(01-27-2021, 08:42 PM)KingIngram052787 Wrote:

(01-27-2021, 08:01 PM)mal234 Wrote: I wonder if this will cause there to be more regulation regarding trading stocks. I hope not too much more. One of the things I like about Robinhood is that it allows a lot more people including working/middle class people the opportunity to invest.  I do believe that people especially working people should have the opportunity to invest regardless of what their income is. It shouldn't just be for the rich and wealthy.  People can really make money in the stock market, especially if they invest responsibly. I am concerned this articial driving up of prices will cause there to be more regulation and it will backfire and hurt a lot of us "little" investors. Some of us invest honestly/responsibly and do things like research and actually buy and hold a lot of our stocks and let them grow for a bit before we sell them. I don't blame people for selling quickly to get big gains (and I would do it in the right situations), but I think in the long run what is happening now with stocks like Gamestop may not pan out and could hurt some people besides the hedge funds guys.



This is something. I have seen people on another site I visit sometimes saying they are going to go and buy some more Gamestop shares. That stock is now over $300. Unless many of these people have large amounts of disposable income/savings lying around, they don't have the funds to buy a bunch of this stock. And I think it's a mistake to buy/try and buy a bunch of it up.

I actually bought some shares of a penny stock from a company called Genius Brand last year, where people drove the price up and then it ended up falling a bit, losing people money. Including me. Some people were predicting it was going to be the next Netflix but for children. They have a cartoon channel which has several children's programs. Well, people were buying up this stock because they thought it was going to do well and it drove the price up. I bought some more shares as the price was going up. At first some people made some money and I made a little bit, but it wasn't sustainable and the price of the stock fell very quickly. (I want to say within a few days). 

And it's been a very low price ever since. I lost some money on that, thankfully nothing astronomical. Maybe a couple of hundred dollars at the most, it wasn't too much, thank goodness. But that was a stock that ended up falling significantly and people were investing in that stock with good intentions. If that could happen there, I do think some of these other stocks that people are driving the price up now (and still buying into) could have bigger crashes.

At the end of the day, if you're going to play this gambling game, and it is gambling, just don't risk what you're not comfortable losing.  If i'm taking a risk on an investment, i.e. a gamble, I just assume I'm not getting that money back and that's the amount I'm comfortable using.

I don't do that often, most of the time I am buying what I believe are long term investments, so I'm typically spending money that I don't believe I will need for a long time, but eventually expect to get back.  That's also not always guaranteed, but over time, there are strategies that tend to work and make you solid/moderate returns as you let them sit for 10-20 years.

Oh yeah, I definitely not try to invest more in a stock than I can afford. I have said "too rich for my blood" several times when it comes to investing in various stocks. I look up what the upsides, projections for them are for a certain amount of time (like over the course of a year) And at some point if I think it's better off to try buying/loading up on that stock, I definitely stop. I usually invest in a lot of penny/cheaper stocks, but I am going to start investing in more longer term options as well.

(01-27-2021, 09:40 PM)StroudCrowd1 Wrote: Suits trying to shut down WSB. Poop about to hit the fan. AMC and NOK are going to absolutely explode tomorrow. Censorship has awaken the Kracken.

NOK and AMC were two stocks that I have seen multiple sights suggest investing in. I haven't invested in either one of them either, because I was a bit skeptical about how well they would do. But maybe they will have big days tomorrow if people keep driving/drive up their price.

I actually saw someone someone post a post, that looked like it was from wallstreetbets. (Though, it looks like they may have been banned from reddit). The post mentioned Genius is next. I sold most of my Genius stock once the price fell down quite a bit last year. But I have a very small amount of shares left. If they really do drive the price of Genius up, maybe they will make it rain with the 8 shares I have left lol.   I decided to keep a very small amount of shares in case the stock ever rebounded. My average cost of shares is like $3.88. I did just see it went up like a dollar today. If they do try and drive it up, I wonder how far they will drive it up. I also saw people post what looked like quotes from Nasdaq CEO, that they will possibly halt trading if a stock looks like it's being driven up artificially. And that they will possibly monitoring social media chatter to do that. 

So maybe that will halt what people may try and do with stocks like Nokia and Genius tomorrow. I am interested in seeing what happens. I am scheduled to work a little later tomorrow, so I will be checking to see what possibly happens with Genius tomorrow. I'm not saying I will help people run it up, but if they run it up, I will cash out the few shares I have if there is a big profit to be made lol.

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