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.

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