MaryPoppinSomePillz t1_iuk8hvn wrote on October 31, 2022 at 11:31 PM

Absolutely moron. It was getting bought at a specific price, well known ahead of time, and you shorted it $10 below purchase price. Can't get more stupid

VisualMod t1_iuk7c0u wrote on October 31, 2022 at 11:22 PM

>I do not understand what you are trying to say.

Rhook-Dutch t1_iuk8l5y wrote on October 31, 2022 at 11:32 PM

My man out here pulling the equivalent in age of halle berry playboy edition loss porn

Edit: spelling

zxc123zxc123 OP t1_iuk7f77 wrote on October 31, 2022 at 11:23 PM

Unprotected shorts on TWTR in 2013 because I thought the company was memeshit, stock price overvalued, and knowing IPOs are generally insider dumps on retail.

Sadly, I underestimated how truly stupid markets can get or how short margin maintenance requirements were fully calculated. I never sold but broker closed me out (at the very top of course!).

Trade would have eventually worked out eventually if I knew about short margin maintenance and added more funds. Sucks since $17K 2013 money is a lot more than $17 2022 money. Also not counting the margin interest I owed. On the bright side, I got multiple years of short term capital losses for tax reduction.

TL;DR 600 TWTR shares shorted at $40 and margin called at $70 for a $17K loss.

This is PART 1/2. PART 2/2 still not settled yet.

AutoModerator t1_iuk7f80 wrote on October 31, 2022 at 11:23 PM

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Hungry-Interview9475 t1_iukb6dq wrote on October 31, 2022 at 11:52 PM

How !

wallstreetbetsdebts t1_iukbari wrote on October 31, 2022 at 11:53 PM

AutoModerator t1_iuk7b9c wrote on October 31, 2022 at 11:22 PM

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VisualMod t1_iuk7bjh wrote on October 31, 2022 at 11:22 PM

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