Badmovies.org Forum

So....

I had been watching a stock ticker name $AMC for a while. Movie theaters have done worse than even restaurants during covid. You can't take-out a movie. The stocks were beaten down and bankruptcy was DEFINITELY on the table. Then...the vaccine(s) came out. I said to myself "it's time to make this trade. it doesn't seem like it now, but we're not in the covid phase anymore, we're in the recovery phase and people are gonna go to the movies." I bought 1000 shares at 2 $ a share, pretty sure I was going to lose all my money but as warren Buffet said "buy when there's blood in the water"

The stock went up a little bit here and there but the vaccine rollout was slow and in general done in an inefficient way. I was beginning to think my trade was doomed. and then...

All this stuff you're reading about happened. At first it was Gamestop, then I was shocked to see $AMC become part of this cause celebre. Earlier this week it went up quite a bit then doubled in the after hours (4 to 6pm) trading. I didn't know what to do. Was it dishonest to make money this way? Am I going to lose my free MA health insurance because I made too much money? I nervously sold half my shares at 19.00 a share, a massive profit

By the next day I was over it, so to speak, and wanted to get out but then I noticed weird rules being enforced. You couldn't buy GME shares but you could sell them.

 I did not appreciate this tactic. They were basically saying "yeah were gonna drive this stock down, so you might wanna get out now". No, you don't do that. This is the people's market. These are MY shares you don't coerce me into selling them. Well, I still have 500 shares. I will hold them till they go to zero it's not about money now. I've made money already.





earlier today I saw an SEC official comparing these events to the Jan 6 riots. Here I think is a better analogy


Imagine if, instead of rioting or even protesting, Trump supporters (or whoever) went to Washington DC and spent a ton of money in restaurants and stores, then people who had bet on those entities failing said "no fair, those stores are doomed, we properly bet against them". Would you give a s**t? I certainly wouldn't.



I get criticism that this is all greed and gimmicks and MAGA and so forth. and that people who get in late will lose money rather than make it and yadda yadda.

The problem is: it's just people buying stocks. How can you outlaw that? It's a MARKET. If I want to eat at a crappy restaurant am I allowed to do that?

I've been watching what's been happening on the stock market recently with interest. As long as what people are doing is legal I don't see why it should be stopped, although I don't like to see pension funds taking a hit.

Is this accurate?

Error 404 (Not Found)!!1 (http://www.youtube.com/watch?v=sH_F7mQIM0M#)

It's market manipulation, pump n' dump, probably legal but outside the "spirit of the rules." Companies' stocks are supposed to go up because they are solid businesses and good investments, not because a bunch of people collude to artificially raise the price.

That said, I'm not sympathetic with the hedge funds or unsympathetic with the reddit folks. They found a bug in the system and exploited in cleverly, good for them (and you, lester). There's a David vs. Goliath element to the story that makes it appealing. The market will find a way to react and regulate this in the future, it's pretty clear that this "model" is unsustainable.

That said, while Game Stop and AMC were rocketing up, everything else was solidly down. I lost a lot of money last week. Hell, I might just short the S&P next week for kicks.

That YouTube is pretty good explanation, as far as I know (I'm no market expert).

I can't make heads or tails of this stuff, but it sounds like the Reddit guys turned the tables on the bigwigs.
Hooray for them!

(https://i.imgur.com/0fAGOjA.gif) (https://lunapic.com)

Slight oversimplification, but they pretty much did to the big investors what they've been doing to other people since markets began and the investors don't like it.

So- now the big shots are p**sed at the peons for f**king them out of money that said bigshots had been doing all they're professional lives .
Big shots are p**sed? I'm crying them a f**king river.

Or something like that!


(https://i.imgur.com/7x28dKT.gif) (https://lunapic.com)

I really have not a clue to how the stock exchange works.
For one- I never had left over money. Two- I hate math.

Rev -  Is shorting AMC into the dirt so all the movie theaters close in the "spirit" of the free market?

If this had happened with toys r Us it might still be there.

its ultimately a kind of sentimental protectionism. like when the govt bailed out Harley Davidson so people could keep not buying their loud as hell motorcycles


(https://pbs.twimg.com/media/Es_5TOGW8AQeKBh?format=jpg&name=900x900)

I'm not a big fan of shorting anything and I'm not upset when short-sellers get burnt. (My reaction isn't on that graph. My reaction is a shrug.)

 :bouncegiggle: :lookingup: :bouncegiggle:

Funny cartoon about this. Very short:

Error 404 (Not Found)!!1 (http://www.youtube.com/watch?v=DoQ_1RuNiJo#)

 :wink:

I know AMC was able to raise funds due to the stock raise, they've allayed bankruptcy for 6+ months now at least.  So hopefully they can stick around long enough to recover as COVID declines.  So at least something good might come of this.  Oh, though I'm glad you made some money lester.   :thumbup:

Rev was right it was a pump and dump and yet...the gov and everyone else got involved not to help "the people" but to help hedge funds who were betting against American companies. it's history now

For once I agree with Lester.  :buggedout:

You got an unexpected windfall, and you still have half your shares that can still go up for the reasons you originally bought them. If I was in that situation, I'd be thrilled. What are you going to do with the money?

I have no idea. give some away then maybe invest in something else with the houses money. or pay my taxes!

Another article on this, from NBC via MSN: https://www.msn.com/en-us/news/politics/the-gamestop-story-isn-t-a-populist-fairy-tale/ar-BB1do8Gu?ocid=msedgntp (https://www.msn.com/en-us/news/politics/the-gamestop-story-isn-t-a-populist-fairy-tale/ar-BB1do8Gu?ocid=msedgntp)

States worries that traders may use forums to give false info about stocks. Points out that no one knows who exactly benefited from this, etc.

This has been happening since the stock market was invented. Not on forums, of course. But gambling with peoples lives. f**k Wall Street.

https://www.cnn.com/2021/01/31/investing/melvin-capital-reddit-gamestop/index.html (https://www.cnn.com/2021/01/31/investing/melvin-capital-reddit-gamestop/index.html)

These guys thought they could sit back and bet on this outmoded company going bankrupt. It was a sure thing till it wasn't. they got hustled for a few bil