Religion and Ethics Forum

General Category => Politics & Current Affairs => Topic started by: Nearly Sane on January 27, 2021, 10:40:54 PM

Title: Gamestop: 'Failing' firm soars in value as amateurs buy stock
Post by: Nearly Sane on January 27, 2021, 10:40:54 PM

This is a fascinating story


https://www.bbc.co.uk/news/business-55817918

Title: Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
Post by: ProfessorDavey on January 28, 2021, 09:18:51 AM

Quote from: Nearly Sane on January 27, 2021, 10:40:54 PM

This is a fascinating story


https://www.bbc.co.uk/news/business-55817918

Yes it is.

My son has made some money on this (at least in % terms) - turned £10 into £175.

Title: Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
Post by: Nearly Sane on January 28, 2021, 09:36:07 AM

Quote from: ProfessorDavey on January 28, 2021, 09:18:51 AM

Yes it is.

My son has made some money on this (at least in % terms) - turned £10 into £175.

It will be interesting to see where it goes next. I would think as the news spreads and people see this as a quick way to to make money devoid of any of the theoretical moral position and shortselling then there will a bubble.

Title: Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
Post by: Nearly Sane on January 28, 2021, 02:29:30 PM

So it would appear that Robinhood has stopped Gamestop being traded. Hmmm...

Title: Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
Post by: Nearly Sane on January 28, 2021, 08:24:06 PM

Indeed hmm...


https://www.bbc.co.uk/news/business-55837519

Title: Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
Post by: jeremyp on January 29, 2021, 11:28:23 AM

The trouble is that it is a pump and dump scheme. You buy stock hoping to push the price up so you can sell to some other sucker at a high price and the other sucker is left holding a stock they can't sell. The fact that, on this occasion, the people in on the scheme are hoping the other sucker is going to be a hedge fund trying to cover a short position, doesn't stop it from being a pump and dump.

Title: Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
Post by: Nearly Sane on January 29, 2021, 01:07:50 PM

I see Robinhood amongst others have been accused of 'gamifying' the system of share trading. I wonder wherever they could have gotten that idea from....


https://www.bbc.co.uk/news/business-55842994

Title: Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
Post by: Nearly Sane on January 29, 2021, 01:54:19 PM

Some confusion over Robinhood v Robin Hood


https://www.bbc.co.uk/news/uk-england-nottinghamshire-55849192

Title: Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
Post by: Nearly Sane on January 29, 2021, 04:33:04 PM

This seems right about Robinhood


https://www.msn.com/en-us/money/companies/robinhood-raises-1-billion-in-dash-for-cash-after-trader-revolt/ar-BB1dceVU

Title: Re: Gamestop: 'Failing' firm soars in value as amateurs buy stock
Post by: Nearly Sane on February 01, 2021, 09:31:24 AM

And now silver.


https://www.bbc.co.uk/news/business-55882758