Recording summary · February 2021
The GameStop WallstreetBets party is OVER -( - $GME $AMC
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Overview
Daniel reduced meme stock positions by selling half of the AMC holdings and roughly 70% of the GameStop shares to secure profits as the surrounding market hype waned.
Daniel intends to exit the remaining AMC stake upon a slight price increase while keeping six GameStop shares, contrasting fundamental long-term investing with speculative meme stock trading.
Themes
Trading strategies and position adjustments regarding GameStop and AMC shares.
Contrasting fundamental-driven long-term investing with speculative meme stock behavior in online communities.
Developments
Daniel began investing in November.
Daniel sold half of the AMC shares and approximately 70% of the GameStop position on the day of the recording.
Daniel bought 400 AMC shares around $4.80 and later sold half of the stake.
Daniel made several GameStop trades across different price tiers, buying 61 shares at $21, additional shares near $300 and $222, and selling the higher position at a loss while retaining six shares.
Uncertainties & gaps
Daniel cannot recall the exact price point of an earlier GameStop repurchase, estimating it was near $140.
Daniel is uncertain whether the AMC and GameStop trading frenzy has peaked or if this market assessment will prove mistaken.
Daniel remains unsure whether to sell the remaining six GameStop shares if the price falls below £200.