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GameStop stock

Discussion in 'Bad Dog Cafe' started by uriah1, Jan 27, 2021.

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  1. nickmsmith

    nickmsmith Tele-Meister

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    Social media has changed the very fabric of society, the very idea of "truth," and business. Some positive ways, some very negative ways.

    And the toothpaste is out of the tube. No going back at this point.
     
    Last edited: Jan 28, 2021
    tubedood and uriah1 like this.
  2. bgmacaw

    bgmacaw Poster Extraordinaire

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    Uh, oh! I see where this thread is heading...

     
  3. Danb541

    Danb541 Friend of Leo's

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    Very True.
    Some people act like no one ever manipulated the market before this week.
     
  4. Danb541

    Danb541 Friend of Leo's

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    Yep, Like I said, some people act like no one ever manipulated the market before this week.
     
  5. ndcaster

    ndcaster Doctor of Teleocity

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    so were the automatic sales just margin calls? how much of this was bought on margin?
     
  6. Steerforth

    Steerforth Friend of Leo's

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    Yes, very true. We actually have a hybrid system.

    When everything is booming and they’re making money hand over fist, everything belongs to the rich.

    But when something goes wrong and they start losing money, we all own it and have to bail things out.
     
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  7. bgmacaw

    bgmacaw Poster Extraordinaire

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    Don't know exactly. Last I heard some of the forced sales were margin calls but others weren't. It's one of those "breaking stories".
     
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  8. uriah1

    uriah1 Telefied Gold Supporter

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    I wonder if computer trading boosted this.
     
  9. boris bubbanov

    boris bubbanov Tele Axpert Ad Free Member

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    I had a huge hoard of coinage silver, culled from circulation (face value), and I sold at $ 45 and was tickled to do so.

    I'm just wondering, what happens to Robinhood? I'm thinking, they weren't being open enough to all these nascent customers they were drawing in. What will those customers think, that Robinhood couldn't do their part to keep the squeeze on?
     
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  10. ndcaster

    ndcaster Doctor of Teleocity

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    frankly, if they did what they're accused of, I hope they're toast
     
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  11. boris bubbanov

    boris bubbanov Tele Axpert Ad Free Member

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    That's fine, for you. But what you are forgetting is, there's retired school teachers and numerous other folks who can pretend they can afford to lose - when they surely cannot.

    This is not dissimilar to if I am putting on, in my kayak, on The Upper Youghigheny River (expert run) and some neophyte sees me and tries to follow suit and I don't aggressively run him off and tell him he cannot join our small, trained group down the river. If he tags along, he might end up in an underwater sieve, and IMO it would be my fault. I can't do that to another human being - I respectfully encourage you to not "mislead by example".
     
    Last edited: Jan 28, 2021
  12. Howdog

    Howdog TDPRI Member

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    I read an article yesterday where they interviewed one of the members of the Reddit forum who was in on the deal since early in the month. Gamestop was trading at abour $150.00 or so when he was interviewed, he had made $150,000.00 and was planning on paying off $43,000.00 in student loans. Sounded pretty good until he said he was holding out until the stock hit $1,000.00. I told my son that he was going to ride the wave right back into the sand. As they say, pigs get fat, hogs get slaughtered.
     
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  13. loopfinding

    loopfinding Friend of Leo's

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    for as many people that are misreading the situation, there are literally thousands like me who have essentially bought a lottery ticket. call it crowdsourcing civil unrest.

    and, seeing as i have lived below the poverty line my whole adult life, i'm not so sympathetic to those who have the means dumb enough to make the decision to bet stupid amounts of money.
     
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  14. deytookerjaabs

    deytookerjaabs Friend of Leo's

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    https://www.swfinstitute.org/news/8...ne-rvk-and-others-over-hedge-fund-investments


    I'm not saying two wrongs make a right.

    But hedge funds like KKR/Blackstone have already tanked public funds on fraudulent promises through nepotistic shenanigans with folks who control the public's money flow.


    Edit: one of whistleblowers in this case wrote a book about it, not sure where I read it but the stories were pretty crazy about jetsetters flying in, getting certain folks kicked off a board to secure the public investments et cetera.
     
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  15. Toto'sDad

    Toto'sDad Telefied Ad Free Member

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    You were one of the lucky ones. For every guy like you, many took a bath. The last real run on silver, I think it hit fifty bucks an ounce. A friend of mine had nearly $500,000 worth at that value, I told him sell. He said it'll go higher, it didn't. He was rich for a while though. As far as Robinhood, I have no opinion of them if you are talking about Robinhood.com. As I stated, I got out of the market three years before I retired. I had done okay, nothing great, but I decided I had "enough" so I pulled everything out, and over a period of time worked to take my money out with the minimum taxes I could pay on it. It took several years, and I did nothing illegal, or even close to it, in fact it was by the book, but if you are patient there are ways to survive the taxation. I mean ten year patient. I'm also a cheapskate gambler, when I have gambled, I always had a cutoff plan for both losing, and winning. I lived in Vegas for a while, I've seen what just one more roll can do to people.
     
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  16. ForgeHound

    ForgeHound TDPRI Member

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    I'm 29 and I've noticed a serious downturn in quality of communities and content among my peers over the last few years. What used to be cool hobbyist/special interest communities with bad eggs here and there have turned largely into depressive powerplay moshpits--self righteous indignation, suspicious of each other, resentful of the world.

    I've been banned from communities for things like being suspected as a "plant" for the "other side" to push "controlled opposition"--it's like what?? 6, 7 years ago that type of behavior would have been considered a potential sign of paranoid schizophrenia, now it's sort of par for the course

    And honestly I kind of understand, for example, this user: https://www.reddit.com/user/thegentlemetre/ responded to one of my questions about history a while ago on reddit, it was a pretty specific and accurate answer, and the user elaborated on the answer, giving greater context to the political climate of the time, I responded, thanking them for the informative and thoughtful answer

    I find out later I was not talking to a person, but an algorithm funded by elon musk https://www.independent.co.uk/life-...gence-bot-reddit-ai-openai-gpt-3-b990856.html

    Now, which one of YOU is a bot ..am I real?
     
    Last edited: Jan 28, 2021
  17. deytookerjaabs

    deytookerjaabs Friend of Leo's

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    Comrade, why don't you rest up a bit, it's good for your health.
     
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  18. buster poser

    buster poser Friend of Leo's Platinum Supporter

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    Hear hear. Google 'how hedge funds bankrupt municipalities' and you'll get more than a few hits. Puerto Rico, Detroit, et al
    Amen. If people (whether 'retail' or pro investors) didn't learn anything betting on... er... "investing" in debt 12-13 years ago, I've got no sympathy whatsoever.
     
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  19. loopfinding

    loopfinding Friend of Leo's

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    knowing that some bastards at melvin capital are ruined when my net worth is under 10k is a perfectly suitable act of nihlism in my book for the small amount of money i threw in. who's next on the hitlist? keep the dopamine coming.
     
  20. ForgeHound

    ForgeHound TDPRI Member

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    Hey I'm not your comrade, pal
     
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