were as low as $12 just a month ago, closed on Thursday at $43 and surged nearly 70 percent intraday to a high of $76, before being halted. The exchange halt caused shares to stop heading higher, and may mark an end of the rally — or not. Traders looking for their next big win might be wise to take a look at other heavily-shorted stocks for a similar explosive rally. They may also want to look out below when the buying frenzy stops.
Now here’s the rest of the news:
Since a year ago today, when the first Covid-19 virus was confirmed in Canada … Coronavirus has destroyed nearly $15 trillion in global stock-market wealth in just five weeks. (March 21 through April 30, 2020).
Silver Markets Showing Signs of Life –Christopher Lewis
“With Joe Biden talking about a potential $2 trillion worth of stimulus, one would assume that the US dollar would eventually suffer as a result, and of course the demand for silver […] should continue to be strong.”
Gold $1,858.28 (+1.5%)
Silver $25.62 (+3.0%)
Platinum $1,111.45 (+3.0%)
Palladium $2,393.77 (-1.2%)
January 25, 2020
5 Amazing Questions That’ll Make This Year Better
- What parts of your business did you find the most joy from this year?
- What did you avoid doing in your business this year?
- What do you wish you had done more of in your business?
- What do you wish you had done differently in your business?
- What do you think you could do better next year?
These are the type of questions that make, The Best Sales Person I Ever Met
With a knock on the door … How many boxes of cookies will you be buying?
You’ll want to share them with your friends, won’t you? 😉
January 25, 2019
Getting a wee bit nostalgic? Wistful? Regretful?
Aren’t we becoming over familiar with the “Harsh Realities of Life!”?
What? You? …back to work! [At the very least I’ve got my coffee]