GameStop in charts: Riding the tornado

I’m sure you’ve heard about Gamestop

The firm’s share price has spiked from a few dollars in 2020 to a peak of more than $350 on January 27th, transforming a firm that was valued at less than $200m in April 2020 into a $24bn middleweight. This meteoric rise has been chronicled on every front page, pored over on financial television and even discussed in the halls of power. 

https://www.economist.com/finance-and-economics/2021/01/30/the-frenzied-rise-of-gamestop

Here’s what the retail traders from the r/WallStreetBets community achieved in charts as of Wednesday. On Thurday, the shares fell as the establishment tried to keep control. On Friday, the shares rose.

The traders remind me of Pecos Bill, a comboy who rode a tornado: https://en.wikipedia.org/wiki/Pecos_Bill#:~:text=On%20one%20of%20his%20various,managed%20to%20lasso%20a%20tornado.&text=Pecos%20Bill%20is%20a%20fictional,%2C%20Southern%20California%2C%20and%20Arizona.

For they have sown the wind, and they shall reap the whirlwind

Hosea 8:7

Applies to the hedgies that got taken to the cleaners, and will apply to the retail traders of the r/WallStreetBets community.

Ride the whirlwind cowboys.

Advertisement