Are there any Apes here on MyFico?

HappyJoey425 · ‎01-18-2022

Hello to all and Happy New Year,

Just curious to know if there are folks from the Ape community here.

Myself, and numerous others just happen to love "AMC" & "GME" amongst others. Very passionate about the rise of them.

Side tangent- Iris Social Stock App is a really fun app to try out.

Respectfully,

Joey

(Please delete if not allowed mods)

coldfusion · ‎01-18-2022

No, but I kind of enjoy the idea of you folks making short-sellers queasy.

(3/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion

wasCB14 · ‎01-18-2022

I was (and still am) cynical of the future of both companies, but I've never taken a position in them (long or short).

I took the view that they were subject to long-term decline, with both games and movies being things people will prefer to stream/download that don't really need a bick-and-mortar commercial presence...especially during a pandemic...but also knew that even weak companies can stay in business for a long time. A long shareholder can be patient and just sit peacefully through a bumpy ride, but it takes an extraordinary level of pessimism to buy puts or short a stock. I wasn't that pessimistic.

I used to find it entertaining the follow the news around them, but these days contractors and tenants give me all the investment-related excitement and drama I can handle.

I did browse an SEC paper that IIRC concluded there was actually never a short squeeze in GME. It attributed the run-up in share price to longs buying, rather than shorts covering.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select

iced · ‎01-19-2022

@wasCB14 wrote:

I did browse an SEC paper that IIRC concluded there was actually never a short squeeze in GME. It attributed the run-up in share price to longs buying, rather than shorts covering.

I've also heard this from my channels. At this point, both stocks are avoided by traditional investors (institutional ownership is 26% for GME and 31% for AMC -- abysmal by stock standards). It's only going to go up if more retail traders buy it, and the only ones getting good prices are the first ones to exit before the party runs it course. Basically, they're stocks that will act like MLMs -- those who got in early and out early win, and everyone else will lose.