GME and AMC stock - reddit

Is anyone else following this?
or better yet, anyone else also involved in this?

I bought 1 share of Gamestop at $320 this morning.
and 10 shares of AMC at $7.

I was told to expect substantial gains by friday. (not holding my breath) but I do like the idea of taking down hedge funds.

Im not a financial advisor, I have very little experience in investing. Do not take anything I say as any sort of advice.
I have an advisor that handles everything based on my risk tolerances.
However, im doing this on my own just to see... and to possibly be part of something that will probably never happen again lol.

Anyone else dipping their toes in on this to see what happens?
Im not sure if I can link to the reddit thread, so for anyone unaware, here's an article about what's taking place.
link to article

a reply to: Macenroe82

FauxMulder has a good thread from earlier on the subject.

a reply to: Macenroe82

Existing thread here.

AMC is supposed to be next and there's talk of something happening with silver.

a reply to: Macenroe82

not sure how you got AMC at 7, it looks like today's low was about 12. But if you did, then you are doing well with it.

I'm following.

Looks like war by other means. Sometimes hedge funds need to be bankrupted.

I just grabbed 8 shares of AMC. I hope it does something exciting.

originally posted by: network dude
I just grabbed 8 shares of AMC. I hope it does something exciting.

They announced last week they just got a cash infusion. I didn't see if it was from private equity, the Chinese government or a combo of both.

a reply to: AugustusMasonicus

I like the super cheap stocks. I usually don't buy the expensive ones unless I'm just ignoring the market for a bit.

originally posted by: Ksihkehe
a reply to: Macenroe82

there's talk of something happening with silver.

Any links...or hints?

originally posted by: network dude
I like the super cheap stocks. I usually don't buy the expensive ones unless I'm just ignoring the market for a bit.

I suspect something will happen with AMC due to the infusion plus the buzz. I don't think it will be the same result as Game Stop so if I personally had AMC I wouldn't hold out for hundreds a share owing to how they are shutting down trading on the former stock.

No, sorry, but i sent a message to the Proud boy guy thread, PM...not sure he'll see it.

And I'm no sympathizer...he probably just left.

Nokia invoked as well

a reply to: network dude

Sorry I wasn't clear, I bought GME this morning.

I bought AMC last night.
As mentioned, I have very little experience in actually doing this.

I used the Wealthsimple app, it gave me the price and I hit buy.
As to the actual how's and whys... I have no idea. lol

originally posted by: projectvxn
Sometimes hedge funds need to be bankrupted.

The SEC and the exchanges will not allow this to continue for too much longer. They've already hit the breakers several times today. Calls for regulatory intervention too.

In the end, late money will be holding the bag. So if you've jumped in, made some money, I'd consider getting out now.

a reply to: loam

Case and point:

N asdaq CEO Suggests Halt to Trading to Allow Big Investors to ‘Recalibrate Their Positions’ to Combat Reddit Users

Nasdaq CEO Adena Friedman suggested Wednesday that her exchange could halt trading activity for stocks to enable investors to “recalibrate” in the event they were targeted by internet users.

She made the comment in a Morning interview with CNBC’s Joe Kernen, speaking in reference to price surges inspired by Reddit users. Members of the website’s “WallStreetBets” forum caused stock prices to surge to obscene heights this week for companies including GameStop and AMC Theatres.

“I think that, in general, when we evaluate how we would manage through a situation where you see a significant run-up in a stock not based on news, not based on fundamentals — what we do is we do have technology that evaluates social media chatter. If we see a significant rise in the chatter on social media channels … we also match that up against unusual trading activity, [and] potentially halt that stock to allow ourselves to investigate the situation, to be able to engage with the company, and to give investors a chance to recalibrate their positions.”

That's a pretty remarkable statement if you think about it.

a reply to: loam

I gambled on NOKIA and settled for a small loss (le$$ than $25) when the bearish candlesticks came in hard.

Probably should have just held on but rather lose $25 than lose the whole lot I was gambling with

(yes, this is gambling not "investing")

I trimmed my position in Uranium today which more than made up for my impulsive gamble

originally posted by: loam

originally posted by: projectvxn
Sometimes hedge funds need to be bankrupted.

The SEC and the exchanges will not allow this to continue for too much longer. They've already hit the breakers several times today. Calls for regulatory intervention too.

In the end, late money will be holding the bag. So if you've jumped in, made some money, I'd consider getting out now.

I'm following but not getting involved.

My money is in crypto and DeFi.

Stocks is just where the fed dumps all the inflation when they can't export it.

originally posted by: projectvxn

originally posted by: loam

originally posted by: projectvxn
Sometimes hedge funds need to be bankrupted.

The SEC and the exchanges will not allow this to continue for too much longer. They've already hit the breakers several times today. Calls for regulatory intervention too.

In the end, late money will be holding the bag. So if you've jumped in, made some money, I'd consider getting out now.

I'm following but not getting involved.

My money is in crypto and DeFi.

Stocks is just where the fed dumps all the inflation when they can't export it.

Hardcore, no disrepect.

I'm not sure it matters. I just tried to talk to proud boy and...zero. Deleted.

originally posted by: stosh64

originally posted by: Ksihkehe
a reply to: Macenroe82

there's talk of something happening with silver.

Any links...or hints?

I didn't take note where I was when I saw that. It may have been on one of the discords I'm in. I'll PM if I can find it.

I'd stay far away from any coordinated effort on that market. The pockets on the short sellers of something like GME are a drop in the bucket compared to something like the silver market. JP Morgan got hit with almost 1 billion in fines for silver manipulation and if that was their fine you can bet they made magnitudes more than that.

a reply to: projectvxn

The more I think about that NASDAQ statement, the more I think we are near the end of this runup in the markets. Big correction incoming, imo.

Was never an *if*, but *when*. When may be this week.

Fed was gloomy this am.