It is the end.
I hope some of you listened to me along the way and didn't ride this down with real money.
I hope some of you listened to me along the way and didn't ride this down with real money.
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VW only rose to like 12x its minimum. GME rose to 100x. The squeeze was way more extreme for GME.
You could tell this was going to be a in a downfall the moment it spiked for no discernable reason other than speculation and diamond hand/to the moon memes.
Hopefully people here got out last week and weren't buying on Thursday and Friday.
yeah. I'm talking about people who thought it would peak higher this week. Don't get greedy in the market. Always take some profits.
VW $200 to $1,000 is similar to GME $20 to $100. GME's spike was far far higher than VW's.
Small "investors" always end up screwed. A lot of people invested in this clusterfuck due to social media hype.
It wasn't even that risky of a bet getting in that low. It was a sound analysis where he kind of sat back and said "GameStop's long term future is bad, but not THAT bad. People are misreading a few key trends." Chumps pushing it to 100x were lucky for him, but the core was sound.
If you really want to mess with this stuff without using your own money then do paper trading. You basically get fake money to use.
He still carries a securities registration and was giving investment advice with a "this isn't investment advice" disclaimer isn't going to absolve him of clearly giving advice. He is a CFA and a registered broker and he absolutely 100% should have known better. Financial Analysts are a well-regulated market segment otherwise any jackass could buy a stock and then put out tons of very convincing "buy" advice. I'm sure they are also going to want to look at his electronic communication around the time he was giving this advice. If he was publicly saying one thing and privately saying another it could be no bueno.
He isn't like "going to jail forever" in trouble but he is "barred from the industry and may need to disgorge profits" in trouble.
I very much doubt he is holding the rest. I assume once he went dark he liquidated as soon as possible. He knows it is only going down and his long term value play had it nowhere near this high. If he still wants the long term play anyways he can sell now and buy back in after it finishes crashing.
If you're actually looking to invest for the long term then you could put that money into VGRO or XGRO.
I knew he was a CFA, but I had no idea he was actually an RIA. I just checked and yep he was.
He's kinda screwed.
I don't know anything about the US regulations. But there were paper copies of a SEC (I think) inquiry to DFV's previous employer floating around on WSB last night. He supposedly resigned on the 21st and they were asking why the employer hadn't filed the necessary paperwork for his termination and reported on his secondary business activities (youtube etc.), among other queries.
anyone who still thinks dfv was on the up and up throughout this whole thing is fucking lying to themselves
Yeah, his previous employer needed to be reviewing and approving all of his trade activity and reviewing his outside business activities.
They are in a lot of trouble.
I cannot imagine a world in which I ever would have let one of our reps trade in stock while giving investment advice on youtube about that same stock.
Worse than that when I was a rep there was a loooooooooong list of stocks we were barred from trading in our personal accounts and day trading was completely banned. We don't know what his activity looked like of course, but the regulators will. He better not have been trading against his public advice this week.
Hasn't he done enough damage already with his stock manipulation? He was pumping this at over $150 last week and it's now $64.
people hate wallstreet but love the richest man in the world somehow
Musk is already in SEC timeout for that 420 take his company private joke on Twitter.
Because he doesn't fit the general narrative character of wall street.
He probably does moreso than you think. A lot of the young traders on wall street are probably a lot like him actually.
Remember, when looking at the line chart, zoom out(switch to 1week or 1 month or 3 month view instead of day view). The stock made an M shape last month and now this month it's actually behaving like a regular stock line would, which means now it's slowly trickling downward. That should be a sign.
He literally manipulated his own companies stock price on Twitter.
I'm really looking forward to the full breakdown of what happened. All the shell games that were going on in the background.
The fact that he's still taken seriously after the "pedo guy" fiasco is honestly beyond me. Young dudes idolise him because they think he's a relatable dork made good but the dude is at worst dangerous and at best deeply annoying, literally an Epic Bacon Guy with billions of dollars.
Probably, it's just a gut feeling that I have, the guy is charismatic somehow. He speak to people, he isn't in an Ivory tower (not sure that expression can be translated in English though)
I think this is going to be pretty predictable.
DFV bought early and knew a shot squeeze was possible but couldn't afford to do it himself.
SS doesn't happen, but he keeps talking the stock up.
Other WSB users start buying and diamond hand memes begin.
Stock price starts to surge and shorts complain about market manipulation which then streisand effects the story.
More people jump on board. More memes and the short squeeze becomes real.
Up to this point everyone might have walked away clean. Then the diamond hands hold till Friday to the moon 1000 / destroy wall St shit happens and I assume there were people selling while publicly saying to hold.
This went from outsourcing the financing/risk of a short squeeze to others to out and out widespread fraud late last week.
It'll be a mess and I assume more than a few people are going to be in trouble over this, and lots of those trading apps are gonna be in hot water for their promissory language/lack of actual due diligence into their customer base.
DFV being a registered investment advisor during all of this is gonna fuck him HARD.
I own a Tesla and it's a great product. I like the company quite a bit and it's approach and tech. There are elements of Elon, like Steve Jobs, where his arrogance is so coupled with his drive to innovate you wonder if they can truly be separated. In that way, I get the appeal. Someone who is so absurd in their confidence that they generate something groundbreaking. On the other hand, he, like Jobs, is an arrogant prick who thinks too highly of himself and ignores all the others who helped get his company where it is.
Nuance is key with people like this in my opinion. I don't have much love for Elon, but I do understand where the intrigue lies with him. I can't stand how much people idolize him though.
yeah massmutual, his former employer, already said they would have told him to stop or fire him if they knew. massachusettes regulators are looking in to him. politicians are asking that he testify at their hearing. and that's probably just the top of the list. good luck to him
But like he grew up super rich living on apartheid emerald money. The only things I'll give him credit for are is making good investments and chucking his dad in the garbage bin.
I have no idea how a transphobic billionaire narcissist internet troll became idolized as the people's champion. Then again, our last president was not entirely dissimilar.
I like his products too, but there is no need to put that guy on a pedestal
careful with this line of comparison, disingenuous people will disregard your whole argument to just say elon isnt as bad as trump
Yeah, I'm not making that comparison. I'm just saying there is something about that sort of braggadocio that is appealing to people's lizard brains.
Elon Musk is clearly a much better human than Trump.
Also, he pushed for his own staff to be back at work in his CA factory despite local guidelines and covid risk, and he is openly critical of the US and praises China, while conveniently having nothing to say on China's human rights.
So i guess it is over, indeed. I wonder why it takes so "long", and yesterday stock even increased with like $2 compared to the market closing price the day before. Some people still believing in a big increase in the stock price?
I'm just holding my $100 investment regardless. Not much point selling it now when the loss is like ~82% at the moment, hehe :\
I'm just holding my $100 investment regardless. Not much point selling it now when the loss is like ~82% at the moment, hehe :\
Plenty of reason to sell now, don't just burn money for the hell of it. Donate the rest of it if you don't want it.
As I said, maybe it's not an usual metaphor in English, it is in French.
Ivory tower - Wikipedia
As I said, maybe it's not an usual metaphor in English, it is in French.
Ivory tower - Wikipedia
en.wikipedia.org
no that's used in english as well. i'm just not sure in what case isn't elon musk in an ivory tower? because he uses memes?