Trading the stockmarket (NO Referrals)

englishpremier said:
It's trading at 0.9x revenue (or was before the end of today), which in todays world of crazy valuations is nothing. One could argue that given that the shorts were artificially depressing the price, that it was underpriced to begin with.
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Indeed as comparison Tesla another hyped stock by retail and wsb traders is at ~225x revenue.

Once a stock gets detached from reality and the valuation gets based on what ifs it takes a while for it to come back down (dot com bubble anyone) but I have no doubt this will back down to 30-40 in the next few months.

I would put my money where my mouth is but shorting a stock like this is incredibly dangerous and options don't have the risk/reward due to the volatility so I'll pass on anything to do with this stock and enjoy the show
 
mattx2 said:
Once a stock gets detached from reality and the valuation gets based on what ifs it takes a while for it to come back down (dot com bubble anyone) but I have no doubt this will back down to 30-40 in the next few months.
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The entire market is detached from reality thanks to $4Trillion in relief over the past year
 
Ahleckz said:
aye, I think you’re right about Nio. It’ll grow, for sure, but I don’t see huge jumps anymore
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It's hard to say as it's increase appears to be partly due to tesla increase. So I imagine it's linked with tesla, and if tesla show us decent sales forecasts and profits, then it'll help push up nio too, which has far more room to grow than tesla does
 
Found the owners of Melvin Capital.

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Hi guys, sorry to jump on in here... always been interested in trading but what broker do you guys recommend and any tips on starting? :D. Finally in some kind of position to hedge a bit of funding away and as good a time as any right? :). Hope you don't mind me jumping in here!
 
I'm so tempted to jump into GME now.

Gone into BB and AMC. If the AMC after hours is anything to go by the stock will double tomorrow. Only have a 3k punt on that. Gutted really. BB I'm only in for about 400 shares but will double that in due course.

Took 25k out of a Boomer index fund I have. That's my profit for the last 4-5 months or so. If I YOLO it at GME and it goes poof, I've not really lost anything (I'm telling myself).

What to do.
 
regulus said:
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Took 25k out of a Boomer index fund I have. That's my profit for the last 4-5 months or so. If I YOLO it at GME and it goes poof, I've not really lost anything (I'm telling myself)...
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If you don't YOLO it at GME and it goes interstellar, what will you be telling yourself then?
:D
 
I'm always too much of a scaredy cat to go in on any of this stuff. Like has the boat not already been and gone on GME, is it still on the up and up?
 
Im going to put £1k in, at that amount if I lose it I can stomach it, if I goes up and I get a couple hundred quid out of it, great I can put it into my other fund
 
If we're doing full disclosure, I am holding 1 GME share. I'm in for the laugh only, don't have the cahonas to go big. If it makes a few quid, it'll be going Ocuk's way on some new shiny.
 
Hyburnate said:
).

What I'm saying is, Game Stop is potentially just brick and mortar stores which are dying if you think that way. EV is the future.
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That's the point I was trying to make above, the new CEO and board members are intending for that to not happen.

Leta say reddit wasn't involved, wouldn't a new visionary and proven highly successful CEO and board be enough to give a company a good bump in its share price? Plus plans to turn transition a brick and mortar retailer into ecommerce. Obviously we're not talking hundreds of % but that would definitely give it a solid boost.

And so if you do that to a company that half of Wall Street have shorted and a few million retail investors (and surely plenty of institutions behind the scenes too) catch wind of that, once it starts rising because of the fundamental changes above you've got a great reason for everyone to jump on to try and kill the shorts and stick it to big Sam.

Personally I'm finding this fascinating. I've probably read and watched more about GME than all the other stocks and funds I've traded and invested in put together. I just wish I'd paid attention a little earlier and got a better price but can't complain with the gains so far

I actually bought in October and sold shortly after to use the money for something that looked more short term attractive. RIP :(
 
GME has nothing to do with the underlying business, and everything to do with a Reddit meme factory. You're trying to ride a social media pump and dump.

Which is fine :) But you need to be honest with your motivations for short terms trades. GME is not a long term hold. It's a get in and get out before the dump trade.

WSB is dead now though, it's got too big and is going to get flooded with accounts trying to push the next stock. Probably some good money to be made following it still mind...

On the other hand, a subreddit triggering a stock market crash would just be the most 2020's thing. Stocks going crazy on the back of social media, and all the new posts in here wanting to start trading......red flags are getting more and more frequent...
 
regulus said:
I'm so tempted to jump into GME now.

Gone into BB and AMC. If the AMC after hours is anything to go by the stock will double tomorrow. Only have a 3k punt on that. Gutted really. BB I'm only in for about 400 shares but will double that in due course.

Took 25k out of a Boomer index fund I have. That's my profit for the last 4-5 months or so. If I YOLO it at GME and it goes poof, I've not really lost anything (I'm telling myself).

What to do.
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Gutted, i had some AMC from Monday, but i sold at what was a high point for yesterday, thinking i'd timed it well. Looks like it's up 125% just in pre market so you're already £4k in profit!

My issue is that my T212 was intended as my "fun" platform where i stuck a few hundred quid and went for higher risk/short term trades, it's done well because of these shares, but i can't quite decide whether to keep removing profits to move over to Fidelity for longer term holdings, or whether to just aim for the same trades with higher stakes.

It's a battle between sensible and "To the moon :D"

Doesn't help that T212 still haven't allocated a recent fund transfer from the 14th :(
 
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uncle_rufus said:
It's funny how everyone has a price though... watching people criticise GME and write it off as gambling... a day or so passes and they've switched to "should I YOLO in 5 figures?"
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I do have a lot in cash at the moment.....WSB is mad. Tempted to put a few orders in and ride the volatility at least...
 
mid_gen said:
Top thread on WSB now is about exit strategy for GME.

I would not jump in now.
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Did you even read it?

If anything it's refreshing to see some reasonably coherent talk about an exit strategy. (which isn't just "DUMP NOW" incase you didn't read it)

I'll be holding until Friday at least. I've taken profits almost matching my original investment with the remainder up 156% at close price so probably 200%+ at open. I'll set stops at $100 or something and enjoy the ride
 
Hyburnate said:
My opinion is NIO has stagnated for a bit, it's not day trading for huge rewards, I expect it's going to be a slow burner over the next two years. This month is GME.
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It's an odd one as you'd think that NIO and Nikola would be very closely linked, yet Nikola went up 25% yesterday and is up around 50% in the last week.
 
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