Current Events > Lost 20k on gme stocks

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merc1231
02/01/21 6:22:17 PM
#1:


This is what happens when yoloing goes wrong.

bought at $350 cause Reddit told me the stock will hit $1000 and now its under $200.

there goes my life savings.

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The Trent
02/01/21 6:22:59 PM
#2:


receipts

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your cash and your jewelry is what i expect
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Blue_Inigo
02/01/21 6:23:02 PM
#3:


Hold

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refmon
02/01/21 6:23:12 PM
#4:


I put 50 on dogecoin and that was it.

Everyone else was just too late to the party

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CommonStar
02/01/21 6:23:34 PM
#5:


That's one expensive lesson.
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__aCEr__
02/01/21 6:23:47 PM
#6:


Gamestop sticking it to gamers again!

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CADE FOSTER
02/01/21 6:24:01 PM
#7:


hold the line boy
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#8
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#9
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merc1231
02/01/21 6:25:45 PM
#10:


Blue_Inigo posted...
Hold

for what? Please explain how the stock can go back to $350. I dont even care about the gains anymore. I just want to break even at this point

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#11
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Darmik
02/01/21 6:26:30 PM
#12:


I hope you aren't serious.

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CouldBeAnAlt
02/01/21 6:26:42 PM
#13:


Power to the gamers
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MabusIncarnate
02/01/21 6:26:54 PM
#14:


It made a lot of people a lot of money and I don't blame them for taking it and running and saying fuck everyone else. Most that invested probably pulled today more than they have ever had in their bank account in their life, too tempting.

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Hexenherz
02/01/21 6:27:00 PM
#15:


@op next time please invest in $HEXENHERZ thx

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merc1231
02/01/21 6:27:52 PM
#16:


MabusIncarnate posted...
It made a lot of people a lot of money and I don't blame them for taking it and running and saying fuck everyone else. Most that invested probably pulled today more than they have ever had in their bank account in their life, too tempting.

what does this mean?

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Lost_All_Senses
02/01/21 6:28:11 PM
#17:


merc1231 posted...
I just want to break even at this point

So...you clickbaited?

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Doom_Art
02/01/21 6:28:12 PM
#18:


jUsT kEeP hOlDiNg ThOuGh

y'all got taken for a ride

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Darmik
02/01/21 6:28:42 PM
#19:


merc1231 posted...
what does this mean?

A lot of people have sold their GME stock at all-time highs and have way more money because of it.

You did the opposite.

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AlisLandale
02/01/21 6:30:14 PM
#20:


How much money do you have to lose before you can use it as a tax write off? >_>

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Prismsblade
02/01/21 6:31:57 PM
#21:


merc1231 posted...
for what? Please explain how the stock can go back to $350. I dont even care about the gains anymore. I just want to break even at this point
No one thought GME rising as high as it did barely a month ago was even possible. So retuning to and surpassing $350 again isn't far fetch.

Especially if the retailer manages to make a comeback down the line. Alough it could be years even before that.

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MabusIncarnate
02/01/21 6:32:23 PM
#22:


merc1231 posted...
what does this mean?
Say someone bought 50 shares at $40, that's worth $2,000

It shoots up to $320 and you own 50 shares, it's now worth $16,000

You sell it and now your $2,000 just turned into $16,000

People were like oh fuck that's a lot of money and sold, and the overall stock value plummeted

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#23
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__aCEr__
02/01/21 6:33:59 PM
#24:


I'm sure all the people on Reddit who were doing this to stick it to hedge fund managers will be racing to help out folks who fucked themselves.

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merc1231
02/01/21 6:34:00 PM
#25:


MabusIncarnate posted...
Say someone bought 50 shares at $40, that's worth $2,000

It shoots up to $320 and you own 50 shares, it's now worth $16,000

You sell it and now your $2,000 just turned into $16,000

People were like oh fuck that's a lot of money and sold, and the overall stock value plummeted

so is there a way I can get my money back ?

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MabusIncarnate
02/01/21 6:34:35 PM
#26:


Future_Trunks posted...
thats not what happened with GME, it wasnt a traditional pump and dump
Oh, I really didn't follow the GME thing, I just assumed how all stonks worked

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BignutzisBack
02/01/21 6:34:48 PM
#27:


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Lost_All_Senses
02/01/21 6:35:06 PM
#28:


merc1231 posted...
so is there a way I can get my money back ?

Hope people do that again. But now the hedge fund folks are on the offensive and probably won't allow it to happen. I'm not the guy to talk to tho. Super uneducated guess

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emblem boy
02/01/21 6:35:07 PM
#29:


Post the loss porn
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MabusIncarnate
02/01/21 6:35:21 PM
#30:


merc1231 posted...
so is there a way I can get my money back ?
Listen to Future_Trunks, not me. My example was a regular stock, this is something different apparently. I didn't know.

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#31
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ShyOx
02/01/21 6:35:26 PM
#32:


merc1231 posted...
for what? Please explain how the stock can go back to $350. I dont even care about the gains anymore. I just want to break even at this point

it just bounced from 400 to 211. Sell at the next peak if youre terrified.

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Darmik
02/01/21 6:35:32 PM
#33:


You do have a lot more savings into some sort of index fund or something right? Right?!

You didn't break the one rule of only investing what you're willing to lose in a volatile situation like this right? Right?!

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BlockAddition
02/01/21 6:35:50 PM
#34:


Imagine paying money for a meme

You got played

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emblem boy
02/01/21 6:35:56 PM
#35:


AlisLandale posted...
How much money do you have to lose before you can use it as a tax write off? >_>


You can deduct up to 3k max a year. If you have more than 3k, you just roll it over to next years taxes
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CapnMuffin
02/01/21 6:41:24 PM
#36:


Oooooof

I mean thats what can happen when you buy something overvalued. Im always leery about hype trains because chances are you heard about it too late and are just funding the early riders.
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AlisLandale
02/01/21 6:42:58 PM
#37:


emblem boy posted...
You can deduct up to 3k max a year. If you have more than 3k, you just roll it over to next years taxes

Sweet. Hear that TC? Youve got almost 7 years of tax write-offs!

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merc1231
02/01/21 6:47:14 PM
#38:


AlisLandale posted...
Sweet. Hear that TC? Youve got almost 7 years of tax write-offs!

i dont even know how taxes work

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ShyOx
02/01/21 6:50:07 PM
#39:


You need to hold until it reaches another peak. Its going to break 300 again the same way it did last time, because hedge funds are driving it down so they can cover these shorts.

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MabusIncarnate
02/01/21 6:50:48 PM
#40:


Wait, and don't take this the wrong way because I just put out incorrect information, but you dropped $20,000 without knowing how any of it worked? That's a lot of money man.

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Number090684
02/01/21 6:51:19 PM
#41:


lmao If true this is what you get for gambling away a very large amount of money in hopes of getting rich.
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CouldBeAnAlt
02/01/21 6:51:28 PM
#42:


merc1231 posted...
i dont even know how taxes work
But you're throwing around 20k on stocks? Uh huh
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BilalPowell
02/01/21 6:52:34 PM
#43:


This is why i dont yolo in stonks. Slow and steady wins the race

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Solid Sonic
02/01/21 6:53:01 PM
#44:


I feel like if you were really screwed over you wouldn't be coming to GameFAQs to get it off your chest.

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onedarksoul
02/01/21 6:53:44 PM
#45:


CADE FOSTER posted...
hold the line boy


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BignutzisBack
02/01/21 6:54:13 PM
#46:


emblem boy posted...
You can deduct up to 3k max a year. If you have more than 3k, you just roll it over to next years taxes

Does this work with crypto? >___>

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LinkDaLunatic
02/01/21 6:56:16 PM
#47:


These drops were predicted two days ago. Current market manipulation tactics are driving down prices, but it's smoke and mirrors. At the end of the day, hedge funds need those stocks back or they risk going under. Quit whining, do some research and hold.
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merc1231
02/01/21 7:06:29 PM
#48:


LinkDaLunatic posted...
These drops were predicted two days ago. Current market manipulation tactics are driving down prices, but it's smoke and mirrors. At the end of the day, hedge funds need those stocks back or they risk going under. Quit whining, do some research and hold.

so I shouldnt sell first thing in the morning?

should I go to the bank and take out a loan and buy more gme stock ?

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ShyOx
02/01/21 7:07:37 PM
#49:


Alright this dingus is just some alt troll, ignore him everybody, just move along

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