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opicky[General Discussion] GameStop

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#1
Hello everyone!

Now that it's on the news, has anybody here been following Gamestop stock? I think it's very interesting how such a quiet company has become such a big deal.

Let's also not talk about how much stock you have, that might get a little dangerous (I haven't purchased any)
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#2
I've been following the whole mess. Some hedge funds who tried to short-sell their stocks to make really big gains (GME prices were at about $3 at one point in time and they wanted to go lower than that).

They do this by getting the stock lent out to them by the broker (who may get it from securities lending), then selling that stock for a cheaper price.
Think about selling 1 $10 stock, and expecting the price to go lower to $5 in order to get a $5 profit as you only have to buy back that same stock to give back to the broker at $5.

They were doing this with Gamestop stocks on a huge scale.

Other people took notice of it and started buying the stocks at a really cheap price. When you have the internet involved, it seems like their stock purchases combined resulted in heavy loses from the short-selling hedge funds, who now have to either buy those stocks back at a loss, or short-sell even more stocks for the sake of trying to make a good return.

It's crazy how short-selling hedge funds could legally manipulate the stock market while small time investors are penalized for it when they essentially do the same. It really shows an unsurprising fact that the market isn't free whatsoever. Yea, the short-selling balances the overbuying of stocks, but it seems like this is something that is exclusive to these big time investors, based on Robinhood's forceful selling of their customer's stocks. 


On the other hand, I have been trying to cash in on some Blackberry stocks.

I was always on the fence on making investments in the stock market, but I feel pretty confident that I will do well, so long as I put in what I normally spend on bullshit and expect no return, haha.
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#3
(30-01-2021, 11:11 AM)RomperOff Wrote: I was always on the fence on making investments in the stock market, but I feel pretty confident that I will do well, so long as I put in what I normally spend on bullshit and expect no return, haha.

One of the main investing rules: Invest only amount you can afford to lose. Good luck with investments
Please read forum rules carefully before making your first posts.
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#4
Personally, I think it's hilarious that hedge fund managers who engage in the exact same sort of "market manipulation" using a huge pool of other people's money now are crying foul when the same things is done by a crowd on reddit.
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