FTSE & DOW slide because of Reddit users!

BananaRepublic

The BBC are reporting it:
https://www.bbc.co.uk/news/business-55837519

They say a 2% market drop is due to hedge funds selling to cover their losses, which sounds like a temporary blip. Serves them right.

Albermarle

I predict it will end in tears for many of the inexperienced people involved - From Shares magazine.
The forced purchase is known as a short squeeze and some investors in the US are now targeting heavily shorted stocks in the hope that a cocktail of hype and short sellers being forced to buy will turbocharge the share price. This is a very risky strategy which could backfire with disastrous consequences.

AnotherJoe

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!

Thats complete and utter twaddle.

MisterMotivated

Type_45 said:

Gamers on Reddit have shorted the market.

Sounds like how my 8 year old nephew might describe it.  But then, he'd have no clue what he was talking about

LHW99

Whatever the reason I got a few more IT shares at a price below what I was expecting to buy at - all good.

Ciprico

Is there a standard time limit on shorters, ie is there a predefined date when they have to "replace" the shares they borrowed, at any costs...
 There can be no doubt Gamestop will fall to a reasonable level at some point...
The tempatation to short Gamestop "now" must be tempting to those who play that game....

BananaRepublic

MisterMotivated said:

Type_45 said:

Gamers on Reddit have shorted the market.j

Sounds like how my 8 year old nephew might describe it.  But then, he'd have no clue what he was talking about

As long as they don’t deiete the internet we’re okay. 

Anyway, anyone with a hedge knows that in a harsh winter they can lose their leaves, leaving hedge funds owning rather shabby hedges. Come spring  and they’ll be fine. If Type_45 wants more sage advice, just ask. 

PS Would that user name refer to a Type 45 destroyer? 

Thrugelmir

All we need now is some bad news to totally unsettle already jittery markets..............

Type_45

BananaRepublic said:

MisterMotivated said:

Type_45 said:

Gamers on Reddit have shorted the market.j

Sounds like how my 8 year old nephew might describe it.  But then, he'd have no clue what he was talking about

As long as they don’t deiete the internet we’re okay. 

Anyway, anyone with a hedge knows that in a harsh winter they can lose their leaves, leaving hedge funds owning rather shabby hedges. Come spring  and they’ll be fine. If Type_45 wants more sage advice, just ask. 

PS Would that user name refer to a Type 45 destroyer? 

Yes it does.

BananaRepublic

Type_45 said:

BananaRepublic said:

MisterMotivated said:

Type_45 said:

Gamers on Reddit have shorted the market.j

Sounds like how my 8 year old nephew might describe it.  But then, he'd have no clue what he was talking about

As long as they don’t deiete the internet we’re okay. 

Anyway, anyone with a hedge knows that in a harsh winter they can lose their leaves, leaving hedge funds owning rather shabby hedges. Come spring  and they’ll be fine. If Type_45 wants more sage advice, just ask. 

PS Would that user name refer to a Type 45 destroyer? 

Yes it does.

Equipment manufacturer employee or serving on board?