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Just log in and create a regular brokerage account. You can then transfer in money and buy/sell/trade whatever you want. I was able to buy BB today. Don't think they blocked anything.
GME isn't on Cash App. A lot stocks aren't, actually. Don't know why, though.
I have an IRA already, can I quickly create a brokerage and add money to it?
Fidelity got about 9 trillion in assets it's managing. They don't give AF.
Why post a link to a paid service?what is happening right now is basically this
there was no pay wall for me. it explains on a historic example how a short squeeze works. its free if you register...
Maybe
I know some people were having trouble opening an account today but should be easier for you since youre already a customer
Sure. I'm all for what's happening but at the end of the day most people have no fucking clue what they are doing and the stock will return back to its previous price eventually unless people start treating GameStop like a currency store like BitCoin. There's no actual value to be had and I wouldn't be surprised if there are whales in there that are going to fuck up everyone's day just like crypto. This will end with a few people walking away winners, most losing and a few bankruptcies and possible suicides.
Oh it's the VW2008 squeeze
Hedge funds lose $30 billion on VW infinity squeeze - MOX Reports
Related article. How Martin Shkreli caused a 10,000% squeeze on KBIO Volkswagen Infinity Squeeze. The October 2008 short squeeze on shares of
moxreports.com
This creep above 300 after hours is nice to see
I have no idea what the endgame of this is going to look like - if people with options and shorts are FORCED to buy shares at any price and we go into an upwards death spiral, the bullshit we saw from brokers this morning is going to look small time in comparison
I have no idea what the endgame of this is going to look like - if people with options and shorts are FORCED to buy shares at any price and we go into an upwards death spiral, the bullshit we saw from brokers this morning is going to look small time in comparison
Yeah my account was easily setup but can't figure out the quickest way to add funds.
Yes, you need to open an individual brokerage account with them. That one won't be tied to the limits your retirement accounts have.
It was never on cash app. Cash app doesn't have access to as money stocks as other trading sites.
all this ruckus just got me to invest in dogecoin for shits and giggles because honestly it's return looks insane from 1-5 years so far and the newer news is probably only going to drive it up more. only put in a couple of dollars so there's no 'risk' but the payout has potential, anyone else do the same?
So...if this ended up bankrupting a hedge fund the broker has to cover the loss right? And if they can't cover what happens?
I am thinking of putting a small amount in DOGE, but at the end of the day there's no short situation where we could see a sudden surge. There's no bad guy to defeat. And as far as I can tell, the currency isn't really used very much. So it literally is just the meme-ing driving it. Plus this could well be its lifetime peak, is there ever going to be another DOGE moment? I reckon the pay off will be small.
This is not financial advice. :P
I've seen end of friday so should see covers friday after hours or monday if I understand right
This is the part that bums me out, despite the euphoria, energy, and passion driving it.
I didn't know much about the stock market but the idea of shorts is absolutely disgusting to me. Let's create money out of nothing and get rich on destroying companies.
Absolutely fucking disgusting.
Absolutely fucking disgusting.
By the way, the risky but correct play is to take out shorts of your own. If the goal is to make the hedge funds pay on their shorts then people will probably bail after. Please note that shorting a stock can fuck up your entire life.
you are quite right! this is all correct, except we don't know how the payout would be, and it is not really driven by anything other than memes, which while I look away in disgust at the memes of today compared to the ytmnd's and success kid's of my day, I know they are a strong driving factor for at least 42.0% of the population. plus I guess I just wanted to give it a shot since it was like 3 cents, haha! but yes I'm certainly very interested to see where the GME/etc situation winds up (tomorrow?). what a wild ride.
Yup. It can be morally good if the person shorting the stock if the investor legitimately believes that fraud is occurring in the company and that the financials don't reflect reality.
Otherwise, I'm with you. Absolutely no value added to the market and people are just making bank off of the financial misery of a company or the economy at large (2008). It's just a bet that "yeah, things are gonna go south and I'll turn myself into a god king for being correct". It's gross on principle.
Yeah I was thinking of sticking £30 into it...but that damn verification is taking an age!
The risk is so low too. It's pretty much "if I have money I can create money out of nothing just by watching a company collapse" it's awful and watching all these hedge fund managers squirm is excellent. I get that investing is important but this isn't investing, there is NO benefit to society
I'm thinking about putting 2000€ in GME (the maximum eToro allows me to put plus is a quantity that won't affect me much if all things go south for me). However I'm not really sure is what the endgame here. If I have understood all this correctly, we should hold till market closes tomorrow so that shorts are forced to buy our shares, right? But this doesn't make sense to me, whose shares are they going to buy? Everyone's? Probably I have it all wrong. Could someone please tell me what to do? I really want to do this after reading all about what Wall Street has done today to screw over the common man. This is class warfare now.
I don't get it completely, but the gist is that if you buy shares and refuse to sell some billionaries will get fucked
The upper and lower limit of all crypto currency is infinity, so you can always get into it if you want. It could end up 0.00000001c in 5 year or $1000000. Who knows anymore!
Well it looks like you can't even get it on Robinhood at the moment. Any other brokers you can buy it at?
Some countries have banned it in the past for this very reason.
I'm still amazed Gamestop hasn't announced equity issuance at market prices. HFs are probably begging them to do so and stop this agony.
This is a terribly myopic POV from someone who doesn't understand the economic role of capital markets. Short selling helps to idenntify fradualent behavior and provides liqudiity. Thus, it aids in price discovery and helps efficient capital allocation. Naked shorting is debatable though.
This is a terribly myopic POV from someone who doesn't understand the economic role of capital markets. Short selling helps to idenntify fradualent behavior and provides liqudiity. Thus, it aids in price discovery and helps efficient capital allocation. Naked shorting is debatable though.
Does shorting always have some time limit to when you have to buy the stock? When buying you can hold for a long as the company exists and hope it can recover. I always thought shorting they could sit back and wait until the stock drops down again, they just have to wait and ride this out. With the best will in the world I don't see a good end for gamestop but you never know.
It's good fun to turn the tables and shine a light on the corruption in stocks, for some they might see a way forward for gamestop somehow but you have to be in very early. Even a healthy gamestop diversifying somehow would be a 50-100 dollar stock.
It's good fun to turn the tables and shine a light on the corruption in stocks, for some they might see a way forward for gamestop somehow but you have to be in very early. Even a healthy gamestop diversifying somehow would be a 50-100 dollar stock.
If people don't sell, no matter how bad it looks (no stop-triggers that drop the price more rapidly) and the price stays up or goes up, short sellers have to (eventually) buy the shares and close their positions because of interest going up and some contracts expiring. Them buying the shares (to make good on their shorts) makes the price goes higher - the price shoots up, especially if people don't sell and hold until very high amounts. They need to buy a fuckton of shares. We need to sell them at a very high price.
They will try all the tricks to bring the price down. They may have price points in mind (or even handed to them by brokers) that they need to trigger so a significant number of people sell their shares. They want to do it as fast as possible but the bigger shorters can hold out longer, bringing the price down more gradually until the squeeze isn't as catastrophic.
With brokers preventing people from buying, them triggerring stop-loss low price limits in and bringing the price down, it looked bad for a moment but it shot back up fast enough, but not to where it was. Tomorrow isn't necessarily the end game.
If people don't sell.
But they will sell when they panic. Others will buy it back (if they can find a broker willing to let them!). It is a risk, they have a lot of reasons to use any method they can to stop these prices. The market may even be frozen tomorrow.
Also I have no idea what I'm talking about, but I'm going pretty heavy on GME, including getting more. I feel like it can't drop too low or it won't happen though.
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She's the best, also has 300,000 people watching her stream which seems crazy to me.
AOC is on.
The gamers have risen up and are ready to mobilize.
It's a weird dichotomy about Republicans kinda trying to dismiss the attack on the capitol on January 6th...and them being all up in arms that people are making money by doing to the stock market what hedge fund managers have been doing forever. Two different attempts at revolting but one of them was incredibly violent and the other endangered the money of rich people.
It's an easy punching bag/opportunity for them to say the right words (and an opportunity for people to ignore the fact that the deregulatory policies of the GOP directly led to the last two recessions and literally cut taxes for these chuckleheads that tried to short Gamestop, BlackBerry, etc.).
