We’ve seen hiccups in the past when it has seemed like someone accidentally unplugged the thing for a minute or two. But what if it gets permanently shutdown?
Could be an insane wild ride where no one knows what is happening. (Well, we will know)
Comments (22)
sorted by:
There was that weird event a few years back when the ACH system went down for an hour and GME rocketed up by like $100 and it took them over a week to short it back down.
There was also a lesser known reveal of a much higher price on bloomberg terminals of around $2,400 per share.
During the sneeze a fraction of a share sold for over 5k.
Still not enough for me to retire. Well, not like I have been dreaming of since I got in this play a long with gold, silver, and DJT!
DJT should be in the hundreds right now. Instead it has dropped steadily since inauguration. A market course correction would be very satisfying to see.
Why should it be in the hundreds?
I agree it should be really high due to the kudos of Trump's name and reputation for success and the prestige he commands for being president.
I think those are reasons that it is already much higher than it would be if it was not related to Trump.
Also, many people are speculating that Trump will do more with the company, which could justify a higher price.
But hundreds?
Have you ever seen anyone win as much as Trump does? He also has supporters who buy the stock and hold it just to support him morally.
My impression is that DJT is a heavily shorted stock and would find a much higher value if it weren't being targetted by hedgies.
His supporters and potential of what he might do is why the price is so high, already.
Have you ever looked at DJT financials?
Last 9 months:
Total Revenue: $2.6 million.
Profit/Loss: $363 million LOSS.
Market cap: $6.77 billion
Latest 10Q:
https://www.sec.gov/cgi-bin/viewer?action=view&cik=1849635&accession_number=0001140361-24-045260&xbrl_type=v#
No company that has less than $3 million in revenue should have a value of $6 billion -- but it's Trump.
Even so, it is grossly overvalued, based on what it has done, to-date.
I don't believe it is heavily shorted. Just 8% of float is short, which is not huge.
And no, I don't believe in the "super secret shorts that are kept hidden from the public" bullshit story that is promoted by scammers on Reddit.
But as I have said before: If you are in it because you like Trump, then have fun with it. I just don't believe the nonsense that comes out of Reddit.
What about Devin Nunez writing a letter to the SEC about naked shorts?
Remember Devin Nunez left the House of Representatives as the head of the Intel committee, to go work as CEO of Truth Social.
That why I've picked up more shares.
Remember what the SPAC was that merged with it was? Digital World Acquisition Corporation! I always took that as a nod that the IT bad guy companies would be taken out and picked up by DJT.
Maybe their IP sold off once a Certain EO was enacted!
Billions in the bank earning millions in interest per week, independent media pipeline to user, alt-currency exchange capability, insanely loyal userbase, as yet un-announced tech asset acquisitions and little to no debt.
Maybe they will put a slow reversal into the algo system for a controlled recovery?? Basically turn off the bad spigots slowly.
Might be too many levers in place being pulled to do that, but who knows.
I'm a bit ignorant to the stock market. If I want to help the fight using GME, do I keep buying it and never sell it until when?
It might be a forever hold. Don't sell all at once. Don't use Robinhood. DRS your shares at computershare.com
I used Fidelity to buy and have their Virtual Assistant DRS for me for free.
tyvm 👊
I've been using CashApp for stocks, I'll look into this
Some of you are completely delusional about the financial markets.
Manipulation? Yes, to some degree. Money is at stake. There are people who will try to get one over. Always has been the case. Always will be the case.
But totally rigged? No chance. It's too big for that.
Stock market is definitely "iffy" right now, as it is considered overvalued and the AI story is falling apart. Very good chance of a sell-off/crash. But that does not mean the end of the world. It just means a re-pricing adjustment because there has been too much hype recently. Also, too much money printing by the Fed, and too much spending by big government. Those things cause "malinvestment," which creates chaos.
Market will not get shut down -- unless some wild event like 9/11 happens, and that was a very quick shut down and then re-open.
Trump understands the importance of financial markets operating smoothly, probably better than any president in history.
GME being the key to the whole thing? Stupid take, pushed by shills on Reddit.
I definitely understand the measured take. But, there’s been a lot of evidence gathered to give this a measure of credibility.
For example, there was the man who got mad at the SEC and bought every single share of his stock. What happened after he did that? The stock continued to trade as if nothing had happened.
Talking about this on social media gets the same sort of censorship being a vax opponent got you. I’m just saying, there’s a system that runs this thing somewhere. Don’t be surprised when it gets unplugged.
Sounds like a bullshit story.
If he bought every share, the company would have no longer been a public company.
One link
You tube link
OK, that is an interesting story that I never heard about. However ...
This was an OTC stock, and not a stock listed on the major exchanges. That is sort of the"wild west" when it comes to stocks, because there is a lot of bullshit, maniuplation, and outright lies told that are not relevant to listed stocks.
SEC does not regulate it.
"Regulation" is by the broker-dealers who allow you to buy and sell. FINRA is the government agency that oversees them, and they are nasty. They are the ones who wanted your personal information, including home address and phone number, or fine you $500 per day, if you owned a corporation, LLC, or other entity. They also want your info if you have foreign bank accounts.
This partcular stock was trading at less than $0.01 per share. $5,000 bought over 1,000,000 shares.
My guess is that the broker dealer who sold (or "sold") him those shares might have not REALLY done what they claimed they did.
Reason I say that is I had a friend who was into OTC stocks.
I remember him asking me why his buy order was not going through on a stock. He couldn't figure it out.
I think it was trading at around $0.02 and he wanted to buy 25,000 shares. The order just wouldn't go through.
I realized it was because the "bid/ask" spread was not able to process the order.
The broker-dealers will post what they are willing to buy or sell at, and how many shares. If nobody wants to sell 25,000 shares, then his buy order would not go through. And it never did.
Summary: OTC is much different than the "regular" stock market. I would bet there is more to this story, that was not disclosed. The fact that he showed a check for $5,000 would mean he probably mailed in the order, which might have been done many years ago, but not these days (I wouldn't think -- but I don't deal with this stuff).
Probably his broker-dealer was doing something odd.
There is ZERO chance that it was the "shorts" who were manipulating this. We are talking about a stock trading at $0.003 per share. Even 20,000,000 shares is only $60,000, and that assumes the price didn't change with this size of orders. It probably did.
The guys who really DO the naked shorting (and yes, they do, and it is illegal) are not going to mess around with this small stuff. They are interested in taking large positions of REAL companies, not this chicken shit company with a market cap of $5,000 total. That is just a JOKE.
You couldn't even buy a good used car for $5,000, and you think this was a REAL company that was only worth that?
I bet his broker lied to him. And I bet the millions of shares traded later were legit, but they were daytraders trying to sniff out something they could make money on.
Similar to the assholes on the Reddit boards who push bullshit stories to pump and dump stocks.
Regardless, I have no doubt there is more to the story.
By the way, naked shorting is probably harder now than it was before. The regulation that allowed them to hold a naked short without having to disclose it was changed. Now, they don't have as much time to hold it, so you probably won't see it happening as much. That's a good thing for the markets.
GME short position is only 8% of the float, which is not big at all. Back in January 2021, it was over 100%.
Short interest is self reported. Meaning fake and gay.
There are no markets, only manipulations since 8/16/71. That there is the "appearance" otherwise, notwithstanding.
Hundreds of trillions of FedBux (printed out of thin air) have been used to pump all the markets - stock, bond, real estate - providing the illusion that our "investments" are gaining in value -- the purpose of which, is to mask the constantly rising prices of basic goods and services.
There is perhaps no better example than a bottle of Coca Cola costing a nickel from its inception in 1886 to 1959 - for nearly 75 years - under at least the guise of a "gold standard". Since then, it's effectively risen a nickel per year - 100% per anum based on its natural cost.
Or real estate, which should depreciate year over year as per all other standard "property", not of the "rare" or "collectible" variety. The older the home, the more repairs it requires, the less it should be worth. Common sense.
I'm not suggesting that aren't ALSO natural forces at work in the markets, when good or bad news is released about a company, causing people to buy or sell en masse. But this is a tiny aspect of the greater "market" as a whole.
Jack Vogel, founder of Vanguard, taught for nearly 80 years that a stock was overvalued with a P/E above 13. Which is effectively still true today when it comes to selling a company. The sellers are willing to part ways with their company for 10-15x annual run rate, the buyers want to pay 5-10X, The usually meet in the middle when there are multiple buyers interested - 12/13X which is effectively how Vogel's P/E ratio was calculated.
But good luck finding any "Big Name" stock today anywhere near these rational levels. You'd be hard pressed to find any under 20 nowadays - Double what Vogel suggested was a 'good buy" (P/E = 11). And it's worth noting that almost everybody agreed with Vogel in his heyday.
How did this change? Are these "tech/information/media" companies that dominate the DOW (Industrial Average???) really worth 20/30/50/100 times their annual run rate? Is the value of a tech company really worth 2/3/5/10x an "industrial" company, or any other for that matter? Or was the shift in perception due to immense, inorganic, unnatural "market forces" that propped up the "winners" at all costs - where the "winners" were the stocks dominating American retirement funds?
Nvidia - P/E 68? Tesla P/E 183? Apple-Microsoft-Amazon-Alphabet P/E's 30-45? Really?
Over one-hundreds years of financial wisdom - really basic Common Sense - just flies right out the window in the "information age"?
When you buy a stock with say a P/E of 35, what you're basically saying is, if you had enough money, you'd be willing to buy the company for 35X what the present owner earned in the previous fiscal year. That would be an offer almost no current company owner could refuse...
The markets are all boosted with hundreds of trillions of "out of thin air" FedBux to maintain the illusion that the same people aren't stealing away our purchasing power on the daily with their "inflation" (theft) propaganda that "is totally natural and manageable" by the benevolent owners of the Fed.
But hey, I'll close with this. Thus far, picking winners on the stock market can be far more lucrative than any other investment...as long as you choose wisely - Facebook, Amazon, Apple, Alphabet, Microsoft,Tesla, Nvidia, Walmart, Netflix etc. amongst the best picks of the last 20-odd years. The companies propped up by endless "cabal bucks" no less? And combined, make up likely 50% of the average American's stock/fund portfolios.
I know many people who have made enormous returns with some of these picks. But to what end? Infusing the very organizations with our hard-earned money that are turning around and carry out the cabal's agenda?
I'm of the opinion that everything is going to work out for everybody in the end. The inevitable crash of the markets - when the manipulators pull the plug - is not going to happen as they had planned. They have lost. It's going to be fascinating to see how the "white hats" balance everything out however. The only logical conclusion I can draw is that they're going to unearth the kajillion dollar coffers of the "black hats" and redistribute these funds equitably in some, as yet, inconceivable way to my reckoning.
All this to say, the P/E ratio should be in-line with what a rational corporate buyout would look like (10-15x run rate). They're effectively one and the same number. Any P/E that stays above 15 for any length of time is inorganic and points to nefarious, irrational market forces at work because no sane buyer would pay 20/30/40/50 times what a company earns in a year. That's just too far out - impossible to forecast that far ahead - impossible to anticipate changing market forces - competitors - supply and demand trends that far into the future. See "CompuServe", "AOL", "MySpace", "Buy.com", "WorldCom", "Enron" for just a few more recent examples.