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Old 01.02.2021, 19:51
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Re: Gamestop/Robinhood

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The thing about WSB is that I now have to check it to see if is causing the run up to any of my stocks. CCJ up 20% today.
The GPRO’s earnings were supposed to decline, which was suggested last week and today it is up 18%. WTF??? Quite welcome change though as I have been holding it for past 4 years and it’s about time to break even at least.
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  #82  
Old 01.02.2021, 20:56
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Re: Gamestop/Robinhood

GME has dropped by half since its high point last Thursday. High point was 469 and right now it's 233. I was reading the subreddit on Friday shortly before close and there were a lot of users pushing to buy more. One guy put a screen shot of 50K USD purchase (could be fake). If it was real, ouch.
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  #83  
Old 01.02.2021, 21:02
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Re: Gamestop/Robinhood

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GME has dropped by half since its high point last Thursday. High point was 469 and right now it's 233. I was reading the subreddit on Friday shortly before close and there were a lot of users pushing to buy more. One guy put a screen shot of 50K USD purchase (could be fake). If it was real, ouch.

We are in Switzerland, I'm sure there's are enough people here who wouldn't think much of a 50 k movement.

Now if it was some kid who took out a loan/remortgage/401Kout then yeah ouch indeed.


Then you have DFV who is down a good 25 million since last wednesday on his ~50K investment
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  #84  
Old 01.02.2021, 21:17
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Re: Gamestop/Robinhood

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GME has dropped by half since its high point last Thursday. High point was 469 and right now it's 233. I was reading the subreddit on Friday shortly before close and there were a lot of users pushing to buy more. One guy put a screen shot of 50K USD purchase (could be fake). If it was real, ouch.
The short position has reduced by 2/3, that fake order is so he can offload his existing holding without a loss, passing the loss to a greater fool. He may end up being the greater fool himself, 50k is peanuts based on daily trade.
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  #85  
Old 01.02.2021, 21:51
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Re: Gamestop/Robinhood

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We are in Switzerland, I'm sure there's are enough people here who wouldn't think much of a 50 k movement.

Now if it was some kid who took out a loan/remortgage/401Kout then yeah ouch indeed.


Then you have DFV who is down a good 25 million since last wednesday on his ~50K investment
Miracles will never cease. We are in Switzerland heavily invested. I saw today in “pump and dump” effort within few hours $XRP jumped from 0.45 to 0.75, which increased my portfolio by mere 3k. I am patient and will never sell too soon until hopefully see it worth few dollars per coin one day. Daily move of altcoins means +- few grants per day.
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  #86  
Old 01.02.2021, 22:23
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Re: Gamestop/Robinhood

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Miracles will never cease. We are in Switzerland heavily invested. I saw today in “pump and dump” effort within few hours $XRP jumped from 0.45 to 0.75, which increased my portfolio by mere 3k. I am patient and will never sell too soon until hopefully see it worth few dollars per coin one day. Daily move of altcoins means +- few grants per day.
Do you think it will ever reach this price after SEC charged Ripple? Coinbase and other exchanges are delisting XRP. I wanted to place a 1000$ trade on XRP once it drops back to <0.250 but now I am hesitant.

Last edited by trixxiee; 01.02.2021 at 22:37.
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  #87  
Old 01.02.2021, 22:43
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Re: Gamestop/Robinhood

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Do you think it will ever reach this price after SEC charged Ripple? Coinbase and other exchanges are delisting XRP. I wanted to place a 1000$ trade on XRP once it drops back to <0.250 but now I am hesitant.
The SEC has quarrel with Ripple not with XRP. The XRP can further trade without Ripple.

https://www.coindesk.com/what-is-ripple-what-is-xrp
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  #88  
Old 02.02.2021, 11:22
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Re: Gamestop/Robinhood

I don't claim to fully understand what's happening but just a few days ago the CEO or Robinhood said no liquidity issues. First think he did was raise 3.4 billion USD in less than a week https://www.wsj.com/articles/robinho...rs-11612197680

What happened? Option 1: An incompetent CEO that truly ignored the company needed that much fresh capital to survive. Option 2: a big liar whose actions reveal the lies in less than a week. Either option is far from good. If anyone still has some funds in there, cash now.
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  #89  
Old 02.02.2021, 11:40
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Re: Gamestop/Robinhood

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I don't claim to fully understand what's happening but just a few days ago the CEO or Robinhood said no liquidity issues. First think he did was raise 3.4 billion USD in less than a week https://www.wsj.com/articles/robinho...rs-11612197680

What happened? Option 1: An incompetent CEO that truly ignored the company needed that much fresh capital to survive. Option 2: a big liar whose actions reveal the lies in less than a week. Either option is far from good. If anyone still has some funds in there, cash now.

As far as I understand Robinhood is -at least partially- a Market Maker, that is: You play against them and not against the "true casino" of stock exchange.
I suspect that Robinhood never forwarded parts of GME purchases to real market and so it was badly stung by rapid rise in share price because that profit is now owed by Robinhood to shareholders that wish to sell.


I am not trading stocks but in the world of Forex MM are a stinking plague to avoid and only true ECN brokers should be used.
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  #90  
Old 02.02.2021, 12:54
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Re: Gamestop/Robinhood

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What happened? Option 1: An incompetent CEO that truly ignored the company needed that much fresh capital to survive. Option 2: a big liar whose actions reveal the lies in less than a week. Either option is far from good. If anyone still has some funds in there, cash now.
Plus zero words of apology to customers or accepting of having made any mistake / bad planning on their end.
Just "it's what everyone does; we did what was the only option". (which is not necessarily untrue, but some customer satisfaction should be on their mind)
Guy reminds me of Loki.
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  #91  
Old 02.02.2021, 13:48
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Re: Gamestop/Robinhood

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I don't claim to fully understand what's happening but just a few days ago the CEO or Robinhood said no liquidity issues. First think he did was raise 3.4 billion USD in less than a week https://www.wsj.com/articles/robinho...rs-11612197680

What happened? Option 1: An incompetent CEO that truly ignored the company needed that much fresh capital to survive. Option 2: a big liar whose actions reveal the lies in less than a week. Either option is far from good. If anyone still has some funds in there, cash now.
Perhaps options 2?
https://www.youtube.com/watch?v=6fs_lyGn4YA
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  #92  
Old 02.02.2021, 18:11
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Re: Gamestop/Robinhood

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GME has dropped by half since its high point last Thursday. High point was 469 and right now it's 233. I was reading the subreddit on Friday shortly before close and there were a lot of users pushing to buy more. One guy put a screen shot of 50K USD purchase (could be fake). If it was real, ouch.
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The short position has reduced by 2/3, that fake order is so he can offload his existing holding without a loss, passing the loss to a greater fool. He may end up being the greater fool himself, 50k is peanuts based on daily trade.
Looks like I was right, the price has fallen another 50% plus trading @ $103.50.
Just a classic pump & dump.
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  #93  
Old 02.02.2021, 19:02
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Re: Gamestop/Robinhood

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Plus zero words of apology to customers or accepting of having made any mistake / bad planning on their end.
Of course not, that would be moronic in epic proportions.

Whenever a stock is subject to one or more unusual moves there's going to be a gazillion lawsuits filed. An apology by RH, much more so adminssion of guilt, would prove the lawsuits right and could easily bankrupt RH.

As for GME:
Someone's going to be left holding the bag. And it won't be the big boys, the hedge funds. Quite the contrary, we may soon see less than $4 for GME. Stay tuned.
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  #94  
Old 02.02.2021, 19:06
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Re: Gamestop/Robinhood

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Looks like I was right, the price has fallen another 50% plus trading @ $103.50.
Just a classic pump & dump.
This is all new and interesting to me, so apologies for any dumb questions.

Given that drop, is now the time for hedge funds to short it again?
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  #95  
Old 02.02.2021, 19:09
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Re: Gamestop/Robinhood

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Looks like I was right, the price has fallen another 50% plus trading @ $103.50.
Just a classic pump & dump.
There's no way it could have sustained that price. If nothing else, the company should issue shares like crazy to capitalize on the free money.
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Old 02.02.2021, 19:16
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Re: Gamestop/Robinhood

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Old 02.02.2021, 19:25
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Re: Gamestop/Robinhood

eToro “mistakenly” put a 20% stop loss on one of my GME positions yesterday. It triggered, I noticed, removed them from the other four positions where they had magically appeared and sent their customer service team a fizzer. Got the 20% refunded today, along with everyone else I believe, and then used the funds to bring my average down and bought the dip today
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Old 02.02.2021, 19:48
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Re: Gamestop/Robinhood

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This is all new and interesting to me, so apologies for any dumb questions.

Given that drop, is now the time for hedge funds to short it again?
They probably won't bother, although it's never worth $100.
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eToro “mistakenly” put a 20% stop loss on one of my GME positions yesterday. It triggered, I noticed, removed them from the other four positions where they had magically appeared and sent their customer service team a fizzer. Got the 20% refunded today, along with everyone else I believe, and then used the funds to bring my average down and bought the dip today
You actually believe you will get your money back, at a date in the future?
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  #99  
Old 02.02.2021, 21:40
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Re: Gamestop/Robinhood

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one of my GME positions
How do you have more than one position at the same broker?
Are you talking options? With that kind of implied volatility?
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  #100  
Old 02.02.2021, 22:22
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Re: Gamestop/Robinhood

I've just seen that Mark Cuban has an AMA on WSB and 5 hours ago commented that if he owned GME (he doesn't) he would hold!

Sounds very dodgy to me.
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