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Diamond Hands / Stonks

Discussion in 'Coffee House' started by Zynt, Jan 27, 2021.

  1. Zynt

    Zynt Active Member

    I made so much money on GME. I probably should have held but I'm a fan of Kenny Rogers.
     
    • Agree Agree x 2
  2. Wulfgyr / Erytheal

    Wulfgyr / Erytheal Active Member

    Nice! I made a smidge off AMC today on a quick turn, was too late to the GME party for what my comfortable risk factor is. If AMC drops back into the $13 range, I'll prolly grab some and sit on 'em for a bit. Volume is absolutely crazy, for sure.
     
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    • Informative Informative x 1
  3. Zynt

    Zynt Active Member

    I bought shares under $20 a while back. All I need is some old women smoking cigarettes, bright flashing lights, and bells ringing to make me feel like I'm at the casino.
     
    • Like Like x 3
  4. Zynt

    Zynt Active Member


    I'm back in on $AMC and $NOK. I just restocked 23 food pantries in rural areas with my $GME profits then bought a few hundred shares of each for AMC and NOK with what was left over after the revenuer man got his cut. Ditched RobinHood for Cashapp since Cashapp is the only app I can find that isn't limiting or outright prohibiting trading on the 3 stocks in question.

    #eattherich #feedthehungry
     
    • Appreciation Appreciation x 2
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    • Funny Funny x 1
  5. Wulfgyr / Erytheal

    Wulfgyr / Erytheal Active Member

    I've been using Fidelity - no commissions, never restricted any of the WSB stocks, and also allows for after-hours trading. ;)
     
    • Agree Agree x 1
    • Appreciation Appreciation x 1
  6. Zynt

    Zynt Active Member

    I'm DEEP in the red today on AMC so I bought more. Insert Hodor meme.
     
    • Shocked Shocked x 1
  7. Wulfgyr / Erytheal

    Wulfgyr / Erytheal Active Member

    I got out in the late session last night with about a 18-20% gain, but I'm just a small fish. Unfortunately, was tied up on a call for work and missed the lunchtime dip to $11.60 today, or I woulda gotten back in. All told for the week I ended up around 11-12%, but I'm mainly in small cap / penny stocks, and just using my "play around" pile.

    My boss was on Robinhood - been after him to move for the last day and this morning he pinged me with "those MFers will only let me buy 1 share of AMC, and I can't get more GME, either!"

    I'm thinking Robinhood is having some serious liquidity issues, especially after that tap-dance session their CEO did on CNBC last night. I mean, it was Daybreak Games worthy, lol!!
     
    • Informative Informative x 2
  8. Glasscannon

    Glasscannon Member

    I missed the initial buy-in. I don't normally do self-directed trading. My investments are in mutual funds. I did take a swing on NAKD Friday. Down about 15% but we'll see how next week unfolds.
     
    • Agree Agree x 1
  9. Zynt

    Zynt Active Member

    Monday should be interesting for $AMC since they short was at $9 I believe and it closed well above that. I'm small time with this as well and have absolutely zero clue what I'm doing but the $GME purchase at $5.11 was a fluke. I made $80k net and I've given away $60k of it already. I reinvested $10k and buried the other $10k in the backyard. It's whatever. I've seen a handful of folks posting about paying off school loans, buying their little brother a gaming PC, paying for cancer treatment for family members, and just generally changing their lives. I love that. Yeet the rich.

    I downloaded Fidelity but haven't set it up yet. I imagine I'll bow out soon or I'll get addicted to it and end up living in a ditch in Kentucky again.
     
    • Like Like x 1
  10. Feldon

    Feldon Administrator Staff Member

    AMC is issuing millions more shares of stock. Seems like that's going to screw over what the Redditors were attempting to do, although my understanding is AMC was only shorted 25-30%. GameStop was really unique in being something like 140% shorted. Literally 40% more short positions existed than physical stocks.
     
  11. Fuli

    Fuli Well-Known Member

    I'm all for this rampage by the little guys. At some point, this train is gonna come to a jarring stop, so folks ought to be talking about shorting these stocks themselves at some point.

    In any case, those sitting on a pricey basis are in danger of being crushed.

    I hope folks keep their wits about them.
     
  12. Dizzy

    Dizzy Active Member

    I think it was one of their bond holders that did a conversion of bonds to shares.
     
    • Agree Agree x 1
  13. Zynt

    Zynt Active Member

    The money is less valuable than the lesson that has been taught. Thousands of people's lives were made better by people, who for all intents and purposes, are just like them. At the same time those people, on both sides of that, eyes were widened further to the greed of the folks at the top and what they are willing to do in order to keep their billions.
     
    Last edited: Jan 31, 2021
    • Agree Agree x 1
  14. Glasscannon

    Glasscannon Member

    https://finance.yahoo.com/news/silver-lake-cashes-amc-713-001059970.html

    Buyout firm Silver Lake disclosed on Friday that it sold its stake in AMC Entertainment Holdings for $713 million this week, capitalizing on a 10-fold rise in the price of the shares as traders organizing on social media platforms such as Reddit snapped them up.

    The trade puts Silver Lake and its co-investors in the black following a $600 million convertible bond investment that the private equity firm made in AMC in 2018. Such an outcome looked unlikely when AMC, the world's largest movie theater chain, was battling to stave off bankruptcy last summer, a move it avoided thanks to a debt restructuring deal with Silver Lake and its creditors.

    Silver Lake was able to convert the bonds into shares thanks to the rally pushing AMC's stock above the bonds' conversion price this week.

    AMC shares had dropped 70% in 2020 to close the year at $2.12, as many of the company's movie theaters closed or operated with reduced capacity during the COVID-19 pandemic.

    But the shares ended trading at $19.90 on Wednesday, as traders targeted heavily shorted stocks such as AMC and GameStop Corp. Silver Lake sold its stake over several open-market transactions that day, according to regulatory filings.

    The sale makes Silver Lake the latest investment firm to cash in on this week's unprecedented rally in shorted stocks. Ontario Teachers' Pension Plan sold $497.4 million worth of stock it owned in U.S. shopping mall owner Macerich Co this week, regulatory filings showed.

    AMC itself also capitalized on the rally. It raised $304.8 million by selling shares this week. It is considering new moves to raise capital through stock sales, sources told Reuters on Thursday.
     
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  15. Anaogi

    Anaogi Active Member

    I'm not sure whether the greed or the sloppiness is what stands out further to me. When amateurs can spot how badly you've screwed up and cave your position in like soggy cardboard box, you probably shouldn't be a high stakes investor, and yet here we are.
     
    • Funny Funny x 1
    • Winner Winner x 1
  16. Zynt

    Zynt Active Member

    $AMC on that DIP.
     
  17. Feldon

    Feldon Administrator Staff Member

    Seems like AMC is at the high water mark. You know, I could take a short positi...

    [​IMG]
     
    • Agree Agree x 1
  18. Zynt

    Zynt Active Member

    I bought it like $8.67. It's not gonna do anything close to what GME did but I think I'll end up making money off of it either way. Honestly, I'm bored and watching the ticker is more engaging than either of the EQ titles and way less laggy.
     
    • Funny Funny x 2
  19. Anaogi

    Anaogi Active Member

    I kinda wish this had happened when I still had my nest egg. I'd be engaging in some mischief myself.
     
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  20. Zynt

    Zynt Active Member


    I hope you did. RED ALERT.
     

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