• General

  • Being financially independent

Millsy They can temporarily suspend trade on the stock if they want - unlikely to happen but something to remember. I honestly think that will only galvanise people more though - soon as it re-opens, it’ll go gonzo again.

      Wally ah yeah, I had forgotten about that. Still….he who dares, Rodders

        Ok, now might be a good time to consider things carefully.

        The stock was suspended multiple times already. They have automatic circuit breaks in place. I think the SEC will definitely be looking at whether this constitutes securities fraud but they will perhaps conclude it’s all good since it was only sophisticated rich players that got burnt, and they know the risks etc. They’ll definitely be a bit worried though about the potential for havoc caused by redditors acting in concert to manipulate markets.

          Reddit / wallstreetbets are deleting posts with that video saying it’s bullshit.

          I would have thought broadcasting on national TV is bona fide’ stock market manipulation but who knows.

          I’ve just been fannying around and bought some shares - it’s still pending, should I cancel it?

            C_J well yes, agreed. It’s the mob mentality and social media allowing the ‘stick it to the man’ mentality to percolate. Not sure how they can stop it easily unless they put a blanket ban on retail, which would be very hard as most retail work through a trading intermediary. T212 uses Interactive Brokers for example.

              C_J Never take advice from someone who just guesses at what ETF might stand for!!!

              More of a KLF fan I must say.

                Along_the_Wire I would cancel…wait until opening, it will dip. Then strike. But….be very careful and this is NOT financial advice. You should never put a pending order in before market opens imo as it can swing either way.

                Disclaimer. NOT ADVICE! And please only use money you can afford to lose. I don’t want you losing your gallapagos diving hol fund lol.

                    Reddit, GME etc are a complete laughing stock amongst professional people investors fyi…. and yes I think it’s completely relaxed/bonkers too

                    Millsy Roger that. I’m just dabbling a little bit that I can well afford, I won’t be burning down your house whilst you sleep if I get fucked over.

                      Millsy what sort of dip are you expecting? Again, I won’t hold you responsible in any way.

                          I wouldn’t take musical advice from Millsy let alone financial.

                            Surely the company is now massively overvalued and this emotional investing bubble will crash fairly soon and not only will the short sellers have lost out but so will everyone else who jumped in. Those making a quick buck will be the only winners here.

                              Along_the_Wire it will open up then dip down. If you have a pending order it will state ‘best price’ which is code for ‘we will fuck you in the margin and buy at the highest price’. So best to wait until all the sells clear out off the opening peak (people will sell their overnight holds when they see the price jump up from the pre market action). Personally I’m not going near GME again and have moved to AMC

                                  Top tip: Lads, install ‘MarketWatch’ app and you can watch the pre and post market share price value.

                                  GME is going fucking wild. Up 350, Down 200, then back up 100. Goddamn rollercoaster

                                  RichM correct its not a value hold play. And yes there will be a load of people like us holding bags.

                                    Something will have to be done in the market to prevent these types of events occurring. I see activity in Pearson and Cineworld share price this morning, probably as a result of what’s happened in the US. The market needs protecting from these mini bubbles created by social media / Elon Musk tweets.

                                      RichM yes but what? Stop shorting or stop pump and dump? And if the latter, how?

                                          Never knew Millsy was into the stocks and shares.

                                          Now I can update my image of him to one sat demolishing a 6-pack of train beers, leaving his briefcase or manbag on the seat next to him (staring out anyone who even thinks about moving it to sit there), listening to Tom Petty on the headphones and furiously updating his Traderx247.com app on South Western trains shitty in-train wifi to see if his put on Boeing has gone through.

                                            bosstrabs nailed it davey. If I close my eyes I can sometimes go back there….

                                              Wally it’s market manipulation, but in this case it’s collective market manipulation. No one believes GameStop is now worth what it is, it’s value is being driven by the wrong reason. Fuck knows what could be done to prevent it, apart from having tighter price movement limits to halt trading and prevent these fluctuations.

                                                Work lanyard (squashed face picture) swinging furiously as he strides towards the buffet car for a ham sandwich and tube of Pringles.

                                                  Millsy it’s a tough one, each have their merits in a competitive market. Maybe the market will sort itself out. This activity could scare off short selling knowing they could be killed by what’s happening with GameStop.

                                                    bosstrabs lol! Trying every toilet door en route to find them locked and desperately trying to keep in the six pint cans of Stella from auto-pissing down his leg and ‘Fontaining’ his strides before Winchester.

                                                      Bloody hell <Bonanza theme tune>

                                                        I’m totally with Wally on this one. Why the hell should financial regulators take an interest in people openly colluding to manipulate the stock market? It’s like, leave us the fuck alone guys! Redditors FTW.

                                                        thank fuck they don’t have the powers to issue massive fines to brokers and suspend their licences. Or put people in jail. That would totally suck.

                                                        CJ, do you ever get on the old trading apps after demolishing a bag of the aul’ purple tin?

                                                        Is it still worth having a dabble on AMC? Trading212 is cracking.