Poll of the Day > GameStops stock price surge is a great example of coming together and positivity

(+) Yeah! (+)

Muscles posted...

So it's not fishy at all that the rich hedge fund companies (in this case Melvin Capital, Citadel, and Point72) were at risk of going under due to the surging prices of the stock they were short selling and then the trading of said stock just stops?

To be brutally honest, I don't think you understand how any of this works. And I think it would take significant effort for me to get you to do so, as well as fight the army of false and unsupported assumptions embedded in your beliefs.

So you don't find it fishy that the rich hedge fund companies are changing the rules to screw over the common man, got it

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Muscles posted...

So it's not fishy at all that the rich hedge fund companies (in this case Melvin Capital, Citadel, and Point72) were at risk of going under due to the surging prices of the stock they were short selling and then the trading of said stock just stops?

The whole thing makes no sense. I wouldn't be surprised if the whole thing is some type of astroturfed pump and dump scheme at this point. The amount of money put into the stock is ludicrous. It is far more than the common man driving up the stock.

With that said, I don't like companies like robin hood making decisions on what I can trade.

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DragonClaw01 posted...

The whole thing makes no sense. I wouldn't be surprised if the whole thing is some type of astroturfed pump and dump scheme at this point. The amount of money put into the stock is ludicrous. It is far more than the common man driving up the stock.

$600 stimulus check, plus giving people the tools to actually buy into stocks, plus a very clear direction (+support), and a... honestly deeply malicious view for the companies that are involved.

https://edition.cnn.com/2021/01/27/politics/gamestop-stock-surge-trumpism/index.html

this is the dumbest fucking article Ive ever read

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shadowsword87 posted...

$600 stimulus check, plus giving people the tools to actually buy into stocks, plus a very clear direction (+support), and a... honestly deeply malicious view for the companies that are involved.

What support? The thing shot off like a rocket to the stratosphere. At what price point would you say GME has support.

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DragonClaw01 posted...

What support? The thing shot off like a rocket to the stratosphere. At what price point would you say GME has support?

Social support for the people investing.

DirtBasedSoap posted...

https://edition.cnn.com/2021/01/27/politics/gamestop-stock-surge-trumpism/index.html

this is the dumbest fucking article Ive ever read

What an idiot. He questions the end game of the people buying the stock, like obviously its to make money, that's the end game of buying any stocks

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Muscles posted...

What an idiot. He questions the end game of the people buying the stock, like obviously its to make money, that's the end game of buying any stocks

if you start to lose, the best strategy is to turn the game off and blame trump/nazis/the altright

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shadowsword87 posted...

Social support for the people investing.

What does investing in gamestop stock have to do with gamestop? It is not like this is an ipo or anything. The company is not benefiting too much from this increased price point . Anyways I doubt there are all that many people concerned with gamestop, certainly my boomer parents don't care. Furthermore, let's be real, computers are the main thing that does volume now a days. I guess the terminators care about GME.

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At this point I wouldn't even be a little bothered if people started rioting and looting on Wall street, we're gonna need to French revolution this shit sooner or later anyways

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DragonClaw01 posted...

What does investing in gamestop stock have to do with gamestop? It is not like this is an ipo or anything. The company is not benefiting too much from this increased price point . Anyways I doubt there are all that many people concerned with gamestop, certainly my boomer parents don't care. Furthermore, let's be real, computers are the main thing that does volume now a days. I guess the terminators care about GME.

I think he meant the people investing are supporting each other, its a movement

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DragonClaw01 posted...

What does investing in gamestop stock have to do with gamestop? It is not like this is an ipo or anything. The company is not benefiting too much from this increased price point . Anyways I doubt there are all that many people concerned with gamestop, certainly my boomer parents don't care. Furthermore, let's be real, computers are the main thing that does volume now a days. I guess the terminators care about GME.

I...what are you even talking about?

TheSlinja posted...

I think he meant the people investing are supporting each other, its a movement

Yeah, that's it.

Muscles posted...

What an idiot. He questions the end game of the people buying the stock, like obviously its to make money, that's the end game of buying any stocks

Cizilla has always been a moron in a suit, the definitive vision of a centrist corporate shill.
But yeah, he's really outdone himself this time.

Except that this time, amateur investors decided to revolt against the pros. Using Reddit -- and a subreddit known as r/wallstreetbets -- the amateurs began a coordinated effort of buying GameStop stock to drive its price higher and higher. (It's worth noting that Reddit was also a gathering spot for some of the most ardent Trump supporters in 2016.)

Reddit's a gathering spot for ALL SORTS of groups, and reddit was one of the first social media companies to ban the alt right crazies, so what the fuck "dig" was this even supposed to be?

its truly hilarious how they try to label everything that works against them as a hare group or just trump supporters. people who think reddit is pro-trump are fucking morons and dont know at all what theyre talking about.

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DirtBasedSoap posted...

https://edition.cnn.com/2021/01/27/politics/gamestop-stock-surge-trumpism/index.html

this is the dumbest fucking article Ive ever read

Loool

Boomers crack me up.

Actually, that was more of a billionaire bitch-fest.

"Think of it this way: Giving someone the finger might make you feel good in the moment. But it doesn't solve anything."

Yeah but bankrupting market manipulators helps the whole world you smelly pig.

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Yellow posted...

Loool

Boomers crack me up.

i just left a mean comment on his Instagram. I fuckin #gotem

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Yellow posted...

fest.

"Think of it this way: Giving someone the finger might make you feel good in the moment. But it doesn't solve anything."

its just a big middle finger from racist trump supporters!!!

nevermind the money they made, its just a big middle finger!!!!

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DirtBasedSoap posted...

its just a big middle finger from racist trump supporters!!!

nevermind the money they made, its just a big middle finger!!!!

Uhh, uhh, quick, start a squabble between the Republicans and the Democrats!

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I'm assuming it's in the tos that Robin hood can remove access to anything at anytime so that shouldn't be illegal. Same way twitter can ban orange baby. We are then allowed to protest/ boycott the decision in both cases. thats just free speech and free market so don't complain about people getting mad at robinhood. You got mad at twitter. They didn't feel pressured to change their stance. For what its worth, Robinhood does seem to be at least partially folding to pressure and reopening purchasing.

However, if citadel conspired with Robinhood to coordinate an attack on the price of a stock or stocks that is not a private company making a legal decision or free speech that is illegal market manipulation per current regulations.

There was a lot of complaining from the big boys when retail investors in a completely free and open forum merely spoke about gme stock data and made purchases accordingly. That was cited by then as fraudulent coordination (its not) worthy of sec intervention (its not). And then those same people loaded up shorts right before they had brokerages block retail from buying? Is this real life?

1000% not the same as Twitter banning orange baby.

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Yellow posted...

Loool

Boomers crack me up.

on the news they keep calling reddit and r/wallstreetbets chat rooms

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https://youtu.be/O2rGTXHvPCQ

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Eat Man posted...

I'm assuming it's in the tos that Robin hood can remove access to anything at anytime so that shouldn't be illegal. Same way twitter can ban orange baby.

umm...nope

Trading stocks isn't the same as moderators censoring people to protect feelings.

Whatever TOU is being used by the Robinhood app, it doesn't supersede the actual laws in place to protect people's investments and property.

If I'm giving Robinhood money to invest in stocks I WANT, they better fuckin' do it. ...it's just that simple

Or else:

https://www.nationalreview.com/news/robinhood-hit-with-class-action-lawsuit-over-gamestop-trading-restrictions/

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How to destroy your business in one easy step.

Robinhood: Disallow buying of GME.


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Raze_Razel posted...

umm...nope

Trading stocks isn't the same as moderators censoring people to protect feelings.

Whatever TOU is being used by the Robinhood app, it doesn't supersede the actual laws in place to protect people's investments and property.

If I'm giving Robinhood money to invest in stocks I WANT, they better fuckin' do it. ...it's just that simple

Or else:

https://www.nationalreview.com/news/robinhood-hit-with-class-action-lawsuit-over-gamestop-trading-restrictions/

I'm willing to bet Robinhood paying off the settlement is just going to be a slap on the wrist for them. Robinhood is more interested in selling off the data they collect from customer trades (which could be worth more to them).

so Robinhood is making off with your customer data, while Citadel uses their customer data to secure more trades in the future.

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Also, i feel like we live in a data driven economy where customer/people's data (being a data point) is worth more than currency (dollars, cents, cryptocurrency).

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https://www.inc.com/jason-aten/robinhood-is-facebook-of-investing-youre-data-not-customer.html

I'm in the boat with this theory, that the user's of Robinhood are not the customers, it is the hedgefunds like Citadel and Melvin alike who robinhood sells the trade data to.

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My friend bought AMC stocks yesterday for $14 and was literally locked out of doing anything but selling them today, and watched them go down to like $8.
He's really pissed off. Military member, moderate conservative type, voted for Trump in 2016. I got him agreeing that there needs to be a wealth tax, jail for the hedge funds involved in this, and all sorts of other "socialist" viewpoints. Just anecdotal, but if they play their cards right, I think the AOC wing of the Democrats potentially just got a bunch more people willing to give their policy ideas a shot due to this debacle, lol

https://rumble.com/vdd56l-wall-street-billionaires-commit-robbery-in-plain-sight.html

Dave Portnoy is absolutely right here.

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What's hilarious is this stupid stunt was supposed to tank GME's value but it hardly dipped and it's now climbing back up. Now thanks to the publicity this is getting, I expect it's going to skyrocket as soon as Robinhood and the like allow buying again.

https://mobile.twitter.com/business/status/1354686824283844610

Interesting choice of words Bloomberg...

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"stock market insurrection"

lmao

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streamofthesky posted...

My friend bought AMC stocks yesterday for $14 and was literally locked out of doing anything but selling them today, and watched them go down to like $8.
He's really pissed off. Military member, moderate conservative type, voted for Trump in 2016. I got him agreeing that there needs to be a wealth tax, jail for the hedge funds involved in this, and all sorts of other "socialist" viewpoints. Just anecdotal, but if they play their cards right, I think the AOC wing of the Democrats potentially just got a bunch more people willing to give their policy ideas a shot due to this debacle, lol

and people really say that it's impossible to convert people to the other side, lol

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I think people within the financial services bubble really don't realize just how much the entire country fucking despises them.
Trumpers picked a really dumb champion in a kleptocratic billionaire, but they ultimately were mad about the same corruption and abuse by the rich that the Dems hate, too.
Do they even know that most of the country is cheering the redditors on and rooting for some hedge funds to go out of business?

streamofthesky posted...

I think people within the financial services bubble really don't realize just how much the entire country fucking despises them.
Trumpers picked a really dumb champion in a kleptocratic billionaire, but they ultimately were mad about the same corruption and abuse by the rich that the Dems hate, too.
Do they even know that most of the country is cheering the redditors on and rooting for some hedge funds to go out of business?

It's all aristocrats who were born into wealth.

People like to slam universities for being liberal snowflake headquarters, but they ignore the business and law schools that just serve as douchebag factories.


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This whole movement is a scam. The people up top and losing money will probably just be bailed out again

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Blightzkrieg posted...

It's all aristocrats who were born into wealth.

People like to slam universities for being liberal snowflake headquarters, but they ignore the business and law schools that just serve as douchebag factories.

https://www.youtube.com/watch?v=zTT4it_f7Jc

Just watched this, basically covers what I was saying. People legit are willing to throw away money just to hurt Wall Street, they hate them so fucking much.

streamofthesky posted...

My friend bought AMC stocks yesterday for $14 and was literally locked out of doing anything but selling them today, and watched them go down to like $8.
He's really pissed off. Military member, moderate conservative type, voted for Trump in 2016. I got him agreeing that there needs to be a wealth tax, jail for the hedge funds involved in this, and all sorts of other "socialist" viewpoints. Just anecdotal, but if they play their cards right, I think the AOC wing of the Democrats potentially just got a bunch more people willing to give their policy ideas a shot due to this debacle, lol

I'm not sure I follow his logic or see the reason for his lizard brain rage. He held AMC at 14. According to you, he couldn't buy more, but could sell and close his position. The stock predictably had a day where it tanked like any pump and dump/short squeeze, just like GME did today, and went down to 8. Now most people wouldn't want to buy on a day where a stock has such a massive loss. Catching a falling knife and all that. So that's what he's mad about? Not being able to buy more when the stock he held went from 14 to 8? Or is he mad he didn't sell even though you say he could have. Confusing reaction.

reruns_revenge posted...

I'm not sure I follow his logic or see the reason for his lizard brain rage. He held AMC at 14. According to you, he couldn't buy more, but could sell and close his position. The stock predictably had a day where it tanked like any pump and dump/short squeeze, just like GME did today, and went down to 8. Now most people wouldn't want to buy on a day where a stock has such a massive loss. Catching a falling knife and all that. So that's what he's mad about? Not being able to buy more when the stock he held went from 14 to 8? Or is he mad he didn't sell even though you say he could have. Confusing reaction.

NO ONE could buy.
That was the problem.
That's why it slid back down.

He's pissed because the potential for the stock was artificially rigged to only go downwards, leaving him w/ a crappy choice of selling at a loss or hope that hedge funds knock this corrupt market fixing off and the stock price is allowed to climb back up (and "the rich showing restraint" isn't a bet I'd ever make...).
It isn't that he made a bad bet and it didn't go up like he expected. It's that some millionaires and billionaires rigged the fucking game to ensure it wouldn't go up.

streamofthesky posted...

NO ONE could buy.
That was the problem.
That's why it slid back down.

He's pissed because the potential for the stock was artificially rigged to only go downwards, leaving him w/ a crappy choice of selling at a loss or hope that hedge funds knock this corrupt market fixing off and the stock price is allowed to climb back up (and "the rich showing restraint" isn't a bet I'd ever make...).
It isn't that he made a bad bet and it didn't go up like he expected. It's that some millionaires and billionaires rigged the fucking game to ensure it wouldn't go up.

I see. This is the depth of how people are processing this situation. So if NO ONE (emphasis original) could buy, how could ANYONE (emphasis mine) sell?

You people think that "hedge funds" are some single monolith that operates as a hive mind. You know who hedge funds normally like to "steal" from? Other hedge funds.

reruns_revenge posted...

I see. This is the depth of how people are processing this situation. So if NO ONE (emphasis original) could buy, how could ANYONE (emphasis mine) sell?

You people think that "hedge funds" are some single monolith that operates as a hive mind. You know who hedge funds normally like to "steal" from? Other hedge funds.

YOU as a filthy peasant couldn't buy, but our Hedge Fund betters could buy if you sold to claw back the losses they were about to take from their short positions.

See the problem yet?

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reruns_revenge posted...

I see. This is the depth of how people are processing this situation. So if NO ONE (emphasis original) could buy, how could ANYONE (emphasis mine) sell?

You people think that "hedge funds" are some single monolith that operates as a hive mind. You know who hedge funds normally like to "steal" from? Other hedge funds.

He could sell. He couldn't buy.
Presumably it was the same experience for others.

When people can only sell, what direction do you think the stock price will go?

And I love how you can say that last part when the hedge funds coincidentally bought up more shorts right before these trading companies shut down these "meme stocks". How strange...

LuciferSage posted...

YOU as a filthy peasant couldn't buy, but our Hedge Fund betters could buy if you sold to claw back the losses they were about to take from their short positions.

See the problem yet?

What do you mean I couldn't buy? I could easily have had a buy order filled. It wouldn't have been a problem for me. I don't use margin and have a lot of cash liquidity in my securities account. I also don't use robinhood. The problem that robinhood probably has is that it let way too many people to take out way too much on margin and had to tighten restrictions for inevitable margin calls that could have brought down robinhood itself and the people that have accounts on the platform.

Sounds like your real complaint is that robinhood taking action to prevent a real risk of failure and insolvency led to a stop in the pricing part of the pump. Even though a crash and price drop is inevitable during the dump.

streamofthesky posted...

He could sell. He couldn't buy.
Presumably it was the same experience for others.

When people can only sell, what direction do you think the stock price will go?

And I love how you can say that last part when the hedge funds coincidentally bought up more shorts right before these trading companies shut down these "meme stocks". How strange...

Where did I say that? I didn't. You completely missed the point. For all of the hedge funds on the short side, other hedge funds and investors are going to line up on the other side of the trade. That's how it works. I get that you understand none of this. But the claim that a few hedge funds that have a few billion at stake in one trade - and are a teeny tiny fraction of the capital available in the investing industry and the hedge funds and investors on the other side of the trade - can somehow dictate and control whether a stock can be bought or sold by someone else is pure idiocy.

Here's a thought. Read a little bit about how trading works and what hedge funds do. Then read about the Ackman vs. Icahn battle on HLF. I know you won't do it, but it illustrates the point.

Edit: Late on this point. But if your friend held AMC at 14 and couldn't buy today, that means he opened the position yesterday. AMC closed at about 20 yesterday. Your friend could easily have sold above 19 before closing and made 5 or roughly 30% on the trade. He knew this was a super super high risk trade and he decided to hold instead of taking a quick and easy profit. Now he's complaining that the price dropped all the way down to 8, and blames it on retail traders not being able to keep pumping it. In other words, he could have made an easy 30% but got greedy and lost on the gamble. I'm sorry, but fuck that guy sideways with a chainsaw and no lube. The guy he should be mad about is the one he sees in the mirror.

reruns_revenge posted...

You people think that "hedge funds" are some single monolith that operates as a hive mind

why do you think that anyone thinks that

I dont think you have a good idea of what other people think

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Mead posted...

why do you think that anyone thinks that

I dont think you have a good idea of what other people think

It should be self-evident. But I'll explain it anyway because apparently you have difficulty understanding the point. Throughout this thread, for example, people keep repeating the words "wall street" and "hedge funds" and keep lobbing the flimsy accusation that "wall street" and "hedge funds" have conspired against joe six pack to deprive him of his opportunity to fuel a short squeeze and profit from it. They don't really identify who, why, or how, but it's always "wall street" and "hedge funds". They get lumped together in some amorphous group that seemingly all act in concert as part of this conspiracy. That's not too difficult to see from how people talk about this subject. It's also banal and completely unsurprising because it's just part of the same tired repetitive us vs. them rhetoric that people like you regurgitate all the time. See also "billionaires".

So you want people to only talk about specific individuals that manage hedge funds or to only refer to specific hedge fund groups by name

That seems perfectly reasonable

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Blightzkrieg posted...

It's all aristocrats who were born into wealth.

People like to slam universities for being liberal snowflake headquarters, but they ignore the business and law schools that just serve as douchebag factories.

Maybe if they're from an European country.
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why are yiu talking like robinhood was the only app to freeze buys, a bunch of them did, its very clearly deliberate

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