Stock Market: The Thread

[St1ck]

Just now, Jay said:

Does it matter?

It does to me Jay. It does to me. 

[Tank]

4 minutes ago, st1ckboy said:

You going to start the fantasy golf league again?

already playing.

i'm winning again.

[St1ck]

2 minutes ago, Tank said:

already playing.

i'm winning again.

Proud of you buddy.

[Slegnaac]

1 minute ago, Tank said:

already playing.

i'm winning again.

Is the prize money in crypto currency?

Asking for a Friend.

[Jay]

I'm not smart enough to predict exactly what will happen on GameStop.

But I will speculate that the stock returns to its $20 level (if not lower).

The big funds will make some of their money back.

And the retail investors will be hosed.

 

[Tank]

23 minutes ago, Slegnaac said:

Is the prize money in crypto currency?

Asking for a Friend.

we get paid with unicorn glitter.

[RallyMo]

They're probably already casting the movie or series on this one.

[Angelsjunky]

Robin Hood stops trading on these stocks. So much for the "free market."

[Catwhoshatinthehat]

30 minutes ago, Jay said:

I'm not smart enough to predict exactly what will happen on GameStop.

But I will speculate that the stock returns to its $20 level (if not lower).

The big funds will make some of their money back.

And the retail investors will be hosed.

There's no fundamentals to support the price the stock got to or even a fraction of it.  They tried doing the same thing with AMC which is currently down 50% but who knows where it will end up by the end of the day.  Gamestop was a way to make money and get back at short sellers like Citron who along with Melvin Capital lost a lot of money but could recoup some of it if they have the capital and stomach for it.  The issue with things like this are the investors who got in late who are going to lose money and there will be a lot of them.  We'll hear less about them and more about the small fraction who made a lot and the funds that lost a lot.    

[gotbeer]

1 hour ago, Angelsjunky said:

Robin Hood stops trading on these stocks. So much for the "free market."

Yeah, I have an issue when brokerages stop trading.  Shouldn't it be up to the stock market themselves and government regulators to determine when a stock should stop trading?  

This just feels like the brokerages are sticking up for their big client hedge funds.

[Tank]

blue horseshoe loves anacott steal.

[T.G.]

2 hours ago, Tank said:

blue horseshoe loves anacott steal.

I was just about to post that same thing!

[Taylor]

 

[Taylor]

An Asian guy said it, so it must be true.

[Jay]

3 minutes ago, Taylor said:

An Asian guy said it, so it must be true.

Yeah and he has a blue check-mark so...

[AngelsLakersFan]

3 hours ago, gotbeer said:

Yeah, I have an issue when brokerages stop trading.  Shouldn't it be up to the stock market themselves and government regulators to determine when a stock should stop trading?  

This just feels like the brokerages are sticking up for their big client hedge funds.

That's exactly what's happening. The billionaires made some phone calls.

When everyone is buying up these stocks through Robinhood and Robinhood then only makes it possible to sell, there is only one direction for the stock to go. 

What was a story about some small time investors collectively bullying some over leveraged hedge funds is now something much bigger.

[Taylor]

Ted Cruz and AOC have both slammed Robinhood for stopping trading on GME.

[Catwhoshatinthehat]

Sounds like Robin Hood should change it's name to The Sheriff of Nottingham...

[Lhalo]

Dave Portnoy didn't pull any punches today.

 

[Slegnaac]

Winners don't want to be losers, what a surprise.

[AngelsLakersFan]

Found this to be a good explanation for today's events. Not mentioned was that Robinhood stopped sales on all the stocks being aggressively shorted.

 

[Catwhoshatinthehat]

If that’s true the short sellers and brokerage firms should be taking their lumps and also getting fined. Instead they’re getting bailed out. 

[gotbeer]

Exactly.  Sounds like they got caught with their hands in the cookie jar, still got the cookie, and got to take the entire jar home.  Meanwhile blaming the cat.

[Lhalo]

I think there is a mass exodus out of Robinhood right now.

[AngelsLakersFan]

Just now, Lhalo said:

I think there is a mass exodus out of Robinhood right now.

Yeah, I'm a little concerned... I don't have much money in Robinhood but I'm not entirely sure what I should do with it. Given the news about its credit crunch in addition to all this, I'm not sure how safe it is in there.