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01-28-2021, 02:17 PM
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forever in search of dill pickle doritos
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Re: News Miscellany
Well, the suits figured out a way to respond to this "oh my stars! market manipulation" by... well massive market manipulation of course.
Robinhood, one of the main apps for retail investors has stopped trading on GME, AMC, etc...
Maybe they should change their twitter bio
Es0ocXuVkAQIngz.jpg
This means that a load of the reddit users are stuck. They can close their positions or sell, but they can no longer buy. The big boys all still have access to these markets and are able to adjust their positions, but not the small guys.
The markets haven't opened yet, but the overnight prices were soaring again until this happened about an hour ago. GME was at $500 now back down to $300. AMC was over $20, now back to $13.
Shame, I really wanted to see the what happened tomorrow when many of the option calls expire and millions of stock had to be bought back. It will still play out, but at much lower prices and of course the hedge funds will still feel the pain, but not like they should have done.
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01-28-2021, 03:10 PM
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Solipsist
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Join Date: Jul 2004
Location: Kolmannessa kerroksessa
Gender: Male
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Re: News Miscellany
Stop the steal!
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01-28-2021, 03:12 PM
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liar in wolf's clothing
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Join Date: Feb 2005
Location: Frequently about
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Re: News Miscellany
I thought Robinhood was only restricting buys, which is, obviously massive market manipulation. But I understand that sale of pre-settlement data flows to hedge funds (i.e. hedge funds pay them to get a heads up on trades that are executed but not settled) is an important source of revenue for them. That's what I hear. I don't know.
But they are also poking the hornet's nest.
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01-28-2021, 05:05 PM
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I read some of your foolish scree, then just skimmed the rest.
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Join Date: Jan 2005
Location: Bay Area
Gender: Male
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Re: News Miscellany
Oh I hope this just got better! Now there’s a beast to fight. Had wallstreet let the hedge fund fall and let reddit do this one or two more times, people would have gotten bored, but the organized response shows there’s a fight to be had, and there are a lot of people looking for any sort of big beast to fight against.
There have been a few grey/black hat hacker groups that have popped up recently that appear to be independent from any state, and there’s a small but real chance wallstreets willingness to reach outside the rules will piss off or challenge one of them, and then things will get good!
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01-28-2021, 05:49 PM
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forever in search of dill pickle doritos
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Re: News Miscellany
Wall Street has pissed off so many people that Ted Cruz is agreeing with AOC
But you know, fuck you TED anyway.
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01-28-2021, 05:53 PM
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Flyover Hillbilly
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Join Date: Jul 2004
Location: Juggalonia
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Re: News Miscellany
"Dumb Money" individual investors, whose traditional role in shit like this is getting fleeced for the financial benefit of God's chosen hedge fund managers, appear to fucking with shorting efforts re: AMC, BlockBuster Liquidating, and Bed Bath & Beyond stock as well. It is impossible to put into words how goddamn hilarious all this is.
__________________
"We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both." ~ Louis D. Brandeis
"Psychos do not explode when sunlight hits them, I don't give a fuck how crazy they are." ~ S. Gecko
"What the fuck is a German muffin?" ~ R. Swanson
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01-28-2021, 06:04 PM
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liar in wolf's clothing
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Join Date: Feb 2005
Location: Frequently about
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Re: News Miscellany
The Blockbuster liquidation entity is AMAZING. Like, what do you even DO with that? I would think that the liquidation entity would have some sort of fiduciary obligation to use that capital for the benefit of creditor-owners? What happens when they get unexpected capital injection?
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01-28-2021, 06:17 PM
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A Very Gentle Bort
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Join Date: Jan 2005
Location: Bortlandia
Gender: Male
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Re: News Miscellany
Quote:
Originally Posted by slimshady2357
But you know, fuck you TED anyway.
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Oh. She havin none of it.
https://twitter.com/AOC/status/1354848253729234944
__________________
\V/_ I COVLD TEACh YOV BVT I MVST LEVY A FEE
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01-28-2021, 06:23 PM
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Flyover Hillbilly
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Join Date: Jul 2004
Location: Juggalonia
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Re: News Miscellany
Quote:
Originally Posted by ChuckF
I would think that the liquidation entity would have some sort of fiduciary obligation to use that capital for the benefit of creditor-owners?
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So would I.
Quote:
Originally Posted by ChuckF
What happens when they get unexpected capital injection?
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We may be fixin' to find out.
__________________
"We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both." ~ Louis D. Brandeis
"Psychos do not explode when sunlight hits them, I don't give a fuck how crazy they are." ~ S. Gecko
"What the fuck is a German muffin?" ~ R. Swanson
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01-28-2021, 08:30 PM
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liar in wolf's clothing
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Join Date: Feb 2005
Location: Frequently about
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Re: News Miscellany
Transaction restrictions probably the beginning of the end of Robinhood. (Not sure that is a bad thing.). Twitter reports of them forcing sell orders and not allowing cancelation to mitigate "unreasonable risk involved in brokering your position." That doesn't really make sense to me except when I think about it being straight up wire fraud and then it makes sense.
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01-28-2021, 08:38 PM
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Solipsist
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Join Date: Jul 2004
Location: Kolmannessa kerroksessa
Gender: Male
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Re: News Miscellany
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01-28-2021, 08:38 PM
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Solipsist
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Join Date: Jul 2004
Location: Kolmannessa kerroksessa
Gender: Male
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Re: News Miscellany
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01-28-2021, 08:39 PM
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Solipsist
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Join Date: Jul 2004
Location: Kolmannessa kerroksessa
Gender: Male
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Re: News Miscellany
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01-28-2021, 09:40 PM
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mesospheric bore
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Join Date: Jul 2005
Location: New Zealand
Gender: Male
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Re: News Miscellany
I wonder if any Libertarians are finally realising the rich will always tilt the tables in their own favour.
Nah, somehow it'll all be the guvmint's fault.
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01-28-2021, 09:54 PM
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liar in wolf's clothing
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Join Date: Feb 2005
Location: Frequently about
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Re: News Miscellany
I understand from fucking morons that it's from people spending their stimulus checks on Robinhood.
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01-28-2021, 10:04 PM
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Shitpost Sommelier
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Re: News Miscellany
__________________
Peering from the top of Mount Stupid
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01-28-2021, 10:48 PM
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Shitpost Sommelier
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Re: News Miscellany
__________________
Peering from the top of Mount Stupid
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01-30-2021, 12:45 AM
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Solipsist
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Join Date: Jul 2004
Location: Kolmannessa kerroksessa
Gender: Male
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Re: News Miscellany
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01-30-2021, 04:46 AM
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Shitpost Sommelier
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Re: News Miscellany
__________________
Peering from the top of Mount Stupid
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01-30-2021, 06:08 AM
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Hound
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Join Date: Feb 2016
Location: The Dog House
Gender: Male
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Re: News Miscellany
What's the difference between gambling on stocks and gambling on the horses? One of those horses has to win.
__________________
If you wanna shoop, you gotta shuggety.
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01-30-2021, 06:20 AM
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I read some of your foolish scree, then just skimmed the rest.
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Join Date: Jan 2005
Location: Bay Area
Gender: Male
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Re: News Miscellany
I’m just
Of the random youtube I’ve been watching has been The WAN show by Linus Tech Tips. Today’s show he decided to tell the audience he would not only spend the chat donations on GameStonks but was going to 5x it... part way through he smartly put a cap of $50k as the $10k donation was quickly reached after he said he was going to ride it out.
The crazy thing is this wasn’t some hyped and promoted thing but just one of the topics of the day, just the momentum of the movement, his quintupling and trust he’s really going to ride it to screw the hedgefunds raised $10k in 20 minutes.
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01-30-2021, 06:42 AM
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Shitpost Sommelier
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Re: News Miscellany
I think we're seeing here is a small sampling of what happens when enough people feel they've little to nothing to lose.
__________________
Peering from the top of Mount Stupid
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01-30-2021, 06:45 AM
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Shitpost Sommelier
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Re: News Miscellany
The basic mood:
__________________
Peering from the top of Mount Stupid
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01-30-2021, 10:49 AM
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A Very Gentle Bort
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Join Date: Jan 2005
Location: Bortlandia
Gender: Male
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Re: News Miscellany
As bothered as I am by Game Stop for other reasons, I'm way more madder at Wall Street.
__________________
\V/_ I COVLD TEACh YOV BVT I MVST LEVY A FEE
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01-30-2021, 07:41 PM
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Shitpost Sommelier
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Re: News Miscellany
__________________
Peering from the top of Mount Stupid
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