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FTSE & DOW slide because of Reddit users!

My S&S ISA has indeed taken a hit today. And thats before FTSE has been affected.
Gamers on Reddit have shorted the market.
Check your balances!
«13456

Comments

  • I’d rather not. 
  • ChopperST
    ChopperST Posts: 1,257 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I'll be checking in April like every year.  If you are worried about a one day swing then you are invested well over your risk tollerance.
  • Type_45
    Type_45 Posts: 1,723 Forumite
    1,000 Posts Fifth Anniversary Name Dropper Combo Breaker
    ChopperST said:
    I'll be checking in April like every year.  If you are worried about a one day swing then you are invested well over your risk tollerance.
    I'm not in the least concerned - and I invest in VLS100.
  • webjaved
    webjaved Posts: 618 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    Type_45 said:
    My S&S ISA has indeed taken a hit today. And thats before FTSE has been affected.
    Gamers on Reddit have shorted the market.
    Check your balances!

    There is no need to panic.
    Save £12k in 2019 #154 - £14,826.60/£12k
    Save £12k in 2020 #128 - £4,155.62/£10k
  • ChopperST
    ChopperST Posts: 1,257 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Type_45 said:
    I'm not in the least concerned - and I invest in VLS100.
    Seems an odd post to make then?
  • Type_45
    Type_45 Posts: 1,723 Forumite
    1,000 Posts Fifth Anniversary Name Dropper Combo Breaker
    webjaved said:
    Type_45 said:
    My S&S ISA has indeed taken a hit today. And thats before FTSE has been affected.
    Gamers on Reddit have shorted the market.
    Check your balances!

    There is no need to panic.
    I've sold everything!
  • Utter nonsense, a few people on Reddit investing a few million dollars is literally drops in a puddle compared to funds like BlackRock with trillions in assets. What they are doing is screwing with an unethical practice (shorting) by raising the stock price forcing hedge funds to either stop shorting or take a (small) financial hit. More power to them I say, someone riding the train buying GME at $5 which is now worth $150 and making a profit (saw one guy spent $3m when the share was around $20, and now it's worth $20m) is playing the market just as the funds do. Your ISA dropped because of the hedge funds behaviour not because a handful of people beat the market temporarily.
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