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WallStreetBets coin tanks 90% after insider dumps holding
31–40 of 43 posts
Re: WallStreetBets coin tanks 90% after insider dumps holding
#32Earlier quoted context omitted.
Nobody is trying to change short selling rules. Like I said, this wasn't a rebellion against short selling. Also, this is all verifiable information. I'd encourage you to confirm what it is that I'm saying. Benjamin Graham said that in the short term, the stock market is a voting machine, and in the long term a weighing machine. None of this is anything new. It's just the speed at which information travels that has c…
> Nobody is trying to change short selling rules. Obviously, it was all just a ploy to trick Redditors into buying GME. If people actually cared about short selling, they'd describe new rules or regulations on the issue. That's all it ever was. There's not much else to the story. I guess I could go over the bull$$$$ arguments over AMC, BBBY or FRC or any of the other meme stocks. But it's all just meming the stocks u…
No, at no point was anyone taking umbridge with short selling. They had issues with large hedge funds trying to kill companies, that may be where your confusion lies.
Also, adding FRC in there is an interesting move. Do you blame retail traders for that?
Re: WallStreetBets coin tanks 90% after insider dumps holding
#33Earlier quoted context omitted.
There is a big difference between a coordinated effort and open source intelligence which is what most people are performing on WSB.
Most pump and dump schemes present themselves as intelligence/analysis; there is no content-based objective differentiation, just intent and good-faith. But, actually, some of the WSB stuff is openly coordinated strategy, not intelligence, overtly seeking to manipulate enough action to cause an outcome, not providing intelligence/analysis on what os likely to occur without active intervention
None of the successful stuff is coordinating a pump and dump. You may get the odd post where someone does try but it doesn't go anywhere.
> But, actually, some of the WSB stuff is openly coordinated strategy, not intelligence, overtly seeking to manipulate enough action to cause an outcome, not providing intelligence/analysis on what os likely to occur without active intervention
That would not be correct, no. If you're talking about trying to trigger a short squeeze then that is mechanically different from a pump and dump.
A short squeeze does not require the participants to raise the price, it requires a restriction of the publicly available float in order to trap "shorts" and then, when their options expire and they must purchase the shares to satisfy the contract, it creates a massive demand for shares on what is now an illiquid stock and this results in the price rising.
There have been many occasions when they have tried to squeeze a stock but I have not seen one where they have tried to attempt a pump and dump.
Re: WallStreetBets coin tanks 90% after insider dumps holding
#34Earlier quoted context omitted.
It certainly has that reputation but it is largely unearned in my experience. There is no explicit coordination happening to create pump and dumps. There has, on occasion, been some level of coordination when attempting to trigger a short squeeze but that is mechanically different than a pump and dump. What it does do, though, is spur memetic investment, which can create a short term frenzy for some stocks but it is…
2.5 years after the "MOASS", even after Ryan Cohen rugpulled WSB with BBBY, GME is still 6x the price it was before. Maybe it's all bagholders who are down 75% from Jan 2021, but that's still amazing.
The thing is, the GME situation is still developing. The new thing is that they're buying and directly registering their shares (DRS). This prevents brokers from lending shares out.
As a result of this, they own almost 25% of the company by themselves[0], which is absolutely incredible when you think about it. I know that they're expecting MOASS as a result of this and I'm a bit iffy on whether that can happen but I am eagerly watching to see what happens. Nothing like this has been attempted and it's just fascinating to me.
https://www.thestreet.com/memestocks/gme/76-million-gamestop...
Re: WallStreetBets coin tanks 90% after insider dumps holding
#35Simple pump and dump --- crypto bros must be slow learners.
More like compulsive gamblers well aware of the con but betting they can get out in time
They're betting on a significant population of slow learners still readily available to be fleeced. Otherwise, it's con artists trying to fleece each other.
Re: WallStreetBets coin tanks 90% after insider dumps holding
#36Earlier quoted context omitted.
> Nobody is trying to change short selling rules. Obviously, it was all just a ploy to trick Redditors into buying GME. If people actually cared about short selling, they'd describe new rules or regulations on the issue. That's all it ever was. There's not much else to the story. I guess I could go over the bull$$$$ arguments over AMC, BBBY or FRC or any of the other meme stocks. But it's all just meming the stocks u…
No, at no point was anyone taking umbridge with short selling. They had issues with large hedge funds trying to kill companies, that may be where your confusion lies. Also, adding FRC in there is an interesting move. Do you blame retail traders for that?
I blame WSB for making up bullshit stories about FRC going to $50 when FRC was clearly collapsing in reality.
It's the same pattern. Meme a lie really really hard, then screw over the community by taking money from the people who believes the lie.
No different from the GME price target of $1000 or any of the others WSB lies that people have fallen for. It's just a means to extract money from sheeple.
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It's all the same pattern. My question is how many times do the WSB Redditors have to get screwed over before they notice they are the marks getting played.
I don't blame retail for getting so blatantly manipulated. Everyone knows they're dumb money who will easily believe these lies.
I blame WSB leaders and moderators for so plainly taking advantage of retail investors and doing so for years.
Re: WallStreetBets coin tanks 90% after insider dumps holding
#37Earlier quoted context omitted.
No, at no point was anyone taking umbridge with short selling. They had issues with large hedge funds trying to kill companies, that may be where your confusion lies. Also, adding FRC in there is an interesting move. Do you blame retail traders for that?
I blame WSB for making up bullshit stories about FRC going to $50 when FRC was clearly collapsing in reality. It's the same pattern. Meme a lie really really hard, then screw over the community by taking money from the people who believes the lie. No different from the GME price target of $1000 or any of the others WSB lies that people have fallen for. It's just a means to extract money from sheeple. ------ It's all…
Is it possible that you lost money following WSB and that's where these opinions are coming from? Because these aren't exactly cogent arguments at this stage.
There is a huge disconnect between people throwing out price targets and a pump and dump, I don't think that I need to spell that out. One is over-enthusiasm, the other is crime.
For what it's worth, FRC was incredibly tradeable very early on in the beginning of the banking crisis, regularly doing very large swings. Though, what I believe you're talking about is the expectation the FRC would exceed expectations on earnings and would go on to return to its pre-crisis prices. This is not a pump and dump and makes sense. If the bank is no longer in trouble then you'd expect normality to resume. This did not turn out to be the case and it ended up being taken over by JPM. This is not a pump and dump in any way.
The price targets of $1000 for GME would have been met should they not have disabled the buy button but I believe that there would have been a really strong sell off at the upper $900s which would have had a big impact on the price and I'm not sure it would've recovered. Please see TSLA as a stock which has gained a huge market cap as a result of enthusiastic investors.
Re: WallStreetBets coin tanks 90% after insider dumps holding
#38Earlier quoted context omitted.
I blame WSB for making up bullshit stories about FRC going to $50 when FRC was clearly collapsing in reality. It's the same pattern. Meme a lie really really hard, then screw over the community by taking money from the people who believes the lie. No different from the GME price target of $1000 or any of the others WSB lies that people have fallen for. It's just a means to extract money from sheeple. ------ It's all…
Is it possible that you lost money following WSB and that's where these opinions are coming from? Because these aren't exactly cogent arguments at this stage. There is a huge disconnect between people throwing out price targets and a pump and dump, I don't think that I need to spell that out. One is over-enthusiasm, the other is crime. For what it's worth, FRC was incredibly tradeable very early on in the beginning o…
> Is it possible that you lost money following WSB
Nope. Try again.
> The price targets of $1000 for GME would have been met should they not have disabled the buy button
I do pity you that you're so deep in the conspiracy theories that you can't see reality.
GME stopped going up because the short squeeze ended. WSB mods needed to keep the story going so they sold you another lie.
Robinhood literally ran out of money trying to support the insane GME upswing and y'all turn it into a conspiracy theory about buy buttons being disabled.
Do you know what T+2 settlement is? That means Robinhood (or the various middlemen Robinhood uses) needs to hold your money (and stock) for 2-days before the transaction is actually settled. The WSB members were buying so hard that Robinhood (and their middlemen) literally ran out of cash and couldn't buy more stock.
Sure, it was fixed a day later when trades settled and cash opened up again. But this is how WSB takes a normal event and turns it into a conspiracy theory.
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But sure, whatever. You can keep believing the conspiracy theories/lies. Meanwhile, there's ya know, Congressional investigations into this, and questions about what regulations need to change here that have the answers.
But people prefer to trust lies on Reddit over the investigations these days, amirite?
Re: WallStreetBets coin tanks 90% after insider dumps holding
#39Earlier quoted context omitted.
Most pump and dump schemes present themselves as intelligence/analysis; there is no content-based objective differentiation, just intent and good-faith. But, actually, some of the WSB stuff is openly coordinated strategy, not intelligence, overtly seeking to manipulate enough action to cause an outcome, not providing intelligence/analysis on what os likely to occur without active intervention
None of the successful stuff is coordinating a pump and dump. You may get the odd post where someone does try but it doesn't go anywhere. > But, actually, some of the WSB stuff is openly coordinated strategy, not intelligence, overtly seeking to manipulate enough action to cause an outcome, not providing intelligence/analysis on what os likely to occur without active intervention That would not be correct, no. If you…
> None of the successful stuff is coordinating a pump and dump.
Memes are the mechanism to pump.
Selling when everyone else is still meming is the dump. The masses support the prices while you leave and take profits. Its basically a transfer of wealth from apes to the meme-leader (ie: the one who made the meme and pushed it to be popular)
And its 100% blatant. Thats what this whole topic is about: WSB doing a rug-pull on his own community through a cryptocoin.
Re: WallStreetBets coin tanks 90% after insider dumps holding
#40Earlier quoted context omitted.
Is it possible that you lost money following WSB and that's where these opinions are coming from? Because these aren't exactly cogent arguments at this stage. There is a huge disconnect between people throwing out price targets and a pump and dump, I don't think that I need to spell that out. One is over-enthusiasm, the other is crime. For what it's worth, FRC was incredibly tradeable very early on in the beginning o…
> Is it possible that you lost money following WSB Nope. Try again. > The price targets of $1000 for GME would have been met should they not have disabled the buy button I do pity you that you're so deep in the conspiracy theories that you can't see reality. GME stopped going up because the short squeeze ended. WSB mods needed to keep the story going so they sold you another lie. Robinhood literally ran out of money…
Sorry, no this is factually incorrect, I have already linked you to an article detailing why the momentum stopped. For what ever reason, the ability to buy was stopped on many more brokers than just Robinhood. In the UK, we also had Trading212 turn off the buy button. That is not up for debate, that is historical record.
You're the one currently engaging in conspiracy theories, I hope you see the irony in that.