OT: Investing/Stocks/Bonds/Mutual Funds/Crypto

[ABucksFan]

Today is going to be wild. Unless the brokers are **** again.

[chonestown]

I will say that I like the idea of just investing in companies that I believe in and avoiding companies that I don't.

This is what investing should be. The rest of it is Vegas stuff to me. Dedicating money to something you hope will fail is offensive to my soul.

[jmart762]

As someone who has been on the crypto train for the past year after the brrrr memes, there couldn't be a better set up for a cultural primer to ethereum and the principles of its DeFi ecosystem. Feeling pretty comfy right now, just have to wait for things to happen.

Hopefully my broker can get me one GME this morning at market close for solidarity and the novelty at all. I told him to not sell, I don't care if it goes to zero, I'm buying a ticket for this ride, let's ride it out.

[sidney lanier]

This is hilarious. They were trying to sound legitimate with gme saying it wasn't market manipulation. Well throw that argument out of the window by pumping a useless crypto meme that was popular years ago. They got caught and then they move to something unregulated and start a pump and dump/ pyramid scheme. Reading the logic about holding doge and making it legitimate so everyone is rich is hilarious. I'm not sure if these people are truly that naive or if they are trying to trick others. I'm guessing there is both going on. It's similar to the justicification to not sell gme to screw shorts. I have no teeth in the game but if I did, I'm not gonna lose 4,5,6 figures to make a point. I was pissed for them today and now I don't know what I think. Investing in Dogecoin isn't going to screw any big money or villain. Its eventually gonna screw random people that invested. How can you legitimize a joke digital coin? Everyone is looking for a get rich quick scheme now and younger people are going into veiled pyramid schemes. People were trying to find the next GME in the stock market and picking stocks that had vastly different situations. This is all pretty crazy. I'll sit on the sidelines.

With this kind of tasty cheese all over the kitchen floor, I guess we shouldn't be surprised that the rats are crawling out of the woodwork. Pump-and-dump works because we're all suckers for the prospect of easy money. Like stats in sports, previous moves seem to portend future results. It's such a simple ruse, but the fact that it works so well should say something about the difference between how smart we think we are and how smart we really are.

Clever of the p-and-d-ers to pick Dogecoin, as it's consonant with the tongue-in-cheek narrative. As the market opens today, imagine all the people thinking about buying low and seeding a buying frenzy with another radical-chic stock.

[HaroldinGMinor]

If these are all P&D schemes who is coordinating them? It's simply herd/Fear of Missing Out mentality and it "works" because everyone can make unlimited free trades from anywhere in the world. GME went from roughly $20 a share to over $400 in two weeks. Wouldn't the dump have happened by now? You could argue it did because the stock dropped back down to like $130. But now it's back up over $300 again.

[ABucksFan]

If these are all P&D schemes who is coordinating them? It's simply herd/Fear of Missing Out mentality and it "works" because everyone can make unlimited free trades from anywhere in the world. GME went from roughly $20 a share to over $400 in two weeks. Wouldn't the dump have happened by now? You could argue it did because the stock dropped back down to like $130. But now it's back up over $300 again.

I am not an expert...so what does this mean? The dump hasn't happened then?

[sidney lanier]

If these are all P&D schemes who is coordinating them? It's simply herd/Fear of Missing Out mentality and it "works" because everyone can make unlimited free trades from anywhere in the world. GME went from roughly $20 a share to over $400 in two weeks. Wouldn't the dump have happened by now? You could argue it did because the stock dropped back down to like $130. But now it's back up over $300 again.

Does the populism angle hold up?
Though many traders and commentators — including The Times’s Kevin Roose — see the GameStop mania in part as an internet-enabled pushback against Wall Street elites, financial bigwigs like the investment firm Silver Lake were among the big winners.“Are you entirely sure there aren’t wealthy people on both sides?” Senator Elizabeth Warren asked yesterday.

Why Robinhood Had to Risk Infuriating Its Customers

A pump-and-dump scheme need not be entirely coordinated, monolithic, and conspiratorial, although of course some are. Remember when you enter this casino you're playing against people who do this for a living and are alert to seizing opportunities when they come along. I think this is a case in which many light bulbs went off at the same time.

[M-C-G]

If these are all P&D schemes who is coordinating them? It's simply herd/Fear of Missing Out mentality and it "works" because everyone can make unlimited free trades from anywhere in the world. GME went from roughly $20 a share to over $400 in two weeks. Wouldn't the dump have happened by now? You could argue it did because the stock dropped back down to like $130. But now it's back up over $300 again.

I am not an expert...so what does this mean? The dump hasn't happened then?

Dump has not happened. There was what appeared to be fairly low volume selling between hedge funds (or at least the theory from yesterday) at losses back and forth to try and drive down the price in order to get the holders scared and dump. It didn't work, they ended up holding.

No idea who this Justin Sun guy is, but he claims he is buying 10M of GME tonight when the asia markets open. Could be something, probably nothing, but I think the more this story gets talked about the more people you are getting in the mix. Even if it is only one or two shares. People just want to be a part of it.

Read on Twitter

[ABucksFan]

If these are all P&D schemes who is coordinating them? It's simply herd/Fear of Missing Out mentality and it "works" because everyone can make unlimited free trades from anywhere in the world. GME went from roughly $20 a share to over $400 in two weeks. Wouldn't the dump have happened by now? You could argue it did because the stock dropped back down to like $130. But now it's back up over $300 again.

I am not an expert...so what does this mean? The dump hasn't happened then?

Dump has not happened. There was what appeared to be fairly low volume selling between hedge funds (or at least the theory from yesterday) at losses back and forth to try and drive down the price in order to get the holders scared and dump. It didn't work, they ended up holding.

No idea who this Justin Sun guy is, but he claims he is buying 10M of GME tonight when the asia markets open. Could be something, probably nothing, but I think the more this story gets talked about the more people you are getting in the mix. Even if it is only one or two shares. People just want to be a part of it.

Read on Twitter

Cool. Even though Media is making it out to be Hedge/Rich vs Avg Joe/Redditors I find it hard to believe there aren't people with deep pockets on the side of Avg Joe. Rich will always see an opportunity to pounce.

[HaroldinGMinor]

If these are all P&D schemes who is coordinating them? It's simply herd/Fear of Missing Out mentality and it "works" because everyone can make unlimited free trades from anywhere in the world. GME went from roughly $20 a share to over $400 in two weeks. Wouldn't the dump have happened by now? You could argue it did because the stock dropped back down to like $130. But now it's back up over $300 again.

Does the populism angle hold up?
Though many traders and commentators — including The Times’s Kevin Roose — see the GameStop mania in part as an internet-enabled pushback against Wall Street elites, financial bigwigs like the investment firm Silver Lake were among the big winners.“Are you entirely sure there aren’t wealthy people on both sides?” Senator Elizabeth Warren asked yesterday.

Why Robinhood Had to Risk Infuriating Its Customers

A pump-and-dump scheme need not be entirely coordinated, monolithic, and conspiratorial, although of course some are. Remember when you enter this casino you're playing against people who do this for a living and are alert to seizing opportunities when they come along. I think this is a case in which many light bulbs went off at the same time.

I think that the very definition of "scheme" involves coordination and/or planning. Did people jump on to take advantage? Sure. Will the stock inevitably tank? Of course.

And in regards to Silver Lake...
A private-equity firm that owns a chunk of AMC Entertainment Holdings Inc.’s bonds is converting them into equity following a remarkable rally in the cinema giant’s stock, as AMC struggles to ward off bankruptcy amid closures of movie theaters during the pandemic.

AMC’s share price quadrupled this week after the company inked a substantial debt and equity raise and subsequently became the latest stock to be touted by the online community of retail investors who helped pump up GameStop Inc.

AMC said Thursday that Silver Lake Group LLC on Thursday has elected to convert the $600 million of convertible notes it owns into equity.

The Silver Lake swap illustrates how AMC and other volatile companies caught up in the retail trading mania can benefit from surges of bullish sentiment, in this case enabling AMC to cut a roughly a tenth of its roughly $6 billion in debt.

After closing at $19.90 a share on Wednesday, having more than quadrupled in value from the start of the week, AMC’s stock retraced much of its gains, closing at $8.63 on Thursday, down about 56.6%

[MickeyDavis]

Good interview this morning with Keith Gill in the WSJ

[sidney lanier]

I think that the very definition of "scheme" involves coordination and/or planning. Did people jump on to take advantage? Sure. Will the stock inevitably tank? Of course.

You're right; scheme probably makes things sounds too nefarious. This is not like a classic pump-and-dump; my favorite was a penny stock for a company that had allegedly developed a system for finding land mines left over from old conflicts, and they're usually of that ilk -- somebody saying they have something that's really nothing, convincing hopeful investors to get in, and reaping their profits from buying at the bottom of the pyramid.

But what makes pump-and-dumpers sit up and high five each other about the current situation is that the marks know the underlying security isn't worth poop but are in anyway to make a point. This masochism sauce makes this situation completely new. Sure, I know I'll get stuck holding the bag, but I like it!

[tydett]

I think that the very definition of "scheme" involves coordination and/or planning. Did people jump on to take advantage? Sure. Will the stock inevitably tank? Of course.

You're right; scheme probably makes things sounds too nefarious. This is not like a classic pump-and-dump; my favorite was a penny stock for a company that had allegedly developed a system for finding land mines left over from old conflicts, and they're usually of that ilk -- somebody saying they have something that's really nothing, convincing hopeful investors to get in, and reaping their profits from buying at the bottom of the pyramid.

But what makes pump-and-dumpers sit up and high five each other about the current situation is that the marks know the underlying security isn't worth poop but are in anyway to make a point. This masochism sauce makes this situation completely new. Sure, I know I'll get stuck holding the bag, but I like it!

The previous government regime was mostly elected because it would serve as a "**** you" to the establishment. It's not hard for me to see the parallels with this Gamestop situation. People will gladly cut off their nose to spite their face, if only based on their perception of sending a message to the established power brokers of the market.

[Matches Malone]

Did any of you join the Big Pump Signal discord? They keep you updated on stocks they want to pump. I feel like somehow they're going to get in trouble. Like the hedge fund dudes find some way to **** them. These are wild times.

[M-C-G]

I think that the very definition of "scheme" involves coordination and/or planning. Did people jump on to take advantage? Sure. Will the stock inevitably tank? Of course.

You're right; scheme probably makes things sounds too nefarious. This is not like a classic pump-and-dump; my favorite was a penny stock for a company that had allegedly developed a system for finding land mines left over from old conflicts, and they're usually of that ilk -- somebody saying they have something that's really nothing, convincing hopeful investors to get in, and reaping their profits from buying at the bottom of the pyramid.

But what makes pump-and-dumpers sit up and high five each other about the current situation is that the marks know the underlying security isn't worth poop but are in anyway to make a point. This masochism sauce makes this situation completely new. Sure, I know I'll get stuck holding the bag, but I like it!

The previous government regime was mostly elected because it would serve as a "**** you" to the establishment. It's not hard for me to see the parallels with this Gamestop situation. People will gladly cut off their nose to spite their face, if only based on their perception of sending a message to the established power brokers of the market.

We are literally at a point where the most people ever in this country realize the establishment has been leaching off them, not feeding them.

[SupremeHustle]

Which crypto under one dollar should I buy a bunch of on Coinbase?

[M-C-G]

Which crypto under one dollar should I buy a bunch of on Coinbase?

M-Coins-G are about to explode. DM me for my paypal and get in early!!!

[SupremeHustle]

Which crypto under one dollar should I buy a bunch of on Coinbase?

M-Coins-G are about to explode. DM me for my paypal and get in early!!!

All I have is 3 million dollars. Is that enough?

[M-C-G]

Which crypto under one dollar should I buy a bunch of on Coinbase?

M-Coins-G are about to explode. DM me for my paypal and get in early!!!

All I have is 3 million dollars. Is that enough?

Let's call it a down payment. Go remake the Godfather, but make it good this time and I'll hold your position.

[HaroldinGMinor]

If what's going on with the Reddit group is Pump & Dump then so is publicly announcing a short sale position:

Left, the author of dozens of investigative reports on S&P 500 over the past decade, is credited as helping pioneer the tactic of betting against a stock by publishing research that encouraged others to follow his lead and profiting when they do.

https://finance.yahoo.com/news/citron-stop-publishing-short-selling-160123895.html