Did you invest in $GME or $AMC?

Did you invest in either GME or AMC before it's immense rise?

  • Yes

    Votes: 17 22.1%
  • No

    Votes: 49 63.6%
  • No time for that - I'm playing golf!

    Votes: 11 14.3%

  • Total voters
    77

BigDill

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I don't get the surprise at this. Literally the first thing I thought when I read about this whole thing was, "Well now the price is artificially high, they can double down knowing it will assuredly fall harder than the original speculative fall." I mean, I'm an idiot and I saw this a mile away. Now don't get me wrong, had I known about it a couple days ago, I would have thrown down and cashed out, but this outrage that the funds are now doing the same thing that they were trying to "avenge" is silly.
First of all, why don't you call me anymore? It's like I don't know you.

Second, I don't think the surprise was that the shorts had this plan. What was surprising is that they way they did it was to literally stop the retail guys from buying so that the price artificially fell. It was a blatant stick up to weaken the retail position and create supply. There will be lawsuits (already filed) and fines, but it won't put the genie back in the bottle. The penalties can exceed $1B, likely more, and it will still be the lesser of the two possible losses.
 

RealPretendPsychic

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I’m trying to hop on DOGE coin ASAP
I understand cryptocurrency even less than I understand why my drive goes perfectly straight after snap-hooking one on the previous hole then slicing my next drive OB and hitting 3 from the tee.
 

Greg Kulbick

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Guy In Lyon

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I explained why it isn't. Can you at least offer an explanation as to why you think it is?
You explanation was severely lacking.
The entire concept of the redditers messing with the "big boys of wall street" is based on stock manipulation.
It's the redditers' manipulation against the Wall Street short sellers and, for the moment, the redditers are winning.
Similar to the manipulation that the big boys have been engaged in for decades, if not a century or more.
But it will all come crashing down, with many, many people losing money, particularly those small traders that have tried to game futures market.
 

Afizzle2100

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I understand cryptocurrency even less than I understand why my drive goes perfectly straight after snap-hooking one on the previous hole then slicing my next drive OB and hitting 3 from the tee.
Lol I don’t get it either, I just know there is an angry mob of people who are looking to invest money and I’m trying to beat them to the next spot :ROFLMAO:

However it was .07 a share and it’s currently .24. That’s $1750 of profit on $500 principle. These people want to pour their money somewhere and this whole thing may have just been an indirect advertisement for why investing in crypto currency that the government can’t control.
 

TMAdidas

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I'm not in any of these stocks, so I have no profit motive for saying this: There better be a lot of fines and/or jail time for Robinhood and hedge fund execs for market manipulation today.
 

jazi95

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blugold

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I'm not in any of these stocks, so I have no profit motive for saying this: There better be a lot of fines and/or jail time for Robinhood and hedge fund execs for market manipulation today.
spoiler alert...
 

SHOWBOAT12

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You explanation was severely lacking.
The entire concept of the redditers messing with the "big boys of wall street" is based on stock manipulation.
It's the redditers' manipulation against the Wall Street short sellers and, for the moment, the redditers are winning.
Similar to the manipulation that the big boys have been engaged in for decades, if not a century or more.
But it will all come crashing down, with many, many people losing money, particularly those small traders that have tried to game futures market.
Lacking is acceptable, we can always go deeper. I like to think a starting point is better than nothing at all.

Identifying a ticker that has been shorted at an unprecedented level (i.e., 140% of the total number of shares available for trading) is a market opportunity. You need the volume to force the short sellers to cover their losses. In this case that volume came from hundreds of thousands if not millions of small retail investors vs. the traditional firms who invented the short squeeze. When the short sellers buy to cover their losses, the price of the stock continues to trend upwards. Someone will be left holding the bag (as they always are) but posting on a message board "these guys are overleveraged, let's buy and hold" is hardly manipulation -- it's the facts. This is not an attempt to mislead and therefore; nothing deceitful or dishonest about it.

Better examples of manipulation would be the CEO of a large company Tweeting "the stock is overpriced imo", rumors to drive price, stock bashing, churning, etc. These guys aren't suggesting that the entire world is going back to disc-based gaming or everyone is chomping at the bit to stand in line for the next midnight release of Madden.
 

BigDill

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If anyone is watching CNBC right now, Dan Niles is on trying to convince people that (a) losing all of your investment is actually a good thing because the next time you enter the market, you will be more careful and more of a long term investor (he is a short seller) and (2) that we should embrace that the stock went up and down because it provides entertainment value for investors at a time when COVID restricts us. I am not sure if this is a comedy or a tragedy.
 

thewilderside

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My guess is that the majority of folks that trade through Robinhood and other apps, and particularly in these go-go names, couldn't give you any fundamental analysis of the underling business. And its ok to bet against the economy too. The market needs speculators also.

The hedge funds are big boys and know the risk and sometimes even get it right like Enron and Lehman and sometimes lose like Herbalife and TSLA. I just don't have a lot sympathy for John Doe who gets burned gambling and then complains that regulatory action needs to take place. The brokers who are peddling these type stocks as a way to get rich just to get a commission-well that's another story.
If I understand correctly the hedge fund big boys were about to get burned by a bunch of John Doe's and they pulled strings (reportedly) as high up as to the White House to get things shut down so they wouldn't get burned. That's where the issues is imo, as a "John Doe" (no I'm not invested though) no one cares if I'm going to take a big loss. The fact that these guys who "know the risk" can make phone calls to save their arses when they're in trouble seems problematic to me.
 

xThor

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I bought in with a couple hundred on each, but only recently, so haven’t seen a huge return. That said, I’m happy with throwing money into this, and am really enjoying a free market.

I hope they keep it a true free market.
 

Reframmellator

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If there's no downside to taking a risk, there's nothing to stop you from taking more risks.
 

ShanksaloT

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BigDill

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This was my personal favorite tweet on the subject today:
 

Agent Jay

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YES! Do it! up 30ish% today alone on my original investment.
I'm up 10% since I posted I bought it....at $0.0217.....I'd love it to get up to $0.50!
 

RealPretendPsychic

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I have some coins at home in a jar and a bunch more in a drawer. Currently looking for early investors for RPPcoin. Is this how ‘To The Moon’ starts?
 

BuckNasty

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Take a look at GBR, which appears to be today’s GME
 

DataDude

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Rumors going around that hedge funds tied to Robinhood ownership took short positions before Robinhood halted trading. This could get really interesting.
 

etakmit

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This is actually really scary that the market can be manipulated so easily..
This is how the market is often manipulated in favor of the institutions playing in the market. I really really enjoyed seeing the retail world step up and make it clear that there are different rules and that isn't cool
 

MattyD-MPLS

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It is still nearly double what it was worth for the last 5 years. Someone from Robinhood App posted that the WhiteHouse called to put a stop to the madness.
 

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