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Redditors gave Wall Street traders an absolute pasting
- Thread starter The Albanian
- Start date
Steak Pie
Striker
It's a fantastic story, but I can see a lot of the Redditors who have come along for the ride getting their fingers burnt. Short selling is one of the most ridiculous concepts in finance and should be outlawed.
Fun fact, my undergrad dissertation (in 1995) came to this this very conclusion.
Fun fact, my undergrad dissertation (in 1995) came to this this very conclusion.
KSAFC
Winger
All a massive gamble now. I tend to look for undervalued stocks based on less technical factors than short squeeze potential.
Basic human nature tells us all good things come to an end, especially when everyone gets involved.
Tadger
Striker
Having sobered up and actually read what’s happened, good on Reddit.
I thought it was just some online version of Occupy.
ajthemackem
Striker
I was thinking like.Having sobered up and actually read what’s happened, good on Reddit.
I thought it was just some online version of Occupy.
D
Deleted member 22162
Guest
All short positions passing the 0.5% threshold are freely available here:
Again - happy to be corrected - what's the difference, legally not ethically, if 2 million PIs get stuck in collectively and buy 5 shares each, or one or two big institutional investors buys 10 million themselves in a series of Buys. It'd still in effect cause a short squeeze with the shorters scrambling to cover their positions, no?
Securities are being (just about) legally pumped on forums (not just Reddit) and social media every single day, it's just this time enough collective action has been taken to cause some heavy losses to those who seemingly hate to be played at their own game.
All that said - those still buying into Gamestop especially right now while it's at the top are in for a very rude awakening and likely very heavy paper losses. Not good.
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Again - happy to be corrected - what's the difference, legally not ethically, if 2 million PIs get stuck in collectively and buy 5 shares each, or one or two big institutional investors buys 10 million themselves in a series of Buys. It'd still in effect cause a short squeeze with the shorters scrambling to cover their positions, no?
Securities are being (just about) legally pumped on forums (not just Reddit) and social media every single day, it's just this time enough collective action has been taken to cause some heavy losses to those who seemingly hate to be played at their own game.
All that said - those still buying into Gamestop especially right now while it's at the top are in for a very rude awakening and likely very heavy paper losses. Not good.
D
Deleted member 26533
Guest
Will be scenes when people are trying to sell and can't access or execute anything on these free app platforms
Server errors and tears all over the place
MonkeyLove
Striker
Evidently but they are a bit out scaled here
Its not. According to most experts
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CatRyan
Striker
I have three letters T w and a but you need to reuse the first
how is this different to the market manipulation of the hedge funders, bragging about shorting a stock that was undervalued already?
monkeytassle
Striker
May I read that?
Jack Torrance
Striker
Is it worth investing anything on this now
Steak Pie
Striker
If I ever get back to the Mam's house, I'll dig it out.
CatRyan
Striker
this was not a scheme to manipulate stocks to make money, it was a community effort to put in money they are happy to not make a profit on to give the hedgefunds a painful smack on the wrist
MonkeyLove
Striker
No it’s not
look out piano
Striker
I'd wager no, you'd have have to jump on something quick from the off with everyone else I'd guess - it's probably too late for Gamestop as the cat is well and truly out of the bag.
monkyArms
Goalkeeper
maybe so now, but if you got in yesterday and the stock rises to $1000 you could be quids in
Market Where?
Striker
Sainsbury is interesting
CatRyan
Striker
on paper, yes of course, but I think the point of this was for many people to put in money they could afford to lose to do something powerful, not to make money
MonkeyLove
Striker
You seem to be in the minority of experts who think this is illegal. Bloomberg, Reuters etc... are saying at most it’s ambiguous but agree any attempted action by the SEC would far exceed anything they had done before.
