Investing (stocks and/or other asset classes).

[Dan_AKA_ROY23]

i just seen on gab yesterday that andrew torba the owner of Gab.com (which is like twitter but for free speech) started their own WallStreetBets group since many other of the groups were taken down.

They were talking about doing to $BLIAQ what they did to $GME. $BLIAQ and $BLIBQ are the A/B shares of BlockBuster, just different voting shares. Blockbuster (http://www.blockbuster.com/">http://www.blockbuster.com/) was bought out by dish and dish is said to try to turn it into the next netflix. Currently its trading at $0.012 i believe. Im not much of a pennystocker but im jumping onboard just for a small lottery/gamble buy. The more i use Gab though the more its growing on me. seems to be a really well ran social media platform.

Be careful, Josh. Buying a smallish size is a good bet...Good luck. (like your logic here)

[ghuns]

https://twitter.com/stoolpresidente/status/1354783589859266563">https://twitter.com/stoolpresidente/sta ... 9859266563">https://twitter.com/stoolpresidente/status/1354783589859266563

[Dan_AKA_ROY23]

Robinhood, TD Ameritrade, and several other brokerages have blocked users from purchasing anymore stock from GME, AMC and NOK.

Now the only buyers in market for those stocks will be the big guys who need to close out their short positions on the stock.

So much for The Holy Blessed Sacred Free Market.

Never experienced this phenomena before because...this is unprecedented. I know NOK is down -25% today.

These guys have the numbers (a few million) and organization (Reddit Wall Street Bets instructing them what to do). Hedge funds who have always heavily shorted troubled stocks always made a fortune. They are getting killed now.

Very tempting to "get in on the insane action"...however, I will just observe. This could end badly. If I were to dabble in these speculative buys, like Josh - it would be a tiny amount.

[Dan_AKA_ROY23]

BB down -30% now. Tyler still well ahead in this buy. BB is one of the heavily shorted stocks Wall Street Bets has been trumping. A sound reason the stock jumped up this much higher in a short time span.

[TylerBeer]

Yeah I sold some of my position at
At 25 - (and bought Nokia lol) bb on the WSB radar but I was investing in it for different reasons. Might call this a dip and buy back.  Stuff tanking on reactions to WSB, Robinho being down but I don't think these guys are done yet. Meanwhile GME shot back up

[ghuns]

And just like that, GME is in freefall. Under $200 from it's high of $483.

[gcode]

And just like that, GME is in freefall. Under $200 from it's high of $483.

$132 now

[TylerBeer]

had to happen sometime but that was fast - wild ride boys!

Frustrating on the BB front because they were already in the news and on an upwards trajectory - freezing it out shut down a lot of legitimate trading.

Thought this would make it to end of week, and then the decision makings would happen over the weekend.

[marshal]

And just like that, GME is in freefall. Under $200 from it's high of $483.

that'll happen when most of the places you can buy stock won't let you buy that stock!

[Smit]

had to happen sometime but that was fast - wild ride boys!

Frustrating on the BB front because they were already in the news and on an upwards trajectory - freezing it out shut down a lot of legitimate trading.

Thought this would make it to end of week, and then the decision makings would happen over the weekend.

So how did you make out? Did you get out at the right time?

[TylerBeer]

had to happen sometime but that was fast - wild ride boys!

Frustrating on the BB front because they were already in the news and on an upwards trajectory - freezing it out shut down a lot of legitimate trading.

Thought this would make it to end of week, and then the decision makings would happen over the weekend.

So how did you make out? Did you get out at the right time?

Nope, I tried to sell late in the day, had a meeting go waaay too long and I didn't have anything set up because the day was so wild. Going to work cost me a few thou!

[Dan_AKA_ROY23]

Estimates (rough, for sure) are hedge funds lost 54 billion on short squeezes. They (like anyone) have to have enough available funds to buy back (buy to cover) shares they shorted. The prices on some of these (GME, AMC the two most watched blowups) skyrocketed so high, so fast these hedge funds got shellacked. Some couldn't cover their shorted positions!

That stuffs a bit over my head... Why I don't short stocks (I do buy inverse ETF's during sharp market corrections, but that isn't the same as heavily shorting individual stocks).

So,..... the wall street elites got taken to the cleaners and responded by rigging even more the game. Got their asses handed to them and cried foul. Rigged the game restricting trading.... They've ruined many companies over the years destroying their stock's value but that's ok. When they get taken to the woodshed, then that's a different story. Hypocrites.

[Del.]

It's my understanding they borrow the shares with no money up front and then sell the shares and wait for price to drop and buy it back and pocket the difference.
Is that right?

[Dan_AKA_ROY23]

It's my understanding they borrow the shares with no money up front and then sell the shares and wait for price to drop and buy it back and pocket the difference.
Is that right?

These guys explain it well...

https://www.investopedia.com/terms/s/shortselling.asp">https://www.investopedia.com/terms/s/shortselling.asp

[Dan_AKA_ROY23]

https://www.investopedia.com/terms/s/shortsqueeze.asp">https://www.investopedia.com/terms/s/shortsqueeze.asp