Assuming it is true, it could be a forced liquidation on a margin call: https://www.investopedia.com/terms/f/forcedliquidation.asp
Or something else in their margin account agreement. More reasons I don't mess with margin accounts. Borrow money to make investments, you have to play by the lender's rules.
Now, if the shares were owned in a regular account, with no margins (I doubt it), it'd be time for the SEC to get called in.
In reply to CrustyRedXpress (Forum Supporter) :
Me and you are alike.
but I've been thinking about playing and speculating on stocks for some time. All with a few dollars I can afford to lose.
if I make a few grand I buy a small fishing boat. If I don't. I don't but I've learned a lot.
In reply to Fueled by Caffeine :
If you do, I strongly recommend against buying stock on margin or shorting, as the risks are magnified. If you decide to put money in the market and want to go beyond basic buying and selling of stocks with cash on hand, you may want to look at options. They have an upfront cost, but not the near infinite downside of short selling.
In reply to eastsideTim :
Thanks.
but I'm a big boy and it's just for fun. I've also thought about trying program my own bot for trading. Should be a fun hobby.
In reply to CrustyRedXpress (Forum Supporter) :
The WSB crowd may be planning to sell when the buying volume indicates a short is being covered, at 140% short volume it should be huge.
AAZCD (Forum Supporter) said:TSLA didn't drop enough to trigger my Limit buy today. The money is sitting with Robinhood, who also stopped me from buying more AAL today because it was suspended along with the GME, NOK, AMC... trades. They pissed me off. Tomorrow it all goes in on GME and if they stop that, Everything transfers to another brokerage.
Unrelated sort-of: DOGE is now over .06. Over 350% gain today and climbing vertical at the moment. It was just a silly thing: "DOGE to $1.00!" I think it's actually going to happen.
Edit: When I stated posting it was bumping $0.06. After posting it's now over $0.08! 550% gain. ...Doge to $1.00!!!
Screw robinhood, go to Fidelity or another non-free commission broker. "Free" commission are not free, they sell your trading data and restrict your trades.
Fueled by Caffeine said:In reply to CrustyRedXpress (Forum Supporter) :
Me and you are alike.
but I've been thinking about playing and speculating on stocks for some time. All with a few dollars I can afford to lose.
if I make a few grand I buy a small fishing boat. If I don't. I don't but I've learned a lot.
I did this about 20 years ago when online brokerages were the new thing. I was up for a while, but eventually lost most of it. I chalked it up to experience and haven't touched the market since, other than my professionally-managed 401k, of course.
In reply to AaronT :
So we're waiting for one more, very brief period of high valuations, and then everybody runs for the door?
In reply to CrustyRedXpress (Forum Supporter) :
Stealing u/Fueled by Caffeine's link.
http://isthesqueezesquoze.com/
In reply to Tom_Spangler (Forum Supporter) :
Yeah that's what I'm thinking. My 401k is on automatic.
In reply to AaronT :
Haha, ok, I read it this time. And yeah, it looks like there will be a mad rush for the door with the smart money selling their shares the fastest for the highest amount. People not concentrating on this stuff 60/24/7 are gonna be slower and get a much lower price. It's also not clear to me how many shares will be available if/when the squeeze happens.
The mechanics(?) of this still look like a pump and dump of penny stocks to me. We saw this in 2000 with internet stocks, but instead of the yahoo forums we have reddit/twitter/discord, a sheen of populism, some memes, and a generation of traders who don't remember the last big one.
From the link:
What's a prisoner in this dilemma to do? At last, the point arrives. To avoid selling too early, the savvy degenerate gambler would wait until short interest - the amount of shares shorted out there - started to decline substantially. As long as nobody was defecting, nobody selling early, that decline in shares shorted would come with a spike in the price of the stock, as the few shares available are bought at astronomical prices. And this decline in shares shorted would distinguish this spike from gamma squeezes or regular old stock run-ups.
Then and only then, as the nuke goes off, the stock price ascends past Alpha Centauri, and the short interest finally starts declining, the short squeeze has begun. And then it's every gambler for themself.
In reply to CrustyRedXpress (Forum Supporter) :
Every single person on WSB remembers the last big one (2008) and a lot of them were personally impacted by that. The positions held by many on WSB are small enough that they won't get hurt even if the price tanks.
I think it's also disingenuous to label the longs a pump and dump while giving a pass to the people who shorted the gosh darn stock 140%.
AaronT said:In reply to CrustyRedXpress (Forum Supporter) :
Every single person on WSB remembers the last big one (2008) and a lot of them were personally impacted by that. The positions held by many on WSB are small enough that they won't get hurt even if the price tanks.
I think it's also disingenuous to label the longs a pump and dump while giving a pass to the people who shorted the gosh darn stock 140%.
I noticed that. Lots of people jumping on as a sort of revenge for 2008. They want to make Superman bleed, and damned if they aren't making a go of it.
Well, BB came down to $20 so I'm back in. See if it goes up again.
This is a wild ride.. I was planning to pick up another GME if it dropped below $300 today, so far, no dice! :)
Count me in with the legion of "I don't care if I lose it if a hedge fund or two go down in flames." This isn't retirement money or anything for me, if I didn't spend it here I'd waste it on car parts.
There's a LOT of people out for blood in this one. Listen to Sublime's April 29th, 1992 for the general vibe here. We may be inconsequentially small in this market, but even sharks need to be afraid of parasites if they can gang up.
This isn't a long term investment strategy. Like most people, that's taken up with 401K and Roths invested in VSTAX. If some hedge fund billionaires are inconvenienced and their firms taken down, we win; those guys are scum who are net-negative on society. If I can make enough for a Flyin Miata turbo kit as well, I'd be thrilled.
Can you imagine being the poor guy that has to write this chapter in a history book 10 years down the road? How do you not come off as a complete crazy person? "In the beginning of 2021, a hedgefund insulted an ailing company and drew the ire of a internet community, who then proceeded to wring the hedgefund's necks until they squealed."
WonkoTheSane (FS) said: If I can make enough for a Flyin Miata turbo kit as well, I'd be thrilled.
This. This right here. If you make money, your plan is to turn around and spend it with a small business. Not just sock it into a bank account, but put it back into the economy. I'm seeing LOTS of comments like this from the WSB crowd, and I like it.
CrustyRedXpress (Forum Supporter) said:
What happens a week from now when GME is 1k a share and largely owned by retail investors?
GME then does a hostile takeover of steam to become viable and profitable and becomes the bad guy in enemy in the process.
Also I propose that the next stimulus package be 1400 doge coins and reddit determines what a doge coin should be at market wise and the financial future of the average US citizen.
Robbie (Forum Supporter) said:What if the redditors are really just people running competitive hedge funds?
I'm going to bring this up again. Before we assume any of this is a win for the 'little man', let's really be sure who is actually running the show. Reddit gives a lot of annonimity if im not mistaken.
And anytime you have investors rallied around the "i don't care if I make or lose money but I want to see THEM burn" mentality, it SCREAMS manipulation to me.
I'm going to go ahead and call it now that there is some hedge fund somewhere making out like a bandit in all of this, and when all of the retail investors who 'helped' get screwed when the bottom drops back out of these stocks, who's really going to suffer?
This is just another scheme where the "rich" get to rake in all the stimulus money that was 'given' to the people but the people give it away instantly. Trickle up economy, you might say.
Robbie (Forum Supporter) said:Robbie (Forum Supporter) said:What if the redditors are really just people running competitive hedge funds?
I'm going to bring this up again. Before we assume any of this is a win for the 'little man', let's really be sure who is actually running the show. Reddit gives a lot of annonimity if im not mistaken.
And anytime you have investors rallied around the "i don't care if I make or lose money but I want to see THEM burn" mentality, it SCREAMS manipulation to me.
I'm going to go ahead and call it now that there is some hedge fund somewhere making out like a bandit in all of this, and when all of the retail investors who 'helped' get screwed when the bottom drops back out of these stocks, who's really going to suffer?
This is just another scheme where the "rich" get to rake in all the stimulus money that was 'given' to the people but the people give it away instantly. Trickle up economy, you might say.
I obviously can't speak for anyone else, but I assume all other players in this game are hostile and working for their own self interest, and have vastly more resources in play than I do with my few paltry stocks. I would absolutely expect that there's a few firms that are going to get VERY rich off of the corpse of their bretheren. The real trick here is that they're shorted by 140%, so basically, 40% of the shorts have to be sold before we get into there being unshorted stocks to purchase. That means there (should be) some buffer between the peak and the hard drop. That's when everyone with insider information will try to get out, and people like me will also be scrambling when the other rats start jumping off the ship.
To qoute the website linked to by Fueled By Caffeine:
What's a prisoner in this dilemma to do? At last, the point arrives. To avoid selling too early, the savvy degenerate gambler would wait until short interest - the amount of shares shorted out there - started to decline substantially. As long as nobody was defecting, nobody selling early, that decline in shares shorted would come with a spike in the price of the stock, as the few shares available are bought at astronomical prices. And this decline in shares shorted would distinguish this spike from gamma squeezes or regular old stock run-ups.
Then and only then, as the nuke goes off, the stock price ascends past Alpha Centauri, and the short interest finally starts declining, the short squeeze has begun. And then it's every gambler for themself.
I was really happy with Robinhood until yesterday. This whole Wall Street Bets thing was just amusing. Then Robinhood turned on *me* and I wasn't even in the game. The Wall Street insiders actions have turned a lot of 'inactivists' into activists. I emailed my congressmen for the first time in about a decade yesterday. I'm going to lose a little money today or Monday. I'm fine with that.
can the "winners" buy a Las Vegas hotel , name it Game Stop and have vintage video games that pay off like regular gambling ,
Then all those hours in the basement playing Pacman will pay off........
ShawnG said:Well, BB came down to $20 so I'm back in. See if it goes up again.
In at $15.25.
I had a couple hundred left over from my "Dogs of Dow" account dividends that weren't reinvested. Why not join in the fun for once?
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