Gamestop ($GAM) is still recovering from its incredible weekend and has saddled itself around $90 USD per share and I’m going in now. Why? Because there is still an incredible movement behind keeping this stock alive. Perhaps my motivation is more being part of the action than actually having a good investment. With the hedge funds fighting the retail traders as they have shorted the stock (to 0 I understand), it almost feels a moral duty to keep the company going and keep their staff employed.
In fact, the reason mainly I got into crypto was the fact that no one owned it. It belongs to everyone, I’m still fascinated by the power of a group of people to stand against the rich and powerful and what that can mean ethically.
There is a lot of talk on forums of “Keeping the faith” and almost holding the stock in place. Perhaps the Hedge Funds may give up on their shorts if that happens. This could fuel a huge rally at some point. Investing in $GAM is more a moral “Power to the People” kind of thing at the moment. But may result in a huge rally that sees the little guy win. Perhaps by us buying shares we can hold the company through covid that has shut so many shops.
Everyone should have a share portfolio and crypto IMHO and it’s not hard to do.
Chart courtesy of TradingView
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