Jamalisms Posted January 28, 2021 Report Share Posted January 28, 2021 5 minutes ago, Titans279 said: Maybe I'm crazy but I need more confirmation this is real. oldschool, and Jonboy 2 Link to post Share on other sites More sharing options...
abenjami Posted January 28, 2021 Author Report Share Posted January 28, 2021 12 minutes ago, oldschool said: How is that even possible? Would have to be margin bets right? That's the question. Everything I have seen people aren't specifying whether they bought on margin or not. Link to post Share on other sites More sharing options...
heyitsmeallen Posted January 28, 2021 Report Share Posted January 28, 2021 Link to post Share on other sites More sharing options...
Titans279 Posted January 28, 2021 Report Share Posted January 28, 2021 8 minutes ago, Jamalisms said: Maybe I'm crazy but I need more confirmation this is real. Definitely. Just posting the things @abenjami was referring to. abenjami 1 Link to post Share on other sites More sharing options...
oldschool Posted January 28, 2021 Report Share Posted January 28, 2021 @abenjami how are those nok calls looking? Lol. Glad I only dumped a few hundred in yesterday. Link to post Share on other sites More sharing options...
abenjami Posted January 28, 2021 Author Report Share Posted January 28, 2021 (edited) I'm not expert on securities law, far from it actually. But I think it will be interesting to see what the securities lawyers come up with on the issue of brokers restricting retail traders from buying specific stocks. I would have to imagine the laws under which their broker licenses are granted have to contain rules about not restricting investors from making their own decisions and anti-discrimination stuff as well. I am also interested to see the economic effect on these specific stocks. E*trade just suspended buying of GME and AMC. I think now every single retail broker, or at least all of the large ones, have done this. What will that do to the price of the stock if current owners can only sell and in essence they can only sell to institutional buyers because the trade restrictions made retail demand =0? Edited January 28, 2021 by abenjami Link to post Share on other sites More sharing options...
abenjami Posted January 28, 2021 Author Report Share Posted January 28, 2021 4 minutes ago, oldschool said: @abenjami how are those nok calls looking? Lol. Glad I only dumped a few hundred in yesterday. They're looking terrible right now but I chose NOK for a few reasons over BB, AMC, and the others. It's a huge multi-national corporation with earnings and solid financials. It's not going bankrupt if the reddit pump fails. I also bought June calls to give me 5 months of potential recovery in case it took a dive this week. One of the things I have been laughing at is all the people on Reddit posting their option buys. These inexperienced "investors" mostly bought calls that expire tomorrow or next week. The way options prices were going, they could have bought something longer term for about the same price. oldschool 1 Link to post Share on other sites More sharing options...
heyitsmeallen Posted January 28, 2021 Report Share Posted January 28, 2021 Chamath with a great thread on what is happening. abenjami 1 Link to post Share on other sites More sharing options...
oldschool Posted January 28, 2021 Report Share Posted January 28, 2021 15 minutes ago, abenjami said: They're looking terrible right now but I chose NOK for a few reasons over BB, AMC, and the others. It's a huge multi-national corporation with earnings and solid financials. It's not going bankrupt if the reddit pump fails. I also bought June calls to give me 5 months of potential recovery in case it took a dive this week. One of the things I have been laughing at is all the people on Reddit posting their option buys. These inexperienced "investors" mostly bought calls that expire tomorrow or next week. The way options prices were going, they could have bought something longer term for about the same price. Mine expire in late Feb after the earnings call. I hope to break even. Nokia could be a decent long term play too. Link to post Share on other sites More sharing options...
Titans279 Posted January 28, 2021 Report Share Posted January 28, 2021 I didn't buy anything but Nokia actually seemed like a decent stock to me too. I don't really see much potential for AMC or GameStop. Don't really see people returning to theaters, which were already on the way out pre-covid. GameStop is getting eaten by the general death of retail, the sale of digital games, and in the future game streaming services. Just my opinion though. Link to post Share on other sites More sharing options...
abenjami Posted January 28, 2021 Author Report Share Posted January 28, 2021 4 minutes ago, oldschool said: Mine expire in late Feb after the earnings call. I hope to break even. Nokia could be a decent long term play too. I think some of the NOK bump wasn't due to reddit but speculation Apple's earnings yesterday would reflect something to cause increased expectations for Nokia. oldschool 1 Link to post Share on other sites More sharing options...
wiscotitansfan Posted January 28, 2021 Report Share Posted January 28, 2021 This is fucked. heyitsmeallen, OILERMAN, and titanruss 2 1 Link to post Share on other sites More sharing options...
oldschool Posted January 28, 2021 Report Share Posted January 28, 2021 5 minutes ago, Titans279 said: I didn't buy anything but Nokia actually seemed like a decent stock to me too. I don't really see much potential for AMC or GameStop. Don't really see people returning to theaters, which were already on the way out pre-covid. GameStop is getting eaten by the general death of retail, the sale of digital games, and in the future game streaming services. Just my opinion though. The gme and amc plays are strictly to put the screws to hedge fund short sellers and force a squeeze where they have to buy back stock at super inflated value. Nokia was never in the same boat as they aren't being shorted. abenjami 1 Link to post Share on other sites More sharing options...
oldschool Posted January 28, 2021 Report Share Posted January 28, 2021 This is why wall street hit back today. https://finance.yahoo.com/news/losses-short-positions-u-firms-132634671.html Link to post Share on other sites More sharing options...
abenjami Posted January 28, 2021 Author Report Share Posted January 28, 2021 1 minute ago, Titans279 said: I didn't buy anything but Nokia actually seemed like a decent stock to me too. I don't really see much potential for AMC or GameStop. Don't really see people returning to theaters, which were already on the way out pre-covid. GameStop is getting eaten by the general death of retail, the sale of digital games, and in the future game streaming services. Just my opinion though. Some of the early reddit GME people bought in on the idea that a guy named Ryan Cohen took a sizeable stake in the company. Cohen is the guy who started Chewy and he's known as an e-commerce guy. The hope was that he would save GameStop by helping transition it from a brick and mortar to more of an e-business. If you want a good laugh, check out the insider trading log for recent sales. A bunch of directors sold a bunch of shares right before the real madness began. These people all probably sold to lock in some profits when the run up started. Imagine how much money they left on the table by not waiting until this week? It's hilarious. Look at the James Wolf guy. Sure, he cashed out $17.2M but if he wanted until yesterday or this morning, he's got a quarter billion instead. Titans279 1 Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.