ST Alpha - "I think the fun is over with Gamestop." (Reading a Post)

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I think the fun is over with Gamestop.

Posted by Inigo (aka Inigo) Jan 28 '21, 07:57

Profit taking was bound to happen. People are just too greedy,

Responses:

Hmm. I was wrong. Rollercoaster! -- nm - Inigo Jan 28, 09:08
the focus needs to switch next to how to ensure this doesn't happen again. -- nm - amanda jeans Jan 28, 08:19 4
- I'm not sure that's possible? There's nothing illegal about say ST deciding that we're all going to buy stock X for the lulz. If we're stupid enough -- (edited) - JD Jan 28, 08:29
- Now why would we go and do something like that? -- nm - con_carne Jan 28, 08:26
- That's on the hedge funds. They obviously can't handle the intricacies of the market, so they need stricter regulations. -- nm - Beryllium Jan 28, 08:26 1
  - Someone should teach the hedge fund managers how to budget -- nm - ty97 Jan 28, 08:45
No one was going to hold it long term. -- nm - Mop Jan 28, 08:14 3
- But, but, but, it was going to $1000!!!!!!! - zunkskunk+ Jan 28, 08:15 2
  - Diamond hands! - znufrii Jan 28, 08:16 1
    - Taking all the tendies -- nm - ty97 Jan 28, 08:23
Daily range as of this second. 196.05 - 482.85. On the low... -- nm - zunkskunk+ Jan 28, 08:10 7
- Every time someone wants to sell, there has to be a buyer. Who is offering more than a buck right now? -- nm - Mop Jan 28, 08:17 6
  - But with some of the short sellers deciding to cut their losses, there are people willing to buy at current prices - JD Jan 28, 08:36 2
    - And not to put too fine a point on it, some people have to buy, right now, at what ever price they can. -- nm - Reagen Jan 28, 08:37
    - Oh and there's the infamous margin call scenario? -- nm - JD Jan 28, 08:37
  - If no one wants to sell for a buck, you ain't getting it for that. It's into pure scarcity pricing, like a baseball card. -- nm - Reagen Jan 28, 08:24
  - Hedge funds covering and re-shorting on the way down to lock in their gains? -- nm - znufrii Jan 28, 08:19 1
    - Also HFTs don’t care what the price is. -- nm - znufrii Jan 28, 08:25
All the other Stock Market stuff seems boring in comparison -- nm - budice Jan 28, 08:07
Has it been posted that some platforms/brokerages are prohibiting new buying today? I guess Robinhood isn't so "cool" now. -- nm - zunkskunk+ Jan 28, 08:04 3
- They might get sued, but certainly (and perhaps more hurtfully to them) their reputation will be in tatters after today. -- nm - Beryllium Jan 28, 08:06 2
  - They’d get sued regardless. - znufrii Jan 28, 08:09 1
    - I look forward to the book -- nm - ty97 Jan 28, 08:13
That's one thing I didn't understand the end game for. Someone is going to be the last person out. -- nm - Dano Jan 28, 08:02 6
- Oh, it's a stampede for the exit, which is why I wanted nothing to do with it. -- nm - Reagen Jan 28, 08:42
- Outcome could be healthy for sure. The impetus for the action was not that though, IMO. -- nm - ty97 Jan 28, 08:11 2
  - You are right, probably not. Still. If this keeps going, do you know who will really line their pockets? Hedge funds. (NM) - Marlowe Jan 28, 08:15
  - VVVV This is in response to Marlowe -- nm - ty97 Jan 28, 08:11
- And that's why I think that blocking the purchases in Robinhood is actually healthy. Those suckers would bleed to death. (NM) - Marlowe Jan 28, 08:06
- But as long as you're not the last one out. I also think that there was a non-end game goal which was to see if they could hurt the hedge funds -- nm - JD Jan 28, 08:06
Once people start heading for the exits, it'll become a stampede very quickly - Brian Jan 28, 08:01
It’s almost like inflating something 35x it’s true value doesn’t lead to consequences. -- nm - Will Hunting Jan 28, 08:00 2
- works for Tesla -- nm - decline Jan 28, 08:08 1
  - As much as I think Tesla is ridiculously overpriced, there’s a hope case where it actually achieves Musk’s vision. It’s potentially not a joke. - Will Hunting Jan 28, 08:21

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I think the fun is over with Gamestop.

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