Community Chat

[Nancy Drew]

Anyone following this story? Interesting to say the least. I don't think this is considered political. My husband had to explain it very slow to me but I do understand it. 

[MG Chris]

Pretty interesting isn't it? My daughter explained it to me. She bought in and made $24,000 in two days. She sold her stock on Wednesday. My husband isn't a risk taker and he pressured her to sell. She was willing to ride it out. I am pretty proud of her.

[Jordan2]

@Nancy Drew I don't understand it fully, but of course my Mets new owner Steve Cohen's name is involved. I swear, the Mets can't get out of their own way, it's always something.

[gardenman]

I find it hilarious. The big hedge funds have pretty much gotten away with murdering countless companies through the years by forcing their stock price down and making it impossible for the company to survive. They tried to do it with Gamestop and AMC, but the Reddit guys/gals said no. They bought the stocks, forcing the price to climb and the hedge funds that had gambled on the stock prices falling (not really a gamble since they can largely drive the market, or could until the Reddit folks came along) suddenly found themselves hundreds of millions and even a billion-plus dollars in the hole. 

[SXMGirl]

@Nancy Drew  I have not read the article, but years ago, when I was a business teacher, one of our daily assignments was following the stock market.  I taught 9th grade and spent much of the year on finance.  Students were "given" so much money to "buy" stocks, and I gave them a few to follow, but then I encouraged them to look at the stocks of businesses that they used.  I had never heard of Game Stop and I was skeptical, but quite a few "invested" in the company and they did really did well.  

[Greeneyedlady21]

My simple way of viewing it is the little guy winning. And of course the big guys don't like that.

I just wish I had been able to make a nice chunk of change.

[CelticCrafter]

When it comes to our finances and investments I consider myself to be pretty savvy.  

My husband tried to explain this whole thing and hedge funds to me twice yesterday and I still don't understand it.   I finally said to him to forget it because I really don't care enough to waste any more time on it!

I think it's like the bitcoin thing that I will never be able to figure out or understand.

[Nancy Drew]

---

@gardenman wrote:

I find it hilarious. The big hedge funds have pretty much gotten away with murdering countless companies through the years by forcing their stock price down and making it impossible for the company to survive. They tried to do it with Gamestop and AMC, but the Reddit guys/gals said no. They bought the stocks, forcing the price to climb and the hedge funds that had gambled on the stock prices falling (not really a gamble since they can largely drive the market, or could until the Reddit folks came along) suddenly found themselves hundreds of millions and even a billion-plus dollars in the hole. 

---

But now Robinhood is not playing fair?

[Nancy Drew]

---

@CelticCrafter wrote:

When it comes to our finances and investments I consider myself to be pretty savvy.  

My husband tried to explain this whole thing and hedge funds to me twice yesterday and I still don't understand it.   I finally said to him to forget it because I really don't care enough to waste any more time on it!

I think it's like the bitcoin thing that I will never be able to figure out or understand.

---

Garden man explained like my husband. That is it in a nutshell but there are explanations that go beyond my pay grade.

[patbz]

My 32 yr old son follows that forum on Reddit and came very close to investing; if he had, he'd have made $240,000!  I explained to him how risky this is ( I'm glad he didn't "invest").