anyone following the GME saga?

[agent006140]

42 week high is $483,closed at $313 on Friday.
I hope no retail investor bought it at 483 ?
They are going thru a list of low price zombie stocks and see which one is next?
Sears Roebuck Co,anyone

[JamesNorth101]

Yep been investing in it since last Friday

Its been a rollercoaster!

[magina]

nah, i won't be surprised it'll be go back to garbage as like before. It's gambling.

[rsot]

Quite a bunch of us made money off of it - whether ppl were in it for the principle of the movement or just to make fast cash

[JamesNorth101]

Originally Posted by magina

nah, i won't be surprised it'll be go back to garbage as like before. It's gambling.

It’s a movement. Nothing to do with the money really

[magina]

Originally Posted by JamesNorth101

It’s a movement. Nothing to do with the money really

my friend in the US already cashed out his $25K gain. I dont know why others are so blind with this drama. They'll get poorer

[JamesNorth101]

Originally Posted by magina

my friend in the US already cashed out his $25K gain. I dont know why others are so blind with this drama. They'll get poorer

It’s about how rigged the system is.

As soon as the hedge funds start to loose money the lock down the ability for people to buy stock until they can limit their losses, all while preaching about how great the free market it. It’s hypocrisy and a lot of people are pretty tired of it.

Besides I just really like the stock

[james_112233]

Best place for me to buy and sell stock in the UK ? I've never tried it but want to dabble. Or if someone can link me to a youtube "how to for dummies" that would be great.

[rsot]

Originally Posted by JamesNorth101

It’s about how rigged the system is.

As soon as the hedge funds start to loose money the lock down the ability for people to buy stock until they can limit their losses, all while preaching about how great the free market it. It’s hypocrisy and a lot of people are pretty tired of it.

Besides I just really like the stock

Hah too true

[JamesNorth101]

Originally Posted by james_112233

Best place for me to buy and sell stock in the UK ? I've never tried it but want to dabble. Or if someone can link me to a youtube "how to for dummies" that would be great.

It really depends on what you want to buy if you want to buy GME, AMC, NOK or BB or any of the stuff that is currently been blocked from purchase because the hedge funds no longer want you to buy it because it costs them too much money then I would use Fidelity or webull

If you don’t want to double in those particular stops then trading212 is very good

[magina]

Originally Posted by JamesNorth101

It really depends on what you want to buy if you want to buy GME, AMC, NOK or BB or any of the stuff that is currently been blocked from purchase because the hedge funds no longer want you to buy it because it costs them too much money then I would use Fidelity or webull

If you don’t want to double in those particular stops then trading212 is very good

How many GME and AMC stocks did you buy? I just can't get it why it's going crazy now. i shouldve bought it when my friend told me to do so. But i don't really gamble.

[phaz0rz]

Silver is now a part of all this drama somehow. APMEX has quit taking orders for silver temporarily. I hope it skyrockets. I bought a few 10oz bars on a whim last year.

I just can't get it why it's going crazy now.

It's going crazy right now because retail investors are teaming up to stick it to hedge fund managers on wall street, who'd bet massive amounts of money for Gamestop to fail. Now instead of failing, Gamestop is a $10bil company, on paper, lol. It's literally all hype from reddit and other parts of the internet.. but it's working.

[JamesNorth101]

Originally Posted by magina

How many GME and AMC stocks did you buy? I just can't get it why it's going crazy now. i shouldve bought it when my friend told me to do so. But i don't really gamble.

I have a quite few.

It’s going crazy because it is being used as a mechanism to get back at the hedge funds. People are up in arms about the fact that when hedge funds were losing money and ordinary retail investors were making money the hedge funds had the power to just shut the system down to stop themselves losing any money. All while preaching about how they were doing it for the best interest of the ordinary investor and telling everyone how wonderful the free market is.

For each $12 the shares in GME go up the hedge funds lose approximately $1 billion

[phaz0rz]

There may be millions of counterfeit shares involved in all this, which according to reddit would explain why wall street took the strange move of restricting $GME trading.

http://www.reddit.com/r/wallstreetbe...rified_of_the/



Anyway, have fun guys. I signed up for etrade too late to get in on this. It was fun riding bitcoin up again but this ride wasn't for me.

[JamesNorth101]

Originally Posted by phaz0rz

There may be millions of counterfeit shares involved in all this, which according to reddit would explain why wall street took the strange move of restricting $GME trading.

http://www.reddit.com/r/wallstreetbe...rified_of_the/



Anyway, have fun guys. I signed up for etrade too late to get in on this. It was fun riding bitcoin up again but this ride wasn't for me.

Yep they are called naked shares and it is when a hedge fund short sells a company with shares they’ve not even been able to borrow they’ve just sold something they don’t have whatsoever and the issue that they now find themselves with is some point the person they have sold that share to actually will want their share and therefore the hedge fund has to go and buy the share at market price which is what causes the losses for the hedge funds.

In this case however it’s even worse because they have sold more shares the actually exist and were banking on the company going bankrupt so that they would never actually have to return any of the borrowed shares or provide any of the sold shares. Without the company going bankrupt the entire thing blows up in their face which is exactly what happened

[magina]

Originally Posted by phaz0rz

There may be millions of counterfeit shares involved in all this, which according to reddit would explain why wall street took the strange move of restricting $GME trading.

http://www.reddit.com/r/wallstreetbe...rified_of_the/



Anyway, have fun guys. I signed up for etrade too late to get in on this. It was fun riding bitcoin up again but this ride wasn't for me.

same haha i have no balls with this kind of gambling. my friend tho is very happy with his $25K gains. And he's not done yet. He even forced me to buy DOGE coins and it will also sky rocket anytime soon.

[JamesNorth101]

Originally Posted by magina

same haha i have no balls with this kind of gambling. my friend tho is very happy with his $25K gains. And he's not done yet. He even forced me to buy DOGE coins and it will also sky rocket anytime soon.

Bear in mind that is an organised a pump and dump so it will skyrocket and then the pump is will dump their stock and the price will plummet again

[phaz0rz]

What I'm curious about at this point : Wasn't Friday the day the hedge funds' short position was supposed to expire? All last week I was hearing that on Friday the hedge funds would be forced to buy all these shares back from retail investors at the current market price.. which is why the price skyrocketed in the first place.

Now that Friday has come and gone... what comes next?

[phaz0rz]

Originally Posted by magina

same haha i have no balls with this kind of gambling. my friend tho is very happy with his $25K gains. And he's not done yet. He even forced me to buy DOGE coins and it will also sky rocket anytime soon.

Please please please don't invest any real money on Doge. It's a meme coin with zero value.

[sax4]

Originally Posted by magina

same haha i have no balls with this kind of gambling. my friend tho is very happy with his $25K gains. And he's not done yet. He even forced me to buy DOGE coins and it will also sky rocket anytime soon.

It's natural that someone called "Mangina" should have no balls

[sax4]

I will give DGE a punt tomorrow

[magina]

Originally Posted by sax4

It's natural that someone called "Mangina" should have no balls

It's my favorite hero in dota2 https://dota2.gamepedia.com/Anti-Mage