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Gamestop destroys Wall St


phil bottle

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Interesting battle being played out right now, initially on Wall St but now other markets too. Joe public investors using Reddit versus the hedge funds. I've always seen the whole business as glorified gambling, no surprise to some I'm sure😁, but this is a very unexpected turn of affairs.

I'll post a link to the BBC article and add a YT vid where a guy does a fairly decent job of explaining what's going on from the non hedge fund side.

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WWW.BBC.CO.UK

Shares in a games company have soared more than 300% - the result of a fight between private and professional...

 

jeffersonclasswar.jpg

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Love me a bit of Louis...he can repair almost any Apple product, much to their annoyance, is an advocate for The Right To Repair and abhors New York real estate prices! 🤣

fa91d1c7-2525-4709-a13b-ae6fabba557e.jpg


Thanks to Capn_Underpants for the artwork

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1 minute ago, Dan94 said:

Did anyone manage to get on? My mate at work had 2 friends who put together £7k and now have around £94k between them 😄 

 

What, actual real money? You shitting me?! Bloody hell, if I could actually understand it more I might've took an interest but thats crazy.

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Just now, GazzaGarratt said:

 

What, actual real money? You shitting me?! Bloody hell, if I could actually understand it more I might've took an interest but thats crazy.

Yeah, actual money haha. Last Friday you could buy for $42, you could have sold yesterday at a high of $492

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7 minutes ago, Dan94 said:

Yeah, actual money haha. Last Friday you could buy for $42, you could have sold yesterday at a high of $492

 

Thats insane. Have they cashed out then? I'm not a huge stocks and share gambling type of guy. I used to be savings advisor based on cash accounts and whilst I know you can always make more money in S&S, its always too much risk when i've seen so many lose money. If you have a random 7k spare that you're willing to lose then i'd say go for it but I don't have the balls to throw away our life savings (which ain't as much as that!) on a hope they'll sell for more. At some point in this next 7 days I expect it all to go tits up.

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26 minutes ago, GazzaGarratt said:

 

Thats insane. Have they cashed out then? I'm not a huge stocks and share gambling type of guy. I used to be savings advisor based on cash accounts and whilst I know you can always make more money in S&S, its always too much risk when i've seen so many lose money. If you have a random 7k spare that you're willing to lose then i'd say go for it but I don't have the balls to throw away our life savings (which ain't as much as that!) on a hope they'll sell for more. At some point in this next 7 days I expect it all to go tits up.

Yeah I think they've sold now. I'd be the same, no point risking it, just sell when you've made a hefty amount.

 

There's another guy who put in $60k at the lowest point and now has $200m lol. As soon as people like him start selling, it'll crash the market back down again.

 

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