GameStop Is Rage Against the Financial Machine

Post by itronitron » Wed, Jan 27, 2021, 9:47 PM UTC

this_user wrote: post #87

cwhiz wrote: post #68

I am loving every minute of this. The "professionals" gamble on the market all the time, front run, high frequency trade, and relentless tactics to get rich at the expense of the "retail" investors. Now they are upset that apps like Robinhood has provided unprecedented access to the markets. Their exclusive access to insane gambling nonsense is being torn down in real time. If Wall St can gamble and cause a global fi…

> I see no reason why "retail" traders can't fuck around on Robinhood and cause some meme stocks to explode. It's called 15USC78i "Manipulation of security prices" [1]. It is unlawful to transact just for the purpose of forcing others to transact. Going through a fund's 13F filings, and deliberately driving up the prices of put options they sold should fall squarely into that area. And there are more than enough post…

Post by herpderperator » Wed, Jan 27, 2021, 9:48 PM UTC

zinclozenge wrote: post #65

colllectorof wrote: post #37

If you want an entertaining explanation of what's going on with GameStop's stock, I highly recommend these videos from Louis Rossmann: https://lbry.tv/@rossmanngroup:a/wallstreetbets-vs-citron-re... https://lbry.tv/@rossmanngroup:a/why-mainstream-media-s-slan... https://lbry.tv/@rossmanngroup:a/gamestop-shorts-lose-billio... https://lbry.tv/@rossmanngroup:a/gamestop-shorts-are-full-of... (That's how I learned about t…

I didn't watch all the videos, but so far as I write this post, it does not appear that shorts have covered, or started covering (at least as of this morning). It seems like the price hike is due to big buyers and gamma squeezes. There's been systematic short attacks in an attempt to drive the stock down, but they keep getting neutralized by big buyers. It's been a wild ride.

Post by boringg » Wed, Jan 27, 2021, 9:50 PM UTC

cellar_door wrote: post #290

boringg wrote: post #112

Earlier quoted context omitted.

I think that only works on co-ordinated activity. Everyone on their is so small and not working in co-ordinated way. There is considerable discussion in the thread about the legality of it. Also - what do you think short sellers like Citron do all the time. Put out fake reports about companies to make money off their short positions. The sentiment on the trade is eff those short sellers and their sketchy tactics.

The mod team is coordinating

Post by Traster » Wed, Jan 27, 2021, 9:52 PM UTC

fredophile wrote: post #330

admax88q wrote: post #315

Earlier quoted context omitted.

> The "little guy" refers to the Reddit traders that are making a killing right now, with the expectation that eventually the stock price will crash again. The reddit traders are only making a killing if they're selling these inflated positions. At some point somebody will be left holding the bag, odds are it will be a bunch of people from wallstreetbets and other retail investors that are late to the party. There's…

It's a short squeeze. The guys left holding the bag are people that are covering their short positions in the company. The average retail investor is not shorting stocks.. There will probably also be some people that try to jump on the trend too late but that isn't who is being hurt right now.

Post by lamp_book » Wed, Jan 27, 2021, 9:52 PM UTC

fwip wrote: post #331

diarrhea wrote: post #105

Earlier quoted context omitted.

I'm not sure there's much of an overlap. Incels are a rather small group, and I think most wallstreetbets users are surprisingly... normal. You can't bet on stocks if you're poor. So you'll have lots of mid/late 20s educated guys with decent incomes. This to me really feels like a classic "for the lulz" (and some personal profit), avalanche-style event.

"for the lulz" isn't really a normal-person thing to do.