Stock Market Talk

Soo... what's everyone's thoughts on the Reddit stocks? I've largely stayed away from them. Seems like a huge gamble.

Just made a good bit in $RKT and $CLDR the last week or so.
 
Carp said:
Soo... what's everyone's thoughts on the Reddit stocks? I've largely stayed away from them. Seems like a huge gamble.

Just made a good bit in $RKT and $CLDR the last week or so.
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The whole thing is pretty wild. I made a decent amount of money on a bunch of AMC stock that I bought in January (after GME fomo) at $8/share and sold last week, but that felt more like winning a hand of blackjack than it did like making a prudent stock play. And because of that I wasn't willing to put some huge sum of money into it.

Making money on a stock in what I view as a dying industry just because it is a meme feels...very 2021.

IMO the unfortunate part about this is that the Reddit crowd views it as a way to get back at the big guys but ultimately I'm not sure that is true. The reality is that most people who buy into these meme stocks will be left holding the bag as they preach diamond hands and the stock inevitably comes back to earth. They put in and lose money they can't afford to lose and the hedge funds lose a couple of billion that they can bounce right back from.
 
McCann'sCans said:
The whole thing is pretty wild. I made a decent amount of money on a bunch of AMC stock that I bought in January (after GME fomo) at $8/share and sold last week, but that felt more like winning a hand of blackjack than it did like making a prudent stock play. And because of that I wasn't willing to put some huge sum of money into it.

Making money on a stock in what I view as a dying industry just because it is a meme feels...very 2021.

IMO the unfortunate part about this is that the Reddit crowd views it as a way to get back at the big guys but ultimately I'm not sure that is true. The reality is that most people who buy into these meme stocks will be left holding the bag as they preach diamond hands and the stock inevitably comes back to earth. They put in and lose money they can't afford to lose and the hedge funds lose a couple of billion that they can bounce right back from.
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My thoughts exactly. Now maybe you catch a couple firms being sloppy and leveraging way too much. But overall, you aren't going to beat Wall Street. A stocks fundamentals will turn out in the end. And AMC and GME have some pretty bad fundamentals. AMC as a company maybe gets back on track as theaters reopen, but they have a long way to go. They were pushing bankruptcy almost a year ago.
 
Carp said:
My thoughts exactly. Now maybe you catch a couple firms being sloppy and leveraging way too much. But overall, you aren't going to beat Wall Street. A stocks fundamentals will turn out in the end. And AMC and GME have some pretty bad fundamentals. AMC as a company maybe gets back on track as theaters reopen, but they have a long way to go. They were pushing bankruptcy almost a year ago.
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There are definitely people who will make some money on these meme stocks- I know a couple people who have made quite a bit. But I keep reading stories of people who put their life savings into GME, have turned 100,000 into $2.5m, and yet have decided they are going to hold forever because that is what the meme tells them to do. It is going to be sad seeing those stories in the coming years as they end up being the big losers instead of the big winners. As well as the stories of all the people who decided to jump in on the fun when GME hit $300 and became immediate losers.
 
You guys into anything new? I’m trying to figure out how to play EV and batteries for five plus years down the road. this will be a big market in 15-20 years
 
Amazon huge miss. Down 13% ($350)
Apple record quarter, beats guidance. Down $7



Wtf. This **** is so rigged
 
Krgrecw said:
Amazon huge miss. Down 13% ($350)
Apple record quarter, beats guidance. Down $7



Wtf. This **** is so rigged
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The market has been rigged for years - rigged to go up.

Zero interest rates and massive money infusion from the fed had artificiality pumped the assets

The fed has no tools left
 
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