Although there is definitely a David/Goliath fairness scandal in here, this piece doesn't seem to know the difference between market makers, brokers, and hedge funds.
WallStreetBets vs WallStreet: It's not about the money anymore
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Re: WallStreetBets vs WallStreet: It's not about the money anymore
#42I don't know- there must be institutional players on the long side by now right? Either way, _eventually_ someone will be left holding the bag when the stock comes back down to earth.
Retail traders are literally locked out of buying new shares... they were a scapegoat the whole time. $GME is up 11% as of the writing of this post. Who is buying it? This is actually making me angry to watch. -edit- I had like one share - Robinhood just sold my shares without me ordering it. Dunno what happened there.
It's annoying. The regular guy should be able to profit off this too.
I was at the gym yesterday and heard like 5 people talking about stocks: gme, amc, bb. Everyone is trying to get in on this and they're trying to stop it. They bogged gme at open to scare people and now it's back up. If they didn't remove the option for users to buy they surely would have bought the dip.
Re: WallStreetBets vs WallStreet: It's not about the money anymore
#43I don't know- there must be institutional players on the long side by now right? Either way, _eventually_ someone will be left holding the bag when the stock comes back down to earth.
Retail traders are literally locked out of buying new shares... they were a scapegoat the whole time. $GME is up 11% as of the writing of this post. Who is buying it? This is actually making me angry to watch. -edit- I had like one share - Robinhood just sold my shares without me ordering it. Dunno what happened there.
Only some brokers were locking it out. Most of the traditional big names did not.
Re: WallStreetBets vs WallStreet: It's not about the money anymore
#44"The fastest way to get clicks... write a story about /r/WSB" said every website/media outlet editor.
Re: WallStreetBets vs WallStreet: It's not about the money anymore
#45I’m seeing so much news about this but don’t understand what’s happening. Can someone do a recap?
Its twitter but this thread is a pretty nice summary https://twitter.com/MrBrownEyes2020/status/13545170672407715...
Re: WallStreetBets vs WallStreet: It's not about the money anymore
#46[deleted]
Re: WallStreetBets vs WallStreet: It's not about the money anymore
#47This is market manipulation 101. I hope they pay for it, but I doubt any lawmaker is interested in investigating them.
Care to explain how this is market manipulation?
Not letting people buy forces everyone to either hold or sell, bringing down the prices. Moving to a new broker takes time for approval, transfer.
Re: WallStreetBets vs WallStreet: It's not about the money anymore
#48The author seems to have bought in a bit too much into the narrative in the WSB forum. This post reads more like a regurgitation of the grandiose pronouncements you see there rather than an insightful analysis of the situation.
Re: WallStreetBets vs WallStreet: It's not about the money anymore
#49Populism seems to so often miss the point / target and seems as manipulative as anything else this rant of an article is talking about.
Re: WallStreetBets vs WallStreet: It's not about the money anymore
#50Once again, this insistence on viewing 'Wall Street' as a monolothic entity. The largest asset management firm on Earth holds over 9 million Gamestop stock, none of the big banks that received bailouts in 08 are affected by this, 99.9% of hedge funds are not affected by this, high frequency traders are probably making a bundle. Institutional money was long Gamestop before this story entered the public consciousness.…
How is disabling purchases and broker-wide outages not bolstering hedge funds?
It's government intervention no matter how you look at it. Just because it's not a direct capital infusion does not make it any less bad