Trump Broke Politics, Now He’s Broken The Market

[moonshine]

i applaud the millenials taking apart hedge funds.
on one side you have a group of traders who have screwed over people for years
on teh other side you have a generation laden with huge student debt,unaffordable housing and low paying jobs.

i hope they take out a few more hedge funds. and if you go to their reddit thread a lot of them re posting screen shots of profits that they claim they will use to pay off debts or but houses.
not all will win but the overall the millenials will come out net ahead.

[GWH]

Heading to 400 this morning.

[WuWei]

AMC too.

[GWH]

Robinhood and Ameritrade restricted trades on GME and AMC.

Robinhood backlash: What you should know about the GameStop stock controversy

[WuWei]

Interesting. “In light of increased volatility…”

Who cares?

[biggestal99]

@moonshine

i applaud the millenials taking apart hedge funds.

I am a boomer. I own GameStop. Lol.

Now when do I sell…

Allan

[biggestal99]

@GWH

Robinhood and Ameritrade restricted trades on GME and AMC

Very few shares available.

No one wants to sell…

The leader says “hold”

Allan

[biggestal99]

sNDL

Allan

[Snow96]

@moonshine

i applaud the millenials taking apart hedge funds.
on one side you have a group of traders who have screwed over people for years
on teh other side you have a generation laden with huge student debt,unaffordable housing and low paying jobs.

i hope they take out a few more hedge funds. and if you go to their reddit thread a lot of them re posting screen shots of profits that they claim they will use to pay off debts or but houses.
not all will win but the overall the millenials will come out net ahead.

Hoopefully the SEC will crack down on the naked short selling. Have them lose money on their short sales, and get hit with fines and penalties (and maybe some jail time). You know damn well the nakes shorts are going on when the short sale percentage is 140% of all shares.

[vaard]

@Snow96

@moonshine

i applaud the millenials taking apart hedge funds.
on one side you have a group of traders who have screwed over people for years
on teh other side you have a generation laden with huge student debt,unaffordable housing and low paying jobs.

i hope they take out a few more hedge funds. and if you go to their reddit thread a lot of them re posting screen shots of profits that they claim they will use to pay off debts or but houses.
not all will win but the overall the millenials will come out net ahead.

Hoopefully the SEC will crack down on the naked short selling. Have them lose money on their short sales, and get hit with fines and penalties (and maybe some jail time). You know damn well the nakes shorts are going on when the short sale percentage is 140% of all shares.

and increase government laws and regulations so the common people cant do this kind of thing!

all in the name of conservatism… or liberalism… or whatever rightspeak you are using these days…

[GWH]

Ah man, they broke ranks. Dammit guys…

[JayJay]

@WuWei

The governed aren’t consenting any more.

Give them more stimulus.

I understand the sentiment.

“Burn it all down” won’t result in a better life for them.

You burn down your house…got news for you…now you’re homeless, and the note holder has insurance.

The pros who shorted GameStop won’t lose anywhere near as much as those who bought a valueless stock at a massively inflated price.

[SpacemanSpiff]

@SpacemanSpiff

@GWH

Or at least his supporters have. In a big middle finger to the establishment, Reddit users rocketed GameStop stock (GME) to $320 today before threats from the state security regulator threatened to halt activity. Spurred by a tweet from Elon Musk “gamestonk” gained over 1200% basically overnight. I looked at the Reddit page Musk linked, and they’re intent on continuing to buy.

The Biden administration is looking into the trading.

https://www.cnn.com/2021/01/27/politics/gamestop-stock-surge-trumpism/index.html

This has nothing to do with Trump, Biden, or any politics. This is a bunch of people giving a dig ■■■■ you to short sellers.

Edit: I’ve actually been looking deeper into this and learning things. It appears that various hedge funds had over shorted the stock up to 140% of the stock that actually exists. Meaning that when it comes time to settle up there’s be more stock needing to be bought back than actually exists, leading to a buying frenzy. The people on Reddit figured this out.

[WuWei]

@JayJay

“Burn it all down” won’t result in a better life for them.

Probably true, what it will result in is change. Resentment requires it.

@JayJay

The pros who shorted GameStop won’t lose anywhere near as much as those who bought a valueless stock at a massively inflated price.

I don’t think they care and I doubt many of them are buying much per individual. It may be a revolt for nostalgia sake.

[WuWei]

Interesting. Do we like what they’re doing if that’s the motivation?

[GWH]

It’s dropped 140 today. I think they’re playing with it. I don’t think they’ve cashed out yet or it’d be sitting under 40.

[PurpnGold]

@SpacemanSpiff

Edit: I’ve actually been looking deeper into this and learning things. It appears that various hedge funds had over shorted the stock up to 140% of the stock that actually exists. Meaning that when it comes time to settle up there’s be more stock needing to be bought back than actually exists, leading to a buying frenzy. The people on Reddit figured this out.

Which is BS

Why can you short more stock than what is available?

[GWH]

Back up, down by 90 on the day now.

[GWH]

I wouldn’t touch it with a ten foot poll, but it looks like they’re dangling a carrot. See if it goes down and back up again today.

[tnt]

@TheDoctorIsIn

The article does make one good point - although for the most part, I find the Trump references silly.

What’s the end-game for these redditor stockholders? By inflating the prices, yes - they’re screwing the hedge funds out of billions of dollars. But they’re going to end up losing money too - and Gamestop is still going to end up in bankruptcy.

Yeah, but it’s like a million people losing $100 each I think. Not the end of the world I suppose.

Pretty crazy story really.

Why arent we all shorting it now at the top? Seems like a no brainer.