Not being in the US I don't know this but can Robinhood be sued, like a lot of people seem to be calling for, just for refusing to handle trades on a stock?
GameStop: Anger as trading in GameStop shares is restricted
11–20 of 88 posts
Re: GameStop: Anger as trading in GameStop shares is restricted
#12More than 10 Trading Halts in just a couple of hours. https://www.nyse.com/trade-halt-current
Re: GameStop: Anger as trading in GameStop shares is restricted
#13While the title might be true for the "amateur investors" that got in early, I strongly believe that most of them are not outwitting anyone and will be bagholders. As of this post basically everyone who bought yesterday are underwater by 50%.
depends on when the positions are liquidated.
everyone who bought yesterday is fighting exchanges whose only option for GME is "sell" because buying is restricted.
I don't know how some of these shorts will find 20 million shares by tomorrow.
Re: GameStop: Anger as trading in GameStop shares is restricted
#14> "This isn't investing, this is gambling"
Yep. Agreed. Spot-on. That's what Wall St does. If you don't like it, try and stop it. But for everyone, including the hedge funds.
Treating the derivatives markets like a casino (and taxing appropriately) sounds like a great idea.
Re: GameStop: Anger as trading in GameStop shares is restricted
#15While the title might be true for the "amateur investors" that got in early, I strongly believe that most of them are not outwitting anyone and will be bagholders. As of this post basically everyone who bought yesterday are underwater by 50%.
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Re: GameStop: Anger as trading in GameStop shares is restricted
#16Earlier quoted context omitted.
Platforms are banning buys for retail, ofc it's going down. If rh and td didnt ban it I bet it would be even higher.
But what's the endgame? That the stock will go up forever, so that the existing investors are perpetually being paid by future investors?
short squeeze could kick off tomorrow.
the days to close has fallen to 1.4 right now.
Re: GameStop: Anger as trading in GameStop shares is restricted
#17Earlier quoted context omitted.
Platforms are banning buys for retail, ofc it's going down. If rh and td didnt ban it I bet it would be even higher.
But what's the endgame? That the stock will go up forever, so that the existing investors are perpetually being paid by future investors?
The endgame isn't about this specific instrument, but the pattern of market manipulation (hell, economy manipulation) which it represents in the context of leveraged short selling alongside a 'too big to fail' regulatory regime.
The endgame is to use collaborative economic force to push rent-seekers out.
Re: GameStop: Anger as trading in GameStop shares is restricted
#18The high/low so far today is $514.50/$112.25. As I write this it's down 65%. What a surprise.
Matt Levine: "It seems meaningless to talk about the price of GameStop stock, as though a single number could represent such an elusive concept. GameStop stock has all the prices at once."
* Until observed
Re: GameStop: Anger as trading in GameStop shares is restricted
#19The problem with GME starts with the funds that managed to accumulate a 140% short interest in the stock.
Send those people to jail for illegally issuing unregistered shares of a security, or counterfeiting shares of a security, because everything that happened after that point is entirely their fault.
Alternatively, fine them $10B and issue it as a dividend to the shareholders that bought and held after Jan 1.
Re: GameStop: Anger as trading in GameStop shares is restricted
#20Nobody is “outwitting” Wall Street here. That will become particularly apparent in the coming days.
I’ve read posts on /r/WSB where people talk about having put all of their savings into this.
I only hope that they’re just teenagers with little savings.