@Copper_pipe cheers for the heads up on GameStop auld stock
Worth around €30 p/s 20 years ago. 7 cent now
Ameritrade tells clients about GameStop and AMC restrictions
I’d be very careful of that, there’s lads holding providence that’ll bite your hand off if you want to take it off them
The beauty of game stop is it was heavily short sold meaning as the masses bought them up the fellas short holding them were forced to buy them back further ramping up the market. When those same masses look to sell they can only hope the old bigger fool exists to take them off them. It’s a classic pyramid. And you don’t want to be the lad on the top
Nice to be the lad at the bottom mind
My uncle is all in on Providence and AIB. His pension will be gone before he’s 70.
Reddit-Fueled Traders Trigger Volatility Halts Across Market (1)
2021-01-27 16:48:23.740 GMT
By Bailey Lipschultz
(Bloomberg) – About 44 circuit-breaker halts were
triggered in the first two hours of trading Wednesday amid the
rapid ascension of amateur investors armed with Robinhood and
their favorite social media platforms.
From cult-favorite GameStop Corp. to stereo headphone and
loudspeaker retailer Koss Corp., trading volume soared as gains
and losses fluctuated by the minute.
Day traders have taken to online forums like Reddit,
posting bullish touts to encourage others to join an epic retail
frenzy that has tested the mettle of short sellers. Reddit is
also routinely used to drive up penny stocks that, unlike
GameStop, have ceased publishing financial results and don’t
trade on regulated exchanges.
Volatility halts are relatively common for small stocks
that are surging or tumbling and are used by exchanges to help
smooth rapid movement in either direction and prevent flash
crashes. They are often done to force traders to digest the news
and recalibrate their trades over the typical five-minute pause.
Online brokerages including Robinhood Markets and Charles
Schwab Corp. were hit again Wednesday by service disruptions as
traders were transfixed by wild swings in shares of GameStop
Corp. and other heavily shorted stocks. TD Ameritrade Holding
Corp., Morgan Stanley’s E*Trade and Fidelity were also affected,
according to Downdetector.com, which tracks user complaints.
GameStop shares, which soared as much as 157% Wednesday,
were halted at least twice, while movie theater company AMC
Entertainment Holdings Inc. triggered four halts as it more than
quadrupled on volume that was roughly 13 times the three-month
average.
To contact the reporter on this story:
Bailey Lipschultz in New York at blipschultz@bloomberg.net
To contact the editors responsible for this story:
Divya Balji at dbalji1@bloomberg.net
Kristine Owram
To view this story in Bloomberg click here:
I have just lumped all my GameStop gains on Nokia
Nokia is up 30% in the last week
Boom! Capitalism rocks
Ah lovely
They’ve been penny stocks for decades under one guise or another
Unreal
“There’s so much going in right now. Accusations of the subreddit being brigades by bots try to persuade investors to sell up and go all in on (yolo) their money into something else as well as accusations of blind shorting as apparently the combined short position accounts for like 130% of the shares in existence for GME”
4chan started Q and they almost ended up taking down the US Govt
Reddit has taken down the Wolves of Wall St and now they’re all millionaires
TFKs top thread right now is whether soccer should be called football
We are getting there lads
Blackberry is where it’s at