Did you invest in $GME or $AMC?

[smgoldstein]

My 18 year old son is interested in the market, opened up a Robinhood account, and we each kicked in a small amount of money, $500 each. Gives him a chance to learn. I see him now watching the news or reading the papers instead of playjng video games. He's had his winners and losers but overall is about even.

 

[SHOWBOAT12]

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!

They won't need a bailout from the government. The financial services industry is coming together to stop this in its tracks (for now). The big retail shops are blocking the purchase of specific tickers and only allowing their sale. If the "common man" sells, these shares will decrease in value.

Let's not forget there are also hedge funds making a ton of money off this activity (i.e., buying short now).

 

[Qwkz51]

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!

I really think this will wake some people up that the game is stacked against them. It's like casinos, sure they'll let you win occasionally but the house always wins. When you win, it's because they are letting you win. Not because you actually won.

 

[TCB2010]

They won't need a bailout from the government. The financial services industry is coming together to stop this in its tracks (for now). The big retail shops are blocking the purchase of specific tickers and only allowing their sale. If the "common man" sells, these shares will decrease in value.

Let's not forget there are also hedge funds making a ton of money off this activity (i.e., buying short now).

BS its to the white house as of today!

 

[Templet0n]

It’s a crowd sourced pump & dump... The Hedge Funds do it all the time...

I understand that.. I am simply saying that this is artificial and has no bearing on real value. It was also very easily done. This is small scale, but it to me is a bit scary how easily it was done. Thats all

 

[NeverWiff]

What's all the fuss about...?? of course this is gonna happen.... it's right in the name... Robinhood.... these guys are using it to take from the rich (the hedge funds who are now being squeezed big time) and giving to that "poor" (those of us who don't own a hedge fund)

 

[jdtox]

I know little to nothing about stocks, my 16 year old son was telling me about this last night, pure craziness.

 

[KingsKraken]

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.

That‘s kind of the whole point behind the drive to buy. Hedge funds shorted GME because it’s going down the pooper with the shift from brick and mortar retail to digital. WallStreetBets (a forum on Reddit) is trying to pump the price to do major damage to those hedge funds. A whole lot of those investors will get hurt too when the price eventually drops, but WallStreetBets has never been about making sound investments.

 

[BigDill]

I understand that.. I am simply saying that this is artificial and has no bearing on real value. It was also very easily done. This is small scale, but it to me is a bit scary how easily it was done. Thats all

It’s only artificial in the sense that the stock price exceeds the actual liquidation value of the company. Just like Apple and Tesla. Is investing in those something that is done with no bearing on value? Nokia has solid financials. Short sellers nonetheless pushed it down.

The solution here is to limit short positions. Why can someone agree to sell more than 100% of a stick at a time in the future? And if so, how is that not just as risky as me using robinhood to buy a stock? Instead, Robinhood was bullied into creating a huge supply surplus. That was market manipulation, plain and simple.

 

[KingsKraken]

I did not jump on this crazy train. I’ve just been happy that my buy/hold Canadian marijuana stock finally went back above my buy price a few days ago.

I’m surprised it took this long for trading to be halted, and not even by the SEC.

 

[BigDill]

As to the Reddit folks, what is being missed here is that many of them are only investing a few hundred or thousand. Some are way more, but most are working class popping in some pacycheck money. We are not talking about a pension being defunded here. Life will go on.

But what this has shown is that the rules of the game can be changed mid-stream and without governmental intervention or laws. And that should scare everyone, and will leave to erosion of confidence in the market.

 

[SHOWBOAT12]

It’s only artificial in the sense that the stock price exceeds the actual liquidation value of the company. Just like Apple and Tesla. Is investing in those something that is done with no bearing on value? Nokia has solid financials. Short sellers nonetheless pushed it down.

The solution here is to limit short positions. Why can someone agree to sell more than 100% of a stick at a time in the future? And if so, how is that not just as risky as me using robinhood to buy a stock? Instead, Robinhood was bullied into creating a huge supply surplus. That was market manipulation, plain and simple.

As to the Reddit folks, what is being missed here is that many of them are only investing a few hundred or thousand. Some are way more, but most are working class popping in some pacycheck money. We are not talking about a pension being defunded here. Life will go on.

But what this has shown is that the rules of the game can be changed mid-stream and without governmental intervention or laws. And that should scare everyone, and will leave to erosion of confidence in the market.

This guy gets it.

 

[KingsKraken]

It’s only artificial in the sense that the stock price exceeds the actual liquidation value of the company. Just like Apple and Tesla. Is investing in those something that is done with no bearing on value? Nokia has solid financials. Short sellers nonetheless pushed it down.

The solution here is to limit short positions. Why can someone agree to sell more than 100% of a stick at a time in the future? And if so, how is that not just as risky as me using robinhood to buy a stock? Instead, Robinhood was bullied into creating a huge supply surplus. That was market manipulation, plain and simple.

This is exactly right. TSLA‘s P/E is 1600+. People are not investing in it based on its liquidation value. They’re betting on future earnings.

I can’t even find a P/E for GME today. Every ticker I’ve looked at shows it as “N/A” or similar.

 

[Afizzle2100]

That‘s kind of the whole point behind the drive to buy. Hedge funds shorted GME because it’s going down the pooper with the shift from brick and mortar retail to digital. WallStreetBets (a forum on Reddit) is trying to pump the price to do major damage to those hedge funds. A whole lot of those investors will get hurt too when the price eventually drops, but WallStreetBets has never been about making sound investments.

I think this is something people don’t understand. If people are able to navigate reddit and follow along the journey, those people would realize this was less about making money and more about wrecking stock market hedge funds. These are people that normally are dumping into crypto and trying to drive the price up of that.

the community right now are in a frenzy and telling everyone to hold their stock and don’t let “them” win. They want to make GameStop a Fortune 500 company. There are several brainwashed people who will take severe losses however these redditors don’t care. Just like the joker said in Batman, “some men just want to watch the world burn”.

 

[MWard]

What’s going to be amusing to me is when another big hedge fund gets sneaky and shorts the hell out of GameStop stock at its current value when they can. They’ll be tripping over themselves laughing.

 

[BuckNasty]

What’s going to be amusing to me is when another big hedge fund gets sneaky and shorts the hell out of GameStop stock at its current value when they can. They’ll be tripping over themselves laughing.

Im sure they are all doing that, short exposure to float is still hovering around 140%

 

[KingsKraken]

If people are able to navigate reddit and follow along the journey, those people would realize this was less about making money and more about wrecking stock market hedge funds.

Here’s the link to WallStreetBets for anyone who doesn’t know how to find it on Reddit. It’s plain as day that this about the little guy sticking it to the big guy.

r/wallstreetbets

r/wallstreetbets: Like 4chan found a Bloomberg Terminal

www.reddit.com

 

[SHOWBOAT12]

What’s going to be amusing to me is when another big hedge fund gets sneaky and shorts the hell out of GameStop stock at its current value when they can. They’ll be tripping over themselves laughing.

They already have -- lot of other funds making a ton of money riding this wave.

 

[lockstockrye]

The funny thing is I opened a RH account and got GME stock free, back when it was 5ish. I sold Tuesday!

 

[JDax]

I understand that.. I am simply saying that this is artificial and has no bearing on real value. It was also very easily done. This is small scale, but it to me is a bit scary how easily it was done. Thats all

It’s not just a crowd sourced pump and dump, it’s also a crowd sourced short squeeze & that is why the Hedge Fund guys are in panic.

But these are the same people that tanked the economy in 2008 with mortgage backed derivatives, so let them go build solar panels or something....

 

[DataDude]

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.

You can see shares short% on any financial website. That is not hard to find out. Gamestop has one of the largest shares short positions out there. They just put a short squeeze on the institutions who sold the shares short.

 

[Templet0n]

It’s not just a crowd sourced pump and dump, it’s also a crowd sourced short squeeze & that is why the Hedge Fund guys are in panic.

But these are the same people that tanked the economy in 2008 with mortgage backed derivatives, so let them go build solar panels or something....

I dont feel sorry for them in the slightest. It is more of a glaring system issue that I see as the problem..

 

[JDax]

I think this is something people don’t understand. If people are able to navigate reddit and follow along the journey, those people would realize this was less about making money and more about wrecking stock market hedge funds. These are people that normally are dumping into crypto and trying to drive the price up of that.

the community right now are in a frenzy and telling everyone to hold their stock and don’t let “them” win. They want to make GameStop a Fortune 500 company. There are several brainwashed people who will take severe losses however these redditors don’t care. Just like the joker said in Batman, “some men just want to watch the world burn”.

If they really wanted to watch the world burn, they would run up Silver.

 

[RealPretendPsychic]

Anybody trying to catch a falling knife?

 

[Desmond]

Just read that American Airlines is their next targeted company