Posted on 01/29/2021 8:03:20 AM PST by Navy Patriot
I'll trade you a decoder ring for 10 shares of GME stock.
At the end of the day you have $3 worth of transactions using the same one dollar. The transactions are 300% of the available currency.
Is this supposed to be a problem?
As of this post GME is at 340
And I see a lot of people who really don’t give a flaming sh!t. Who cares? The ones who are most upset are those who are finding themselves on the losing side of a game they’re used to rigging in their own favor. Screw them.
The point is, illegal, unethical or none of the above, the hedge funds took a huge risk, and are now getting their heads handed to them by a bunch of rookies and amateurs. Who doesn’t love a story like that?
It’s called “risk” for a reason.
T D Ameritrade deleted GME from the trading platform. Poof gone. Disappeared. At 12:45 pm EST. No sales no purchases.
I dont have a position, but if Indid Id be frozen out.
Whoa. This is serious.
They have the right to do that according yo their agreement I signed, but sheesh. This is serious
No sales? If you’re on TD Ameritrade and you have GME you can’t SELL it?
I dont know. I had GME on my watch list. It flat disappeared.
Theres no way. I would test to see if I can buy or sell, Im an observer for now. Buying at 330 is not my cup of tea. Lol. I dont want to throw away money
In defense of TD, the is is exactly what happens when government regulators force private industry to serve as the enforcement officials for private transactions.
That's a faulty syllogism and reflects nothing of this situation. What you presented is normal commerce. What is going on here is borrowing something that will have to be repaid back at whatever the price may be. That is something quite different. It is a wager that has infinite downside. And then you have external market forces trying to restrict trading to further complicate things.
Then do the process in reverse. The analogy is the same. You lend your friend who owns the coffee store $1. He lends his barber friend $1. The barber lends the pharmacist $1 to buy a new light bulb from you.
Also I just logged on TDAmer and GME stock is still up as it was this morning when I first logged on.
The analogy is NOT the same. If you loan a person a dollar then all they need to repay is a dollar. There is no risk of it being $100 to repay the loan.
#16 See Hollywood accounting.... : )
Or the movie “The Producers”.
They over promise investors and deliver nothing.
Others would be jailed as it is a ponzi scheme.
Keep in mind that the guy who has to pay $100 to repay a $1 loan has spent the last ten years repaying $1 loans for 50 cents (or less). So now he’s going to complain that he’s getting screwed?
Cry me a river.
GameStop chart. Click on the 1 month one. Zooooom!
https://www.google.com/finance/quote/GME:NYSE?sa=X&ved=2ahUKEwi3p8KU4MHuAhXZJzQIHRkEBPcQ3ecFMAB6BAgBEBE
I have to call bs on that. How do you sell shares that don’t exist? If you or I short a stock we are borrowing actual shares from an entity that owns them. So you are saying hedge funds don’t need to borrow shares? They can just pull a number out of the air?
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