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.
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.
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?
Along_the_Wire what shares mate? US opens at 230pm
Millsy GME mate
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.
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.
Reddit, GME etc are a complete laughing stock amongst professional people investors fyi…. and yes I think it’s completely relaxed/bonkers too
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
I wouldn’t take musical advice from Millsy let alone financial.
Smallman1 good 👍 I’m an absolute chancer
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.
RichM correct its not a value hold play. And yes there will be a load of people like us holding bags.
Millsy Cool. What’s the story with 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
Along_the_Wire Same as gamestop. Reddit are going to buy the fuck out of it to fuck short sellers.
Wally Which AMC is it?
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 Why?
RichM yes but what? Stop shorting or stop pump and dump? And if the latter, how?
