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Philthy
Jan 28, 2003

Pillbug
that dude on reddit turned 50k into 50m. he sold 25% already and has millions.

lmao gamestop

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Philthy
Jan 28, 2003

Pillbug
the best thing gamestop could do with the influx of money is to use it to buy up other companies that dont have a dead end business model and lots and lots and lots of coke

Philthy
Jan 28, 2003

Pillbug

Snazzy Frocks posted:

What happens to people who were using robinhood to manage their gamestop holdings? Do they have to make phone calls now?

This is what I'm wondering, doesn't this open up Robinhood to liability now for people who made gains/losses on those stocks? Aren't their specific laws to stop stuff like this? Manipulation?

Philthy
Jan 28, 2003

Pillbug

Klyith posted:

buying a gamestop share at $350: I put $350 on the table. if the price goes back to $20, I have $20

buying a gamestop option with 25% margin at $350: I put $90 on the table. if the price goes down to ~$260, I have $0
if the price goes down to $20, I have $0 and someone owes $240
that someone is technically me, but if I don't have $240 it ends up being robinhood

So.. what are the odds this becomes a corporate pyramid scheme to cover losses.

Philthy
Jan 28, 2003

Pillbug
Theoretically, could that dude that spent $50k and made $50m just keep selling and reinvesting to keep the price going? He already sold 25% supposedly for tens of millions, could he simply take those gains and reinvest back in, then sell another 25% that was bought lower, and then reinvest.. etc.

Philthy
Jan 28, 2003

Pillbug

These lawsuits are gunna be some lols. Ted Cruz and AOC both want investigations into Robinhood which is.. insanity.

Would not want to be a Robinhood employee right now.

Philthy
Jan 28, 2003

Pillbug
AMC at least has light at the end of the tunnel with the vaccine. The economy is likely to surge like gangbusters once people are comfortable integrating again. Movies are one thing a LOT of people miss. No one wants to sit at home to watch this poo poo anymore. It's like prison in here.

Philthy
Jan 28, 2003

Pillbug

StarkRavingMad posted:

https://www.bloomberg.com/news/articles/2021-01-28/robinhood-customers-sue-over-removal-of-gamestop

Already two class action lawsuits filed. I have doubts about how successful they will be, mostly because Robinhood's TOS says they can freeze trading whenever they want for any reason, and also damages are going to be tough to prove (especially with GME stock dropping right now).

Possibly, but a TOS will be overruled by market regulations. GME stock dropping is only going to be more proof, it wouldn't be dropping if they could buy.

Philthy
Jan 28, 2003

Pillbug
I wonder how hard it'll be to get my $3 they gave me to sign up with.

Philthy
Jan 28, 2003

Pillbug
holy poo poo

Philthy
Jan 28, 2003

Pillbug
so are the the billionaires now dollaraires

will they have tip jars to make it through tomorrow

Philthy
Jan 28, 2003

Pillbug
they got a ps5 in stock and sold it

Philthy
Jan 28, 2003

Pillbug
The guy on AOCs stream forgot he was a libertarian hoping this brings focus for regulation over and over and then said well not regulation i hate regulation i just hope they do something lmaooo

Philthy
Jan 28, 2003

Pillbug
This is still too complicated for average joe to understand so nothing is going to come from it. Congrats to those who turned into millionaires tho.

Philthy
Jan 28, 2003

Pillbug
okay i puit my life savings into circuit city now whjat

Philthy
Jan 28, 2003

Pillbug

Dear Watson posted:

HOLD THE LINE

DO SOMETHING

Philthy
Jan 28, 2003

Pillbug

Lister posted:

AMC has the bonus of potential to bounce back when people are confident to go back to theaters. I don't think that one is an outlandish investment at its current price. Carnival is in the same boat but literally no one is memeing about it so it's still struggling.

If AMC makes it to the point of most people being vaccinated and there isn't some other stupid strain that hits, they would most definitely bounce back. Pretty much everything should begin taking in profits compared to the previous year at the very least. Vacation based industries would probably be the largest boon I'd imagine. Vegas will likely be bonkers once poo poo gets going and people have some of that stimulus money left.

Philthy
Jan 28, 2003

Pillbug

Arms_Akimbo posted:

Because bitcoin uses the electrical resources of a country the size of Ireland to create a financial cargo cult that just repeats the same old mistakes but in a more cartoon fashion. It is one of the biggest wastes of limited resources to play pretend banker. Also, the whole facilitates child porn and murder for hire thing.

I always thought it was because no where could ever let you "cash" out so you were essentially stuck buying:

1. a hit on someone
2. illegal firearms
3. access to child abuse sites
4. illegal drugs
5. stolen credit card data

and thats about all you can "buy"

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Philthy
Jan 28, 2003

Pillbug

wyoak posted:

GameStop’s finance department is probably going through hell right now

"nobody touch nuthen!"

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