4.8 • 1000 Ratings
🗓️ 27 January 2021
⏱️ 14 minutes
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0:00.0 | So you beautiful bastards. |
0:01.7 | Welcome back to the Philip DeFranco show. |
0:03.4 | It is Wednesday, January 27th, 2021. |
0:06.8 | Hit that like button, otherwise we'll punch you in the throat. |
0:09.6 | And let's just jump into the news of the day |
0:11.7 | so you can get back to yours. |
0:12.9 | The first thing they're gonna talk about today |
0:14.8 | is GameStop or as Elon Musk calls it GameStank. |
0:18.3 | What an absolutely insane situation. |
0:20.8 | For reference, back in July, the stock was only $4 a share. |
0:24.0 | But like we talked about on Monday, it jumped all the way up to $140 a share, then plummeting down to $70. |
0:30.1 | And then it proceeded to rise and rise and rise. And then Elon Musk tweeted about it. |
0:36.1 | Game stomp. Rise and rise. And as of recording about it. Game stock rise and rise and as of recording it is |
0:40.2 | $350 a share. Meanwhile it's also not just GameStop anymore shares of AMC open at $20 this morning |
0:46.0 | which is very notable because for the past month it's been trading around $2 also for transparency |
0:50.8 | sake I currently own some AMC stock I am not an advisor this is not advice i am not |
0:55.4 | making a recommendation i literally have no idea how anything works about anything have i made this |
1:01.4 | part clear literally the only thing i could maybe say i know there are going to be a lot of people |
1:05.2 | that make a lot of money and a lot of people that lose a lot of money that's that's what's happening |
1:08.2 | because trading has been so volatile today that AMC |
1:11.2 | and GameStop stocks have had to be temporarily suspended multiple times. As far as what's driving |
1:15.3 | these two huge optics, it's two main things, short selling and short squeezing. Try to oversimplify. |
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