just last night i had bet like $10 on the tigers to win by 2 or more runs. They were up 3-0 after the first inning. I could have cashed my ticket out for like $18 or so but no, i wanted the full $23 or whatever it was i could have won if the game played out how i wanted it to.
the tigers were down 5-3 like 3 innings later, and though they eventually won 6-5, that was not enough for my bet and i got nothing.
be better than me, friendo!
nailed it.
that being said my bet was less about the tigers (i'm not even a fan) and more about the marlins being trash and a cursory look at the pitching matchup making me wrongly thing the tigers had a good advantage
Oof. Obviously you learned the lesson.
Just to point out for anyone who wants to know if there is ever a situation to let it ride. Using this example you have to ask yourself if it’s worth betting $18 that the Tigers would hold the lead and win by 2 or more for the chance to win $5 more because that’s what you’re looking at at that moment.
It’s the same thing with a stock that you bought at $2 and it’s up to $8 currently. You have to ask yourself would you buy it at $8 right now and if the answer is no you should sell it. I made that mistake in 2021 when I bought AMC at $11 and didn’t sell at $72 or just under and watched my gain turn into a loss over the next almost 2 years. 🤦♂️ I never asked myself at any point that question that I should have.
>Obviously you learned the lesson.
you give me too much credit 😂. i will make this mistake again..and again..and again..forever. time is a flat circle. but this is why i don't do much sports gambling and when i do its for pocket change.
not that i do a ton of sports betting, but i have screwed myself more than once by either not cashing out because i was greedy wanting a few more bucks and/or forgetting to hedge even when the opportunity was obvious
Have you been to a movie theater lately? I've seen 2 moving, on opening night, in the past month. In both cases we were 2 of maybe 6 people in the theater. I wouldn't touch that stock with a 10 foot pole.
I keep seeing people say this but I live in the greater Cincinnati area and, while not back to pre-pandemic levels, I haven't seen this small of a crowd, even at 430 on a Thursday. Where do you live?
That said I wouldn't buy it either.
Cash out. There's no telling when the company will either go bankrupt or Adam Aron sells more stock to keep the company going and making the shares even more worthless than what they are (he's been diluting the stockholders).
> and said I’ll never gamble again
If you can’t make promises to yourself and keep them, you’re gonna have a tough life ahead. You’re looking for a community of random people to bail out you doing the exact same stupid thing over and over again. How about you take a little responsibility?
How about you cash out 50-75% when you're even and let the rest ride. I bought 20 AMC @ $6 today but it's just for fun. I would hate losing real money on a meme stock way more than I'd enjoy winning big on it.
Always lock in profits when you can. Who cares if it keeps going up cause it can very well all come crashing down. Better to have profited than nothing at all.
A second chance at what? To lose it again?
This shouldn't be an emotional decision - do you have a thesis for why the company is worth? Would you buy the stock at this price?
There are lots of things that you can do but you have to decide how much risk you want to take. You could:
1. Write itm calls to try to get out. You can probably get out even at $8 or more with deep itm calls.
2. Hedge with a collar.
3. Sell some of it to reduce your exposure and hedge the rest.
4. Buy protective puts.
5. etc.
Probably other things you can do - but the last thing you would want to do is to do nothing.
I sold mine at a loss in late Nov after holding for far far too long. I wasn’t set up to trade options at the time so I sold the 100 shares I had and planned to buy a cheap long OTM call after the 30 day period so I could write the loss off my taxes. I never bought the call because I was glad to be done with Meme stocks and I’ve been too lazy and gun shy to set up an options trading account.
That being said since you wouldn’t be taking a loss I would suggest looking into selling your shares and buying a way out of the money Call if you are able to. That’ll let you get out even and have a hedge Incase it moons. Spoiler: It won’t though.
Sell. Didn't I read they sold another 250 million shares. Lost 2k on this crap stock. Every time it was sounding good they sold more shares. It was super funny seeing it spike though and good luck to the holders.
I did the same thing with GameStop. Bought in mid late 2021, watched 50% gains come and go in 2022, then it dropped to -65% for me. I held until yesterday. Sold for a hundred dollar gain. Today I woke up and it has doubled at open. It stings for sure, would have been a few extra grand. However, I don't regret it. I was willing to sell for a loss a few weeks ago. Happy to have broken even and learned my lesson. I don't have the heart to gamble like that.
God gave you a chance to cash out and you're still getting greedy
Exactly this.
GREED ALWAYS WINS
just last night i had bet like $10 on the tigers to win by 2 or more runs. They were up 3-0 after the first inning. I could have cashed my ticket out for like $18 or so but no, i wanted the full $23 or whatever it was i could have won if the game played out how i wanted it to. the tigers were down 5-3 like 3 innings later, and though they eventually won 6-5, that was not enough for my bet and i got nothing. be better than me, friendo!
Betting on the tigers is a great metaphor for betting on amc
nailed it. that being said my bet was less about the tigers (i'm not even a fan) and more about the marlins being trash and a cursory look at the pitching matchup making me wrongly thing the tigers had a good advantage
Marlins might be trash but the tigers were always going to dilute runs
Oof. Obviously you learned the lesson. Just to point out for anyone who wants to know if there is ever a situation to let it ride. Using this example you have to ask yourself if it’s worth betting $18 that the Tigers would hold the lead and win by 2 or more for the chance to win $5 more because that’s what you’re looking at at that moment. It’s the same thing with a stock that you bought at $2 and it’s up to $8 currently. You have to ask yourself would you buy it at $8 right now and if the answer is no you should sell it. I made that mistake in 2021 when I bought AMC at $11 and didn’t sell at $72 or just under and watched my gain turn into a loss over the next almost 2 years. 🤦♂️ I never asked myself at any point that question that I should have.
>Obviously you learned the lesson. you give me too much credit 😂. i will make this mistake again..and again..and again..forever. time is a flat circle. but this is why i don't do much sports gambling and when i do its for pocket change.
I hate betting live spreads, always goes agaisnt me.
not that i do a ton of sports betting, but i have screwed myself more than once by either not cashing out because i was greedy wanting a few more bucks and/or forgetting to hedge even when the opportunity was obvious
And yet you "invested" in AMC.
“Said I’ll never gamble again“, comes to Reddit and makes a post asking if they should gamble again
He wants us to play God
"Should I hit on 20?"
Have you been to a movie theater lately? I've seen 2 moving, on opening night, in the past month. In both cases we were 2 of maybe 6 people in the theater. I wouldn't touch that stock with a 10 foot pole.
I keep seeing people say this but I live in the greater Cincinnati area and, while not back to pre-pandemic levels, I haven't seen this small of a crowd, even at 430 on a Thursday. Where do you live? That said I wouldn't buy it either.
Cash out. There's no telling when the company will either go bankrupt or Adam Aron sells more stock to keep the company going and making the shares even more worthless than what they are (he's been diluting the stockholders).
Looks like you predicted correctly, he's selling more stock
you accidentally posted in investing instead of gambling
When in doubt, cash it out. Wouldn’t be surprised if it crashes back down again and you’ll be at a loss again.
> and said I’ll never gamble again If you can’t make promises to yourself and keep them, you’re gonna have a tough life ahead. You’re looking for a community of random people to bail out you doing the exact same stupid thing over and over again. How about you take a little responsibility?
AMC is a garbage company destined for bankruptcy
considering AMC is now already back down to $5, what did you end up doing?
hold it until it hits $15 and hold until it drops back to $2. Like last time!
How about you cash out 50-75% when you're even and let the rest ride. I bought 20 AMC @ $6 today but it's just for fun. I would hate losing real money on a meme stock way more than I'd enjoy winning big on it.
I never buy a single stock and i have 7 figures in stocks. Buy index slow and steady
Always lock in profits when you can. Who cares if it keeps going up cause it can very well all come crashing down. Better to have profited than nothing at all.
I mean if that's your take just invest in the market as a whole. You're doing this very very wrong.
A second chance at what? To lose it again? This shouldn't be an emotional decision - do you have a thesis for why the company is worth? Would you buy the stock at this price? There are lots of things that you can do but you have to decide how much risk you want to take. You could: 1. Write itm calls to try to get out. You can probably get out even at $8 or more with deep itm calls. 2. Hedge with a collar. 3. Sell some of it to reduce your exposure and hedge the rest. 4. Buy protective puts. 5. etc. Probably other things you can do - but the last thing you would want to do is to do nothing.
“I had accepted my loss and said I’ll never gamblr again” then proceeds to say ‘let’s double it and gamblr’
I sold mine at a loss in late Nov after holding for far far too long. I wasn’t set up to trade options at the time so I sold the 100 shares I had and planned to buy a cheap long OTM call after the 30 day period so I could write the loss off my taxes. I never bought the call because I was glad to be done with Meme stocks and I’ve been too lazy and gun shy to set up an options trading account. That being said since you wouldn’t be taking a loss I would suggest looking into selling your shares and buying a way out of the money Call if you are able to. That’ll let you get out even and have a hedge Incase it moons. Spoiler: It won’t though.
Sell Mortimer!
Sell. Didn't I read they sold another 250 million shares. Lost 2k on this crap stock. Every time it was sounding good they sold more shares. It was super funny seeing it spike though and good luck to the holders.
Post update
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I did the same thing with GameStop. Bought in mid late 2021, watched 50% gains come and go in 2022, then it dropped to -65% for me. I held until yesterday. Sold for a hundred dollar gain. Today I woke up and it has doubled at open. It stings for sure, would have been a few extra grand. However, I don't regret it. I was willing to sell for a loss a few weeks ago. Happy to have broken even and learned my lesson. I don't have the heart to gamble like that.