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Anyone riding the Doge train?

Discussion in 'General Discussion' started by Powerman620, Apr 15, 2021.

  1. zghorner

    zghorner Sharpshooter

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    GME was skyrocketing in price due to retail traders buying shares at any price...major hedge funds were short GME so the higher the price the worse it got for them.

    Price went ballistic on a tuesday IIRC and robinhood (among others) froze/prohibited the ability to buy GME (and other meme stock) shares...all buying power was eliminated meaning only sell orders remained which drove the price down considerably and it has never recovered from that point...

    essentially retails brokers led by robinhood got margin called due to significant losses on short gamestop positions via their clearing companies (market makers) that were heavily short GME...

    SO ESENTIALLY WHAT THIS MEANS IS FOR ONCE THE RETAIL TRADERS (who traditionally lose 95%+ of the time to the big boys) held a royal flush and had the leg up on major financial institutions...and instead of folding (paying the asking price for GME shares), they shut the game down and said "game over you guys might win so you cant play anymore"

    its was totally lame, and immoral, and unethical business, and ********.

    but nothing is new, they did the same thing to saunders with piggly wiggly, and the same thing to the Hunt brothers on their silver corner.
     
    JD8, HoLeChit and kwaynem like this.
  2. golddigger14s

    golddigger14s Sharpshooter

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    I just bought $130 worth of dogecoin Robinhood for a trial run.
     
    kwaynem likes this.
  3. HoLeChit

    HoLeChit Semper Fidelis

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    By golly I know, right?

    perfect summary^^^
     
  4. zghorner

    zghorner Sharpshooter

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    I was up $100k on GME and AMC before that happened...still butt hurt lol.
     
  5. golddigger14s

    golddigger14s Sharpshooter

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    Dived down to 25 cents, bought another $30 worth.
     
  6. JD8

    JD8 Sharpshooter

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    If y'all get some good gains in this, make sure you take your initial investment off the table and play with the houses money.
     
    DRC458 and kwaynem like this.
  7. kwaynem

    kwaynem Sharpshooter

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    I bought 500 shares when it was .05 cents a share and bought more when it went to .06 a share
     
  8. retrieverman

    retrieverman Sharpshooter

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    You’re in great shape!!! I wish I had bought in at that price. I’m currently holding over 60k “shares” for well under 20 cents and am praying for a windfall.
     
    kwaynem likes this.
  9. wawazat

    wawazat Sharpshooter

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    Just try not to get antsy if it takes a couple of years or more. Looking at 5y trends for Bitcoin and Ethereum shows they had a really solid spike, then a partial slump as people sold it. After that, both showed very large long term growth. I am not anticipating having a good picture of potential for at least 2-3 more years.
     
    kwaynem likes this.
  10. KOPBET

    KOPBET Sharpshooter

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    Under 30 cents. I think I'll splurge and buy 3 or 4.
     
    kwaynem likes this.

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