Whats the deal with /r/wallstreetbets and can Pakistani's benefit?

[Type59]

Damn so much money to be made in USA, i mean seriously if you are fuckin poor in USA... its all your fault.

Couldn't care enough if its declared halal or haram according to some scholar, i have my own brain to think if its right or wrong.

Hate the mentality people have, which you have. "poor are solely responsible for their plight"

 

[Death Professor]

Its a modern form gambling and Haram in Islam

Nopes, it isn't. It has more to do with hodling(modern form of hoarding) than to do with gambling.

 

[deathfromabove]

Wall Street is a casino and in a casino (rigged system) house always wins.... unfortunately

 

[jupiter2007]

I wanted to short Gamestop when it reached $500 but dishonest brokers won't allow it.

I think you can still buy GameStop and AMC but that doesn’t work, use trade option.

We should have a financial section to share info here. Money can be made easily with proper research.

Nope. I’ve made good money. And stocks are only one portion of my portfolio.

Please guide us. we need people to share their experiences and investment advice.

Stonks!!!

Meme based cryptocurrency "Dogecoin" surges 800% in 24 hours

After frustrating the Wall Street titans with GameStop and AMC stock surge, millennials are now campaigning to take parody cryptocurrency, Dogecoin “to the moon”. This has caused an 822% increase in the value of Dogecoin – a meme-based cryptocurrency that was started as a joke in 2013. “PUT YOUR...

dailytimes.com.pk

Meme based cryptocurrency “Dogecoin” surges 800% in 24 hours

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Qurat ul Ain Ali
JANUARY 29, 2021
After frustrating the Wall Street titans with GameStop and AMC stock surge, millennials are now campaigning to take parody cryptocurrency, Dogecoin “to the moon”.

This has caused an 822% increase in the value of Dogecoin – a meme-based cryptocurrency that was started as a joke in 2013.
“PUT YOUR LIFTOFF DIAPERS ON ITS ABOUT TO START,” a comment earlier on the Reddit community WallStreetBets said, as young traders prepared to buy GameStop options, causing the company’s stock to skyrocket at an insane rate.
Millinial nerds and gamers who spent a significant part of their lives buying consoles and playing video games, beat the Wall Street hedge funds by buying GameStop’s shares and urging other young adults to join them.
GameStop’s value went from extremely low to extraordinarily high. The company was forced by the pandemic to shut many of its stores in April 2020, with its stock reaching below $3 per share. After recovering a bit in September after investor Ryan Cohen rallied for the company. By mid January, the stock crossed a high of $30 per share, and this week it surpassed $373, crating a personal wealth of $2bn for the company’s largest shareholders.
Several TikTok investors and Redditors were barred by popular brokerage RobinHood, from trading stocks as they created an intentional disruption in stock market by causing the GameStop and AMC stock to skyrocket.
Their attention then shifted towards on Dogecoin. Several popular faces including Carole Baskin from Netflix’s Tiger King, made social media appearances to promote Dogecoin.
On Thursday evening, Tesla CEO Elon Musk, who has been promoting Reddit betting, shared a picture of a dog posing on the cover of “Dogue” magazine.
This diverted the attention of the millinial trading community towards Dogecoin and its value jumped up 50% within an hour.
The currency that has stayed at a low value of fractions of a cent, rose from $0.007681 at 8 p.m. Wednesday to over 0.082 by Thursday, raising the company’s market value to about $7 billion.
Dogecoin has now become the world’s 10th most valuable cryptocurrency.

It’s going to dip soon and that will be the time to buy it.

 

[Itachi]

Its a modern form gambling and Haram in Islam

Stocks & Options are halal as long as the company deals in halal products and doesn't have too much, or any debt at all.

Stocks & Options are calculated risks......there's pages of research that's done before buying calls or puts (options) or buying shares. Betting is gambling since it's a 50-50 thing.

For example, anyone with more than 2 brain cells knew that TSLA would go up....and it did. So, this does not fall under gambling and isn't haram.

Wall Street is a casino and in a casino (rigged system) house always wins.... unfortunately

We're not discussing wallstreet......normal people can't invest in wall street lol.

WallStreetBets is a sub-reddit....on the popular site known as Reddit. Look it up.

 

[Type59]

As widely predicted alot of people lost money.

'Roaring Kitty' GameStop investor hit with lawsuit

Keith Gill is being sued over claims he duped fellow investors into buying its shares last month.

www.bbc.co.uk

 

[The Accountant]

Stocks & Options are halal as long as the company deals in halal products and doesn't have too much, or any debt at all.

Stocks & Options are calculated risks......there's pages of research that's done before buying calls or puts (options) or buying shares. Betting is gambling since it's a 50-50 thing.

For example, anyone with more than 2 brain cells knew that TSLA would go up....and it did. So, this does not fall under gambling and isn't haram.


We're not discussing wallstreet......normal people can't invest in wall street lol.

WallStreetBets is a sub-reddit....on the popular site known as Reddit. Look it up.

If this is so obvious then why seller is engaging offering put option or call option? Is here to give his money to others? Its not a calculated gain. As u have no control over prices. I do no efforts for this gain. You make a bet based on your guess work. Sometime u win sometime u loose.

 

[That Guy]

As widely predicted alot of people lost money.

'Roaring Kitty' GameStop investor hit with lawsuit

Keith Gill is being sued over claims he duped fellow investors into buying its shares last month.

www.bbc.co.uk

The lawsuit has no merit.

It was all based on publicly available info, and he never claimed to be giving financial advice, or be their financial adviser/advisor.

If people were stupid enough to touch GME with money they couldn't afford to spend, then it's their own fault. There were plenty of indications telling them that GME is not a safe buy.

 

[Itachi]

If this is so obvious then why seller is engaging offering put option or call option? Is here to give his money to others? Its not a calculated gain. As u have no control over prices. I do no efforts for this gain. You make a bet based on your guess work. Sometime u win sometime u loose.

Calls & Puts is how it works. Idiots think of it as gambling and buy either.....professionals calculate the if it's gonna go up or not and buy either. Some buy both calls and puts, to be on the safe side. So no, it's not gambling if you buy both a Call & a Put, since no form of gambling offers such stuff.

You'll have to read the attached PDF to understand.


Everyone else is welcome to download the PDF and learn from it too. One of the best resources to study and learn about options from.

 

[The Accountant]

Calls & Puts is how it works. Idiots think of it as gambling and buy either.....professionals calculate the if it's gonna go up or not and buy either. Some buy both calls and puts, to be on the safe side. So no, it's not gambling if you buy both a Call & a Put, since no form of gambling offers such stuff.

You'll have to read the attached PDF to understand.


Everyone else is welcome to download the PDF and learn from it too. One of the best resources to study and learn about options from.

Mind your language man. Don't you have etiquates ? If someone is not agreeing to you then simply call him stupid, is this how to prove a point ? This is low ?

Gambling is also done by professionals, there is a huge industry of finance world wide and is haram. So this is not the criteria of haram and halal.

Criteria is simple, if you earn on your money without taking the business risk it is haram i.e.interest. on the other hand if you earn something based on a chance where outcome is not based on your efforts and control but based on speculated outcome then its haram.

This is the criteria. All based on speculation of unknown uncotrolable future events known to none. This is haram

 

[Riea]

I have been following this group for almost a year and half now years now and that was only for meme and that Truth is that walstreetbets group contributes nothing. There is no technical analysis, no group discussion, no financial advice whatsoever. All the do is yolo, pump, fomo and call each others retard and autistic. In my opinion tradeview for viewing technical analysis ( opinions ofcourse) is way better. Then again you shouldn't invest your money by reading someone's post on the internet but making money involves taking risks so...

 

[Figaro]

Wall Street is a casino and in a casino (rigged system) house always wins.... unfortunately

It depends on how you play it. Wall Street for the most part is definitely fairer than a casino ... if you put your money in an index or mutual fund, you can pretty much rest assured of 5 to 10% annualized returns. Can you say the same about a casino, where the most favorable odds for a player is Blackjack at 47% win rate?

As widely predicted alot of people lost money.

'Roaring Kitty' GameStop investor hit with lawsuit

Keith Gill is being sued over claims he duped fellow investors into buying its shares last month.

www.bbc.co.uk

To be fair, he made a lot of people a lot of money before it all came crashing down. Besides, he didn't sell most of his holdings either, which was at one point worth upwards of 50 million dollars.

 

[Riea]

BNB , as well as almost all other coins are on a stallment due to the Chinese New year... I have invested in Alpha and binance since 2 days but haven't made any money due to the market conditions.

It depends on how you play it. Wall Street for the most part is definitely fairer than a casino ... if you put your money in an index or mutual fund, you can pretty much rest assured of 5 to 10% annualized returns. Can you say the same about a casino, where the most favorable odds for a player is Blackjack at 47% win rate?

To be fair, he made a lot of people a lot of money before it all came crashing down. Besides, he didn't sell most of his holdings either, which was at one point worth upwards of 50 million dollars.

He actually sold 5million worth of gme arround the top. He posted his position when gme was arrpund 300$ with 5million of shares sold. If u want I can search that post for you.

 

[The Accountant]

It depends on how you play it. Wall Street for the most part is definitely fairer than a casino ... if you put your money in an index or mutual fund, you can pretty much rest assured of 5 to 10% annualized returns. Can you say the same about a casino, where the most favorable odds for a player is Blackjack at 47% win rate?

To be fair, he made a lot of people a lot of money before it all came crashing down. Besides, he didn't sell most of his holdings either, which was at one point worth upwards of 50 million dollars.

When someone compare stock market with gambling then he is not talking about long term investments in which returns are based on company business performance and country's economic performance.

Gambling is involved when someone is engaged in short selling, day trading, put and call options. All these transactions are risking your money based on your hunch about event unrelated to business performance of the underlying shares.

 

[Figaro]

When someone compare stock market with gambling then he is not talking about long term investments in which returns are based on company business performance and country's economic performance.

Gambling is involved when someone is engaged in short selling, day trading, put and call options. All these transactions are risking your money based on your hunch about event unrelated to business performance of the underlying shares.

Even those instruments I don't believe constitute gambling. It all depends on who is the person using them. If you don't do your research or don't have experience, then yes it may be gambling but to someone seasoned, it is a very good opportunity. People like Jim Chanos or Andrew Left made their careers short selling ... and they definitely put in the due diligence. The same thing goes for options trading. If you are buying a 1 week option in anticipation of earnings, then yes that is indeed a gamble. But if you buy longer term options, then I would say you definitely are basing the decision at least in part of the company's business performance.

He actually sold 5million worth of gme arround the top. He posted his position when gme was arrpund 300$ with 5million of shares sold. If u want I can search that post for you.

But the face value was over 50 million dollars I believe. At the very peak at 480 bucks, it was definitely even more. 5 million dollars is only 10% of his account value at the peak.