this post was submitted on 23 Feb 2024
472 points (98.6% liked)
Technology
60052 readers
3754 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I'm looking forward to shorting the shit out of this stock
I'd stay away from it entirely. If the total valuation is only a few billion, there's people and organizations that can easily keep the price artificially inflated if they want to kill off some short sellers. And no one will step in to change the rules to save them in this case.
I think the price will go down in the long term, but it's completely unpredictable in the short term. Especially if WSB vocally tries to take one position. I bet there's some big money that still wants to hurt them after the whole GME thing, even though I think most of WSB that tried to get into that also lost money.
If you must get your feet wet, my guess would be that the opposite of what the sentiment of WSB is will make money if you time it right and get out before they realize their losses or their options expire.
And whenever you're trading options for shits and giggles, remember that the market can stay irrational far longer than we can remain solvent.
F.U.D.
You don't think wall st would enjoy short squeezing WSB if they see shorting a particular stock is popular on there?
ah it doesn't matter, at the end of the day it's all blood money laundering...
One thing I saw after the GameStop thing happened that gave me a bit of perspective: when you buy and sell stock, your risk in the worst case scenario is that a company goes down to zero and you lose everything you put into it. That "everything you put into it" is the limit of your losses. When shorting, there is no practical limit to your losses because there is no upper practical limit to the share value.
Don't get me wrong, I'm in the fuck Spez camp as well (hence me being here). But there is virtually unlimited potential risk to being wrong about this, so keep that in mind.
PUTS on RDDT! LFG!