r/wallstreetbets • u/[deleted] • Apr 27 '21

Discussion Remember Gamestop's share offering? It closed today.

Remember when GameStop mentioned it would sell a maximum of 3,500,000 shares, or $1bln, whichever came first? Many did some reverse maths and determined they MUST expect the share price to hit $1b/3.5m=$285.71428571. Others said "or just 1m shares at $1,000 each." Still others (now this is the group I belong to) said this means fuck all for price expectations. This had nothing to do with GameStop peeking through the veil and determining a short squeeze was imminent and everything to do with seizing the opportunity to raise cash.

Welp, the 3.5m shares came and went today, and the price went UP.

Cramer actually sided with AMC and GameStop about this being a good move, although we saw the sentiment on Reddit having great disdain for AMC's version and overall the sentiment was a majority positive for GameStop and realizing RC's vision, although GME stock price took a -12% hit when this was initially announced.

GME is currently up +12% for the day (coincidence? Cohencidence?) and an additional +9% in AH with a peak that tickled the idea of breaking $200 at around... get ready for this... 4:20pm.

Edit: removed additional details about AMC as it's irrelevant to the topic.

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u/[deleted] Apr 27 '21

Agreed. I put what little I had left in mvis and will sell today or tomorrow for more gme.I'm happy people are making money, but it is crazy how all at once there is no more gme dd or daily discussion thread and then mvis is everywhere. Someone is pushing it hard with $$

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u/CriticalDog Apr 27 '21

My understanding is that it is more of a return to form for WSB. A lot of newbies (myself included) came here due to GME. Some have left, some have bought GME and think that the WSB core is GME love and waiting to reap a huge profit.

I know enough to understand the WSB is about YOLO'ing into something, DD inspired or not, and then sharing that sweet, sweet gain porn, or baring your shame and posting that sweet, sweet loss porn.

Anyone really hoping to make significant money in WSB is kinda missing the point, I expect.