GameStop/Reddit vs. Big Financial

[OakRiver]

Too much craziness. Just shows the game is all rigged. Robinhood ceased trading of gme stock.

Robinhood is on the receiving end of a class action lawsuit:https://pacer.login.uscourts.gov/cs...tps://ecf.nysd.uscourts.gov/doc1/127128425123

 

[larcat]

Americans are having issues buying gme. So now Canadians and Europeans are jumping on and buying gme and bb. Like huge amounts. This is gonna be one for the history books.

That's great news, tbh. They wanted capital to flow freely across borders....

 

[jamil]

I don't pretend to fully understand what's going on here. But aren't the billionaire hedge fund dudes who are short selling 140% of the available stock the ones engaging in a childish game?

No. That’s an adult game. I can’t say I don’t enjoy seeing them lose their asses for engaging in institutionalized market manipulation. I enjoy it quite a lot. But, these children are playing with the adults, the people who own the politicians, the people who influence the people who have state power. Nothing good will come long term.

Also, they play golf together with other rich people. They sail on each other’s yachts. They scratch each other’s backs. Trading platforms are restricting trade. And now TPTB are invoking the “hate speech” thing on them and getting them banned from social media. Of course, CNN is participating, saying they’re all Trumpers.

This is indeed a win for those who risked a lot and gained a LOT. Some of them have made a lot of money on this. Enough to substantially boost their retirement. I think it will be a long term loss for the little guy.

 

[larcat]

No. That’s an adult game. I can’t say I don’t enjoy seeing them lose their asses for engaging in institutionalized market manipulation. I enjoy it quite a lot. But, these children are playing with the adults, the people who own the politicians, the people who influence the people who have state power. Nothing good will come long term.

Also, they play golf together with other rich people. They sail on each other’s yachts. They scratch each other’s backs. Trading platforms are restricting trade. And now TPTB are invoking the “hate speech” thing on them and getting them banned from social media. Of course, CNN is participating, saying they’re all Trumpers.

This is indeed a win for those who risked a lot and gained a LOT. Some of them have made a lot of money on this. Enough to substantially boost their retirement. I think it will be a long term loss for the little guy.

Just enjoying watching people stick their thumb in global capital's eye. You're 100% right that retail is gunna be screwed here but it still feels good from the sidelines.

 

[chipbennett]

Which means everyone who bought it to drive it from $200 to $483 loses money if they sell today...and if they don't, they will lose even more. This artificial bubble, like every bubble will burst and there will be a lot of losers. It is a legal pyramid scheme. Some from the beginning will make money. Most will lose. The redditers (and everyone else) that got in on this late will be handing their money over to those that started this, only in a roundabout manner.

It also appears to be a false (i.e. intentionally manipulated) crash, since retail buying of $GME has been suspended, but not selling.

IANAL, and especially not where finance laws are involved, but I cannot understand how such action can be legal. (I suppose that's why there is already a class action lawsuit filed against Robinhood.

 

[chipbennett]

No. That’s an adult game. I can’t say I don’t enjoy seeing them lose their asses for engaging in institutionalized market manipulation. I enjoy it quite a lot. But, these children are playing with the adults, the people who own the politicians, the people who influence the people who have state power. Nothing good will come long term.

Also, they play golf together with other rich people. They sail on each other’s yachts. They scratch each other’s backs. Trading platforms are restricting trade. And now TPTB are invoking the “hate speech” thing on them and getting them banned from social media. Of course, CNN is participating, saying they’re all Trumpers.

This is indeed a win for those who risked a lot and gained a LOT. Some of them have made a lot of money on this. Enough to substantially boost their retirement. I think it will be a long term loss for the little guy.

This is Wall Street vs Main Street - the real battle that the Trump administration waged on behalf of Main Street, and the real reason for the existence of #NeverTrump and GOPe opposition to Trump (they are beholden to the Chamber of Commerce and the entire, crony capitalism scheme).

 

[OakRiver]

No. That’s an adult game. I can’t say I don’t enjoy seeing them lose their asses for engaging in institutionalized market manipulation. I enjoy it quite a lot. But, these children are playing with the adults, the people who own the politicians, the people who influence the people who have state power. Nothing good will come long term.

Also, they play golf together with other rich people. They sail on each other’s yachts. They scratch each other’s backs. Trading platforms are restricting trade. And now TPTB are invoking the “hate speech” thing on them and getting them banned from social media. Of course, CNN is participating, saying they’re all Trumpers.

This is indeed a win for those who risked a lot and gained a LOT. Some of them have made a lot of money on this. Enough to substantially boost their retirement. I think it will be a long term loss for the little guy.

If that is the case, I hope that CNN keeps pushing this line of attack. Reddit is the least welcoming place for Trump supporters, so if they start to understand what games the media have been playing we might start to get more people understanding the media's role these past 4 years.

With Discord now banning WSB for "hate speech", I hope they understand how that can be abused to silence people corporations disagree with.

 

[larcat]

It also appears to be a false (i.e. intentionally manipulated) crash, since retail buying of $GME has been suspended, but not selling.

IANAL, and especially not where finance laws are involved, but I cannot understand how such action can be legal. (I suppose that's why there is already a class action lawsuit filed against Robinhood.

This. The "bubble popping" is fake on artificially deflated volume. The funds still are 100% + open interest short.

 

[Ingomike]

This is Wall Street vs Main Street - the real battle that the Trump administration waged on behalf of Main Street, and the real reason for the existence of #NeverTrump and GOPe opposition to Trump (they are beholden to the Chamber of Commerce and the entire, crony capitalism scheme).

Our entire government is in the pocket of so many others their constituents cannot find them to put a thumb on them...

 

[erasure]

I cannot understand how such action can be legal

I hope this helps

Oh yeah, expect some regulation to follow: https://thenationalpulse.com/news/yellen-made-millions-speaking-to-wall-street/


Joe Biden’s Treasury Secretary Janet Yellen has made over $7 million from speaking at Wall Street firms including Citadel – which has invested billions of dollars in the primary hedge fund now suffering as a result of the GameStop stock surge.

 

[chipbennett]

I hope this helps

Oh, yes. I fully expect the Biden administration to help.

 

[OakRiver]

Oh, yes. I fully expect the Biden administration to help.

Like pouring gasoline on a fire.

 

[erasure]

Oh, yes. I fully expect the Biden administration to help.

Oh yeah it's going to be great.

“Is the White House concerned about the stock market activity we’re seeing around GameStop and now some other stocks as well?” one reporter asked Psaki. “Have there been any conversations with the SEC about how to proceed?”

“Well, I’m also happy to repeat that we have the first female Treasury secretary and a team that’s surrounding her and often questions about markets,” Psaki replied.

 

[Ingomike]

Oh yeah it's going to be great.

This will be mislabeled in the media and the sheeple will believe government is protecting them when it crashes it's fist into the people...

 

[rooster]

Seeing rumors on Twitter (unconfirmed) that some shorts doubled down on their positions prior to the buying ban being placed on retail.

this whole thing reeks of illegal naked short selling and collusion.

 

[larcat]

Seeing rumors on Twitter (unconfirmed) that some shorts doubled down on their positions prior to the buying ban being placed on retail.

this whole thing reeks of illegal naked short selling and collusion.

Because that's exactly what it is.

 

[jsharmon7]

A lot of redditors are going to lose their butts. Many of them putting their rent on credit cards to free up cash for investing. The early birds will win and all the bandwagon jumpers will eat it. It’s just a Ponzi scheme.

Also, aren’t there a lot of retirement accounts tied into these big hedge funds. I wonder how they’re being impacted?

 

[smokingman]

The lawsuits are piling up against Robinhood.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Selling of clients stocks because of market instability....yea....this crap needs stopped.

 

[jsharmon7]

Robin Hood being sued for protecting the rich from being looted by the poor?

Ha!

 

[erasure]

The lawsuits are piling up against Robinhood.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Selling of clients stocks because of market instability....yea....this crap needs stopped.

Both Robinhood and Melvin Capital Mgmt are owned by Citadel.

Someone at Citadel decided, it'll be cheaper to pay the SEC a fine than let the market run out of their control.