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S'pore Reddit User Claims Losses of ~S$81,500 Trading GameStop (NYSE: GME) on Tiger Brokers

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5th Gear (edited)

https://blog.seedly.sg/tiger-brokers-gamestop-nyse-gme-loss

S'pore Reddit User Claims Losses of ~S$81,500 Trading GameStop (NYSE: GME) on Tiger Brokers

Original reddit thread https://www.reddit.com/r/singapore/comments/l71x2p/hi_guys_just_lost_approx_60000_usd_due_to_tiger/

 

Edited by noobcarbuyer
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Turbocharged

Premarket shows that Gamestop is UP again tonight.

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5th Gear
3 minutes ago, kobayashiGT said:

 

This guy really has diamond hands. NYT publishing fake news again. Roaring kitty is name on youtube.

His nick in reddit is u/deepf**kingvalue

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Twincharged
2 hours ago, Albeniz said:

Premarket shows that Gamestop is UP again tonight.

This shows how crazy the stock market is.. People just buy buy buy with no knowledge on the company.. They just see the price go up, so all chiong buy. 

 

The more fed print the money, the higher it will inflate the asset bubble. So standby for the bubble to pop.. 

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Supersonic
45 minutes ago, Yewheng said:

This shows how crazy the stock market is.. People just buy buy buy with no knowledge on the company.. They just see the price go up, so all chiong buy. 

 

The more fed print the money, the higher it will inflate the asset bubble. So standby for the bubble to pop.. 

You talking about Bitcoin? 😄

At least tulips can place on your table and look good! 

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Twincharged
Just now, Volvobrick said:

You talking about Bitcoin? 😄

At least tulips can place on your table and look good! 

Stock market and bitcoin.. 

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Hypersonic

No its not people buy stocks they don't know the company.

They buy stocks BECAUSE they know the EXACT situation.

Hedge funds sell stock they DONT own at a high price and when it goes down they buy at a lower price to give it to the people that bought from them.

This is called short selling.

When they do it with a lot of money there is an opportunity to buy up thousands of shares hedge funds are selling that they DONT own.

Because they NEED to buy back the shares.

Now if you own thousands of these shares and no one is selling then the hedge funds need to buy the shares at ANY cost no matter how expensive because they OWE the shares and need to settle.

As the price keeps going up they get more desperate and bid higher and higher as they need the shares.

Very smart tactical play and NOT buying shares they don't know anything about the company.

:grin:

53 minutes ago, Yewheng said:

This shows how crazy the stock market is.. People just buy buy buy with no knowledge on the company.. They just see the price go up, so all chiong buy. 

 

The more fed print the money, the higher it will inflate the asset bubble. So standby for the bubble to pop.. 

 

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Supercharged

I've been monitoring GME for couple of days.

It's price movement takes a heart of steel to withstand, my heart too weak, cannot gamble:grin:

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5th Gear
46 minutes ago, Jamesc said:

As the price keeps going up they get more desperate and bid higher and higher as they need the shares.

 

 

Just to add on. Imagine one of those guys shorted $100 mil of shares at $6. No big deal right? They are worth billions.

Wrong. This means they shorted 16.6 mil shares. At 500 per share, they will owe 8.3 bil. If they don't have so much cash, they will be forced to clear their position (buy in). As they buy in, it pushes the demand and price higher and higher.

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Supersonic (edited)
26 minutes ago, Windwaver said:

I've been monitoring GME for couple of days.

It's price movement takes a heart of steel to withstand, my heart too weak, cannot gamble:grin:

it's like playing baccarat ...

2 cards and then you can slowly slowly "lut" the card ...

the feeling is sibei boomz ... not for weak heart ... 

Edited by Wt_know
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Hypersonic

This is not the first time Short Sellers got burned.

The greatest burn was by Porsche. They made billions burning the shorts.

:grin:

 

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Supersonic (edited)

On the recent gamestop/reddit/ robinhood incident, I think these guys could just getting themselves into hotter soup. the SEC and SGX and just about every stock exchange comm in the world, would have certain regulations against artificial price rigging or conspiracy to drive prices either way.

if a hedge fund short sells or long buys a stock, and it does so without conspiring with other hedge funds or individuals or entities etc, thats ok in the eyes of the law.  But when a group of people, all seperate individuals, especially this big, comes together, discusses, plans, and executes trades to purposely drive up a stock price for no true legit reason in an act of conspiracy then they may be deemed have ran foul of exchange regulations and possibly the law.

this applies not just to stocks but to about every traded security in any regulated market.   It also does not apply only to individuals or small companies. For example, major banks were fined for manipulating Libor rates not so long ago too.  

Try it in Singapore, and you would likely be charged for market rigging first.   Some people have, and those who were found out paid the price.  These actions are usually done by syndicates (secretly) which target Pennies driving them up and then throwing them out to undiscerning “investors” . There has been several quite widely reported cases over the years. 

There will probably be many technicalities in the lawsuit or case being fought but i do think that the authorities need to do what that need to do to keep it as clean as they can.  This is not to say that any party in this whole fracas is correct or wrong (morally or otherwise), but similar to any true punter at the tables, i believe no one would want to place a bet knowing that the roulette is rigged unless he is the one behind the rigging, of course.   

Good luck to all making their next million bucks.  

Edited by Throttle2
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Supersonic

wah T2 issue thesis liao .... put $$ in your pocket [thumbsup] 

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Twincharged (edited)
10 hours ago, Wt_know said:

it's like playing baccarat ...

2 cards and then you can slowly slowly "lut" the card ...

the feeling is sibei boomz ... not for weak heart ... 

Yes, because of massive amount of money printed, a lot of money that is pumped onto stock are just like gambling not based on fundamentals, coz when people see stock prices keep rising, at 1st they might think cannot be leh, this abc company business fundamentals where got so good? It's over valued, so never go in. Then months later, the stock of coz got up and down, but overall still continue to go up. Sooner or later more and more investors just neglect the fundamentals as the stock price keep rising and they just want to catch the wave. So now investing stock is like gambling. The problem is that there will be a point where the bubble will pop. 

 

This stock market keep rising, housing price keep rising mightbe a good thing. Coz it is because that these hot money that fed print majority went to stock and housing and bitcoin, consumer price like food is not rising that fast, is its a blessing in disgust. However, when ultimately people will want to spend all these inflated stock market (if it haven't popped yet), profit from inflated housing market and etc. So when that happened, the inflation will go into normal consumer goods. 

 

The thing is that because usd is still a reserve currency, so America is actually causing inflation to all over the world. Coz America keep go deeper into trade deficit where other country work hard for them Labour to provide for it. Imagine if say countries one by one decide to say that's it, inflation in our country is getting too high and think that america is not able to pay us back the money this is owned unless America keep printing more money. And if China make the 1st move to say bye bye America, slowly one by one will follow. Then America will go into hyperinflation mode and other countries will suddenly see a sign of relief as in now the hot money is gone and could be able to built a more productive economy (not based on money printing to pump up everything). 

Edited by Yewheng

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Supersonic (edited)
5 minutes ago, Yewheng said:

Yes, because of massive amount of money printed, a lot of money that is pumped onto stock are just like gambling not based on fundamentals, coz when people see stock prices keep rising, at 1st they might think cannot be leh, this abc company business fundamentals where got so good? It's over valued, so never go in. Then months later, the stock of coz got up and down, but overall still continue to go up. Sooner or later more and more investors just neglect the fundamentals as the stock price keep rising and they just want to catch the wave. So now investing stock is like gambling. The problem is that there will be a point where the bubble will pop. 

Err ... are you talking about singapore property? sounds familiar

the only way is UP ... where is the fundamental? .... lol

Edited by Wt_know
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