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Bloomberg: How WallStreetBets Pushed GameStop Shares to the Moon

No Excuses

By No Excuses
in The Tailgate

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Llevron

Llevron

Posted
Posted
1 minute ago, Spaceman Spiff said:

 

They're not going to let this go, nor should they.

 

And that ass**** Cooperman just put a giant target on his back.  

 

Right. They are playing with people who feel like they have nothing to lose and everything to gain. People like that dont quit. Unless they are the Wizards. 

 

Im bitter 

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Destino

Destino

Posted
Posted
3 minutes ago, Spaceman Spiff said:

 

They're not going to let this go, nor should they.

 

And that ass**** Cooperman just put a giant target on his back.  

And let’s also include the idea that Reddit just realized they can inflate stock prices and make a killing simply by finding good options and agreeing on just one or two.  If they can make ten times their money by working together, they’re going to try again.

 

revenge is good but champagne breakfast on a boat is better.  

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Spaceman Spiff

Spaceman Spiff

Posted
Posted
4 minutes ago, Destino said:

And let’s also include the idea that Reddit just realized they can inflate stock prices and make a killing simply by finding good options and agreeing on just one or two.  If they can make ten times their money by working together, they’re going to try again.

 

revenge is good but champagne breakfast on a boat is better.  

 

I'm into it.  Here's hoping they succeed again and again.  

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tshile

tshile

Posted
Posted

I’m wrong sometimes. And usually my default state is cynical. But...

 

I don’t really think the redditors have all that much power here. And I think they’re a little too stuck up their ass about how important and powerful they think they are at the moment. I really think this boils down to a few simple concepts 

 

- as @No Excuses already pointed out, any sec action will be a slap on the wrist

 

- I think a class action lawsuit is probably not going to work because what they did is part of their EULA. Was it shady and done to manipulate things? Of course we all know that. But my bet is they’ll be able to hide behind the EULA and some well worded legal arguments. 
 

- they’re going to leave robinhood? Robinhood might become vapor ware? Probably their most likely move and outcome, but who cares? The parent company clearly made the call to throw their child company under the bus to protect their significantly larger investment interests. I’m positive they absolutely considered all that before making their move (including the above legal issues). 
 

look I’m in the boat kinda with you. I had skin the game. Not nearly as much as others. And ultimately I won’t be harmed like many others. 
 

but I think a bunch of people on the internet have their heads stuck up their ass and aren’t evaluating this correctly. 
 

But yeah I’m wrong sometimes so 🤷‍♂️ 

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tshile

tshile

Posted
Posted
42 minutes ago, Destino said:

And let’s also include the idea that Reddit just realized they can inflate stock prices and make a killing simply by finding good options and agreeing on just one or two.  If they can make ten times their money by working together, they’re going to try again.

 

revenge is good but champagne breakfast on a boat is better.  

Meh. 
 

what allowed this to happen was a hedge fund getting sloppy and making a short they couldn’t cover. Presumably because they knew they didn’t need to. Until this happened again. 
 

again - the other moves listed in this whole thing were not the same as the GME move. 
 

im not saying there’s no future in the masses uniting here. I’m just saying we’re talking about an incredibly specific. Hedge funds will adjust. Lobbyists will try to alter the rules. 
 

im a betting man. If I had to bet on whether we just watched a revolution in investing start, or whether the hedge funds will find a way to protect themselves from this... my money is in the hedge funds...

 

OF COURSE I BOUGHT NOKIA SO WHAT DO I KNOW

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zCommander

zCommander

Posted
Posted
28 minutes ago, Spaceman Spiff said:

Maaaan, I hope AMC gets back up to 16 so I can get out.  It's up to 12 now.  Probably not gonna happen but here's hoping.

 

 

 

 

 

I posted in the other thread but RH is lifting the hold on the stocks that they put on today. Starting tomorrow people will be able to buy again on RH. So hold on and don't sell. 

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tshile

tshile

Posted
Posted
8 minutes ago, zskins said:

 

I posted in the other thread but RH is lifting the hold on the stocks that they put on today. Starting tomorrow people will be able to buy again on RH. So hold on and don't sell. 

Limited buying was the phrasing. 
 

Quote

It’s been a tough day, and we’re grateful to you for being a Robinhood customer. In light of the extraordinary market conditions this week, we temporarily limited buying for certain securities this morning. Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and may make adjustments as needed.  

This was a temporary decision made to best continue serving you, and was not an easy one to make. We know it’s led to frustration and confusion, and wanted to provide some clarity. 

 

As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today. 

 

To be clear, this decision was not made on the direction of any market maker we route to or other market participants. 

 

The past year in particular has shown us that the financial markets are for everyone—not just institutional investors and hedge funds. We’ve seen a new generation enter the market, and they’re sparking conversations about what it means to be an investor. We stand in support of you, our customers. Democratizing finance for all means giving more people access, not less. 
 

We’ll keep monitoring market conditions and will update this Help Center article with the latest changes. We also published a blog post regarding today’s events. 

 

Thank you again for being a Robinhood customer. We’re so grateful for your support. 

 

Sincerely,
The Robinhood Team

 

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Spaceman Spiff

Spaceman Spiff

Posted
Posted
12 minutes ago, zskins said:

 

I posted in the other thread but RH is lifting the hold on the stocks that they put on today. Starting tomorrow people will be able to buy again on RH. So hold on and don't sell. 

 

Eh, maybe.  Maybe I'll put a sell limit a little higher so I can get something.

 

This isn't investing, it's gambling.  So I was a little late to the game and missed the Gamestop stock, tried to be cool with AMC.  It was fun but I'm not under an illusion that this thing will start hockeysticking tomorrow.  

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Destino

Destino

Posted
Posted
12 minutes ago, Hersh said:

I would like to see reforms pre and after market trading. Everyone and every entity should be able to trade at any time. And don’t get me started on IPOs 

And insider trading should be investigated by the NSA, and anyone caught cheating on investments totaling over a million dollars should be stripped of their wealth and exiled to Qatar as a migrant laborer.

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