💎🙌 GME GANG CHECKING IN. 💎🙌
Dear GME gang 🚀,
I wanted to share my Price Targets (PT) for GME but no BS here. I give you my PT according to actual facts.
Let’s take a look at the table and check when the short % of free float went from a high point (~160%) at around February 2020 to a low point (~140%) - which by the way they, in absolute terms, both are huge numbers of course - I won't talk about the potential short-squeeze here (I will publish the ultimate DD on GME TOMORROW and talk about it in here, stay tuned).
The stock went up ~94% BUT most of the gain took place at 2 key moments: at the recovery of the market crash and then in late August which shows that 💎🙌-ing is key to capture most of the gains. Why do I say this? Because when holding the stock at the time you could “feel” like you bled all along esp. when you watch the stats:
Positive daily returns: 49.3%
Negative daily returns: 50.7%
BUT IT WAS IN FACT THE SHORT SELLERS WHO BLED HARD. CHECK THIS OUT:
Best daily return: 23.0 %
Worst daily return: -13.7 %
Imagine you sold GME when the -13.7% happened. You would not have captured the 94% returns. So just 💎🙌 and let those shorts go bankrupt.
Okay, here I showed FACTS. Stuff that actually happened. Now here is my opinion about a reasonable price target according to the data.
I think we could easily hit +80% over the next 6 months when the short % of free float will return to 140% it makes a lower bound PT of $34 without a short-squeeze. But this doesn’t even account for the fact that some short-sellers will not be able to hold from here. Keep in mind that some shorts have a triple-digit % drawdown already.
Conclusion
Price targets for the 3-6 next months according to the data from 2019-2020 (assuming the short float drops by 20%) :
- Conservative: $34 without a short-squeeze (+80%) 🚀
- Likely to happen: $50 without a short-squeeze (+180%) 🚀🚀
- Optimist: $70 without a short-squeeze (+372%) 🚀🚀🚀
So I'd suggest that for those of you who DO NOT believe in a short-squeeze to put a take profit at around 70-80$.
Note that these are price targets assume the short % of free float go down to ~140%, if it goes to 130% or even less the price could go up substantially more. And...
Keep in mind that my PTs are overall all VERY CONSERVATIVE given that:
- I DIDN'T even account for the fact that the next earnings will be good/great.
- I didn’t even account for the fact that Ryan Cohen’s stake is now at 12.9% - those will NOT be sold, so the potential sell-pressure will be LESS than before = bullish.
- With a short-squeeze I have actually no idea where this could go but again very easily $100+.
I WILL PUBLISH THE ULTIMATE DD ON GME TOMORROW BE SURE TO CHECK THIS OUT (100% TENDIES, 0% BS IN HERE).
Positions: a lot of shares. 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Disclamer for the bears: I only try to make the best PT estimations and share it with you all. I do my estimation, not by technical analysis but with actual data and what I believe to be the best hypothesis (short float will decrease by 20%). By no means I am saying I can see into the future unlike some people seem to think. I thought it was obvious but I must clarify it apparently. Anyway, I put my money where my mouth is and I share my personal insights that's it. If you really think I am wrong, by all means go ahead and buy some puts or short the stock, I'll be glad, the money you will lose is the money we will earn.