Normal Person Explains The Stock Market, Heat Use COVID-Sniffing Dogs & 100" Of Snow In California
I believe it was in Monday's Screencaps when I told you to keep an eye on the $GME situation
Now here we are on Thursday morning with $GME trading over $451 and Robinhood has officially removed the buy function for the stock. The app will let you sell $GME, but you cannot buy the stock as of 8:20 a.m. That's how far this war between Redditors and hedgies has escalated after a busy Wednesday when Discord banned the r/wallstreetsbets server.
TD Ameritrade has restricted purchases of $AMC and $GME, citing "mitigating risk" for customers. “We made these decisions out of an abundance of caution amid unprecedented market conditions and other factors,” Ameritrade announced Wednesday. Meanwhile, $GME soared even higher.
No matter where you come down in this fight, it's incredibly impressive that retail customers have been able to coordinate a fight like this to stick it to hedge funds. Again, I'm definitely not the stock market expert you guys are and you might absolutely hate what's going on, but you have to respect the fact the effort lasted more than a day, especially in a world where memes rarely last more than 36 hours.
Where does this all end? There are going to be bodies in the streets with someone holding a massive bag and hopefully, we get a movie out of it in the next 3-4 years. Hell, do a 30 for 30 on it.
• $14,000 will officially get you into the Super Bowl. I heard from a Florida friend in the healthcare industry who sent me the notice healthcare workers received announcing they'd been selected to attend the game. Those lucky enough to hit the Super Bowl lottery were awarded one ticket to the game. Those tickets require a vaccination certificate so take 7,500 tickets out of the scalper circulation. It's going to be a dogfight for those other 14,000 the NFL sold.
• It was interesting to hear Gov. Cuomo blame COVID deaths on "incompetent government."
• Do you like snow? There are areas of California that are looking at over 100" of snow to pile up from Wednesday through today and Friday. That's right, a storm total of OVER 100".