Im not asking for expert/investment advice. in light of how much growth each of these stocks have risen mainly from Reddit users to "fight wallstreet", i am curious as to what everyone's opinion's are. Did you buy in before the massive rise in price? How long do you think this spiked price will last? Personally i have few shares of GME and plan on selling this upcoming week. it seems many wealthy people have approved of the price spike reddit has started however Wall Street doesnt seem to fond of it.
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$GME $AMC $BB $BBBY $NAKD Thoughts?
- Thread starter YellowScorpion
- Start date
Musical chairs...........when the music stops, people will find no place to put their asses, and fall down hard.
yep hot potato....but if you can lose your money and not be in peril then go for a quick trade....you have to catch the momentum just right now....the cat is out of the bag...The key in all of this is to try and find the next GME before reddit/robinhood...does...
Avg Joe is going to lose a bunch of money. Wall Street will still get paid.
It's the latest shiny thing on Wallstreet. Not for me and I've been doing this for 30 years. They stop trading on this name several times a day.
IMO Citadel (who owns Robinhood) is going to have a hard time explaining letting the hedge funds still trade while the retail investors were not.
Their trading platform should collapse.
Their trading platform should collapse.
my feeling is that this is a lot like the matrix.....the freewheeling power to the people new traders on their smart phones are made to believe they are "killing" it .....until they realize they are just sheeple being led to the fleece room.....of course many who have the smarts to buy low and sell higher will be ready to do it again....
I saw some kid on TV who is trading on the Robinhood/WallStreetBets/Discord platforms in his parents basement saying that he quit his job because his day trading is going so well. The market will disabuse him of that notion shortly but the whole thing kind of reminds me of 1929 when the elevator operator and taxi driver had the hot stock tip.
I'm doing it for almost 40 years now................I had a back-up sales assistant many years ago, that was not the sharpest tool in the shed. I'd go out to pick up lunch, and tell her to watch the ticker symbol "TIME", that I was sure it would go up. I'd go out for lunch at 1:00, hurry back to make it at 1:59 she was always so impressed at how I could predict the market. She never figured it out.................AMC, GME, etc, if you were able to make $ on it, be glad, and be gone. On stocks that are this short.....the little guy, will ultimately get hurt.
Was more than a little shocked at Robinhood's behavior and Melvin's naked short selling. I've read that Robinhood users profiting from GME were sold out of their positions, without consent, so that Robinhood could shore up its regulatory capital requirements. In addition, Robinhood gave order flow preference to hedge funds and sells user transaction data to those same hedge funds. The "free" trade doesn't seem free at all if the order execution is suboptimal and that order execution data is given to the highest bidder. And there seems to be a difference in "users" (regular investors) and "customers" (hedge funds). Citadel (one of Melvin's bailout providers) is Robinhood's biggest customer.
Yikes.
Yikes.
Great points from docjohn and Ponyboy. It is something to behold isn't it. Beginner traders Raging Against the Machine while Citadel, the high speed machine trader doing the actual trading while simultaneously propping up Melvin, reaps tremendous profit no matter which way it goes. Then, of course, there is iFINEX using Tether and Bitfinex to jack Bitcoin around. Meanwhile the SEC is just watching it happen. I am having trouble finding a way that this ends well.
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FWIW, the Treasury Secretary received over 800k from Citadel in the form of speaking fees over the last several years. Not saying she won't make a good decision in this situation but a conflict of interest is readily obvious and fertile conspiracy territory. IMHO, the SEC's focus should be on Robinhood's and hedge funds' behavior and their naked short selling (more than 100% of GME's available float was being shorted by the various hedge funds) and not on regular investors.
In a way it is like a lottery.....it is a crafty way to get more liquidity in the market...scale up small investments....taping into humans innate desire for a thrill of some kind esp in a pandemic...average joes are shrugging shoulders after losing a couple hundos...Vlad and citadel are more than happy to play a Blade type script...
when I listen to Vlad defend the action lately he kinda gives a Bill and Teds excellent adventure spin..
when I listen to Vlad defend the action lately he kinda gives a Bill and Teds excellent adventure spin..
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Ive been lurking some more on WallStreetBets reddit and it seems there has been a major split in what the focus is. Some are on the "meme" stocks which it seems this past week was anything weed related causing a spike in almost every cannabis stock on Robinhood. Others are still on the "fuck wallstreet" where they are willing to hold their shares till the stock reaches $0.00 while hoping for the next "Gamma squeeze". Im not sure if the cannabis stocks are a pump and dump similar to the Crypto Dogecoin. going from $0.002 to a peak of $0.08 earlier this month. Itd be nice for my GME position makes some money for more NSX parts.
i saw how high RKT has gone up, on Robinhood stock trading app im able to buy partial shares so i have only about $16 in RKT and the rest in AMC and GME due to reports of the hedgefunds not covering their options.
RH makes money on the bid/ask spread. It's really quite a terrible platform for so many reasons.
Funny you say this, ive always heard about how bad RH was when i first opened my account in mid 2019, however i havent seen a big migration away from RH until after the Jan 28th incident where RH limited the buying but not the selling of GME AMC NOK BB BBBY. Since then many retail investors i know have since moved to other brokers
The RH fiasco just gave more credence to how rigged the game is.
When GME went ballistic, it wasn't the SEC who stopped trading.
They are scared now that silver is in the crosshairs.
SLV rewrote the charter (!).
And now, they are going after REDDIT for manipulation!
https://www.zerohedge.com/news/2021...ion-orwellian-cftc-now-goes-after-reddit-apes
When GME went ballistic, it wasn't the SEC who stopped trading.
They are scared now that silver is in the crosshairs.
SLV rewrote the charter (!).
And now, they are going after REDDIT for manipulation!
https://www.zerohedge.com/news/2021...ion-orwellian-cftc-now-goes-after-reddit-apes
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While watching the first hearing it was pretty funny to watch Vlad from RH respond to almost every question with "I appreciate the question, it is a very good question" to take up more time.
Couldn't agree more. Robinhood's biggest customer is the high speed machine trader Citadel who buy their order flow and customer data. Citadel, in turn, makes the real money on the bid/ask spread and monetizing the data. All the zero commission trading platforms operate basically this way. RH is just another " free " app whose success depends on how successfully their algorithms stimulate addictive behavior by using techniques like the confetti drop. The Social Dilemma is a very interesting documentary about the Silicon Valley business model for Luddites like me who never paid much attention to social media.
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