Sometimes the graphic view tells the story. Wish I had played for a couple of days just for the fun of it.
Good, they needed to lose, and lose big, as they were all in for Biden. Teach them a great lesson.
Big money moves stocks not small money. This is a billionaires dance. Don’t get sucked into the idea that little guys are doing this.
Here’s a good quote:
“Barron’s reported late on Tuesday that the top securities regulator in Massachusetts believes trading in GameStop stock suggests there is something “systemically wrong” with the options trading around the stock.”
In other words: the people (Hedge Funds, professional traders) that were supposed to make money got their rear ends handed to them and That’s Not The Way Things Ought To Be. The little guys aren’t supposed to be doing this.
Sounds like the Wall Street equivalent of the Deep State talking.
What happens to all the gamer neckbeards who bid the stock up when it crashes back to $20? Oh, wait... I think I know.
This is interesting to watch but eventually, wall street with deep pockets will win as those holding the shares will start to sell.
Anyone else here remember what happened when the Hunt brothers tried (totally legally) to corner the silver market in 79?. Why, the margin rules got changed! The markets hate interlopers and the rules get might flexible when the establishment has its $$$ at risk.
They are targeting Silver next.
Here is a link to a tweet postulating it
https://twitter.com/redditinvestors/status/1354527206496751623?s=21
Sometimes the graphic view tells the story. Wish I had played for a couple of days just for the fun of it.
This isn’t investing, it’s gambling.
And the small guys (if that’s what they really are) are going against pros. Sometimes David beats Goliath, yes. But more often God is not on your side when you do stupid stuff like this.
^
at the same time a big group of individuals on Reddit noticed what was happening and proceeded to lead a campaign to buy the stock forcing it up to unprecedented highs, causing billions of dollars in loses to major Wall Street FirmsNext headline:
Reddit Bans Investor Subreddit
So doesn’t this now become the norm? This flash gang rogue investment opportunity weapon is launched at a company or an industry? A lot of people just used their $600 as play money.