This thing is going to murder a lot of shorts. There are a lot more trump cult members than GameStop cult members.
God I hope so, Vanguard had some weird hold yesterday so I tried to buy for $63 and it ended up executing at $72. 
Wtf, when did you submit the order? That only makes sense if you submitted a market order pre-market, which would have amounted to a market-on-open order that wouldn’t execute until 9:30. If you submitted it during RTH then that’s fucked up and I guess only use Limit orders from now on with Vanguard.
Lesson learned indeed. They had some kind of warning about trading being paused for 5 minutes because of volatility or something.
It may murder shorts, but I’m pretty sure more “normal” people pumped more money into GME than will be pumped into DJT by “normal” people.
28% of American adults say they bought GME or another meme stonk in January of 2021. That’s 72 million people, Trump got 74M votes, and I promise you all of his voters are not pumping money into $DJT.
I’m sure some people lied about buying GME in that survey, but I don’t think the Trump cult is going to pump more dumb money into this than was pumped into GME.
This thing may run up to $200 a share, but the shorts will get backed up the same way the GME shorts got backed up, because this thing is actually worth $0.00 per share. The only real question here is if it can stay dumb enough long enough for Trump to get billions out of it - and it’s possible that there is “smart” money dumped in as a bribe to achieve that result, like by Yass.
Wouldn’t be shocked if someone like Yass buys all of Trump’s shares in a block trade at the market price, then tries to get net short as quickly as possible to lose the minimum amount on the bribe, knowing the end result is making him more money on TikTok than he loses on $DJT.
I always use limit orders on everything, and I’m not sure what the downside is. Like, DJT is currently at $67.38. Why buy with a market order instead of a limit order, even if the limit order is set at like $68? Your trade will ~always go through immediately if you set the limit around 1% over the current price, and you’ll avoid what happened to otatop.
Oh you placed the order during the circuit breaker halt. That was my first guess but my chart shows that it halted at $65.98 (but at some point during the halt I suppose the Ask was $63 something and that’s when you clicked Buy). Then the 9:37 bar opened at $68, dipped back to $65.98 before hitting a high of $71.50 and closing at $70.84. I guess your order didn’t fill until 9:38.
Does this sound like an unbelievable percentage, or is it just me?
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Right, a limit order for NBBO or slightly worse is essentially the same as a market order, minus the risk of a weird fill.
The only alleged downside is for someone who needs instant execution, because my friend says market orders get priority, which I may have experienced once when submitting a Limit order in a fast-moving penny stock. But that friend of mine, despite being a licensed financial advisor and all, has some conspiratorial takes (both about markets and other things) so that’s why I say alleged downside. The more trading experience I get, the more I realize how FOS he was about certain things (despite saying them confidently).
Tbh I’m not even sure if the theory is plausible. Ask is $63, I bid $63 and click submit, but then nanoseconds later someone clicks Buy @ Market and they get to jump in front of me?
Anyway I still occasionally use market orders because it takes one click instead of two. With Limit I have to click Ask then Submit instead of just Submit, unless my order size is one I have a custom one-click button for. And between clicks the Ask can change.
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It very well could if the rugpulls from dillution and insider dumping don’t come in time to save them. But short-term I expect a drop as hype from the ticker change fizzles out.
The company loses money hand over fist, so they have to dilute to avoid bankruptcy, and normally in this situation they’d be incentivized to dilute ASAP, but maybe they’ll wait until insiders have had a chance to dump.
Maybe 28% of posters on Reddit?? I absolutely can’t believe this, do 28% of American adults even have an active brokerage account
What makes you think normies won’t jump in on this? You don’t have to be a DJT supporter to think you can get rich on this the way normies thought they would get rich buying GME.
Yes, I assume a decent chunk of people lied. But you could also probably buy fractional shares on Robinhood and I think AMC was like $4 a share or something so, who knows?
I have a hard time believing 28 percent of adults bought stocks period, let alone GME…
That survey also says
40% of Americans say they have brokerage accounts, but of this group 43% say they signed up for an account in the past month.
Maybe I’m misreading but this means >15% of Americans got a brokerage account in that specific month? I’m, um, skeptical.
Also this is a pretty big red flag:
This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.
I mean even with robinhood you still have to do all of the KYC stuff to open an account, “enter the two amounts under a dollar we sent your bank last week so you can do an ACH” type stuff right? 28% of american adults are doing that? For a meme?
Hell, I’m still waiting for Door Dash to crash. I gave up on shorting long ago.
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Yeah I have a dismal long term track record on shorts. Like 8 out of my worst 10 moves of all time were shorts. Having to be right about when something is going to happen is a lot harder than having to be right about what is going to happen. It seems like it would be 2-4x harder but it’s actually much harder than that lol.
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Neither the trump stock or gme, and essentially all meme stocks, surged from the cults buying - but they eventuslly bought and became the bag holders as always.
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What’s the consensus on participating in stock yield enhancement programs by loaning your shares to short sellers? Is there any actual risk in doing so? Obviously you’re allowing someone to apply some downward pressure, but if you’re in it for the long-term and don’t care about that, are you taking on more risk in any way?
I assume there’s some small risk the broker has liquidity issues or something, but if you feel like that’s negligible, it should be fine right?