Stocks - The Best Buys 2

[doublej_23]

Originally Posted by Weitz

I had some friends who don’t trade message me asking how they could get in on this.... I told them you don’t. If you don’t know what you’re doing you don’t get in on this. I still feel like a lot of people are going to lose a lot of money.

It's one thing to take some extra cash and essentially gamble it on a couple stocks. The people on WSB that are liquidating assets and using their rent/food money could be in for a rude awakening. I hope it works out for them but I won't touch existing savings or basic necessity money for a hope and a prayer on the stock market.

[TherapyforGlencross]

Robinhood disallows the buying of GME and AMC stock.

[Cecil Terwilliger]

nm

[Bonded]

Originally Posted by TherapyforGlencross

Robinhood disallows the buying of GME and AMC stock.

Yup, I mean it made no sense but most retail brokers allowed the retail from continue to squeeze the shorts. Let big money adjust their positions.

[Weitz]

Originally Posted by doublej_23

It's one thing to take some extra cash and essentially gamble it on a couple stocks. The people on WSB that are liquidating assets and using their rent/food money could be in for a rude awakening. I hope it works out for them but I won't touch existing savings or basic necessity money for a hope and a prayer on the stock market.

Exactly. I used some fun money to make some here.. But nothing that I would blink at if something happened and it was lost.

[Weitz]

Originally Posted by TherapyforGlencross

Robinhood disallows the buying of GME and AMC stock.

Allegedly Robinhood does 60% of the trading for Citadel which bailed out Melvin Capital (one of the big shorts on GME).

[Table 5]

Take from the poor, halt for the rich!

[Jason14h]

And here comes the plummet

[burn_this_city]

WSB was always a place to go a brag about blowing up your account. Some of the stuff I saw on there in March/April was madness. People yoloing on SPY puts with their whole account ect. Some showed graphs that had them down 1/2 million or more.

The real market manipulation is happening today, telling people they can't buy something seems antithetical to the entire purpose of the stock market.

[CalgaryFan1988]

Reddit users will just find another stock to manipulate, to prove their point.

When you find out, let me know which one.

[Senator Clay Davis]

Originally Posted by burn_this_city

WSB was always a place to go a brag about blowing up your account. Some of the stuff I saw on there in March/April was madness. People yoloing on SPY puts with their whole account ect. Some showed graphs that had them down 1/2 million or more.

The real market manipulation is happening today, telling people they can't buy something seems antithetical to the entire purpose of the stock market.

WSB is basically a degenerate gambler support group. Whatever windfalls they are making on this will be lost in short order, quite proudly I imagine.

[Johnny Makarov]

So if you aren't allowed to buy, who are all these sellers selling to?

Institutions?

[Wormius]

Originally Posted by Johnny Makarov

So if you aren't allowed to buy, who are all these sellers selling to?

Institutions?

People who don’t use Robinhood, I suspect.

Looks like GME is on its decline now.

[Krovikan]

What's missed in all of this, is by just talking about "Institutions" and "Hedge funds", people are missing out on who hitting those places affects, the average person. A lot (not all) of these places support pensions, retirement savings, and people's life savings. These institutions aren't playing with their own money most of the time. And this isn't saying WSB is solely responsible, most of the blame lays out to the managers that shorted a stock more than 100%; honest, I think over 40% of a stock being shortened is probably a very bad thing.

The government has an interest in a stable market place, as it can cause ripple effects in the economy, I think in the short-term stopping this action is probably a good thing. I also think that in the long-term rules on shorting need to come in to prevent a single institution from over shorting a stock.

[Cecil Terwilliger]

Was fun while it lasted.

But I can't help but wonder if they'll just do it again when trading resumes.

[Weitz]

Originally Posted by Cecil Terwilliger

Was fun while it lasted.

But I can't help but wonder if they'll just do it again when trading resumes.

While it was started by Reddit and co, it was driven by institutional investors from what I have heard. So probably not?

[J pold]

I'm holding everything.

[Iggy_12]

Originally Posted by Cecil Terwilliger

Was fun while it lasted.

But I can't help but wonder if they'll just do it again when trading resumes.

Will they be able to trade again? I imagine if they open these again same thing will happen then shut down again

[Johnny Makarov]

Originally Posted by Wormius

People who don’t use Robinhood, I suspect.

Looks like GME is on its decline now.

It looks like all the big brokerages halted the buying though.

Wow GME dropped $30 in 30 seconds right before they halted it.

[Fuzz]

Today, the low is current...


Open265.00
High483.00
Low153.00