I think there are a few prominent posters who are savvy, who know that losing is part of winning in the long term, big picture... so they post their "epic fails" for shits and giggles, but also have some long term wins. The true retards are the ones who come in, open up a Robin Hood account, then do stupid, uneducated shit and lose all their money, and never come back. For me, I just bought 100 GME for shits and giggles, and that's the first time I've actively participated in the WSB circle jerk.
That is a friend of mine. He's constantly buying and selling and thus, is way down in a year that you almost have to try and lose money.
I can't believe I got in for 100 at $36 for shits and giggles... will be cashing out now. "But it's going to the moon!" Don't care, this is enough for me... sell limit is $149. Have to think a ton of people set it sell off at $150 so there will be a hell of a dip... be sure to buy the dip!
Lots aren't. I can't say I've ever watched a stock go up and down so much in such a short period of time.
Yeah, no shit. If another boutique fund goes long on it like Burry’s did, it’s going to bump up again.
I guess we could move this conversation to the "investing" thread... but I find it hard to call this investing. What it IS, though, is an interesting view into the power of a large group of stupid people. The so-called "experts" threw bank at something they thought made sense on paper, then a bunch of morons came in and totally fucked it up. Then other morons came in and took advantage of what they knew the other morons would do. All without a single shred of investing common sense. It's like having a newb poker player sit down at a pro table... "why they hell would you do THAT?!?!?" "YOLO!"
Yeah, it's almost a proof of the infinite monkey theorem. It also shows that even with a ton of supporting evidence, the value of an asset still boils down to relativity (somewhat).
https://www.thestreet.com/jim-cramer/stock-market-advice-gme-tsla-aapl-kmb-mrna-jan-25 "This is one of the most amazing short squeezes...This is one of the wonders of the world," Cramer said when discussing GameStop. "If you’re short this stock, you have to ask, am I going to be in business," Cramer said.
Ironically, FuncoLand would probably do well these days. No one wanted a vintage video game store in the 90s when vintage was considered 5 years old.
After I made the joke I went and checked. FuncoLand is Gamestop now; they were acquired a few years back.
That's the whole concept. Buy and hold, and the shorts are screwed and will have to pay inflated, totally unrealistic prices.
I got six shares of BB at $12, because I wanted to see what the meme would do. But now I'm thinking it might be a good long term hold Especially for so relatively little in it. Other two stocks I have are in cannabis infusion technology and in a non-alcoholic beverage company. I think I put $250 in total so this is just for entertainment purposes. No risk since I consider it gone anyway, just wanna see what happens. Reward is I get lulz.
Most of what you're seeing in the past two days are short positions getting blown out. Risk departments are buying regardless of price to square the positions. There is a good chance you've seen the top.
But now you're going to see all the "hey, I read it in the news and want in!" crowd coming in. You see the same thing with cryptocurrencies... there are the pros that have lots of knowledge and invest based on the info/details, then you see the RobinHood crowd that read it in the newspaper and are coming late. I bet we'll see another few cycles a the latecomers come in and buy, and lose.
yeah I just put in a limit sell at $20 for my 6 shares of BB. This ride was a lot more fun when I was just watching it. also, they are now literally sending GME to the moon