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29 January 2021, 02:02 PM | #91 | |
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I did and escaped with my shirt afterhours. I do not have diamond hands as the kids on Reddit say lol I still made a few grand but peanuts compared to what I was up within 5 mins of opening the position lol I see the whole angle and I think it’s a riot but there is just way too much f#%^ery going on for me. Think or Swim was fairly good today. I heard others had trouble.
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29 January 2021, 02:53 PM | #92 | |
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https://www.dailymail.co.uk/news/art...urban-dad.html
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29 January 2021, 03:42 PM | #93 |
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29 January 2021, 07:04 PM | #94 |
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I got one free stock when I signed up with Robinhood and it happened to be GameStop lol. I think it was worth like $1.30 something when I got it. Did not hear about this whole squeeze so I had no idea until I logged into Robinhood last night and saw it was at $311. It’s the only stock I have. Wondering if it could climb or if I should just count it as a free $300 and dump it now.
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29 January 2021, 07:36 PM | #95 |
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I often look on WSB, maybe it's my age, but when buying and selling trending stocks it was a useful resource.
Yesterday was a moment for the history books though. The shorts knew they were in trouble, and still are. If enough people buy GME stock, the price will go parabolic, causing them to loose billions, on top of the billions they have already lost. But yesterday, Trading212 and Robinhood prevented everyday people buying GME shares, thus temporarily saving them, and making the everyday people loose millions. This in my opinion is completely unacceptable, and I am sure illegal. Personally I lost money, but nothing compared to some, one person lost over 10 million yesterday, and he wasn't the only one. For once the everyday people were beating wall street, at their own game... so to stop this, the rules of the game were changed. From here, WSB community are angry, but only going to buy more stock using other platforms... This is too good of an opportunity to let go. Watch the stock over the next 72 hours, there is going to be a lot of money made for some people, and I don't think it will be the hedge funds.
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29 January 2021, 07:38 PM | #96 | |
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You think I should sit on the one stock I have for GME for now? |
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29 January 2021, 07:44 PM | #97 | |
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Google the "VW short squeeze chart", GME is no different, except a lot more people are buying in, which potentially will get this even higher. But no one knows for sure
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29 January 2021, 08:26 PM | #98 |
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Opened a small position in GME. That’ s not to make a quick buck but just to stand next to lil guys in solidarity. Happy to see my cash disappear
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29 January 2021, 08:45 PM | #99 |
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If you can't answer this question yourself, you should probably not be investing in the first place
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29 January 2021, 09:11 PM | #100 | |
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Isn't being short options on stocks an enormously risky affair and don't Ivy League educated MBAs know this? If their hedge fund investors are wiped out because of misunderstood risk assessment isn't that just part of the process? We go through these "teaching moments" every few years and we should be grateful that this one, while highly visible, is, monetarily, tiny. Yeah, a lot of small speculators will get burned being long GME before it's all over but that could have happened if you owned GE, C, KHC etc. Last edited by cascavel; 29 January 2021 at 09:21 PM.. Reason: correct numbers |
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29 January 2021, 09:30 PM | #101 | |
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The problem with BB is that they don’t make money. I have a difficult time investing in companies that don’t have a clear path to profitability. Yes, many tech companies take years to grow out their business but Blackberry has been at this a long, long time, and they are in a reinventing stage. For me it’s a wait and see story. FWIW the company has a -38% return on equity and the highest analyst price target on the stock is $10.91 - roughly a 65% downside. I’d be careful with this one. |
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29 January 2021, 09:48 PM | #102 |
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GameStop short selling and Reddit
Agreed @ cascaval
There can be additional counter party risks (MF Global) but I doubt this is one of those that will go too far. A few hedge funds (which have already closed positions, gotten capital infusions or both). Citadel? Doubt it. More annoying to hear the media (and threads) salivating over “David vs Goliath,” “sticking it to the man” or “Main Street takes it to Wall Street.” Complete nonsense... I believe it’s naive to think there aren’t institutions on the long side of these trades. If nothing else, the HFT firms are swarming over orders in GME, as well as plenty others. Everyone wanted “free.” But I digress... Last edited by FLGatorM5; 29 January 2021 at 09:51 PM.. Reason: Didn’t quote. |
29 January 2021, 10:35 PM | #103 | |
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29 January 2021, 11:16 PM | #104 | |
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I’d sell now at that profit increase %, but that’s just me. I got in AMC at 6.75, but I sold at $22. That was a big enough jump for me. Sent from my iPhone using Tapatalk |
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29 January 2021, 11:43 PM | #105 | |
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I should have said I think all 3 are very speculative (GME, AMC, BB) but I wanted in on the action and felt BB was the safest bet. Just some fun money |
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29 January 2021, 11:53 PM | #106 | |
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I get that for sure. As long as there’s a buyer for the stock at a higher price than you paid, your golden |
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30 January 2021, 12:01 AM | #107 |
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what is funny is bitcoin's 6,500 move just now is greater than all those stock moves combined. 121 billion in about 6 hours.
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30 January 2021, 12:02 AM | #108 | |
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I agree the GME market cap scale was not a systemic risk to the overall market. It’s like graffiti on rail cars - won’t affect how the trains run. Regulators are the ones who will decide as well as everyone who chooses to “see what they want to see” in this Reddit squeeze. The media shrieking was nauseating Sent from my iPhone using Tapatalk Pro
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30 January 2021, 12:03 AM | #109 | |
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30 January 2021, 12:08 AM | #110 | |
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My understanding was as a FA you couldn’t do this sort of thing. Idk
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30 January 2021, 12:10 AM | #111 | |
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but i doubt he will. telling someone to buy a stock while holding the stock and disclosing it with no ill intent is not an issue for him. however, if i were him i would move and change my name just to avoid all the media and such.
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30 January 2021, 12:11 AM | #112 |
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When all is said and done, the pain will be concentrated on retail investors. This will not have a happy ending.
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30 January 2021, 12:26 AM | #113 | |
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I’m guessing Melvin is completely f’d but I’m not willing to bet on it. Also guessing people will lose confidence in HF across the board.
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30 January 2021, 12:42 AM | #114 |
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Greed trumps common sense on the long term.
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30 January 2021, 12:43 AM | #115 |
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Melvin isn't f'd, its investors are. And its investors are typically public pension funds. As for people losing confidence in HF's across the board? Highly doubt it. LTCM didn't do it, 2008/09 didn't do it, this isn't going to do it either. I mean would you leave Pershing because of what happened to Melvin?
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30 January 2021, 12:47 AM | #116 | |
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Gains will always be chased. HFs aren't going anywhere.
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30 January 2021, 12:51 AM | #117 | |
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End of day - GME is still garbage and worth 10$. You can pump it to $1k, as soon as the top starts selling, ain't no one buying til it hits the bottom. Sooner or later, that time will come (sooner, IMO)
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30 January 2021, 12:51 AM | #118 | |
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A pump and dump federal charge could of securities fraud could arise due to the fact that he held the stock. In those cases, intent can be construed as “should have known”. After all, he was on the opposite side of the short interest. Maybe no incarceration, but the financial penalty (if found guilty) could include confiscation of his gains. Bankruptcy beckons. Feel sorry for the family. Sent from my iPhone using Tapatalk Pro
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30 January 2021, 12:57 AM | #119 | |
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this isnt martin shkrelli.
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30 January 2021, 01:00 AM | #120 | |
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Agreed! I think the big deal will come afterwards, when people start asking "How did we end up in this position?". Even though GameStop is a drop in the financial ocean, I think there is vested interest by HF's involved in 'winning' this trade in order to paint retail as reckless and avoid transparency. |
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