i dont remember. just whatever it was at at market open. now i cant even log on to vanguard
2021 Stock Market
- Thread starter SoapyCy
- Start date
Even though I have some gambling money locked at loaded on RH, I haven't jumped in at all. Seems 50/50 if GME can get to $1,000 like many people claim or if it will go back to $5 where is should be. Will be fascinating to watch.
I do think there is a ton of short term potential with BB, AMC, and other heavily shorted stocks because these "retail investors" are out for blood. That trend is definitely real. But its going to be hella-volatile. But so is the casino.
I do think there is a ton of short term potential with BB, AMC, and other heavily shorted stocks because these "retail investors" are out for blood. That trend is definitely real. But its going to be hella-volatile. But so is the casino.
yes - my GME puts went through! I got some july 21 $125 puts riding on this thing dropping
as this starts to happen to more and more small companies, you'll see fewer companies have massive short bets. Let's be honest, shorting a $5 stock doesn't leave much room for profit but a lot of room for loss.
as this starts to happen to more and more small companies, you'll see fewer companies have massive short bets. Let's be honest, shorting a $5 stock doesn't leave much room for profit but a lot of room for loss.
How the hell? To even buy 1 contract for around that price I'd have to get a $4 put.. Unless you're talking $72x100?
Yeah I'm an idiot, should have just deleted my post.
Good luck, seems like a no brainer to me.
Robinhood Finally Loaded
And My Schwab finally loaded as well:
STONKS ONLY GO UP! WE LIKE THE STOCK! THIS IS NOT ADVICE! THIS IS MY GAMBLING FUND(s) NOT MY IRA OR 401K! DO YOUR OWN DD!
Also ~$4k total cost basis for this. Robinhood was $1k last week.
And My Schwab finally loaded as well:
STONKS ONLY GO UP! WE LIKE THE STOCK! THIS IS NOT ADVICE! THIS IS MY GAMBLING FUND(s) NOT MY IRA OR 401K! DO YOUR OWN DD!
Also ~$4k total cost basis for this. Robinhood was $1k last week.
Now we get to find out if you've got diamonds for hands. GLTU!
Sold my Carnival and Cinemark. Not as meme-friendly as Nokia and AMC. Nokia is a long call that expires in January 2022 and AMC expires in early March. We'll see how long I hold.
I wonder what the SEC thinks about all this. How do you regulate emergent coordination to manipulate stock prices on social media? It's not like there are a couple of rich suits with MBAs that you can haul in for a stern talking to, maybe a slap on the wrist fine, or maybe some jailtime (if you're feeling ambitious) for doing this.
Is it market manipulation when tens of thousands of Internet trolls are doing it?
Plus, the trolls have the argument, "Market manipulation? What are you talking about? I am just buying a stock that I like, and it is not like the four shares that I own are going to somehow corner the market."
I would feel pretty bad right now if I was a hedge fund bro who just lost millions/billions to a subreddit.
Is it market manipulation when tens of thousands of Internet trolls are doing it?
Plus, the trolls have the argument, "Market manipulation? What are you talking about? I am just buying a stock that I like, and it is not like the four shares that I own are going to somehow corner the market."
I would feel pretty bad right now if I was a hedge fund bro who just lost millions/billions to a subreddit.
doesn't manipulation imply some sort of illegal behavior? how is making legal actions to increase a share price illegal? i don't believe there has been fraud committed by anyone either buying or selling GME.
To use a poor analogy, if you and a few buddies decide to slow traffic by driving 45 MPH on the highway, sure it's annoying but the minimum speed limit is 45 MPH. It looks bad but it's not illegal.
Oh, trust me, I don't. I think this is hilarious. This is the most entertaining stock story of the past decade.
Pigs eat. Hogs get slaughtered.
The funny thing about this whole circumstance is it is lending quite a lot of support to the axiom that the cure for capitalism is more capitalism. Hedge funds have made a lot of money off these kinds of practices for a long time, and now it seems the tables have turned somewhat when retail investors can coordinate like this.
What are they saying for a goal on AMC? Price or timing? The GME stuff is too high for my taste right now to do anything. AMC still is low enough that a few shares doesn't tick you off if wrong.
That is what is so funny about this -- there is nothing illegal going on here.
But it is still (collectively) manipulating a stock price.
The degenerates on WSB found a loophole, and they're punishing these hedge funds with it.
