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Post by Tenshigure on Jan 27, 2021 12:06:44 GMT -5
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Gus Richlen Was Wrong
Patti Mayonnaise
Metal Maestro: Co-winner of the FAN Idol Throwdown!
Fun while it lasted
Posts: 38,621
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Post by Gus Richlen Was Wrong on Jan 27, 2021 12:08:06 GMT -5
I thought something smelled rotten in Denmark. And GameStop isn't the only one going haywire to the point where TD Ameritrade is putting trade restrictions in place.
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Post by The Summer of Muskrat XVII on Jan 27, 2021 12:12:51 GMT -5
I thought something smelled rotten in Denmark. And GameStop isn't the only one going haywire to the point where TD Ameritrade is putting trade restrictions in place. Yeah, I believe BlackBerry is completely off the rails right now too. My buddy and I have been following this GME one quite closely, it’s absolutely insane. Pure market manipulation in my opinion, anyone with half a brain knows GameStop is on its last legs and doesn’t seriously believe this is a sound or safe investment
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Spider2024
Patti Mayonnaise
Dedicated 6,666th post to Irontyger
I believe in Joe Hendry.
Posts: 39,369
Member is Online
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Post by Spider2024 on Jan 27, 2021 12:15:13 GMT -5
So is this what those people who used to be on VoteForTheWorst.com doing nowadays?
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Post by The Legend of Groose on Jan 27, 2021 12:47:13 GMT -5
The only time a GameStop trade is worth more than $2.49.
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BorneAgain
Fry's dog Seymour
Posts: 20,329
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Post by BorneAgain on Jan 27, 2021 12:55:33 GMT -5
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Post by eJm on Jan 27, 2021 13:42:29 GMT -5
You know how sometimes I say I find it hard to take the stock market as an indicator for how well a business is doing seriously because of the kind of people who use it?
Yeah, this is a reason. If it can be manipulated this easily by Reddit users...yeah...
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Jan 27, 2021 13:47:01 GMT -5
Bought a share; even if I'm out $330 and change I'll at least have been part of history.
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chazraps
Wade Wilson
Better have my money when I come-a collect!
Posts: 28,029
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Post by chazraps on Jan 27, 2021 13:49:09 GMT -5
A buddy of mine purchased a bunch of AMC stock after a great experience when they announced the theater rentals last October. Love that his act of genuine passion for having a good time at the movies may pay for his kids' college in a week.
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Post by Feyrhausen on Jan 27, 2021 13:52:48 GMT -5
So anyone who actually knows about stocks and the like. The way they are doing thist is it actually possible to make some money? Obviously not now that it is sky high but if you had gotten in early could you have bought a bunch and dumped it once it was high enough? Or is this some voodoo options BS that would not pay off in any way for normal people?
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Rican
Bill S. Preston, Esq.
July 17, 2011 - HHHe called it
Posts: 16,508
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Post by Rican on Jan 27, 2021 13:56:33 GMT -5
A buddy of mine purchased a bunch of AMC stock after a great experience when they announced the theater rentals last October. Love that his act of genuine passion for having a good time at the movies may pay for his kids' college in a week. I was legit considering buying some like two weeks ago since it was so cheap and am kicking myself for it now lol
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Bam Neeley
Dennis Stamp
Foxy Stoat Seeks Pig!
Posts: 4,047
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Post by Bam Neeley on Jan 27, 2021 15:26:25 GMT -5
So anyone who actually knows about stocks and the like. The way they are doing thist is it actually possible to make some money? Obviously not now that it is sky high but if you had gotten in early could you have bought a bunch and dumped it once it was high enough? Or is this some voodoo options BS that would not pay off in any way for normal people? Yes. If you had bought shares for cheap couple of weeks ago you could sell them for the price they are asking. Essentially short sellers(people who have bet that share prices are going down) need to buy shares to prevent them from losing even more money so there is a ton of demand. This video hopefully explains short selling and what's happening to them:
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Post by MrElijah on Jan 27, 2021 15:47:38 GMT -5
You know how sometimes I say I find it hard to take the stock market as an indicator for how well a business is doing seriously because of the kind of people who use it? Yeah, this is a reason. If it can be manipulated this easily by Reddit users...yeah... This seems like a goddamn ponzi scheme.
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Post by Cyno on Jan 27, 2021 16:06:54 GMT -5
This is the sort of thing that's led to stock market crashes in the past. TBH I'm surprised it's even legal still knowing that.
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Post by Feyrhausen on Jan 27, 2021 16:21:44 GMT -5
So anyone who actually knows about stocks and the like. The way they are doing thist is it actually possible to make some money? Obviously not now that it is sky high but if you had gotten in early could you have bought a bunch and dumped it once it was high enough? Or is this some voodoo options BS that would not pay off in any way for normal people? Yes. If you had bought shares for cheap couple of weeks ago you could sell them for the price they are asking. Essentially short sellers(people who have bet that share prices are going down) need to buy shares to prevent them from losing even more money so there is a ton of demand. This video hopefully explains short selling and what's happening to them: Well good for them. Makes me wish I didn't avoid reddit so much. I might have to try keeping an eye out for next time. But I doubt this kind of lightning will strike twice.
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Post by zrowsdower on Jan 27, 2021 16:26:07 GMT -5
I have had an interest in getting into the stock market for some time now. But stuff like this scares me from really doing so.
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Post by Natural Born Farmer on Jan 27, 2021 16:27:38 GMT -5
You know how sometimes I say I find it hard to take the stock market as an indicator for how well a business is doing seriously because of the kind of people who use it? Yeah, this is a reason. If it can be manipulated this easily by Reddit users...yeah... This seems like a goddamn ponzi scheme. The spirit is similar, but for something to get listed on the NASDAQ or Dow Jones the company does need to actually have some sort of assets and presumably a product they sell, even if no one wants to buy it. But then there's Enron.
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Post by MrElijah on Jan 27, 2021 16:31:56 GMT -5
This seems like a goddamn ponzi scheme. The spirit is similar, but for something to get listed on the NASDAQ or Dow Jones the company does need to actually have some sort of assets and presumably a product they sell, even if no one wants to buy it. But then there's Enron. I get it but it seems like the other shoe is going to drop and somebody's ass is going to jail.
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Post by eJm on Jan 27, 2021 16:40:57 GMT -5
The spirit is similar, but for something to get listed on the NASDAQ or Dow Jones the company does need to actually have some sort of assets and presumably a product they sell, even if no one wants to buy it. But then there's Enron. I get it but it seems like the other shoe is going to drop and somebody's ass is going to jail. I mean, to be blunt, the reason that'd suddenly be the case is people who don't usually use the stock market are doing the same things as the people who usually do. So if there's suddenly something to be done about it...it's not because it's a new thing.
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Post by Ishmeal Loves Kaseyhausen on Jan 27, 2021 16:46:40 GMT -5
There's been rumblings of the brokers wanting to get the SEC involved and investigating in this whole thing. Which is kinda f***ed, because the Reddit users didn't do anything illegal, or all that different from what the brokers themselves do.
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