Some Thoughts About GameStop
Updated
Here's a quick post and chart about GameStop. Remember GameStop mania? I sure do. I have rarely seen such a frenzy grasp all markets from the web to TV and mainstream culture. But that's not the point of this post. The point of this post is talk about how surprisingly strong GameStop has remained.
Most people I talk to, without looking at a chart of GameStop, assume the mania has faded, the bubble has popped, the story is over. But the thing is, the chart is still really eye catching.
It's eye catching because it is potentially forming a giant flag. And it's doing it pretty quietly.
I recently read that the retail army behind GameStop has almost managed to Directly Register (DRS) large percentage shares outstanding. What is DRS? It means every share they own is now owned in their name with no broker or middle man or market maker or fund or machine sitting between them and their brokerage. It means the shares can't be loaned, traded, bought or sold without them taking their shares back to a broker and re-registering them and trading them.
I find that fascinating! I also think more retail traders/investors should learn about DRS as most have no idea what actually goes on with their shares. DRS is an interesting way to learn more about registering shares directly in your name.
Anyways, I am interested to see what happens here.
Most people I talk to, without looking at a chart of GameStop, assume the mania has faded, the bubble has popped, the story is over. But the thing is, the chart is still really eye catching.
It's eye catching because it is potentially forming a giant flag. And it's doing it pretty quietly.
I recently read that the retail army behind GameStop has almost managed to Directly Register (DRS) large percentage shares outstanding. What is DRS? It means every share they own is now owned in their name with no broker or middle man or market maker or fund or machine sitting between them and their brokerage. It means the shares can't be loaned, traded, bought or sold without them taking their shares back to a broker and re-registering them and trading them.
I find that fascinating! I also think more retail traders/investors should learn about DRS as most have no idea what actually goes on with their shares. DRS is an interesting way to learn more about registering shares directly in your name.
Anyways, I am interested to see what happens here.
Note
By the way: GameStop is up 4% YTD
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