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Bloomberg: Gamestop and AMC prices surge after Robinhood removes restrictions on both stocks
- Thread starter Saucycarpdog
- Start date
- News
Fair enough, I haven't been keeping up with movie release dates this year. The rationale applies to whenever big movies start releasing and whenever more people are vaccinated and going to movies again.
Im not an expert in how these brokerages work, but I don't fault people for being suspicious of what occured. Yes they had liquidity issues but why couldn't they have converted all transactions to 3 day settle like a cash account. Allowing sell orders still had the same issues with the clearing house yet they made the decision themselves to allow sells and not buys on the very day that the "pinch" was supposed to occur. It seems to me there were a ton of different options available but they just picked the one that benefited one group of investors more than others.
What Robinhood did totally killed the momentum of the these stocks last week. You can tell me it's collateral issues until you're blue in the face, that's fine, but let's acknowledge that their actions had a clearly manipulative effect on these stocks last week to the benefit of the hedge funds feeling the squeeze.
I'd urge everyone to transfer out their portfolio from Robinhood. Besides being clearly mismanaged and in over their heads, they just can't be trusted to not pull this kind of thing again.
I'd urge everyone to transfer out their portfolio from Robinhood. Besides being clearly mismanaged and in over their heads, they just can't be trusted to not pull this kind of thing again.
It was the collateral requirements that bit them and collateral can only be posted from RH"s money- they are legally not allowed to use client money for collateral.
Yeah my post was in error in regards to AMC. I do think they have a future. Buying GME at the moment however would be supremely stupid.
I got some AMC last week, and since I didn't make any quick bucks off of it, I'm just going to hold onto it for a while and see what happens.
Does it? Cinema was dying far before COVID. Not that there will never be any demand for movie theater/movie theater experience post-COVID, but many people/households were turning to streaming.
I suspect there will be a period of reinvigoration post-COVID as people make up for being cooped up in their homes by going out with others (we'll see a boom in airline industry, hotel, hospitality, restaurants, entertainment groups, theme parks, movie theaters, concerts, etc), but it's going to be temporary.
Not really.
Right. All of those orders at once was roughly equivalent to a bank run.
AMC was a decent investment/lotto ticket like 2 weeks ago when it was trading around $2. As expected, premiums have taken a dive. Too risky for me for theta gang tactics.
Step 1: google "AMC stock price"
Step 2: under market summary, set range to "max"
Step 3: observe graph
Step 4: google "AMC news 2019"
Step 5: form opinion on AMC's future
There might be going concern now thanks to the meme inflation but what's the rationale for it being anything but temporary?
I was suggesting that Beignet was on point about RH continually fucking up the past couple years.
I'm not sure what your condescending post here has to do with mine which you quoted?
The squeeze was the stock going from like $5 to $480 in a few weeks. The four figure stock prices were always lies or self-delusion - including myself on this to an extent although I lost very little money from my one share purchase. Back to boring but safe investments.