The 75,000 is gone isn't it ?

[Memestockwidow]

My OH has been obsessed with meme stocks , keeps saying he's going to be rich have no mortgage and retire. The stock has crashed to 102 and he's just bought more. There's no diversifying his portfolio he's literally bunged 75,000 in one stock. We have been saving to upsize for a few years but my OH keeps putting it off as he wants to be mortgage free. Whatever I say he won't listen 75,000 pounds has gone into a meme stock it's like a bloody cult. We could have moved already with that money and it's been pissed away.

Is this a gambling addiction ?

@Memestockwidow

We aren't married have one DD together share a house both names on it , house is safe as luckily I can solely afford the mortgage on my own. He's a higher earner so it's not all his savings but not an insignificant amount. He also got let go from his previous job in banking due to not disclosing his trading positions. He's got a job in the public sector just so he can trade to his heart's content. I'm starting to think this is the beginning of a gambling addiction but he can't see it.

When I studied psychobiology of addiction my professor talked about addiction being problematic when it starts “negatively impacting” your life and relationships…

I’d say “negatively impacting” is a massive understatement when are are losing your job and chasing the rainbow dumping more money into meme stock.

I would 100% believe he has a problem and is an addict.
If it’s not nailed down or hidden - Nail it down and hide it.

I’m reading your newer posts OP.
You’re not married.
You have your own savings...are they as much as his?
He’s used his own money to invest, and not all of it.
He’s a high earner with no other debts.

Maybe he’s entitled to try this. As I said earlier, I’m invested in something similar. If it works great, if not, I’m glad I’ve taken a chance. I’ve a lot in it, but my husband supports my point of view, and says why not.

Old thread, but will resurrect it for greater good.

I strongly recommend people read up on meme stocks and educate themselves. Do not believe everything mainstream media is telling you. Hedge funds, market makers and brokerages are likely to be in BIG trouble for various reasons. This video explains things nicely.

People are standing up to market manipulation by big players and holding for fairer financial markets for future generations.

OP, if your husband invested in GME/AMC, he is fine. I suggest you educate yourself. He is not gambling. If it’s crypto, it’s a different story.

I've known a few people who did absolutely foolhardy things simply because they wanted to be mortgage free- if something sounds too good to be true then it usually doesn't come without significant risk

He will never admit he's wrong he thinks he's really clever that's the problem.

I think that's enough reason to leave him even without the gambling problem tbh.

@Memestockwidow any updates OP?

I would be very careful with the house and the equity in it. I know with our banking setup, as we have other property apart from the family home, the bank has the whole lot tied up together.

As I do most of the re-financing its usually only me the bank deals with despite joint names and I have signed something on behalf of my DH when he was at work and it needed to be done asap.

So I would ask the Bank to put into writing that additional financing cannot be sought or extended on your joint property without you being present at the Bank.

Its so easy to forge someone else's signature if push comes to shove and I suspect your OH will want to dip into the equity thinking he is backing a winner.

Good luck.

Have assets of over 75K.
Gamble them away.
The uneducated middle class. It's a thing.

To be fair the Gamestop share price did bounce back up to $189 at the end of march so he wasn't totally wrong and could have made his money back and maybe made a little.

As @magicstar1 said, he earns a lot, has no debt, used some not all of his savings, so really is it that big of a deal (assuming this is as far as it goes, and not into the gambling money you don't have territory)?
That said it's not something i would have personally done at that stage of the game (a year late) or with that amount.

Would you by any chance be an Ape? ;-)

I’m not an ape. I’m an investor. I invest based on numbers. Based on math, there is a lot of sense in investing in GME/AMC at this price point. That’s my opinion, not financial advise.

I strongly urge anyone to do your own research before buying into mainstream media propaganda.

OP, why don’t you sit down with a glass of wine one quite Friday night and ask your husband to explain what’s all the fuss about? Why would someone do responsible and debt averse suddenly dump 75k into one stock?

*quiet not quite

• so responsible not *do responsible

Who pays for the house now, OP?

Who paid the deposit and who pays the mortgage? Is he actually contributing?

If not, aren't you just buying him half a house?

Oh, just seen it's an old thread.

How are things now, @Memestockwidow?

If you want to understand meme stocks just look at the tulip mania that swept Holland about 400 years ago. At one point a single tulip bulb was “worth” the same as a large house in central Amsterdam. The bubble burst literally overnight with many people ruined.
The whole thing is based on the “bigger fool” principle. You will make money so long as there is a steady supply of bigger fools than your dh. When there isn’t your fucked simples.

I’ve had my AMC shares since April ‘21....I’ve done my research too. I wasn’t using Ape in a derogatory manner ☺️

That’s absolute nonsense. AMC/GME are NOT like the tulip mania! Please educate yourself before posting false info!

Read up on :

1. unlimited liquidity


2. Naked shorting


3. Margin calls


4. who owns mainstream media houses


5. Conflict of interest


6. Lying under oath


7. Removing buy button

let me know once you finish this, I’ll give you another list, you can then come back and eat your words.

🤗