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/biz/ - Business & Finance

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26631360 No.26631360 [Reply] [Original]

So am I getting this right?

Wast majority of people who bought the stock did it as a meme and their investment is "small", lets say <$10k. If they keep hoding the stock, the market price keeps going up and shorting jew gets fucked and has to pay up the loss, meanwhile when the stock crashes later on people who invested relatively small sum can just write off the loss in form of reduced tax. Meaning they realistically don't lose any money, while hedgie jew loses billions.

Is my understanding correct or wrong?

>> No.26631618

>>26631360
uhhhh you're not totally retarded, but you're getting there. you still lose all of the money that you lose. you can deduct up to $3k in losses from your taxable income each year. this saves you a few hundred bucks (at the cost of losing fucking thousands)

>> No.26631782

>>26631618
Thank you for elaborating.

>> No.26631783

>>26631360
You're correct in that anyone who is buying this shit now is going to lose all their money.