News Miscellany

[slimshady2357]

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
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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.

[JoeP]

Stop the steal!

[ChuckF]

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.

[Ari]

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!

[slimshady2357]

Wall Street has pissed off so many people that Ted Cruz is agreeing with AOC

Fully agree. 👇 https://t.co/rW38zfLYGh

— Ted Cruz (@tedcruz) January 28, 2021

But you know, fuck you TED anyway.

[Stephen Maturin]

"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.

[ChuckF]

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?

[BrotherMan]

Originally Posted by slimshady2357

But you know, fuck you TED anyway.

Oh. She havin none of it.

https://twitter.com/AOC/status/1354848253729234944

[Stephen Maturin]

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?

So would I.

Originally Posted by ChuckF

What happens when they get unexpected capital injection?

We may be fixin' to find out.

[ChuckF]

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.

[JoeP]

[JoeP]

When Hedge Funders and others loot our markets its all good. But when retail investors destroy a hedge fund then all of a sudden CNBC analysts start calling for regulation, blame foreign powers, and talk "fundamentals"

I call BULLSHIT: https://t.co/DzoUsyy1T6 https://t.co/SxSksAu6oT

— Saagar Enjeti (@esaagar) January 27, 2021

[JoeP]

Remember when American were complaining about how their stimulus checks were not enough and some members of the 1% blowjob squad told them to invest it?

Ah, the irony

— Not A Leftist (@GeneralStrikerr) January 28, 2021

[fragment]

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.

[ChuckF]

I understand from fucking morons that it's from people spending their stimulus checks on Robinhood.

[Kamilah Hauptmann]

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[Kamilah Hauptmann]

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[JoeP]

never in my 3 days of trading have I ever seen anything like this

— Sean Murray (@NoMansSky) January 28, 2021

[Kamilah Hauptmann]

Wall Street clearly underestimated a generation raised on highly coordinated Friday night World of Warcraft raids.

— James F. Puerini (@J_Puerini) January 28, 2021

[Basset Hound]

What's the difference between gambling on stocks and gambling on the horses? One of those horses has to win.

[Ari]

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.

[Kamilah Hauptmann]

I think we're seeing here is a small sampling of what happens when enough people feel they've little to nothing to lose.

[Kamilah Hauptmann]

The basic mood:

[BrotherMan]

As bothered as I am by Game Stop for other reasons, I'm way more madder at Wall Street.

[Kamilah Hauptmann]

can't wait to explain this week to my therapist

— Reddit (@reddit) January 28, 2021