I posted a quarter million GME YOLO on WSB over a week ago and it was real (ended up making around $300k and I only have 1000 shares left, so even if it went to $0 right now I'd still have a nice profit)
I saw posts yesterday asking if it's still worth buying GME at market open. I was sure these people are crazy and about to lose their asses. I just checked price action a few minutes ago and it went from $60 to $144 before selling off back to $70s. Crazy.
This was the craziest day of trading I have ever seen. As GME was crashing down from $155, there was a moment when the entire market went down 5-10% and futures spiked. I ended up triggering limit sales on VXX that I had set weeks ago and forgotten about.
Truly, this is a speculative bubble that is going to pop very, very hard.
I think it's funny when people say this when there are still 11 months left in the year. Just because I made $300k on this doesn't mean I'll owe taxes on that
You only pay taxes on your yearly capital gains so I don't think it makes sense to pay estimated taxes. I could lose those gains. Not sure where AMT cones in
I am not a tax professional but I would recommend at least talking to a tax professional about that. Taxes are generally due upon realization of income/capital gains; the quarterly thing is simply because it would be too onerous to have to report literally every single gain/loss as they happened. But I'm not going to sit here and argue with you :)
