i do not know what it means but apparently reddit dorks are bankrupting hedge fund ghouls as a joke and it seems dope and different so please discuss itt
team funds got on this early and it's PR cover that is useful to basically all but the singular fund getting rolled more than a robinhood scenario
i hope countless hedge funds are bankrupted by this thing that i totally understand. make those people suffer
i am just glad this confirms my suspicion that the stock market and the economy in general is all a meme
America has taken up sports betting on college football Saturdays and NFL Sundays and translated it into gambling in the stock market Monday-Friday. Only difference is the big banks, hedge fund firms, investment companies etc didnt have a fail safe in place in some areas like the casino. Some savvy investors are pulling strength in #'s with this new gambling crowd and people are making big $$$$$$$ chasing runs like they are at the craps table. .
someone explain short selling to my friend who didn’t go to business school and make really good grades
Basically you sell a stock you don’t yet have by borrowing it. You then owe shares to wherever you borrowed from. Price goes up on the stonk(stonks only go up) and the short loses money. Has infinite risk because the price can keep going up.
WSB got me on $NIO and $PLUG early, but I never saw the appeal of GameStop because I’m super smart apparently.
short = you've purchased the right to X [X=buy or sell] long = you've sold obligation to (opposite of X) short makes money when the stock falls
Well, logically, you’d have been right to avoid GameStop. But logic has long since gone out the window here.
The best way I can think of to explain it: You know how scalpers sell tickets to big events right after they sell out (or teams are confirmed for a big game?) and then, once they sell, go out and actually buy the tickets for less than they sold them for and pocket the difference? That's short selling Remember the 2012 BCS title game between Oregon/Auburn when this happened and there were no tickets for sale to scalpers to buy and prices went above $10,000 as scalpers were desperate to fill their orders? That's a short squeeze, which is what is happening now
Sitting on the couch in the house I bought with profits shorting Tesla I definitely lost some money back during the middle portion of 2020. haven’t had a position in Tesla in 6+ months. going to short GME either tomorrow or Thursday
Yepp, some guy on Twitter mentioned it. It’s up 66.33% in off hours trading. I bought some shares to see if I get ride a little tomorrow.
Buying puts is one thing if you don’t mind the premium but why people are clamoring to short the stock in the biggest squeeze of all time still confuses me
You presell a PS5 on eBay for $800 thinking you can just go to the score, get it for $500, then make an $300 profit. On release day every store is sold out and lots of people had the same idea and pre-sold PS5s and are desperate to buy them to deliver the order they already sold. With every scalper fighting over so few PS5s, the people who ended up with them can charge $900...then $1000...then $1100 and you're suddenly down a lot on your idea.
I got 5 shares at $40 just to jump on the meme train and 5 shares of BB at $15 because I thought that would be next. I'm too chicken shit to put real money into it.