Stock market fuccery

[AdamLX]

I’m riding out GME since buying in heavy at $60. It’s been a wild one for sure.

[juiceweezl]

They shut down several stocks. The ride is over. Let's see how the Redditors handle this. I think it was Cuban that said good for the people doing this as it's exactly what happens in the back rooms of the uber rich hangouts.

[Craizie]

You borrow high, sell immediately, hope the stock tanks and buy it back for pennies on the dollar and return the borrowed stock. As long as it goes down you win, if the company fails your broker loses. Most people buy stocks and hold on to them until they grow to a certain value, short sellers manipulate the market to insure it goes down and cash in on the difference.

A company like Melvin Capital can destroy a business by shorting the stock and in fact they tried to kill Tesla a few years ago. Part of the reason Elon jumped all over this.

They aren't neccessairly trying to destroy a company. They are just trying to make money and that is the by product. Just because someone is out for themselves does not mean they are out to get you.

[slow99]

Just bought some April $250 puts on gamestop.

[BP]

Another one of those things of which I have absolutely zero understanding. I did some reading on it, and it just made my head full of fuck.

You borrow high, sell immediately, hope the stock tanks and buy it back for pennies on the dollar and return the borrowed stock. As long as it goes down you win, if the company fails your broker loses. Most people buy stocks and hold on to them until they grow to a certain value, short sellers manipulate the market to insure it goes down and cash in on the difference.

A company like Melvin Capital can destroy a business by shorting the stock and in fact they tried to kill Tesla a few years ago. Part of the reason Elon jumped all over this.

[Shorty]

I've been hanging out on wallstreetbets for a few years so I had seen them predicting the GME squeeze the last couple months. I was skeptical so I never bought shares but made a few hundred selling puts along the way. Nokia started getting pumped today for some fucking reason which I don't mind because I've had shares for a while. It's been entertaining just to watch. There's a guy that went from 53k last year to 47.9 million at close today on GME shares and options.

[slow99]

It’s been pretty crazy watching this unfold the last few days. I saw a couple things this morning that the Reddit guys were gonna target black berry so I bought shares this morning at $21 and sold early afternoon at $27. Not really sure how all this will ultimately unfold but it’s been wild and entertaining. Word has it one of my company’s stocks is on their radar.

[jluv]

Another one of those things of which I have absolutely zero understanding. I did some reading on it, and it just made my head full of fuck.

[jw33]

[juiceweezl]

damn, good haul! i made a couple hundred over night then got the fuck out lol

Thanks! I'll take it for sure. I've been picking up stuff under $4 the last few months and taking $500 here, $1K there, and such within a few days. This was the first time I've turned several thousand on something so quickly. I'm watching like a hawk trying to pick up on the next Gamestop or AMC. Could be Express.

[BP]

I don't need to be added to any more government watch lists so not playing. It's fun to watch though and to hell with Melvin Capital.

[lowthreeohz]

I bought 1K shares of AMC last week for $2.85 per. I sold this morning at $20.13 per. I saw Gamestop around $30 and didn't buy. Have been afraid to touch it sense.

damn, good haul! i made a couple hundred over night then got the fuck out lol

[juiceweezl]

I bought 1K shares of AMC last week for $2.85 per. I sold this morning at $20.13 per. I saw Gamestop around $30 and didn't buy. Have been afraid to touch it sense.

[IHaveAMustang]

My brother bought several shares of AMC back during the march lows. I messaged him last night telling him congrats and he responded - huh? I haven't even looked

lol, hopefully he sold before the halts today.

There was major collusion by brokers today or just really crappy infrastructure as almost all online brokers went down at the same time.

Something weird.

[lowthreeohz]

surprised to see no threads about all the mayhem with GME, AMC, etc. Any of ya'll making big money on the shorts?