LogFAQs > #950035143

streamofthesky posted...

He could sell. He couldn't buy.
Presumably it was the same experience for others.

When people can only sell, what direction do you think the stock price will go?

And I love how you can say that last part when the hedge funds coincidentally bought up more shorts right before these trading companies shut down these "meme stocks". How strange...

Where did I say that? I didn't. You completely missed the point. For all of the hedge funds on the short side, other hedge funds and investors are going to line up on the other side of the trade. That's how it works. I get that you understand none of this. But the claim that a few hedge funds that have a few billion at stake in one trade - and are a teeny tiny fraction of the capital available in the investing industry and the hedge funds and investors on the other side of the trade - can somehow dictate and control whether a stock can be bought or sold by someone else is pure idiocy.

Here's a thought. Read a little bit about how trading works and what hedge funds do. Then read about the Ackman vs. Icahn battle on HLF. I know you won't do it, but it illustrates the point.

Edit: Late on this point. But if your friend held AMC at 14 and couldn't buy today, that means he opened the position yesterday. AMC closed at about 20 yesterday. Your friend could easily have sold above 19 before closing and made 5 or roughly 30% on the trade. He knew this was a super super high risk trade and he decided to hold instead of taking a quick and easy profit. Now he's complaining that the price dropped all the way down to 8, and blames it on retail traders not being able to keep pumping it. In other words, he could have made an easy 30% but got greedy and lost on the gamble. I'm sorry, but fuck that guy sideways with a chainsaw and no lube. The guy he should be mad about is the one he sees in the mirror.