Reddit Trolls Screw Hedge Funds out of $13 Billion. Wall Street MALDING - Page 9 - Politics Forum.org | PoFo

Wandering the information superhighway, he came upon the last refuge of civilization, PoFo, the only forum on the internet ...

Talk about what you've seen in the news today.

Moderator: PoFo Today's News Mods

#15158282
Crantag wrote:I just got a robinhood alert, gamestop is up to $153 now (and climbing after hour). It's more than trippled today. My two cent investment is up to 4.5 cents.

Enjoy the ride, @Crantag....

Image
#15158296
Rugoz wrote:Gamers have been shitting on Gamestop for as long as I can remember. Since when did it become their "precious video game company"?

Either way, the reddit trolls are going to lose money, whine about the system being rigged against them and vote Trump.


People started to like Gamestop after everything went digital.

The people who bought their first video games at a gamestop in 1990s are now well into their 30s & 40s, and while people might have memories of getting ripped off by buying the Duke Nuke'Em game that never materialized at a Gamestop, now there's some desire to see if people can compete with Steam.

Just to indulge my own nostalgie for a moment, I remember going to FuncoLand when I was younger.
#15158298
Verv wrote:
People started to like Gamestop after everything went digital.

The people who bought their first video games at a gamestop in 1990s are now well into their 30s & 40s, and while people might have memories of getting ripped off by buying the Duke Nuke'Em game that never materialized at a Gamestop, now there's some desire to see if people can compete with Steam.

Just to indulge my own nostalgie for a moment, I remember going to FuncoLand when I was younger.


Maybe, but I ain't shopping at game stop.

DIGITAL ALL THE WAY!!
#15158302
And that is actually why people are excited about Gamestop -- Ryan Cohen is the new CEO, and he is famous for making a company that took on Amazon in e-commerce for pets and won big (Forbes).

The hope is that Cohen will be able to chip away at the Steam marketshare and make Gamestop into a viable platform for digital games.

At least, I think that's what people are thinking.
#15158307
Crantag wrote:I just got a robinhood alert, gamestop is up to $153 now (and climbing after hour). It's more than trippled today. My two cent investment is up to 4.5 cents.


It reached $180.

Told you guys the WallStreetBets dudes are in it for the long run. They're a mass crowd of autistic geniuses. Lol.
#15158348
Heisenberg wrote:I heard that Melvin Capital shorted it again last week :lol:


Yep.

And the Bagholders held the stock high enough so it could happen again. Of course they were hoping to do this quicker but they kinda had to wait till the trading restrictions were all gone.

Hopefully it rockets fully tonight and this isn't just a nice consolation prize hump.
#15158394
The stock dipped back to $105 after people probably sold it in after hours trading..... But its risen back to $145 in the first hour and threatening to gain momentum.

Red_Army wrote:My plan was to buy some when it went back to shit just in case these morons did it again, but I was too late!


Third time's a charm. You know they're already planning part 3.

The news has just started spreading again so the normies are about to get in again soon. Should at least get halfway.
#15158854
Good article.

https://www.forbes.com/sites/johntobey/2021/02/27/gamestop-stock-gme-price-rise-is-enticing-but-misleading--dont-get-trapped/?sh=530de9ed6337

A notable side node in the article.

A word of warning: The media and others are supporting the false notion that the Reddit "mob" is in control. Actually, at the heart of wild, dramatic stock moves are savvy (and ruthless) traders. Moreover, you won't see or hear comments from them unless it serves their interest. And that means those periodic revelations of so-and-so saying to watch out or jump in cannot be trusted. Nor can you trust a "friendly" Reddit suggestion. Just think back on those seemingly one-for-all and all-for-one cheers like "We're all in this to beat Wall Street, so hold and buy more!" Following that instruction is the perfect route for being the last one holding the bag.



I do wonder how much money people have lost on this.... I also wonder who are the lucky few that made a lot of money too.
#15158858
Rancid wrote:Good article.

https://www.forbes.com/sites/johntobey/2021/02/27/gamestop-stock-gme-price-rise-is-enticing-but-misleading--dont-get-trapped/?sh=530de9ed6337

A notable side node in the article.




I do wonder how much money people have lost on this.... I also wonder who are the lucky few that made a lot of money too.


"Get rich quick scheme! If it is too good to be true, it usually is."

The people who made a lot of money? You will find them in Wall Street. :lol:

Your article is all you need to know. I posted one on this subject a while back that explained what is going on. Putting your money in GME may as well be classed as gambling whilst the stock is being deliberately manipulated. I would like to think Colleric will lose a lot of cash, but I would say she is an internet spectator. That is telling everyone they should invest because she reads what is going on and associates with the movement but hasn't put a single penny in GME.
#15158863
Of course not. I'm in Australia... I've joined the ASX_Bets Reddit and watching which stocks they're gaming.

Made $1600 today in day trading. Selling the few reds tomorrow to cover the settlement. Or sell down one of the greens.

Spoiler: show
Also it's "he", l haven't had the heart to correct you for a year or so.
Last edited by colliric on 01 Mar 2021 06:54, edited 1 time in total.
#15158865
B0ycey wrote:"Get rich quick scheme! If it is too good to be true, it usually is."

The people who made a lot of money? You will find them in Wall Street. :lol:

Your article is all you need to know. I posted one on this subject a while back that explained what is going on. Putting your money in GME may as well be classed as gambling whilst the stock is being deliberately manipulated. I would like to think Colleric will lose a lot of cash, but I would say she is an internet spectator. That is telling everyone they should invest because she reads what is going on and associates with the movement but hasn't put a single penny in GME.

I put 2 pennies in it. It is now 3 pennies, but I could have sold it for 5 pennies the other day.

Colleric called it perfectly last time when they were about to rocket GME again.
#15158868
Crantag wrote:Colleric called it perfectly last time when they were about to rocket GME again.


Pennies from an American? That's a British term. I thought you guys say cents.

Besides, it isn't really difficult to "call it" given it is volatile and being deliberately manipulated. If we can have some dates and time for when the stock goes up (and then come down again), then I will be impressed.
#15158901
B0ycey wrote:Pennies from an American? That's a British term. I thought you guys say cents.

Besides, it isn't really difficult to "call it" given it is volatile and being deliberately manipulated. If we can have some dates and time for when the stock goes up (and then come down again), then I will be impressed.

A 1 cent coin is a penny in the US. I thought Brits said pence.

@colliric said "it looks like they're about to rocket it again" when it was around $46 dollars or so. A day or two later, it rocketed up to $180. One could have actually bought the stock when Ric made the comment and more than tripled their money in the same space of time. It seemed like a pretty good call to me.
#15158902
B0ycey wrote:Pennies from an American? That's a British term. I thought you guys say cents.

Crantag wrote:A 1 cent coin is a penny in the US. I thought Brits said pence.


Most Americans refer to a single cent as a penny @B0ycey, we don't say "1 cent please" generally, we do say "1 penny please" . Further, most Americans do not realize that that word Penny is derived from a single British pence @Crantag , which they call a penny. I don't believe they say "1 pence please", they are more likely to say "1 penny please" :)

Also in my travels to the UK, I think they also just say the letter 'p' for a pence. Like "that will cost 2 pounds 50 'p' please"

That's your cultural enrichment lesson for the day guys. :)
#15158903
Crantag wrote:A 1 cent coin is a penny in the US. I thought Brits said pence.


A penny is a penny in the UK. Pence is something you would say after a demonination. That is to say one penny is called one penny but you might have 1 pence change given to you. Nonetheless you learn something every day. You call your one cents a penny. Next you'll tell me you put petrol in your gas tank.

@colliric said "it looks like they're about It seemed like a pretty good call to me.


Perhaps I might say GME will go up in two days time. If it does it is a good call right? But more than not it is would just coincidence especially as the only data I have is chatter. But what if GME goes down? Would we call that a bad call? Or speculation on my part. GME stock is a gamble right now. If you can afford to lose it, bet and if not, stay out of it. How about that for a call?
  • 1
  • 6
  • 7
  • 8
  • 9
  • 10

Darwin didn't write anything about vaccines or re[…]

@wat0n 1. I have given examples of financial […]

...China is building a parallel global order, and[…]

I was drunk when I wrote that. But even now tha[…]