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Into_the_tunnel
VIP Member
Totally here for the short selling craic.
I am rubbish at explaining this sort of thing, but if you are on Instagram, there is a page called shityoushouldcareabout. They have a story and a post all about it.
Have you seen The Big Short? All about the crash in 2008- it is brilliant.
I am rubbish at explaining this sort of thing, but if you are on Instagram, there is a page called shityoushouldcareabout. They have a story and a post all about it.
Have you seen The Big Short? All about the crash in 2008- it is brilliant.
Pretty much the summary of it, yep.
We are hearing how these hedge fund traders are “professionals” and how the “vulnerable amateurs” need to be protected. Basically, in my view, it’s a case that the wrong people manipulated the stock market. In exactly the same ways these traders do. Every. Single. Day.
Wall Street support a free, open market. Until it’s not benefiting them. These people did nothing illegal. They bought stock. That’s all.
Does anyone know how much the 2 main hedge funds lost? Hearing different reports but $5bn and $70bn. Would be interesting to know!
Lots of big funds gambled that it would lose value.
So people (and probably big investors) pumped the price up so they lost their bets.
That's about as simple as I can put it
This kind of thing was always going to happen as with places like Hertz and people with their robin hood investing accounts pumped that stock.
So people (and probably big investors) pumped the price up so they lost their bets.
That's about as simple as I can put it
This kind of thing was always going to happen as with places like Hertz and people with their robin hood investing accounts pumped that stock.
AllSeeingEye123
VIP Member
I am a novice myself mate
I downloaded the Trading 212 app and bought a share on there. From my hours reading the wallstreetbets sub forum on Reddit you buy what you can afford and if the price drops don't worry yourself in to panic selling just buy some more at the bargain price if you can afford. Stock apps like RobinHood are looking out for the billionaires by limiting how many shares you can buy in GME (GameStop) and if you read the media it's putting WSB (wallstreetbets) name to the price of silver rising. Do not buy silver the price rise is probably the billionaires trying to take people off the scent. GME stock is expected to rise a lot more......Why GameStop's stock could rise much, much higher
The meteoric rise in GameStop's stock price is being called a short squeeze by most. But that's not what's happening, says one expert, and that could mean that if and when the short squeeze does come GameStop's price could soar significantly higher than current levels.What's happening: Short...
Google 'gme stock' and it's already risen in value in the pre market before it opens up at half past two this afternoon UK time. The short of it all is.....
1) Buy a share in Gamestop.
2) Do not sell under any circumstances. If the price drops don't panic sell. If it rises loads don't sell thinking you've made a good profit. The hedge fund guys need our shares to pay back what they owe so if we don't sell our shares we have all the power to how much they have to pay to get it back off us.
3) Don't fall in to media traps that WSB and Reddit posters are behind buying silver or Blackberry or Nokia or AMC.
4) It's all about GME nothing else matters.
Bitofthebubbly
VIP Member
I’ve not bought into this, if it was a few weeks ago I might have. It’s very interesting to watch though, wallstreetbets on Reddit is a bit of a scary place to be, it’s a bit like a cult over there it’s very strange. They’re egging each other on and not being rational at all, some people are claiming to have put their entire life savings into it, it’s crazy and not a good place to find balanced info. They will just tell you what you want to hear and shout “DIAMOND HANDS” at you. I am not convinced the price will reach $400 again but time will tell.
This fiasco has however got me looking into legit investing for longer term gains. So there’s that.
This fiasco has however got me looking into legit investing for longer term gains. So there’s that.
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StephenTJackson
VIP Member
All the movement did was artificially inflate the value of a declining, loss making business. Long term the share price is only going to go down as the business continues to decline.
Some people who bought shares at <$20 and sold at >$350 will have made a fortune and good for them. People who got in at >$300 and didn't sell before the US regulators intervened will probably have lost money.
But that's investing, you win some, you lose some. I'd had an investment that was up £1000, I risked holding it, the share price dropped in my absence, I "only" made £500 profit when I sold. But that's investing, it's all a gamble. And it's always better to make something than nothing.
StephenTJackson
VIP Member
I see the share price has fallen off a bit of a cliff. Down at about $90 as I post.
StephenTJackson
VIP Member
I've been investing for a while for the long term. I admit I bought a few shares just before it all started going south, watched the price go up, then sold quite quickly. I made a couple of hundred quid, so it was better than nothing. But I don't see it going back up much now, the US authorities have stamped it out with new requirements.
Former_Antelopee
VIP Member
Bringing this back as I just got a memory of the money I made from GameStop. Haven’t really invested in anything since, apart from making a bit on AMC. I think I got lucky with GME so haven’t risked. I made 5k on GME and 1.6k on AMC
AllSeeingEye123
VIP Member
I bought a share in them the other day. If it becomes worthless I don't care and neither do the others on the Reddit forum. Hedge fund billionaires cannot force us to sell so will either have to buy from somewhere thus the price rises or they pay huge interest from not being not being able to give back the shares they borrowed.
Friday the price stayed similar for hours to try and bore people in to selling. Then the stock price dropped a lot but nobody will panic sell they just bought more stock at a bargain price so it went back up to where it started.
It's around 230 quid a share atm but should reach four figures very soon.
Friday the price stayed similar for hours to try and bore people in to selling. Then the stock price dropped a lot but nobody will panic sell they just bought more stock at a bargain price so it went back up to where it started.
It's around 230 quid a share atm but should reach four figures very soon.
AllSeeingEye123
VIP Member
It's 4% down on the pre market so you'd be buying a bargain IMO. Don't sell the share under any circumstances, don't be tricked in to buying in to anything else like silver and just sit back and enjoy.I actually have a trading 212 account from when I did an offer a few months back to get some extra cash
So I could go on there and buy a gme stock for $328/£239 and I’d have a decent chance of making a bit of cash?
Wishiwasaninfluencer
Active member
This is the most helpful explanation I’ve seen on it. I have a Hargreaves Lansdown share account and been watching the price wondering if I should buy or not.. currently at £328 according to my app, when I first looked last week it was about £220. I might just f it and do it today!
Bitofthebubbly
VIP Member
I’m still getting my head round it all to be honest but the price seems to be dropping slightly according to trading 212. I’m still unsure but watching with interest.
rainbowlemon
VIP Member
Netflix did a good documentary about this called Eat the rich.
Well annoyed by this as I got an aff link for it from a friend literally right before this all went down and now I can't sign up. Fuminggggg.Con act. All the share apps are in it together with the big boys. I read what they have put. They should allow people to sign up and add themselves to the queue instead of banning people joining until they get through the exisiting queue they have.
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