I just realized RH doesn’t have AH/PM trading. Another reason they suck.
This is pretty much the crypto boom from a couple years ago 2.0. After it’s over I will immediately go back to indexing and will pretend I wasn’t a part of an obvious bubble.
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I think you’re focusing too much on the shorting aspect. The majority of people who have invested in GME don’t even know what that is. The main thing to focus on and what will change is that the ease in everyone having access creates new problems. If it wasn’t gamestop stock being the catalyst, it would have been something else.
We have plenty of people itt who have said their parents are asking them about this. I had to explain terms to my friends after they had purchased. That’s not great imo.
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So just stop letting people buy on margin? How is stopping trading on the stock altogether the right answer?
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Also too, RH was liquidating non-margined positions. They had a cash crunch because of antique settlement techniques, as someone posted upthread. They couldn’t handle the sheer transaction volume.
It’s criminal imo. I don’t have a problem with them taking away my margin account, but to limit how much stock I can purchase with my own money and prevent free trade just to protect big hedge funds should be a punishable crime
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I actually got my robinhood working, deposited $500, and bought 100 shares of LMFA at $2.90 a share. I’m definitely about to lose $290, aren’t I?
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If they really did liquidate non-margin positions to save their own ass they can and should be sued into oblivion. That’s indefensible.
And they don’t get the “we never could have guessed this would happen” defense, it’s their whole
business model.
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I’m late to this thread, but what do you think happened? Sure, some innocent people are getting hurt trying to get in on it. But it’s my understanding that most don’t even care about making money. They are doing this primarily to fuck with Wall Street. I for one, think it’s a GENIUS idea and hope it continues with other stocks
I’m in on LMFA. Lol at only 8 employes.
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Well it won’t go to zero(in the next couple of days) so probably not.
I put hte full $500 into it lol. So as I understand it, it has gone up 100 percent today already. So basically my most likely outcome is that I just lost $250, with the possibility that I’m about to become a millionaire?
Plus, the “retail” investors include a ton of people that have outsized influence in the halls of power themselves, like attorneys. This fight is going to be wild.
I know I’ve been posting some pretty shitty, uninformed takes. But I just looked at my podcast queue and… Let’s just say that I’m about to learn A LOT about the intricacies of the GameStop situation. Right after I learn about the best Beal trades.
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Wtf? It has been a solid 4 minutes since I invested in LMF and nothing has happenned. I was promised action! This shit is slower than craps.
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It is a SPAC so it will depend what company they aquire/merge with. It won’t go to 0 anytime soon they just got done raising money and are about to have the ticker symbol LMAO. Doesn’t get anymore bullish than that right now.
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It started with someone doing actual analysis realizing GME was way over shorted. People laughed at him for a year. Then more and more people realized he was right.
Yeah most now are jumping in just because of the hype. But the hype was backed by actual data.
The guest he had on was so dumb. People ITT know more than him.
What is a SPAC?
So what I hear you saying is, I should cash out my pension and buy LMAO?