OT Gamestop: Wall Street + Animal House?

[Shaboid]

So ties between Robinhood and big hedge fund linvestors are starting to surface. Robinhood was a darling company in wsb and people have been anxiously waiting to meme it on ipo. Looks like it might get anti meme status, this is going go kill any ipo plans they had, wsb will crush them for revenge if the go public. There are already plans of a mass migration out of Robinhood

There are already people selling their position to leave robinhood, that's why prices are going down. El Pres for example.

 

[EL PRESIDENTE]

There are already people selling their position to leave robinhood, that's why prices are going down. El Pres for example.

I kept and will keep my position in the short squeeze stocks (except Blackberry, which I should have held on to but I was bleeding too much and I panic sold).

Everything else has been sold.

Still holding AMC, NOK and Dodgecoin

 

[Natebishop3]

So why are people holding onto them? Because they're waiting for the shorts to run out?

 

[EL PRESIDENTE]

So why are people holding onto them? Because they're waiting for the shorts to run out?

Yup, and they'll have to buy at the market price, which will cause the price to go up further.

 

[Natebishop3]

Yup, and they'll have to buy at the market price, which will cause the price to go up further.

Interesting..... but it could backfire right?

 

[EL PRESIDENTE]

Interesting..... but it could backfire right?

It could, but its more likely these hedge funds call in more favors. They've probably made some moves to protect themselves during these "glitches" the past two days.

 

[oldfisherman]

There is NO set time when an investor must sell a short.

An investor can hold on to a short as long as two conditions are met. And the broker lending the investor the money to buy the shorts alows the investor to
keep the short.

1) the investor has the funds to pay the broker any interest when due, and any fees.

2) If the stock increases in price, the investor must have the liquid funds available to cover the increase.

I'm not in the market now, on either side. But hope all of you make a $billion, and pay the taxes due on your profits.

 

[EL PRESIDENTE]

 

[EL PRESIDENTE]

 

[Minstrel]

Interesting..... but it could backfire right?

Depending on when they bought, the downside is tiny. In the case of GameStop, the price when all this started was like $2 a share. It's now getting up close to $100 a share. Not everyone can participate in the peak of the market, as each sell off will reduce the price, but everyone who got in early can net a profit on their original stake considering how low it started.

 

[Road Ratt]

Wall Street Elites Regulate, Deplatform Redditors Who Beat Them On GameStop.

 

[Natebishop3]

God it's funny how they illegally manipulated the stock by shorting it.... an actual law that they broke...... and now they're pissed?

 

[EL PRESIDENTE]

God it's funny how they illegally manipulated the stock by shorting it.... an actual law that they broke...... and now they're pissed?

Now they are gloating and laughing about their crimes and manipulation.

Point72 is who bailed out Melvin Capital.

 

[Haakzilla]

Now they are gloating and laughing about their crimes and manipulation.

...need mooooaaaarrrr example!

 

[EL PRESIDENTE]

Unverified but wouldn't surprise me:

 

[barfo]

God it's funny how they illegally manipulated the stock by shorting it.... an actual law that they broke...... and now they're pissed?

Shorting isn't illegal.

barfo

 

[barfo]

I'm not sure why anyone ever thought Robinhood was on their side.

barfo

 

[Haakzilla]

Shorting isn't illegal.

barfo

...I don't think you've been following along as to whats been exposed here

 

[barfo]

...I don't think you've been following along as to whats been exposed here

I was responding to what he wrote. Things that are illegal may have been done, but shorting isn't one of those things.

barfo

 

[donkiez]

This is turning into a unifying event. People in agreement

AOC, Ted Cruze, Ben Shapiro, Elizabeth Warren, Don Trump Jr, Bernie, Mark Cuban, Elon Musk. And more

 

[donkiez]

2021 has not disappointed so far

 

[EL PRESIDENTE]

This is turning into a unifying event. People in agreement

AOC, Ted Cruze, Ben Shapiro, Elizabeth Warren, Don Trump Jr, Bernie, Mark Cuban, Elon Musk. And more

And absolutely NOTHING will be done.

Few meaningless hearings, maybe a fine, slap on the wrist, and they'll all go out to a $500 a plate dinner together afterwards.

 

[EL PRESIDENTE]

Anyone have experience with Gemini for Crypto, founded by the Winklevoss Twins?

 

[SlyPokerDog]

 

[EL PRESIDENTE]

Robinhood is going to allow "limited" buying tomorrow of these securities. What a bunch of assholes. I hope they go under and their founder jumps in front of the F Train to Brooklyn.

 

[Road Ratt]

Reddit Exposed the Truth About the Stock Market.

 

[HailBlazers]

I'm not sure why anyone ever thought Robinhood was on their side.

barfo

 

[speeds]

Glad the irony of it being called Robinhood isn't getting lost.

 

[SlyPokerDog]

 

[SlyPokerDog]

You know if we keep helping each other with investments we could pool our money and buy the Blazers in a couple of months from now.