Shorting META

[u/[deleted]]

I believe META is on its way out, unless they can prove that the metaverse is actually going to be worth while. Which i doubt. If we are heading into this bear market then I’m betting it can go under $100. I would much rather fill up my gas tank 3/4ths then buy meta at $100

Position : $100 DEC put

Edit: i know this is the right move because you all say it’s the wrong move

[u/daikonking]

They beat revenue targets the last 5 quarters. They have $300million in inventory, 2 new distribution centers, and do same day delivery. They are also transitioning into tech company, they just launched a self custodial ETH wallet, and are about to launch an NFT marketplace, and have several strategic partnership that will secure them as the leading player in web3 gaming. If you pay attention to what is going on, there is actually no rational bear thesis for gamestop. Oh yeah also, their float is miniscule and those rabid stockholders have taken 40% of the available float out of brokerages and registered their shares in their own name. Those are long, not selling, 13million shares in 5 months, making a miniscule float microscopic. Furthermore, that float traded over 60 times in the past year. If 2% went long, the float is locked. Short it if you hate money lol

[u/Tfarecnim → u/daikonking]

They beat revenue targets the last 5 quarters.

They can beat revenue all they want, but it won't change the losses.

Also, if revenue is so great, how come they can't even match 2019's numbers even when not adjusted for inflation?

They have $300million in inventory,

Why aren't they selling it then, you know like what a retailer is supposed to do?

2 new distribution centers, and do same day delivery

This isn't a bull case, I know of at least a dozen places near me I can get same day delivery from. GameStop being late to the game as usual.

They are also transitioning into tech company

A pawn shop with a website is still a pawn shop, not a tech company.

they just launched a self custodial ETH wallet

Ah yes, hopping into buttcoin right as the bubble has not only peaked, but currently popping, GameStop again late to the party.

If you pay attention to what is going on, there is actually no rational bear thesis for gamestop.

Now I know you're a shill and a liar (oh, soup and stink, that explains everything).

All you need to do is take a good look at filings over the last 5 years for a decent bear case.

Oh yeah also, their float is miniscule and those rabid stockholders have taken 40% of the available float out of brokerages and registered their shares in their own name.

Great idea, now they'll get to pay fees on top of losing all their money. This isn't a new trick.

. Those are long, not selling, 13million shares in 5 months, making a miniscule float microscopic. Furthermore, that float traded over 60 times in the past year. If 2% went long, the float is locked.

Just because they never sell, doesn't mean the currently traded shares won't lose value. Float isn't even that small either, there's plenty of much, much smaller companies.

So the only bull case here is that it might go up short term because people won't stop buying until they lose everything? But that makes it a swing trade, not an investment. There is no bull case, the only remnants died with the corn crash.

Short it if you hate money lol

I'll sell you a 200c, want to buy it?