Carl Sagan Posted January 28, 2021 Share Posted January 28, 2021 I'm fascinated by this. The financial system is set up to favour the institutions against the people so it's lovely to see the people fight back. My (very limited) understanding is that the shorts of the hedge fund in question mature tomorrow, but that might be wrong. Reddit is urging the people to stay strong and not to sell the stock, and this in theory could bankrupt the hedge fund (which was trying to bankrupt the games outlet whose stock this is about). It reminds me of the early stages of Pretty Woman! I bought some stock as an experiment. But just for fun, which is what this particular reddit is about. Like cryptocurrency, presume you're going to lose it all and anything else is a bonus! BTW - this is not financial advice, just my philosophy! Link to comment Share on other sites More sharing options...
Stive Pesley Posted January 28, 2021 Share Posted January 28, 2021 12 minutes ago, Carl Sagan said: It reminds me of the early stages of Pretty Woman! It's also very similar to the ending of Trading Places! Link to comment Share on other sites More sharing options...
JuanFloEvraTheCocu'sNesta Posted January 28, 2021 Share Posted January 28, 2021 Absolutely wonderful to see the hedge fund and financial types losing their heads over this. It seems that high risk gambles and market manipulation is only acceptable when it's working in their favour. They are quite happy to see businesses go down the pan to secure their short positions, duck the lot of 'em. On the flip side, this Gamestop bubble will burst, and 'normal' people will lose a lot of money. Some of the crusader types that just want to give the hedge funds a slap can probably afford to lose what they put in. There will be a few bandwagon jumpers that can't. Link to comment Share on other sites More sharing options...
Jubbs Posted January 28, 2021 Share Posted January 28, 2021 49 minutes ago, Carl Sagan said: I bought some stock as an experiment. But just for fun, which is what this particular reddit is about. Like cryptocurrency, presume you're going to lose it all and anything else is a bonus! BTW - this is not financial advice, just my philosophy! Precisely this, go in with something you're prepared and expecting to lose/waste anyway. Exactly what I've done, made £500+ all from the winnings of a £10 bet I won on SkyBet the other week! Just going to continue holding and listen to the people cleverer than me on Reddit who've made tonnes of money so far. A certain user, has made $49m from $55k he invested as a YOLO buy in 2019. Link to comment Share on other sites More sharing options...
Carl Sagan Posted January 28, 2021 Share Posted January 28, 2021 40 minutes ago, Stive Pesley said: It's also very similar to the ending of Trading Places! Indeed! What a movie. Link to comment Share on other sites More sharing options...
Stive Pesley Posted January 28, 2021 Share Posted January 28, 2021 1 minute ago, Jubbs said: A certain user, has made $49m from $55k he invested as a YOLO buy in 2019 Good for him, but i can't imagine many of us would ever have $55k we could afford to play with!! Link to comment Share on other sites More sharing options...
Leicester Ram Posted January 28, 2021 Share Posted January 28, 2021 Put in a small amount to AMC and Nokia yesterday because I love what’s going on. Holding and seeing how it goes, not enough money to bother me if I lost it all tomorrow but I enjoy sticking it to the man. Not sure if people have seen but RobinHood and Trading 212, the two largest apps for retail in U.S and Europe, have stooped users being able to buy GameStop and AMC today. They can only sell. Extremely blatant market manipulation. The hedge fund, Capitol, that bailed out the hedge fund that started all of this by shorting GameStop, Melvin Capitol, handles 60% of RobinHoods trades. You do the maths. Link to comment Share on other sites More sharing options...
Leicester Ram Posted January 28, 2021 Share Posted January 28, 2021 19 hours ago, David said: Just had a little punt on Blackberry, hoping it’s the next to bang ? Link to comment Share on other sites More sharing options...
Angry Ram Posted January 28, 2021 Share Posted January 28, 2021 Is this what’s happening to Game Stop etc? Link to comment Share on other sites More sharing options...
Day Posted January 28, 2021 Share Posted January 28, 2021 1 hour ago, Angry Ram said: Is this what’s happening to Game Stop etc? It is but a lot of brokers have now suspended buying, can sell only so it’s taking a huge hit today. Down 20% at time of writing. Link to comment Share on other sites More sharing options...
Angry Ram Posted January 28, 2021 Share Posted January 28, 2021 29 minutes ago, David said: It is but a lot of brokers have now suspended buying, can sell only so it’s taking a huge hit today. Down 20% at time of writing. ? Yeah got messages today. Link to comment Share on other sites More sharing options...
Day Posted January 28, 2021 Share Posted January 28, 2021 Down 32%. Someone on Reddit had put $200,000 in at close, just hope they could afford it. Some great stories of student and medical bills being paid off, families bailed out of debt, fear there will be a darker side to this where some will have lost a hell of a lot of money. Link to comment Share on other sites More sharing options...
1of4 Posted January 28, 2021 Share Posted January 28, 2021 1 hour ago, David said: It is but a lot of brokers have now suspended buying, can sell only so it’s taking a huge hit today. Down 20% at time of writing. Yep the big boys don't like ordinary people costing them money. Link to comment Share on other sites More sharing options...
Rev Posted January 28, 2021 Share Posted January 28, 2021 33 minutes ago, David said: Down 32%. Someone on Reddit had put $200,000 in at close, just hope they could afford it. Some great stories of student and medical bills being paid off, families bailed out of debt, fear there will be a darker side to this where some will have lost a hell of a lot of money. It's betting now, not investing. They'll be someone who's followed the pack and loses everything. Link to comment Share on other sites More sharing options...
mike93rh Posted January 28, 2021 Share Posted January 28, 2021 By restricting people's ability to buy the dips whilst simultaneously continuing to short the stocks (that they've already shorted to death), hedge funds are doing alright out of today. People will see the decline and figure they've had enough, driving the price down further. It could well just be an attempt to lessen tomorrow's losses. In GME's case they've still borrowed more stock than is available on the market for their shorting purposes, so hopefully people with shares in them will hold throughout this evening - a lot of these short positions are due tomorrow. I put a bit into AMC yesterday for fun, who for the same reasons are down a lot right now. Just got to hold and wait for the hedge funds to come begging for your shares! *not investment advice, barely know what I'm on about* Link to comment Share on other sites More sharing options...
Rams forever Posted January 28, 2021 Share Posted January 28, 2021 Following this with great interest, just shows what people power can do. Link to comment Share on other sites More sharing options...
Sith Happens Posted January 28, 2021 Share Posted January 28, 2021 4 hours ago, Stive Pesley said: It's also very similar to the ending of Trading Places! there was an end ? I only remember Jamie lee curtis boobs. sorry I'm a sexist pig. Link to comment Share on other sites More sharing options...
JuanFloEvraTheCocu'sNesta Posted January 28, 2021 Share Posted January 28, 2021 Shows the duplicitous nature of the stock market. On the one hand its all 'anyone can invest and anyone can make it', on the other its 'if you beat us at our own game we will simply turn the game off until we can swing it back in our favour'. Disgusting really. Link to comment Share on other sites More sharing options...
GboroRam Posted January 28, 2021 Share Posted January 28, 2021 Can somebody explain what the "free" in "free market" means? Link to comment Share on other sites More sharing options...
JuanFloEvraTheCocu'sNesta Posted January 28, 2021 Share Posted January 28, 2021 1 minute ago, GboroRam said: Can somebody explain what the "free" in "free market" means? Ha. Politics is banned, is it not? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.