Llevron Posted February 1, 2021 Share Posted February 1, 2021 1 minute ago, Barry.Randolphe said: I think the goal with AMC is to play the long hold....that stock has to be valuable come post-pandemic time when people WANT to go see a movie and the only theater remaining is AMC...plus they just got a cash infusion of $1B, they aren't going tits up anytime soon Yea but not at 16 bucks (i dont think). They got up to 10 when Avengers Endgame came out. That movie set all the records. I do expect that they will seen a boon when people are free and able to get back out to movies, thats why I picked it up. But.....i dont see them beating Avengers Endgame type numbers. But maybe im putting too much value in those. Im admittedly not sure how else to predict them doing well. Link to comment Share on other sites More sharing options...
techboy Posted February 1, 2021 Share Posted February 1, 2021 2 hours ago, The Evil Genius said: Explanations aside, it is 100% bad optics to have artificial limits placed on the amount of purchasing or selling of stock by a major company like Robinhood. They should suffer the fallout. There are a lot of things to dislike about Robinhood (and I didn't even mention the crashes previously), but if what I read is accurate, they literally couldn't process those purchases after a certain point, as in their clearinghouse was asking for more collateral than they actually had. Like they tapped all their credit lines and still wouldn't have had the capital to cover it. It's not exclusive to them either.. other platforms implemented restrictions too. They just took all the heat because they were the primary platform for a lot of the people that jumped in on this. The fact that so many people immediately accepted the conspiracy theories surrounding it is another reason I'm so uncomfortable with this... I hadn't spent a lot of time looking into clearinghouses because I'm not an active trader, bit if you're going to play with the big boys on Wall Street in options and short squeezes, it is inexcusable not to have done the due diligence on that front. There are a lot of people playing with things they don't really understand, and a lot of them are going to get burned pretty badly. 3 2 Link to comment Share on other sites More sharing options...
Corcaigh Posted February 1, 2021 Share Posted February 1, 2021 18 hours ago, TryTheBeal! said: Captain Commando - no shorts! Link to comment Share on other sites More sharing options...
The Evil Genius Posted February 1, 2021 Share Posted February 1, 2021 (edited) Maybe I am missing something @techboy but was the requirement for collateral (from the clearinghouse) stock specific? My very limited understanding of all this was that Robinhood wasn't placing those limits on any other stocks at the time. Edited February 1, 2021 by The Evil Genius Link to comment Share on other sites More sharing options...
techboy Posted February 1, 2021 Share Posted February 1, 2021 1 minute ago, The Evil Genius said: Maybe I am missing something @techboy but was the requirement for collateral (from the clearinghouse) stock specific? Yes... Since stocks don't actually settle for two days after the trade, the clearinghouse effectively floats the money for a small fee that covers the usually negligible risk of the buyer being unable to put up the money two days later. In this case, the heavy trading and insane price increase made the risk much higher, so the clearinghouses started asking for a lot more collateral on the stocks affected, and certain firms just couldn't cover it. My understanding is that some firms handle it internally because they're big enough ( I think one was Fidelity?) but that doesn't apply to Robinhood. 2 Link to comment Share on other sites More sharing options...
Llevron Posted February 1, 2021 Share Posted February 1, 2021 8 minutes ago, techboy said: There are a lot of people playing with things they don't really understand, and a lot of them are going to get burned pretty badly. Have you been to the Reddit forum yet? Its got a unhealthy amount of "Fake news" "Media is the enemy of the people" stuff going on. They are totally the type of people to believe something like that and not adjust their views when more sensible information is brought forward. The more you listen to these people the more obvious it is they are being taken advantage of and are going to blame everyone but the people responsible (themselves) for this when they lose their money. There are people who are saying they got into this knowing they would lose the money they put in it. But I notice more than enough memes basically sending the message that taking a profit in this is weak and bad. And that you should dump all your money into it to prove a point. Now, im a cynic. But.....thats exactly what I would say to a bunch of gullible losers so they can pump up the stock fore me and I can cash out at the top. 1 Link to comment Share on other sites More sharing options...
techboy Posted February 1, 2021 Share Posted February 1, 2021 5 minutes ago, Llevron said: Have you been to the Reddit forum yet? No, but I did run across an excellent plain language explanation on r/investing called "common misconceptions" (it's still on the front page) that does a good job of explaining the situation and debunking the false narratives. Unfortunately it also uses salty language and when I tried to post it here the preview pane bypassed the profanity filter, and I didn't want to mess with figuring out the spoiler tags on my phone. 1 Link to comment Share on other sites More sharing options...
DCSaints_fan Posted February 1, 2021 Share Posted February 1, 2021 55 minutes ago, techboy said: There are a lot of things to dislike about Robinhood (and I didn't even mention the crashes previously), but if what I read is accurate, they literally couldn't process those purchases after a certain point, as in their clearinghouse was asking for more collateral than they actually had. Like they tapped all their credit lines and still wouldn't have had the capital to cover it. It's not exclusive to them either.. other platforms implemented restrictions too. They just took all the heat because they were the primary platform for a lot of the people that jumped in on this. The fact that so many people immediately accepted the conspiracy theories surrounding it is another reason I'm so uncomfortable with this... I hadn't spent a lot of time looking into clearinghouses because I'm not an active trader, bit if you're going to play with the big boys on Wall Street in options and short squeezes, it is inexcusable not to have done the due diligence on that front. There are a lot of people playing with things they don't really understand, and a lot of them are going to get burned pretty badly. What I'm wondering is why the NYSE/NASDAQ system where you have "seats on the exchange" and brokers are even necessary anymore. Maybe somewhat can start a stock exchange where traders are able to interact directly and don't require an intermediary, so "liquidity shortages" can't happen. Your bids/asks for stocks might not be satisifed, but at least thats something thats under the traders control Link to comment Share on other sites More sharing options...
techboy Posted February 1, 2021 Share Posted February 1, 2021 15 minutes ago, DCSaints_fan said: What I'm wondering is why the NYSE/NASDAQ system where you have "seats on the exchange" and brokers are even necessary anymore. It's an interesting question. Several years ago I was amused to find out that the Chicago Mercantile Exchange still uses "open outcry", which is the classic scene from the movies where brokers stand in the pit waving papers, using hand signs, and screaming at each other. This press release seems to indicate they still do, and only stopped because of Coronavirus: https://www.cmegroup.com/media-room/press-releases/2020/6/09/cme_group_to_reopeneurodollaroptionstradingpitonaugust10.html Link to comment Share on other sites More sharing options...
tshile Posted February 1, 2021 Share Posted February 1, 2021 4 hours ago, The Evil Genius said: Explanations aside, it is 100% bad optics to have artificial limits placed on the amount of purchasing or selling of stock by a major company like Robinhood. They should suffer the fallout. meh. When it first happened I pointed out there was a solid chance it had to do with a leverage issue and sec rules. I wasn’t far off with clear house rules. and I’m not exactly well informed on all of this. I like to jump on the conspiracy theory and demand they burn to the ground, cause it’s fun, but yeah this wasn’t a difficult thing to figure out. It really sounds like the bad optics issue is due to people not understanding how any of this works. 23 minutes ago, DCSaints_fan said: What I'm wondering is why the NYSE/NASDAQ system where you have "seats on the exchange" and brokers are even necessary anymore. Maybe somewhat can start a stock exchange where traders are able to interact directly and don't require an intermediary, so "liquidity shortages" can't happen. Your bids/asks for stocks might not be satisifed, but at least thats something thats under the traders control you’re going to run into issues with timing of prices based on how far away from the exchange you are. Which is why I think the brokers do with middle manning the trades - it significantly increases the percentage of orders that can be filled. when you have live things moving that fast it doesn’t take much distance for you to be far enough off the “real” thing to matter and break things. Link to comment Share on other sites More sharing options...
DCSaints_fan Posted February 1, 2021 Share Posted February 1, 2021 28 minutes ago, tshile said: meh. When it first happened I pointed out there was a solid chance it had to do with a leverage issue and sec rules. I wasn’t far off with clear house rules. and I’m not exactly well informed on all of this. I like to jump on the conspiracy theory and demand they burn to the ground, cause it’s fun, but yeah this wasn’t a difficult thing to figure out. It really sounds like the bad optics issue is due to people not understanding how any of this works. you’re going to run into issues with timing of prices based on how far away from the exchange you are. Which is why I think the brokers do with middle manning the trades - it significantly increases the percentage of orders that can be filled. when you have live things moving that fast it doesn’t take much distance for you to be far enough off the “real” thing to matter and break things. The exchange could only resolve trade orders on a longer time scale, like every second, so there'd be no advantage to for this millisecond HFT BS. Link to comment Share on other sites More sharing options...
Spaceman Spiff Posted February 1, 2021 Share Posted February 1, 2021 3 hours ago, Llevron said: I dont think AMC is ever getting back to 20, but if you got in at 16 you might be able to get your money back today. If thats your plan I would set some kinda auto sell if you have that capability. If thats not your plan, enjoy the wave playa lol Man, it was at 17 for a second this morning (literally, a second). Went to go do some work stuff and get my day started, came back and it was at 15.50 lol Oh well. Link to comment Share on other sites More sharing options...
Dr. Do Itch Big Posted February 1, 2021 Share Posted February 1, 2021 On 1/27/2021 at 3:58 PM, Dr. Do Itch Big said: Is it ironic to me this Reddit dude dropped 50k and made 50 million but Cohen invested 76 million and his investment is now worth 1.3 billion. 2 hours ago, The Evil Genius said: The largest individual shareholder of Gamestop is one of the co-founders of Chewy. Already a billionaire, he invested 76 mil last year in Gamestop. He made a billion dollars on Gamestop shares last week. Beat you. Are we all rich yet? Link to comment Share on other sites More sharing options...
Dr. Do Itch Big Posted February 1, 2021 Share Posted February 1, 2021 On 1/31/2021 at 8:31 AM, Hersh said: you posted something that seemed to defend big pharma jacking up prices. This appears to be an article talking about one reason they do it and it’s not cause of all the R&D. Well it’s not only R&D but if you are making drugs and trying to get it approved by the FDA then your quality control team must have passed inspection and manufacturing costs. Plus manufacturing is moving towards single use which is usually cheaper than huge batches especially when you don’t need to mass produce huge amounts. Link to comment Share on other sites More sharing options...
The Evil Genius Posted February 1, 2021 Share Posted February 1, 2021 29 minutes ago, Dr. Do Itch Big said: Well it’s not only R&D but if you are making drugs and trying to get it approved by the FDA then your quality control team must have passed inspection and manufacturing costs. Plus manufacturing is moving towards single use which is usually cheaper than huge batches especially when you don’t need to mass produce huge amounts. Then you have to advertise the **** out of them. Which allows you to justify the price. 🙄 1 Link to comment Share on other sites More sharing options...
Corcaigh Posted February 1, 2021 Share Posted February 1, 2021 33 minutes ago, Dr. Do Itch Big said: Well it’s not only R&D but if you are making drugs and trying to get it approved by the FDA then your quality control team must have passed inspection and manufacturing costs. Plus manufacturing is moving towards single use which is usually cheaper than huge batches especially when you don’t need to mass produce huge amounts. Sure ... drug development is costly and high risk and companies need to make a profit. I took the original post to refer to companies acquiring a drug, possibly through acquisition and then jacking up the price. Pharma bro Martin Shkreli was one particularly bad example bumping the cost from $13 to $750 per pill just because he could. Link to comment Share on other sites More sharing options...
Dr. Do Itch Big Posted February 1, 2021 Share Posted February 1, 2021 40 minutes ago, Corcaigh said: Sure ... drug development is costly and high risk and companies need to make a profit. I took the original post to refer to companies acquiring a drug, possibly through acquisition and then jacking up the price. Pharma bro Martin Shkreli was one particularly bad example bumping the cost from $13 to $750 per pill just because he could. Oh yeah. I agree. That’s why I don’t work for them snakes. Link to comment Share on other sites More sharing options...
Metalhead Posted February 1, 2021 Share Posted February 1, 2021 1 3 Link to comment Share on other sites More sharing options...
Captain Wiggles Posted February 2, 2021 Share Posted February 2, 2021 1 5 Link to comment Share on other sites More sharing options...
spjunkies Posted February 2, 2021 Share Posted February 2, 2021 Link to comment Share on other sites More sharing options...
Spaceman Spiff Posted February 2, 2021 Share Posted February 2, 2021 AMC noooooooooooooooooooo 2 Link to comment Share on other sites More sharing options...
Ball Security Posted February 2, 2021 Share Posted February 2, 2021 (edited) Uhh, AMC, the moon is the other direction. Edited February 2, 2021 by Ball Security 1 Link to comment Share on other sites More sharing options...
spjunkies Posted February 2, 2021 Share Posted February 2, 2021 2 Link to comment Share on other sites More sharing options...
PokerPacker Posted February 2, 2021 Share Posted February 2, 2021 I think what you guys mean is "It's a good time to buy more AMC" 2 Link to comment Share on other sites More sharing options...
DCranon21 Posted February 2, 2021 Share Posted February 2, 2021 (edited) AMC RN Just got delayed, that's all. Edited February 2, 2021 by DCranon21 3 Link to comment Share on other sites More sharing options...
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