Good morning, anyone else buying the meme stocks on reddit?

[alanp]

I'm getting in on this, anyone else?

[Bromptonboy]

No for me, but I have been following it with interest.

[alanp]

I threw in $1,000.  Eager to see how it goes.

[Rico]

Not for me.

[jedijeff]

I like the concept of people taking on wall street. Shorting just seems dirty to me, but my knowledge on stock trading is really limited. Did buy some bitcoin a few years back, it is actually double what I paid for it now lol.

[alanp]

I'm not mad at these hedge funds.  I think shorting, and any other trade aimed at predicting the future price of a stock in the short term is a form of gambling (not unlike poker).   I've never been into calls and puts for that reason.     But hey, if you were in the casino when a hot-shot card shark walked in and put up enough chips for almost unlimited risk to himself and potential windfall winnings on the opposite side, other players will want to be dealt in to play against him.    If the big boys have the right to use our stock exchange as a casino, well so do the average people.  What was what was so maddening about 2008, common people didn't have enough money to buy into a hedge funds that bought credit default swaps, they were excluded from the process.  (Just not excluded from the risk, IE bailout of banks)  That was something only they were able to benefit from.   I think a major remedy to wealth inequality is more everyday people being engaged in making investments.

[Jobydrone]

I don't understand much about it, but I thought that artificially manipulating the price of a stock for profiteering was a good way to wind up in prison?

[Rico]

I don't understand much about it, but I thought that artificially manipulating the price of a stock for profiteering was a good way to wind up in prison?

Not sure.  Ask Bryan!