They’re hoping it’s currently the left box.Yeah completely understandable to treat it as a bit of fun with money you could absolutely afford to lose.
But damn, seeing people buying hundreds of shares at over $300 and still not selling is really concerning to me, at what point do you cut your losses? $60 a share? $30?
This story should be a case study in the future over the sunk cost fallacy
To be fair it's not been that much fun. I bought a small number at $225 on Monday, watched it shoot up to $275 and then it's been like a slow motion car crash since then. Could have been a whole lot worse if I'd believed the hype and gone in big.
Unless people are happy to pay an inflated price and hold onto the stock as a form of activism? The longer people hold the stock regardless of the price then the short sellers lose don't they? The problem is of course not everyone will hold their stock.
I can't see it as all. Especially as we've both noted with the brokers not allowing people to buy, the amount of shares being traded over the last couple of days in comparison to the peak has been very low, I think the hype has died and I really don't see this spiking meaningfully againThey’re hoping it’s currently the left box.
I hope it does go back to 300 levels for your sake.The way i see it is this ...
The reddit forum where this all started is called 'WallstreetBETS". The "BETS" bit tells you that this was never a 'safe' investment but a 'BET' that the HF's would have to buy back the stock at a huge price causing a 'short squeeze' on the basis retail traders could buy the stock in large volumes freely.
I can afford to risk 15 k, so i bought up 15 k of GME stock at 200 dollars per share on the basis that i knew it was a "BET" and if i lost it wouldn't affect me in any meaningful way. If i win, happy fucking days. I am at the point where I will either hold this stock until it hits $500 or it hits $0.
If i knew what i know now about the fact the trading apps could collude with the HF's so openly and commit market manipulation for everyone to see would i have touched GME ? Fuck no.
It's going to be interesting to see what happens. If enough people 'hold' and platforms allow people to buy freely again, this stock will be back in the $300-400 range again.
I imagine it stings yeah, but as you note you've not been overly punished. It's a good lesson for next time to not get too crazy about the hype for the next big trade
What's the activism though? People bought this stock to make money, plain and simple; especially those who invested thousands.
There's really no way of knowing if the short sellers have actually got out and covered themselves already. Yes they got greedy but these billionaire hedge funds didn't get to where they were by accident, they are experts and there's been an incredible amount of volatility in the market.
They might been able to utilize this volatility through calls or buying stock themselves and then manipulating the price downwards to cover themselves, we simply don't know
Not everyone bought the stock to make money. Certainly not the movement at the beginning. The Reddit users wanted to attack certain Hedge Funds who had aggressively shorted a number of companies, GameStop being just one of them. That's how the movement started. Of course lots of people will then have jumped on bandwagon to make money off the back of it.
Fuck it. It is what it is.Like I say, if you bought one or two shares that you wouldn't really notice losing that's fair, but people are throwing away thousands of pounds/dollars now.
There's nothing noble about that and it also discounts that other hedge funds have since got in on the action and are probably profiting from people's losses now
Like I say, if you bought one or two shares that you wouldn't really notice losing that's fair, but people are throwing away thousands of pounds/dollars now.
There's nothing noble about that and it also discounts that other hedge funds have since got in on the action and are probably profiting from people's losses now