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#6871 | |
Veteran
Join Date: Jan 2004
Location: Lawrence
Casino cash: $1701995
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Quote:
The fact is that this isn't the first stock that is over valued and a bunch of people just decided it should be worth that much. Tesla is up 600 bucks over what, six months? With no new products and they actually missed their most recent projections. Doesn't matter because of the people that just randomly decided it was cool to own tesla. FOMO and hype are the new get rich quick things in the market place, and gamestop won't be the last. |
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Posts: 1,052
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#6872 |
Tre Right, Three Jet Chip Wasp
Join Date: Apr 2012
Location: Land of the Tech Bro
Casino cash: $4612474
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This is the craziest shit Ive seen in my lifetime. Robinhood is likely ****ed.
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Posts: 3,750
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#6873 | |
Sexiest Athlete
Join Date: Apr 2001
Casino cash: $221925
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Quote:
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Posts: 12,663
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#6874 |
When pigs fly
Join Date: Nov 2010
Location: Kansas
Casino cash: $8924785
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GME just cratered
Currently, according to TDAmeritrade, Bid - 48.09 Buy - 2000 Price - 126.01 Its down $221 with a volume if 25m. Man I feel bad for anybody hold the bag on that shit. |
Posts: 3,326
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#6875 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $726899
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The irony is that there are probably hedge funds who shorted the shit out of it yesterday and are going to make a fortune on this.
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Posts: 52,212
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#6876 |
MVP
Join Date: Sep 2007
Casino cash: $7113463
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Of course it cratered. They restricted people from being able to buy.
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Posts: 15,636
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#6877 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $726899
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![]() Reddit crashes when you try to load WSB. I'm guessing people are freaking the **** out right now. The aftermath of this is going to be something to see. |
Posts: 52,212
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#6878 |
MVP
Join Date: Sep 2007
Casino cash: $7113463
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Gonna be a fun lawsuit to watch.
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Posts: 15,636
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#6879 | |
When pigs fly
Join Date: Nov 2010
Location: Kansas
Casino cash: $8924785
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Quote:
Somebody, somewhere just lost everything they ever had and planned to have though. Damn |
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Posts: 3,326
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#6880 |
MVP
Join Date: Sep 2007
Casino cash: $7113463
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This was always a gamble and anyone who put their life savings in is a dumb ass. Exposed how the system is rigged though.
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Posts: 15,636
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#6881 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $726899
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Quote:
If someone was already shorting the stock at $15 or whatever, they're still hurting right now (and probably will be for a while). But if someone got in at $400 yesterday, they're going to be rolling soon. |
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Posts: 52,212
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#6882 |
MVP
Join Date: Oct 2012
Location: Lenexa, KS
Casino cash: $1896717
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Robinhood is trash. Just use the TD AmeriTrade app.
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Posts: 14,404
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#6883 |
When pigs fly
Join Date: Nov 2010
Location: Kansas
Casino cash: $8924785
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You know someone did when they saw that stock flying up. Hell all of those #stonks seem to have cratered. BB, AMC, NOK...they are all way way down.
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Posts: 3,326
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#6884 |
Consuming CP souls
Join Date: Oct 2005
Location: U.S.A.
Casino cash: $2718880
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Crazy stuff
__________________
****Official TFWdemB Trivia Commisioner**** |
Posts: 70,195
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#6885 | |
MVP
Join Date: Sep 2003
Location: Back in K.C. baby!!!!
Casino cash: $5963433
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Quote:
In simplistic terms, say shares of xyz are going for $10 a share. You borrow 100 of them and sell them at $10 a share making $1,000. Then when the stock plummets to $1 a share you buy them back for $100 and return the shares to the original owner. You've netted $900. But what hedge funds are doing is on a much larger scale. The biggest issue is when these large hedge funds short stocks they sometimes try to purposely drive the stock prices down to reap the rewards. They go on CNBC and other business channels and talk shit about a stock to get people to drop it like a hot potato. It's slimey. |
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Posts: 7,019
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