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By buying a stock that hasn't made money in 3 years while losing close to half it's revenue...for $300 a share?
That doesn't sound like "winning" to me.
That's the beauty of what's being done here.
The short sellers have sold borrowed stocks. They will have no choice but to buy at the higher price because the true owners may want to sell.
So, in theory, the people buying this "worthless" stock are the people who were driving it in the ground to begin with. Which was the whole point of this exercise.
The short sellers have sold borrowed stocks. They will have no choice but to buy at the higher price because the true owners may want to sell.
So, in theory, the people buying this "worthless" stock are the people who were driving it in the ground to begin with. Which was the whole point of this exercise.
Yes, that's what a short squeeze is. Melvin, the specific hedge fund targeted, has already done that. They covered on Tuesday. That necessity to cover is why short squeezes work so much better than a simple pump and dump. On the other hand, just like a pump and dump there is the dump that inevitably follows the pump.
Although we disagree on most things, I do think this is an indication of good parenting: you and your spouse show enough trust in your child(ren) to allow them the freedom to learn about financial markets and invest at the age of 14.
In my culture, one's children's education is more important than anything else. I would spend every dime I own on it, if that were necessary. About a year ago, when he showed interest, I opened up a small account for him to trade. He's up 35%. But then, so is everybody else this year. I'm interested to see how he does in a down year.
No matter how many times the person you quoted posts it, and whether you and I stand to earn a living off investments when we retire, it doesn't change the simple fact: The vast majority of people earn the vast majority of their income off wages and salaries, not investments. Period. It's indisputable. This is the essence of where Wall St. health=health of the economy for most Americans is false.
Try to make that claim if/when public employee retirees and union members don't get their pensions because the market crashed.
Try to make that claim if/when public employee retirees and union members don't get their pensions because the market crashed.
Most people aren't on pensions.
You obviously will continue to make "gotcha" arguments on this subject regardless of the fact that not once in how many years you've been cutting and pasting "pensions are in the stock market!!" have you successfully refuted the fundamental point that I have made.
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