I sold my shares of AMC. They halted trading 2x today

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I sold my shares of AMC. They halted trading 2x today

It looks trading has been halted for some of these stocks on various platforms. This morning I've seen messages from Robinhood saying stuff like people could only close their positions on this stock, the stock is not available and a technical difficulties message, where Robinhood was down for a bit. The stocks were listed as biggest movers at times today, but they are no longer on that list on the site as well. And now Robinhood is back up and saying they are experiencing "high traffic". It looks like some other trading sites have halted investment in these stocks as well.

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So, dumb question...

When the hedge fund closes their short positions and are out of the picture, what is the benefit of still buying the stock at that point? Seems like the last ones holding the shares would be wiped out when the company files bankruptcy, right?

GameStop in particular is screwed. This is a company that’s been on the brink of death for years, and the nail in the coffin for them will be when senior executives start retiring and cashing out their shares en masse, probably within a week. No one with a significant stake is going to hang around waiting for the bottom to fall out, and when they all walk and sell, Reddit will do the same. RIP GameStop, the first company killed in part by Reddit—but let’s be serious, mostly killed by its own business practices.

I do think it’s hilarious that Pocahontas is trying to bail her hedge fund buddies out of this mess they helped create, despite positioning herself as the champion of the millions of “me too” little guy investors that are now (1.) doing a little too well for her liking and (2.) about to get boned harder than any hedge fund exec when GameStop tanks.

I love the idea of the NYSE being forced to rewrite its own playbook. Love it to death. I’ve never been shy about my views on using the stock market as a key economic indicator, and why its stupid to put so many eggs in that basket. I just hope it doesn’t burn itself to the ground in the process.

And my 401k has increased in value by 30% over the last seven days, so there’s that. I figure I’m about a week tops from pulling half of what I have in small caps and aggressive funds out of there and into more conservative funds focused on large-cap, less risky stocks. Maybe even dump some of it into bonds. I’ve always been good at poker because I have a strong sense of when to GTblankO. That sense is dinging at me.

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So, have any platforms stepped up and allowed the trading of these stocks? This is some NK state control here.

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So, have any platforms stepped up and allowed the trading of these stocks? This is some NK state control here.

Fidelity is still allowing it.

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Dear god...this is the first time I’ve ever agreed with AOC!

https://twitter.com/AOC/status/1354830697459032066?s=20

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https://twitter.com/AOC/status/1354833285386543105?s=20

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What in the Wide Wide World of Sports is agoin' on here???

So, have any platforms stepped up and allowed the trading of these stocks? This is some NK state control here.

Fidelity is still allowing it.

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Dear god...this is the first time I’ve ever agreed with AOC!

https://twitter.com/AOC/status/1354830697459032066?s=20

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https://twitter.com/AOC/status/1354833285386543105?s=20

Haha, this is being discussed in my group chat, but it is hard to take her faux outrage serious when she has not denounced social media's attempt at silencing conservatives.

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This is the message from Merrill Lynch when you log into your account: "Due to recent volatility in certain securities and to reduce risk of market volatility, we will be placing restrictions on certain securities, including increased margin requirements and/or limiting transactions. Game Stop (GME) and AMC Entertainment Holdings (AMC) are now blocked for opening transactions and they have also been moved to a 100% margin requirement for existing positions."

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They turned a battle into an outright war. They can't just block the trading of EVERY shorted stock. This is going to be fun!

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https://media.gab.com/system/media_attac...dbc1e3.jpg

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We have 2 Fidelity accounts (wife and myself).  Hers was not accessible this morning until ~ 10am.  Mine was up and running but they did block AMC on those 2 occasions this morning when it was halted.  I finally said screw it and sold at $14 --- pissed me off b/c i could not sell @ $19 yesterday (unsettled funds) but oh well the near 200% profit in 3 days was nice while it lasted.  It made Nio stock look stable  ..... lol

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They turned a battle into an outright war. They can't just block the trading of EVERY shorted stock. This is going to be fun!

Agree.  I love a few of the guests they had on CNBC today stating hedge fund reps have been screwing people for years and nobody cared.

THE PEOPLE HAVE THE POWER !!!  well, perhaps ..... until Gov comes into play.   I need to get a reddit account --- there is virtually no risk investing in a $5 stock when you see a stampede of investors getting ready to throw $$ into the stock .... worst case scenario it goes back to $5 but you can always pull profits off the top as you go   

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[url=https://emoticoncentral.com/category/monocles][/url]

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What in the Wide Wide World of Sports is agoin' on here???

This is serious enough for a comment from the POTUS. His PS response to it yesterday was that Biden appointed a female secretary to dept of treasury.

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This is serious enough for a comment from the POTUS. His PS response to it yesterday was that Biden appointed a female secretary to dept of treasury.

Well thank god for that. It would really be a tragedy if a white man were in charge right now.

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What in the Wide Wide World of Sports is agoin' on here???

VERY seldom is day trading (gambling) successful.  In my opinion chasing the next "hot stock" is not only a fool's game it's dangerous.  While I disagree with brokerages restricting trades in certain securities, I can somewhat understand why they are doing it.  This kind of speculative trading (gambling) is exactly what caused the dot-com bubble.  A lot of people are going to lose a lot of money doing this, especially since it's become "the new craze".

In the meantime I bought into the small dip that the market took yesterday, but I am watching closely.  The only two stocks that I hold by themselves are Boeing and Micro$oft, both of which I have held nearly a year.  Both have done very well for me and will continue to do well over the long term.

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There are 10 kinds of people in this world.  Those who understand binary and those who don't.

What is happening in the market is not investing, it's gambling.

VERY seldom is day trading (gambling) successful.  In my opinion chasing the next "hot stock" is not only a fool's game it's dangerous.  While I disagree with brokerages restricting trades in certain securities, I can somewhat understand why they are doing it.  This kind of speculative trading (gambling) is exactly what caused the dot-com bubble.  A lot of people are going to lose a lot of money doing this, especially since it's become "the new craze".

In the meantime I bought into the small dip that the market took yesterday, but I am watching closely.  The only two stocks that I hold by themselves are Boeing and Micro$oft, both of which I have held nearly a year.  Both have done very well for me and will continue to do well over the long term.

Do u think these restrictions are really for customer well being?  Or do u think its to maintain institutional control?

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VERY seldom is day trading (gambling) successful.  In my opinion chasing the next "hot stock" is not only a fool's game it's dangerous.  While I disagree with brokerages restricting trades in certain securities, I can somewhat understand why they are doing it.  This kind of speculative trading (gambling) is exactly what caused the dot-com bubble.  A lot of people are going to lose a lot of money doing this, especially since it's become "the new craze".

In the meantime I bought into the small dip that the market took yesterday, but I am watching closely.  The only two stocks that I hold by themselves are Boeing and Micro$oft, both of which I have held nearly a year.  Both have done very well for me and will continue to do well over the long term.

This isn't chasing a stock, this is a concerted effort to set it on fire.

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“An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato

What is happening in the market is not investing, it's gambling.

VERY seldom is day trading (gambling) successful.  In my opinion chasing the next "hot stock" is not only a fool's game it's dangerous.  While I disagree with brokerages restricting trades in certain securities, I can somewhat understand why they are doing it.  This kind of speculative trading (gambling) is exactly what caused the dot-com bubble.  A lot of people are going to lose a lot of money doing this, especially since it's become "the new craze".

In the meantime I bought into the small dip that the market took yesterday, but I am watching closely.  The only two stocks that I hold by themselves are Boeing and Micro$oft, both of which I have held nearly a year.  Both have done very well for me and will continue to do well over the long term.

Do u think these restrictions are really for customer well being?  Or do u think its to maintain institutional control?

Honestly, I think it's a bit of both.

On the one hand I would guess that the vast majority of people involved in this speculative trading don't really know or understand what they are doing.  While some might throw in a couple of hundred or even a couple of thousand dollars that they can afford to lose, others quite possibly are throwing in whatever savings they might have and at the very extreme are using borrowed money.  Buying a stock like Gamestop at say $50 is foolish.  Buying it at $200+ is downright insane.  A lot of people are going to lose a lot of money, so because of this, brokerages one could say are doing it to "protect" their clients.  I personally disagree with it and believe in the "play stupid games win stupid prizes" kind of thing.

On the other hand what we have seen over the last couple of days isn't "normal".  Normally shorted stocks do pay off for the hedge funds and people that do so.  While many liberals tend to attack "greedy" hedge funds, what they fail to realize is that those hedge funds are a large part of many people's 401k's, mutual funds, etc. as well as a source of revenue for many of the larger banks.  A huge loss could potentially take down the whole stock market in a big way.

Again, I don't agree with brokerages restricting trades, but I understand why it was done.

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There are 10 kinds of people in this world.  Those who understand binary and those who don't.

VERY seldom is day trading (gambling) successful.  In my opinion chasing the next "hot stock" is not only a fool's game it's dangerous.  While I disagree with brokerages restricting trades in certain securities, I can somewhat understand why they are doing it.  This kind of speculative trading (gambling) is exactly what caused the dot-com bubble.  A lot of people are going to lose a lot of money doing this, especially since it's become "the new craze".

In the meantime I bought into the small dip that the market took yesterday, but I am watching closely.  The only two stocks that I hold by themselves are Boeing and Micro$oft, both of which I have held nearly a year.  Both have done very well for me and will continue to do well over the long term.

This isn't chasing a stock, this is a concerted effort to set it on fire.

Exactly.  This was extremely well calculated by finance/math gurus that are much smarter than any of us.

Also, jag has no proof that "VERY seldom is day trading successful".

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I said it [BLEEP] it last night made a Robinhood account and put $30 in Nok before they cut off trading and like $10 in some cryptocurrency called dogecoin. If it all tanks no loss but if it raises a little it’s like winning a scratch off lol.

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This isn't chasing a stock, this is a concerted effort to set it on fire.

Exactly.  This was extremely well calculated by finance/math gurus that are much smarter than any of us.

Also, jag has no proof that "VERY seldom is day trading successful".

Thats a proven fact.  I think the #s like 97% of day traders loose money.  I too share the long view on investing.  

That said, these large hedge funds etc. Play the same games on a much larger scale, they just rig the deck.  To me this is just a situation where the house starts loosing a couple hands of blackjack and now all of a sudden they shut down the table.

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