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Discord bans r/WallStreetBets server, subreddit went private for a while

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Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#961

Post by grumple »

argonaut wrote: post #892
grumple wrote: post #827

Earlier quoted context omitted.

The stock doesn’t actually need to be shorted that much. We’re seeing the same thing happen with Koss, BB, and AMC right now. The infamous VW short squeeze was also caused by significantly less short interest: https://www.autoweek.com/news/industry-news/a35340727/heres-...

We are seeing them become the next meme stock that people are trying to pump. Unlike GameStop their pumps have very little to do with short squeezes because these stocks were not being shorted anywhere near as much as GameStop was.

Short squeezes can occur with significantly less short interest than 100% if others want to maintain controlling interest in a stock or are otherwise unwilling to sell except for over market value. Even a small change in a stock's liquidity can result in a large impact on available price.

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#962

Post by bko »

fao_ wrote: post #960
bko wrote: post #946

Earlier quoted context omitted.

> This time, sure, it was Reddit and the subreddit may be suspended. Next time it'll be a Discord or Telegram board or something. It's just... so easy It's not so easy. There are concentrated tech players. There's decentralized systems but they aren't there yet in terms of usability for millions of people to just log on and use seamlessly like they do w/ Reddit. It may get there eventually, but its nowhere close to b…

> There's decentralized systems but they aren't there yet in terms of usability for millions of people to just log on and use seamlessly like they do w/ Reddit. https://mastodon.online

I recently tried mastodon, but I found it kind of confusing. I wanted to get some reasonable people to follow based on my interests (programming, tech, philosophy, etc), but I couldn't really find how to find these people. I tried googling top mastodon people to follow to no avail. No beginners guides apart from the mundane how to create an account. If anyone has any tips, let me know

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#963

Post by jariel »

philistine wrote: post #891
jariel wrote: post #826

Earlier quoted context omitted.

I'm sorry but this is a possibly irresponsible take for at least a few reasons. The populism on this issue is completely out of touch with reality. 1) As the stock pops due to irrational upwards pressure - the hedges funds might lose a bit, but in reality a lot of 'regular people' will be left holding the bag. When the stock inevitably crashes, those 'regular people' will lose a lot and it will probably be a more mea…

With regards to number one, what will happen is exactly the reverse of what you’re saying. Hedge funds have shorted more of the stock than exists. That means that when they decide to buy back the stock to close their shorts, they will need to buy every single stock of the company, return it to the people who lent them their stock, and those people will have to now sell it, so they can buy it again to return it to oth…

No, the funds will take a haircut and move on, they likely already have.

The crash will be worse, and it will affect people personally - the plebes are going to lose a lot of money on this one in a few days when the market moves on.

That it will take days to unwind doesn't really matter - it will top out at some point, and it will go down. The timeframe is less relevant.

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#964

Post by mrguyorama »

read_if_gay_ wrote: post #852
lm28469 wrote: post #796

Earlier quoted context omitted.

A few hundred thousands, maybe a few millions at most. A drop in the bucket of internet users

If you look around, tons of communities have been getting banned/quarantined/etc. recently. It began years ago with literal hate groups like FPH or coontown on reddit, pedos on 8chan, later came pickup artists and incels, TheDonald, Chapo Trap House, then Apple, Amazon and Google banning Parler, YouTube and Twitter restricting Trump, and now, finally, even WSB. In isolation, every one of them is a drop in the bucket.…

Except the overlap in many of those communities is HUGE. Each isn't a drop in the bucket, they are often the same drop

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#965

Post by ChainOfFools »

nix23 wrote: post #788
jsilence wrote: post #727

Earlier quoted context omitted.

They are free to run their own Matrix, Mattermost, Rocketchat, IRC, whatever node...

Mumble? Teamspeak? It's like everyone forgot the old battle-tested Warhorses.

I think IRC (which OP mentioned) outranks them all ifor the battle tested warhorse title

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#966

Post by teddyh »

jeegsy wrote: post #887
mewse wrote: post #770

Earlier quoted context omitted.

> The internet needs a true public square Honest question: why?

For one thing, conversations are a lot easier to have when there is an implicit rule that context is always considered when evaluating word usage. For example, the word 'autist' in the context of 'stonks' and 'wsb' is not understood to mean an attempt to mock people with disabilities and therefore unlikely to get anyone offended as a result.

People get offended because they want to get offended. They then rationalize it after the fact, usually by resorting to “certain words are always wrong”. But if a friend occasionally does something annoying, you could either elect to ignore it, or you could take a stand and make it a make-or-break issue. But the choice to make it an issue is yours.

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#967

Post by argonaut »

grumple wrote: post #961
argonaut wrote: post #892

Earlier quoted context omitted.

We are seeing them become the next meme stock that people are trying to pump. Unlike GameStop their pumps have very little to do with short squeezes because these stocks were not being shorted anywhere near as much as GameStop was.

Short squeezes can occur with significantly less short interest than 100% if others want to maintain controlling interest in a stock or are otherwise unwilling to sell except for over market value. Even a small change in a stock's liquidity can result in a large impact on available price.

Sure that is possible. I have not seen anything indicating that is the case being made with AMC etc.

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#968

Post by user-the-name »

deadbunny wrote: post #822
user-the-name wrote: post #806

Earlier quoted context omitted.

Stock market manipulation.

Except everything they are doing is perfectly legal. They noticed some people had overextended their short position, they took action (action that "legitimate" traders were also taking) and stand to make some money. I don't see how that is market manipulation any more than short sellers shorting over 100% of a stock. Maybe there is an argument for regulation to prevent this but the financial sector has been staunchly…

It might be. But it is also dangerously close to market manipulation.

Thus, it is "controversial". That is the question I was answering.

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#969

Post by fatnoah »

jug wrote: post #777

It does feel like a watershed moment regarding hedge funds. This is the first time netizens capitalize on hedge fund short favorites and it has been surprisingly easy to cause an absolute catastrophy in the order of billion losses for them. I heard Melvin Capital may even have gone bankrupt? And how to do it? You get people to invest in a stock that is expected by the industry to go belly up. Seriously. It's that eas…

>It does feel like a watershed moment regarding hedge funds.

Agree. I think we're all seeing that hedge success for many is more about market influence than actual market prediction.

Re: Discord bans r/WallStreetBets server, subreddit went private for a while

#970

Post by cacarr »

jug wrote: post #777

It does feel like a watershed moment regarding hedge funds. This is the first time netizens capitalize on hedge fund short favorites and it has been surprisingly easy to cause an absolute catastrophy in the order of billion losses for them. I heard Melvin Capital may even have gone bankrupt? And how to do it? You get people to invest in a stock that is expected by the industry to go belly up. Seriously. It's that eas…

Now Robinhood has stopped allowing purchases of those securities. While I suppose Robinhood would like to have good relations with hedge funds leading up to an IPO, they just pissed off a significant fraction of their actual customers -- and boy are they ever gonna get an earful about it.
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