View single post by Franchise
 Posted: Fri Jan 29th, 2021 12:29 am
PM Quote Reply Full Topic
Franchise
Low key big hog


Joined: Mon Oct 15th, 2007
Location: Cincy, Ohio
Posts: 5027
Status: 
Offline
Mana: 
Principal_Raditch wrote: WongLee wrote: Can one of you hillbilly retards explain this to me so that even I can understand it? Reddit is all aglow that the "little guy" is crushing the evil Hedge Fund managers all of whom will be resorting to giving $10 blowjobs in the meatpacking district in order to survive.

Basically this was a shitass stock. Was hovering @ $4-6 a share last year, then started moving up to the teens in the late fall. So a bunch of their shares were shorted by a Hedgefund, probably banking on it dropping back down to the under $5 range again. In effect they were playing the "Don't Pass" line on a craps table. Some nerds on Reddit decided to counteract this shit and started buyin teh stock. Last Friday it was trading for @ $17/share. All of a sudden monday it's up to $45, tuesday to @ 95, then yesterday into the high $200's. At open to day it skyrocketed to over $450/share, before a huge selloff and closed at just under $200. After hours though it was up another $100 to close to $300. 

All I know is that there's some old Granny who bought 1000 shares of this shit back in August for $5 that's now sitting on 200k.




Was today’s sell off on the up and up? I saw multiple reports of people saying their digital provider wouldn’t allow them to buy any of the stocks causing these issues. 



I just heard the current number is a loss of approx 70 billion between 500 hedge fund companies with one looking at a near billion dollar loss on its own. 



____________________
"Beginning this week, Nitro is going head-to-head with Thunder in Australia" - The Wrestling Observer Newsletter: January 22, 2001