General Why aren't you dorks talking about gamestonk hilarity?

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jason73

fuck off. i got work to do
First 100
Jan 15, 2015
55,241
105,890
fuck paying an app 730k . come at me bro . you cant get blood out of a stone
 

Lou Dog

Went to the Moon
First 100
Jan 17, 2015
50,701
54,337
For those with Robinhood accounts - Be careful. I just read an article about them completing trades on margin even when the account had available cash on hand. Margin purchases get charged interest.

I don't have a Robinhood account and don't know how to navigate their platform, but for those who do you might want to check it out.

I'm going to post this in both stock threads.
ya that next morning after GME busted to 400 they sold off a bunch of folks shit because it was margin purchased
 

Hauler

I knew all the rules but the rules did not know me
Feb 3, 2016
30,297
41,502
Maxine Waters, who has a bachelor's degree in sociology, is investigating the GameStonk fiasco.

That sounds dumb enough to be DC.
 

jason73

fuck off. i got work to do
First 100
Jan 15, 2015
55,241
105,890
Maxine Waters, who has a bachelor's degree in sociology, is investigating the GameStonk fiasco.

That sounds dumb enough to be DC.
all those congressmen and senators who are over 65 need to go. crazy maxine probably has the clock on her stove blinking 12:00 but she is supposed to be able to wrap her head around how some retards and autists on reddit used an app to game the stonks market. not a friggen chance she understands what is going on. besides biden said black people dont know how to use the internet at his CNN town hall the other night. cant be possible
 

Hauler

I knew all the rules but the rules did not know me
Feb 3, 2016
30,297
41,502
I don't know why he has to bring race into it. Well, yeah I do but whatever.

Nobody can figure out their stupid fucking system. My wife has been trying to get her parents scheduled for about 2 weeks now. It's probably misplaced aggression, but she fucking HATES Biden over the complexities of getting an appt scheduled for a vaccine.

I haven't been too involved in it, but she said it's a fucking nightmare. And Biden is a fucking idiot.
 

Enock-O-Lypse Now!

Underneath Denver International Airport
Jun 19, 2016
8,144
14,704
Who else thinks this shits about to tank?

Now that they pumped up GME,AMC and others they have attracted every joe blow with a dildo and lured them into the market in hopes of making bank in a quick minute ....now they tank the shit and take all that money money son!

Fuck it...I'm dropping 5k on UVXY in preparation for the great crash of 2021
 

jason73

fuck off. i got work to do
First 100
Jan 15, 2015
55,241
105,890

Hauler

I knew all the rules but the rules did not know me
Feb 3, 2016
30,297
41,502
you gotta love how people just write it off as oh its just joe being joe, he is old . if it was trump it would be reeeeeeee huwhite supremacy reeeee racist dog whistles he must be investigated and removed from office
This would be an impeachable moment if it was Trump. They'd be all over his ass for it.
 

kaladin stormblessed

life is a gift
Apr 24, 2017
7,987
9,369
Who else thinks this shits about to tank?

Now that they pumped up GME,AMC and others they have attracted every joe blow with a dildo and lured them into the market in hopes of making bank in a quick minute ....now they tank the shit and take all that money money son!

Fuck it...I'm dropping 5k on UVXY in preparation for the great crash of 2021
There's not nearly enough money sitting on the sidelines from Newby investors to materially impact the market as a whole, which is funded primary by the wealthiest individuals of the world, pensions, trusts, endowments, corporations, and governments
 

kaladin stormblessed

life is a gift
Apr 24, 2017
7,987
9,369
Congressman and the dialog are wrong

View: https://youtu.be/fvCDJeTyRas


People are saying that there are two ways to pay for a trade:

(1) commission

Or

(2) Being offered a higher price than the market maker is currently buying the stock at

People are suggesting that since robinhood is commission free, they implement option 2

But they are wrong. Option 2 happens regardless. That's how market makers operate. They make a market by constantly being open to both buying and selling. They always buy from you at less than they sell to you. Called bid-ask spread

And that bid-ask spread is effectively transferred to you through the broker

 
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kaladin stormblessed

life is a gift
Apr 24, 2017
7,987
9,369
View: https://youtu.be/fvCDJeTyRas


One more thing. The congressmen wouldn't let the robinhood guy answer about size of trade, but its relevant to the question

Because most robibhood clients are trading in such small amounts, a 7 dollar transaction per order (or whatever it is at fidelity right now) is material.

Let's say you invest 100* bucks into gme. If the trade commission costs 7 bucks, that means you're losing 7 percent right off the bat

The bid-ask spread for an actively traded, sub-$100 dollar stock is going to be muccccch less 7 bucks

Size matters, congressman


* technically, if you invest 93 bucks with a 7 dollar commission, you are losing 7 percent off the bat. But the above scenario paints the point of the paragraph better for non-math nerds
 
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