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Stupidity

"This Wall Street stuff is easy"Seing a lot of messages like this: "Just spent a day with a friend with zero investing experience. Says he is up 60% on airlines stocks with 50% of his net worth. Claims this Wall Street stuff is easy and he should just quit his good medical job to day trade.". You know what this signals. Looking at a specific example, Dave Portnoy runs a website and was on the news for making a coronavirus rant a few weeks ago. On January 29th, 2020 it was announced that Penn Gaming Inc. (PENN - Get Rating) had purchased a 36% stake in Barstool worth $163 million in cash and stock. He saw the big price fluctuations of PENN. Going from $26 to $39. By March 18th it hit a low of $3.75. So he started day trading in early April or late March. 2 months ago. "Quickly up 100k" or something like that. He's been advising people since he started lmao. Then in a few days he reaches +150k and commands people to take a knee and bow to the new king of day trading (this was back in April). He shorted a stock by misclicking and discovered what short selling was. He got rekt, raged, but later came back. He got invited to CNBC fast money. "I am the king of the stock market" "I am smarter than Warren Buffet" "The old man lost his fastball. Tell him to get off the tracks or he’ll get run over. I don’t want to hurt him." "Say it with me... Stocks only go up. Only losers take profits. This is so easy. All you do is buy and you're rich like Scrooge Mc Duck." June 5: "I’m being modest when I say I’m the world’s greatest day trader. My unlimited money has upgraded to infinity money." He's a 43 yo man that became a millionaire with this site he created. Proving you don't need to be very smart to make it. Who knows, with enough FED intervention an idiot like him can make it, but the country won't. Some people to him: "@stoolpresidente my trading strategy is buy after you lose money in hopes that you sell and the price goes back up. Worked on $SAVE , $BABA next . Please sell your BABAs around $195. 10% commish coming your way when I’m a millionaire." His answer: "Brilliant" Hard to think this is not a parody. The stock market will probably rally higher on positive hopes for the rebuilding of destroyed us cities. Very rational. This will age beautifully. Can't wait.
TVC:IXIC
by MrRenev
2
Red alert: Idiots are selling! [Entertainment & lesson]We have a code red. I repeat, we have a code red. I can barely breathe! 🤣 I'm crying After USO had their reverse split, the price gapped up. You can check it on robintrack, first there was a strong decline which might be all the people so wiped out they could only afford <8 shares (LOL), but then even after this it keeps going down! robintrack.net It only went up before you can check for yourself. Since february they have only kept buying, the number of holders line never went down even for a day no matter what. And now even after the initial drop that might be explained for other reasons number of holders went down by ~7% There is only 1 explanation: These masterminds thought the price really went up, and they outsmarted institutions, and have locked up profit 😆 Now I don't know if Robinhood had an erronous display, or if they only show the gains since the split maybe (so investors saw green and thought they got their money back), perhaps some are doing "automated trading"? All I know is the price rallied up because of a reverse split and a group of people known to be stupid and have been strictly buying for 2 months without even 1 day of pause, have started selling. These can't be humans... They must be... something else... Hey so if a really solid company made a 1 > 10 split all the animals would be aggressively buying thinking the price dropped 90%? Making money in markets isn't that hard if you take it seriously, just look what kind of absolute imbeciles we are playing against!
AMEX:USOEducation
by MrRenev
14
Retail investors did something dumb again 😊Weekend investors really outdid themselves this time. With the pandemic alot of people have started using Zoom, a Nasdaq listed communication company that provides videoconferencing services. The company is valued now at 44 billion and even at its lowest this year and since being listed in 2019 (correct me if I'm wrong) it was above 15 billion. Hobby investors, that we can call tourists, poured so much time and effort into researching the company, reading its reports, analysing it, that instead of buying Zoom the booming tech company, they didn't just buy anything, they instead bought a dead chinese company, an empty shell on total radio silence since 2015. It has been trading at cents to a fraction of a cent before Zoom went public, and had a daily volume of about $5. 5 bucks. With obviously a spread of 700% (You didn't read wrong LOL). And it went up to $60. People bought at >$10! And was happy about not missing out. Crypto investor logic. I am absolutely pissing myself already but it gets even better. These absolute masterminds started buying BEFORE Zoom went public. All good nothing to worry about. It went up 50000% in a few days and looks like founders dumped on an enormous amount of idiots "buying the dip". Since then the price went even higher so the brainlets that "bought the dip" are probably acting like "crypto early adopters" and explaining to people how to invest 😆. The NAsdaq site has an article about this, this title "The SEC Really Wants Investors to Stop Buying the Wrong Zoom Stock" www.nasdaq.com Same thing that happened with SNAP. But at least they bought a real company. Here we can see idiots started buying a few weeks early: It is possible some people buy in advance expecting simpletons to buy the wrong stock and profit from this... Not sure what timeframe to trust, and it's not important enough to me to go check. What matters is that in the span of 24 hours the price dropped 99.9% from that "confused" day, down 99.98% from ath, and is still down 99% from ath and 92% from "confused" day. How can anyone be that stupid? How did they survive to adulthood? What is mother nature natural selection doing? How will they survive if there is a catastrophy and governments fall? (spoiler: They won't) How can anyone be obsessed with money while at the same time being totally careless with it? How can they have the right to vote? Not only because they're too stupid to choose, but they'll pick the wrong name anyway. How can anyone be that delusional about their own abilities? "Why bother checking anything about the company TA tells you everything you need to know and this was a strong buy signal" 🤤 I dream of finding those investors and see them argue with me "If I'm stupid how come price went up" "I got in early" "Last time bears said and yet it went up" etc...
OTC:ZTNO
by MrRenev
7