SWP's back
Well-Known Member
- Joined
- 29 Jun 2009
- Messages
- 88,250
He’s currently worth over $38m from his initial $50k. Fuck knows how and why he’s still holding. Balls of steel and much higher stress threshold than me.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
What I don't understand is how Melvin and Citron were able to short sell ~140% of outstanding GME shares. That seems to be the crux of the problem here and what actually needs fixing. They overextended themselves far more than they should have been able to.
I genuinely don't get how that's possible or even legal?
Debating getting in on the AMC train. Anyone else buy in?
I genuinely don't get how that's possible or even legal?
Debating getting in on the AMC train. Anyone else buy in?
MillsyTheMosher
Well-Known Member
- Joined
- 23 Jan 2018
- Messages
- 1,321
NOK/AMC are the ones !What I don't understand is how Melvin and Citron were able to short sell ~140% of outstanding GME shares. That seems to be the crux of the problem here and what actually needs fixing. They overextended themselves far more than they should have been able to.
I genuinely don't get how that's possible or even legal?
Debating getting in on the AMC train. Anyone else buy in?
SWP's back
Well-Known Member
- Joined
- 29 Jun 2009
- Messages
- 88,250
It’s legal but after the last two weeks, I don’t think anyone will be trying it again as r/WSB will now have 2.5m neck beards trying to be the next u/DeepFuckingValue (the guy that’s made $40m) whilst looking for the next over shorted large cap.What I don't understand is how Melvin and Citron were able to short sell ~140% of outstanding GME shares. That seems to be the crux of the problem here and what actually needs fixing. They overextended themselves far more than they should have been able to.
I genuinely don't get how that's possible or even legal?
It was pure greed on their part as they’d been making 20% a year from shorting the stock and talking it down to anyone that would listen in the industry.
M18CTID
Well-Known Member
They’re doing the same with Blackberry and Nokia. I know Skip said BB was a good investment a few weeks back but guessing might be best to wait until this all dies down before dipping in?
MillsyTheMosher
Well-Known Member
- Joined
- 23 Jan 2018
- Messages
- 1,321
Nokia will be worth double by COP tomorrow IMOThey’re doing the same with Blackberry and Nokia. I know Skip said BB was a good investment a few weeks back but guessing might be best to wait until this all dies down before dipping in?
DenisLawBackHeel74
Well-Known Member
- Joined
- 20 Feb 2010
- Messages
- 10,876
Sold Blackberry because of this today at the peak. Difficult to know what’s going on but don’t plan on getting burnt.They’re doing the same with Blackberry and Nokia. I know Skip said BB was a good investment a few weeks back but guessing might be best to wait until this all dies down before dipping in?
Jordie
Well-Known Member
Up 32% today, 226% since beginning of December. I haven't checked has it been higher that that today?Sold Blackberry because of this today at the peak. Difficult to know what’s going on but don’t plan on getting burnt.
Makes sense I sold my bitcoin tracker earlier this week and tempted to sell PLUG and CBDX. Feeling like 1999 in some of these hot stocks so taking some off the table.Sold Blackberry because of this today at the peak. Difficult to know what’s going on but don’t plan on getting burnt.
DenisLawBackHeel74
Well-Known Member
- Joined
- 20 Feb 2010
- Messages
- 10,876
I’d be happy to reinvest once it settles down.Makes sense I sold my bitcoin tracker earlier this week and tempted to sell PLUG and CBDX. Feeling like 1999 in some of these hot stocks so taking some off the table.