Cool Story Bro (Wall Street)
- Thread starter ellu
- Start date
Actually Ellu this is VERY dangerous. It shows the unbridled danger of Social Media and how these platforms can be used to manipulate even the stock market causing a stampede. This company Gamestop was on the fast train to bankruptcy just a few short months ago. It is NOT good and shows how badly these companies (Twitter, FB, etc.) need further regulation. I fully expect an SEC investigation the likes of which has never been seen before.
It is however fascinating as millennials take on huge hedge funds (Robin Hood) in a stock on Redditt. One of these Hedge funds will not be able to cover their position and will probably go bust over this. Not everyone thinks that's so bad.
For sure. It’s always the balance of making a great profit or trying to hit the lottery. Sold my AMC for a 133% gain so baby steps.
Agreed. % gains quickly turn to $. My current favorite strategy is selling at the money calls on DKNG and PENN. Been a great play over the last 3 months now.
For years Wall Street short sellers have made billions by profiting off others misfortune. Perhaps these corporate raiders who make nothing and add nothing to the country will think twice before trying to crush companies. I think these Reddit guys did a great thing. I think after hours trading should be made illegal as its wholly unfair to the individual investor.
Its time the stock market stopped all this manipulation and speculation and reverted back to what it should be -an investment vehicle tied to real assets and valuation . Congress has welcomed this bad practice because these hedge funds donate to their political campaigns and often give some of them cushy opportunities when they leave office. Massive amounts of money have been funneled through our political system and have corrupted both parties and left the average guy ignored.
Its time the stock market stopped all this manipulation and speculation and reverted back to what it should be -an investment vehicle tied to real assets and valuation . Congress has welcomed this bad practice because these hedge funds donate to their political campaigns and often give some of them cushy opportunities when they leave office. Massive amounts of money have been funneled through our political system and have corrupted both parties and left the average guy ignored.
A little too simplistic in your approach my friend. For every buyer there must be a seller and for every seller there must be a buyer (shorts) the problem in my mind is Hedge Funds are granted serious benefits in taxation and access that small investors don't get. Both in taxation and access to public companies that give them a serious advantage. Further most Hedge Funds require a minimum of 500K or 1 million just to invest in them so they are not open generally to small investors only wealthier people. I have in my building numerous hedge fund and M&A guys living in my building. I have been in their home offices when they spend all day on the phone with CFO's and CEO's of public companies grilling them for information. We don't get that access, they do. We don't get LOSS CARRY FORWARD on our tax returns, they do. So while they have a role providing liquidity to the markets (necessary) there needs to be further regulations for them because they have been largely on a free for all.
