$5 is the threshold for a penny stock.
There are now a few multimillionaires as a result of this swing.
I've requested the mods give us our own wallstreetbets.win address so that we don't have to keep going back to that cursed hellhole. The fact that WSB gets away with their language just shows that the banning of TheDonald was never about any of the comments made there.
He has been buying those options since June of last year and was deep out of the money on them.
Basically he orchestrated the greatest pump and dump of the decade and lucked out that some hedge funds got greedier than him and shorted more shares than exist so he'll be able to squeeze them to max his profits.
It had been under $5 for almost a year, started jumping around $7-10, then dropped back down when the market crashed. It was around $3. It started jumping around $7-10, and then this happened.
I saw something it was a penny stock, 40 cents.
But when I looked at the history chart its low seemed to be $4.
Am I missing something? Read an article a reddit dude Is multimillionaire as a result.
$5 is the threshold for a penny stock. There are now a few multimillionaires as a result of this swing.
I've requested the mods give us our own wallstreetbets.win address so that we don't have to keep going back to that cursed hellhole. The fact that WSB gets away with their language just shows that the banning of TheDonald was never about any of the comments made there.
Any idea what "options" would have allowed a guy to buy at 40 cents?
The instigator of this, u/deepfuckingvalue shows he bought at $GME @ $0.40.
This is what I am trying to understand.
https://www.reddit.com/r/wallstreetbets/comments/l2x7he/gme_yolo_update_jan_22_2021/
He has been buying those options since June of last year and was deep out of the money on them. Basically he orchestrated the greatest pump and dump of the decade and lucked out that some hedge funds got greedier than him and shorted more shares than exist so he'll be able to squeeze them to max his profits.
Try out this plugin called Privacy Redirect and the sites that scrape reddit like Libredd.it.
https://libredd.it/r/wallstreetbets
Penny stocks are anything under $5.
It had been under $5 for almost a year, started jumping around $7-10, then dropped back down when the market crashed. It was around $3. It started jumping around $7-10, and then this happened.
I don't believe it ever dropped below $1.
It's a complex situation involving captive buyers. If you want to be part of history, buy a share and sell toward close on a Friday.
This is not financial advice, you may lose money, but this will be in text and history books.
I actually am trying to buy but ameritrade is too busy to log in.
You don't use robinhood? I bet your wife doesn't even have a boyfriend!