OT: Game Stop

[Brooky03]

Isn't this illegal and akin to "pump and dump?"

Depends on the language used by the ‘pumpers.’ There will be an investigation. Technically, it’s a short squeeze. Since there is a fundamental basis for the trades (overly shorted stock), there’s a good argument this isn’t a pump and dump (when somebody touts a worthless company based on no fundamentals).

 

[Cusefan0307]

Yeah I have a decent amount (by a 23 y/o in law school standards) in AMC, NOK, and NAKD and now robinhood is freezing people out in an effort to tank them.

Behind bs and against what the platform is supposed to be used for. I guess free markets are awesome until they start to screw the people who have been raking in billions by their own manipulation and shady ish.

Yeah it’s pathetic tbh. They should have spent their money more wisely and diversified to prevent soooo many losses on their side.

 

[Brooky03]

Yeah I have a decent amount (by a 23 y/o in law school standards) in AMC, NOK, and NAKD and now robinhood is freezing people out in an effort to tank them.

Behind bs and against what the platform is supposed to be used for. I guess free markets are awesome until they start to screw the people who have been raking in billions by their own manipulation and shady ish.

Robinhood and TD should not be doing what they’re doing. I don’t have any positions in these stocks. I’m on Ally anyway, which to my knowledge hasn’t frozen them, but it was so overloaded yesterday that I couldn’t even access my account to look at my other balances which was pretty frustrating.

 

[UpstateSM]

Vanguard is still up I just got some NOK

 

[Alsacs]

It’s hilarious. You can’t even buy these stocks right now.. they basically shut them down.

Robin Hood App is D-O-N-E after this.

People like me who aren’t fans of Liz Warren will basically say do whatever you want Senator these Wall Street guys don’t realize what they are doing:

 

[NineOneSeven]

Robin Hood App is D-O-N-E after this.

People like me who aren’t fans of Liz Warren will basically say do whatever you want Senator these Wall Street guys don’t realize what they are doing:

How do you figure it’s done?

 

[Brooky03]

Yup, Ally is down again lol. How do I start a gofundme to get Ally an extra server or two?

 

[Alsacs]

How do you figure it’s done?

Government regulations are going to come and stock market users aren’t going to use an app that protects hedge funds over day trading customers.

 

[chugg21]

Little fellas are only allowed to play in the yard when they know their place.

 

[Cusefan0307]

This is 1000% class warfare.

 

[Alsacs]

This tells me Hedge Funds use the stock market basically to launder money to their own pockets.

It’s not even investing.

 

[NineOneSeven]

The 99% vs the 1% let's do it!

 

[Cusefan0307]

This tells me Hedge Funds use the stock market basically to launder money to their own pockets.

It’s not even investing.

Hasn’t been in a long time. The average stock is held for 40 seconds these days.

 

[Alsacs]

I am dead serious the people involved at Robin Hood, Citadel, and Melvin Capital need to be prosecuted to the fullest extent of the law.

 

[UpstateSM]

I am dead serious the people involved at Robin Hood, Citadel, and Melvin Capital need to be prosecuted to the fullest extent of the law.

They won’t be

 

[Alsacs]

They won’t be

If Merrick Garland is what he says he is then they will be.
The SEC can connect the dots in minutes.

 

[Otto'd]

Yeah I have a decent amount (by a 23 y/o in law school standards) in AMC, NOK, and NAKD and now robinhood is freezing people out in an effort to tank them.

Behind bs and against what the platform is supposed to be used for. I guess free markets are awesome until they start to screw the people who have been raking in billions by their own manipulation and shady ish.

And illegal.

 

[Fat tire 13]

Yeah I have a decent amount (by a 23 y/o in law school standards) in AMC, NOK, and NAKD and now robinhood is freezing people out in an effort to tank them.

Behind bs and against what the platform is supposed to be used for. I guess free markets are awesome until they start to screw the people who have been raking in billions by their own manipulation and shady ish.

Question - are you using margin in your account? This is an important distinction. If the broker offers margin, it is on them to manage your risk. For example, if the stock falls too quickly your account could have negative value, and they are left holding the bag. It's all based on volatility.

This battle of the little guys vs. hedge funds is interesting. The hedge funds are not sympathetic characters, and the system is rigged in their favor in some ways

This story is not nearly over. No one should be celebrating. Any many people holding all these Reddit/WSB stocks could end up losing a bunch of money.

I'm rooting for the little guy - but the little guy hasn't won yet

 

[OttoinGrotto]

This is 1000% class warfare.

All warfare is class warfare.

 

[Alsacs]

Question - are you using margin in your account? This is an important distinction. If the broker offers margin, it is on them to manage your risk. For example, if the stock falls too quickly your account could have negative value, and they are left holding the bag. It's all based on volatility.

This battle of the little guys vs. hedge funds is interesting. The hedge funds are not sympathetic characters, and the system is rigged in their favor in some ways

This story is not nearly over. No one should be celebrating. Any many people holding all these Reddit/WSB stocks could end up losing a bunch of money.

I'm rooting for the little guy - but the little guy hasn't won yet

No chance the hedge funds can recover without bailouts or really HUGE rainy funds if they were part of the game spot short.

The price right now is destructive.

Which is why they are cheating “the free market” to save their a$$es on apps like Robin Hood.
The government is going to regulate the chit out of them and now they have to shut up about it.

 

[chugg21]

If Merrick Garland is what he says he is then they will be.
The SEC can connect the dots in minutes.

Be interesting if Portnoy has enough eyeballs on him and can use his epic ability to hold a grudge to keep this in the spotlight.

 

[Tobias Funke]

What we are seeing right now has absolutely zero to do with money. It is the exposure of a predatory system built under the guise of capitalism. unfortunately Wall street has been bailed out of much less, and they continue to take advantage and make their most money on struggling entities. This will provide a nice scare, but odds are the anti-regulatory folks will suddenly want regulation protecting against this type of run.

 

[GoSU96]

Depends on the language used by the ‘pumpers.’ There will be an investigation. Technically, it’s a short squeeze. Since there is a fundamental basis for the trades (overly shorted stock), there’s a good argument this isn’t a pump and dump (when somebody touts a worthless company based on no fundamentals).

Individuals are trading on publicly available information.

 

[Fat tire 13]

No chance the hedge funds can recover without bailouts or really HUGE rainy funds if they were part of the game spot short.

The price right now is destructive.

Which is why they are cheating “the free market” to save their a$$es on apps like Robin Hood.
The government is going to regulate the chit out of them and now they have to shut up about it.

The deep pockets can outlast the little guys, so there is a bunch of truth to what you're saying.

In the end, Citidel is loaning money to Melvin. But Citidel could give two chits if a company like Melvin is around in a year. But ALL the context is important. If RH itself is forcing people to cut back because they are using margin, that is how the broker/client relationship has worked since the industry was first hatched. What I'm wondering if the shutdowns are because of margin (logical) or some other reason (more sinister)

 

[Brooky03]

Individuals are trading on publicly available information.

Correct. Pump and dumps aren’t based on insider information either.

Like I said though, I don’t think this qualifies as a pump and dump.