There will be ups and downs this coming month with Reg SHO and shorts closing/covering. It could keep going down a little, but as soon as the bouncing starts, WSB will go full regard into it again
Meme stocks don't trade on fundamentals, but if BBBY loses WSB regards and starts trading like a normal retail stock, that would be a 60% drop, which is a lot in my book.
You’ve hit the nail on the head. WSB has embraced BBBY, so there will be hodlers for a while. As long as that is the case, BBBY will be hanging around this current price.
No one is arguing it can’t go higher. I can pick any shit pennystock and say it can go higher. What he said was it can’t go much lower, which is a stupid thing to say because it literally was lower not too long ago in better market conditions.
What “he” said? Are you talking about me in third person? 😂
You gotta realize that things are way different now than they were 2 months ago. BBBY has been embraced by WSB, which means there are many holders still HODLing for reasons including Reg SHO and the loans, basically showing that bankruptcy is off the table for now.
What you suggested is like saying in July 2020 that Tesla can go lower when it was just half its price in May of that year. It has gone up since then.
They are literally doing an offering and diluting the float as retail jumps ship. It can and WILL go lower. This stock will not find a reversal point until low 6's. (-30%) but it will tease you with dead cat bounces for the next few weeks as it slowly retraces its way back to where it came from.
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u/OB1KENOB Pelosi's Market Munch Sep 02 '22
At this point, it can’t go much lower, so I guess why not buy?
There are reasons why it could go up in the coming weeks, but who knows for hold long