trading 212 on your mobile

Leo

Well-known member
they're all revved up now, I imagine they'll set their sites on another stock. doubt it's over.
 

IdleRich

IdleRich
"Stocks can go down as well as up... previous performance is not necessarily any guide to future returns"
 
  • Like
Reactions: RWY

Leo

Well-known member
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.”
 

Leo

Well-known member
funny, people get caught up in the righteous "little guy vs. Wall St" meme but in many ways this was no different from a classic pump-and-dump, where someone (in this case, many someones united by WallStreetBets) talks up a stock to inflate its value and then sells all their shares after all the chumps have jumped in. the "noble battle, sticking to hedge fund owners" positioning is genius PR but at the end of the day it's a classic scheme that typically gets investigated by the SEC.
 

IdleRich

IdleRich
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.”
That became their rallying cry didn't it? Something like "we can stay retarded longer than the hedge funds can stay solvent".
 

IdleRich

IdleRich
and how did that work out for them?
Better for some than others I expect. But broadly I agree, that the aphorism can be said to mean "Just cos you understand what moves the market, it doesn't mean that you are protected from losing money" - the redditors tried to invert that to "Just cos we don't understand the market doesn't mean we can't make money" - cos that also doesn't preclude losing money....
 

Leo

Well-known member
oh, absolutely. pump-and-dumps have existed for ages because they work for the ones behind it. in this case, the righteous "retards" got played by reddittors who spun the story but bailed when they thought the bubble was about to burst.

also, this wasn't all fueled by reddit retards. plenty of professional investors and wall st firms jumped in for the ride, they recognized which way the wind was blowing and capitalized on stock price movement.
 

Leo

Well-known member
normally there's no recourse to sue when investing (short of outright fraud), but will be interesting to see if courts find any liability for what appears to be mistake on the part of Robinhood and their complete lack of customer service response.
 

Leo

Well-known member
Reddit trading guru Keith Gill looks to have made over $25 million on his GameStop bet

Social-media trading star Keith Gill, known by his social-media nickname Roaring Kitty posted what is believed to be a screenshot of his trading portfolio to Reddit Wednesday afternoon that may show a massive position in videogame retailer GameStop Inc., made up of almost $19 million in equity and $8.9 million in options. The screenshot also suggests that he’s holding on to $11.9 million in cash.
 
Top