Poll of the Day > Reddit User uses Gamestop Stock to Pay Off Student Loans...

(+) Yeah! (+)

https://finance.yahoo.com/news/gamestop-reddit-student-loans-190949534.html

WTF, Social Media 'Driven' Stocks seems to be the 'Thing' nowadays...

too much work

id rather let it sit for 40 years in misc things and then check it later and *poof* money

pionear posted...

https://finance.yahoo.com/news/gamestop-reddit-student-loans-190949534.html

WTF, Social Media 'Driven' Stocks seems to be the 'Thing' nowadays...

Seems like an odd choice given that interest rates are incredibly low, but I guess makes sense if the guy has a cash flow problem servicing the debt.

pionear posted...

WTF, Social Media 'Driven' Stocks seems to be the 'Thing' nowadays...

dude you were not paying attention in class when they taught punctuation

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Short sellers lost $5 billion...

Yes, the short sellers lost more money gambling on GAMESTOP than it would take to solve Covid

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Lokarin posted...

Short sellers lost $5 billion...

Yes, the short sellers lost more money gambling on GAMESTOP than it would take to solve Covid

Guess you could say their bet.... came up short.


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lost out on so many profits by not having because GME

edit:

Zeus posted...

Guess you could say their bet.... came up short.

https://giphy.com/gifs/HSY8iWjQnhFC/html5

Robinhood has stopped all trading.... the reason given is that the people buying Gamestop stock are alt+right

...

Cash has no political bias.

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All I can think is "I wish I knew about this" I would have gotten 5k in stock which would have become 85k if my math is right?

BlackScythe0 posted...

All I can think is "I wish I knew about this" I would have gotten 5k in stock which would have become 85k if my math is right?

Man, seriously. I've been trying to keep money saved in case I get covid and have to take off work; if I had known about this I could have made out like a bandit.

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It's just an infamous pump and dump, which is actually an illegal scam. Not to sugar-coat it.

It had the wonderful side effect of bankrupting hedge funds, which have ruined many lives.

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Lokarin posted...

Robinhood has stopped all trading.... the reason given is that the people buying Gamestop stock are alt+right

Where did RH say this? Thats not the reason they gave me.

Yellow posted...

It's just an infamous pump and dump, which is actually an illegal scam. Not to sugar-coat it.

It had the wonderful side effect of bankrupting hedge funds, which have ruined many lives.

its only illegal when regular people do it

hedge fund managers do whatever they want

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I think a ton of people are get themselves into crushing debt over this

Im seeing people left and right talking about how theyre gonna just take out some quick preapproved loans and jump in on the next stock that r/wallstreetbets decides to brigade with short selling

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Mead posted...

its only illegal when regular people do it

hedge fund managers do whatever they want

It's illegal when anyone does it. The SEC just doesn't give a shit because the SEC is a joke, at least in my experience having my investments shorted to the ground for months.

And just because it was illegal doesn't mean it wasn't good. This is good old payback. The law wouldn't do it, so people took it into their own hands.

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Yellow posted...

It's just an infamous pump and dump, which is actually an illegal scam. Not to sugar-coat it.

It had the wonderful side effect of bankrupting hedge funds, which have ruined many lives.

Is it really a pump n dump if someone else is already trying to short sell it? It's a risk they took and they should have to face the consequences of it

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Muscles posted...

Is it really a pump n dump if someone else is already trying to short sell it? It's a risk they took and they should have to face the consequences of it

A pump and dump is when a group of investors hype up one stock to get it overinflated. The dump comes when you sell it at the top, leaving certain people with bags of useless capital. In this case market manipulators who made a living destroying small businesses, who were left bankrupt.

It was an illegal move by the little guy to fuck over the evil hedge fund managers in a story of vigilante justice and I hope it happens over and over again until there are no hedge funds left.

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BlackScythe0 posted...

All I can think is "I wish I knew about this" I would have gotten 5k in stock which would have become 85k if my math is right?

Yeah, I seriously couldve made bank ffs

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Yellow posted...

A pump and dump is when a group of investors hype up one stock to get it overinflated. The dump comes when you sell it at the top, leaving certain people with bags of useless capitol. In this case market manipulators who made a living destroying small businesses, who were left bankrupt.

It was an illegal move by the little guy to fuck over the evil hedge fund managers in a story of vigilante justice and I hope it happens over and over again until there are no hedge funds left.

I get that part but its not its just taking advantage of people to buy stock that won't go anywhere, the hedge fund is already buying it back so the investors aren't having the rug pulled out from under them, they're just beating the hedge funds at their own game

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Just put like $500 in AMC, lets see if this works

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Yellow posted...

It's illegal when anyone does it.

It literally isnt.

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Mead posted...

I think a ton of people are get themselves into crushing debt over this

Im seeing people left and right talking about how theyre gonna just take out some quick preapproved loans and jump in on the next stock that r/wallstreetbets decides to brigade with short selling

Yeah, if this proves to be an effective strategy. Someone will just make a computer program to buy up whatever stock is being hyped up by reddit before the average user can, so the average user will left holding the bag. I can see this ending badly pretty fast for people.

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Mead posted...

its only illegal when regular people do it

hedge fund managers do whatever they want

Yeah, I don't think colluding with forum members to buy a stock is illegal. It was not like they were lying or anything to get people to buy the stock.

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DragonClaw01 posted...

Yeah, if this proves to be an effective strategy. Someone will just make a computer program to buy up whatever stock is being hyped up by reddit before the average user can, so the average user will left holding the bag. I can see this ending badly pretty fast for people.

How do you mathematically define what "hype" is?
Frequency that it shows up?

shadowsword87 posted...

How do you mathematically define what "hype" is?
Frequency that it shows up?

I would say hype is defined as a rapid increase in posts realitive to the norm over a defined timeframe

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DragonClaw01 posted...

I would say hype is defined as a rapid increase in posts realitive to the norm over a defined timeframe

The question then is how sensitive it is, too sensitive and it's buying up yam and yam stocks, not sensitive enough and you're too late.

shadowsword87 posted...

The question then is how sensitive it is, too sensitive and it's buying up yam and yam stocks, not sensitive enough and you're too late.

Yeah that is the rub, but that is why quants are paid the bucks and I am posting on a video game message board.

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That's nothing compared to this

https://i.redd.it/opzucppb15e61.png

PK_Spam posted...

Just put like $500 in AMC, lets see if this works

I have $300 in AMC. Not expecting to "get rich" but screw the hedge fund guys and if I make a little extra money, okay.

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Muscles posted...

I get that part but its not its just taking advantage of people to buy stock that won't go anywhere, the hedge fund is already buying it back so the investors aren't having the rug pulled out from under them, they're just beating the hedge funds at their own game

Do you undestand what I'm saying? This was a good thing. I am pro-reddit users.

It was illegal, which is fine by me, because everything these firms do is illegal as well. They're buddies with the SEC so the law is meaningless as far as I'm concerned here.

Mead posted...

It literally isnt.

A pump and dump is illegal. My trading group used to do it and they all scrambled to hide the evidence when the time came. The people involved here may face legal consequences because they pissed off people with power.

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I do get what what you are saying but this isn't a pump n dump, they're trying to get all those investors more money not screw them out of it with lies

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The victims in this pump and dump "scheme" are the evil hedge fund managers that rigged the system.

If you aren't familiar with the terms we use that's fine but I'm not going to argue about it anymore.

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They knew the risks when they decided to short sell, just because it turned out bad for them doesn't mean it was a pump n dump

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https://nypost.com/2021/01/28/mets-owner-steve-cohens-point72-down-amid-gamestop-fallout/

Heh, the new Mets owner lost a few Billion...

Final Fantasy2389 posted...

I have $300 in AMC. Not expecting to "get rich" but screw the hedge fund guys and if I make a little extra money, okay.

This

put in another $250 today.

Depending on how things go, I might stay invested in different stocks that legitimately interest me.

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Yellow posted...

The victims in this pump and dump "scheme" are the evil hedge fund managers that rigged the system.

If you aren't familiar with the terms we use that's fine but I'm not going to argue about it anymore.

Well, some of the people who bought in late are also going to get hit hard by this once the stock begins to fall again. But yeah, the primary "victims" are hedge fund assholes who gamed the system to their benefit -- speaking out against stocks to drop the value so they could buy it on the cheap -- and even now probably used their clout to force RobinHood to freeze peoples' accounts and Discord to close chats.

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Good for them but that price hike was a fluke.

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BUMPED2002 posted...

Good for them but that price hike was a fluke.

lolwut?

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