No cost trading and the ever increasing information highway have completely changed the game. Fucking Reddit has the power of Blackstone
TIL: Sony is still making Walkman products. https://www.sony.com/electronics/walkman-digital-music-players/t/walkman
50k shares at just under $15. ~750k for the shares. 40k for the options. so just under 800k to 11.2 million. still an incredible gain on a ridiculous bet
Is following reddit for stock picks good practice now? I'm afraid to do it, but these gains are stupid
I think a good chunk of those shares came from options exercised that he sold enough of the options to pay for the shares.
So, like, we're talking you need at least 15k or more of play money to do what these guys on WSBs are doing, right?
Either that or total conviction into a winning play. The more you have, the more contingency is granted
It definitely not easy or common to triple your money in a short amount of time. A lot of them are making more risky options plays that can go to zero.
3 days after saying no day trading, he’s already feeling the FOMO. Lot of people going to lose their shirt.
i’m not getting into it i am just curious how everyone is finding out about these things. i am too much of a poor to daytrade
Both. Equity for high beta, derivatives for the more standard. Total inverse of what I learned in B school
B school probably didn’t tell you that a group of people who call each other retard and autistic would make you a nice chunk of change either.
The stock market universe rumor board has moved to r/WSB. yes. Market is way bigger than one stock, but it’s funny to sit on the sidelines and watch big cats Wall Street get buzz sawed by a bunch of internet nerds.
Eugene Fama, the Efficient Market Hypothesis, random walk theory. they had all the right answers for what happened 20 years ago.
team enjoy following the wsb insanity, remind myself half these folks or more are going to get roasted to combat fomo, and continue investing normally
I’m impressed that guy was able to stay in on that ride from 50k to 11 mil. I would’ve gotten off that train probably at 500k, 1M or any million after that. The balls (or stupidity) to ride freaking GameStop up to 220x with a real amount of money is insane
I believe they bought 98 call options at a price of .0577 each ($5.77 per contract which controls 100 shares) and by the end of the day each was priced at 11.95, or $1195 per.