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AutoModerator t1_iuk7b9c wrote

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VisualMod t1_iuk7c0u wrote

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

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zxc123zxc123 OP t1_iuk7f77 wrote

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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MaryPoppinSomePillz t1_iuk8hvn wrote

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

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Rhook-Dutch t1_iuk8l5y wrote

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

Edit: spelling

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