Reply to thread

Message: [QUOTE="bpo57, post: 3712874, member: 1572"] Nobody came out of this looking good. Robin Hood. Hedge funds that short 140% of the float of a stock. And stock message board types that appealed to retail investors greed by encouraging them to pay outrageous prices for a dog eared stock (GME) that should trade at fractions of what they paid for it. Just to stick it to the man. You can't make this sheet up. The pandemic has created a lot more retail investors as they day trade and speculate on crazy stocks like GME and AMC. AMC's bank debt trades at 80 cents on the dollar yet it had a market equity cap of $6 billion a few days ago. That's nuts. This type of behavior is usually indicative of a near term market top. At some point the FED is going to have to stop with the fire hose of new money as it's just encouraging crazy speculation. [/QUOTE]