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Stock Trading

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GreginPA said:
Fund managers speculated that the stock would go down so they shorted it (means they "borrowed" the stock from someone, sold it to someone else, and anticipated being able to buy it on the market for a cheaper price than they sold it for before they had to "return" it to the original owner even with a small commission to the owner)

Fund managers were shorting the stock so much there was not enough stock available in the market to purchase to cover their positions. Smart people on the internet figured this out before the calls were due and purchased/held the stock, which makes the price rise.

Fund managers had to purchase the stock at the inflated value to cover the shorted positions, costing them a crap ton of money and making a few internet people very rich.

If you are thinking about buying GameStop now, don't do it.
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No I had no intention, just didn't understand the big deal of it. Thanks
 
Also, it's a story of the commoner vs wallstreet. The theme is wallstreet is rigged for the pros to win and take the commoners money. The commoners teamed up against the hedge funds and cost them a lot of money. Then it made the news and more and more people started jumping in buying, which pushes the price higher. When the hedge funds have to cover their shorts, they are also essentially buying, also pushing the price up. Then Robinhood (the trading platform made up of the commoners) put a restriction on the stock, only allowing you to sell it, not buy it. That effectively removed a large portion of buyers from the equation, which helped the hedge funds by preventing people from buying the stock price higher. Robinhood claims that with the stock price so volatile, they didn't have the funding available to support the trades, which could be true. The commoners have filled an anti trust lawsuit against Robinhood. The other interesting point is robinhood makes a lot of money by selling the investing info on what their clients are buying/selling to the hedge funds. So in summary, it appears that the poor were using a program called robinhood to take from the rich and give back to the poor, and then Robinhood turned around and helped the rich by blocking the poor from continuing to buy to run the price up. No matter what, the people with large gains will eventually take their profits and the price will come down.

Sent from my SM-G930V using Tapatalk
 
I’ve been buying and selling a lot on my Webull account since my first post on this thread. If I had made my initial purchase back on my first post in here and did absolutely nothing else I’d be up $1,200 but that would have just been dumb luck and what’s the fun in that.
 
lungpuncher1 said:
I’m a buy and hold/ index fund lover. The day traders are up now but it won’t last. Once the market volatility settles down they won’t know how to carry on.

Day traders are screwed if they are depending on luck for their financial future.
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Yep, Vanguard US growth did 52% this last year. Have my teenage sons Roth IRA’s in that.
 
I put in an order a few days ago to buy 100 ROBO@68.50. It was just executed. It is a robotics and automation company fund.
Stop @65.50. Limit sell @100 for a long term hold.
 
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Appharvest has got my attention. Doing a lot of reading about it before I jump in.
 
I buy broad based index ETFs and mutual funds and buy each month and try to never sell. This thread gives me anxiety. ;)
 
dlist777 said:
I buy broad based index ETFs and mutual funds and buy each month and try to never sell. This thread gives me anxiety. ;)
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I just started buying individual stocks last March. Gains have been soooo good that I'm having trouble stopping....I did just buy some Fidelity Blue Chip ETF (nailed the low price of the day) and tried to buy the Schwab Large Cap ETF but missed with my attempt to get a best price of the day.
 
I'm just playing around with what was $1,000 I would have spent on something else. I've saved a significant portion of my income for the last 8 years and have maxed out my 403B at work for the past 6. I let the professionals do the real work.
 
My IRAs are safe plays, I am young and looking to grow it but I am not going to lose my butt if a bubble pops.

This stonks craze has been nuts though. I have another account that is just a couple years rewards from my CC and the first Trump check. Started playing with that in risky stocks to the tune of 2,025% cumulative gain most of that coming in the past 3 months. It's been life changing and I know I am fortunate but man I put a lot of work into researching opportunities. Pretty much just tried to get out in front of these buzzy retail/robinhood plays, ride the wave, and cash out when I started getting nervous. 10x'd NIO, SOLO, and 20x'd ABML. Proudly paper handed GME. 2 - 5x'd a bunch of other pennies and SPACs. Most of it today is cash on the sidelines I feel that whole scene is really overheated. Thinking about getting into options just not sure I have the time to manage much more.
 
elk yinzer said:
My IRAs are safe plays, I am young and looking to grow it but I am not going to lose my butt if a bubble pops.

This stonks craze has been nuts though. I have another account that is just a couple years rewards from my CC and the first Trump check. Started playing with that in risky stocks to the tune of 2,025% cumulative gain most of that coming in the past 3 months. It's been life changing and I know I am fortunate but man I put a lot of work into researching opportunities. Pretty much just tried to get out in front of these buzzy retail/robinhood plays, ride the wave, and cash out when I started getting nervous. 10x'd NIO, SOLO, and 20x'd ABML. Proudly paper handed GME. 2 - 5x'd a bunch of other pennies and SPACs. Most of it today is cash on the sidelines I feel that whole scene is really overheated. Thinking about getting into options just not sure I have the time to manage much more.
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That's wild man, congrats. I'm working my way slowly to 100% and trying to do the research along the way to continue to grow it exponentially.
 
I wish I had paid more attention when GME and all the others had been on the up swing. I tried to get into a few late and ride the wave but it backfired and I lost some dough. Still holding GME and AMC since there's no reason to sell at this point.
 
elk yinzer said:
My IRAs are safe plays, I am young and looking to grow it but I am not going to lose my butt if a bubble pops.

This stonks craze has been nuts though. I have another account that is just a couple years rewards from my CC and the first Trump check. Started playing with that in risky stocks to the tune of 2,025% cumulative gain most of that coming in the past 3 months. It's been life changing and I know I am fortunate but man I put a lot of work into researching opportunities. Pretty much just tried to get out in front of these buzzy retail/robinhood plays, ride the wave, and cash out when I started getting nervous. 10x'd NIO, SOLO, and 20x'd ABML. Proudly paper handed GME. 2 - 5x'd a bunch of other pennies and SPACs. Most of it today is cash on the sidelines I feel that whole scene is really overheated. Thinking about getting into options just not sure I have the time to manage much more.
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You've been holding out on us if you are up over 2000%!! :p
 
Gator said:
You've been holding out on us if you are up over 2000%!! :p
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I wasn't going to try the tethrd sticks but I think I may treat myself.

Yeah it's almost surreal. I think it was a once in a lifetime opportunity, found it on the way up, and have no delusions I can repeat it.
 
I'm at 13x original investment on MVIS as of today... was higher but it's taking a breather. I originally got 100 shares at 1.62, then 100 more at 1.84. Not a huge pile of money, but nice to see it turn into $4k.

I don't encourage anyone else to just buy in, but I do encourage others to look into the due diligence on it you can find on /r/MVIS (reddit) or youtube and decide if it'd be a good play for you.
 
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