In the case of Gamestop, the price was driven down by aggressive short selling so there was a big case at first for a value investment, that is what actually started it in summer last year.
Also, I am with you in the value and long term investing but it is well known at this point that a lot of people buying GME (including myself) are not in it for the money.
No. Those who overshort did that. 120-140% short positions to floated shares ratio. That is a reckless move I think, and what allowed the short squeeze opportunity to emerge. Blame the ones that cause it all not the ones that point the king is naked
Ontario Teachers pension fund gains 300M from wallstreetbets
Is that so? And is it always like that? The opposite never occurs?!
Edit: merged 3 posts into one
I would hope a typical pension fund wouldnât be investing in something like Citron, You want safe steady growth in a pension fund, not huge leveraged gambles
Anyone holding AMC/GME may want to take a look. CEO of tradezero giving his view on whatâs going on behind the scenes (I dont have an account with Tradezero and I do intend to stick with Freetrade) https://www.reddit.com/r/IAmA/comments/l81l3g/dan_pipitone_cofounder_of_tradezero_fought_our/
The hedgies got greedy and for once the retailers won the game. I have money in GME and AMC and after I sell those positions I wont be doing it again as the point will have been made. My money will be going straight back into the market to companies trying to make the world a better place.
I bought my one share at 20:59 Thursday; is this the last share ever bought with Freetrade, or do we think they will allow trading Monday?
Guess it depends if their FX provider will allow them. Iâm guessing theyâll either sort the issue or find someone who will. All I know is that freetrade will absolutely not want this to happen again
Bought at exactly the same time @ just below $200!
Thanks Ben
What do you make of Barclays and Currencycloud being names as the FX providers?
$197.44 to $1000!
Diamond hands
To infinity and beyond!
Its disappointing to hear but we donât really know the ins and out of why they chose to do so. Plus I wasnât involved in the mayhem so had so wasnât in a rush to trade. I can see why people feel let down, but they need to direct their disappoint at the actual culprits (who ever they end up being).
I really hope barclays/currencycloud didnât do this deliberately
Was very close to pulling the trigger on Friday, as I saw it climbing at 20:55.
In at $73 for 13.8 shares, so looking forward to seeing what next week brings!
Just seen this, IG are doing what T212 are doing and telling you what you can trade or not, ridiculous.
That AMA that was posted on here said that small US broker had 100x the volume, FT i bet was even more on Thursday. I wonder how much of this globally is just poor infrastructure and scalability at each stage.
Its crap ruling out certain stocks but its the only way to stay online I guess
The Reddit army and their brethren linked together in their cause and in their need, will defend to the death their native GME, aiding each other like good comrades to the utmost of their strength.
Even though large tracts of paper hands have fallen or may fall into the grip of the shorters and all the odious apparatus of Melvin rule, we shall not flag or fail.
We shall go on to the end, we shall fight on Robin Hood, we shall fight on eToro and Revolut, we shall fight with growing confidence and growing strength on margin calls, we shall defend our GME, whatever the cost may be.
We shall fight online, we shall fight on the television, we shall fight in our socially distanced bubbles, we shall fight forever more; we shall never surrender, and even if, which I do not for a moment believe, even think about becoming paper hands, then our Reddit brothers beyond the seas, armed with memes, would carry on the struggle, until, in Godâs good time, the new world, with all its power and might, steps forth to the rescue and the liberation of GME.
This is outrageous. Have they seen what has happened to Robin Hood?
Do IG think theyâre immune to such sentiment?!
Upping margin requirements can be justified given the volatility, but stopping people from bog-standard buying of shares is outrageous.
Anyone with an open mind can see the game is rigged. Freetrade are in the middle of it not their fault and although its wishful thinking it would be nice if options trading was removed and reasonable margins were given (not the 15x1 the hedgefunds get). Iâm still holding.
I would be holding but I couldnât buy any shares, not the best first experience with the app to be honest, especially after seeing the interview on sky, which is what prompted me to use the app in the first place.
Free trade knew in the morning and dropped the bomb on us all at exactly 230pm, what a farce.
Couldnât even get my cash back to use elsewhere.
They will apparently refund me for pro but that doesnât make up for the lost opportunity.
I think the Sky News appearance solidifies how short notice the pulling of their FX partner was. Why would they agree to the interview if they knew this was the outcome?
I still think everything Viktor said on that interview still stands and they will work to restore trading asap and continue to side with the retail investor
Can you tell me how you know that âFree trade knew in the morningâ What you have to remember is that the USA/NYSE is 5 hours behind??? So @Viktor was on sky tv about 1100. Freetrade only became aware when the NYSE opened at 1430 or shortly before it opened.
