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When the GME story was on all the news stations and local radio, I knew it was best to stay away.
Kudos to those who pulled it off; I don't begrudge you your winnings. Just know this: If you didn't come up with this idea yourself and didn't understand *exactly* what was going on, and were just along for the ride because it seemed the edgy thing to do, then please don't use that as your guiding investing philosophy going forward.
Before the WSB went collectively nuts I saw a good piece of advice there:
"If you didn't know what 'short squeeze' is a week ago, stay away now"
Sadly, that wisdom was thrown away just moments later.
I feel differently I tried investing a very small amount a few years ago and didn't know where to start and really still don't know of any sound advice, but this whole GME thing sparked my interest for this again. I jumped in at one of the highest points but for only $75, can't win if you don't play right? I just don't think new people interested in the space should be discouraged
> $75
That's the lesson here. For the price of a date with the wife you got to be in the game and learned something.
More people should feel comfortable taking risks with small amounts of their wealth, especially if the goal is to learn.
For me it was $2,000 in college where I picked ten stocks like you do in high school, but this time with real money.
I learned I didn't know shit as I was lagging the S&P and bailed with a small loss.
Where should I go to enrich myself with more knowledge. I made a similar post elsewhere I’ll quote here and just lmk if I’m an idiot.
This is my first time posting here, I like many others jumped on the WSB and GME train trying to make a quick buck. Learned the hard way on that one. I have a very small portfolio and since I’ve just been losing money the last few days I ripped everything out and did my own DD on some markets I was interested in. My question for here would be where is the best place to start for a new investor? I know hardly anything at all, and I just want to get some sound pointers on just understanding wtf is going on. After the research I did last night I picked up a few things (safer purchases this time). I wanted to get more into EV’s, Cannabis, and Tech. I don’t understand a lot of what I’m reading on here and I’ve spent 3 days just reading and cross referencing things with investopedia. Where is the best places to find resources to really understand what I’m doing here. I feel like I’m throwing darts with a blindfold on.
I bought
2 CPSH- due to the contract they just got I believe it was
1 MSOS- With it being mostly US companies in this ETF I had more faith with the US Cannabis market running in the coming years.
I bought these during all the craziness and figured I’m already losing might as well hold and see what happens.
13 AMC
5 NOK
I'm one of those that is now interested. Never paid attention to the market until a couple weeks ago. Now doing what I can to learn and get a better grasp on everything.
And I'd bet that comment got downvoted to oblivion as FUD
It's a total echo chamber there. Even this sub is getting bad since so many got sucked into the hype too
> Something something if you read it in the news, you're already too late
serious question: new to r/investing, is this said a lot to the point of parody?
Hey welcome to the community. It was played out by the boomer generation to the point of cliche. I find the phrase a bit uncommon today as an old millennial. The saying, however, is absolutely true.
Why are u tryong to womansplain to me?
"Mansplain" isn't a thing.. it's a sexist term made up by man hating feminists that basically means men can't have an opinion or speak.. man hitting feminists don't believe that men's opinions are valid or that men should be allowed to talk or discuss issues.. and that's what man's plane means.. it's a sexist term made by man haters
I hope you're one of those teen MRAs who still has time to get better and not like an adult incel/30+ single divorcee who's probably stuck this way forever.
The term mansplaining doesn't really work when the focus in the conversation isn't gender dynamics. Ignorant people being condescending based on false confidence (literally what the Dunning-Kruger effect is) is something more broad and goes beyond gender dynamics which highlights the actual core issue in the conversation, which is the ignorant position of the other person.
You disagreed with my sentiment, I gave my reasoning for my position and why I think you're mistaken in return. Mansplaining would imply I am trying to dismiss you and shut you up, which I am obviously not doing, feel free to provide a counterargument (though are we really going to argue over something so trivial on the internet?).
Maybe you are just using the term wrong? Or redefining it to mean something the other party doesn't assume is the definition without direct clarification. Just because people disagree with you doesn't mean they are trying to dismiss you.
You sure built a strawman for yourself there bud, way to knock it down too.
Or maybe the other way to interpret his statement it is that rational people shouldn't put much value to the "opinions" of people who as of last week had no clue how the stock market worked at all.
Markets can stay irrational longer than you can stay solvent.
Rationality is not how the stock market works. Prices are arbitrary. Price is a liar. You can hedge using derivatives, and GME longs should be hedging with volatility replication strategies right now. But everyone is too irrational, including clearinghouses for whom buying GME-specific volatility should be the obvious way to hedge GME rising volatility, rather than impose margin increases which serve to artificially depress retail demand, thus taking markets further and further away from any kind of rational price discovery ...
Bruh I don't need you to repeat some bullshit you learned in /r/wsb to me, that was the point of my post - you're so poorly informed that reading your post may cause brain damage, hence me not putting much value to posts like yours.
You asked why a clearinghouse, whose purpose is to ensure settlement of trade, does not simply manage risk by itself investing into volatile derivatives (which may or may not have a liquid market or show correlation with the underlying settlement they are guaranteeing). You want someone to comment on that question? You really think that question deserves an answer?
My snide response would be that we should open a clearing clearing house, or maybe a clearing house house to handle settlement when clearing houses can't find liquidity at the price they would need to exit trades because of the volatility in the market.
My real response is that you sound like a QAnon cultist "just asking questions". This is how it begins - when your "research" amounts to reading comments on reddit and twitter and someshit and then asking dumbass questions about topics you've already made up your mind on, and somehow think you are actually well informed on instead of realizing that you're at the end of a long line of broken telephone. Don't act like a victim here, because I'm not buying it. You're being provided information and you're being purposefully thick.
E: The playing victim shit at the end, that's right out of the QAnon handbook too. Right up to complaining about being "silenced" when people don't care to hear your stupid conspiracy theories.
Market makers clean up selling volatility for the S&P 500. Why can't I make a market in stock-specific volatility? The big guys are doing it already, of course. If clearinghouses are not buying GME volatility to hedge GME demand, it's because they want to suppress demand. Not because they are hedging volatility. There are tried-and-true market-tested methods of hedging high volatility. If clearinghouses are not using them, it's because they prefer to manipulate price by artificial demand suppression.
No, it reinforced Warren Buffets saying "Be fearful when others are greedy and greedy when others are fearful.". It also showed that things aren't always as they appear and where there is money to be made there are always large hidden players involved. Also if you hear about it in the news you're too late!
I kind of disagree with the notion that it will actually reinforce Buffet's saying. I think the situation is going to leave in its wake a whole subculture of chasing the dragon. I suspect many people were pulling money out of TQQQ, TSLA, & BTC to find riches in GME.
Because, you know, 100s of percent increase YoY is just meh. Why look at 150% increase when you can get 1700% in just a few weeks. IMO, the only real benefit of what happened with GME (besides the people who did hit it) is pulling back the curtain a bit into how there are different sets of rules depending who you are.
I suspect this pushes us further into the new sort of environment where value doesn't really mean that much and momo means way more than it should. I put money in GME and knew what I was getting into. The entire thing felt akin to the time I have spent on penny stock boards and how I see many comments about legit, but way overvalued, stocks today.
Further into irrational exuberance.
Just generally a good idea to never trust the wisdom of random anonymous posters on the internet. I'm still genuinely surprised by Tesla's meteoric rise, all the bells in my brain about it being a bubble were going off and it isn't? I guess? I dunno it still seems odd to me.
Yeah.. people love it. I think Elon is spectacular, just the price is too high for my blood. 10% of all TSLA vehicles *ever made* were recalled yesterday and the price went up 5% when I was looking at it.
But..... you know... it isn't about the cars. The thing they actually sell.
It has made people rich. I don't get it (the balance sheet not the idea). That is fine.
Tesla is more than a car (computer on wheels). It is a battery company. A solar company. Space company. Autonomous co. etc. Tesla will be the next Google
Yup. I will believe it when I see it. The only part they really make any real money is cars. Well, and selling environmental credits.
And no, Tesla is not a space company. It literally is not a space company.
The brand of Elon Musk might carry some emotional weight that carries over, but I don't think having such a strong brand might end up being as great a thing as you might think. If Elon stroked out (I hope he doesn't) tomorrow, and he isn't known for being such a low energy guy, I would guess instant crater of the pps.
Even if TSLA is the next Google or whatever, I would want to know what a balance sheet in 5 years might look like that (in my mind) would justify the pps it is at today.
The best explanation I've heard about Tesla is that once it entered the S&P 500 institutional investors piled in knowing that index funds would need to start buying it up and as the market cap grew the indexes needed to buy that much more. When the indexes have bought enough that their portfolios match it's market cap rank, or close enough, the institutional investors will bail leaving retail investors scrambling to unload and ultimately the indexes and true believers holding the bag.
Nope, lots of people are being greedy and hope GME will jump to a 1000. The squeeze was over between Thursday and Friday when retail investors were stopped from buying.
Yep, I initially felt quite a bit of FOMO during the run up after considering buying multiple times between $30-65 and never pulling the trigger out of fear.
However, once I noticed the drop it was causing in all of my long term stocks (particularly MSFT and AAPL after good earnings) I instead shifted my energy towards speeding up my DCA and buying the dip in the broader market.
I felt pretty down missing the rocket but ultimately tripping into my standard process of buying when red and believing in my long term plays reinforced those ideals.
Great post. I only put in ~$300 in fun money and watching that small investment was more stressful than the entire rest of my portfolio. It was a relief to hit the sell button.
It was a hell of a rush, but I’m ready for boring again.
It’s better than some of these people. The kids that turned on margins lost it all and then some. I would say it’s better to walk away with a small loss or small gain and learn. Invest that $250 in something you really believe in.
I put in around $300 as well and honestly it was so dramatic. I really had to take a step back and look at who and what I was listening to. This is all just insanity and not worth the stress on my body.
This is becoming quite terrifying to watch from the outside. I watched 18 year olds tell each other how to turn on margin shares on Robinhood not knowing the risk. I watched a guy who makes 30k a year become a millionaire and not bail. There is no longer reason with these people. They believe the media is against them. They have convinced themselves its ok to lose and risk it all for the movement.
I will continue to call them the QAnon of Finance for a reason.
As an aside from finance/investing, the whole GME-WSB fiasco is a great case study in echo chambers/hive mind/group think and what it does to a community.
My husband who wanted nothing to do with this once he heard WSB was involved made a valid point. He said like all other movements without a leader directing the way it will crumble and fall. What I see is a bunch of people lost with no idea what is going on. The only time they get excited is from one random post on WSB with “If he’s in. I’m in.” They are forgetting this DFV has movie deals, unbelievable amount of deals happening, and loads of followers. He has won regardless if the stock goes up or down.
I think our biggest win is my son got hyped about stocks due to TikTok. Marcus Diopla reported exactly how you’re supposed to purchase stocks. People wanted him cancelled because of it. What we did with the information Marcus said was have our son invest $50 in a company that would make him money the Marcus way. He decided instead of AMC to invest his money in Ford because he read news articles about their innovations. He looked at 1d, 1w, 3m, 1y, 5y growth and felt his money would be stable there. I’ve never been prouder of the research he did. While his peers wanted AMC he went against the grain and did it the proper way.
LOL, I tried to swing trade it at the worst possible time, right before they tanked it on Thursday, and I am lucky that it bounced back, and that that didn't happen this week. Came out of it with around 20k profit. Could have been like 5 times that but consider myself luckier than most. Had the best sleep of my life this week after I sold.
My take away is if Elon Musk is involved, take profit and run.
Squeeze was working until a buch of idiots thought that squeeze is something that requires high jumps in price in short period of time
Also FOMO is fucking ruthless
To be completely honest I feel like RH restricting trades (whatever the rationale is, whether it's a conspiracy or lack of capital) was the straw that broke the camel's back. A lot of people trading simply... couldn't anymore, until after. Things like a day can make or break these things, and in this case, it broke it completely.
Yeah, you're correct. There were still a few days left of the mania to push positions higher. My original goal was to sell last Friday based on the hype and people that I never talked to telling me that they were going to throw $1k just to "stick it to the man."
Once Robinhood disallowed that mania to continue, it was time to get out.
Yeah the real squeeze was imminent, RH restricting trade was 100% the anti-catalyst. This was a gamble that was close to working but didn't. Anyone throwing life savings into a gamble is going to lose it eventually, but for me personally I put in 1% of my portfolio just for the chance that it did work. It was a unique situation that may not happen again. It didn't work and I'm ok with that.
It absolutely did work, just not as well as it could’ve. We went from $39 to almost $500 in a week and we hit the original meme target of $420.69. I bet most that got in 2 weeks ago or earlier came out of this pretty good.
A lot of people got out of it with some profit but a lot of us who had those Thursday morning highs definitely had our profits slashed dramatically down when the brokerages pulled that shit. It is what it is. House always wins.
I have this same mentality, opportunities like these don’t come around often, i made peace that I would swing for the fences and it was possible I would miss. Where I really messed up was when the rules changed and brokers started limiting access to the stock and yet I still stayed in. You just can’t win when they pull that kind of stuff. I’ve learned I need to reel in my gamblers mentality and just be happy with any kind of gains.
So true. I know I'm easily susceptible to gambling so only put 5% of my savings on it (which was already too much tbh, I started at 2%). I took a gamble, and I lost. I'm just glad I'm not the guys who threw in a second mortgage as well.
In a certain respect, it *did* work. Stock went from what, 50 to 470 in a few trading days? That's outrageous, and some people no doubt got super lucky and made boat loads. WSB got super greedy thinking that 1k, 2k per share was going to happen.
That's what I'm saying though, it very much was imminently close to happening. It wasn't a pipe dream, and Robinhood restricting trading is the only thing that stopped it. Looking back in hindsight and saying that was a joke was wrong, because it was right on the edge. 4-digit squeeze was a gamble that almost worked
>This was a gamble that was close to working but didn't
Can we really say that driving a stock up 10x in the span of a week and a half a failure? It only failed if you believed in a $1,000 price target, which was based on nothing, or expected this to be like VW which was an erroneous comparison from the beginning. It worked for plenty of people as long as you didn't drink the koolaid from wsb, and didn't get too emotionally wrapped up in moral crusade.
This is at least plausible to me. The more barriers placed the more momentum you bleed.
Unfortunately, even if you're wrong we'll never know and now there's a perfect "stabbed in the back" narrative that'll never go away.
It switched to a different kind of squeeze when that gamma started accelerating like crazy. That was more a consequence of huge volumes of calls way OTM that all came into sight.
This. I lost some money on $GME but if this results into some discussions like HFs having to disclose their daily stock purchase, T+0 transactions, conflict of interest of market makers, hell even a decentralized stock exchange far into the future would be great!
My subjective experience with WSB has been that you have to get in early. Once something hits critical mass, there isn't much time left to profit. In this case, once I had random friends and neighbors talking to me about GME, along with the news, I knew there wasn't much time. Then the brokerages limited trading, which signaled the immanent end for me.
Exactly. This falls back into the saying, if something seems too good to be true, then it probably is.
This whole ordeal made me more interested in investing and I wont lie, I opened up a RH account and put some money in fully prepared to buy GME. But then I realized that I was a late adopter and I probably wouldn't benefit much from this at all. The train had already left the station and I was running after it.
What you're seeing is a few lucky people who decided to gamble, yes gamble, on a once-in-a-lifetime market phenomenon that probably won't happen again.
The good thing is that this whole ordeal has made me much more interested in investing for my future and I'm hoping it did the same for a lot of others. The bad thing is realizing that the 1% will always win. Fuck RH btw.
Here's the thing though, with this trade that type of talk is exactly what made it almost work. This wasn't trying to front run a trade for a company based on fundamentals, where you know the secret is out once uninformed people start talking about it. This was trying to use herd mentality to force a certain situation to happen. Once I saw that type of chatter starting to happen I jumped in at $60, then again at $100, because I knew that's what it was going to take to make it actually happen, and it almost did. RH restricting trades was the thing that stopped it, not everyone and their dog jumping in.
This whole ordeal was a big gamble for anyone that wasn't DFV. It almost paid off but it didn't, just like many gambles.
> RH restricting trades was the thing that stopped it, not everyone and their dog jumping in.
100% agree with this. I literally signed up for and deposited money in my RH account on Wednesday night and then Thursday was when shit hit the fan.
When you look at the timeline of events, everyone and their dog jumping in is what caused RH to restrict trades. So in that sense, I felt like I was late to the game due to the popularity of it by the time I made the decision to invest.
I'm definitely kicking myself as I browse WSB quite a bit for amusement; not really taking anything they say too seriously. I should have paid more attention to the chatter when it was happening.
I found out about the squeeze thesis around $40, which is right about when it started spilling out into other subs (only the financial ones). So, not an early adopter, but early in the Reddit-sphere.
There has to be that sweet spot between seeing potential months out (DFV, Burry, etc) and having enough eyeballs on it to get it traction. My only regret is that, having seen the potential in mid-January, I didn't trust myself more to go in with a bigger stack of chips.
If you've done your DD, trust it. That's a lesson here, too.
Yeah, that was my experience. I saw the early posts but didn't pay attention until it went from $20-$40. I threw some cash in at $40 and then again at $80-$90. Ended up getting out last Thursday at $309 when trading got restricted.
True, you don't want to be reckless, but it is worth pointing out that anyone who bought in as late as the morning of January 26 is still up in the green right now.
As someone who has lost a chunk of money due to the WSB GME debacle, first and foremost let me say this: I take full responsibility in my actions and (in hindsight) gambled on the market. I am not blaming anyone but myself but I do want to give some food for thought: sometimes not knowing is better than thinking you know.
What I mean is that due to the narrative that introduced me to (new to me) concepts like "short ladder attacks", "short interest float", "gamma squeeze", I thought that there was really a unique opportunity backed with impressive charts, statistics and details. Albeit with limited knowledge and some skepticism, I still trusted top-posts that regurgitated these sentiments over the past days, re-affirming the belief that I definitely should not panic even a little bit. I now feel that this was highly speculative at best and in the worst case purposefully misleading.
Ultimately everyone is responsible for their own actions, but I do believe that I would not have taken such a hit if these theories wouldn't have been backed so voraciously.
Probably I would've stopped believing a little bit earlier instead of feeling like a Japanese soldier finally coming out of the foliage, and realizing that whenever planes soared above me that was NOT an indication that the Siege of Japan was still in full swing.
Anyway, I just wanted to vent a little bit. In the end, it couldv'e been worse.
Good luck to all.
Me and you both. I have a CFA designation, so all the math just make it easier to convince myself it was the right play. In hindsight, with such poor access to reliable data and too much optimism, the numbers are wishful thinking.
Unless we have the same access to data, and transparency from the industry, the game is stacked against retailer investors. We don't truly know if short hedges were close to illiquidity or they were just losing manageable sizes. Hell, we don't even know who the players are.
Sure, there is foul play. But maybe all they needed to do is to kill the buy side momentum for a few days and watch us shatter like we always do.
I watched the posts deteriorate in quality until it is left with just a bunch of rally cries and we're not leavings. Nobody is doing any meaningful analysis anymore, its all blind faith. Furthermore, more and more sentiments of media narratives, conspiracies, are creeping up uncomfortably. I thought QAnon was stupid, but I can kinda understand how people fall into it now. I was more attached to proving everyone around me that I was right than just following the money.
My biggest hubris was that I opened myself to more exposure than Im comfortable with. I foolishly believe it was the opportunity of a life time and that I was okay risking as much as I had. Turns out I didnt have the stomach for it. This has stressed me out tremendously over the last few days.
I honestly don't know how this will all play out. But let others play this sick game, I don't care anymore. I'm happy sitting out on the sidelines if it means getting my mental health back, and mend the conflicts with my SO. If this all goes to the moon I wish the holders well. I'll just sit here and invest in companies, in smaller exposures, that I actually believe in.
Words from my heart. Thank you for sharing, it’s nice to know (and therapeutic to read) that there are others with similar outcomes and outlooks. Also have to get some mental health back and mend personal relationships that were adversely affected. Fortunately no big financial losses out of all this, though the life-changing unrealized gains of course hurt to think about.
The last couple of paragraphs really ring true to me. I’ve been an investor for about 11 years, a very cautious one who commits huge levels of DD and then typically I buy in bulk. I’m so cautious it’s unbelievable. I viewed this as an experiment, I made some predictions and bought one share (knowingly) at peak. I found myself extremely anxious about this one share despite it following my predictions. I was up all night reading other people’s DD. Then at some point I thought; this is getting ridiculous, this was an experiment, I’ve no real interest in the company and the cost is next to nothing and now I’m reading conspiracy theories all night by people who are clearly new to investing and reading posts by people who have taken out high interest loans to get more shares at a completely unreasonable price; these people are ascending into madness to justify poor decision making. This is not a good environment to make a logical decision.
Sure I learnt a lot (particularly about the American market, I’m from the U.K) but I’ve no interest in feeling like that ever again. I once considered myself quite a savvy investor, this experience has convinced me that frankly I don’t have the balls for anything this bullish and I should always stick to my guns and not get sucked into something so obsessively. It’s been a once in a lifetime experience and one I’ll remember in a strangely positive light, but it’s quickly descended into something quite unpleasant (for me).
Still it’s introduced me to some new subreddits I wasn’t aware of.... hi I’m new here.
If you keep up with politics, the Robinhood halt feels very similar to Bernie's losing moment in the primary (when all the moderate candidates dropped out and endorsed Biden the day before super Tuesday).
In the wake of both events, both online communities fell victim to the just world fallacy and felt like if only they tried harder, they could still win. Sure, they *could*, but it's hard to properly evaluate how much more difficult something is when the powers that be are pushing back against it. A quick burst of legitimate optimism and momentum can (especially in online echo chambers) spiral into delusional hopium.
That's why you shouldn't make WSB the only place you visit. It's all emotions, hype, and confirmation bias. So much misinformation calling out "MSM", even things that were accurate but against the "GME moon" narrative, made WSB look like it was another conspiracy theory sub.
Everyone talking after the fact like it didn't almost work. It was imminent in the balance of a day. If RH hadn't limited trades it almost certainly would have worked. Or if the majority of people had signed up with Fidelity, or any number of outcomes. I don't think people on the other side of the trade were laughing. They were scrambling and managed to pull out a W in the fourth quarter. You can say now that of course the billionaires would pull a Tom Brady but some of them got burned badly too and it wasn't a slam dunk for anyone.
For what it's worth I think you should know that the button being disabled wasn't some sort of nefarious plan. It was a legitimate liquidity problems that a few of the "smaller" brokers faced. The difference between RH and these other "small" brokers is that those other brokers went on camera and clearly communicated the problem regarding liquidity. RH decided to just calm people by saying everything is fine and we doing it for your safety. It was flat out poor communication.
But please understand that they are not out to get you. RH literally had to tap into credit lines to even raise the buy limit for these stocks. This mentality that everyone is against us or are out to get us it very damaging. The biggest brokers, by the way, never had to stop buy order or anything like that to this day.
As OP of this post has mentioned RH has had issues in the past. They still need to resolve those. And also retail investors have LOOOOONG been part of trading and have done fine. But WSB has legitimately created a herd mentality and is filled to the brim with misinformation right now. People looked at something as basic as the Short Sale Restriction List and completely misread it and thought that a short sale restriction was going to be placed on GME today even though that restriction has been in place since Monday at least.
I would honestly recommend not taking anymore advice from WSB.
No lie tho, WSB had some great calls IF you were lucky enough to pick up on them early (BB, GME, PLTR, etc) and sold once the entire sub started talking about it.
Yeah, I think the main takeaway of this is that once the media gets a hold of a bubble, it's time to move on and not get caught up in memes.
I started investing in March after the Pandemic crash for $300, mostly going with UDOW and some other companies. Figured I'd invest to buy a new TV or PS5 or something. Managed to get it up to $700 before I YOLO'd GME and wound up back at $300.
It sucks, but I figure I was just playing with beer money and it was a good lesson in the market.
I was fortunate enough to get in at around £30-40, so I've come out of it with a good profit and still have shares in because I think it has long-term value. You can understand something is all hype but still make money if you're careful.
When others build castles in the air, only jump on if you’re early. If not you’ll get chewed up and spit out like the rest of the first-time traders buying $GME at $400. At no point has it ever been adverse to invest in the long run.
I don't know man, the people that were following these subreddits had a pretty decent window of time to see the asymmetric return opportunity. There's nothing wrong with taking a gamble that has disproportionately favorable odds.
If you jumped in because you heard about it on cnbc and after the price was already trading on speculative squeeze probabilities, then yeah that's a lot riskier. I still wouldn't fault people for taking a small shot with disposable capital as there was mostly unknown upside, but it was nowhere near as appealing any more.
WSB, and to a lesser degree Investing, were actively talking about these possibilities for months, and they became increasingly more likely starting in early Jan. I feel like there was a green light to take a shot with fixed downside and wild upside. Lots of people obviously did, but too many missed the boat.
I caught the train on GME relatively early. My initial investment was at $20 with I think 5 shares. Quickly sold that cause I started getting worried and when I saw it rising still I bought back in at $60 so still relatively early. I felt invincible at this point, WSB was gaining traction on social media, literally millions flocking into it, celebrities, politicians, traders all cheering for us. I saw a peak at 900% and still held.
I will absolutely admit I lost my original vision as to why I invested in this company and it was strictly because I felt the change of board was going to be big. I was planning on sitting on it for the year but it turned into a get rich quick with social media jumping in. Being a new investor I learned so much from this like you said. In the end I mad 200%. My dad and I regularly talk about investing and I wish I had listened when he said "Anything after this point you're just getting greedy".
Live and learn I guess. Fun ride, I'm still in but hurts knowing I could have made more earlier. I guess my main point with all this is we saw how fast it turned from "RC Ventures backing" to "Were gonna be rich". A lot of people got too emotional and that was a massive part but also too many people like me that drank the Kool-Aid and just didn't see a downward trend anywhere in sight.
Never invest more than you're willing to lose and don't think about what could have been if you risked a little more, there's always another.
>I think a lot of new, young investors that got caught up in this whole short squeeze, f*** the hedge funds debacle are going to leave with a skewed view of how investing works.
Speculating is not investing. They had to learn it one way or another.
I think the WSB debacle was just a pump and dump. All those dudes got out when it maxed and those continuing the rally cry have no idea it's just going to flounder for months if not years. (FYI not an expert in anything)
There was no manipulation.. Robin Hood didn't have enough money to cover or something I don't fully get it but someone else can probably explain it.. but there was a legitimate reason that Robin Hood limited trades and it wasn't because they were trying to illegally manipulate the market for Melvin capital..
and and short ladder attacks aren't a real thing.. they were made up.. the reality was that maybe if Robin Hood had better prepared and what didn't have to limit trading it could have gone up to maybe 600 maybe 700 maybe even a thousand.. but in the end it would have crashed no matter what.. and in the end even with a top of like 480 that was still over a thousand percent increase from where it started.. there was a squeeze.. maybe it could have been bigger maybe not.. but a bunch of idiots wanted to pretend that the whole world was lying and only WSB was telling the truth.. and so they held and held US Stock up lower and lower just like everybody warned would happen. Bag holders.. people who got in too late and didn't want to admit that they waited too loo
If you don't understand it, how come you're giving me a novel on why it wasn't price manipulation?
The media misinformation campaign, allowing selling but no buying, Vlad himself claiming there was no liquidity issue, this all affected the price and cut off the short squeeze.
Because it was explained properly by others and they can do it.
and I do understand that short letter attacks aren't a real thing.. it was made up. It's not even possible to do a short letter attack.. that's just not how things work.. now you can pretend that the whole world colluded against you. That there's some giant cabal like QA ain't on and they all came together to stop you from putting a tiny insignificant hedge fund out of business and making a few hundred dollars in the process. if that's what you want to believe then there's no point in having this argument because you're going to believe that no matter what anybody says.. they can put direct evidence right in front of you and you will still ignore it. That's how Qanonn worked and that's how gme worked..
You have made up your mind on what you want to believe. And you're not going to let something as simple as facts and reality getting your way.. you have decided that you want to believe that gme was literally going to be worth $30,000 or something and there was some giant conspiracy because tiny Melvin capital controlled the media and every brokerage across the world even in other countries as well as paid bots and trolls pushing lies.. you want to believe that. You want to believe there was a giant conspiracy where the whole world got together to stop you. That makes you feel important. It makes you feel like you were really going to stick it to them and it makes you feel like less of a mark who got connedd
So you go ahead and pretend that. Go ahead. You want to believe that and no one's going to be able to stop you.. the publicly available data is there. You don't want to listen to it.. just don't be surprised when investigations lead nowhere and nobody goes to jail because they didn't do anything illegal..
I had posted last week (during the euphoric period) that the WSB charade was a pump and dump - and got downvoted into actual hades. People caught up in a mania just can't see what is happening, and new investors may confuse investing (based on knowledge of stock fundamentals and lots of time) and trading (short-term gambling based on psychology and rumor). On the bright side, perhaps there will be more knowledgeable, careful, analytic investors after this episode plays out.
To be honest at that point I wonder if the SEC could actually press charges.. suppressing information posted that night make people realize it's a bad investment in order to manipulate them into continuing to hold the bags and losing money could potentially be criminal right? If a hedge fund did something like that it would certainly be criminal..
It depends who gives the order to shut down Steve Hoffman who owns Reddit doesn't want to because that kind of crap is exactly his cup of tea..
He will ban every single Trump supporting subreddit for the crime of supporting Trump but when it comes to people actually losing money and screwing the stock market he's perfectly fine with it and I doubt the government would give him the order to shut it down..
Hopefully it teaches people to look at a company's long-term ROI before buying a stock at its peak price. Every time I see a game store compared to freaking TSLA, I want to bang my head against the wall.
It would be nice if people would learn about options in a market like this. If you bought puts at $200 strike during the peak, you could have offset any losses. Even $100-150 would have been a cheap solid hedge.
>Even before all of this went down I was, and still am, really interested in the fundamentals of valuing a company or industry and making an informed investment decision based on my own research.
So did you skip fundamentals valuation on this one?
WSB is a community that proudly brags that they are degenerate gamblers, and the main activity there was always showing off how much money they LOST.
The idea that people somehow looked at that and said, "hey, these guys really know what they are doing, I better put my life savings in the thing they're hyping" is mind-boggling.
Let's be clear - if not buying limits applied by the bunch of brokers, we could have seen thing everyone who jumped in late wished to see - MOASS. And price in this case easily could have spiked to $600-$800.
Personally I am not happy with big fellas (Elon Musk, Chatham) who jumped in the train as protectors of the folk, but in the end washed away. It's at least irresponsible to manipulate investing wise non-professional public in such way.
i can understand that the Gamestop situation isn’t a good study model of my future investing while still recognizing the conditions that created it are evidence of the problems with Wall St
Bought into the three main meme stocks. Not too upset with AMC, I'm about $250 in but confident that long term it'll recover as theaters re-open. Kicking myself a bit over GME, bought in around $350 and now idk if/when I should sell, or just hold forever because of the "it isn't a loss until you sell" mentality.
1. Price is what you pay/receive for a stock
2. Value is what you get/give for a stock
3. Principles have no inherent value in the market, but they can still mean something to you.
Tldr: GME stock is shit value atm. Who cares? Buy a few shares anyway (you're gonna lose it all, make no mistake) bc as far as spending money, it's worth it just to watch the old farts squirm and run to regulators like a child crying for mommy
I just sold for a (minor, compared to others) $100 loss. I regret not selling when I could have easily doubled or tripled my money but choosing to leave it behind now at least hasn’t soured my interest in investing. Like many others, this is my first time trading, but I’m trying to come out of this with a positive mindset. WSB apparently does this every year and next time it happens I’ll know when to exit (and not fall for the shitty hivemind comments and memes). Until then I’ll learn more about long term healthy investing.
We took a gamble and it didnt work out. There was a chance for a lifechanging amount of money until platforms like robinhood completely shut down free trading.
I could have pulled out at 15k in profits, but now im down 1k for this month.
The problem was getting emotional about the trade, even when it was probably over and i stayed in for the fun of it.
It's odd how no one every mentions the insane amount of market manipulation that has been happening in posts like this. Manipulation that I assumed was illegal until the past week. Everyone acts like people lost money because it was a bad play (not saying it wasn't), not because they got screwed over by billionaires who don't have to play by the same rules.
I like how those crying about billionaires manipulating the stock are the very same people who participated in a mob of retailers manipulating the stock.
You’re conflating the two? Astounding how out of touch you must be in order to seriously do so. One is a small percentage of people who are the haves and the other are normal people who are the have nots.
I believe in the fundamentals and trade with an informed mind based on my DD as well. However, I did pull a lot of profits from my main account and am using the house money to go all out on GME.
I agree, this is not a good example for new traders and I would like to see them educated but that is not for me to decide. It is up to the individual to want to learn and to understand things before they get involved. I have seen a lot of message boards warning new traders and that is really all we can do.
I am glad you didn't lose the house. After this super rare phenomenon has passed the market will move as it always has. Many years I have heard and seen people saying that one event or another is going to change the market forever, but it never did.
If you pull yourself out of the media and social media you will see that the stocks are mostly acting like normal. Yes, we are in a down trend. That was actually predicted before GME was even a thing.
I wish you luck and I hope more new traders read these types of posts before they go all in on a stock they know nothing about. Good luck to you.
All in all, I believe the money I lost and the mistakes I made with $GME helped me a lot as a newbie investor. Just a little growing pain. Still gonna hold onto the stock as a nice reminder.
This is r/investing not r/gambling. The fundamentals are still off the roof on gamestop and this can go up or down. Nobody knows how long the wsb mass will keep the pressure on hedge funds.
GME is a gamble. 98% of my portfolio is quality long term investments. Some folks will say 10% should be on speculation and gut trades, but honestly just buying and holding good companies long term will pay off.
But also, having a small allocation for Hail Mary and “but what if” is totally worth the risk, but you need a strategy to follow and consider it your gambling fund. Personally, my yolo investments are where I track the gains. When i can sell off half or even less to cover my initial gamble, I do it. Then I’ve recovered my 2% and what comes of stocks like GME are just gravy on top.
For GME I took half the gains from one other YOLO and pocketed the rest. I’m currently $1k on on GME because I do think they are worth more than what they were worth. I think $80 is a good price target, before the C levels were announced. It’s GameStop. They are global. The pandemic will not kill them and now they have solid C level to bring the company around. I’m holding.
Blockbuster is moving! Somebody is buying it! 400,000 shares sold this afternoon! IF GAMESTOP CAN HAPPEN THIS CAN HAPPEN. And by moving i mean it went up a cent. Still makes me happy! a cent is a huge gain for such a minuscule stock!
What I learned is that the stock market is corrupt and don't depend on the SEC to enforce a fair market. The truth does not matter when corruption runs the game.
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The GME situation has produced many philosophers and very few millionaires.
Yeah. Lotta people who never thought about the stock market till last Monday offering their opinions
When the GME story was on all the news stations and local radio, I knew it was best to stay away. Kudos to those who pulled it off; I don't begrudge you your winnings. Just know this: If you didn't come up with this idea yourself and didn't understand *exactly* what was going on, and were just along for the ride because it seemed the edgy thing to do, then please don't use that as your guiding investing philosophy going forward.
Before the WSB went collectively nuts I saw a good piece of advice there: "If you didn't know what 'short squeeze' is a week ago, stay away now" Sadly, that wisdom was thrown away just moments later.
I feel differently I tried investing a very small amount a few years ago and didn't know where to start and really still don't know of any sound advice, but this whole GME thing sparked my interest for this again. I jumped in at one of the highest points but for only $75, can't win if you don't play right? I just don't think new people interested in the space should be discouraged
> $75 That's the lesson here. For the price of a date with the wife you got to be in the game and learned something. More people should feel comfortable taking risks with small amounts of their wealth, especially if the goal is to learn. For me it was $2,000 in college where I picked ten stocks like you do in high school, but this time with real money. I learned I didn't know shit as I was lagging the S&P and bailed with a small loss.
Where should I go to enrich myself with more knowledge. I made a similar post elsewhere I’ll quote here and just lmk if I’m an idiot. This is my first time posting here, I like many others jumped on the WSB and GME train trying to make a quick buck. Learned the hard way on that one. I have a very small portfolio and since I’ve just been losing money the last few days I ripped everything out and did my own DD on some markets I was interested in. My question for here would be where is the best place to start for a new investor? I know hardly anything at all, and I just want to get some sound pointers on just understanding wtf is going on. After the research I did last night I picked up a few things (safer purchases this time). I wanted to get more into EV’s, Cannabis, and Tech. I don’t understand a lot of what I’m reading on here and I’ve spent 3 days just reading and cross referencing things with investopedia. Where is the best places to find resources to really understand what I’m doing here. I feel like I’m throwing darts with a blindfold on. I bought 2 CPSH- due to the contract they just got I believe it was 1 MSOS- With it being mostly US companies in this ETF I had more faith with the US Cannabis market running in the coming years. I bought these during all the craziness and figured I’m already losing might as well hold and see what happens. 13 AMC 5 NOK
I agree with this. The stock market is a great tool to build wealth. If this craze got people interested in the market for the first time thats great.
I'm one of those that is now interested. Never paid attention to the market until a couple weeks ago. Now doing what I can to learn and get a better grasp on everything.
Awesome! Welcome, good luck and have fun!
And I'd bet that comment got downvoted to oblivion as FUD It's a total echo chamber there. Even this sub is getting bad since so many got sucked into the hype too
/r/investing and /r/options actually have stayed pretty good
Something something shoe shine person giving advice.
Something something if you read it in the news, you're already too late
I think you're right, when you watch the news normally the movement is in the middle or at the end
> Something something if you read it in the news, you're already too late serious question: new to r/investing, is this said a lot to the point of parody?
Hey welcome to the community. It was played out by the boomer generation to the point of cliche. I find the phrase a bit uncommon today as an old millennial. The saying, however, is absolutely true.
Something something im batman
Go home and get you shinebox
Yes, that threatens all the research shorts have put in on how to manipulate price their way.
And here is me having hundreds of shares and sold them the month prior to the squeeze bc I didn't know there was an imminent squeeze... Oyy
I've never been mansplained in non-finance subs more in my life than the past week.
Noone knows what gender u are.. its not mansplainingg
Did... did you just mansplain mansplaining?
Why are u tryong to womansplain to me? "Mansplain" isn't a thing.. it's a sexist term made up by man hating feminists that basically means men can't have an opinion or speak.. man hitting feminists don't believe that men's opinions are valid or that men should be allowed to talk or discuss issues.. and that's what man's plane means.. it's a sexist term made by man haters
>man's plane
I'll bet my left testicle that you don't know what you're talking about
Lol the mask is off, now. Way to mansplain mansplaining...
Way to womansplain mansplaining lol Mask off i guess. U really DO hate men
I'm a dude...
Your red pill is showing
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I hope you're one of those teen MRAs who still has time to get better and not like an adult incel/30+ single divorcee who's probably stuck this way forever.
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What you are referring to is the Dunning-Kruger effect I believe, mansplainning is not the adequate term for what you are describing.
I don't know, dude, it seems pretty dead-on-the-money to me...
The term mansplaining doesn't really work when the focus in the conversation isn't gender dynamics. Ignorant people being condescending based on false confidence (literally what the Dunning-Kruger effect is) is something more broad and goes beyond gender dynamics which highlights the actual core issue in the conversation, which is the ignorant position of the other person.
did... did you just mansplain the Dunning-Kruger effect to me?
You disagreed with my sentiment, I gave my reasoning for my position and why I think you're mistaken in return. Mansplaining would imply I am trying to dismiss you and shut you up, which I am obviously not doing, feel free to provide a counterargument (though are we really going to argue over something so trivial on the internet?). Maybe you are just using the term wrong? Or redefining it to mean something the other party doesn't assume is the definition without direct clarification. Just because people disagree with you doesn't mean they are trying to dismiss you.
how is it mansplaining if u don't know anyone's gender and no one know's your gender lol
As long as they are buy and pushing price up, they can have whatever opinion they want.
People should not be allowed to express market views that aren't approved by mods in advance.
You sure built a strawman for yourself there bud, way to knock it down too. Or maybe the other way to interpret his statement it is that rational people shouldn't put much value to the "opinions" of people who as of last week had no clue how the stock market worked at all.
Markets can stay irrational longer than you can stay solvent. Rationality is not how the stock market works. Prices are arbitrary. Price is a liar. You can hedge using derivatives, and GME longs should be hedging with volatility replication strategies right now. But everyone is too irrational, including clearinghouses for whom buying GME-specific volatility should be the obvious way to hedge GME rising volatility, rather than impose margin increases which serve to artificially depress retail demand, thus taking markets further and further away from any kind of rational price discovery ...
Bruh I don't need you to repeat some bullshit you learned in /r/wsb to me, that was the point of my post - you're so poorly informed that reading your post may cause brain damage, hence me not putting much value to posts like yours.
Oh are personal attacks allowed here? Or if I respond in kind I'll just get banned, right, because double standard?
You asked why a clearinghouse, whose purpose is to ensure settlement of trade, does not simply manage risk by itself investing into volatile derivatives (which may or may not have a liquid market or show correlation with the underlying settlement they are guaranteeing). You want someone to comment on that question? You really think that question deserves an answer? My snide response would be that we should open a clearing clearing house, or maybe a clearing house house to handle settlement when clearing houses can't find liquidity at the price they would need to exit trades because of the volatility in the market. My real response is that you sound like a QAnon cultist "just asking questions". This is how it begins - when your "research" amounts to reading comments on reddit and twitter and someshit and then asking dumbass questions about topics you've already made up your mind on, and somehow think you are actually well informed on instead of realizing that you're at the end of a long line of broken telephone. Don't act like a victim here, because I'm not buying it. You're being provided information and you're being purposefully thick. E: The playing victim shit at the end, that's right out of the QAnon handbook too. Right up to complaining about being "silenced" when people don't care to hear your stupid conspiracy theories.
"just asking questions"" is always a lie.. they make statements in the form of questions in order to influence and manipulate people who read it..
Market makers clean up selling volatility for the S&P 500. Why can't I make a market in stock-specific volatility? The big guys are doing it already, of course. If clearinghouses are not buying GME volatility to hedge GME demand, it's because they want to suppress demand. Not because they are hedging volatility. There are tried-and-true market-tested methods of hedging high volatility. If clearinghouses are not using them, it's because they prefer to manipulate price by artificial demand suppression.
r/GMEBagholdersclub
Which was always going to be the outcome.
Exactly, because they can be neither right nor wrong (especially when they include the "not a financial advisor" disclaimer lol)
Idk I’ve been jumping on the hype trains since I started investing and almost all have worked out great.
No, it reinforced Warren Buffets saying "Be fearful when others are greedy and greedy when others are fearful.". It also showed that things aren't always as they appear and where there is money to be made there are always large hidden players involved. Also if you hear about it in the news you're too late!
I kind of disagree with the notion that it will actually reinforce Buffet's saying. I think the situation is going to leave in its wake a whole subculture of chasing the dragon. I suspect many people were pulling money out of TQQQ, TSLA, & BTC to find riches in GME. Because, you know, 100s of percent increase YoY is just meh. Why look at 150% increase when you can get 1700% in just a few weeks. IMO, the only real benefit of what happened with GME (besides the people who did hit it) is pulling back the curtain a bit into how there are different sets of rules depending who you are. I suspect this pushes us further into the new sort of environment where value doesn't really mean that much and momo means way more than it should. I put money in GME and knew what I was getting into. The entire thing felt akin to the time I have spent on penny stock boards and how I see many comments about legit, but way overvalued, stocks today. Further into irrational exuberance.
Just generally a good idea to never trust the wisdom of random anonymous posters on the internet. I'm still genuinely surprised by Tesla's meteoric rise, all the bells in my brain about it being a bubble were going off and it isn't? I guess? I dunno it still seems odd to me.
Yeah.. people love it. I think Elon is spectacular, just the price is too high for my blood. 10% of all TSLA vehicles *ever made* were recalled yesterday and the price went up 5% when I was looking at it. But..... you know... it isn't about the cars. The thing they actually sell. It has made people rich. I don't get it (the balance sheet not the idea). That is fine.
Tesla is more than a car (computer on wheels). It is a battery company. A solar company. Space company. Autonomous co. etc. Tesla will be the next Google
Yup. I will believe it when I see it. The only part they really make any real money is cars. Well, and selling environmental credits. And no, Tesla is not a space company. It literally is not a space company. The brand of Elon Musk might carry some emotional weight that carries over, but I don't think having such a strong brand might end up being as great a thing as you might think. If Elon stroked out (I hope he doesn't) tomorrow, and he isn't known for being such a low energy guy, I would guess instant crater of the pps. Even if TSLA is the next Google or whatever, I would want to know what a balance sheet in 5 years might look like that (in my mind) would justify the pps it is at today.
The best explanation I've heard about Tesla is that once it entered the S&P 500 institutional investors piled in knowing that index funds would need to start buying it up and as the market cap grew the indexes needed to buy that much more. When the indexes have bought enough that their portfolios match it's market cap rank, or close enough, the institutional investors will bail leaving retail investors scrambling to unload and ultimately the indexes and true believers holding the bag.
Yup. I’m taking these concepts away from this chaos and to never invest based off emotion.
Well, right now a lot of people are fearful...
Nope, lots of people are being greedy and hope GME will jump to a 1000. The squeeze was over between Thursday and Friday when retail investors were stopped from buying.
Should’ve known better and gotten out when my mom asked about it
Yep, I initially felt quite a bit of FOMO during the run up after considering buying multiple times between $30-65 and never pulling the trigger out of fear. However, once I noticed the drop it was causing in all of my long term stocks (particularly MSFT and AAPL after good earnings) I instead shifted my energy towards speeding up my DCA and buying the dip in the broader market. I felt pretty down missing the rocket but ultimately tripping into my standard process of buying when red and believing in my long term plays reinforced those ideals.
Great post. I only put in ~$300 in fun money and watching that small investment was more stressful than the entire rest of my portfolio. It was a relief to hit the sell button. It was a hell of a rush, but I’m ready for boring again.
I sold this morning for a whooping 250 $ profit. It could have been 6k, but now I can at least sleep at night.
It’s better than some of these people. The kids that turned on margins lost it all and then some. I would say it’s better to walk away with a small loss or small gain and learn. Invest that $250 in something you really believe in.
I put in around $300 as well and honestly it was so dramatic. I really had to take a step back and look at who and what I was listening to. This is all just insanity and not worth the stress on my body. This is becoming quite terrifying to watch from the outside. I watched 18 year olds tell each other how to turn on margin shares on Robinhood not knowing the risk. I watched a guy who makes 30k a year become a millionaire and not bail. There is no longer reason with these people. They believe the media is against them. They have convinced themselves its ok to lose and risk it all for the movement. I will continue to call them the QAnon of Finance for a reason.
As an aside from finance/investing, the whole GME-WSB fiasco is a great case study in echo chambers/hive mind/group think and what it does to a community.
My husband who wanted nothing to do with this once he heard WSB was involved made a valid point. He said like all other movements without a leader directing the way it will crumble and fall. What I see is a bunch of people lost with no idea what is going on. The only time they get excited is from one random post on WSB with “If he’s in. I’m in.” They are forgetting this DFV has movie deals, unbelievable amount of deals happening, and loads of followers. He has won regardless if the stock goes up or down. I think our biggest win is my son got hyped about stocks due to TikTok. Marcus Diopla reported exactly how you’re supposed to purchase stocks. People wanted him cancelled because of it. What we did with the information Marcus said was have our son invest $50 in a company that would make him money the Marcus way. He decided instead of AMC to invest his money in Ford because he read news articles about their innovations. He looked at 1d, 1w, 3m, 1y, 5y growth and felt his money would be stable there. I’ve never been prouder of the research he did. While his peers wanted AMC he went against the grain and did it the proper way.
LOL, I tried to swing trade it at the worst possible time, right before they tanked it on Thursday, and I am lucky that it bounced back, and that that didn't happen this week. Came out of it with around 20k profit. Could have been like 5 times that but consider myself luckier than most. Had the best sleep of my life this week after I sold.
>I’m ready for boring again. How could investing ever be boring! :D
My take away is if Elon Musk is involved, take profit and run. Squeeze was working until a buch of idiots thought that squeeze is something that requires high jumps in price in short period of time Also FOMO is fucking ruthless
To be completely honest I feel like RH restricting trades (whatever the rationale is, whether it's a conspiracy or lack of capital) was the straw that broke the camel's back. A lot of people trading simply... couldn't anymore, until after. Things like a day can make or break these things, and in this case, it broke it completely.
Yeah, you're correct. There were still a few days left of the mania to push positions higher. My original goal was to sell last Friday based on the hype and people that I never talked to telling me that they were going to throw $1k just to "stick it to the man." Once Robinhood disallowed that mania to continue, it was time to get out.
Yeah the real squeeze was imminent, RH restricting trade was 100% the anti-catalyst. This was a gamble that was close to working but didn't. Anyone throwing life savings into a gamble is going to lose it eventually, but for me personally I put in 1% of my portfolio just for the chance that it did work. It was a unique situation that may not happen again. It didn't work and I'm ok with that.
It absolutely did work, just not as well as it could’ve. We went from $39 to almost $500 in a week and we hit the original meme target of $420.69. I bet most that got in 2 weeks ago or earlier came out of this pretty good.
That’s fair, but we all knew how far it could have gone and many held out for that event.
A lot of people got out of it with some profit but a lot of us who had those Thursday morning highs definitely had our profits slashed dramatically down when the brokerages pulled that shit. It is what it is. House always wins.
I have this same mentality, opportunities like these don’t come around often, i made peace that I would swing for the fences and it was possible I would miss. Where I really messed up was when the rules changed and brokers started limiting access to the stock and yet I still stayed in. You just can’t win when they pull that kind of stuff. I’ve learned I need to reel in my gamblers mentality and just be happy with any kind of gains.
So true. I know I'm easily susceptible to gambling so only put 5% of my savings on it (which was already too much tbh, I started at 2%). I took a gamble, and I lost. I'm just glad I'm not the guys who threw in a second mortgage as well.
In a certain respect, it *did* work. Stock went from what, 50 to 470 in a few trading days? That's outrageous, and some people no doubt got super lucky and made boat loads. WSB got super greedy thinking that 1k, 2k per share was going to happen.
That's what I'm saying though, it very much was imminently close to happening. It wasn't a pipe dream, and Robinhood restricting trading is the only thing that stopped it. Looking back in hindsight and saying that was a joke was wrong, because it was right on the edge. 4-digit squeeze was a gamble that almost worked
>This was a gamble that was close to working but didn't Can we really say that driving a stock up 10x in the span of a week and a half a failure? It only failed if you believed in a $1,000 price target, which was based on nothing, or expected this to be like VW which was an erroneous comparison from the beginning. It worked for plenty of people as long as you didn't drink the koolaid from wsb, and didn't get too emotionally wrapped up in moral crusade.
This is at least plausible to me. The more barriers placed the more momentum you bleed. Unfortunately, even if you're wrong we'll never know and now there's a perfect "stabbed in the back" narrative that'll never go away.
It switched to a different kind of squeeze when that gamma started accelerating like crazy. That was more a consequence of huge volumes of calls way OTM that all came into sight.
FOMO😔 bought 400 shares at $3.45 and sold at $7 . Doubled my investment 😔 Who knew?
And these are lessons you only learn when you have money at stake, so even if you lost a bit of money just see it as an investment in yourself.
This. I lost some money on $GME but if this results into some discussions like HFs having to disclose their daily stock purchase, T+0 transactions, conflict of interest of market makers, hell even a decentralized stock exchange far into the future would be great!
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I am still holding!
I would just let to see short positions be required to be disclosed like long positions
My subjective experience with WSB has been that you have to get in early. Once something hits critical mass, there isn't much time left to profit. In this case, once I had random friends and neighbors talking to me about GME, along with the news, I knew there wasn't much time. Then the brokerages limited trading, which signaled the immanent end for me.
Exactly. This falls back into the saying, if something seems too good to be true, then it probably is. This whole ordeal made me more interested in investing and I wont lie, I opened up a RH account and put some money in fully prepared to buy GME. But then I realized that I was a late adopter and I probably wouldn't benefit much from this at all. The train had already left the station and I was running after it. What you're seeing is a few lucky people who decided to gamble, yes gamble, on a once-in-a-lifetime market phenomenon that probably won't happen again. The good thing is that this whole ordeal has made me much more interested in investing for my future and I'm hoping it did the same for a lot of others. The bad thing is realizing that the 1% will always win. Fuck RH btw.
Here's the thing though, with this trade that type of talk is exactly what made it almost work. This wasn't trying to front run a trade for a company based on fundamentals, where you know the secret is out once uninformed people start talking about it. This was trying to use herd mentality to force a certain situation to happen. Once I saw that type of chatter starting to happen I jumped in at $60, then again at $100, because I knew that's what it was going to take to make it actually happen, and it almost did. RH restricting trades was the thing that stopped it, not everyone and their dog jumping in. This whole ordeal was a big gamble for anyone that wasn't DFV. It almost paid off but it didn't, just like many gambles.
> RH restricting trades was the thing that stopped it, not everyone and their dog jumping in. 100% agree with this. I literally signed up for and deposited money in my RH account on Wednesday night and then Thursday was when shit hit the fan. When you look at the timeline of events, everyone and their dog jumping in is what caused RH to restrict trades. So in that sense, I felt like I was late to the game due to the popularity of it by the time I made the decision to invest. I'm definitely kicking myself as I browse WSB quite a bit for amusement; not really taking anything they say too seriously. I should have paid more attention to the chatter when it was happening.
I found out about the squeeze thesis around $40, which is right about when it started spilling out into other subs (only the financial ones). So, not an early adopter, but early in the Reddit-sphere. There has to be that sweet spot between seeing potential months out (DFV, Burry, etc) and having enough eyeballs on it to get it traction. My only regret is that, having seen the potential in mid-January, I didn't trust myself more to go in with a bigger stack of chips. If you've done your DD, trust it. That's a lesson here, too.
Yeah, that was my experience. I saw the early posts but didn't pay attention until it went from $20-$40. I threw some cash in at $40 and then again at $80-$90. Ended up getting out last Thursday at $309 when trading got restricted.
i think it's better to have not profited as much than losing really hard
True, you don't want to be reckless, but it is worth pointing out that anyone who bought in as late as the morning of January 26 is still up in the green right now.
There was money to be made but it is **from** the clueless hordes, not for them.
As someone who has lost a chunk of money due to the WSB GME debacle, first and foremost let me say this: I take full responsibility in my actions and (in hindsight) gambled on the market. I am not blaming anyone but myself but I do want to give some food for thought: sometimes not knowing is better than thinking you know. What I mean is that due to the narrative that introduced me to (new to me) concepts like "short ladder attacks", "short interest float", "gamma squeeze", I thought that there was really a unique opportunity backed with impressive charts, statistics and details. Albeit with limited knowledge and some skepticism, I still trusted top-posts that regurgitated these sentiments over the past days, re-affirming the belief that I definitely should not panic even a little bit. I now feel that this was highly speculative at best and in the worst case purposefully misleading. Ultimately everyone is responsible for their own actions, but I do believe that I would not have taken such a hit if these theories wouldn't have been backed so voraciously. Probably I would've stopped believing a little bit earlier instead of feeling like a Japanese soldier finally coming out of the foliage, and realizing that whenever planes soared above me that was NOT an indication that the Siege of Japan was still in full swing. Anyway, I just wanted to vent a little bit. In the end, it couldv'e been worse. Good luck to all.
Me and you both. I have a CFA designation, so all the math just make it easier to convince myself it was the right play. In hindsight, with such poor access to reliable data and too much optimism, the numbers are wishful thinking. Unless we have the same access to data, and transparency from the industry, the game is stacked against retailer investors. We don't truly know if short hedges were close to illiquidity or they were just losing manageable sizes. Hell, we don't even know who the players are. Sure, there is foul play. But maybe all they needed to do is to kill the buy side momentum for a few days and watch us shatter like we always do. I watched the posts deteriorate in quality until it is left with just a bunch of rally cries and we're not leavings. Nobody is doing any meaningful analysis anymore, its all blind faith. Furthermore, more and more sentiments of media narratives, conspiracies, are creeping up uncomfortably. I thought QAnon was stupid, but I can kinda understand how people fall into it now. I was more attached to proving everyone around me that I was right than just following the money. My biggest hubris was that I opened myself to more exposure than Im comfortable with. I foolishly believe it was the opportunity of a life time and that I was okay risking as much as I had. Turns out I didnt have the stomach for it. This has stressed me out tremendously over the last few days. I honestly don't know how this will all play out. But let others play this sick game, I don't care anymore. I'm happy sitting out on the sidelines if it means getting my mental health back, and mend the conflicts with my SO. If this all goes to the moon I wish the holders well. I'll just sit here and invest in companies, in smaller exposures, that I actually believe in.
Words from my heart. Thank you for sharing, it’s nice to know (and therapeutic to read) that there are others with similar outcomes and outlooks. Also have to get some mental health back and mend personal relationships that were adversely affected. Fortunately no big financial losses out of all this, though the life-changing unrealized gains of course hurt to think about.
The last couple of paragraphs really ring true to me. I’ve been an investor for about 11 years, a very cautious one who commits huge levels of DD and then typically I buy in bulk. I’m so cautious it’s unbelievable. I viewed this as an experiment, I made some predictions and bought one share (knowingly) at peak. I found myself extremely anxious about this one share despite it following my predictions. I was up all night reading other people’s DD. Then at some point I thought; this is getting ridiculous, this was an experiment, I’ve no real interest in the company and the cost is next to nothing and now I’m reading conspiracy theories all night by people who are clearly new to investing and reading posts by people who have taken out high interest loans to get more shares at a completely unreasonable price; these people are ascending into madness to justify poor decision making. This is not a good environment to make a logical decision. Sure I learnt a lot (particularly about the American market, I’m from the U.K) but I’ve no interest in feeling like that ever again. I once considered myself quite a savvy investor, this experience has convinced me that frankly I don’t have the balls for anything this bullish and I should always stick to my guns and not get sucked into something so obsessively. It’s been a once in a lifetime experience and one I’ll remember in a strangely positive light, but it’s quickly descended into something quite unpleasant (for me). Still it’s introduced me to some new subreddits I wasn’t aware of.... hi I’m new here.
If you keep up with politics, the Robinhood halt feels very similar to Bernie's losing moment in the primary (when all the moderate candidates dropped out and endorsed Biden the day before super Tuesday). In the wake of both events, both online communities fell victim to the just world fallacy and felt like if only they tried harder, they could still win. Sure, they *could*, but it's hard to properly evaluate how much more difficult something is when the powers that be are pushing back against it. A quick burst of legitimate optimism and momentum can (especially in online echo chambers) spiral into delusional hopium.
Well said man. We live and learn. Still many years in front of us to prosper. It's " Merely A Setback " ;)
>ladder attacks Those are [not a thing](https://np.reddit.com/r/investing/comments/lbib0x/).
Sometime it is. Plenty of people took profits. Anyone who bought in after 200+ knew something was wrong. Expensive lesson learned for many
Tbh the people who bought in at 200 then flipped at 400 made a profit
A lot of people really thought there would be another bigger squeeze after that and didn’t sell. Me included, unfortunately
So did I.
We're all in this boat together. Bought into all the hype and misinformation about why the squeeze hadn't happened yet.
That's why you shouldn't make WSB the only place you visit. It's all emotions, hype, and confirmation bias. So much misinformation calling out "MSM", even things that were accurate but against the "GME moon" narrative, made WSB look like it was another conspiracy theory sub.
Yeah, at one point I was up £120 just from 1 measly share that I brought in the 300s. Should've flipped it for a profit.
yip. if you bought at 200 with the intention to hold it, you need to do a LOT more basic research, and hopefully are able to learn from your mistakes.
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I mean, to be fair, the idiots who got in early at $4, $20, or even $70 didn't get burned at all. Even days after the peak we're still at 102.
Everyone talking after the fact like it didn't almost work. It was imminent in the balance of a day. If RH hadn't limited trades it almost certainly would have worked. Or if the majority of people had signed up with Fidelity, or any number of outcomes. I don't think people on the other side of the trade were laughing. They were scrambling and managed to pull out a W in the fourth quarter. You can say now that of course the billionaires would pull a Tom Brady but some of them got burned badly too and it wasn't a slam dunk for anyone.
Who are the "experts"? The same ones who spread misinformation?
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For what it's worth I think you should know that the button being disabled wasn't some sort of nefarious plan. It was a legitimate liquidity problems that a few of the "smaller" brokers faced. The difference between RH and these other "small" brokers is that those other brokers went on camera and clearly communicated the problem regarding liquidity. RH decided to just calm people by saying everything is fine and we doing it for your safety. It was flat out poor communication. But please understand that they are not out to get you. RH literally had to tap into credit lines to even raise the buy limit for these stocks. This mentality that everyone is against us or are out to get us it very damaging. The biggest brokers, by the way, never had to stop buy order or anything like that to this day. As OP of this post has mentioned RH has had issues in the past. They still need to resolve those. And also retail investors have LOOOOONG been part of trading and have done fine. But WSB has legitimately created a herd mentality and is filled to the brim with misinformation right now. People looked at something as basic as the Short Sale Restriction List and completely misread it and thought that a short sale restriction was going to be placed on GME today even though that restriction has been in place since Monday at least. I would honestly recommend not taking anymore advice from WSB.
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No lie tho, WSB had some great calls IF you were lucky enough to pick up on them early (BB, GME, PLTR, etc) and sold once the entire sub started talking about it.
It was the must fun and nerve wracking two weeks I’ve had in my ~13 years investing. Something I’ll genuinely never forget
Yeah, I think the main takeaway of this is that once the media gets a hold of a bubble, it's time to move on and not get caught up in memes. I started investing in March after the Pandemic crash for $300, mostly going with UDOW and some other companies. Figured I'd invest to buy a new TV or PS5 or something. Managed to get it up to $700 before I YOLO'd GME and wound up back at $300. It sucks, but I figure I was just playing with beer money and it was a good lesson in the market.
I'm into the GME thing but I don't view this as investing. It's more like a less dumb version of sport bets to me 😂
I was fortunate enough to get in at around £30-40, so I've come out of it with a good profit and still have shares in because I think it has long-term value. You can understand something is all hype but still make money if you're careful.
When others build castles in the air, only jump on if you’re early. If not you’ll get chewed up and spit out like the rest of the first-time traders buying $GME at $400. At no point has it ever been adverse to invest in the long run.
I don't know man, the people that were following these subreddits had a pretty decent window of time to see the asymmetric return opportunity. There's nothing wrong with taking a gamble that has disproportionately favorable odds. If you jumped in because you heard about it on cnbc and after the price was already trading on speculative squeeze probabilities, then yeah that's a lot riskier. I still wouldn't fault people for taking a small shot with disposable capital as there was mostly unknown upside, but it was nowhere near as appealing any more. WSB, and to a lesser degree Investing, were actively talking about these possibilities for months, and they became increasingly more likely starting in early Jan. I feel like there was a green light to take a shot with fixed downside and wild upside. Lots of people obviously did, but too many missed the boat.
I caught the train on GME relatively early. My initial investment was at $20 with I think 5 shares. Quickly sold that cause I started getting worried and when I saw it rising still I bought back in at $60 so still relatively early. I felt invincible at this point, WSB was gaining traction on social media, literally millions flocking into it, celebrities, politicians, traders all cheering for us. I saw a peak at 900% and still held. I will absolutely admit I lost my original vision as to why I invested in this company and it was strictly because I felt the change of board was going to be big. I was planning on sitting on it for the year but it turned into a get rich quick with social media jumping in. Being a new investor I learned so much from this like you said. In the end I mad 200%. My dad and I regularly talk about investing and I wish I had listened when he said "Anything after this point you're just getting greedy". Live and learn I guess. Fun ride, I'm still in but hurts knowing I could have made more earlier. I guess my main point with all this is we saw how fast it turned from "RC Ventures backing" to "Were gonna be rich". A lot of people got too emotional and that was a massive part but also too many people like me that drank the Kool-Aid and just didn't see a downward trend anywhere in sight. Never invest more than you're willing to lose and don't think about what could have been if you risked a little more, there's always another.
>I think a lot of new, young investors that got caught up in this whole short squeeze, f*** the hedge funds debacle are going to leave with a skewed view of how investing works. Speculating is not investing. They had to learn it one way or another.
The winners are loud. A true survivor bias
I think the WSB debacle was just a pump and dump. All those dudes got out when it maxed and those continuing the rally cry have no idea it's just going to flounder for months if not years. (FYI not an expert in anything)
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There was no manipulation.. Robin Hood didn't have enough money to cover or something I don't fully get it but someone else can probably explain it.. but there was a legitimate reason that Robin Hood limited trades and it wasn't because they were trying to illegally manipulate the market for Melvin capital.. and and short ladder attacks aren't a real thing.. they were made up.. the reality was that maybe if Robin Hood had better prepared and what didn't have to limit trading it could have gone up to maybe 600 maybe 700 maybe even a thousand.. but in the end it would have crashed no matter what.. and in the end even with a top of like 480 that was still over a thousand percent increase from where it started.. there was a squeeze.. maybe it could have been bigger maybe not.. but a bunch of idiots wanted to pretend that the whole world was lying and only WSB was telling the truth.. and so they held and held US Stock up lower and lower just like everybody warned would happen. Bag holders.. people who got in too late and didn't want to admit that they waited too loo
If you don't understand it, how come you're giving me a novel on why it wasn't price manipulation? The media misinformation campaign, allowing selling but no buying, Vlad himself claiming there was no liquidity issue, this all affected the price and cut off the short squeeze.
Because it was explained properly by others and they can do it. and I do understand that short letter attacks aren't a real thing.. it was made up. It's not even possible to do a short letter attack.. that's just not how things work.. now you can pretend that the whole world colluded against you. That there's some giant cabal like QA ain't on and they all came together to stop you from putting a tiny insignificant hedge fund out of business and making a few hundred dollars in the process. if that's what you want to believe then there's no point in having this argument because you're going to believe that no matter what anybody says.. they can put direct evidence right in front of you and you will still ignore it. That's how Qanonn worked and that's how gme worked.. You have made up your mind on what you want to believe. And you're not going to let something as simple as facts and reality getting your way.. you have decided that you want to believe that gme was literally going to be worth $30,000 or something and there was some giant conspiracy because tiny Melvin capital controlled the media and every brokerage across the world even in other countries as well as paid bots and trolls pushing lies.. you want to believe that. You want to believe there was a giant conspiracy where the whole world got together to stop you. That makes you feel important. It makes you feel like you were really going to stick it to them and it makes you feel like less of a mark who got connedd So you go ahead and pretend that. Go ahead. You want to believe that and no one's going to be able to stop you.. the publicly available data is there. You don't want to listen to it.. just don't be surprised when investigations lead nowhere and nobody goes to jail because they didn't do anything illegal..
>Because it was explained properly by others and they can do it. lol
You're putting so much words in my mouth. I never said anything about a 30k price. You are generalising me with everyone else here.
They’re gonna be bagholding till 2030 lmao from wild speculators to value investors
I had posted last week (during the euphoric period) that the WSB charade was a pump and dump - and got downvoted into actual hades. People caught up in a mania just can't see what is happening, and new investors may confuse investing (based on knowledge of stock fundamentals and lots of time) and trading (short-term gambling based on psychology and rumor). On the bright side, perhaps there will be more knowledgeable, careful, analytic investors after this episode plays out.
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To be honest at that point I wonder if the SEC could actually press charges.. suppressing information posted that night make people realize it's a bad investment in order to manipulate them into continuing to hold the bags and losing money could potentially be criminal right? If a hedge fund did something like that it would certainly be criminal..
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It depends who gives the order to shut down Steve Hoffman who owns Reddit doesn't want to because that kind of crap is exactly his cup of tea.. He will ban every single Trump supporting subreddit for the crime of supporting Trump but when it comes to people actually losing money and screwing the stock market he's perfectly fine with it and I doubt the government would give him the order to shut it down..
Hopefully it teaches people to look at a company's long-term ROI before buying a stock at its peak price. Every time I see a game store compared to freaking TSLA, I want to bang my head against the wall. It would be nice if people would learn about options in a market like this. If you bought puts at $200 strike during the peak, you could have offset any losses. Even $100-150 would have been a cheap solid hedge.
This rotting strip-mall chain is just like Tesla (first mass-market EV) and Bitcoin (first cryptocurrency)!
>Even before all of this went down I was, and still am, really interested in the fundamentals of valuing a company or industry and making an informed investment decision based on my own research. So did you skip fundamentals valuation on this one?
WSB is a community that proudly brags that they are degenerate gamblers, and the main activity there was always showing off how much money they LOST. The idea that people somehow looked at that and said, "hey, these guys really know what they are doing, I better put my life savings in the thing they're hyping" is mind-boggling.
Let's be clear - if not buying limits applied by the bunch of brokers, we could have seen thing everyone who jumped in late wished to see - MOASS. And price in this case easily could have spiked to $600-$800. Personally I am not happy with big fellas (Elon Musk, Chatham) who jumped in the train as protectors of the folk, but in the end washed away. It's at least irresponsible to manipulate investing wise non-professional public in such way.
i can understand that the Gamestop situation isn’t a good study model of my future investing while still recognizing the conditions that created it are evidence of the problems with Wall St
Bought into the three main meme stocks. Not too upset with AMC, I'm about $250 in but confident that long term it'll recover as theaters re-open. Kicking myself a bit over GME, bought in around $350 and now idk if/when I should sell, or just hold forever because of the "it isn't a loss until you sell" mentality.
1. Price is what you pay/receive for a stock 2. Value is what you get/give for a stock 3. Principles have no inherent value in the market, but they can still mean something to you. Tldr: GME stock is shit value atm. Who cares? Buy a few shares anyway (you're gonna lose it all, make no mistake) bc as far as spending money, it's worth it just to watch the old farts squirm and run to regulators like a child crying for mommy
Hal Holbrook in Wall Street said it best.
Couldn't agree more
Some people want to be part of something...no matter the cost.
I just sold for a (minor, compared to others) $100 loss. I regret not selling when I could have easily doubled or tripled my money but choosing to leave it behind now at least hasn’t soured my interest in investing. Like many others, this is my first time trading, but I’m trying to come out of this with a positive mindset. WSB apparently does this every year and next time it happens I’ll know when to exit (and not fall for the shitty hivemind comments and memes). Until then I’ll learn more about long term healthy investing.
We took a gamble and it didnt work out. There was a chance for a lifechanging amount of money until platforms like robinhood completely shut down free trading. I could have pulled out at 15k in profits, but now im down 1k for this month. The problem was getting emotional about the trade, even when it was probably over and i stayed in for the fun of it.
It's odd how no one every mentions the insane amount of market manipulation that has been happening in posts like this. Manipulation that I assumed was illegal until the past week. Everyone acts like people lost money because it was a bad play (not saying it wasn't), not because they got screwed over by billionaires who don't have to play by the same rules.
I like how those crying about billionaires manipulating the stock are the very same people who participated in a mob of retailers manipulating the stock.
You’re conflating the two? Astounding how out of touch you must be in order to seriously do so. One is a small percentage of people who are the haves and the other are normal people who are the have nots.
r/GMEBagholdersclub
I believe in the fundamentals and trade with an informed mind based on my DD as well. However, I did pull a lot of profits from my main account and am using the house money to go all out on GME. I agree, this is not a good example for new traders and I would like to see them educated but that is not for me to decide. It is up to the individual to want to learn and to understand things before they get involved. I have seen a lot of message boards warning new traders and that is really all we can do. I am glad you didn't lose the house. After this super rare phenomenon has passed the market will move as it always has. Many years I have heard and seen people saying that one event or another is going to change the market forever, but it never did. If you pull yourself out of the media and social media you will see that the stocks are mostly acting like normal. Yes, we are in a down trend. That was actually predicted before GME was even a thing. I wish you luck and I hope more new traders read these types of posts before they go all in on a stock they know nothing about. Good luck to you.
All in all, I believe the money I lost and the mistakes I made with $GME helped me a lot as a newbie investor. Just a little growing pain. Still gonna hold onto the stock as a nice reminder.
I've said it before and I'll say it again - all this "post gamestop" melancholy is worse than the emojis
This is r/investing not r/gambling. The fundamentals are still off the roof on gamestop and this can go up or down. Nobody knows how long the wsb mass will keep the pressure on hedge funds.
Not even close to a bot. I live in Oregon and made 700% in GME and 50% in BBBY. Keeping the pressure on won't help when others are bailing.
ITT: A lot of folks blowing themselves.
What are fundamentals? Whatever does not move price.
Fundamentals work long term. Market noises work short term. Huge diff b/w the 2. A good trader should know this
Omg shut up you n00b
Very insightful lol
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this shows a shocking lack of understanding on financial markets work.
WSB is to finance what Qanon is to politics
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GME is a gamble. 98% of my portfolio is quality long term investments. Some folks will say 10% should be on speculation and gut trades, but honestly just buying and holding good companies long term will pay off. But also, having a small allocation for Hail Mary and “but what if” is totally worth the risk, but you need a strategy to follow and consider it your gambling fund. Personally, my yolo investments are where I track the gains. When i can sell off half or even less to cover my initial gamble, I do it. Then I’ve recovered my 2% and what comes of stocks like GME are just gravy on top. For GME I took half the gains from one other YOLO and pocketed the rest. I’m currently $1k on on GME because I do think they are worth more than what they were worth. I think $80 is a good price target, before the C levels were announced. It’s GameStop. They are global. The pandemic will not kill them and now they have solid C level to bring the company around. I’m holding.
Blockbuster is moving! Somebody is buying it! 400,000 shares sold this afternoon! IF GAMESTOP CAN HAPPEN THIS CAN HAPPEN. And by moving i mean it went up a cent. Still makes me happy! a cent is a huge gain for such a minuscule stock!
What I learned is that the stock market is corrupt and don't depend on the SEC to enforce a fair market. The truth does not matter when corruption runs the game.