Personal Finance and Investing

customerserviceguy

(25,187 posts)

16. Believe me

Thu Jan 28, 2021, 12:45 AM

Jan 2021

Pension accounts are not invested in GameStop. The stock has become a vehicle to do two things. One is to royally screw with the hedge fund managers who thought that shorting the stock was a sure way to bring in a few million. The other is that it has become a legal vehicle for a pyramid game, such as "Airplane" that was a big thing back in 1980. Get in while it's cheap, get out when and if you can.

With Robinhood, etc. there are ways to buy a fraction of a share, and drive up the price while risking less than most people will be putting down on Super Bowl pools for the next week or so. It's also about the joy of messing with the powers that be on Wall Street.

Dividend stocks are not going to be affected by this phenomenon.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

21 replies

= new reply since forum marked as read

Highlight:

The collective "pump and dump": GameStop and others [View all] DonaldsRump Jan 2021 OP

Overstock was one of the first Wellstone ruled Jan 2021 #1

I worry about pension accounts that rely on the stock market being raided by these schemes. TheRealNorth Jan 2021 #2

Completely DonaldsRump Jan 2021 #4

Believe me customerserviceguy Jan 2021 #16

Fascinating...and a bit terrifying... jmbar2 Jan 2021 #3

Having social media customerserviceguy Jan 2021 #17

it can be very difficult to dissect the reasons for stock movements unblock Jan 2021 #5

Could be. But Blackberry? And AMC? DonaldsRump Jan 2021 #6

amc recently announced they shored up their cash position and bankrupcty is off the table unblock Jan 2021 #7

AMC shot up because they secured almost a billion dollars in new financing calguy Jan 2021 #9

Exactly TheRealNorth Jan 2021 #11

AMC closed at $19.90 today calguy Jan 2021 #14

I bought AMC at $16 a couple years ago. bif Jan 2021 #20

It's not about their business models customerserviceguy Jan 2021 #18

This makes me really wonder about the prudence of options trading being a legitimate market KPN Jan 2021 #8

Can you explain what you mean? A HERETIC I AM Jan 2021 #12

Lol. What's clear to me is clear to me. Had a KPN Jan 2021 #13

Fair enough! A HERETIC I AM Jan 2021 #21

Agreed. Derivatives are the devil's playground RainCaster Jan 2021 #15

Pools and syndicates drove the 1920s market mania bucolic_frolic Jan 2021 #10

There is a large short interest in $AMC and people are hungry for more whttevrr Jan 2021 #19