Fascinating !! I missed out on Gamestop but I hit on AMC 2 days ago. Up 370% and counting in the premarket
Drinks are on me. Dang, wish I would have bought more .... isn't that always the case !!!
I still don't understand how the entire Squeeze the Short Sellers works but this just makes one realize how manipulative the market can be when a group of investors can totally change the landscape of their targeted companies. I may just sell everything, take profits and a deep breath, and regroup.
What is happening in the market is not investing, it's gambling.
Pretty much --- apparently there is a reddit group of wealth investors that are seeking companies with a large number of short sellers ..... those investors take a huge loss but have to double down and buy shares at the higher price in attempt to offset their losses so it creates a buy demand
It's all happening on r/wallstreetbets
(01-27-2021, 10:26 AM)jagibelieve Wrote: [ -> ]What is happening in the market is not investing, it's gambling.
Ditto. A fool and his money are soon parted. Most people would do best if they just bought an index fund and forgot about it for 20 years.
So how does this work? Wait for the next targeted shorted stock then jump in? What happens to the people who are stuck holding $500 a share GME stock at the end that nobody wants to buy?
I got in on GME.
(01-27-2021, 12:35 PM)Bchbunnie4 Wrote: [ -> ]I got in on GME.
Congrats !!! I almost pulled the trigger on GME the other day but it was already up 200% so I bought ZNGA, which is doing nothing. I then bought AMC after CNBC was promoting it after they got a loan infusion.
Never realized that I should have also added Blackberry to my portfolio. What a whacked out year (from last March to this January). This is so distant from Main Street.
(01-27-2021, 11:48 AM)The Real Marty Wrote: [ -> ] (01-27-2021, 10:26 AM)jagibelieve Wrote: [ -> ]What is happening in the market is not investing, it's gambling.
Ditto. A fool and his money are soon parted. Most people would do best if they just bought an index fund and forgot about it for 20 years.
Every financial investment is a gamble. Those with greater potential rewards come with greater risks.
This is my profound thought for the day.
(01-27-2021, 01:37 PM)HURRICANE!!! Wrote: [ -> ] (01-27-2021, 12:35 PM)Bchbunnie4 Wrote: [ -> ]I got in on GME.
Congrats !!! I almost pulled the trigger on GME the other day but it was already up 200% so I bought ZNGA, which is doing nothing. I then bought AMC after CNBC was promoting it after they got a loan infusion.
Never realized that I should have also added Blackberry to my portfolio. What a whacked out year (from last March to this January). This is so distant from Main Street.
Bought blackberry too!
(01-27-2021, 12:35 PM)Bchbunnie4 Wrote: [ -> ]I got in on GME.
Also, too bad all of those little gamers that work at Gamestop don't get stock options as part of their hourly rate. Just imagine all of those Fortnight junkies that don't go to bed until 5am walking around with $500,000 in profits.
(01-27-2021, 01:58 PM)Bchbunnie4 Wrote: [ -> ] (01-27-2021, 01:37 PM)HURRICANE!!! Wrote: [ -> ]Congrats !!! I almost pulled the trigger on GME the other day but it was already up 200% so I bought ZNGA, which is doing nothing. I then bought AMC after CNBC was promoting it after they got a loan infusion.
Never realized that I should have also added Blackberry to my portfolio. What a whacked out year (from last March to this January). This is so distant from Main Street.
Bought blackberry too!
[BLEEP] !!! Nobody buys Blackberry except for those Math wizards in Reddit and perhaps Hilary Clinton (LOL).
..... CNBC was talking about it last week but I passed on that as well. Another HUGE Congrats to you
![[Image: 103706015-AP_16147060028688.jpg?v=152947...=678&h=381]](https://image.cnbcfm.com/api/v1/image/103706015-AP_16147060028688.jpg?v=1529471806&w=678&h=381)
I would dump any of those if I was holding them right now. What is going on is pretty dangerous in my opinion. Think back to the dot-com bubble.
(01-27-2021, 02:18 PM)jagibelieve Wrote: [ -> ]I would dump any of those if I was holding them right now. What is going on is pretty dangerous in my opinion. Think back to the dot-com bubble.
I sold off enough to cover my original buy in so everything else is just cake. If I lose it all at this point, it will suck, but it won’t hurt.
(01-27-2021, 02:29 PM)Bchbunnie4 Wrote: [ -> ] (01-27-2021, 02:18 PM)jagibelieve Wrote: [ -> ]I would dump any of those if I was holding them right now. What is going on is pretty dangerous in my opinion. Think back to the dot-com bubble.
I sold off enough to cover my original buy in so everything else is just cake. If I lose it all at this point, it will suck, but it won’t hurt.
I did the same.
#BidensAmerica --- Gamestop, AMC, and Blackberry are back !!!! lol
(01-27-2021, 02:13 PM)Bchbunnie4 Wrote: [ -> ]I also won $50 on a scratch off lotto ticket my mom gave me for Xmas that I’d forgotten all about. It’s my week! .gif "Laughing")
Those dang scratch offs always get my table dirty then i get yelled at for wiping the glitter dust on to the floor ... spend $10, win $6, invest the winnings into more scratch offs and win $2, cash in the $2 ticket and buy another $8, win $4 but by $6 more when cashing in ...... it's an endless loop of losses so I only buy those for my 86 year old mom and 92 year old Aunt when I go up to Pittsburgh.
(01-27-2021, 02:29 PM)Bchbunnie4 Wrote: [ -> ] (01-27-2021, 02:18 PM)jagibelieve Wrote: [ -> ]I would dump any of those if I was holding them right now. What is going on is pretty dangerous in my opinion. Think back to the dot-com bubble.
I sold off enough to cover my original buy in so everything else is just cake. If I lose it all at this point, it will suck, but it won’t hurt.
I would dump every bit of it quickly and take whatever profit you might have at this point. They are talking about putting a freeze on trading some of these stocks for 30 days (something I don't agree with).
Also keep in mind that depending on how your trading account is set up you possibly will have to pay brokerage fees and/or capital gains tax.
When all is said and done somebody is going to lose an awful lot of money over this.
I figured we should have a thread to discuss all things stock market related under President Biden in one place. I will merge the other threads into this one.
(01-27-2021, 02:57 PM)jagibelieve Wrote: [ -> ] (01-27-2021, 02:29 PM)Bchbunnie4 Wrote: [ -> ]I sold off enough to cover my original buy in so everything else is just cake. If I lose it all at this point, it will suck, but it won’t hurt.
I would dump every bit of it quickly and take whatever profit you might have at this point. They are talking about putting a freeze on trading some of these stocks for 30 days (something I don't agree with).
Also keep in mind that depending on how your trading account is set up you possibly will have to pay brokerage fees and/or capital gains tax.
When all is said and done somebody is going to lose an awful lot of money over this.
I totally agree. Unfortunately for me, a portion of my investment has not been "settled" as I sold my share of Norwegian Cruise Lines to buy AMC on Monday. It takes a few days for the amounts to settle so I plan on selling the rest of my shares 1st thing Thursday morning @ 9:30am when the market opens. I just need for AMC to hold on overnight.
Sears is the next big one?