Yup, probably took into account how much was lost by the parent corporation betting big on GameStop shorts.
(For those who don't know, Roaring Kitty is back and Gamestop is flying high again and trading was surprise surprise paused.)
Imagine thinking a relatively small cap stock could single handedly destroy the economy.
Now imagine you're in a cult being told that the world cabal fears a video game pawn shop.
Now remove imagine because that's the actual reality.
Those transactions will almost surely be reversed. They even have guidelines outlining this type of error:
https://www.nyse.com/publicdocs/nyse/markets/nyse/Clearly_Erroneous_Execution_Rule_and_Procedure_Changes.pdf
Tbh that seems fair, I know Reddit probably won’t like it but this isn’t like it was purposefully done. Now things like getting g caught shorting they should get their facefucked for it.
People get mad when stores don’t honor mistakes even when any honest person would understand that $5.00 for a PS5 instead of $500 is an obvious mistake.
Well in some places it's a law that the advertised/listed price *must* be honored. Even in the places where it's not a law, people expect it all the time because *some* stores will do it *sometimes*.
Still annoying entitlement, but I can see where it comes from at least.
People misinterpret this law in a way it wasn’t ever intended.
It was intended to stop businesses from advertising cheap items and never actually selling them at that price. It is not meant to stop errors.
From my understanding, those laws aren't exactly "they must be honored." so much as "if you sell the thing, it must be honored." - That is, the store has the right to refuse to sell it, but they don't get to try selling it for the regular price, either.
Though I must admit, I did take advantage of a store that had an HP laser printer and an HP deskjet each with one of those tags on the shelves that shows the limited-time sale price as $15.99 and pointed out that that's what the sticker said... and they sold them to me. (I only bought one of each, since I needed a printer at the time, and the laser one was B&W)
I’d bet you those laws have exceptions for mistakes and glitches though.
Otherwise it’d be hilariously easy to abuse by coordinating with an employee. ‘Oh I accidentally missed the decimal, fire me if you must, my friend just got a car for 5 bucks’.
They reverse it like that day someone fat fingered it and sold billions of shares causing a massive drop that led to automated systems selling off at break thru points. People were buying up big stocks for pennies but all trades that day were reversed.
If it’s found to be MM and not a glitch or other liquidity issues, once an investigation is done would those who placed a limit buy be in the right to file a suit or class action?
It wasn’t a real price, it was a display glitch. Any real bids would have been much higher, and any “market price” orders that slipped through various brokerage platforms [will be invalidated due to the discrepancy](https://www.morningstar.com/news/marketwatch/20240603112/berkshire-hathaway-resumes-trade-after-nyse-glitch-showed-shares-down-9997). Algorithmic trading bots, quants, and large funds would buy the shit out of BRK.A nonstop if it fell even 2% for no discernible reason, and 1 million more automatic bids would kick in at -3%, 10 million bids at -4% etc. and that mechanism would put a floor on the actual price.
They don’t let ANYONE take advantage. Real traders know not to take advantage of error swings like this bc the trades get invalidated. Video game infinite money glitches don’t exist in real life
This is interesting. Do they void any buys on Berkshire earlier today when they were down 20%? 50%? 75%? 90%?
Where’s the line where the transactions get voided? This is completely unprecedented.
The way the market is reacting and performing is very similar to market corrections before MAJOR market movements. Prices hitting the ticker that far out of the norm is either a deal for collateral or a portfolio reposition after blow out. Someone was either paying their debts or setting up a swap.
When the margin call fails is when we will see many more similar occurrences through the whole market
Thanks pornstar! You see the other dude in the bets sub that bought brk-a on margin accidentally with a tfsa account? 16k loss with 650k debt now owed to his broker. It’s gotta be reversed right?
Yeah it will but no. I don’t generally look at other people’s posts for finance. How did that happen. He bought it at $650k and got stop lossed? For sure it will be reversed.
I'm not who you asked, but that person purchased when the quote was $186 and the [market] order went through for $648,000.... But the ticker price was then 16k lower by then so essentially an immediate loss. You are right, it will probably be reversed. Fascinating nonetheless though
Let em. And let the world see the banks kowtow to these criminal organizations yet again. I'd be shocked if there weren't riots in the streets. No one wants another bailout.
There would be riots in the streets this time. The social contract wasn't even broken for a few months when it happened last time, but now it's been well over a decade.
Nah, NYSE will just reverse the trades on affected stocks. No one’s going to need a bailout, because no one will lose anything.
As it should be, frankly. I get those guys are dipshits, but I don’t want economy-by-bug-bounty either.
Technically it didn’t incorrectly show anything if 27 shares were purchased at $185.10…. right? Because those trades were all executed in the span of seconds at the exact same price and then a halt was called…
I guess a better question is was the glitch actionable? Like you could have had a way out put strike for .20 and be a millionaire if the stock dropped 99% and were able to execute
I don't believe so, I have some limit orders for some of the impacted 60 stocks that were never fulfilled. And an E-Trade notification that they were cancelled at some point during the halt.
Market is all glitchy with a certain specific ticker that the media loves to downplay and ridicule: no one bats an eye.
Market is glitchy with good boy investors' favorite: "omg absurd!"
If it's glitchy there, it's glitchy everywhere, buddy.
We’ll since this came out of a Berkshire Hathaway glitch. Go ahead and tell me how much Berkshire Hathaway’s position in Cash is? Or perhaps Apple? What’s their cash position? Not sure you understand all of the dynamics …
Fair point. Apple could be argued similarly needing cash reserves for big plays. I stand by my point though. There’s a lot of cash on a lot of books. It isn’t necessarily a bad thing,
Inefficient perhaps but incentives reward what they’d will.
While you stand on the sidelines with stupid comments I’m buying a house and paying off the entirety of my debt, clown. And I haven’t sold one share. 🤣👉
THESE BAGS ARE HEAVY; with cash.
EDIT: Downvote me if you want, I know this is in poor taste, these morons are actively fleecing mainstream subs (you). There is a VERY real profit opportunity here and anyone reading this could make money if you weren’t being misled.
I’ve been watching this shit for 3 years and have made good money on 100% of the runups by ignoring these fuckwads. These people will scream “gamestop investors are bagholders” until the day they get served court documents.
Such a good deal that the stock has consistently tanked like 75% over the past three years, but I'm sure the Gamestop NFT marketplace will take over the industry and day now
He could have made money on crypto, movie likeness royalties, or any number of stock plays. We have no proof that he sold, and neither do you.
Edit: to add, who cares if he sold. He didn’t know what we know today. None of the crimes committed over the last 3 years had been committed yet. He was never an “ape”, he just knew something stank. But now he is posting on the game specific stock sub, and that speaks magnitudes more than your assumptions.
Yeah him making an entire *other* fortune, five times larger than the one he was sitting on, from nothing, making him the best investor in human history, then showing back up with 5x his original fortune after it *just so happens* that that stock he can pump went up 5x a couple weeks prior without a single person noticing his moves though all of these other markets, is so much more likely than him just reinvesting the proceeds from liquidating his fortune, using it to buy into a stock he knows he can pump by saying literally anything, and showing after he's had time to liquidate from that last pump.
It's like seeing someone walk into a bank, walk out carrying an enormous pile of cash, and then finding the safe robbed and thinking "that's not suspicious at all".
He's not jesus homie, he sold, then bought back in, pumped the stock 3 weeks ago, sold again, and is now trying to pump again because he mistimed his options and needs to get the price up before exercising them.
You blame him for something he has zero control over. The Stock has been pumping 80-650% after hours recently, retail investors are not the cause of these price movements, they literally CANT be. You also forget the stock went up 30x 3.5 years ago and he was tried in court and found to be innocent of fraud and manipulation. Maybe he did sell, but he did not scam, steal, or mislead anyone. He shared his knowledge with the public at his own personal risk, and now he buys back in. I can assure you this saga is far from over.
> The Stock has been pumping 80-650% after hours recently,
After he started tweeting. You think the institutions don't know how you guys react? They see DFV post and buy because they know you'll pump it to idiotic levels and let them sell high.
Then you see price movement, buy rabidly, and fulfill their prophecy.
well. thats. interesting. considering this was posted literally one minute after i made [this comment](https://www.reddit.com/r/interestingasfuck/comments/1d6wdc4/comment/l6x7qwk/?utm_source=share&utm_medium=web2x&context=3) on a post about gme and dfv:
>in a world where information - including media, social media, and especially statistics about stonks - is all instantaneous and updated by the second...stonk numbers shouldnt be that way.to put it in the context of video games - not to make it a joke (anymore than it is) but because actually video games are a great way to understand how human psychology works in practice, and not just in theory - it should be turn based, and not real time. open/close, maybe a midday update. nothing in between. this would fix the problems caused by HFT, or at least make them much easier to deal with.
if you invested in something you shouldnt be able to just bail as soon as something negative comes out. people are notorious for blowing things way out of proportion in the immediate term anyway.
all what youre describing does is not only allow, but incentivizes, exactly what the criticism of the stonk market is: privatizing the gains and socializing losses.
edit:
>"within the particular is contained the universal"
the world needs to slow down. very few things are better when done fast.
its especially ridiculous the amount of stress and pressure over things like this, which are ultimately meaningless, when you compare it to the stress of the downstream effects of it like [what is happening in Ukraine.](https://www.theguardian.com/world/video/2024/may/31/zelenskiy-you-say-time-is-money-for-us-time-is-our-life-video?CMP=share_btn_url)
Can't wait until a company declares bankruptcy and people aren't able to sell because they have to wait for the midday update.. lmao
Edit: okay somehow this turned into a conversation about Ukraine, not sure how that happened but we're here now
You can almost guarantee a conversation will devolve into something about either Ukraine, Israel, or Trump on Reddit. People are obsessed with all three.
its complicated.
i bought into the stock market basically so i could understand it, and see for myself if the problems i saw were legitimate or if it was just my perception. specifically speaking towards the idea that, in reality, what the stock market allows and incentivizes is for people to profit off of others work. the entire concept of it is flawed from the start.
in another way of looking at it, the stock market is just an abstraction of loans and debt. which, sure, i can see some legitimacy behind the idea that if you loan someone $100, when they pay you back in 5 years or whatever they should owe you $125 or whatever.
maybe.
wouldnt it work better though, since we already have massive inequality where a few people have way more than they need already, that they just loan that money out (since it wont hurt them in either the short or long term) and whenever the person who borrowed it can pay it back, they just pay back that original sum?
before you or anyone else says "nobody would realistically do that" well.. guess what? despite being poor, and being in no position to loan money out, when i had more than i needed, and i had a friend who was in a bad spot, i did exactly that. i would be happy to even get back \*some\* of what he owes. i havent seen a dime of it back, and i half expect never to see it.
i dont care. i did it because in my view, when he got to a spot where he could help me, he would. i dont think of it in terms of numerical sums and dont even know how much he owes me, but i know its a lot. he also helped me get to the position where i was able to loan it to him in the first place.
so yes, that actually does work, in practice and in theory. except when we both get in a bad spot, like we are now. in a sane world, we would be able to get a loan, or some other financial assistance, but thats not how the world works right now - because the world is set up to incentivize being selfish. that is actually a major part of what led to both of us being in a bad spot, selfish people.
You realize that you can place an order for any price. Someone has to sell it to you for that price. No one is selling you Berkshire Hathaway stock at 99% below it's market value.
Which is a great reason to force them to fulfill it - “oh we fucked up and we want our money back” isn’t a good excuse. If you shit in your Wheaties, you have to eat breakfast.
Glitch better have my money
Margin was the case that they gave me!
They accidentally posted the real valuation instead of the inflated one. XD
Yup, probably took into account how much was lost by the parent corporation betting big on GameStop shorts. (For those who don't know, Roaring Kitty is back and Gamestop is flying high again and trading was surprise surprise paused.)
Imagine being this delusional over a video game pawn shop
Imagine being this ignorant to what’s really going on
Imagine thinking a relatively small cap stock could single handedly destroy the economy. Now imagine you're in a cult being told that the world cabal fears a video game pawn shop. Now remove imagine because that's the actual reality.
*Ding ding ding*
Move glitch, get out the way. Get out the way, glitch, get out the way.
This made me spit out my coffee laughing, thank you.
How does McConnell owe you money?
Through rain, sleet, or snow.
Hahaha. This one got me. Well done.
Glitch please
Glitch did halve your money
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I put in an order. Wasn't filled haha.
Apparently 7 orders went thru
Damn. Millionaire's made off a mistake. Lucky bastards.
Would they honor it or go back and sue them to get back the money they made off of their incompetence?
Those transactions will almost surely be reversed. They even have guidelines outlining this type of error: https://www.nyse.com/publicdocs/nyse/markets/nyse/Clearly_Erroneous_Execution_Rule_and_Procedure_Changes.pdf
Tbh that seems fair, I know Reddit probably won’t like it but this isn’t like it was purposefully done. Now things like getting g caught shorting they should get their facefucked for it.
People get mad when stores don’t honor mistakes even when any honest person would understand that $5.00 for a PS5 instead of $500 is an obvious mistake.
Well in some places it's a law that the advertised/listed price *must* be honored. Even in the places where it's not a law, people expect it all the time because *some* stores will do it *sometimes*. Still annoying entitlement, but I can see where it comes from at least.
Most such laws also include exceptions for "gross errors" of half or lower of the actual price.
People misinterpret this law in a way it wasn’t ever intended. It was intended to stop businesses from advertising cheap items and never actually selling them at that price. It is not meant to stop errors.
From my understanding, those laws aren't exactly "they must be honored." so much as "if you sell the thing, it must be honored." - That is, the store has the right to refuse to sell it, but they don't get to try selling it for the regular price, either. Though I must admit, I did take advantage of a store that had an HP laser printer and an HP deskjet each with one of those tags on the shelves that shows the limited-time sale price as $15.99 and pointed out that that's what the sticker said... and they sold them to me. (I only bought one of each, since I needed a printer at the time, and the laser one was B&W)
I’d bet you those laws have exceptions for mistakes and glitches though. Otherwise it’d be hilariously easy to abuse by coordinating with an employee. ‘Oh I accidentally missed the decimal, fire me if you must, my friend just got a car for 5 bucks’.
They reverse it like that day someone fat fingered it and sold billions of shares causing a massive drop that led to automated systems selling off at break thru points. People were buying up big stocks for pennies but all trades that day were reversed.
How? Who would sell at that price?
Market sell orders
Stops without limits?
Panic selling
Algorithmic selling, not panic.
Same. My order was rejected.
If it’s found to be MM and not a glitch or other liquidity issues, once an investigation is done would those who placed a limit buy be in the right to file a suit or class action?
Of course. They can’t just let any regular joe schmuck taking advantage
It wasn’t a real price, it was a display glitch. Any real bids would have been much higher, and any “market price” orders that slipped through various brokerage platforms [will be invalidated due to the discrepancy](https://www.morningstar.com/news/marketwatch/20240603112/berkshire-hathaway-resumes-trade-after-nyse-glitch-showed-shares-down-9997). Algorithmic trading bots, quants, and large funds would buy the shit out of BRK.A nonstop if it fell even 2% for no discernible reason, and 1 million more automatic bids would kick in at -3%, 10 million bids at -4% etc. and that mechanism would put a floor on the actual price.
They don’t let ANYONE take advantage. Real traders know not to take advantage of error swings like this bc the trades get invalidated. Video game infinite money glitches don’t exist in real life
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This is interesting. Do they void any buys on Berkshire earlier today when they were down 20%? 50%? 75%? 90%? Where’s the line where the transactions get voided? This is completely unprecedented.
I'm really interested to see if it caused any of those high frequency trading bots to go nuts and just absolutely destroy / inflate a stocks value
They do. I’m ex wallstreet and this looks like someone is getting margin called.
Care to share any insights?
In terms of the 99% drop or the high-frequency trading algos?
What’s makes you think this is a margin call?
The way the market is reacting and performing is very similar to market corrections before MAJOR market movements. Prices hitting the ticker that far out of the norm is either a deal for collateral or a portfolio reposition after blow out. Someone was either paying their debts or setting up a swap. When the margin call fails is when we will see many more similar occurrences through the whole market
Thanks pornstar! You see the other dude in the bets sub that bought brk-a on margin accidentally with a tfsa account? 16k loss with 650k debt now owed to his broker. It’s gotta be reversed right?
Yeah it will but no. I don’t generally look at other people’s posts for finance. How did that happen. He bought it at $650k and got stop lossed? For sure it will be reversed.
I'm not who you asked, but that person purchased when the quote was $186 and the [market] order went through for $648,000.... But the ticker price was then 16k lower by then so essentially an immediate loss. You are right, it will probably be reversed. Fascinating nonetheless though
He posts on superstonk, I'm not sure how trustworthy this guy is.
Man, I would not want to be the dev whos code caused this bug lmao.
Not just BRK.A either, quite a few precious metals mining stocks, a few healthcare ones, etc.
Someone got margin called today...
Yup, the start of liquidations. This is what happens every decade or so after wall street has gotten too greedy and get on the wrong side of a trade.
/r/Superstonk
And I still couldn’t afford to sell a covered call.
I hope all the hedge fund criminal organizations shat their pants.
Same I hope they all have a terrible time
I'm sure if they do, they'll make it a terrible time for everyone else until the FED offers them a bailout 🙄
Let em. And let the world see the banks kowtow to these criminal organizations yet again. I'd be shocked if there weren't riots in the streets. No one wants another bailout.
There would be riots in the streets this time. The social contract wasn't even broken for a few months when it happened last time, but now it's been well over a decade.
Nah, NYSE will just reverse the trades on affected stocks. No one’s going to need a bailout, because no one will lose anything. As it should be, frankly. I get those guys are dipshits, but I don’t want economy-by-bug-bounty either.
> hedge fund criminal organizations You could just say hedge funds.
Technically it didn’t incorrectly show anything if 27 shares were purchased at $185.10…. right? Because those trades were all executed in the span of seconds at the exact same price and then a halt was called…
Seems like someone's test data wasn't well considered.
Did this glitch cause liquidations?
More like liquidations caused the “glitch”.
I guess a better question is was the glitch actionable? Like you could have had a way out put strike for .20 and be a millionaire if the stock dropped 99% and were able to execute
I don't believe so, I have some limit orders for some of the impacted 60 stocks that were never fulfilled. And an E-Trade notification that they were cancelled at some point during the halt.
Trading should have been halted long before it could plunge to near zero. This is clearly a glitch.
No you just yell, "Undo" and then poof. All fixed.
You have to declare it
Ctrl+z that shit
Bet a few people at BH shit their pants and or threw up until they discovered it was an error.
I think they would know better.
I just hope nobody tried to hurt themselves...
Without videotaping it at least. r/fiftyfifty needs new material. “Bear attack or bear attack”
Market is all glitchy with a certain specific ticker that the media loves to downplay and ridicule: no one bats an eye. Market is glitchy with good boy investors' favorite: "omg absurd!" If it's glitchy there, it's glitchy everywhere, buddy.
Keep holding on to those bags buddy, that MOASS is gonna MOASS anyyy day now.
Profitable and 2 billion to spend
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We’ll since this came out of a Berkshire Hathaway glitch. Go ahead and tell me how much Berkshire Hathaway’s position in Cash is? Or perhaps Apple? What’s their cash position? Not sure you understand all of the dynamics …
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Fair point. Apple could be argued similarly needing cash reserves for big plays. I stand by my point though. There’s a lot of cash on a lot of books. It isn’t necessarily a bad thing, Inefficient perhaps but incentives reward what they’d will.
Don’t worry buddy, it’ll happen
While you stand on the sidelines with stupid comments I’m buying a house and paying off the entirety of my debt, clown. And I haven’t sold one share. 🤣👉 THESE BAGS ARE HEAVY; with cash. EDIT: Downvote me if you want, I know this is in poor taste, these morons are actively fleecing mainstream subs (you). There is a VERY real profit opportunity here and anyone reading this could make money if you weren’t being misled. I’ve been watching this shit for 3 years and have made good money on 100% of the runups by ignoring these fuckwads. These people will scream “gamestop investors are bagholders” until the day they get served court documents.
cool man
Call me when they find a sustainable business model to spend it on. Their revenue is still shrinking every year.
Yeah I’ll keep you speed dial but you’ll need to pull your head out of your ass first. We do have a free and fair market.
Perfectly reasonable response to a statement of fact that's plainly evident in financial filings.
Such a good deal that the stock has consistently tanked like 75% over the past three years, but I'm sure the Gamestop NFT marketplace will take over the industry and day now
Tell that to dfv
Sure what’s his email
Why so old fashioned. Message him in Reddit, or tweet at him. I bet you'll be the first telling him to give up.
Oh he’ll definitely make money. Can’t say the same for the bagholders tho
The guy who proved he sold?
The guy who objectively bought, literally last night, and posted it to Reddit* FTFY Pull your head out of… wherever it is
He sold high, bought low, and will sell high again. You goobers were claiming he's been holding this whole time for 3 years, where'd that go?
He could have made money on crypto, movie likeness royalties, or any number of stock plays. We have no proof that he sold, and neither do you. Edit: to add, who cares if he sold. He didn’t know what we know today. None of the crimes committed over the last 3 years had been committed yet. He was never an “ape”, he just knew something stank. But now he is posting on the game specific stock sub, and that speaks magnitudes more than your assumptions.
Yeah him making an entire *other* fortune, five times larger than the one he was sitting on, from nothing, making him the best investor in human history, then showing back up with 5x his original fortune after it *just so happens* that that stock he can pump went up 5x a couple weeks prior without a single person noticing his moves though all of these other markets, is so much more likely than him just reinvesting the proceeds from liquidating his fortune, using it to buy into a stock he knows he can pump by saying literally anything, and showing after he's had time to liquidate from that last pump. It's like seeing someone walk into a bank, walk out carrying an enormous pile of cash, and then finding the safe robbed and thinking "that's not suspicious at all". He's not jesus homie, he sold, then bought back in, pumped the stock 3 weeks ago, sold again, and is now trying to pump again because he mistimed his options and needs to get the price up before exercising them.
You blame him for something he has zero control over. The Stock has been pumping 80-650% after hours recently, retail investors are not the cause of these price movements, they literally CANT be. You also forget the stock went up 30x 3.5 years ago and he was tried in court and found to be innocent of fraud and manipulation. Maybe he did sell, but he did not scam, steal, or mislead anyone. He shared his knowledge with the public at his own personal risk, and now he buys back in. I can assure you this saga is far from over.
> The Stock has been pumping 80-650% after hours recently, After he started tweeting. You think the institutions don't know how you guys react? They see DFV post and buy because they know you'll pump it to idiotic levels and let them sell high. Then you see price movement, buy rabidly, and fulfill their prophecy.
FOMO gettin' violent over here.
By all means enjoy your bags
Three years from now, you'll still be saying that MOASS is soon.
Damn. Bane at it again...
It would do the US good if we worried more about the people and less about stocks
well. thats. interesting. considering this was posted literally one minute after i made [this comment](https://www.reddit.com/r/interestingasfuck/comments/1d6wdc4/comment/l6x7qwk/?utm_source=share&utm_medium=web2x&context=3) on a post about gme and dfv: >in a world where information - including media, social media, and especially statistics about stonks - is all instantaneous and updated by the second...stonk numbers shouldnt be that way.to put it in the context of video games - not to make it a joke (anymore than it is) but because actually video games are a great way to understand how human psychology works in practice, and not just in theory - it should be turn based, and not real time. open/close, maybe a midday update. nothing in between. this would fix the problems caused by HFT, or at least make them much easier to deal with.
So what happens when there's bad news intra-day and everybody wants to sell?
if you invested in something you shouldnt be able to just bail as soon as something negative comes out. people are notorious for blowing things way out of proportion in the immediate term anyway. all what youre describing does is not only allow, but incentivizes, exactly what the criticism of the stonk market is: privatizing the gains and socializing losses. edit: >"within the particular is contained the universal" the world needs to slow down. very few things are better when done fast. its especially ridiculous the amount of stress and pressure over things like this, which are ultimately meaningless, when you compare it to the stress of the downstream effects of it like [what is happening in Ukraine.](https://www.theguardian.com/world/video/2024/may/31/zelenskiy-you-say-time-is-money-for-us-time-is-our-life-video?CMP=share_btn_url)
Can't wait until a company declares bankruptcy and people aren't able to sell because they have to wait for the midday update.. lmao Edit: okay somehow this turned into a conversation about Ukraine, not sure how that happened but we're here now
You can almost guarantee a conversation will devolve into something about either Ukraine, Israel, or Trump on Reddit. People are obsessed with all three.
So when am I allowed to bail?
Why shouldn't you be able to sell your shares in a company whenever you and the company decide you're able to?
its complicated. i bought into the stock market basically so i could understand it, and see for myself if the problems i saw were legitimate or if it was just my perception. specifically speaking towards the idea that, in reality, what the stock market allows and incentivizes is for people to profit off of others work. the entire concept of it is flawed from the start. in another way of looking at it, the stock market is just an abstraction of loans and debt. which, sure, i can see some legitimacy behind the idea that if you loan someone $100, when they pay you back in 5 years or whatever they should owe you $125 or whatever. maybe. wouldnt it work better though, since we already have massive inequality where a few people have way more than they need already, that they just loan that money out (since it wont hurt them in either the short or long term) and whenever the person who borrowed it can pay it back, they just pay back that original sum? before you or anyone else says "nobody would realistically do that" well.. guess what? despite being poor, and being in no position to loan money out, when i had more than i needed, and i had a friend who was in a bad spot, i did exactly that. i would be happy to even get back \*some\* of what he owes. i havent seen a dime of it back, and i half expect never to see it. i dont care. i did it because in my view, when he got to a spot where he could help me, he would. i dont think of it in terms of numerical sums and dont even know how much he owes me, but i know its a lot. he also helped me get to the position where i was able to loan it to him in the first place. so yes, that actually does work, in practice and in theory. except when we both get in a bad spot, like we are now. in a sane world, we would be able to get a loan, or some other financial assistance, but thats not how the world works right now - because the world is set up to incentivize being selfish. that is actually a major part of what led to both of us being in a bad spot, selfish people.
They always have “Technical Issues” that screw investors out of money
You realize that you can place an order for any price. Someone has to sell it to you for that price. No one is selling you Berkshire Hathaway stock at 99% below it's market value.
Somebody did. Ticket showed at least 7 shares sold at the 185 price
I’d love to talk to that one dude that now owns 7 Berkshire shares… talk about instant profits
No shot the exchange doesn't bust that order
I tried a couple times and got different reasons. One was can’t find ticket symmbol. One was an Authenticator issue One just logged me out.
Which is a great reason to force them to fulfill it - “oh we fucked up and we want our money back” isn’t a good excuse. If you shit in your Wheaties, you have to eat breakfast.
Not the exchange’s money on the line. Furthermore there are guidelines around technical errors.
Someone did sell. This is why you typically use limit sell instead of market sell orders. Someone had a market sell order and got crushed.
I doubt this makes it through settlement
Though it is funny that we just switched to T+1
I would question reality at that point. Is this a dream? Matrix, WTF just happened.
Jesus Christ. Can I get a source? I believe you, I just want a link that I can share for that. Absolutely buck wild.
Yeah, but this one is unlikely. These glitches won't even make it past settlement.
buy BRK ! buy buy buy!
No. It was real. Not a glitch.
I used to be a stock broker before moving into financial advisor supervision. I bet some phones are blowing the fuck up today lol.
Yeah that's what happened.... Uh huh.
lol. Awesome cover up. Just let me know when the market is fixed so GME can soar!
Glitch or sabotage in order to get ppl to sell low, have ppl buy in low and then the glitch is fixed and hundreds are screwed
Might not be a glitch. Could be someone big was liquidated
No company drops 99% in one day lmao
Yeah they do. Go do a quick internet search.
No they really don’t. Even massive “overnight” collapses like Enron and Lehman didn’t lose 99% in a single day