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19 September 2021
13:18 hour

Riding the roller coaster

Reddit Stocks

15/09/2021 - 00:28

So I thought time to put some away for later. Got a Roth IRA. Wanted a little excitement and a "team to cheer for" so to speak. So I put it all on JAZZ drug discovering company. Three weeks. Fluctuating between 133 and 135. Today up 6 cents. I picked the boringest stock ever. Anyway I'm in it for three months. Until then I'll be at the mall going up and down on the kiddie horse.   submitted by   /u/sixscreamingbirds [link]   [comments]


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  31. Is it really worth staying in stock market as an average non-significant retail trader when the stock market is heavily manipulated? (06/03/2021 - Reddit Stocks)
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  32. How UK investor ‘Tooda Moon’ almost blew his life savings on GameStop (GME) stock (19/02/2021 - The Motley Fool UK)
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He also invested in two other popular WSB stocks, BlackBerry and Nokia. Across all three shares, Tooda made a net profit of $6,000. But then disaster struck. GME’s meltdown Having ended 2020 at $18.84, GameStop stock peaked at an incredible $483 on Thursday, 28 January. It then crashed hard. Friday, 29 January was GameStop’s last big day before financial gravity collapsed the stock. On Monday, 1 February, GME plunged by $100, followed by another $135 on Tuesday. In 48 hours, the stock had imploded from $325 to $90. Today, it trades at $43.80, down a further 51.3%. On Friday, 29 January, Tooda showed me a further $1,700 profit from GME for the day. I begged him to sell, arguing that the stock had been artificially manipulated. I explained that, in 2020, GameStop’s sales had slumped by 30% and it shut 462 stores. Also, I argued that a market valuation of $22bn for a struggling retailer was wildly unrealistic. I valued the stock at $20 at most. I warned Tooda: “The trend is your best friend, until it’s your worst enemy”. I pleaded with him to get out, quoting Lord Rothschild: “No-one ever went broke taking a profit.” But, as GME’s stock cratered, Tooda ‘averaged down’ by buying even more. Tooda’s $24,000 loss? Eventually, Tooda invested his entire life savings (earmarked as a house deposit) into GameStop, more than $36,000. Screenshots showed he’d lost most of this sum, leaving him with just $12,000. I implored him to cut his losses, because further falls would follow. He ignored me and his losses mounted. On the Wednesday, this bubble burst — but in the best way possible. Tooda revealed that he had actually closed his real-money position on the previous Thursday. All subsequent GME trading losses were only in his virtual-trading portfolio. I was having sleepless nights worrying, so I was hugely relieved. It turns out that this was just a prank, as revenge for an earlier prank by me. Whoa. What are the lessons here for UK investors? First, steer clear of manipulated stocks and bubble shares, because bubbles always pop. Second, if you want to try day trading, test it out in a virtual environment where you don’t lose real money. Third, day trading is fiendishly hard, but investing in great businesses isn’t difficult. That’s why Tooda is now building a share portfolio of quality UK companies that should do well as the economy recovers. No more crazy GameStop trading for him — except virtually, of course! “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner. But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared. What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations. And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! More reading Stock market secrets: 4 lessons from the GameStop (GME) saga I was right about the GameStop share price. Here’s what I’m doing now Should I buy GameStop and AMC stock for my ISA? BlackBerry stock rallies further on back of GME share price rise. Should I buy this US stock? 2 US stocks with surging share prices. Should I buy GameStop or Palantir Tech?  Cliffdarcy has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. The post How UK investor ‘Tooda Moon’ almost blew his life savings on GameStop (GME) stock appeared first on The Motley Fool UK.
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