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That story doesn't make any sense. If he bought $100K in stock, he can't lose more than $100K, and even for that its price would have to go to zero.
by imaginenore 10y ago
That story doesn't make any sense. If he bought $100K in stock, he can't lose more than $100K, and even for that its price would have to go to zero.
- totalZero 10y agoThe million dollars he mentions is a mark-to-market loss versus the peak value of the position. Many traders think about stock in terms of current market value, rather than the initial investment or the number of shares. However, this doesn't mean that a trader would have been able to sell a million dollars worth of stock at that peak price, without substantially pushing the stock price lower.