Imagine buying some of these stocks. Next day people can only sell. What could go wrong..who will make money put of this? I think it's time to do something! People will get fed up of this fake freedom and "equal opportunity" bs
Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
471–480 of 1001 posts
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#472Earlier quoted context omitted.
Read up on the story of the Piggly Wiggly short/corner.
a link for the lazy (twitter thread): https://twitter.com/dollarsanddata/status/135456107992655053...
Love that story. It's told in more detail along with other stories like it in Business Adventures by John Brooks - https://amzn.to/3cq4Fs5
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#473This is unbelievable. If there ever was a time to be outraged. This is naked corruption as usual hiding under the shabbiest veil of virtue. RobinHood traders can bankrupt and kill themselves, and that is fine, we will continue prodding them to trade more often, but once we get a call from one our hedge fund buddies, moaning about the rubes stopping him from raping another company, we will shut the rabble down.
Hey, crowd, you are not allowed to buy up the stock like that! Someone is gonna get hurt on the way down! “Here let us help you” — closes down exchanges, panic sell — “isn’t that all better?” People with their money stuck and unable to cash out... so much better eh? I smell a huge class action lawsuit
Yeah, so incredibly messed up. How can we sell when there are no or very few buyers?
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#474The sacrificial lamb enters the fray. Killing off Robinhood is a much cheaper option than allowing your Wall Street buddies to take a loss.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#475Earlier quoted context omitted.
> the powers that rule USA don't realize that soon the only tool left to common people is violence? What's even more concerning to me is that, to platforms looking for an excuse, your comment could be painted as trying to "incite" violence, and used as a justification to ban you.
>> only tool left to common people is violence? I am genuinely interested in the physicality of how that would play out. A mob with pitchforks makes a run at a Facebook HQ. Do they kidnap employees until they find one with the access to re-initialize the account? I guess they would have to keep the hostages forever, else the accounts be disabled again the next day. Do they setup a camp outside with the declared inten…
You are thinking to gentle and precise. Think more along the lines of setting data centers and office buildings on fire. Find anyone who has FB on a linked in profile, go their house, and burn it down. Let it all be known that it was an act of war and watch the insurance companies cover nothing.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#476Earlier quoted context omitted.
At least for GME the stock is still rising uncontrollably. If the WSB crowd who mainly uses Robinhood can't buy then who is pushing the price up?
I'm really out of my depth here but my understanding is at a certain point short sellers start getting forced to buy at whatever price, pushing the stock up further?
If you are short you have to put up more and more collateral as the price goes up. So yes, eventually you may be forced to buy to cover your short, if don't have enough cash you are able or willing to tie up as collateral. This can create a feedback loop as short-sellers buy and drive the price further up, forcing other short-sellers to buy, etc., the so-called short squeeze. I have no idea if this is happening now.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#477This sort of stuff will put people more and more on edge, there is the deplatforming going on, people asserted their power financially, and now getting that removed too, the powers that rule USA don't realize that soon the only tool left to common people is violence? Even more with some irresponsible newspapers blaming the whole thing on GamerGate and Alt-Right, effectively pushing away people that previously could b…
"They're a private company! They can restrict their product for corrupt political and financial purposes and this is good... for... reasons... at least that's what the tv/social media told me."
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#478WSB reminds me of the heyday of LulzSec. As questionable as LulzSec / anon’s hacking was, it was also exciting to watch in real-time (10 years ago!) Of course they were caught and of course they turned out to be regular nobodies. Everything is normal and banal in the end. If WSB doesn’t turn out to be a regular ole pump and dump then I’d be very surprised. The only thing that’s weird about it is that not even the cur…
It's not a pump and dump. It's a short squeeze. It's nothing new. It's the plot of the 80s movie "Trading Places."
A hedge fund bought short position futures contracts for 120% of the available stock on the market. That's the underlying reason the price is going up: because they're forced to somehow buy more than 100% of the available Game Stop stock because they agreed to sell it to the people on the other end of those contracts for a set strike price.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#479where's the 'just build your stock exchange' crowd now?
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#480Earlier quoted context omitted.
> the powers that rule USA don't realize that soon the only tool left to common people is violence? Do you honestly believe this? Somehow we'll go from not being able to buy certain stocks to violence? Banning collecting rain water on your own property didn't do it. Abject failure of politicians keeping drinking water clean didn't do it? Not being able to buy cheese from unpasteurized milk didn't do it. Can't grow a…
I think it's important to put this in the context of many other related issues/pressures: * Increasing wealth inequality for several decades now * older generations holding onto more wealth and power in society than ever before - with a large share of their wealth in the stock market * Wall Street is seen as entirely unaccountable due to 2008 bailout * Pandemic this year has basically been a huge wealth transfer from…
To be fair, Wall Street's been unaccountable for a while. The 2008 was just a large example of this.
Do you have a reference for older people having more wealth? There's definitely a smaller number of people holding more wealth, but I haven't read about older people holding more wealth.