Could very well be and for anyone with similar reservations they should probably stay away. All you said has always been true about the stock market in general.
I know it’s anecdotal but I used to buy and mine crypto currency (mainly Etherium). I sold all of my mining equipment and crypto for a small profit when I had some financial struggles a couple of years ago. At the time Etherium was around $130…today it’s almost $1,400.
See this is why I just done a bunch of coke and played hands of blackjack. Less regrets, no bullshit.
I didn’t mine cryptocurrency. I didn’t do drugs. I didn’t gamble. I’m a boring cunt 
Haha
From what I read, the vast majority of the stock purchases in GME were small amounts, and not trust fund kiddies betting 50k (although I’m sure some people have made crap loads off of this).
Personally I think they should ban all speculative betting, but as long as they don’t then everyone should be able to play.
You’ve got my entire point back to front.
Warning - sorry for the very long post. It’s quite rambly and long, probably due to me being drunk.
Absolutely agreed. You’ve nailed the zeitgesit of the forum. There’s an element of “Chaotic Neutral” to it that isn’t related to the weird alt-right element of Reddit and the online world. I know that a lot of media outlets have been making comments about the how the alt-right is involved in WallStreetBets, but that’s just not the case at all. That’s just really low hanging fruit when it comes to online social media platforms and not what WSB is about at all. I’ve been following WSB for about 5-6 years, and for all of that time except for the last month or so it’s been about smart and not so smart people going balls to the wall on crazy one-off victory-or-death trades. It was about 19 year old college students betting their $5,000 student loans and making $750k on crazy call options and then doubling down and losing it all (check out a guy called /u/analhater2 on /r/wallstreetbets lol).
The spirit of WSB has definitely been co-opted by a “movement” now due to all the craziness around GME and how it has just grown massively out of proportion. I don’t think DeepFuckingValue knew that he would create a movement with the ramifications he has. It took /r/wallstreetbets 9 years to get to 2m users and then it took them 2 weeks to get to 7m users, and it’s all down to the hype he helped create. But as you say, this hype stems from a technologically savvy population of gen z, millenials and gen x’s that grew up during the 08 financial crisis and saw the damage that was done by this financial and cultural elite and who were still able to get away scott free. No-one went to prison for the hundreds of billions of dollars of destroyed value back then, but all these young people suffered through it and experienced the repercussions.
Surprisingly, these people didn’t forget. However, these people in many cases weren’t educated about stocks and shares.
In other political threads on this forum, you guys may have seen it come up that I am very passionate about income inequality and the general failings of education in the standard curriculum. I appreciate Shakespeare and R.E. as much as the next guy but I believe we are failing entire generations of children by not teaching them about compound interest, stocks and shares, ISAs, profit and loss, exponential growth, options and derivatives etc. These aren’t things that are any harder to understand than Trigonometry or what Horatio really means in his speech to Hamlet. They just need to be fucking taught to people.
I’m actually super stoked about this financial event. It’s a total shit show, but I’ve never seen so many people getting involved in the stock market and that’s a good thing. For the longest time, I was the only guy in my friendship group who invested in the stock market, and there’s some really smart guys in my circle. Consultants, lawyers, HR directors, diplomats etc. and whenever I would try and talk stocks with them I was always met with stony silence. It was like they just wouldn’t dare even consider investing, and it was so disheartening.
Cue this reddit trading shit show, and now I’ve never had as many people reach out to me to talk about stocks and the market as I have in the last week. Even this thread! There’s never been as much interest and willingness to all of a sudden invest and that IS A GOOD THING. Yes, it will lead to some people being quite gung ho and making the wrong emotional decisions but overall I think the debacle has created a level of awareness and discussion that will only be to the benefit of our generation.
You’re absolutely right, the bag holders will definitely be the little guys who didn’t know better and thought that buying in at $450 was a good idea because it might hit $1,000. It’s a real shame and I do empathise with those people, but in the long term I do believe that their losses are acceptable collateral.
A guy posted on Reddit, about how he was absolutely devastated because he invested £800 in GME shares in a margin account (basically he borrowed to buy twice as many shares as he had money for). When the shares dropped more than 50% at the level he bought in at, his broker closed his position and sold his shares. He lost all £800. He was devastated because he didn’t realise what he had signed up to when he agreed to trading on margin, he was just so desperate to get in on the action.
This is extremely sad, and I really empathise with this guy because he just didn’t know any better because he wasn’t taught. Yeah he fucked up by getting involved in shit he didn’t understand, but IMO the system failed him by not teaching him about the financial markets.
In any case, I actually see this example as a potential positive. This guy, at the cost of £800, now understands what Margin is, what going short and going long means, etc. It was an expensive lesson, but all a sudden he’s now involved in the markets and while he might initially be scared off at least he has a greater understanding. And I can guarantee you this is a more effective lesson than any qualification or university degree would have provided.
As I was saying before, I have people coming to me now who have never invested before in their lives, researching and developing a deeper understanding of the markets and actually going for it.
That’s what WallStreetBets has done. Sure they were trying to fuck over the Big Guys, but what better way than to do so than by empowering the little guy to take control of his financial future?
/r/wallstreetbets has actually always been a really inclusive and interactive forum, it was just always in quite an abrasive and brusque way. There’s a certain jargon and language used on the forum that can be seen and experienced as quite off-putting, which it was meant to be, but if you were serious and engaging people would always offer up advice and help. They would just call you a mouth-breathing retard at the same time.
I mean personally, I thought that GME hitting $100 a share was absolutely crazy and I could never have imagined it hitting any higher than that. What the fuck do I know? It opened at $480 on Thursday and then dumped down to $260. And that’s the whole point of the stock market - no matter how much you think you know, the market will act unpredictably because it reacts to human sentiment and psychology.
Now, I do absolutely believe the stock has peaked. It will not hit $1,000 like some people were predicting and there are definitely a lot of chancers and small investors who are going to lose money because they wanted to get in on the wave but got in to late. Sucks to be them, but they were too reactionary in their investment strategy.
At this point now, a lot of it is hype but I also think a lot of it is a generation of young people with easy access to the stock market thanks to tech, expressing their displeasure at the current state of things and I do believe that a lot of people are actually willing to lose their holdings to prove a point if it costs these Hedge Fund Billionaires their money. It’s basically become a Mexican stand-off with a bunch of suicidal millennials with nothing to lose vs. hedge funds with everything to lose.
Most of the people investing aren’t buying thousands of shares, they’re buying individual or dozens of shares, so they can afford to drive these into the ground.
Yeah there’s some people who have gotten swept up into the “movement” and have invested pensions and life-savings into GME (and for some who cash out it has paid off), but far and away most investors are sub-100 shares and can afford to lose the money which makes them so dangerous to Wall Street and the Hedge Funds.
WallStreet has basically underestimated how stubborn and retarded this generation of Internet-bred millenials and Gen Z’s can be. They haven’t realised that the attack on Wall Street isn’t for the gains, it’s for the lulz.
And it’s also a unifying moment. Both liberals and conservatives seem to think it’s hilarious that greedy hedge funds are getting fucked over.
I think that was entirely down to Robinhood’s decision to stop selling stock in GME. It was in the hours after that decision that the stock lost almost 50% of its value. Oddly enough, there wasn’t a similar trend when IG also pulled the plug on selling GME, AMC, Bluetooth etc.
I have become comfortable numb
That’s very true, I do think you’re right about the trading applications banning buying has absolute stifled volatility and limited the rise in share price.
It just seems so outlandish that it could hit $1,000 a share, but honestly if they hadn’t banned trading it it probably could have. Pretty sure it hit $500 at one pre-trading on the Thursday.
And yes, very much a unifying moment. Leftists and Right have been brought together for the first time in the US in a very long time which is extremely satisfying to see.
@Cristo what do you think the potential is for this becoming a trend with other heavily leveraged (whatever that means) stocks?
@cristo I’ve seen you mention Nokia a few times, what’s the deal? Worth a long term punt? I’m more of a longterm holder than a short term quick gains kind of guy. My investments are aimed more at
early retirement 
GME was a very special case, it was a well analysed and carefully singled out stock as one user laid out the framework for why GME was going to pop upwards. It was 85-99% shorted and only had 50000 shares available to buy. That’s why the shorters Got absolutely rekt. It had (still has) all the pumpementals for what it did. Even without the mass Reddit investors, it would have gone up and cause a short squeeze as one or two millionaires took impressive positions that would trigger the short squeeze and they would back up the increase in valuation by labeling GameStop as the future of online retail in games and tech.
Then Reddit joined in for the ride and the rest is history.
That’s why AMC, Nok and BB are showing less volume.
I am in AMC, because it recently got Hollywood (financial) backing. I am about +60% on it now. At its peak it was 200% or so if I recall correctly
Interesting question. Potentially, I doubt we’ll ever see such a big organised effort by small retail investors but I think so many hedge funds getting burnt will definitely have them acting with more caution in the future. Might only be a short term effect though.
I’ve been invested in a Swedish share called Fingerprint AB for 6 years, and about 5 years ago American hedge funds got into it at a very high valuation and pushed the share down from like 150SEK to 15SEK. It’s been the most shorted stock in Sweden/Scandinavia since then and the HF have suppressed the share price with an iron fist despite great partnerships, contracts, proprietary technology and annual reports etc.
However, for the first time in 5 years on Thursday those American hedge funds closed out their short positions in Fingerprint and it hit a 5 year high share price. I’m on some forums and a lot of the Fingerprint shareholders were convinced that it wasn’t a coincidence that the first time in 5 years the HFs closed their short positions was the same day GME was going a potential short squeeze. I think it’s very likely the American HFs wanted to pull out nice and quietly and keep a low profile to avoid another potential GME shit show when other investors start trying to find very highly levered short positions. So yeah maybe some hedge funds are running scared and being a little bit more careful.
I doubt we’ll see anything as nuts as this GME play any time soon though, think this was a bit of a one off spectacle in how WSB came together.
I think Nokia could be a decent play in the long term - like I said before, with Huawei not in Europe and America’s good graces anymore it’s really only Ericsson and Nokia with the same technological capabilities around when it comes to 5G. Huawei got massive state subsidies from China (how surprising), so they were able to undermine and undercut Ericsson and Nokia so they should benefit significantly from this.
However, with 5G etc. progressing quite quickly I’ve been very surprised that Nokia’s share price hasn’t moved at all despite news that they’re picking up big contracts in Belgium etc.
I bought £500 worth just in case it blows up next week when people take GME profit and yolo it in other shares, and if that doesn’t happen I’ll keep them for a few months and see what happens!
But as far as Nokia, AMC etc. fuck it, why not give them a punt for a fun short-term gamble - just don’t do more than you can afford to lose. What I will say is Nokia is more likely to keep it’s value in the long run than some of the other memestocks if things don’t go to the moon.
Thanks mate, may take a punt and shuffle around some of my other stuff that seems to have stagnated a bit 
Citadel and the media being sneaky cunts about this silver thing, trying to make it the next big thing
God, let’s bring these fuckers down
What silver thing?
Nokia is an acquisition stock. Someone will either buy it or it’ll be left to die.
