Thatsze Posted January 28, 2021 Share Posted January 28, 2021 Not sure how interested you all are in the stock market https://www.google.com/amp/s/www.cnet.com/google-amp/news/robinhood-app-td-ameritrade-restrict-trading-of-gamestop-amc-stock/ This is a tale of an outdated mall based retailer. Stock speculation, blatant market manipulation from large firms, an activist investor, and one borderline insane online trading forum. What are your thoughts? Edit: Right, I should probably disclose that I currently am holding gme. I do have an interest in the stock. 3 Link to comment Share on other sites More sharing options...
Popular Post Gorangutang Posted January 28, 2021 Popular Post Share Posted January 28, 2021 The markets are discrediting themselves by interfering in completely legitimate trades in order to seemingly try and benefit insiders. A free market would let it play out. Short selling is always a bet - a bet with a huge potential downside. Some people bet and lost and they should pay the price or reap the rewards as it happens. Certainly when all is said and done GME will leave many retail investors with losses as well. The stock is artificially overvalued and as short positions are closed at a loss the price will come down and hurt retail investors that hold onto their positions for too long. Sent from my iPhone using Tapatalk 13 Link to comment Share on other sites More sharing options...
bassistheplace Posted January 28, 2021 Share Posted January 28, 2021 rigged Link to comment Share on other sites More sharing options...
Bijan Posted January 28, 2021 Share Posted January 28, 2021 Not sure if true, but one trading platform operator claims it is due to costs of 2-day stock settlement on such volatile stocks: https://finance.yahoo.com/video/heres-why-robinhood-restricting-users-173049721.html Link to comment Share on other sites More sharing options...
Thatsze Posted January 28, 2021 Author Share Posted January 28, 2021 19 minutes ago, Bijan said: Not sure if true, but one trading platform operator claims it is due to costs of 2-day stock settlement on such volatile stocks: https://finance.yahoo.com/video/heres-why-robinhood-restricting-users-173049721.html Absolutely, it's incredibly expensive to cover the options trades on these stocks. With that said the company which handles robinhood's transactions also just bailed out one of the hedge funds with a short position in gamestop. They have a vested interest in the stock tanking. Besides, as a market maker they have a duty to maintain the market, they aren't allowed to do this kind of thing. Especially not before monthly options expire. They cant take action to protect their bottom line, atleast not like this... 3 Link to comment Share on other sites More sharing options...
MooseAMuffin Posted January 28, 2021 Share Posted January 28, 2021 Guess the big players know what we small folk have to live with on a daily basis. 2 Link to comment Share on other sites More sharing options...
Popular Post FireDigger Posted January 28, 2021 Popular Post Share Posted January 28, 2021 I'm fine with these brokers suspending the trading of certain stocks due to volatility. This has already happened to GME multiple times in the last few weeks. We've also seen this happen to the exchanges back in March when the markets were dropping by big percentage points. What I do have a problem with is how Robinhood only restricted buying these stocks, but you could still sell them. If that isn't blatant manipulation, I don't know what is. I hope people flock away in droves and leave them broke. 6 Link to comment Share on other sites More sharing options...
Fosgate Posted January 28, 2021 Share Posted January 28, 2021 My personal opinion is big organizations such as oh Berkshire Hathoway amongst several others have the capability to do the exact same thing and there are these massive players out there that can and do manipulate stock and bonds of a company through various methods, but they do so in a not so public mannor. Now if these current investors conduct themselves in a manner that break any current NASD or SEC rules then I would say shut them down and throw the rulebook at them. What I suspect through is the big boys are looking at this group of investers as not being bound by the brokerage rules with an in house SEC compliance chained to their leg and see the potential of them being a wrecking ball. As someone said earlier that there is always someone left holding the bag when the music stops. If there are not rules that these guys are breaking now, you can sure bet there will be some written to prohibit these activities in the future. Link to comment Share on other sites More sharing options...
Popular Post benfica_77 Posted January 28, 2021 Popular Post Share Posted January 28, 2021 The big guys manipulate markets all the time. Here's an example...one of Coke's biggest expenses is aluminum for the pop can. So Coke starts buying up aluminum and stockpiling it over a large period of time. Than they flood the market with cheap aluminum bringing the market price down considerably and than they buy way more aluminum and a considerably cheaper price. Straight up market manipulation and surprise surprise nothing happened to them. This happens constantly, just this time the big player got caught with his pants down and they are crying wolf. Boohoo hedge funds boohoo 5 Link to comment Share on other sites More sharing options...
Popular Post ElJavi76 Posted January 28, 2021 Popular Post Share Posted January 28, 2021 Looks like Blackrock has made close to 3 Billion in this GME fiasco. Even when they lose... they win. Wall Street just salty that they got beat at their own game. 6 Link to comment Share on other sites More sharing options...
Popular Post Cigar Surgeon Posted January 28, 2021 Popular Post Share Posted January 28, 2021 I sincerely hope the loss to the Hedge Funds is in the multi-billions of dollars tomorrow when all their short calls come due. 10 Link to comment Share on other sites More sharing options...
BrightonCorgi Posted January 28, 2021 Share Posted January 28, 2021 It's rigged for the hedge funds and everyone else can pound sand. It show what a hypocrisy trading platforms and the markets are. I would dump Robinhood's account real quick if I was using it. 4 Link to comment Share on other sites More sharing options...
Thatsze Posted January 28, 2021 Author Share Posted January 28, 2021 (edited) 35 minutes ago, BrightonCorgi said: It's rigged for the hedge funds and everyone else can pound sand. It show what a hypocrisy trading platforms and the markets are. I would dump Robinhood's account real quick if I was using it. I sure will once I'm out of this position, not sure which broker to switch to for now. I guess fidelity Edited January 28, 2021 by Thatsze Link to comment Share on other sites More sharing options...
MooseAMuffin Posted January 28, 2021 Share Posted January 28, 2021 3 hours ago, BrightonCorgi said: It's rigged for the hedge funds and everyone else can pound sand. It show what a hypocrisy trading platforms and the markets are. I would dump Robinhood's account real quick if I was using it. Exactly. They are the epitome of "Rules for thee, not for me." Wondering if there will be anymore that follow. https://thehill.com/policy/healthcare/536320-class-action-lawsuit-filed-against-robinhood-for-restricting-trading 1 Link to comment Share on other sites More sharing options...
Popular Post Fosgate Posted January 28, 2021 Popular Post Share Posted January 28, 2021 Young Republicans in NYC is organized a reoccupy wallstreet, lawsuits incoming. Better get a big bag of popcorn. 1 4 Link to comment Share on other sites More sharing options...
cigarzfan Posted January 28, 2021 Share Posted January 28, 2021 A. Funds aren’t settled instantaneously. There will be lots of liquidations of accounts when options expire. These brokers just don’t want to be left holding the bag. If one doesn’t like it, one should use a real brokerage instead of Robinhood. B. This wouldn’t happen with crypto. C. Blockchain is the future in these regards. Consumers will be able to make direct exchanges via smart contract blockchain like Uniswap. Will take out the middleman and be extremely secure. 3 Link to comment Share on other sites More sharing options...
Thatsze Posted January 28, 2021 Author Share Posted January 28, 2021 2 hours ago, Cigar Surgeon said: I sincerely hope the loss to the Hedge Funds is in the multi-billions of dollars tomorrow when all their short calls come due. On top of the multiple billions they've already lost right? ? 1 Link to comment Share on other sites More sharing options...
Fosgate Posted January 28, 2021 Share Posted January 28, 2021 Ohhh! Robinhood is done!! There should be jail time comine. 1 1 Link to comment Share on other sites More sharing options...
Popular Post Burningman Posted January 28, 2021 Popular Post Share Posted January 28, 2021 This has me fuming. Multiple brokers are stopping people from buying shares. I use two different brokers. One of them is not allowing purchases of certain stocks. I will no longer be doing business with them. The people getting squeezed and the firms participating are full of adults who know the risks. If they lose money then they are learning a lesson they presumably should have learned early in the game. Everyone should be held accountable for their actions especially the big boys. 8 Link to comment Share on other sites More sharing options...
PuroDan Posted January 29, 2021 Share Posted January 29, 2021 4 hours ago, benfica_77 said: The big guys manipulate markets all the time. Here's an example...one of Coke's biggest expenses is aluminum for the pop can. So Coke starts buying up aluminum and stockpiling it over a large period of time. Than they flood the market with cheap aluminum bringing the market price down considerably and than they buy way more aluminum and a considerably cheaper price. Straight up market manipulation and surprise surprise nothing happened to them. This happens constantly, just this time the big player got caught with his pants down and they are crying wolf. Boohoo hedge funds boohoo This is so true... Well said Link to comment Share on other sites More sharing options...
Kaptain Karl Posted January 29, 2021 Share Posted January 29, 2021 As a partial Libertarian I am freaking loving this!! Decentralize the power and money baby!!!! 4 Link to comment Share on other sites More sharing options...
Islandboy Posted January 29, 2021 Share Posted January 29, 2021 I have a dumb question: as a lowly Island boy, unaccustomed to the finer details of this thing you call the stock market? (especially when this s**t happens), is this gonna be really bad for my 401k? Or should I say, for the average citizen’s 401k? Thanks for putting up with me, by the way. Link to comment Share on other sites More sharing options...
BrightonCorgi Posted January 29, 2021 Share Posted January 29, 2021 No one will be punished. Link to comment Share on other sites More sharing options...
Fosgate Posted January 29, 2021 Share Posted January 29, 2021 30 minutes ago, BrightonCorgi said: No one will be punished. Your right. Bonuses more likely. Link to comment Share on other sites More sharing options...
Bijan Posted January 29, 2021 Share Posted January 29, 2021 1 hour ago, Islandboy said: I have a dumb question: as a lowly Island boy, unaccustomed to the finer details of this thing you call the stock market? (especially when this s**t happens), is this gonna be really bad for my 401k? Or should I say, for the average citizen’s 401k? Thanks for putting up with me, by the way. Shouldn't affect people who are not invested in these stocks and not shorting these stocks. 1 Link to comment Share on other sites More sharing options...
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