Anyone following the stock market and what the folks at reddit are doing?

I had no idea we had so many stock experts on this board.  It's almost the same amount of infectious disease experts we have.  What are the chances on a car board? Good thing no politics are allowed or we'd be overwhelmed with experts on US Election laws....

I think it is funny. That being said, I don't really want to look at the balance on my 401K today. 

So these guys used their free money to jack around with some hedge funds. I used mine to buy a baritone saxophone. Hope they are having as much fun as I am. 

In reply to Steve_Jones :

The difference is if you get a bunch of people who think that they're stock expert and they all buy into the same stock that's exactly how you make money in stocks, because yet again it's all a posi scheme

It's going to be interesting to see what happen when it all comes crashing down. There are a lot of people that will be left holding the bag and it may just destroy Gamestop. 

In reply to Toyman01 (Moderately Supportive Dude) :

Isn't that what the hedge funds were betting on. That Gamestop would be destroyed. 

EarlSpot said:

In reply to WonkoTheSane (FS) :

Nice.   Certainly we should assume that everyone on Reddit has the same level of education and experience that you do, or perhaps and possibly likely, even more. Why the fundamentals of the stock show that this sudden move was a rational and logical decision by a bunch of investors on Robin Hood and the fact that they just happen to have received some free money that isn't in the budget is a mere coincidence. 
 

Now go get mad get mad at somebody else just because they disagree with you.  

What free money? 

At what price did the Hedge Funds buy Gamestop ?

And say 10% of the Reddit buyers sold Monday morning , at $300 a share are there buyers ?

That also is the problem with Bitcoin , if there was a run to sell there is no buyers .

And car guys are the same ,  you have a 65 Mustang fastback thats worth  X amount , but if every 65 Mustang owner wanted to sell the price would be X minus ?????  and only a few buyers......

Its an interesting "game" ,  and Roaring Kitty  is playing the crowd  .....

In reply to californiamilleghia :

The hedge funds are short on GME, they have sold but not bought yet. This makes them the future buyers to return their borrowed stocks. This is more like you need a winter commuter car and told your wife you already bought one for $1500 but beaters are going for $25k and you haven't bought one yet and she wants to see it when she gets home. 

captdownshift (Forum Supporter) said:

In reply to Steve_Jones :

The difference is if you get a bunch of people who think that they're stock expert and they all buy into the same stock that's exactly how you make money in stocks, because yet again it's all a posi scheme

That's a really harsh assessment of 401Ks and the marketing that lead to their creation and proliferation.

RevRico said:

4-5 business days to move money from my credit union to robinhood, Damn, guess I'm not playing unless I sell that single share of zinga I have that's tripled in value since 2018

As of 5 minutes ago, Nokia under $5, blackberry at $17.

Don't tempt me. I have 30k sitting on my desk right now. Gambling that hard could pay for a house and put me in retirement. 

In reply to Mndsm :

Do it!

Edit: How'd you get the 30k on your desk? Play money or for paying the bills?

So are we just getting into a conversation about good values in stocks with the Nokia, AMC,  and Blackberry stuff or is it part of the "get the hedge fund guys" plan?

Edit: googled after posting and got most of the answer, but feel free to answer as if I hadn't.

I'm surprised that the headline hasn't been twisted to "Domestic Terrorists Attempt to Take Down the Backbone of the American Economy!" yet.

Indy "Nub" Guy said:

In reply to Mndsm :

Do it!

 

Edit: How'd you get the 30k on your desk? Play money or for paying the bills?

Secret hidey hole. 

More boring story? The house I asked about trying to buy directly from a friend for undisclosed reasons? Actually trying to buy it. Swmbo likes it. 

In reply to yupididit :

Uhm,  $600 per head stimulus check? 

In reply to EarlSpot :

Our taxes paid for it. 

Mndsm said:

RevRico said:

4-5 business days to move money from my credit union to robinhood, Damn, guess I'm not playing unless I sell that single share of zinga I have that's tripled in value since 2018

As of 5 minutes ago, Nokia under $5, blackberry at $17.

Don't tempt me. I have 30k sitting on my desk right now. Gambling that hard could pay for a house and put me in retirement. 

I've got much more lucrative investments for that kind of money than some stock market scheme

RevRico said:

Mndsm said:

RevRico said:

4-5 business days to move money from my credit union to robinhood, Damn, guess I'm not playing unless I sell that single share of zinga I have that's tripled in value since 2018

As of 5 minutes ago, Nokia under $5, blackberry at $17.

Don't tempt me. I have 30k sitting on my desk right now. Gambling that hard could pay for a house and put me in retirement. 

I've got much more lucrative investments for that kind of money than some stock market scheme

Do tell.

MrJoshua said:

RevRico said:

Mndsm said:

RevRico said:

4-5 business days to move money from my credit union to robinhood, Damn, guess I'm not playing unless I sell that single share of zinga I have that's tripled in value since 2018

As of 5 minutes ago, Nokia under $5, blackberry at $17.

Don't tempt me. I have 30k sitting on my desk right now. Gambling that hard could pay for a house and put me in retirement. 

I've got much more lucrative investments for that kind of money than some stock market scheme

Do tell.

Ditto

EarlSpot said:

In reply to yupididit :

Uhm,  $600 per head stimulus check? 

Where do you think the govt gets that money? It isn't free money, it's getting our own money back. 

CrustyRedXpress (Forum Supporter) said:

In reply to EarlSpot :

Our taxes paid for it. 

At this point the Govt is so far in debt our taxes will pay for the interest on it.  Maybe our grand children will actually pay for it. Maybe.

In reply to mtn (Forum Supporter) :

Large some what convertible space, close to where people are or gather. AMC becomes a chain of gaming stadiums?

In reply to EarlSpot :

How’s telling the class about your Spider Veloce?

When do the short sale guys have to replace the stock they optioned ?

is it random days or the first of the month?

Thanks for the info