this post was submitted on 24 Feb 2024
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Reminder that shorting is a high risk play and you should never make investment decisions out of spite.
The market can remain irrational longer than you can remain solvent.
Holy shit put that on a t-shirt
A reminder that the stock market and any kind of high level money market of any kind including digital money .... is a rich man's game where poor are by design destined to lose.
This is a gross over simplification. Yes, rich people can have higher risk tolerance, but that doesn't mean people shouldn't be going long on index funds and otherwise safe, low risk investments for retirement with what they can afford to.
And then listen to every asshole yell 'but think of their retirements!!1!' when the stock market shits itself.
Fuck this system. It's original intent is way long gone, and we should stop pretending it's helping anyone but the rich.
Yeah, well even some rich people are bored redditors.
Instructions unclear, purchased Lemmy stock using Amazon gift cards
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Ohh dear
Sorry, I only have Steam Gift cards... 😕
DO NOT REDEEM!!
Kitboga, this you?
100%, this is a trap being set for retail investors... not touching this even if I had a 1000ft pole.
What if you had a 1001ft pole?
That’s the whacking pole
If I had a 1001 foot pole I wouldn't be browsing Lemmy on a Saturday night.
Then it would be called buying puts instead of shorting
Playing the stock market at all is a form of gambling. You should never gamble money you aren't completely willing to lose.
And with shorting there's no upper limit to what you can lose.
Not true
It is true.
You buy a stock for $30. At worst it gets to $1 and you lose $29.
You short a stock for $30. There is no upper limit to how high it can go.
In theory that’s true but you’ll get liquidated at some point.
To quote XKCD's "Engineer Syllogism":
I am good with numbers and math.
The stock market is mostly numbers and math.
Therefore, I would be -- wait, where did all my money go?
Second premise is false
No shit Sherlock
I think this company is deeply and uniquely incompetent and will never deliver on its objectives.
It will be about a week until options come out. A put option simulates renting 100 shares of a stock over a time period, and collecting the difference between the strike price you pay for and the lower price if there is one. If the price ends higher, you lose the rent you paid.
It would be hard to get that many separate entities to all start shorting a stock all at the same time. Especially on a well known entity that may have quite a bit of action.
Yeah but I would short just a little, considering it will have hard time going 100x. Tbh 10x would be as difficult, but gotta play safe.
No you should make investment decisioms purely for the fun of it.
Also, WSB has been wanting to short reddit for literally years, so this is barely news.