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FTSE & DOW slide because of Reddit users!
Type_45
Posts: 1,723 Forumite
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!
Gamers on Reddit have shorted the market.
Check your balances!
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I’d rather not.2
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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.4
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If there is a drop then it has come just in time for my monthly deposit! Nice!
If you want to be rich, live like you're poor; if you want to be poor, live like you're rich.8 -
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!
Reddit users have purchased a significant number of Gamestop shares, putting the squeeze on those who have shorted those shares. This mainly affects hedge funds, and has no significant broader implications to the markets.
The markets are more likely to be down a little today due to problems coming to light with the vaccine rollout in the developed world.I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.15 -
Futures are predicting that the Dow will open at 30k wiping away a couple of months gain.Markets were getting too hot and needed a pullback so it's not a bad thing.As expected our higher quality investments are still doing well.We have around £3k going into trackers in the next few days so am happy to see prices lower.Investing is for the long term and volatility is part of the process. No need to panic sell.7
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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.2
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