Quite low volatility in the markets today. Can’t quite tell what’s happening. Lowest vol has been so far and I can’t quite figure out whether it’s all just the quiet before the storm and shit will absolutely hit the fan at 8pm our time when a buy frenzy will occur to initiate the short squeeze as the shorts will officially expire at 4pm US time (9pm here).
Does seem like Reddit is holding for the most part.
Could also be that nothing really happens for the rest of the day and then it all kicks off Monday at the start of trading. 113% of the shares are still shorted so it doesn’t seem like the hedge funds have closed out their positions and if redditors are refusing to sell there won’t be any shares for the hedge funds to buy to close their positions.
If redditors start selling too early before the shorts expire, that’s the bad case scenario.
I read that the news about shorts expiring today was fake news pushed by hedgers trying to fool retail stock holders into selling
I think realistically the craziness will happen mid to end of next week. Hedgers will probably do a bunch of after hours dumps to make the stock look like it’s going down.
I love that show. A liberal and a conservative, who despite disagreeing on issues, can still have a healthy conversation without shouting at each other.
I’ve heard great things about them but unfortunately they don’t offer Stocks and Shares ISAs which is a very generous and tax free product here in the uk.
Incredibly low fees though apparently.
ISAs really are amazing. £20k a year allowance and totally tax free on all gains. Nuts.
This is free market at work here and any investor or hedge fund manager trying to label it otherwise will have to retire because they did exactly the same as all these guys.
There’s definitely shades of old school 4chan to this venture, infact I’d say wallstreetbets is the closest thing you’ll get to a 4chan Reddit inbred, deformed baby you’ll find on the internet these days.
While I’m in awe of the movement I can’t help but feel that a lot of people are going to end up absolutely fucked by the end of this. Like I’m seeing people on Reddit and a few friends in real life buying into this hard. I know very little about the market, I dabbled briefly about ten years ago and came out a little ahead but not enough to merit further investment. But surely the old adage of buy low never dies. I can’t wrap my head around people looking to buy fucking gamestop shares at 320. Surely all these people are doing are protecting the interests of those who got in early.
Maybe our resident wolfs of OA like Cristo and Clifton could fill me in but does this stock really climb much higher this week. I’ve seen so many posts on Reddit about people putting their retirement/savings into it at 320. The risk reward ratio is beyond gone, it just seems like people are getting swept up into a once in a life time play after the fact.
I hear you but you have to remember this didn’t start out as a get rich quick scheme. Anyone hopping in with that mentality will likely be underwhelmed at best. This was started by a bunch of frustrated, cynical millennials bitter about how WallStreet had essentially put a lid on their economic future in 07/08 and again in 20/21 during the pandemic they make out like bandits while people are dying left and right.
I wouldn’t call it a once in a lifetime event either. There are plenty of hedge funds heavily leveraged, trying to gut plenty of struggling businesses.
Yeh see call me a cynic, because I am a cynical boarderline nihilistic motherfucker but I don’t buy that either.
This is meant to be some movement for our lost generation who can’t afford to live, which I get. Across the states and the UK the cost of living compared to average wage is practically a paradox, the white picket fence American dream has never been more a myth than now.
Some guy sitting on 50k liquid savings doesn’t represent your poor huddled masses to me. It’s represents privilege using the struggles of the working man to further their own wealth. I can’t be the only one who finds it ironic.
I’m just saying that the whole thing is dangerous. It’s just another cycle pretending to be something different.
Devil’s advocate here. I think there is some requirement where they need to hold certain amount of money to continue allowing this surge in purchase of a single stock.
Maybe they are just trying to manage their resources.
the balls on this one!