Current Events > RoaringKitty returns causing GME surge and RH shuts off buy

(+) Yeah! (+)

Here we go again...

GME = gamestop

RH = Robinhood

RoaringKitty = DFV = DeepFuckingValue

Wow didn't know it hit $10. If it goes to $40 today gonna regret not buying.

At this point...it might not be a bad thing to halt trading. Sure its shady, maybe illegal..etc, BUT! Many many people got burned the last time. For every succesful story theres another one where people lost their savings and even loans they took out just to participate. Theyre practically gambling.

CARRRNE_ASADA posted...

At this point...it might not be a bad thing to halt trading. Sure its shady, maybe illegal..etc, BUT! Many many people got burned the last time. For every succesful story theres another one where people lost their savings and even loans they took out just to participate. Theyre practically gambling.

This is different than other stock how?

Remember that enzc stock?

Are people are upset people who been degening at GME for long time about to make absolute bank?

And for some reason a giant "financial institution" can tell people to lose money on their pet stock and no one gets outraged but a bunch of redditors just buying a stock provokes this reaction.

WingsOfGood posted...

This is different than other stock how?

Literally has its own movie. Also the institutional investors are probably more savvy this time around compared to the YOLO retail investors.

CARRRNE_ASADA posted...

Literally has its own movie. Also the institutional investors are probably more savvy this time around compared to the YOLO retail investors.

"Probably"
No people lose money everyday off their advice. But you don't have an issue with it. Or do you? Let me know.
So why is GME an issue?
Not like these GME people claim to be experts and you follow their advice and still get hosed (which financial experts do claim this and still hose you)

The fact of the matter is you play the stock market you are likely to get hosed.

Yet it is only a problem if you get hosed by GME?
That is strange.

Anyways looks like it running up to $25 this morning.

Market is open. Not dropping. DFV this powerful?

Dammit I was just looking at GME last week too.

HOLY MOLY

it is hitting $40 already

Edit: just as I post went from $37 to 35

No cell, no sell. We hold.

I can't believe these GME idiots are still doing this shit

Edit: Actually, I guess I can. People in cults do weird shit, after all.

Up 100 percent now from yesterday

UnholyMudcrab posted...

I can't believe these GME idiots are still doing this shit

Seems their idiocy will pay off if they bought alot at $25 and under

Makeveli_lives posted...

Up 100 percent now from yesterday

Wasn't it $10?

$35 is more like 350%

Edit: now down to $30

WingsOfGood posted...

Seems their idiocy will pay off if they bought alot at $25 and under

Their idiocy would pay off at the expense of the other idiots they sell it to. It is the literal definition of a pump and dump. Keith Gill himself made millions dumping on easily susceptible redditors who don't understand basic stock market principles, and they still worship him for dumping on them.

Remember when WSB stuck it to the rich by getting gamestop ceo a $170 million pay out? Inspiring times lmao.

what?

Kuuko posted...

Their idiocy would pay off at the expense of the other idiots they sell it to. It is the literal definition of a pump and dump. Keith Gill himself made millions dumping on easily susceptible redditors who don't understand basic stock market principles, and they still worship him for dumping on them.

You realize this is how stocks work right?

Your accredited financial advsior tells you to buy TESLA because it is a "safe" stock.
He sells his shares and his company does after you buy and it drops.

People only upset about GME because they aren't the "house" so they not allowed to win.

WingsOfGood posted...

You realize this is how stocks work right?

Your accredited financial advsior tells you to buy TESLA because it is a "safe" stock.
He sells his shares and his company does after you buy and it drops.

People only upset about GME because they aren't the "house" so they not allowed to win.

Is that how your stocks work? You must be doing something really wrong if you keep getting scammed and think it's happening to everyone else too. Read a Bogle book and chill and make easy returns. Scams like the ones you mention are exactly what the FTC cracks down on, which is why Gill and the Robinhood CEO were pulled in front of Congress to begin with.

WingsOfGood posted...

You realize this is how stocks work right?

Your accredited financial advsior tells you to buy TESLA because it is a "safe" stock.
He sells his shares and his company does after you buy and it drops.

People only upset about GME because they aren't the "house" so they not allowed to win.

That is, as a matter of fact, not how stocks work. That's how securities fraud works, and that accredited financial adviser isn't going to have his accreditation or his job for much longer.

Kuuko posted...

Is that how your stocks work? You must be doing something really wrong if you keep getting scammed and think it's happening to everyone else too. Read a Bogle book and chill and make easy returns. Scams like the ones you mention are exactly what the FTC cracks down on, which is why Gill and the Robinhood CEO were pulled in front of Congress to begin with.

That is literally how stocks work.
The way to not get hosed is you buy into a portfolio with diverse stocks because...some drop as others go up.

But what you as a layman don't know is the company offering you that portfolio has interest in selling certain stocks to you. They profit. This is legal.

UnholyMudcrab posted...

That is, as a matter of fact, not how stocks work. That's how securities fraud works, and that accredited financial adviser isn't going to have his accreditation or his job for much longer.

That is how it is supposed to be but not how it actually works. No one is going to court for advising you to buy TESLA.
Jim Kramer is infact not in jail.

Furthermore Citadel says everyone short GME it sucks then citadel makes money when it goes down.
Did they get busted for security fraud? Nope.
It has been 3 years.

Stock market is corrupt but people only whine when the average joe is beating the big sharks.

WingsOfGood posted...

That is literally how stocks work.
The way to not get hosed is you buy into a portfolio with diverse stocks because...some drop as others go up.

But what you as a layman don't know is the company offering you that portfolio has interest in selling certain stocks to you. They profit. This is legal.

Lol I can tell you are an ape or at least learned about the stock market through the ape movement because you're fundamentally misunderstanding basic tenets of the stock market and think invisible enemies are everywhere conspiring to stop you and gamestop from being profitable. It is honestly impressive the cargo cult has lasted this long, and lasted this long without ever actually learning anything at that. I have a feeling you also think every failing company is manipulated by naked short sellers or something right.

But to your point, please elaborate more about how the millions of Americans investing in basic S&P 500 or Russell 2000 index funds in their 401ks, are being pumped and dumped like Gamestop is. How it's all fraud everywhere, and how Gamestop is the poor little guy who's just trying to do a tiny little pump and dump like VTSAX apparently is.

Kuuko posted...

But to your point, please elaborate more about how the millions of Americans investing in basic S&P 500 or Russell 2000 index funds in their 401ks, are being pumped and dumped like Gamestop is.

These are longterm promises greater than three years or you would claim it was a pump and dump back when the whole market was red.
GME is barely at 3 years yet it is a pump and dump?

Something seems off in your logic. Also retirement accounts have bought GME too.

In any caze retirement tied to stocks only serves to make Wallstreet richer. Ever thought about why that is?

Dan Olsen vid on this was great, its weird to see things become cults in real time.

Zero_Destroyer posted...

Dan Olsen vid on this was great, its weird to see things become cults in real time.

GME was in the dumpers. You believe people were culting when it was a $10 stock?
Meanwhile anyone can buy a $10 stock and sell at $30 and make a little money.

But that seems to upset some people?

Zero_Destroyer posted...

Dan Olsen vid on this was great, its weird to see things become cults in real time.

I was about to reference that video. Loved the in-depth look at all of the moving bodies combined with the snark and snide commentary and skits between chapters.

I got in on the GME pump and dump the first time for a few hundred in profit. But buying right now would definitely leave me holding the bag so I'm gonna pass on this one.

WingsOfGood posted...

These are longterm promises greater than three years or you would claim it was a pump and dump back when the whole market was red.
GME is barely at 3 years yet it is a pump and dump?

Something seems off in your logic. Also retirement accounts have bought GME too.

The current ape movement doesn't even align with why Gill originally bought it and told others to buy it. It transformed from "gamestop will make more revenue soon with new consoles releasing" to "gamestop is the catalyst through which the revolution will begin. all of us lifelong losers will topple the elite and demand BAJILLIONS per share of our failing retail company and they can do nothing to stop us. DRS DRS THE END TIMES ARE NIGH". The prophets of the cult are the pump and dumpers. Who spread these weird nonsensical stock market ramblings ("DD", as you would refer) to encourage each other to buy more. Selling stocks is for non-believers, and those who would dissuade you from buying more of the holy elixir of gamestop stock are faithless heretics who should be rightly ridiculed. The shadowy enemy will be defeated if you encourage all of your friends and family to buy more gamestop. It is a pump and dump turned apocalyptic fantasy cult, with Ryan Cohen and Gill himself as the messianic figures in the center.

None of that is how regular stocks work. None of that is how regular people invest. Regular people look through the plan prospectus at work while selecting their 401k portfolio on a boring Fidelity or Vanguard webapp. They select between one of a few mutual funds based on which one probably has the lowest expense ratio. The funds offered are weighted to track some index, like the S&P 500 for example. There's no emotion to it. There's no manipulation, unless you think tracking the market is manipulation. Yes gamestop would be part of mutual funds, because it is in the market too.

Regular people get wealthy doing that. I'm pretty well off myself doing boring investing, having begun by reading all of Jack Bogle's books when I was very young. Most people end up retiring this way through 401ks and IRAs they steadily invested in doing boring stuff for decades. What you're doing is trying to skip the boring stuff, both to get the high of gambling and also because you're easily susceptible to get rich quick schemes. Deep down you know nothing about the gamestop cult actually makes any sense. But you justify it by roleplaying like you're actually the good guy taking down the evil bad guys, and not just trying to make a quick buck.

New generation of bagholders are going to be even more annoying than the last one.

ironman2009 posted...

New generation of bagholders are going to be even more annoying than the last one.

I'd argue the old generation never left and they're going to shill hard to onboard anyone naive to the first GME pump.

Kuuko posted...

None of that is how regular stocks work. None of that is how regular people invest. Regular people look through the plan prospectus at work while selecting their 401k portfolio on a boring Fidelity or Vanguard webapp. They select between one of a few mutual funds based on which one probably has the lowest expense ratio. The funds offered are weighted to track some index, like the S&P 500 for example. There's no emotion to it. There's no manipulation, unless you think tracking the market is manipulation. Yes gamestop would be part of mutual funds, because it is in the market too.

https://www.fool.com/investing/mutual-funds/2008/07/01/what-mutual-funds-dont-tell-you.aspx

As crazy as that sounds, something very much like that happens all the time on Wall Street. Mutual fund managers may have to report share prices every day, but they don't have to show what stocks they own anywhere near as frequently. While some funds report their holdings every month, many others only reveal their investments on a quarterly basis. As you might imagine, the lack of more frequent disclosure gives investors incomplete information that's potentially subject to manipulation.
The doggie in the window
Because so many mutual funds disclose their holdings only a few times each year, fund managers can time new purchases and sales of stocks they own in a way that masks their actual impact on portfolio returns. To convince shareholders that their money is invested in stocks that have done well, fund managers can add winning stocks to portfolios near the end of the quarter, while selling shares of companies that have done poorly.
Although this practice, known as window dressing, is far from the only factor that affects share prices, its effects are often visible. This quarter, for instance, the downtrodden financial sector dropped nearly 9% in just the last six trading sessions, with companies like JPMorgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC) leading the way down. Meanwhile, soaring energy stocks like ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX) led the sector up over 3% in a dropping overall market.
Look past the window
Because it's so easy for fund managers to use window dressing tactics to fill their portfolios with attractive-looking stocks after they've already gone up, investors have to work harder and look beneath the surface of quarterly reports.

Fyi my info on how stocks work comes from people in the industry.
There is manipulation going on but most people don't care as long as they get some kind of return. There is a reason they become wealthy while you get a small breadcrumb after decades.

Also fyi the motley fool is super anti-GME

WingsOfGood posted...

https://www.fool.com/investing/mutual-funds/2008/07/01/what-mutual-funds-dont-tell-you.aspx

Fyi my info on how stocks work comes from people in the industry.
There is manipulation going on but most people don't care as long as they get some kind of return. There is a reason they become wealthy while you get a small breadcrumb after decades.

Also fyi the motley fool is super anti-GME

Most people don't invest in actively managed mutual funds. Actively managed mutual funds are indeed filled with scum trying to make themselves look useful and smart by doing that kind of thing. That's exactly why people like Bogle and Buffett recommend index funds, and why most 401k plans offer those by default (this is even more true after Biden passed the recent SECURE Act). Index funds don't have this problem - you can view the holdings right now and the holdings are obvious because they're the index they're tracking.

Good job googling this thing you didn't really understand very well. Classic ape behavior. I notice you're not as much into addressing the dialogue in this topic about the sensational cult behavior surrounding gamestop and why it's an utter anomaly and pump and dump scam completely disconnected from rational investing. I think you should focus more on that part, because that's the part I think driving your misunderstandings about everything else.

ZMythos posted...

I'd argue the old generation never left and they're going to shill hard to onboard anyone naive to the first GME pump.

Begs the question how they haven't run out of money.

I'd like to take this moment to remind everyone that something like 70% of retirement savings are tied to the stock market.

Just something to think about.

Kuuko posted...

Most people don't invest in actively managed mutual funds.

This is false.
If you know little info on this topic that is ok to admit.

https://knowledge.wharton.upenn.edu/article/if-index-funds-perform-better-why-are-actively-managed-funds-more-popular/

But if this is so, why do a majority of investors still choose active management? Indexing, or passive management, accounts for only about 13% of assets in mutual funds holding stocks. It doesnt seem to make sense. Experts have offered a variety of explanations: Investors are duped by slick managed-fund marketing, they dont know the facts or they believe you get what you pay for that paying higher active-management fees should buy better results. Maybe they are deferential to professionals

Institutions heavily push their own funds. Most people defer to the "experts".

It is nice you did different from reading a book but most people aren't gonna read several books that negate what the expert dude they talk to recommends.

And their job and payout and promotion is all about selling these so they will recommend.

Board_hunter567 posted...

I'd like to take this moment to remind everyone that something like 70% of retirement savings are tied to the stock market.

Just something to think about.

Yep. This was a calculated move which made wallstreet very wealthy. Not much we can do about it if we want to retire.

WingsOfGood posted...

This is false.
If you know little info on this topic that is ok to admit.

https://knowledge.wharton.upenn.edu/article/if-index-funds-perform-better-why-are-actively-managed-funds-more-popular/

Institutions heavily push their own funds. Most people defer to the "experts".

It is nice you did different from reading a book but most people aren't gonna read several books that negate what the expert dude they talk to recommends.

You googled this just now and cherrypicked an article from a decade ago on purpose hahaha. You're not up to date with this. As I said, index funds are increasingly the default option in everyone's 401k, and it will be more true as the SECURE 2.0 Act takes effect. Look at any article from THIS YEAR instead.
https://www.forbes.com/sites/chriscarosa/2024/04/02/index-funds-surge-in-popularity-but-pose-risks-for-the-market/?sh=64f750165f38
https://www.morningstar.com/funds/index-funds-have-officially-won

Anyway, let's stay on topic and talk about the cult you're a part of. Talk to us more about how you will be a bajillionaire little guy. Because our messiah is tweeting secret messages to us, and this is evidence that gamestop will imminently take over the global economy. Or something along those lines.

Kuuko posted...

You googled this just now and cherrypicked an article from a decade ago on purpose hahaha. You're not up to date with this. As I said, index funds are increasingly the default option in everyone's 401k, and it will be more true as the SECURE 2.0 Act takes effect. Look at any article from THIS YEAR instead.
https://www.forbes.com/sites/chriscarosa/2024/04/02/index-funds-surge-in-popularity-but-pose-risks-for-the-market/?sh=64f750165f38
https://www.morningstar.com/funds/index-funds-have-officially-won

Well that is nice. My info was not that outdated. Your article says this literally only happened 3 months ago.

And also it just barely:

As of right now, with index funds capturing 53% of the market, you dont see any negative impact on the capital markets.

That means as of today 47% or so of the market is still using managed and subject to the manipulation I speak of.

Also your articles are worried about that number going up.

ironman2009 posted...

New generation of bagholders are going to be even more annoying than the last one.

If it reaches old heights. This is a pump and dump scheme. Which happens plenty of time from "gurus" on the market.

Scardude posted...

If it reaches old heights. This is a pump and dump scheme. Which happens plenty of time from "gurus" on the market.

What other gurus and stocks can you think of?

WingsOfGood posted...

Well that is nice. My info was not that outdated. Your article says this literally only happened 3 months ago.

And also it just barely:

That means as of today 47% or so of the market is still using managed and subject to the manipulation I speak of.

Also your articles are worried about that number going up.

You're being pedantic on the index fund point because you found out you're wrong. The reason you brought up mutual funds to begin with is you were trying to act like the entire market is as corrupt as your pump and dump scams are. And you don't want to admit that regular people doing regular index fund investing, the most popular form of investing, is not very corrupt.

This seems to be a common theme with meme stock and crypto nerds. There's no defensible position in regards to the space being utterly filled to the brim with scams. You can even see obvious scams plastered the replies to Gill's recent tweets. So the only defense is "asckually everything is corrupt". No. No, it's mostly just you guys that are this easily scammed. And you're scamming others, whether you know it or not, by trying to get them to join your cult too.

Kuuko posted...

You're being pedantic on the index fund point because you found out you're wrong. The reason you brought up mutual funds to begin with is you were trying to act like the entire market is as corrupt as your pump and dump scams are. And you don't want to admit that regular people doing regular index fund investing, the most popular form of investing, is not very corrupt.

This seems to be a common theme with meme stock and crypto nerds. There's no defensible position in regards to the space being utterly filled to the brim with scams. You can even see obvious scams plastered the replies to Gill's recent tweets. So the only defense is "asckually everything is corrupt". No. No, it's mostly just you guys that are this easily scammed. And you're scamming others, whether you know it or not, by trying to get them to join your cult too.

False.

I explain how stocks worked and I was right.

In Jan 2024 managed beat Index in how many people were doing one

In 2023 managed beat Index

In 2022 managed beat index

In 2021 managed beat index

Congrats though, yes index has now beat managed for the past 3 months.

Does that negate all these years? No

No it does not

WingsOfGood posted...

What other gurus and stocks can you think of?

https://vancouversun.com/news/local-news/ vancouver-man-pleads-guilty-in-pump-and-dump-scheme-in-us

Here's a recent one.

WingsOfGood posted...

False.

I explain how stocks worked and I was right.

In Jan 2024 managed beat Index in how many people were doing one

In 2023 managed beat Index

In 2022 managed beat index

In 2021 manages beat index

Confrats though, yes index has now beat managed for the paat 3 months.

Doea that negate all these years? No

No it does not

Where are you seeing that managed funds beat index funds? Genuinely curious.... All modern research is that in the long term there are almost no active investors who can consistently beat the market. Some do beat it by chance in the same way that if you get a million people in the same room and flip a coin 10 times, some will flip heads 10 times in a row. Even Buffett, one of the only investors to beat the market long-term, advocates for index fund investing.

Again this is off-topic though. Because again, you brought up actively managed mutual funds because people told you gamestop is an obvious pump and dump. And you responded trying to say that the entire market is corrupt, as evidenced by a random article on actively managed mutual funds you googled on the spot. I don't know why you're trying to argue that actively managed funds are superior now after just trying to say they're corrupt (they're demonstrably not superior anyway). I don't think you know what you're arguing either and you're just flailing around because now you don't want to talk about the fact that this topic is about an apocalyptic twitter stock messiah you believe in. And it's kind of hard to explain the gamestop eschatology you believe in to a normal person audience.

Kuuko posted...

Where are you seeing that managed funds beat index funds? Genuinely curious.... All modern research is that in the long term there are almost no active investors who can consistently beat the market. Some do beat it by chance in the same way that if you get a million people in the same room and flip a coin 10 times, some will flip heads 10 times in a row. Even Buffett, one of the only investors to beat the market long-term, advocates for index fund investing.

Again this is off-topic though. Because again, you brought up actively managed mutual funds because people told you gamestop is an obvious pump and dump. And you responded trying to say that the entire market is corrupt, as evidenced by a random article on actively managed mutual funds you googled on the spot. I don't know why you're trying to argue that actively managed funds are superior now after just trying to say they're corrupt (they're demonstrably not superior anyway). I don't think you know what you're arguing either and you're just flailing around because now you don't want to talk about the fact that this topic is about an apocalyptic twitter stock messiah you believe in. And it's kind of hard to explain the gamestop eschatology you believe in to a normal person audience.

Beat as in how many has one not how well it did.
Managed underperforms.

Your article was about how index finally, finally FINALLY just 3 months ago was above managed in adoption.
You tried to use this recent info to suggest I don't know what I am talking about.

Yet what I said was true in:
Jan 2024
All of 2023
All of 2022
All of 2021
All of 2020 and on and on

But hey, maybe for the past 3 months it wasn't? Nice

Oh you're talking about market participation in one or the other? Yes index funds are now more popular. Like I said in this topic all along, they are the most popular option. They weren't always the most popular option. Now they are the most popular option, and the divide will grow larger in the future.

You're the one who tried to argue that they're not the most popular when I said they are. Because they are. Do you also argue when people say "Biden is the current president" by bringing up times in the past when Biden wasn't the current president? I said index funds are the most popular because they're the most popular.

Anyway, can we please get back on topic to the gamestop cult stuff and the pump and dump. I'd rather see you talk about that because it's more funny.

Kuuko posted...

They weren't always the most popular option

Wasn't for the past 20 years.

Literally just now are.
Glad we cleared that up.

So when I explained the instituion rolls a stock into their package this is true for the past 20+ years.
Even now it is still true for like 47% of market participation.

Kuuko posted...

Anyway, can we please get back on topic to the gamestop cult stuff and the pump and dump. I'd rather see you talk about that because it's more funny.

Do you think the guys doing the idiotic DRS stuff are why it jumped today?
They been supposedly doing this for the past 3 years and the stock just kept dropping.
Did a huge surge of new "cultists" join or something? Or the surge is unrelated?

WingsOfGood posted...

For the past 20 years.

Literally just now are.
Glad we cleared that up.

So when I explained the instituion rolls a stock into their package this is true for the past 20+ years.
Even now it is still true for like 47% of market participation.

I think I'm repeating myself and it's obvious to you and everyone so I don't know how much I should keep repeating. But again as I said, index fund is the most popular and has been growing massively in popularity for decades, ever since the late great Jack Bogle first began proselytizing them as a way to avoid corruption and unnecessary fees in the market.

They continue to grow in popularity because they get steady safe returns. For 99% of people this is the best form of investing. It is not a get rich quick scheme, like meme stocks and crypto are. It is not filled with scams and fraud, like meme stocks and crypto are. It is boring and takes a few decades to be wealthy. Which is not fun for degenerate gamblers and scammers. That's why I brought them up in this topic, which is about degenerate gamblers and scammers.

For some reason you want to harp on how index only the most popular option now all of the sudden. You're right, thankfully they are now the most popular option now all of a sudden. And thankfully index funds are growing in popularity because thankfully not everyone is gullible enough to invest their life into meme stocks and get rich quick schemes. And especially not gullible enough to turn into a stock into a cargo cult with religious tenets that would be too bizarre to be included in an onion article or a Douglas Adams novel.

People relying on GME to hold their retirement up over the next 20 years are LOL or even LMAO worthy