Did you invest in $GME or $AMC?
I think this is a dangerous game that could potentially have adverse consequences for the future of the market.
It’s over. Retail trending apps have now banned the trade. I can close out my positions but can’t buy, so they are in a free fall. Sad turn on what was a fun ride.
Didn’t know about it until everyone was reporting it yesterday. Interested to see what the consequences of this game are.
It's going to be a lot. It's also going to aggravate a ton of people and may bring more to the retail investing table. I wonder if it will make people angry enough to pull money out of the market, or really make a push to punish the establishment.
This whole thing is super interesting to me and I think this could shift a few different ways going forward. Investing could be pretty dangerous for a bit but also really exciting. The people that pushed GME up now know that they have the power to do so, my guess is that they continue to use it and if they keep getting blocked out it will be interesting to see how they respond.
not if they sell off now while it’s still up. That’s why it’s so much BS that the trading has been halted. You can sell and not buy. So as more and more sell off in fear of getting nothing until people have no choice to sell off.
I guarantee that some will hold in rebellion only to be extremely disappointed in the end.
Is this like the gamestop BS?
- Joined
- Feb 27, 2017
- Messages
- 264
- Reaction score
- 129
- Handicap
- 36
It's a house of cards. It will come crashing down and all these people driving the price up will be wondering "what happened?"
Crazy that it can be manipulated so easy and I'm not talking on the investors side. Amazon was really unhappy that GME was being inflated. I'm not a conspiracy guy but dang if this isn't crazy to watch a big company get taken by the little guy and the little guy get shut down but "not" by the big company. I think this was a bad move and will open the eyes of a LOT of people.
SHOWBOAT12
Active member
Robinhood has been a laughing stock in the industry for a long time but to market yourself as the trading platform "for the common man" and then block the ability for their users to trade is an utter joke.
Not an actuary but I think about this in the same way -- unless I knew about the site earlier...
It isn't market manipulation. It's a massive number of retail investors seizing an opportunity where a small number of hedge fund institutions are overexposed and overleveraged. The concept of a "short squeeze" isn't anything new, this wasn't invented by Reddit users in 2021.
What's crazy about all of this is Robinhood blocking the trading of AMC, Nokia, Gamestop, and the other targeted stocks. Robinhood has such a low threshold to be allowed to trade options but I'm supposed to believe they want to protect investors by not allowing trades on those stocks. It is insanity.
So I googled it, it is that gamestop BS. You know what gamestop reminds me of? Blockbuster video.
I thought gamestop was on the verge of bankruptcy until covid hit and then sales went up a little.
When video game companies start selling consoles that are digital only, like the ps5 and xbox x this year, everything will go digital very soon.
In return gamestop goes away.
I thought gamestop was on the verge of bankruptcy until covid hit and then sales went up a little.
When video game companies start selling consoles that are digital only, like the ps5 and xbox x this year, everything will go digital very soon.
In return gamestop goes away.
This is 100% manipulation. This may not be nefarious in nature from the reddit guys. But this is manipulation. The hedge fund groups were banking on them tanking and these guys drove it up.
- Staff
- #19
I missed Game Stop but got AMC & NOK...
- Staff
- #20
It’s a crowd sourced pump & dump... The Hedge Funds do it all the time...
I readily admit I'm not fully understanding of the situation. So if I understand right, a large hedge fund shorted a GME expecting it to drop. These Reddit guys got wind of their shorted position and started driving the price up so that when the hedge fund's call option was up they'd have to buy back at that inflated price. And now they've shut down any buying, effectively saving the arses of the hedge fund? Seems pretty shady to me.
SHOWBOAT12
Active member
It is not manipulation, sorry. GameStop had short positions equal to 140% of GameStop's float. If anything this is a lesson in risk management and a case study on the Wild Wild West of hedge funds in America -- again, some not all.
It's complete BS if congress passes something to bail this hedgefund out. It's a free market, Melvin capital chose to short sell what they didn't have, I'm happy for the people that are now screwing them back.
This is something I'd gladly see a riot over!
This is something I'd gladly see a riot over!
- Joined
- Sep 11, 2013
- Messages
- 74,708
- Reaction score
- 88,212
- Location
- Ponte Vedra, Florida
- Handicap
- 11.9
Nope missed out.
I've heard a lot of chatter that finally the lower and middle class are fighting back at the mega wealthy hedge fund managers. And while that may be true, I'm guessing only 5-10% are going to truly profit off of this (with a few getting rich) while the rest will end up way worse off than they started when this thing crashes down. So all it does is add a few people to the wealthy group and send the majority who may not be able to afford it into worse shape. Sounds like a ponzi scheme to me!