Investments, stocks, shares

[martyn]

That GameStop stuff is wild. I wouldn't be going near it, and that is from someone who holds crypto!

[tom27111]

This is crazy, must be some news imminent?

 

 

[martyn]

20 hours ago, Christoph said:

Citron borrowed some gamestop shares and sold them. Soon, it will have to buy them back. Citron is hoping to buy them back at a lower price, so they make money. WSB (a reddit subreddit for gambling on stock markets) is trying to buy all the available shares. When citron has to buy, there won’t be any cheap shares left. There will be very few expensive shares. But citron will have to buy, at any price. When all the expensive shares are gone, they will have to start buying the very expensive shares.

This is called a short squeeze, and can cause the price of a stock to skyrocket. That’s why WSB is still buying at 50 - they expect to be able to sell at 100.

 

I bought 900 worth at 97p a share. Up £400 already now

Been doing some more reading about this.

 

Some chap on reddit has turned $50k into a portfolio of $13.5m as of right now. At it's peak yesterday it was $24.5m.  He has cashed out almost $5m to date.

[Christoph]

3 hours ago, martyn said:

Been doing some more reading about this.

 

Some chap on reddit has turned $50k into a portfolio of $13.5m as of right now. At it's peak yesterday it was $24.5m.  He has cashed out almost $5m to date.

It's a a game of chicken between hedge fund billionaires and retards on the Internet. I think the hedgefund is underestimating just how retarded the Internet can be. 

[Carl the Llama]

Hehehehehe stonks 

[Carl the Llama]

Seriously though I feel bad for anyone who didn't get in on GME <100, got lucky catching the reddit brouhaha as it was developing, the word is if it can be kept over 115 by Friday close a lot of the hedges will need to crystallise their losses and buy shares, big big squeeze coming.  Just don't put in what you would lose sleep over losing.  Obviously.

[Christoph]

Lads you were given the chance.

18 minutes ago, Carl the Llama said:

Seriously though I feel bad for anyone who didn't get in on GME <100, got lucky catching the reddit brouhaha as it was developing, the word is if it can be kept over 115 by Friday close a lot of the hedges will need to crystallise their losses and buy shares, big big squeeze coming.  Just don't put in what you would lose sleep over losing.  Obviously.

Yes I am up 550 from 1000 put in on Monday. Diamond hands only here. Looking forward to Friday and Monday. Going to be a bloodbath.

 

Friday closed 65, Monday 75, today 146....tomorrow likely to,be above 200. **** knows what happens Friday

Edited 26 January 2021 by Christoph

[Carl the Llama]

4 minutes ago, Christoph said:

Lads you were given the chance.

Yes I am up 550 from 1000 put in on Monday. Diamond hands only here. Looking forward to Friday and Monday. Going to be a bloodbath.

 

Friday closed 65, Monday 75, today 146....tomorrow likely to,be above 200. **** knows what happens Friday

To the moon my dude.

[sdb]

I don't have a scooby what anyone is on about here but if you fancy giving an idiot a hand, let me know. Keen to try out with a few hundred if there's a good tip. I'm the idiot btw 🤪 

[Christoph]

Elon musk has just tweeted about the gme stocks and wall street bets on reddit. Thats it now lads. Strap in were off to the moon this Friday. 175 after market

[Carl the Llama]

Just now, sdb said:

I don't have a scooby what anyone is on about here but if you fancy giving an idiot a hand, let me know. Keen to try out with a few hundred if there's a good tip. I'm the idiot btw 🤪 

Christoph probably has better advice but if you wanna copy me get yourself on an app called eToro (you have to answer an investment question during the application process, the answer is the one about investing $200 at 5x leverage) and put it on GME with no leverage and no stop loss, do anything else and the broker will use shady tactics to force the option closed if it starts spiking.  Also make sure the "take profit" option isn't set, they sneakily put one on as a default.

[Christoph]

Mate I know **** all about this game 😂

 

I started on Monday after getting swept up by the hype on reddit. I use trade 212 and it's very easy to do. Making money on the shitter. 

 

There's all sorts of ways to invest. I am only going to go into meme stocks and Internet hype. High risk high reward. Of course you can be boring and sensible and do stuff like index funds and get an OK return over the course of the year. Not big money but it's safe to do. But nobody got a Lambo by being safe. 

 

 

Buying into gme right now is probably very risky but if it goes to 500 to a 1000 a share then it might be worth it. I'd only throw money in you don't mind losing. You are placing a bet nothing more.

Edited 26 January 2021 by Christoph

[sdb]

8 minutes ago, Carl the Llama said:

Christoph probably has better advice but if you wanna copy me get yourself on an app called eToro (you have to answer an investment question during the application process, the answer is the one about investing $200 at 5x leverage) and put it on GME with no leverage and no stop loss, do anything else and the broker will use shady tactics to force the option closed if it starts spiking.  Also make sure the "take profit" option isn't set, they sneakily put one on as a default.

Thank you!!

[Zear0]

Sudden my 1.46 or whatever it isn't looking quite as depressing as when it sunk to 0.7

[Carl the Llama]

If any of you are wondering about this, have a read of this subreddit.

 

Edit to remove hyperbole, don't want anyone getting too stupid ideas.  I think this is the best explanation of what's happening.

 

I've only put in spare cash so I only stand to gain a few hundred, but that also means I don't really stand to lose anything either.  I'm going to ride this all the way through Friday and see what happens, if it can cover a month's rent all the better.

Edited 26 January 2021 by Carl the Llama

[tom27111]

I'm kind of confused by this GME stock. 

 

I get the gist of what people are trying to do, but why are Friday and Monday such important days for it?

 

And is it worth me sticking the £100 that I have in pending orders on it? 

[martyn]

50 minutes ago, tom27111 said:

I'm kind of confused by this GME stock. 

 

I get the gist of what people are trying to do, but why are Friday and Monday such important days for it?

 

And is it worth me sticking the £100 that I have in pending orders on it? 

Friday is the day when anyone short selling the stock will need to be in a position to cover their shorts (i.e total value of their assets is greater than the amount it would cost to close their short position).

 

As it stands the price of GME is pretty much at a level where one of the shorters, a hedge fund called Melvin Capital would be forced to liquidate their entire portfolio of assets in order to cover their short position (i.e buying GME shares with that liquidated capital) bankrupting the hedge fund and pushing the price of GME up further.

 

Idea being that this then forces other short sellers to have to cover their positions etc etc.

 

I'll be watching with interest.

Edited 27 January 2021 by martyn

[Carl the Llama]

$AMC could be another target, eyes open...

[RobHawk]

9 hours ago, tom27111 said:

I'm kind of confused by this GME stock. 

 

I get the gist of what people are trying to do, but why are Friday and Monday such important days for it?

 

And is it worth me sticking the £100 that I have in pending orders on it? 

If there's a dip, it might be worth dipping in but the markets gonna open high imo. 

 

I missed the boat on this too but will keep.an eye on the price today. There could be alot of fomo pushing up the price though

[martyn]

The pre-market price is currently $330 

[Beechey]

So I thought I’d plunge £1.5k on GME at $111 and now unsure what to do. Advice? Sell as soon as the market opens? Too much anticipation and stress, this 

 

Sell enough to cover my initial investment then ride the crest of this thing to the moon? Someone give me some legit advice and I’ll buy you a beer next time we’re allowed at a City game with the tears of Melvin Capital.

Edited 27 January 2021 by Beechey

[RobHawk]

9 minutes ago, Beechey said:

So I thought I’d plunge £1.5k on GME at $111 and now unsure what to do. Advice? Sell as soon as the market opens? Too much anticipation and stress, this 

 

Sell enough to cover my initial investment then ride the crest of this thing to the moon? Someone give me some legit advice and I’ll buy you a beer next time we’re allowed at a City game with the tears of Melvin Capital.

Depends on your risk threshold, I personally would be looking to take a little out now to cover your position, and ride the wave with the excess. If it hits say £500, take another bit out for guaranteed profit etc. 

 

 

[RobHawk]

12 minutes ago, Beechey said:

So I thought I’d plunge £1.5k on GME at $111 and now unsure what to do. Advice? Sell as soon as the market opens? Too much anticipation and stress, this 

 

Sell enough to cover my initial investment then ride the crest of this thing to the moon? Someone give me some legit advice and I’ll buy you a beer next time we’re allowed at a City game with the tears of Melvin Capital.

That's what I would do but with set markers, as you never know when or where the crest is. 

[Zear0]

Just now, RobHawk said:

Depends on your risk threshold, I personally would be looking to take a little out now to cover your position, and ride the wave with the excess. If it hits say £500, take another bit out for guaranteed profit etc. 

 

 

This, entirely up to your appetite for risk.  I have nil appetite and put 5.5k in at 1.47 and will be pulling that out immediately if it's anywhere close to $300 at 2.30 when it opens.  But that amount I'd make would pay off my car!

[Trumpet]

Feel as though I’ve missed out on GME. I usually like to put in a bit of research beforehand and this ones moving way too quickly for me. Fair play to everyone making £ and riding the wave.

 

I’ve just lobbed the kitchen sink at EUA