Looks like the Cryptos are out...
 

I assume this is referring to their poker sites as well as their casinos - the article isn't clear.

I don't play at any Cryptos any more. Some one log in and tell us what it says.

I don't have the links, but this morning I googled 'internet gambling legislation' and found an article stating that Party Gaming's stock was down 55%, Neteller's was down 62%, and Cryptologic's was down in what amounted to 7 billion in market share.

Crazy!

i really wish i bought this stock last night and sold short, banking on this huge drop. i almost did too.

Honestly, I'm surprised that trading wasn't halted on these companies.

I assumed it was... it really wasn't?

And JD - maybe you are just using the wrong words, but buying this stock would have been a huge mistake. Selling short would be good, yes, but you can do both - you can't buy and sell short. Once you buy, you are long. To sell short, you are selling something you don't have (and you buy later), because you expect the price to drop.

Funny.... sounds a lot like gambling to me.

I logged into Interpoker earlier and got nothing, but then I don't have a penny on the site at the moment. :(

ya im just confused. i never have done anything with selling short, but i knew it was something ppl did, who expected a drop in price.
so, what exactly do u do ifu plan on selling short then?
is there an option on etrade or wutever, cuz i dont understand it obv.

wut i mean is, how exactly do u sell something u dont yet have?

Yes you can do it through E-Trade, your account has to be enabled for it. Contact their support team and they will set it up for you.

I believe they will make you keep a certain amount of money set aside, since there is no way to tell how much you could potentially lose in a case like this, either that or they make you agree to a "stop loss", in the case of selling short if the stock goes up to a certain price you are obligated to buy it at that price and eat the losses.


Basically you are borrowing shares from the broker, selling them for the cash with the promise of buying them back and replacing the ones you borrowed. Had you done this with PartyGaming last night you would be very happy today.

Not really (on the last statement).... because the market wasn't open last night, so you couldn't sell anyway. If you put the order in then, it wouldn't go through until the market opened this morning, and I'm sure it opened at the corrected price.

There is such a thing as "after hours trading" - I have no idea if this is even possible on the London exchange... but even if it is, the price STILL would have been affected last night. As soon as there is news - on anything - a stock's price moves (in other words, good luck trying to find someone willing to BUY Party stock last night, when everyone knew it was going to tank this morning).....

Selling short Friday afternoon would have been a good idea though.