I sold all my gamestop stock for various reasons to be outlined in this video.
How’s it going everybody this is beat the bush some time ago i decided to put a little bit of gambling money into gamestop and now i’ve decided to sell it today i’m gonna go through the thought process of why i am selling even though a lot of people are waiting for this to go to 800 to the moon to a thousand dollars this video is brought to you by wish.com wish.com
Sells all kinds of goods for a really really low price i found this low-cost pair of indoor shoes they turned out to be really comfortable a very high powered flashlight that works as described even a portable game console that can run street fighter 2. check out wish.com in the video description below now i’m not even saying that this stock is not going to
Go there just because i’m selling i still fully support the idea behind it the retail investor versus the big gorillas out there but buying into this i was just a little bit nervous because it did jump up many many multiple folds one year ago gamestop was only five dollars at 200 dollars this is a 40-fold increase now no stock should really be doing something
This this crazy basically it’s acting kind of like bitcoin before i get any deeper let me just tell you guys how much money i have into this i basically bought and sold 20 shares only about 2 000 worth so you can see over here february 2nd i bought gme 20 shares at 105 dollars or so i bought two thousand one hundred dollars in and then quickly in the same day i
Sold it at one hundred thirty four dollars because i said hey you know this is quick money is nice i was a little nervous that you know i have a little bit of money in there so now i cash it out at two thousand six hundred eighty six dollars this is like a six hundred dollar game this is a pretty nice game for one single day and then on the same day it dropped
Some more because i wanted to support it and i want to hold it a little bit longer i bought it at 128 dollars and 25 cents and i spent a little bit less on this at 2565 and then march 8 2021 it ramped all the way up to about 200 i saw at 205 or so so i sold it at 196 dollars and 21 cents uh for a profit of not profit the returns of 3924 dollars now if you add
Up all these buys and sells it’s about two thousand dollars nineteen hundred to two thousand dollars or so this is essentially a 2x gain over here so am i gonna fomo if this stock let’s say somehow it goes all the way up to i don’t know one thousand dollars or so this represents a fivefold increase so instead of making a two thousand dollar gain if i somehow
Am able to sell it at twenty shares one thousand dollars i would get back another 16 000 yes this is really nice but i feel this is like a marginal chance that this might happen it might happen i i don’t know you know these meme stocks are really really crazy anyway so here is why i am nervous holding on to this this whole month actually when i first bought into
It i felt that the train has left the station already because it ramped up all the way to what 380 or so and then they came back down in my experience whenever you see a giant spike like this it always dies down and it nothing ever happens after this in very rare cases for example bitcoin did go past the 20 000 mark but here’s my reasoning for this i looked up
The short interest over time real quick and back in december there was a short interest of about you know you kind of eyeball this 12 billion dollars because of the ramp up all the short interest has basically disappeared by a lot now there’s only 1.68 billion of it which is you know historically roughly about the same as before somehow in december there’s like a
Giant amount of short interest so because of this i don’t think the pressure for it to go up higher due to a short squeeze is going to be as apparent going forward from here on out now certainly you might call me paper hands you know because i keep on being wishy-washy i buy into something and then i sell it and then maybe i sell something too soon some people
Think i sell too soon but you know every single time i’m doing this i’m i’m making a profit gamestop i spent 2100 i made 1900 just you know doing trading over here this is a really good amount over the period of one month so two thousand dollars just for you know training at home is pretty good and i’m also spending you know like kind of like gambling money this
Is a very small amount um relative to my net worth relative to my portfolio so this is something i was willing to risk and i did see the gamestop price drop to like 40 50 or so and because it was a small amount i was able to hold on to this and just kind of you know chuck it aside and just go ah whatever you know it’s just a thousand dollars or so and wait for
It to come back up and now that it is up i feel like this is my chance to sell so this is why i sold so those are my reasons for selling gamestop right now i don’t plan this short or anything i bought shares and then when i see that there’s a profit i reap the profit take my attendees and basically run thanks for watching don’t forget to like this video and
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Transcribed from video
I Sold All My Gamestop By BeatTheBush