2021 Stock Market

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HFCS

Well-Known Member
Aug 13, 2010
67,145
54,198
113
LA LA Land
That is what is so funny about this -- there is nothing illegal going on here.

But it is still (collectively) manipulating a stock price.

The degenerates on WSB found a loophole, and they're punishing these hedge funds with it.

I will absolutely love it when legislation gets proposed. Going to need a new word for hypocrisy.
 
  • Agree
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SoapyCy

Well-Known Member
Oct 10, 2012
20,023
9,760
113
grundy center
That is what is so funny about this -- there is nothing illegal going on here.

But it is still (collectively) manipulating a stock price.

The degenerates on WSB found a loophole, and they're punishing these hedge funds with it.

I still don't know HOW they did it. Im pretty astute when it comes to how to invest but how did a collection of unrelated people drive the price up? I'm not asking "what is shorting", I'm asking how they forced shirts to cover?
 
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CloniesForLife

Well-Known Member
SuperFanatic
SuperFanatic T2
Apr 22, 2015
13,710
17,320
113
I have some $500 in fun money what do I put it in to get on this ride?
 

Sigmapolis

Minister of Economy
SuperFanatic
SuperFanatic T2
Aug 10, 2011
24,875
36,692
113
Waukee
how did a collection of unrelated people drive the price up?

How...?

They just bought a lot of GME. You know, the traditional way you raise a stock's price.

It really is just that simple. That is what is brilliant about this. It doesn't take an exotic strategy.

You just need to buy it.

The reason this has never really happened before was because retail investors could never coordinate with each other to have enough buying power to drive the price up and bury the short-sellers.

But then came along Wall Street Bets, a popular subreddit describing itself as, "4chan found a Bloomberg Terminal."

Now the retail buyers can coordinate with each other. And they're on a search-and-destroy mission.

I love it!
 
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bos

Legend
Staff member
Apr 10, 2006
29,669
5,255
113
Looks like Schwab/Ameritrade is restricting trade on GME, AMC to ease the burden on their servers. So there will be some delays.
 

JM4CY

Well-Known Member
SuperFanatic
SuperFanatic T2
Aug 23, 2012
33,367
64,277
113
America
God I would love to see webcam on some high rollers on wall sheet refreshing that subreddit over and over shitting their pants praying to god one of their businesses isn't next.
 

ISUCyclones2015

Doesn't wipe standing up
SuperFanatic
SuperFanatic T2
Dec 19, 2010
13,852
9,196
113
Chicago, IL
God I would love to see webcam on some high rollers on wall sheet refreshing that subreddit over and over shitting their pants praying to god one of their businesses isn't next.
There's a live chat/discord with 150k people that's even better to watch lol
 

pulse

Well-Known Member
Mar 24, 2006
9,086
2,397
113
I still don't know HOW they did it. Im pretty astute when it comes to how to invest but how did a collection of unrelated people drive the price up? I'm not asking "what is shorting", I'm asking how they forced shirts to cover?

Those GME stock owners also told their brokers not to lend their shares short. Don’t piss off gamers who are good at math. Those big shorters have been pooping and scooping for a long time. Fun to behold.
 
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BCClone

Well Seen Member.
SuperFanatic
SuperFanatic T2
Sep 4, 2011
61,413
55,959
113
Not exactly sure.
Got 20 shares of Nokia and 10 of AMC to just see if this goes crazy. I've peed away more money than that on stupid things so I decided to see if I can make a couple bucks here.
 

ISUCyclones2015

Doesn't wipe standing up
SuperFanatic
SuperFanatic T2
Dec 19, 2010
13,852
9,196
113
Chicago, IL
TD Ameritrade and other brokers limiting trading on GME, AMC, and others should literally be illegal. What's the definition of "limiting" how is that regulated? Wtf?
 
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BCClone

Well Seen Member.
SuperFanatic
SuperFanatic T2
Sep 4, 2011
61,413
55,959
113
Not exactly sure.
TD Ameritrade and other brokers limiting trading on GME, AMC, and others should literally be illegal. What's the definition of "limiting" how is that regulated? Wtf?

I wonder if they are limiting it on margin accounts. If someone has cash in there to cover it, it should not be blocked. If being borrowed, I could kind of understand them protecting themselves.
 
  • Agree
Reactions: Tri4Cy