It's crazy ridiculous what's happening now with GME and some other names. This phenomenon will definitely come under some scrutiny by the SEC etc. By the way I bought GME at $19. Took some off the table, but still holding about half my position.
Lucky you. It'll be interesting what the SEC can do here. But all these sites not allowing you to trade seems like an SEC rules violation as well. This is wild. I'm almost tempted to buy now based on reading the subreddit, but I don't know. Maybe I'll get in on the next ones... EXPR, AMC, BBBY have been talked about.
Yep. I actually joined the Wall Street Bets Reddit several months ago, where I got the down-low on GME. Granted there is a LOT of juvenile crap to wade through on that site before getting to the real nitty gritty. And you still have to do your own DD (due diligence) and verify news, info and research from other legit sources.
The funny thing is that up until last year, I worked for a Wall Street bank (laid off after 33 years there), specifically in a division that bankrolls hedge funds and helps them locate borrows on their shorts positions. So now I get to work the other side of the spectrum.
Oh nice! I currently work at an investment bank so it's always been tough getting into some of the WSB trades because of the many hoops I have to jump before I can buy and options/stocks. Have you gotten in on any of the other stocks WSB has been pumping? PLTR is doing pretty well post demo although I'm not sure how earnings will play out, NOK has been alright too.
Yes, while i was working at the bank there were a ton of trading restrictions that handcuffed me. As soon as i left, i felt free to invest as i pleased.
As far as the names that got a lot of mention at the wsb subreddit, besides GME, i also got BB and PLTR.
The thing that troubles me about NOK is that the company announced that they have no idea why their stock price has jumped. There’s simply no news to justify the movement.