Bunch of people on reddit wallstreetbets saw that some hedgefunds had shortsold a shit ton of GameStop, expecting it to crash. That pissed them off.
So they got on a bandwagon and bought a shit ton of the short sold stock. Which overinflated the value. That sub has 2.5 million subscribers.
Anyway, there are people on there who are dumping cash back into it. Free market supply and demand. There was a supply, people were demanding it, and the stock values went up.
So, is there a way to do this to an evil company? No. Buy enough shares to get yourself a seat on the board.
As for learning how to trade, go back to reddit. Don't sign up. Just read wallstreetbets. Get into day trading if you want. I did (as of yesterday). My $25 that I put into gamestop bought me 1/10 of a share. it's worth $50. Paid more than the lottery. Robinhood is a good place to start too. It's an app for microtransactions of stocks.
In another life I was a financial planner, so, I kinda have an understanding of some of this.
SEC will not allow this and anyone suggesting otherwise is a glowie fuck trying to set up another shake down. 50 cent was busted for doing this with penny stocks.
Hedge Funds have loads of intelligence to make decisions and often they dump and short by portfolio management. Usually they have an army of lawyers and nobody can prove anything.
A group of shills working online to manipulate the market is intentional and illegal. SEC does not fuck around and they will bury anyone involved.
Yeah, I was replying to OP's question which was, what happened. You're right, though. This won't fly. I believe the technical term is market manipulation. You get a bunch of people to all buy the same stuff, overinflating the value, and then sell it off.
It comes with heavy penalties. Watch them give Atnifa a free pass like they did with the riots. 6 months from now rhey will shill up a situation where conservatives feel they can do the same thing but it will be another set up like they did on the 6th.
Agreed. One does not want the SEC/FBI/IRS teaming up to give you an anal covid swab.
And, by the way, I wasn't trying to come across saying it wasn't "questionable" behavior. I was just trying to lay out the facts of the case as best I understood them.
We SHOULD all know how to invest and trade a bit. It can be fun and rewarding, if you do it right. But you have to stay within the law.
First. Eew. Second, try it out and go for it. If you want that.
There's an article I read on the Daily Mail that said that China was going for that as it's more accurate. To me, it proves that the gov't really is trying to stick it in our butts.
Also, any recommendations on resources for learning how to trade for complete morons would also be appreciated.
Trading is not for the faint of heart...you will likely go broke trying. Most do.
The best thing you can do is maybe read something like the Coffee house investor, by Bill Schultheis.
It's simple. It's easy. It' succinct. It's to the point. And it's sound long term investing advice.
It can drive you nuts.
Bunch of people on reddit wallstreetbets saw that some hedgefunds had shortsold a shit ton of GameStop, expecting it to crash. That pissed them off. So they got on a bandwagon and bought a shit ton of the short sold stock. Which overinflated the value. That sub has 2.5 million subscribers. Anyway, there are people on there who are dumping cash back into it. Free market supply and demand. There was a supply, people were demanding it, and the stock values went up. So, is there a way to do this to an evil company? No. Buy enough shares to get yourself a seat on the board. As for learning how to trade, go back to reddit. Don't sign up. Just read wallstreetbets. Get into day trading if you want. I did (as of yesterday). My $25 that I put into gamestop bought me 1/10 of a share. it's worth $50. Paid more than the lottery. Robinhood is a good place to start too. It's an app for microtransactions of stocks.
In another life I was a financial planner, so, I kinda have an understanding of some of this.
SEC will not allow this and anyone suggesting otherwise is a glowie fuck trying to set up another shake down. 50 cent was busted for doing this with penny stocks.
I don't understand any of this, but wasn't that exactly what the hedge fund was doing? The crime is messing up their manipulation?
Hedge Funds have loads of intelligence to make decisions and often they dump and short by portfolio management. Usually they have an army of lawyers and nobody can prove anything.
A group of shills working online to manipulate the market is intentional and illegal. SEC does not fuck around and they will bury anyone involved.
Yeah, I was replying to OP's question which was, what happened. You're right, though. This won't fly. I believe the technical term is market manipulation. You get a bunch of people to all buy the same stuff, overinflating the value, and then sell it off.
It comes with heavy penalties. Watch them give Atnifa a free pass like they did with the riots. 6 months from now rhey will shill up a situation where conservatives feel they can do the same thing but it will be another set up like they did on the 6th.
Agreed. One does not want the SEC/FBI/IRS teaming up to give you an anal covid swab.
And, by the way, I wasn't trying to come across saying it wasn't "questionable" behavior. I was just trying to lay out the facts of the case as best I understood them.
We SHOULD all know how to invest and trade a bit. It can be fun and rewarding, if you do it right. But you have to stay within the law.
has anyone taken user name analcovidswab yet?
First. Eew. Second, try it out and go for it. If you want that.
There's an article I read on the Daily Mail that said that China was going for that as it's more accurate. To me, it proves that the gov't really is trying to stick it in our butts.