Wow, my AMC stock is on fire!
I bought it originally at $16. Then the pandemic hit and it fluctuated between $2 and $6. I told everyone to keep buying it at 2 and sell it at 6. You could triple your money every week or two Now it's getting the Gamestop treatment. It went from $30 to the mid-60s today! They had to halt trading for a while this afternoon. I think I'll ride it up to $300 and then unload it.
rzemanfl
(30,288 posts)That's my unsolicited advice.
ColinC
(10,667 posts)bif
(23,971 posts)But it's only a small part of my portfolio. And if I lost it all, it wouldn't be a huge deal. Plus I played it safe with Tesla a couple years ago. I bought it at $200 and sold it at $280.Then it went up to $1,000, split and then climbed up again. Didn't lose money, but didn't make a lot either. So I'm going to take a chance and see where it goes over the next week or so.
rzemanfl
(30,288 posts)bif
(23,971 posts)I was a huge Star Trek fan growing up. I rarely review docs, but you never know!
rzemanfl
(30,288 posts)WA-03 Democrat
(3,267 posts)All time high at +$60 and doubling today and you believe it will hit $300 after a ride. What makes you think its going to go up $240? I didnt understand GameStop other then its a giant bubble. Tesla stock I consider the same.
Pantagruel
(2,580 posts)You might want to check what the "insiders" and officers of the firm are doing with their stock?
ColinC
(10,667 posts)And doesn't spend more than they can afford to lose on it.
WA-03 Democrat
(3,267 posts)And it is down to $45ish today. Its been the best performing US stock this year second only to GameStop. Lets assume it snaps back to $60.
I looked at AMC debt. Its not in a good spot. It is a meme Reddit stock for sure.
Where do you following the market and look for advice? I am interested in reading more and have played mania stocks in the past (dot.com boom). I had then and made it safer was what I thought was a good social internet group pitching ideas and strategies. It worked and I greatly benefited. I have no idea where these are discussed and which ones are better or best to watch.
ColinC
(10,667 posts)If it does a GameStop, I'm going to sell it and put it all back into dogecoin, which was largely depleted due to my wedding.
Sneederbunk
(15,094 posts)jimfields33
(18,837 posts)I bought at 9 dollars and bought a lot more at 12. Now its 30. Id love it to go to 300 or more. Lol.
TheRealNorth
(9,629 posts)If you already have stock in AMC it probably would be an opportune time to cash in.
Otherwise, you're just hoping a bigger fool will come along to buy the stock at a higher price.
ColinC
(10,667 posts)Trying to short it.
Tomconroy
(7,611 posts)The SPAC phenomenon and the crypto currency craziness may be enough to tank the market.
multigraincracker
(34,069 posts)Can I borrow five bucks?
Best_man23
(5,122 posts)Sold half the position this morning at $52. Risk is off and what's left is the house's money.
bif
(23,971 posts)I was considering doing that, but I always make conservative moves like that. And I often regret selling too soon. So I'll see if it makes another big runup. I looked at the Gamestop chart and I think I'll use that as an example. If I lose it all, oh well!
bif
(23,971 posts)So now I have 300 shares that I don't have to worry about. If it goes sky high I'm golden. But I think these meme stocks or whatever you want to call them are going to be short lived. But that's what I said about bitcoin too!