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The stock market is known for being unpredictable and volatile, and any sense of normalcy was blown up during the recent GameStop rally. Most of us know the story by now: After discovering that several hedge funds had bet on the video game retailer losing value, people banded together on the Reddit forum WallStreetBets to drive up its share price by 1,500%. Over the course of January, GameStop’s stock price ballooned to a high of $483 from a low of $17. The bubble already appears to be popping, with GameStop shares down to around $55 as of Friday.Still, the event is unlikely to be soon forgotten, experts say.
In many ways, the GameStop rally resembles bubbles of the past, but it has some unique characteristics, too, experts say. “What is new is the scale and speed of the event,” said Veljko Fotak, associate professor of finance at the University at Buffalo. The ubiquity of smartphones on which people can download investing apps, the availability of cheap or free trading and “a pandemic with a lot of restless energy,” are all factors that contributed to the video game retailer’s rally, said Dan Egan, vice president of finance and investing at Betterment. Populism spreading across the globe is yet another factor that fueled the bubble, Fotak said. “Some investors were motivated not just by pure greed, but also by a desire to ‘stick it to the man,’” he said.
Many people are also brought into the market these days when they see friends or people they follow on social media touting certain stocks, said David Sekera, chief U.S. market strategist at Morningstar. Some of these posts are very convincing: Users on Reddit, for example, were exchanging high-level analysis on GameStop’s finances. “The days that equity research was limited to the large, bulge bracket Wall Street firms is long past,” Sekera said. All of these events that propelled the GameStop bubble could spur many more.
“I do think that, to some degree, this herd Reddit movement is going to continue,” said Jason Reed, a finance professor at the University of Notre Dame. “We’ve already begun to see the movement into other equities and assets, like AMC, Blackberry and silver gaining considerable momentum.”
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Hi bet that company citadel that hedge fund I bet they waited for the stock of up to 450 whatever. Then went to and put it in short it and did whatever they had you to make that stocco down to see anybody no city dollar shortage again on the way down from the high number
i thought those big companies had to report their shorts like that 2015 jp morgan lawsuit with fintel
Bought another 50 shares today to even out my average, nows the waiting game fingers crossed for tomorrow??
Holding 88 shares at 12$
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The phishing scam
Fraudsters set up phishing (fake) websites that mimic the look and feel of the login pages of the trading platform offered by large stock brokers. These websites arn happen to click on these links which lead to fake websites that mimic the login pages of the trading platforms they are used to, where they enter their login credentials (username, password, PIN, and other bits of information). This is captured by the fraudsters, which they then use to login to the investor’s trading account to execute buy/sell transactions on illiquid scammy penny stocks or illiquid options contracts, generating a loss on the compromised account and a profit in theirs (counterparty to the scam orders). There are also many cases where scammy penny stocks are bought in customer accounts at a high price, shares that cannot be sold on the market as there would be no buyers.
Asa temporary fix, we had blocked trading by default in all illiquid risky contracts — stocks and options, and allowed trading in them only on specific instruction from the customer through the registered email address. We now have a permanent solution to this.
Mandatory TOTP when trading illiquid risky contracts
As a solution, we could potentially have made it mandatory for all our users to use a mobile or email OTP to login to Kite. But there is no guarantee that these OTPs are delivered on time. Since we’re in the business of trading where time is critical, we couldn’t take this chance, and so decided to use TOTP (explained below). Instead of asking mobile or email OTP on every login, we have made it mandatory to login using a TOTP if you want to trade in any risky scrips. We classify a scrip as “risky” if they are illiquid and can be used by fraudsters to create artificial losses in youriccount.
If you haven’t logged into Kite using TOTP and are trying to trade in these illiquid risky scrips, such orders will be rejected and the rejection message will ask you to set up TOTP to place the order. Setting up TOTP is a one-time task that adds security to your account. Then you simply need to login using this TOTP evebelothand will be allowed to place trades.
What is TOTP?
TOTP stands for “time-based one-time password”. Unlike a traditional OTP that is delivered to you via email or SMS, a TOTP is generated by a TOTP app that is already on your phone. This TOTP is valid only for a short duration (usually 30 seconds) and is regenerated every 30 seconds.
Read beloti learn how to set up TOTP to login on Kite.
How to setup TOTP?
Important: You will need to login on Kite web to set up TOTP. Once you set it up, you can login using this TOTP on web as well as mobile.
You can use apps like Google® Authenticator, Microsoft® Authenticator, or Authy on your mobile phone to generate 6-digit TOTPs for every login. The procedure to set it up is as follows:
Log into Kite, and click on your client ID on the top right-hand corner of the page and select ‘My Profile’ from the drop-down.￼
Click on ‘Password & Security’￼
Once you do, click on ‘Enable 2-step TOTP’￼
Enter the OTP received on your registered email ID.￼
Install Google® Authenticator (or Microsoft® Authenticator or Authy) on your phone. You can find this on the Play Store or iOs App Store.￼
Select ‘Scan a barcode’ under the add account option and click on ‘Begin’.￼
Allow access to your phone camera, and scan the bar code shown on the profile page on Kite. Once you scan it, the account will be added on your authenticator app. Enter the OTP shown on the app on Kite along with your password and click on ‘Enable’.￼￼
Once you click on ‘Enable’ you’ll get a notification confirming the TOTP set up.￼
You will have to enter the TOTP shown on your authenticator app instead of PIN from the next login onward.￼
What if you lose your phone or TOTP app?
If you lose your phone or are unable to access your TOTP app for any reason but need to log into your account, click on the “Forgot password” or “Forgot 2FA” link on the password or TOTP entry page and reset your account by following the steps explained here. This
Hello.. mere kite me chart show nahi kar raha h koi batayega esa kyon h pleasr...?
I am unable to find wealth saga in Apple store. is it only on android phones ?
Biofilchem liquid trade category ko zerodha kite se kese buy krege plss how to buy
Is there any last date of it.i am able to sell stock as of now
Thanks sir for explaining things in simple way ??
Total SA is the best Oil
Total SA is the best Oil company to buy for your portfolio. In this video, I have 11 good reasons why you should move your holdings for Oil into Total SA stocks. This analysis covers comparison between Shell and BP too.
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What are you doing uploading videos at 2am??
Thanks Alex, I’m a new subscriber and I’m really enjoying you’re videos.
They are informative but also fun.
Love it that you include your children.
As you’re a Shell stockholder, I was wondering what you’re thoughts are please?
I’m down almost £900, over 22%.
Worth holding still, or should I call it a day?
Alex's wife: WHERE IS MY COOKING OIL !!!!! : )
Hey Alex, thanks for the great video, on the green companies topic, would you do a video analysing companies that have a renewable energy focused strategy? I think after this pandemic, renewable energy and sustainable strategies will grow exponentially, thanks!
Love the videos I need to get tos to buy total. I very new to this learning a lot I bought 40 shares of gush at average of $24 it got to 43 once and I didn't sell if it gets to 43 again would you sell or hold out.
And you were so right about fiverr I kick myself when i didn't buy it at low 30's