# An “Angry Mob” On Reddit Is Pushing Up GameStop's Stock Price And Pissing Off A Bunch Of Wall Street Firms



## Dragon D. Luffy (Jan 27, 2021)

> Investors on Reddit have launched an attack that’s both trolling and serious on Wall Street firms by purchasing shares in GameStop, pushing the stock price up over 480% in a week, costing hedge funds millions of dollars, and skyrocketing young investors’ portfolios and egos.
> 
> Popular subreddit r/WallStreetBets (WSB), whose tagline is “Like 4chan found a Bloomberg Terminal,” has over 2 million members reading and posting “stonks” tips and news. Its biggest obsession in recent weeks has been raising the stock price of GameStop, the old-school video game mall retailer.
> 
> ...

Reactions: Like 3 | Funny 4 | Winner 2 | Informative 1


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## Dragon D. Luffy (Jan 27, 2021)

Update (aka the actual news I wanted to post):



A bunch of random people on Reddit have succesfully destroyed a billionaire hedge fund.

And the best part is that they could do this again.

Reactions: Like 2 | Funny 9 | Friendly 2


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## Pliskin (Jan 27, 2021)

Further evidence that markets are efficient and prices as well as resource allocation work flawlessly under the invisible hand.

Any opinion to the contrary will inevitably lead to VENEZUALLAAAA(!!!!) and should be dismissed in a snarky yt reaction video out of hand.

Reactions: Funny 9


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## Dragon D. Luffy (Jan 27, 2021)

Good explanation for those of you who don't know what "hedge funds" or "short sells" are:

Reactions: Funny 3 | Informative 5


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## Gunners (Jan 27, 2021)

People getting pissed off that other participants are joining the game.

Think I'll kick back with a beer and watch this unfold.

Reactions: Like 2 | Funny 2


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## GRIMMM (Jan 27, 2021)

This is so funny.

Reactions: Like 1 | Agree 5 | Funny 1


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## Garcher (Jan 27, 2021)

The stock market has become a total meme

Reactions: Agree 5


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## MrPopo (Jan 27, 2021)

Apes strong together

Reactions: Like 3 | Agree 2 | Funny 5


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## Kroczilla (Jan 27, 2021)

GRIMMM said:


> This is so funny.


Yeah, till you think of the 100s if not 1000s of folks that have just been fucked as a result.

That said, seem like the hedge fund might have put all or two many of their eggs in one basket. Seems very stupid especially for a billion dollar organisation.


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## Subarashii (Jan 27, 2021)

Damn, I wish I had been in the know and bought this.


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## GRIMMM (Jan 27, 2021)

Kroczilla said:


> Yeah, till you think of the 100s if not 1000s of folks that have just been fucked as a result.


Don't play the game if you don't expect you may lose sometimes.

Reactions: Like 3


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## Kroczilla (Jan 27, 2021)

GRIMMM said:


> Don't play the game if you don't expect you may lose sometimes.


I get that but these hedge funds tend to have a shit ton of their funds coming from unions, affinity groups and such. Those folks are probably gonna be hurt real bad by this.

Reactions: Dislike 1


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## GRIMMM (Jan 27, 2021)

Kroczilla said:


> I get that but these hedge funds tend to have a shit ton of their funds coming from unions, affinity groups and such. Those folks are probably gonna be hurt real bad by this.


A shame for (some of) the people who have their funds tied up in this, but I would imagine this is a form of karma (if I believed in that) for short selling and betting on people's misfortune.

Reactions: Like 2


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## dergeist (Jan 27, 2021)

Butthurt fueled by hedgefunds and the rich that invest with them getting shafted. In a market people buy and sell, if the individuals are bidding it up then that's due to demand. The tears of the butt hurt are delicious 


GRIMMM said:


> Don't play the game if you don't expect you may lose sometimes.



A free market, is a free market. It's okay for hedgefunds to short stocks and promote them, but individual investors doing the opposite is wrong. Gotta love the hypocrisy



Dragon D. Luffy said:


> Update (aka the actual news I wanted to post):
> 
> 
> 
> ...



Dumb fucks probably doubled down, I know many did. I was asked once why I don't short stocks and my answer was simple, they can go up infinitely, but only down to zero (upper limit to what I can lose if I'm long).

Reactions: Like 2


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## makeoutparadise (Jan 27, 2021)

2008 Financial crisis: “You lost your home and savings? That sucks but thats the invisible hand of the market and how stocks work.”

2021 Game stop:”These cut throat pirates are playing unfairly Im losing everything because I hoped this business would fail.”

Reactions: Like 4 | Agree 3 | Funny 2


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## dergeist (Jan 27, 2021)

makeoutparadise said:


> 2008 Financial crisis: “You lost your home and savings? That sucks but thats the invisible hand of the market and how stocks work.”
> 
> 2021 Game stop:”These cut throat pirates are playing unfairly Im losing everything because I hoped this business would fail.”



Don't you mean,
2021 Game stop: "I don't want the invisible hand of the market doing it's thing. I wanted to fuck a business over, not get fucked by it"

OT: when the hedge funds short a stock, they're also betting against somebody who is long, so they are also profiting off of the loss of others, if it's gone in reverse than it is an equally valid trade. Also, it's usually many little guys that get shafted by it. I believe market makers refer to it as bringing equilibrium. The hypocrisy is insane now that the shoe is on the other foot

Reactions: Like 1


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## Delta Shell (Jan 27, 2021)

makeoutparadise said:


> 2008 Financial crisis: “You lost your home and savings? That sucks but thats the invisible hand of the market and how stocks work.”
> 
> 2021 Game stop:”These cut throat pirates are playing unfairly Im losing everything because I hoped this business would fail.”


 The levels of hypocrisy. You love to see it.

Reactions: Like 1


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## Dragon D. Luffy (Jan 27, 2021)

Kroczilla said:


> Yeah, till you think of the 100s if not 1000s of folks that have just been fucked as a result.
> 
> That said, seem like the hedge fund might have put all or two many of their eggs in one basket. Seems very stupid especially for a billion dollar organisation.



People get screwed in the stock market all the time, by the thousands, every day.

It's usually the common people who are screwed by billionaires, though.

So it's awesome when the opposite happens.



Kroczilla said:


> I get that but these hedge funds tend to have a shit ton of their funds coming from unions, affinity groups and such. Those folks are probably gonna be hurt real bad by this.



I feel for them, but maybe they shouldn't bet their savings on high risk investments?

This doesn't happen if you buy bonds or stock like a normal person.

That said I don't think there is anything immoral with short selling, like some people in the thread are saying. Feel free to do it if you think you can stomach the risk. But I do think the existance of billionaires is immoral, so yeah, fuck them.

Reactions: Like 1 | Agree 1 | Funny 1


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## dergeist (Jan 27, 2021)

Game Stop just hit $301,  double yesterday's number

Reactions: Like 1


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## Subarashii (Jan 27, 2021)

Looks like I'm joining r/WSB

Reactions: Funny 1


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## Subarashii (Jan 27, 2021)

dergeist said:


> Game Stop just hit $301,  double yesterday's number


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## dergeist (Jan 27, 2021)

Subarashii said:


>



It hit $318, and is now down to $300



Subarashii said:


> Looks like I'm joining r/WSB



Preach


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## Utopia Realm (Jan 27, 2021)

This is comedy gold at its finest. Too bad I was late to this show. Would have been funny as fuck to read the threads about this from beginning onwards,

Reactions: Like 2


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## stream (Jan 27, 2021)

The Market Can Remain Irrational Longer Than You Can Remain Solvent​

Reactions: Winner 1


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## Cardboard Tube Knight (Jan 27, 2021)

Let's not treat Wall Street Bets like heroes, they're basically a pack of assholes who do this sort of thing from time to time. They're going to probably get themselves banned from Reddit.


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## JJ Baloney (Jan 27, 2021)

Huh, looks like they're trying to do the same with AMC now?


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## Parallax (Jan 27, 2021)

This is so hilarious


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## Parallax (Jan 27, 2021)

Garcher said:


> The stock market has become a total meme


Has?!?!?!?

Reactions: Funny 1


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## Dragon D. Luffy (Jan 27, 2021)

Wrecked Baloney said:


> Huh, looks like they're trying to do the same with AMC now?



Link plz


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## MrPopo (Jan 27, 2021)

dergeist said:


> Dumb fucks probably doubled down, I know many did. I was asked once why I don't short stocks and my answer was simple, they can go up infinitely, but only down to zero (upper limit to what I can lose if I'm long).


Ye they did, Didn't help they will shortlisting the stock at 140% so WSB caught them with their pants down

Reactions: Like 2


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## Dragon D. Luffy (Jan 27, 2021)

Cardboard Tube Knight said:


> Let's not treat Wall Street Bets like heroes, they're basically a pack of assholes who do this sort of thing from time to time. They're going to probably get themselves banned from Reddit.



I mean, you can get a good sense of who they are by the fact Elon Musk is supporting them.

Reactions: Like 1 | Funny 1


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## Cardboard Tube Knight (Jan 27, 2021)

MrPopo said:


> Ye they did, Didn't help they will shortlisting the stock at 140% so WSB caught them with their pants down


It looks like someone on there might have known they were doing it because they got tipped off, it's not super clear because WSB went dark a few days ago when all of this first started. 

Before the media got wind of this the subreddit "Subreddit Drama" saw them go private and posted about it and people who could still see inside saw what was up (there was a little argument going down about GME) and there was some drama with a mod and twitter account they were pushing. 

The reason I predict that they will get put off of reddit eventually is that someone is going to lose enough money that they kill themselves and that's going to be it. Reddit doesn't like that media heat. That's how Fat People Hate ended up ousted and I think threats of violence are how a Chapo sub got banned. Once you do one of two things you're out of Reddit: 1. talk about hurting someone or getting them hurt or 2. child porn.


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## JJ Baloney (Jan 27, 2021)

Dragon D. Luffy said:


> Link plz


Oooh, it looks like r/wallatreetbets thinks it's a trap and it warning against buying it.


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## Cardboard Tube Knight (Jan 27, 2021)

Yes, please let AMC die a quick death. The time of having to go to a gross movie theater and paying 10$ for Popcorn is dead.

Reactions: Funny 1 | Disagree 3


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## Dragon D. Luffy (Jan 27, 2021)

Wow.

Reactions: Agree 1 | Funny 1


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## dergeist (Jan 27, 2021)

MrPopo said:


> Ye they did, Didn't help they will shortlisting the stock at 140% so WSB caught them with their pants down



Its just shot up to $345, and my broker isn't allowing buy orders. There go a few more hedge funds


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## MrPopo (Jan 27, 2021)

Cardboard Tube Knight said:


> It looks like someone on there might have known they were doing it because they got tipped off, it's not super clear because WSB went dark a few days ago when all of this first started.
> 
> Before the media got wind of this the subreddit "Subreddit Drama" saw them go private and posted about it and people who could still see inside saw what was up (there was a little argument going down about GME) and there was some drama with a mod and twitter account they were pushing.
> 
> The reason I predict that they will get put off of reddit eventually is that someone is going to lose enough money that they kill themselves and that's going to be it. Reddit doesn't like that media heat. That's how Fat People Hate ended up ousted and I think threats of violence are how a Chapo sub got banned. Once you do one of two things you're out of Reddit: 1. talk about hurting someone or getting them hurt or 2. child porn.


Eh, rn its a rage against the machine and its working


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## Delta Shell (Jan 27, 2021)

GMe at 370

AMC and BB seem to be getting pushed now.


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## Huey Freeman (Jan 27, 2021)

Damn y’all really mad about them appraising your second hand games for 1/10 the current value.

Reactions: Funny 4


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## Dragon D. Luffy (Jan 27, 2021)



Reactions: Funny 5 | Informative 1


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## Cardboard Tube Knight (Jan 27, 2021)

Huey Freeman said:


> Damn y’all really mad about them appraising your second hand games for 1/10 the current value.


Man, they do really buy Switch games for a little something. You average decent Switch game will buy for like 20$


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## Hand Banana (Jan 27, 2021)

LOL they still have stock option?

Reactions: Agree 2 | Funny 5


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## MrPopo (Jan 27, 2021)

Crazy how WSB grew from this they went from about 2mil subscribers to 3mil now


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## dergeist (Jan 27, 2021)

MrPopo said:


> Crazy how WSB grew from this they went from about 2mil subscribers to 3mil now



Joined a little while ago.

And here the brokers are at it, protecting the "clients (hedgefunds)"

Reactions: Funny 1


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## MrPopo (Jan 27, 2021)



Reactions: Funny 4


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## MrPopo (Jan 27, 2021)

dergeist said:


> Joined a little while ago.
> 
> And here the brokers are at it, protecting the "clients (hedgefunds)"


The game is rigged for them and as soon as they start losing they call foul

Reactions: Agree 4


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## Mider T (Jan 27, 2021)

Wrecked Baloney said:


> Huh, looks like they're trying to do the same with AMC now?


AMC was already saved from bankruptcy

Reactions: Informative 1


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## dergeist (Jan 27, 2021)

Hedge fund Melvin closes bet against GameStop after Reddit trader onslaught​

Melvin Capital has exited its bet against GameStop, having lost billions of dollars after a battle with amateur traders who pushed up the share price of the game retailer and other companies it had bet against. 

The hedge fund’s exit from the heavily traded stock, after it sustained significant losses, marks a triumph for retail traders co-ordinating on Reddit message boards. 

The New York firm, founded by Gabe Plotkin, a protégé of Point72 founder Steve Cohen, was forced earlier this week to seek a  from its larger rivals Citadel and Point72, after it had lost about $3.75bn, or 30 per cent, in the first three weeks of the year, according to two people familiar with the matter.

“Melvin Capital has repositioned our portfolio over the past few days,” said the firm. “We have closed out our position in [GameStop].”

Shares of GameStop have rallied 685 per cent this year to $147.98, as of Tuesday’s closing level, with stock and options trading volumes skyrocketing over the past week as . The stock was quoted as high as $365.42 in pre-market trading on Wednesday.

The gains have pushed the valuation of the company above $10bn, eclipsing a record hit on the precipice of the financial crisis.


Users on the popular Reddit message board r/wallstreetbets have bought shares of the retailer as well as large numbers of call options, which pay out if GameStop shares rise. The r/wallstreetbets page in recent days has been filled with screenshots of investment accounts posting multimillion dollar gains, with users egging each other on to continue buying up the stock.

Traders on Reddit also targeted a small outfit known as Citron Research, run by short seller Andrew Left. Mr Left last week had said he was initiating a short-bet on GameStop, but he was quickly forced to backtrack as the stock soared. On Wednesday he said that he had closed out his short position on the company, buying shares of GameStop “in the 90s” and taking a complete loss on the trade.

Melvin is one of the sector’s most respected firms, managing about $12.5bn in assets. Last year it gained 52 per cent, ranking it among the best-performing long-short funds.

The firm has taken on punchy bets that companies’ share prices will fall, and holds two out of the five biggest individual short positions in Europe, as measured by percentage of a company’s share capital, according to data group Breakout Point.

Some of Melvin’s short positions were placed through put options — which offer the right to sell at a certain price — and are disclosed in quarterly regulatory filings with the Securities and Exchange Commission, allowing retail traders to see how the firm is positioned.


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## Son of Goku (Jan 27, 2021)




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## Zeit (Jan 27, 2021)

This has been genuinely amazing and hilarious to watch unfold.


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## Donquixote Doflamingo (Jan 27, 2021)

I was gonna invest 2000 into gamestop last year. R.I.P me

Reactions: Funny 2 | Friendly 1


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## dergeist (Jan 27, 2021)

Nasdaq CEO Friedman says the exchange will halt trading in a stock if they link unusual activity to social media chatter​


*Nasdaq CEO Adena Friedman told CNBC the exchange tracks social media chatter. *
*She said the Nasdaq will halt trading if they link chatter to unusual activity in a particular stock.*
*Friedman said it's unclear whether recent Reddit activity would be considered illegal by the SEC.*

Nasdaq CEO Adena Friedman  that the exchange monitors social media chatter, and will halt trading if they match the chatter with unusual activity in a stock. 

Her comments come as a  has sparked earth-shattering price rises in stocks like , , and , with no fundamental moves behind the stock movements. 

Those stocks are listed on the New York Stock Exchange, not the Nasdaq, though Friedman's CNBC appearance brings into question what a market exchange's role is in regulating extreme stock activity. 

Friedman said the Nasdaq's role as a "self-regulatory organization" is to make sure activity in the market is "legitimate" and to root out manipulation in the market. She did not detail what kind of technology the Nasdaq uses to "evaluate social media chatter," but she said if the Nasdaq can match unusual trading with social media activity, the exchange will halt the stock and potentially engage with the SEC to evaluate and investigate. 

One illegal market manipulation activity that the SEC goes after is a "pump-and-dump" scheme. 

An investor buys a stock, and then publicly "pumps" it, by spreading a rumor or another catalyst for the stock go up. Other people see the rumors and buy the stock, causing the price to rise. The person who originated the rumor sells the stock to them at a higher price in a "dump," and takes the profits. 

Friedman said the Nasdaq collaborates with the FINRA and SEC to identify and investigate pump and dump schemes, but she said it's unclear whether the current Reddit activity qualifies as a pump and dump scheme.

"Regulators kind of have to catch up with the technology that's now available," Friedman said. 




Hedgefund stooge needs to go, what did they do when Bill Ackman manipulated the markets blatantly. Imagine thinking, people buying shares is market manipulation, but short selling isn't.

Reactions: Like 1


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## Wolfgang Grimmer (Jan 27, 2021)

greed never pays


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## dergeist (Jan 27, 2021)

Wolfgang Grimmer said:


> greed never pays



I heard the Whitehouse (Joe is a stooge of the hedge funds and the monies class) are monitoring the situation with Gamespot so is treasury secretary Yellen (from wall street). They might put a stop to it.


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## Cardboard Tube Knight (Jan 27, 2021)

Someone in here likes shit movie theaters enough that they're upset at my fuck AMC comments.

Reactions: Funny 2


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## dergeist (Jan 27, 2021)

NASDAQ temporarily shuts down stock trading after internet trolls destroy hedge fund with GameStop stock​

The NASDAQ has paused trading after internet “degenerates” spotted Wall Street gearing up to make a killing, beat the traders at their own game, and got filthy rich while destroying the US’ top hedge funds. Buckle up.

_“We are actively monitoring social media chatter and will halt stock if we match chatter with unusual activity in stocks,”_ NASDAQ CEO Adena Friedman announced on Wednesday morning. Speaking to CNBC, Friedman demanded regulators intervene to stop the _“manipulation”_ that’s seen amateur investors completely leave one of America’s top hedge funds, Melvin Capital, teetering on the edge of bankruptcy.

As trading opened, Friedman kept her word and the buying and selling of GameStop stock was  intermittently throughout the morning, in a bid to stave off the _“manipulation”_ she warned about. But what was it about one failing video games retail company that sparked such panic on Wall Street?

A fixture in American shopping malls, GameStop once held launch-night parties for the biggest annual releases, but has seen its business fall off a cliff in recent years due to digital purchasing and the decline of malls nationwide. Enter the short-sellers. Put simply, hedge funds looking to capitalize on a failing business can borrow shares in a company, immediately sell them, and ideally, buy them back later at a lower price to pay back the original lender while pocketing the difference. Should the price rise instead of fall, however, these funds have to pay back the shares at the new, higher price.

Profiting off a failing business may seem either a canny move or the epitome of vulture capitalism, but it’s a common practice. Wall Street’s top investing firms even help each other identify stocks ripe for the picking, as Citron Research did when it deemed GameStop a _“failing mall-based retailer”_ in _“terminal decline.”_ Citron Research and Melvin Capital both bought tens of millions of dollars worth of short positions in GameStop, but soon learned the hard way that in short selling, there’s no end to the amount of money one can lose.

The big squeeze​The two million members of Reddit’s ‘WallStreetBets’ community took an interest in GameStop back in August when they noticed the arrival of pet supply e-tailer Chewy’s co-founder Ryan Cohen to its board, signaling there was some life in the company yet. When they noticed that Melvin Capital and Citron had bought the stock short, they decided to start buying, pumping up its value, partly to make a buck and partly to punish the hedge funds for profiting off the death spiral of a store ingrained in their childhood memories.

Throughout January, GameStop’s value shot up from $18 per share to $334 on Wednesday. As hedge fund managers whined and raged on television and Twitter, the WallStreetBets community dug their heels in and continued to buy.

Both funds took a beating, with rumors of Melvin Capital’s bankruptcy circulating on Tuesday. Melvin manager Gabe Plotkin  that these rumors were false, but the fund still needed a bailout of nearly $3 billion to cover its losses, before it closed its position that afternoon.

Citron’s Andrew Left said on Wednesday that he had managed to close his position at _“a loss of 100 percent.”_


With short sellers  as of Tuesday, the self-described _“degenerates”_ of WallStreetBets posted screenshots of their ballooning bank balances, reveling in their newfound wealth as Wall Street suffered. One poster reportedly turned $55,000 into $13 million, while another posted a screenshot of his $64,000 gain, _“I can now write my mom a check and put my sister through lymes treatment. This has been a very rough year, but I’m so thankful for every single one of you.”

“Life changing money is turning into destiny changing money,”_ another  on Tuesday night.

An awakening​The titans of Wall Street seethed. Investor Michael Burry, who made a fortune on the 2008 subprime mortgage crisis, said in a now-deleted tweet on Tuesday that trading in GameStop is _“unnatural, insane, and dangerous”_ and there should be _“legal and regulatory repercussions.” _

Despite Burry’s call for punishment and Friedman’s fretting over _“manipulation,”_ the amateur investors of WallStreetBets aren’t actually breaking the law. Their forum posts are considered free speech under the First Amendment, rather than illegal attempts to dupe investors.

_“There’s been an awakening,”_ financial adviser Tim Collins  last week. _“A large group of retail traders have realized if they work together...they can overpower any institution or short seller in the world, outside of the Fed, of course.”_ One Reddit poster  more bluntly:



> _*What I think is happening is that you guys are making such an impact that these fat cats are worried that they have to get up and put in work to earn a living.*_



Amid the celeration, some WallStreetBets users predicted an impending regulatory crackdown, especially given the astronomical donations Wall Street gave to Joe Biden and the Democratic Party in the runup to last year’s election.

_“The speed in which Congress will probably pass legislation to prevent something like this GameStop thing from happening again will show you the difference between ‘immediate’ for Wall St and ‘immediate’ for people waiting on those $2k checks,”_ NFL running back and outspoken leftist Justin Jackson tweeted on Wednesday.




Looks like the rich and their underlings don't really like free markets when they do their thing.

Reactions: Sad! 1


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## Donquixote Doflamingo (Jan 27, 2021)

Cardboard Tube Knight said:


> Someone in here likes shit movie theaters enough that they're upset at my fuck AMC comments.


Yes I enjoy shit movies.

And my shitty popcorn 

I want to watch Monke vs Lizard on the big screen dammit

Reactions: Like 1 | Agree 3 | Winner 1 | Sad! 1


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## Parallax (Jan 27, 2021)

fucking wall street pussies

they're such worms

Reactions: Funny 1


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## Kingslayer (Jan 27, 2021)

Looks like White house will bring laws to regulate .


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## Cardboard Tube Knight (Jan 27, 2021)

Donquixote Doflamingo said:


> Yes I enjoy shit movies.
> 
> And my shitty popcorn
> 
> I want to watch Monke vs Lizard on the big screen dammit


Then go to a real theater with some class to it.

Reactions: Funny 2


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## Cardboard Tube Knight (Jan 27, 2021)




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## Dragon D. Luffy (Jan 27, 2021)

Dark Shadow said:


> Looks like White house will bring laws to regulate .



Gotta protect billionaires from a few kids on Reddit. What if this causes actual income transfer from the rich to the poor? That would be the end of America!

Reactions: Like 1 | Funny 2 | Friendly 1


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## stream (Jan 27, 2021)

And now all I can think of is "froggy shark doo doo doo doo doo doo..."


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## Sloan (Jan 27, 2021)

Dragon D. Luffy said:


> Gotta protect billionaires from a few kids on Reddit. What if this causes actual income transfer from the rich to the poor? That would be the end of America!


The land of the Free


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## Cardboard Tube Knight (Jan 27, 2021)

Dragon D. Luffy said:


> Gotta protect billionaires from a few kids on Reddit. What if this causes actual income transfer from the rich to the poor? That would be the end of America!


And like people's pensions, retirement, and stocks. 

Not everyone who has stock in things is rich. Like everyone here is yucking it up, but if one of them lost a chunk of their retirement over some stupid bullshit like this I bet they'd change their tune.

Reactions: Disagree 1


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## Hand Banana (Jan 27, 2021)

I now as an adult finally understand what the phrase "idle hands" mean. This coronavirus is fucking the world as we know it. 2021 gonna be a good year too.


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## Vandal Savage (Jan 27, 2021)

This is the most entertaining thing happening this week and I see AMC is also getting the meme stock treatment now. Fuck those hedge funds and their puppets crying on national television about this when they have profited off of market manipulation for decades.

Reactions: Agree 4


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## Pilaf (Jan 27, 2021)

Hand Banana said:


> I now as an adult finally understand what the phrase "idle hands" mean. This coronavirus is fucking the world as we know it. 2021 gonna be a good year too.



These glorious autists have been at it for years. Way before the pandemic. They've been planning this shit since at least 2012. 

Allegedly.


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## Dragon D. Luffy (Jan 27, 2021)

Cardboard Tube Knight said:


> And like people's pensions, retirement, and stocks.
> 
> Not everyone who has stock in things is rich. Like everyone here is yucking it up, but if one of them lost a chunk of their retirement over some stupid bullshit like this I bet they'd change their tune.



I own stock and that is the exact reason I don't care.

Stock is risky. And stock has multiple ways to engage with, with varying levels of riskiness. And short selling is one of the riskiest, just like hedge funds are known for being the funds that make the riskiest plays. Even if you want to invest in stocks, you could buy shares from Coca Cola or a bank and just ride their constant profits forever. But you went for the casino option.

If you gambled your retirement on something like that, you have nobody but yourself to blame. You knew the risks and you are responsible for the consequences. And there is more: the people who did this are going to use the money to pay their loans, get medical treatments and fund their own retirement. Money does not disappear: it goes from one hand to another. That is the nature of the stock market. And in this story, money was taken from more rich people in general, so on average it was good news.

Now, you think everyone should be able to retire? Go fight to make the state provide that. But if you want to live in a country where people have to short sell stocks to retire well, you will have to accept a lot of those people won't retire. That is the nature of unregulated capitalism: the poverty is a mandatory consequence of it. You don't get to have your cake and eat it.

Reactions: Like 7 | Agree 2 | Winner 4


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## Son of Goku (Jan 27, 2021)



Reactions: Funny 1


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## Breadman (Jan 27, 2021)

Oh spare me the fucking crocodile tears on this shit, these idiots and big wallets are just mad that they got outplayed by a bunch of redditors. These cows spend all day trying to put competitions out of business and make a profit over every little detail, and now that things aren't going their way they cry about how they're losing their money... these guys need to STFU.

Reactions: Agree 5 | Winner 3


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## Hand Banana (Jan 27, 2021)

Should be illegal what some of these hedge funds are doing in the first place. More power to the people.

Reactions: Like 2 | Agree 3


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## Sloan (Jan 27, 2021)

Breadman said:


> Oh spare me the fucking crocodile tears on this shit, these idiots and big wallets are just mad that they got outplayed by a bunch of redditors. These cows spend all day trying to put competitions out of business and make a profit over every little detail, and now that things aren't going their way they cry about how they're losing their money... these guys need to STFU.


Sent all of them an E-mail just now with this.

Reactions: Funny 3


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## Breadman (Jan 27, 2021)

Sloan said:


> Sent all of them an E-mail just now with this.



It's what they deserve honestly.

I don't know jack squat about the stock market, but even my ape unga-bunga brain knows that it's a risky business that can cause you to lose thousands, if not millions of dollars. It's always been like that. And corporations and big wig investors have always acted with intent to destroy and profit. They're just mad that others are now playing that game too.

Reactions: Like 5


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## dergeist (Jan 27, 2021)

Dragon D. Luffy said:


> Gotta protect billionaires from a few kids on Reddit. What if this causes actual income transfer from the rich to the poor? That would be the end of America!



The free market doing it's thing  

We can't have that, now can we, better get Biden to trample on the average American trader/investor. Wealth transfer via markets would equal less political donations and the dems benefit generously from Wall Street. And the cool thing is, it would have thickened downa dn be spent back into the economy. 

Far better than the governments and fed (QE which mainly affects the asset prices, not entering the real economy) version of trickle down

Reactions: Like 1 | Dislike 1


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## GRIMMM (Jan 27, 2021)

Funny to watch the neolibs shed tears for the billionaires online today. Fucking bootlicking cunts.

Reactions: Like 2 | Agree 1 | Funny 4


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## Reznor (Jan 27, 2021)

Cardboard Tube Knight said:


> The reason I predict that they will get put off of reddit eventually is that someone is going to lose enough money that they kill themselves and that's going to be it.


Because it matters more if a billionaire kills themselves  

If we're going to look at this incident as something which is going to cost lives, then we have to look at the way that the stock market normally functions as something that can cost lives. In that scenario, hedgefunders that manipulate the stock market all the time are serial killers.

Either it's just a game and they can handle losing, or they are functionally murders receiving what is functionally justice.


Dragon D. Luffy said:


> Gotta protect billionaires from a few kids on Reddit. What if this causes actual income transfer from the rich to the poor? That would be the end of America!


Really, what can they say about this?

If these people lost at their own game, they lose.
If you want to call this money sordid gain, then you have to deal with the fact that hedgefund managers are leechs in the first place. 

If Biden or anyone intervenes, then there's no explanation besides our government being commited to maintaining the current power structures, not serving its people like we'd hope nor even to keep the rules fair like conservatives or libertarians would claim. It's a solid oligarchy. Bailing out billionaires after dragging our feet on bailing our citizes is like a moral event horizon to me.

Reactions: Agree 1


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## GRIMMM (Jan 27, 2021)



Reactions: Funny 15


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## Cardboard Tube Knight (Jan 27, 2021)

Reznor said:


> Because it matters more if a billionaire kills themselves
> 
> If we're going to look at this incident as something which is going to cost lives, then we have to look at the way that the stock market normally functions as something that can cost lives. In that scenario, hedgefunders that manipulate the stock market all the time are serial killers.
> 
> Either it's just a game and they can handle losing, or they are functionally murders receiving what is functionally justice.


I'm not talking about the rich, I'm talking about the people on the site themselves. 

And Reddit isn't into caring about the super wealthy, they're into caring about how the news covers them. After the Donald, the Fappenening, and Fat People Hate, the last thing the site wants is more bad press on their hands.


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## dergeist (Jan 27, 2021)

Reznor said:


> If Biden or anyone intervenes, then there's no explanation besides our government being commited to maintaining the current power structures, not serving its people like we'd hope nor even to keep the rules fair like conservatives or libertarians would claim. It's a solid oligarchy. Bailing out billionaires after dragging our feet on bailing our citizes is like a moral event horizon to me.



Wall Street's Big Money Is Betting On Biden And Democrats In 2020​




I'll be surprised if he or his cabinet don't find some way to stop the market doing it's thing, gotta protect those donars, no?

Reactions: Agree 1


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## Reznor (Jan 27, 2021)

dergeist said:


> Wall Street's Big Money Is Betting On Biden And Democrats In 2020​
> 
> 
> 
> ...


I'd love Biden to prove me wrong, but that's probably not going to happen. Obama could've bailed out the people that the banks borrowed from instead in 2009, but he didn't.

Reactions: Agree 3


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## Juan (Jan 27, 2021)

*Spoiler*: __

Reactions: Funny 13


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## Van Basten (Jan 27, 2021)

Glorious.

It’s kind of pathetic how hard CNBC (barring Cramer) is trying to demonize these guys.


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## Wolfgang Grimmer (Jan 27, 2021)

Cardboard Tube Knight said:


> And like people's pensions, retirement, and stocks.
> 
> Not everyone who has stock in things is rich. Like everyone here is yucking it up, but if one of them lost a chunk of their retirement over some stupid bullshit like this I bet they'd change their tune.


these hedge fund assholes are literally depending on entire businesses to fail to turn a profit

Reactions: Agree 1 | Winner 2


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## Utopia Realm (Jan 27, 2021)

Kyle says it pretty well here.

Reactions: Informative 2


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## Breadman (Jan 27, 2021)

Just trekked over to the wallstreetbet reddit, holy cow they're going crazy over there. These guys are really determined to hold the line and not back down. I love it.


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## Drake (Jan 27, 2021)

Been subscribed there for a while. I was so close to buying GME but ended up not doing it (because to be honest the people on that subreddit are wrong 90% of the time)... Now I am salty every time I see a post about this shit


As for hedge funds complaining, they need to shut up and eat the loss. They played the game and lost, just like millions of people do every day. They shouldn't be expecting special treatment.

Anyway, the price will eventually fall and many people will be wrecked by this when they don't sell their stock before the downturn. And all of the new people who have joined WallStreetBets are in for a rude awakening when they realize that the subreddit is not the oracle that they think it is... In fact, it used to be famous for the insane losses that people would post on there, so that should tell you all you need to know about the average trade outcomes of users there. I can see a lot of people who are just now getting into stocks because of this incident getting burned in the future when they inevitably let this one-off, miraculous event color their view of the market.

Reactions: Agree 2 | Friendly 1


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## Orochibuto (Jan 27, 2021)

Cardboard Tube Knight said:


> And like people's pensions, retirement, and stocks.
> 
> Not everyone who has stock in things is rich. Like everyone here is yucking it up, but if one of them lost a chunk of their retirement over some stupid bullshit like this I bet they'd change their tune.



For pensions and retirement you dont go to high risk hedge funds, you go to S&P 500.

Reactions: Agree 1 | Winner 1


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## Mider T (Jan 27, 2021)



Reactions: Like 2 | Funny 1


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## Yamato (Jan 28, 2021)

This is crazy yet hilarious

Reactions: Agree 1 | Funny 1


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## Azula (Jan 28, 2021)

The fire rises.

But how long can reddit survive given the frequent bad press it gets. Someone will eventually want to clamp down on the chaos.

Reactions: Like 1


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## Parallax (Jan 28, 2021)

i dont like portnoy but all of this just made me burst out laughing

Reactions: Funny 1


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## Wolfgang Grimmer (Jan 28, 2021)

reading through wsb and people be getting enough money to start companies and pay for cancer treatments and write their mom's checks
shit's amazing

Reactions: Like 2 | Friendly 4


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## stream (Jan 28, 2021)

It is super funny to see the hedge funds get wrecked. That said, it's super important to realize that eventually GME is going to crash down. And when that happens, there's likely going to be thousands and thousands of lives destroyed among the fanatics on wsb who fueled the squeeze.

The shouting about holding and buying even more GME stock is fundamentally terrible advice, pretty much advising other people to stay on the Titanic so that there will be enough space for you in the lifeboats.

It seems it's not possible for most people to short the stock anymore, because there's no share available to borrow, and it's generally not allowed to do naked short selling.


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## Breadman (Jan 28, 2021)

My fear is the retaliation that might come from this. It's gonna be pretty blatant if they try to advocate for laws that restrict only the small retail buyers who aren't big corp, and big wigs in the stock market aren't exactly what I'd call ethical people who play by the rules in order to stay on top.

Reactions: Like 2 | Agree 1


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## dergeist (Jan 28, 2021)

Wolfgang Grimmer said:


> reading through wsb and people be getting enough money to start companies and pay for cancer treatments and write their mom's checks
> shit's amazing



Yes, that made me happy as well  quite a few had ill relatives and can now pay for their treatment, while others can have a better life.


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## Parallax (Jan 28, 2021)

Wolfgang Grimmer said:


> reading through wsb and people be getting enough money to start companies and pay for cancer treatments and write their mom's checks
> shit's amazing


it's things like this that makes this worthwhile


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## Mider T (Jan 28, 2021)




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## Kingslayer (Jan 28, 2021)

I am not sure this will likely repeat again . I can forsee Biden administration having emergency meeting with hedge funds .

However the guy in video is right you cannot shut the internet there will be another sub reddit  section that will pop up in few months , the days of traditional way of working is finished . The new generation especially the rookie investors  will likely force other companies to change and adapt  how they ran  so far .

Reactions: Like 1


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## Alwaysmind (Jan 28, 2021)

> And that volatility exists until the game, well, stops.


The journalist had been sitting on that joke for hours trying to find a way to sneak it in.

Reactions: Funny 3


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## Alwaysmind (Jan 28, 2021)

The funny thing is that thee gamers will end up losing more money when the realize that Gamestop will still go into bankruptcy, despite their pump and dump scheme.

Reactions: Agree 1


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## Kingslayer (Jan 28, 2021)

Azula said:


> The fire rises.
> 
> But how long can reddit survive given the frequent bad press it gets. Someone will eventually want to clamp down on the chaos.


If you shut it there will be another one that will pop . Who can actually stop them ? This is  disruption the oldies who are sitting on wall street are shit scared by these rookies .


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## Parallax (Jan 28, 2021)

I do think after this, if there's another wall street bailout of major size the population is going to wyle out


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## dergeist (Jan 28, 2021)

Dark Shadow said:


> I am not sure this will likely repeat again . I can forsee Biden administration having emergency meeting with hedge funds .
> 
> However the guy in video is right you cannot shut the internet there will be another sub reddit  section that will pop up in few months , the days of traditional way of working is finished . The new generation especially the rookie investors  will likely force other companies to change and adapt  how they ran  so far .



Biden admin is the stooge of Wall Street, they received massive donations (far more than republicans) from them.

Reactions: Agree 2


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## MrPopo (Jan 28, 2021)

I never knew @RemChu was a Trump supporter

Reactions: Funny 1


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## dergeist (Jan 28, 2021)

MrPopo said:


> I never knew @RemChu was a Trump supporter



And people pretend like CNN isn't fake news @GRIMMM @Ren.


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## Kingslayer (Jan 28, 2021)

Internet is playing big deal , i like how Z gen  are using live update by minute to sell stock . The boomers will need govt protection other than that all they can do is whine and cry how unfair the redditors are .


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## Kingslayer (Jan 28, 2021)

MrPopo said:


> I never knew @RemChu was a Trump supporter


Read above what i said , this has nothing to do with Trump wtf ?


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## Alwaysmind (Jan 28, 2021)

I was going to say that the Café should unite behind Blockbuster and do the same, but the same Reddit Group has already tackled it at the same time they bought Gamestop stocks.  

In that case, we should all invest in a telegram company.


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## Kingslayer (Jan 28, 2021)




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## dergeist (Jan 28, 2021)

They're dividing too much money, unless they grow more supporters, they will dilute their power. They should tackle 2 stocks at a time, imo

Reactions: Like 1


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## GRIMMM (Jan 28, 2021)

dergeist said:


> And people pretend like CNN isn't fake news @GRIMMM @Ren.


You know I despise Trump, but this is pure TDS. Of course CNN doing the bidding of Wall Street... they're all in bed together.

Reactions: Like 2 | Agree 2


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## xenos5 (Jan 28, 2021)

GRIMMM said:


> You know I despise Trump, but this is pure TDS. Of course CNN doing the bidding of Wall Street... they're all in bed together.


Meh, it’s just an opinion piece. If you really want to see a news network making a concerted effort to cover Wall Street’s ass and demonizing common folk look at CNBC.


One guy whining about how what hedge funds do is “not the same” and “isn’t market manipulation” and even starting to blame “foreign powers” for the GameStop stock stuff 

I’ve looked through r/WSB occasionally and they seem to really hate CNBC for shit like that (Except for the Kramer guy who defended them a bit).

Reactions: Winner 1


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## GRIMMM (Jan 28, 2021)

xenos5 said:


> Meh, it’s just an opinion piece. If you really want to see a news network making a concerted effort to cover Wall Street’s ass and demonizing common folk look at CNBC.
> 
> 
> One guy whining about how what hedge funds do is “not the same” and “isn’t market manipulation” and even starting to blame “foreign powers” for the GameStop stock stuff
> ...


I watched Chamath Palihapitiya on CNBC trolling the fuck outta the host. Pretty funny to watch the neolibs cry over their money. Saw a Billionaire CEO on Fox News actaully ASK for regulation... the same guys who are constantly asking for LESS regulation on the Stock Market. You couldn't make it up.

Reactions: Like 1 | Funny 2


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## Solar (Jan 28, 2021)

It's nice to see the common man using the stock market to his own advantage. Of course, the powers-that-be have already made moves to suppress this little moment (e.g. banning on Discord for "hate speech") to try and curb the momentum. 

I can't wait to see the government rally to bailout the hedge funds while being unable to bailout the people who are truly struggling. 

A friend of a friend has so far made a nice profit with the AMC investment, though I think she may need to get off of this bubble asap.

Reactions: Like 1 | Agree 1


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## Dragon D. Luffy (Jan 28, 2021)



Reactions: Funny 1 | Winner 4


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## Dragon D. Luffy (Jan 28, 2021)

MrPopo said:


> I never knew @RemChu was a Trump supporter



I mean.

This is what their discord server looks like.

Or at least how it used to look like, since Discord shut it down yesterday.



Of course the timing of the shut down is too convenient, but the only thing wrong is that they hadn't shut down this before.

Not gonna say everyone in that subreddit is a Trumpist, but it's likely the majority.


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## Son of Goku (Jan 28, 2021)

Not sure if this is "real".


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## dergeist (Jan 28, 2021)

Son of Goku said:


> Not sure if this is "real".


It's still active on Reddit


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## MrPopo (Jan 28, 2021)

Dragon D. Luffy said:


> I mean.
> 
> This is what their discord server looks like.
> 
> ...


It's been a edgy sub long before Trump 


Son of Goku said:


> Not sure if this is "real".


Nah


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## Dragon D. Luffy (Jan 28, 2021)

MrPopo said:


> It's been a edgy sub long before Trump



The alt-right ideology existed before Trump too, that's how he got elected.


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## Reznor (Jan 28, 2021)

Y'all ready? 

I wonder what explanation the republicans will use actually. Siding with hedge funders isnt normally something they have a problem justifying to their base, but I wonder of itll be trickier with the rift they have forming already and the frustration with no $2000 checks. Plus, theres a lot of red voters that will side with the reddit posters on the libertarian angle of "sorry, you lost" to hedges and even more that'll just start off against Biden.

Reactions: Funny 4 | Winner 2


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## Kingslayer (Jan 28, 2021)

xenos5 said:


> Meh, it’s just an opinion piece. If you really want to see a news network making a concerted effort to cover Wall Street’s ass and demonizing common folk look at CNBC.
> 
> 
> One guy whining about how what hedge funds do is “not the same” and “isn’t market manipulation” and even starting to blame “foreign powers” for the GameStop stock stuff
> ...


Its funny to watch the host bashing him up.

Reactions: Agree 1


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## Foxve (Jan 28, 2021)

I'm sorry if this is a dumb question to ask but can someone explain how stocks work to me? Also is it too late to cash in on this? 

I don't really understand what's going on. But I feel like this is about rich people that earn easy money complaining that they can't do it anymore. Am I correct?

Reactions: Friendly 1


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## dergeist (Jan 28, 2021)

Dragon D. Luffy said:


> The alt-right ideology existed before Trump too, that's how he got elected.



They're mostly millneinals, nothing really right about them. They are a mixed bag, left, right, centrist, much like most of us, but they love their memes and are edgy. 

Many of us here are left and others right, yet we agree on the market redistributing wealth like it did is a good thing. Even though the left would rather the government take the money and give it how it sees fit (Not really benefiting since it distributes it as pittance). Yet most of us have been cheering on WSBs, the market at play and the redistribution in concentration. Well all except those who are salty or corporate stooges. Anyway, nobody is going to say most of us are right or alt right.


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## Kingslayer (Jan 28, 2021)

Havent seen homophobia in that place . The place is more of spam filter i literally gave up looking at convo.

Lets not bring Trump here the bets were before him as well its true most of them are likely Trump supporter because most of the gamers and retail  usually lean to republican .

Reactions: Agree 1


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## dergeist (Jan 28, 2021)

Reznor said:


> Plus, theres a lot of red voters that will side with the reddit *posters on the libertarian angle of "sorry, you lost" to hedges *and even more that'll just start off against Biden.



*@bold: *Exactly why I'm siding with WSBs, we saw the market in action, made a lot of people better off and billions were transferred through a market mechanism and it will enter the real economy. Fair play, if the little guy won, he won, via market processes.

Now the elite on the right, the dems and their media machine want to force regulation, which keeps the little guy out of the market "for their benefit," and benefiting from it. You know to protect the donations class. Keep a group (the majority) permantly poor and as the most taxed underclass.

Reactions: Like 2


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## reaperunique (Jan 28, 2021)

Son of Goku said:


> Not sure if this is "real".



No, the only real Twitter account of the WSB mods is this one:

Also, the real OG is u/DeepFuckingValue / Roaring Kitty:

This guy has diamond hands. He held 50K all the way back since 2019 and called this way in advance. He is also the one that started putting the GME Bulls on the map. He turned 50K into 50M and is *still *holding. He shares his Gain porn in WSB:

Don't believe anything linking this to politics even though the narrative is now that it's to stick it to the hedge funds and suites. WSB is not (originally) like that. It started with one guy whole having a bull thesis for GME and sharing his DD (of which the short squeeze was a part) and later his gain porn. Heck most on WSB calmed him an idiot way back for holding. but It took off at the end of 2020. when the stock climbed up out of the tens and DFV saw his first million then shit really got crazy.

On top of that WSB knows they are idiots, before GME blew up, there was a lot more loss porn instead of gain porn. Look at this:

^that is WSB.



I've been following this in 2020 but only entered at 40USD. Currently sitting at 700% profit.

Reactions: Informative 1


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## Kingslayer (Jan 28, 2021)

Reznor said:


> Y'all ready?
> 
> I wonder what explanation the republicans will use actually. Siding with hedge funders isnt normally something they have a problem justifying to their base, but I wonder of itll be trickier with the rift they have forming already and the frustration with no $2000 checks. Plus, theres a lot of red voters that will side with the reddit posters on the libertarian angle of "sorry, you lost" to hedges and even more that'll just start off against Biden.


They will side with Joe biden of course. They really dont care unless hedge buddies donate them for fundraisers.


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## Kingslayer (Jan 28, 2021)

Foxve said:


> I'm sorry if this is a dumb question to ask but can someone explain how stocks work to me? Also is it too late to cash in on this?
> 
> I don't really understand what's going on. But I feel like this is about rich people that earn easy money complaining that they can't do it anymore. Am I correct?


No, l have investment in barclays btw and by wealth standard i consider myself middle class  . Anyone can invest , the rich kids invest in millions in shares.


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## Delta Shell (Jan 28, 2021)

dergeist said:


> They're mostly millneinals, nothing really right about them. They are a mixed bag, left, right, centrist, much like most of us, but they love their memes and are edgy.
> 
> Many of us here are left and others right, yet we agree on the market redistributing wealth like it did is a good thing. Even though the left would rather the government take the money and give it how it sees fit (Not really benefiting since it distributes it as pittance). Yet most of us have been cheering on WSBs, the market at play and the redistribution in concentration. Well all except those who are salty or corporate stooges. Anyway, nobody is going to say most of us are right or alt right.


This is spot on, what we're seeing right now is much more generational rather than left/right. The other part is class divide/wealth distribution. This sentiment has been brewing for a long time and right now a lot of people have the opportunity to carve out It their pound of boomer flesh. It feels and indeed is, personal.

Reactions: Like 1 | Agree 1


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## MrPopo (Jan 28, 2021)

Dragon D. Luffy said:


> The alt-right ideology existed before Trump too, that's how he got elected.


Well the financial times accused WSB being apart of the alt right and had to retract their statement after the WSB mods called them out


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## makeoutparadise (Jan 28, 2021)

A group of average citizens can’t come together and buy stock? Fuck you hedge funds.

Reactions: Like 2 | Agree 2


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## dergeist (Jan 28, 2021)

makeoutparadise said:


> A group of average citizens can’t come together and buy stock? Fuck you hedge funds.



You mean, f**k you their cronies (government and SEC).


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## Dragon D. Luffy (Jan 28, 2021)

MrPopo said:


> Well the financial times accused WSB being apart of the alt right and had to retract their statement after the WSB mods called them out



Just saying, just because we like what they are doing doesn't mean we have to attack anyone who criticizes them as if they are a corporate shill. Nobody is perfect, and those guys put "no gays allowed" in their chat's rules so they are pretty damn far from perfect.


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## Dragon D. Luffy (Jan 28, 2021)

Delta Shell said:


> This is spot on, what we're seeing right now is much more generational rather than left/right. The other part is class divide/wealth distribution. This sentiment has been brewing for a long time and right now a lot of people have the opportunity to carve out It their pound of boomer flesh. It feels and indeed is, personal.



I mean, left/right IS class divide.

It's just that a lot of what Americans call "the left" do a poor job at representing the lower classes and that's the reason the Democracts aren't a proper left-wing party.

Meanwhile some of the right-wing politicians have managed to adopt that class discourse while hiding the fact they are actually working to protect the rich, because being right-wing is about being pro-elite. That's the original meaning of the right and left terms.


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## MrPopo (Jan 28, 2021)

Dragon D. Luffy said:


> Just saying, just because we like what they are doing doesn't mean we have to attack anyone who criticizes them as if they are a corporate shill. Nobody is perfect, and those guys put "no gays allowed" in their chat's rules so they are pretty damn far from perfect.


Ye there not perfect but it's disingenuous to say that they are part of the alt right.  You're reading to much into the "no gays allowed"  its not a literal meaning  its zoomers being edgy for memes

Reactions: Agree 1 | Funny 1


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## Capt. Autismo (Jan 28, 2021)

'Big Short' investor Michael Burry blasts Reddit-fueled GameStop rally as 'unnatural, insane, and dangerous'
					

"What is going on now - there should be legal and regulatory repercussions," the Scion Asset Management boss tweeted.




					www.businessinsider.com


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## Magic (Jan 28, 2021)

The party is over. :S

Reactions: Agree 1


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## MrPopo (Jan 28, 2021)

Capt. Autismo said:


> 'Big Short' investor Michael Burry blasts Reddit-fueled GameStop rally as 'unnatural, insane, and dangerous'
> 
> 
> "What is going on now - there should be legal and regulatory repercussions," the Scion Asset Management boss tweeted.
> ...


Micheal Burry rn:


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## MrPopo (Jan 28, 2021)

RemChu said:


> The party is over. :S


What happened?


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## Kingslayer (Jan 28, 2021)

Lol the server is gone.


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## Solar (Jan 28, 2021)

Dragon D. Luffy said:


> I mean.
> 
> This is what their discord server looks like.
> 
> ...


It doesn't look like they don't disallow homosexuals but don't really care if you are or not. The purpose of the Discord, it seems, is to primarily focus on bets and not other factors. 

A screenshot like that is benign relatively speaking. It is, though, an easy way for the media to spin this as some Trump spawn in order to rally the unaware to the side of hedge funds.


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## Kingslayer (Jan 28, 2021)

Trading 212 has placed GME and AMC on reduce only mode  so you cant evaluate your risk. There is chance of market manipulation.


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## Magic (Jan 28, 2021)

dergeist said:


> The free market doing it's thing
> 
> We can't have that, now can we, better get Biden to trample on the average American trader/investor. Wealth transfer via markets would equal less political donations and the dems benefit generously from Wall Street. And the cool thing is, it would have thickened downa dn be spent back into the economy.
> 
> Far better than the governments and fed (QE which mainly affects the asset prices, not entering the real economy) version of trickle down


The blame isnt soley on Biden. The capitalist system serves hierarchies. The hedge funds, bankers etc. Are at the top. If Trump was still in power he would be helping them just the same.

Reactions: Agree 1


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## Kingslayer (Jan 28, 2021)



Reactions: Like 3


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## Kingslayer (Jan 28, 2021)




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## Magic (Jan 28, 2021)

Hmmm gme climbing again. LES Go!!!!

Reactions: Like 2


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## dergeist (Jan 28, 2021)

Gamestop just hit $420

Reactions: Funny 1 | Winner 3


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## Reznor (Jan 28, 2021)

> “At times like this your company is not your stock and your stock is not your company,” Kennedy told CNBC on Wednesday.



Imagine being this close and still missing the point.


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## ~Gesy~ (Jan 28, 2021)




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## Magic (Jan 28, 2021)

dergeist said:


> Gamestop just hit $420


I saw that premarket this morning. Exactly 420

Reactions: Like 2


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## blk (Jan 28, 2021)

Foxve said:


> I'm sorry if this is a dumb question to ask but can someone explain how stocks work to me? Also is it too late to cash in on this?
> 
> I don't really understand what's going on. But I feel like this is about rich people that earn easy money complaining that they can't do it anymore. Am I correct?



Stocks are a share of ownership of a company which you buy on exchanges through a broker.

The way you make money from stocks is either by receiving a % of dividends equivalent to your % of ownership of a company, or by price appreciation of the stocks you have.
For the latter, say you have bought 10 stocks of GameStop at 30$ each and now they are worth 300$ each, you made 2700$ of capital gains (which can easily revert if stock price decreases, to realize them you would have to sell those 10 stocks at the 300$ price and receive the 3000$ cash, on which you will pay taxes ofc).

Stock appreciation is caused by increased demand for the stock, i.e by more people or institutions wanting to buy it (for whatever reason, be it because it is a solid company, or for speculation, for meme-ing, etc).

What happened with GameStop is that tons and tons of people (a few millions judging from r/wallstreetbets) suddenly started to buy its stocks to spite on Melvin Capital (hedge fund, i.e a fund that makes money by speculating on asset prices as explained above and by shorting and with other financial instruments).

To spite, because Melvin Capital had a huge shorting position (shorting being "the opposite" of buying a stock in a sense, as you borrow a stock and sell it at current price, but after a time you have to give it back, thus you make money if the price at which you buy it  to give it back is inferior to the price of when you sold it after borrowing) against GameStop, pretty much intending to crash its value to the ground (since if a weak company is also very much shorted, it kind of becomes a self-fulling prophecy that the stock decreases in price as many people will think that the company is no good and thus will not want to buy its shares and those who have them will likely sell).

But a shorting position loses money if the price increases instead of decreasing (again, opposite of buying a stock), thus all these people bought so much that the price of GME increased massively and the hedge fund lost literally billions on their shorting position.



After this several people are calling for more regulations against the small retail investors, which is completely ridiculous since nothing illegal happened and this kind of speculation is nothing out of the ordinary for the huge speculative funds.

Thus highlighting the insane hypocrisy of these funds, finance billionaires and media outlets, who as long as they make money they are all pro speculation, free market etc, but when it's the little guys that outplay them at their own game, then they want to rig the market and make special rules for themselves.

EDIT: or even outright removing/stopping the trading of these companies' stocks from the brokerages as it is now happening.

So yes it is too late to cash on this and in general i would strongly advise to not get into these pump&dump schemes, if you ever get into stocks (or at least not before educating yourself on this stuff and being very very confident on what you are doing).
Stocks in and on themselves are good investment vehicle if used sensibly (wide diversification, passive approach on solid companies, etc), but when talking about pure speculation like in the GameStop case the chance of losing money is extremely high.

Reactions: Like 2 | Winner 1


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## Solar (Jan 28, 2021)

Wall Street is shutting it down. It's time to be reminded which politicians are in their pockets. We know Republicans will bend the knee. Let's see which Democrats will follow. Warren has already exposed herself (again).

Reactions: Like 1 | Agree 1


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## Magic (Jan 28, 2021)

Checked on Robinhood. You can no longer buy or do anything with Gme. Wtf

Reactions: Funny 1


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## MrPopo (Jan 28, 2021)

RemChu said:


> Checked on Robinhood. You can no longer buy or do anything with Gme. Wtf


I wonder if the SEC will step in


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## ~Gesy~ (Jan 28, 2021)

This is wild. I should've caught on when I had the chance!


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## dergeist (Jan 28, 2021)

blk said:


> What happened with GameStop is that tons and tons of people (a few millions judging from r/wallstreetbets) suddenly started to buy its stocks to spite on Melvin Capital (hedge fund, i.e a fund that makes money by speculating on asset prices as explained above and by shorting and with other financial instruments).



Not just that, they (smart kids) found a gap in the market, the hedge funds had shorted 140% of the company. They tried to crush the stock, bting it down from $20 to $3, they would've effectively bankrupted it (14,000 unemployed people) as it sends out a signal to the markets something is wrong. That means if Game stop needed a line of credit, they wouldn't ha e been able to get one, and another company would've picked it up for pennies, asset stripped it and made pounds. The hedge funds doesn't have a moral pass here, none whatsoever.

Anyway, those people picked up on that short squeeze potential, went on the momentum trade, others also piled in, and the stock shot up, hedge funds doubled down as did the kids. Those shares needed to be brought back by the short sellers to give back to the brokers (they issue a margin call), and since there aren't sellers (supply and demand forced the prices up), the market did it's thing. Many of the kids have pocketed the difference, other platforms have started to suspend trading of GME to save the big money (blatant market interference).

This wasn't just a spite trade like it's being made out, it was a very tactical trade by the WSB community. The hedgefund/smart money apologists are covering because their boys got caught with their pants down. It's alright for them to fuck everyone, but its not okay for them to get fucked. Double standards I tell you.


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## Kingslayer (Jan 28, 2021)




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## GRIMMM (Jan 28, 2021)

dergeist said:


> Gamestop just hit $420


Blaze it.


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## Catamount (Jan 28, 2021)

I am following this thread and I keep wanting to ask, what is next? I mean, this seems to be some average company that cannot be expected to give decent profit. What are they going to do with the shares after the party is over? Are they simply wasting money to make a point? I am probably missing the point where the flock that follows actually benefits. I mean, right now some are probably gaining from selling, but what is the final financial goal? I understand the social one, not the income one.


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## MrPopo (Jan 28, 2021)

Catamount said:


> I am following this thread and I keep wanting to ask, what is next? I mean, this seems to be some average company that cannot be expected to give decent profit. What are they going to do with the shares after the party is over? Are they simply wasting money to make a point? I am probably missing the point where the flock that follows actually benefits. I mean, right now some are probably gaining from selling, but what is the final financial goal? I understand the social one, not the income one.


There ridding the bubble before it pops, the shorters have to buy the stock back


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## dergeist (Jan 28, 2021)

Hedge funds and their cronies tryna shut them down before the calls expire on Friday. Blame the Democrats/Republicans and their acolytes in key positions.





The grayed out means, not available for trading.

Reactions: Agree 1


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## Aduro (Jan 28, 2021)

Man, its crazy what can be referred to as an angry mob. They're just buying a load of stocks and screwing over some relatively unscrupulous investors. The hedge funds are in this position because the decided to get involved in some convoluted method of shorting stocks instead of using their money to help businesses do thing that people want or need. And the subreddit isn't violent or acting illegally.

Reactions: Agree 4


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## Pliskin (Jan 28, 2021)

Watch politicians to push against this and Gatekeep trading away from small individuals.

The game has been exposed as the scham it is and now suddenly rational market actors are being dubbed 'angry mob'.

Reactions: Agree 1


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## Catamount (Jan 28, 2021)

MrPopo said:


> There ridding the bubble before it pops, the shorters have to buy the stock back


Ah, ok, I see the point now. Unless the bankruptcy speculations for Melvin Capital come real, I guess. They hold the biggest interest here from what I understand.


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## Kingslayer (Jan 28, 2021)

dergeist said:


> Hedge funds and their cronies tryna shut them down before the calls expire on Friday. Blame the Democrats/Republicans and their acolytes in key positions.
> 
> 
> 
> ...


Yep crony capitalism , its not like they are even hiding  in front of people . This  will make people elect anti establishment candidate in next election more than ever .


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## Kingslayer (Jan 28, 2021)

Catamount said:


> Ah, ok, I see the point now. Unless the bankruptcy speculations for Melvin Capital come real, I guess. They hold the biggest interest here from what I understand.


cute  pfp btw

Reactions: Friendly 1


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## dergeist (Jan 28, 2021)

Pliskin said:


> Watch politicians to push against this and Gatekeep trading away from small individuals.
> 
> The game has been exposed as the scham it is and now suddenly rational market actors are being dubbed 'angry mob'.



Absolutely, keep the poor poorer and make the rich richer, this is why they will try and regulate the free market, or make it nigh impossible for the little guy/gal to participate in the wealth creation or transfer away from the rich. And people wonder why I'm against big government and over bearing state.


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## Kingslayer (Jan 28, 2021)

CNBC radio calls Elon musk as Indiana Jones


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## dergeist (Jan 28, 2021)

Dark Shadow said:


> CNBC radio calls Elon musk as Indiana Jones



Big daddy Elon sounds cooler, it's from WSB


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## dergeist (Jan 28, 2021)

Trading app Robinhood SHUTS DOWN GameStop stock, after Reddit traders embarrass Wall Street​
Trading app Robinhood has banned its users from buying GameStop, AMC, Blackberry and Nokia stock, after its users inflated the value of GameStop stock and inflicted billions of dollars of losses on Wall Street fat cats.

Traders logging on to Robinhood on Thursday were informed that they were no longer able to purchase stock in $GME, $AMC, $BB and $NOK (GameStop, AMC Theaters, Blackberry and Nokia). These are the four companies whose share prices were massively inflated in recent weeks by crowds of amateur investors purchasing their stocks.

$GME was trading at $316 before the halt, and then dropped to below $300. However, it recouped all of its losses once the markets opened, even as the NASDAQ temporarily paused trading.

Some users reported that they were only allowed to close out their positions, but with nobody to buy, these users stood to lose massive profits.

The shutdown came after these traders inflicted punishing losses on some of Wall Street’s biggest hedge funds, while getting filthy rich themselves in the process. Investing firm Citron Research declared GameStop, the video games retailer hammered in recent years by the move to digital downloads, a stock in _“terminal decline,”_ prompting other investors to take short positions on the stock. Put simply, the firms borrowed shares in GameStop, anticipating a continued drop in its market value, hoping to buy these shares back at a lower price then return their original borrowed shares to lenders and pocket the profit.

The influx of amateur investors drove GameStop’s value up by more than 700 percent in January, forcing these funds to buy the shares at far more than they borrowed them at. Short sellers lost  on Wednesday alone, according to data firm S3 Partners, with one fund, Melvin Capital, requiring nearly $3 billion in bailout money from friendly firms to avoid bankruptcy.

Wall Street insiders accused the amateur investors, most of whom congregated on Reddit’s ‘WallStreetBets’ subreddit, of market _“manipulation,”_ with some of the most powerful voices in the financial establishment demanding they be investigated and punished. However, these establishment fat cats have in turn been accused of engaging into  themselves when they paused GameStop, Nokia, and AMC trading at multiple points throughout Wednesday. Similar accusations were leveled at Discord, which banned ‘WallStreetBets’ groups from its platform later that evening citing allegations of _“hate speech.”_

Robinhood’s move infuriated the app’s former supporters, who accused it of reneging on its promise to _“democratize finance for all.”

“Either @RobinhoodApp allows free trading or it’s the end of Robinhood. Period,”_ sports blog owner and philanthropist Dave Portnoy .

Despite its promise to bring trading to the masses, Robinhood is intimately connected with the Wall Street establishment. Chicago-based Citadel Securities functions as something of a  between Robinhood and exchanges like the NASDAQ (on which GameStop is traded), taking a cut of the earnings along the way. Citadel is also one of the firms that bailed out Melvin Capital earlier this week, and as such would benefit from GameStop’s stock crashing.

Interactive Brokers, another retail trading broker, followed Robinhood’s lead on Thursday and put the same stocks into liquidation, citing _“extraordinary volatility in the markets.”_


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## Kingslayer (Jan 28, 2021)

Big f**ks to Wallstreet Snobs


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## Juan (Jan 28, 2021)

it went down for a second

now foreigners are buying the fuck in and it's going up again

never again underestimate the meme holy shit

Reactions: Funny 4


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## Son of Goku (Jan 28, 2021)



Reactions: Winner 1


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## Pliskin (Jan 28, 2021)

Son of Goku said:


>


Way to go AOC, thats why having even a few good players in the halls of power is sooo important,

every bit of media heat helps.


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## Kingslayer (Jan 28, 2021)

Conservative will now love AOC .

Reactions: Like 1


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## MrPopo (Jan 28, 2021)

Dark Shadow said:


> Conservative will now love AOC .


They've always loved her for different reasons tho

Reactions: Funny 5 | Lewd 2


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## stream (Jan 28, 2021)

It is pretty incredible that Robinhood would just tell their users they're only allowed to sell the stocks. Who would buy it then? They might just have destroyed their own company. Their users are first going to desert the app, and then the lawsuits will start coming.

With Ameritrade doing the same at the same time, it feels like they took a concerted decision... Weird times.


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## MrPopo (Jan 28, 2021)

stream said:


> It is pretty incredible that Robinhood would just tell their users they're only allowed to sell the stocks. Who would buy it then? They might just have destroyed their own company. Their users are first going to desert the app, and then the lawsuits will start coming.
> 
> With Ameritrade doing the same at the same time, it feels like they took a concerted decision... Weird times.


Shows how badly these hedge funds are bleeding would rather take a class action lawsuit and a hit to their image


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## GRIMMM (Jan 28, 2021)

stream said:


> It is pretty incredible that Robinhood would just tell their users they're only allowed to sell the stocks. Who would buy it then? They might just have destroyed their own company. Their users are first going to desert the app, and then the lawsuits will start coming.
> 
> With Ameritrade doing the same at the same time, it feels like they took a concerted decision... Weird times.


It's more than just RH. Lots of these traders are now stopping people buying on apps, but allowing them to sell.


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## Dragon D. Luffy (Jan 28, 2021)

Listen to AOC and Trump Jr. guys.

Reactions: Funny 6


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## GRIMMM (Jan 28, 2021)

Dragon D. Luffy said:


> Listen to AOC and Trump Jr. guys.


The left and right rn.

Reactions: Funny 3


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## Kingslayer (Jan 28, 2021)

What the hell is happening Ted Cruz retweeting AoC . 2021   is already off to glorious start

Reactions: Funny 6


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## MrPopo (Jan 28, 2021)

Dragon D. Luffy said:


> Listen to AOC and Trump Jr. guys.


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## Azula (Jan 28, 2021)

Dragon D. Luffy said:


> Listen to AOC and Trump Jr. guys.


What kind of teamup is this?

Reactions: Funny 7


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## Dragon D. Luffy (Jan 28, 2021)



Reactions: Funny 2


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## GRIMMM (Jan 28, 2021)

Azula said:


> What kind of teamup is this?


One that establishment democrats and republicans will be raging over.

Reactions: Agree 1


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## MrPopo (Jan 28, 2021)

Azula said:


> What kind of teamup is this?


And they say Infinity was the biggest crossover

Reactions: Agree 1


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## Dragon D. Luffy (Jan 28, 2021)




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## blk (Jan 28, 2021)

Not a lawyer but i bet this ain't legal.

People on reddit are organizing a class action for market manipulation and such.


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## Dragon D. Luffy (Jan 28, 2021)



Reactions: Like 1


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## Catamount (Jan 28, 2021)

This literally cannot be possible to do legally unless there is small box in the account with tiny text next to it which you absolutely need to agree with to proceed with the registration at all. Apps ain't lawless online, they abide to more rules than their users. Otherwise they are facing to lose more in courts right now than they would gain from liking the asses asking them to do this.


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## Mider T (Jan 28, 2021)



Reactions: Like 2


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## ~Gesy~ (Jan 28, 2021)

Azula said:


> What kind of teamup is this?


Not so fast!

Reactions: Funny 10


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## Mider T (Jan 28, 2021)



Reactions: Funny 2 | Informative 1


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## Zeit (Jan 28, 2021)

Robinhood Hit With Class Action Suit—but Here’s Why It’s Likely to Fail
					

Michael M. Santiago/GettyThe financial trading app Robinhood has been hit with a federal class-action lawsuit after it restricted trades to stocks popular on the Reddit forum r/WallStreetBets, sending Redditors and app users into a meltdown.The lawsuit, filed in the Southern District of New York...




					news.yahoo.com
				




Class Action lawsuit against Robinhood for their actions over GME, AMC and other shorted stocks.

Reactions: Like 5


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## Hand Banana (Jan 28, 2021)

2020 was about elections and covid. 2021 will be about Big tech and covid.


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## Utopia Realm (Jan 28, 2021)

So, is there a chance some of these Reddit folks get some $$ from this lawsuit?

Cause if so


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## Hand Banana (Jan 28, 2021)

Utopia Realm said:


> So, is there a chance some of these Reddit folks get some $$ from this lawsuit?
> 
> Cause if so


What lawsuit? Nothing they did was illegal.


Oh the lawsuit above. I'[m sure they will pay the government a fine I assume.


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## dergeist (Jan 28, 2021)

stream said:


> It is pretty incredible that Robinhood would just tell their users they're only allowed to sell the stocks. Who would buy it then? They might just have destroyed their own company. Their users are first going to desert the app, and then the lawsuits will start coming.
> 
> With Ameritrade doing the same at the same time, it feels like they took a concerted decision... Weird times.


Citadel which bailed out the hedge funds is also Robinhood's dealer. What do you rhubarb happened there

Reactions: Like 2


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## Utopia Realm (Jan 28, 2021)

Yeah, the one above. I should have clarified better. This news makes my week a bit better.


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## dergeist (Jan 28, 2021)



Reactions: Funny 4


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## Juan (Jan 28, 2021)

Dragon D. Luffy said:


> Listen to AOC and Trump Jr. guys.


POLITICIANS.....


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## Van Basten (Jan 28, 2021)

Dragon D. Luffy said:


> Listen to AOC and Trump Jr. guys.


Strange times make strange bedfellows.


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## dergeist (Jan 28, 2021)

Dragon D. Luffy said:


> Listen to AOC and Trump Jr. guys.



Where's @Ruthless Tsuchikage hiding with those openly corrupt people

Reactions: Funny 1


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## Brian (Jan 28, 2021)



Reactions: Like 5 | Winner 1


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## dergeist (Jan 28, 2021)



Reactions: Informative 1


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## Ruthless Tsuchikage (Jan 28, 2021)

dergeist said:


> Where's @Ruthless Tsuchikage hiding with those openly corrupt people


Lol he says as if the Trump administration would have acted differently. But yeah, I'm on team Reddit, obviously. I just don't particularly buy the argument that an openly corrupt businessman would have sided with reddit over Wallstreet.

Reactions: Optimistic 1


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## dergeist (Jan 28, 2021)

Ruthless Tsuchikage said:


> Lol he says as if the Trump administration would have acted differently. But yeah, I'm on team Reddit, obviously. I just don't particularly buy the argument that an openly corrupt businessman would have sided with reddit over Wallstreet.



Sure

He's down from twitter, so I'm assuming he who unlike Biden (who received massive funds from Wall St) is acting through Trump Jr.


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## Kroczilla (Jan 28, 2021)

Brian said:


>

Reactions: Funny 5


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## Huey Freeman (Jan 28, 2021)



Reactions: Funny 11 | Winner 1


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## Ruthless Tsuchikage (Jan 28, 2021)

Ooof! Savage Cortez   But yeah your colleges trying to have you murdered is probably where you need to start drawing some serious lines.


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## C-Moon (Jan 28, 2021)

Cruz might as well go back to being subhuman; at least he wouldn't be bullshitting anyone.

Reactions: Agree 4


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## Son of Goku (Jan 28, 2021)



Reactions: Funny 1


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## Reznor (Jan 28, 2021)

Funny how I hear some people wanting to dig into personal lives of the redditors to find moral failings as a deflection considering how many of them we learned were on Epstein's Island.

Reactions: Like 2


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## Mider T (Jan 28, 2021)



Reactions: Like 4


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## ~Gesy~ (Jan 28, 2021)

Yay! Now I can become a billionaire!


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## Son of Goku (Jan 28, 2021)




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## Pilaf (Jan 28, 2021)



Reactions: Like 4


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## BlueDemon (Jan 28, 2021)

Damn we're seeing history in the making. Spent like half my evening following this now

Reactions: Agree 3 | Winner 1


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## Reznor (Jan 28, 2021)

Hilarious to see AOC Ted Cruz and Elon Musk all on the same train. It's like a comic book crossover where Victoria Newman and Tony Stark and the Zodiac Killer all team up

Reactions: Funny 13


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## makeoutparadise (Jan 28, 2021)

Come one poor people, it's easy to get rich if you know how the stock market works." 

"Wait no not like that."

Reactions: Like 2 | Agree 1 | Funny 2


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## makeoutparadise (Jan 28, 2021)

Robin hood out here automatically selling people’s shares for their own good


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## dergeist (Jan 28, 2021)

makeoutparadise said:


> Robin hood out here automatically selling people’s shares for their own good



The lawsuits will be out of the roof.

OT: this is the polite way of saying we shafted you


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## Pilaf (Jan 28, 2021)

Holy shit this blew up. This is like the biggest news story right now.


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## Sloan (Jan 28, 2021)

dergeist said:


> The lawsuits will be out of the roof.
> 
> OT: this is the polite way of saying we shafted you


One of my 3-4 options LoL.


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## dergeist (Jan 28, 2021)

Sloan said:


> One of my 3-4 options LoL.



Brokerages limit trading in GameStop, sparking outcry; lawsuit filed​
Robinhood and other retail brokerages are taking steps to tamp down the speculative frenzy surrounding companies such as GameStop, but the actions only sparked more volatility in the market and an outcry from users of the platforms and some members of Congress who say small investors are being treated unfairly.

GameStop stock has rocketed from below $20 earlier this month to close around $350 Wednesday as a volunteer army of investors on social media challenged big institutions who had placed market bets that the stock would fall.

The action was even wilder Thursday: The stock swung between $112 and $483. It was down 28% at $250 in afternoon trading.


Robinhood said Thursday that investors would only be able to sell their positions and not open new ones in some cases. Robinhood will also require investors to put up more of their own money for certain trades instead of using borrowed funds.


Besides GameStop, Robinhood said trading in stocks such as AMC Entertainment, Bed Bath & Beyond, Blackberry, Nokia, Express Inc., Koss Corp., American Airlines, Tootsie Roll, Trivago and Naked Brand Group would be affected by the new restrictions.


Interactive Brokers also limited options trading in AMC, BlackBerry, Express, GameStop and Koss. Clients can close out positions, but not buy more options, a move the company said was due to extraordinary volatility in the markets. It also tightened margin requirements indefinitely on “short stock positions.”


Charles Schwab and TD Ameritrade took similar steps to restrict trading on their platforms Wednesday.


The frenzy surrounding shares of GameStop, AMC and others has drawn in an influx of investors with little or no experience trading stocks. That poses a challenge for brokerages that cater to small investors, said Andy Nybo, managing director at Burton-Taylor International Consulting.


“The brokers were forced to take action because they would be in the firing line if an unsophisticated investor loses money,” he said.


Robinhood’s stated goal is to “democratize” investing and to bring more regular people into investing. The company has forced huge, ground-shaking changes for the brokerage industry, such as its decision to charge zero commissions for customers trading stocks and exchange-traded funds. That’s why some users took Thursday’s actions as an affront.

At least one lawsuit was filed Thursday in U.S. District Court in New York claiming Robinhood manipulated the market by restricting investors’ access to trading GameStop.


Robinhood investor Carlos Amaya said the app’s action Thursday was a disappointment to users like him who prided themselves on being a “different breed of investors.”


The 28-year-old school operations manager in Washington, D.C., said his parents immigrated from El Salvador and he was the first person in his family to buy stocks when he started using the app in 2017. He’s since made several thousand dollars.


“We pride ourselves in the name Robinhood because we’re trying to make more money and be the next people at the top,” he said. “You would expect Robinhood to let us do our thing instead of blocking us and saying it’s for our protection.”


Ziad Cohen, another Robinhood user, said he’ll ditch the trading portal once he sells his GameStop shares. He bought 85 shares last week, and says he is ahead by $20,000, even with the stock’s decline Thursday. The 19-year-old college student from Los Angeles plans to use that money to pay rent and his student loans.


“I feel pretty good about it,” Cohen said.

Investors upset over the trading portals’ restrictions are getting some sympathy from some members of Congress.


Rep. Alexandria Ocasio-Cortez, D-N,Y., called Robinhood’s actions “unacceptable,” noting that as a member of the House Financial Services Committee, she’d support a hearing, if necessary, to explore why the online brokerage is blocking small investors from buying stocks while hedge funds “are freely able to trade the stock as they see fit.”


Kalen Holliday, a spokeswoman for Interactive Brokers, said the company’s restrictions apply bot to individual and institutional investor accounts.


Democratic Rep. Ro Khanna, whose California district sits in Big Tech’s Silicon Valley, said the GameStop episode “has demonstrated the power of technology to democratize access to American financial institutions, ultimately giving far more people a say in our economic structures.”


In a statement Thursday, Khana called for “more regulation and equality in the markets,” and accused Wall Street of spending billions to “crush” GameStop and “put workers out of business” instead of investing in future technology.

The recent surge in GameStop has been the product of a tug-of-war between small investors and some big institutions. Citron Research and Melvin Capital had placed bets that GameStop shares would fall as the company tries to transform itself from a bricks and mortar retailer to a seller of online video games.


But smaller investors rallied to the stock. By sending GameStop shares soaring higher, they forced the big players to cover their bets by buying the stock, increasing the price even further. But there is some concern that small investors could face significant losses when and if stocks like GameStop plummet.


The Securities and Exchange Commission said Wednesday that it is monitoring the stock and options markets. Protecting investors is one of the jobs of the SEC, but it’s not clear what the agency can do in a case like GameStop, said Chester Spatt, a former chief economist at the SEC and a finance professor at Carnegie Mellon University.


Smaller investors are using Reddit and other discussion boards to encourage each other to buy GameStop, but that may not be much different than big investment houses giving their brokers marching orders each morning on which stocks to try to push that day, he said.

“There’s not necessarily the obvious coordination here that one thinks of in a case of manipulation,” Spatt said. “But regulators may view this as a mechanism for manipulation.”


Regardless, Spatt said regulators will likely feel pressure to look at it deeply. “At some point, things shooting up in these kinds of ways are going to come crashing down,” he said. “People are going to be crying out, ‘Where were you, and why didn’t you protect these investors?’”


Robinhood itself has been the target of regulators, settling charges late last year of not getting the best prices for investors trading on its app and that it didn’t fully disclose the risks involved in trading stocks and options.

“There’s not necessarily the obvious coordination here that one thinks of in a case of manipulation,” Spatt said. “But regulators may view this as a mechanism for manipulation.”


Regardless, Spatt said regulators will likely feel pressure to look at it deeply. “At some point, things shooting up in these kinds of ways are going to come crashing down,” he said. “People are going to be crying out, ‘Where were you, and why didn’t you protect these investors?’”


Robinhood itself has been the target of regulators, settling charges late last year of not getting the best prices for investors trading on its app and that it didn’t fully disclose the risks involved in trading stocks and options.





I had to requote this part



> “The brokers were forced to take action because they would be in the firing line if an unsophisticated investor loses money,” he said.



Since when have brokers gotten in trouble for the retail investor losing money, unless they were pushing the product on them. When one opens an account they trade at their own risk, you've got to love the whitewashing of market manipulation

Reactions: Like 1


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## Orochibuto (Jan 28, 2021)

Breadman said:


> My fear is the retaliation that might come from this. It's gonna be pretty blatant if they try to advocate for laws that restrict only the small retail buyers who aren't big corp, and big wigs in the stock market aren't exactly what I'd call ethical people who play by the rules in order to stay on top.



If they do that, then the corruption will become more blatant and this is how revolutions are made. When the guys in power take off their mask and become overt, this is when people rise.

Also apparently there is a kind of bipartisan support for this.


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## Son of Goku (Jan 28, 2021)

LOL

Reactions: Funny 2 | Useful 1


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## Sloan (Jan 28, 2021)

dergeist said:


> Since when have brokers gotten in trouble for the retail investor losing money, unless they were pushing the product on them. When one opens an account they trade at their own risk, you've got to love the whitewashing of market manipulation


Big Fax No Cap.  Pure Dumb.

Reactions: Like 1


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## reiatsuflow (Jan 28, 2021)

Reznor said:


> Hilarious to see AOC Ted Cruz and Elon Musk all on the same train. It's like a comic book crossover where Victoria Newman and Tony Stark and the Zodiac Killer all team up



The maga places seem just as excited about this as bernie's people


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## stream (Jan 28, 2021)

Apparently, there's a lot of people who never intended to buy who are now buying out of anger against the brokers blocking the stocks. And I wouldn't be surprised if there are people who have never shorted a stock who are now shorting GME because they think it's going to calm down. It's like there was a high school football match, the ref made a bad call, and now millions of people are pouring into the field to join the fight.


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## Pilaf (Jan 28, 2021)

Tough luck, billionaires. Maybe if you skop that second coffee every day and learn to code you'll make your money back.

Reactions: Funny 2


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## Mider T (Jan 28, 2021)

Pilaf said:


> skop


You high on caffeine bro?


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## Orochibuto (Jan 28, 2021)

stream said:


> Apparently, there's a lot of people who never intended to buy who are now buying out of anger against the brokers blocking the stocks. And I wouldn't be surprised if there are people who have never shorted a stock who are now shorting GME because they think it's going to calm down. It's like there was a high school football match, the ref made a bad call, and now millions of people are pouring into the field to join the fight.



How can you buy if the brokers dont let you buy?


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## xenos5 (Jan 28, 2021)

Orochibuto said:


> How can you buy if the brokers dont let you buy?


WeBull is letting them buy again if you look at the tweet MiderT posted from the company's twitter.


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## ~Gesy~ (Jan 28, 2021)



Reactions: Funny 4


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## stream (Jan 28, 2021)

Orochibuto said:


> How can you buy if the brokers don't let you buy?


There are still brokers who let you buy. And now Robinhood have said they would let people buy tomorrow... It's gonna be a very interesting day. There are already multiple lawsuits, and politicians are getting involved.


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## Ruthless Tsuchikage (Jan 28, 2021)

dergeist said:


> Sure


The idea of an openly corrupt businessman going to bat for the common man likely would be more deserving of a tinfoil hat.

Reactions: Agree 1


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## Gin (Jan 28, 2021)

when maga guys use an alex jones emote to mock dems

Reactions: Funny 3


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## Huey Freeman (Jan 28, 2021)



Reactions: Agree 1 | Funny 11 | Winner 1


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## JJ Baloney (Jan 28, 2021)

Doge Coin is reaching new heights!

Reactions: Like 2 | Funny 1


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## Subarashii (Jan 28, 2021)

Cardboard Tube Knight said:


> Yes, please let AMC die a quick death. The time of having to go to a gross movie theater and paying 10$ for Popcorn is dead.


Duck you I enjoyed the movie going experience! 
I will settle for drive ins tho


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## Subarashii (Jan 28, 2021)

dergeist said:


> NASDAQ temporarily shuts down stock trading after internet trolls destroy hedge fund with GameStop stock​
> 
> The NASDAQ has paused trading after internet “degenerates” spotted Wall Street gearing up to make a killing, beat the traders at their own game, and got filthy rich while destroying the US’ top hedge funds. Buckle up.
> 
> ...


Urge to kill more hedge funds rising!

Reactions: Like 1


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## Juan (Jan 28, 2021)

can't wait till my kid in 2045 is taking his sats and one of the questions is

"in 2021 __ showed the world how willing the rich were to destroy everyone else in their attempt to keep the poor poor

a) jesus' botched return
b) the kardashians
c) elon musk
d) GAMERS"

Reactions: Funny 3


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## Subarashii (Jan 28, 2021)

Wrecked Baloney said:


> Doge Coin is reaching new heights!


Good I just bought like 1000 shares for 5 bucks  I'm about to make .005 cents

Reactions: Like 2


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## Subarashii (Jan 28, 2021)

Juan said:


> can't wait till my kid in 2045 is taking his sats and one of the questions is
> 
> "in 2021 __ showed the world how willing the rich were to destroy everyone else in their attempt to keep the poor poor
> 
> ...


Are redditors all gamers? This was the wsb sections


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## Cardboard Tube Knight (Jan 28, 2021)

Subarashii said:


> Duck you I enjoyed the movie going experience!
> I will settle for drive ins tho


Alamo drafthouse is a way better experience

Reactions: Like 1 | Agree 1


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## Junta1987 (Jan 28, 2021)

Karma is a bitch. I hope those Redditors will get as much money as possible from those disgusting wall street speculators

Reactions: Agree 3


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## Juan (Jan 28, 2021)

Subarashii said:


> Are redditors all gamers? This was the wsb sections


look bro i don't know i stole the joke from twitter

Reactions: Funny 4


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## makeoutparadise (Jan 28, 2021)



Reactions: Funny 2


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## Aduro (Jan 28, 2021)

Reznor said:


> Hilarious to see AOC Ted Cruz and Elon Musk all on the same train. It's like a comic book crossover where Victoria Newman and Tony Stark and the Zodiac Killer all team up


None of them are all that surprising on their own.

Cruz will say anything if he thinks it'll make people like him, especially young voters. ATM he's probably trying anything to be re-admitted to the human race.

Musk loves to try and look counter-cultural. That or he's in a constant mid-life crisis. Although he is a real nerd, so he might by sympathetic/nostalgic towards Game Stop.

Tweeting about this is very on-brand for Cortez. She might genuinely be against the hedge funds here. But AOC is also damned good at viral marketing. And she's positioned herself as the adult in the room while respecting people that you'd expect politcians to belittle.

Reactions: Like 2


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## Kingslayer (Jan 28, 2021)

Aduro said:


> None of them are all that surprising on their own.
> 
> Cruz will say anything if he thinks it'll make people like him, especially young voters. ATM he's probably trying anything to be re-admitted to the human race.
> 
> ...


Musk is an  anti establishment  guy himself , look at his companies  and he put humanity first over wealth . I wish more CEO acts like him instead of pandering to investors and Establishment leaders.

Reactions: Optimistic 1


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## Karma (Jan 28, 2021)

Lmao this is the best example of retard strength ive ever seen

Reactions: Funny 1


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## Kingslayer (Jan 28, 2021)

Guys like zuck, Bezos wants to kill small business and retail industry.

Reactions: Agree 1


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## Karma (Jan 28, 2021)

Gamers unironically rose up


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## Parallax (Jan 28, 2021)

Dark Shadow said:


> Musk is an  anti establishment  guy himself , look at his companies  and he put humanity first over wealth . I wish more CEO acts like him instead of pandering to investors and Establishment leaders.


Iono how anti establishment you are when you get a ton of subsidies and tax breaks

Reactions: Agree 2 | Funny 1


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## makeoutparadise (Jan 28, 2021)



Reactions: Funny 3 | Winner 2


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## ClandestineSchemer (Jan 28, 2021)

Dark Shadow said:


> Musk is an  anti establishment  guy himself , look at his companies  and he put humanity first over wealth . I wish more CEO acts like him instead of pandering to investors and Establishment leaders.





Parallax said:


> Iono how anti establishment you are when you get a ton of subsidies and tax breaks



Musk is reacting because it's personal to him.
He hates those who short stocks, because they have been wanting  to short Tesla for an eternity now.
Which if successful, would directly decrease his own net worth.

Reactions: Like 2 | Agree 2


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## reiatsuflow (Jan 28, 2021)

~Gesy~ said:


> Not so fast!







everybody's fighting again


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## Kingslayer (Jan 28, 2021)

ClandestineSchemer said:


> Musk is reacting because it's personal to him.
> He hates those who short stocks, because they have been wanting  to short Tesla for an eternity now.
> Which if successful, would directly decrease his own net worth.


You analysed it well. What i meant to say is he does not bow to investor fear or something like that  he is  self made man.

Even if he loses everything he can go back design and sell his stuff .

Reactions: Agree 1


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## Mider T (Jan 28, 2021)

TMZ: Jordan Belfort Advises WallStreetBets Investors to Back Good Companies.

Reactions: Like 2


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## Mider T (Jan 28, 2021)

'Absolutely': Elon Musk backs AOC's call to hold hearings on Robinhood barring GameStop purchases
					

In a brief tweet, Elon Musk signaled his support for a House Financial Services hearing on Robinhood's decision to halt trading on certain stocks.




					www.businessinsider.com

Reactions: Like 2


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## makeoutparadise (Jan 28, 2021)



Reactions: Funny 12


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## Mider T (Jan 28, 2021)



Reactions: Like 1


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## dergeist (Jan 29, 2021)

Facebook shuts popular Robinhood Stock Traders group amid GameStop frenzy​
Facebook says group, which has 157,000 members, was taken down for allegedly violating policies unrelated to stock price surges

Facebook has taken down the popular Wall Street discussion group, Robinhood Stock Traders, in a move that its founder described as backlash for conversations buoying shares of GameStop Corp and other companies this week.

GameStop, AMC Entertainment Holdings Inc and BlackBerry have been at the centre of a market battle as individual investors coordinating on social media including Reddit, and using trading apps such as Robinhood, bought shares and squeezed hedge funds that had bet that those struggling companies would tank.

Allen Tran, a 23-year-old from Chicago who created Robinhood Stock Traders, said he woke up on Wednesday to a notification that Facebook had disabled the 157,000-member group. The notification, seen by Reuters, said without detail that the group violated policies on “adult sexual exploitation”.


“We were first on the picking tree to be cut off because we are on Facebook, not a free platform like Reddit,” said Tran, referring to the typically lighter moderation on the discussion website.

Some of his group’s members made tens of thousands of dollars in recent trades first popularised on Reddit’s WallStreetBets forum, he said.

Tran, who also runs the 20,000-member HaiKhuu Trading group on chat app Discord, said he has never seen adult content on the Facebook group.

Facebook spokeswoman Kristen Morea said, “This group was removed for violating our Community Standards, unrelated to the ongoing stock frenzy.” She did not respond to requests to elaborate.

Tran said institutional investors are trying to separate retail traders.

Facebook suspended his group on 7 January after labelling it a “dangerous organization,” according to correspondence seen by Reuters, though the company reinstated its privileges after he appealed to contacts there.

“With all these major institutions being frustrated with the success of retail, they are trying to target any groups they can,” said Tran, who was featured in a Wall Street Journal article in November and described his Facebook group as the largest of its kind.

Tran expressed concern that a replacement group he formed to carry on discussions also will be taken down.










						Facebook shuts popular Robinhood Stock Traders group amid GameStop frenzy
					

Facebook says group, which has 157,000 members, was taken down for allegedly violating policies unrelated to stock price surges




					www.theguardian.com

Reactions: Like 1


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## dergeist (Jan 29, 2021)

GameStop Shows Rising Power of Retail Traders, Says Reddit Co-Founder​

Reddit Inc. Chief Executive Officer Steve Huffman said on Thursday that the WallStreetBets forum is “by no means perfect but they’ve been well in the bounds of our content policy.”

“With all of our communities that do their best to be good citizens of Reddit, we try to do our best by them as well,” Huffman said on the Clubhouse app. He called the forum’s outsize influence on GameStop Corp. stock a “culture war of Wall Street versus everybody else.”

He said anyone who thinks the users of the forum are “idiots” should spend more time reading the discussions. “It’s this idiot swagger that masks what I think is this charming intelligence,” Huffman said.

The forum’s unprecedented influence on GameStop’s stock shows that markets must adapt to a world where retail investors are gaining some of the power big financial firms have long held, according to Alexis Ohanian, co-founder of the online forum.

“This is something, I think, for a lot of people, that was a statement as much as an investment,” Ohanian, who left Reddit’s board last year, said on Bloomberg Television on Thursday. “I’d equate it to, like, folks voting with their dollars in order to get back at or make a statement towards big finance.”

Read more: GameStop’s Reddit Revolution Echoes Occupy Wall Street Crusade

Robinhood Markets Inc. and other online brokerages curbed trading in GameStop and AMC Entertainment Holdings Inc. on Thursday after users in Reddit’s WallStreetBets forum appeared to send the stocks surging. Ohanian called the move by Robinhood “pretty shocking” and “like the very thing all of these people are railing against.” He called the ensuing criticism of Robinhood “a very justified outrage.”
Robinhood subsequently said it plans to allow limited buying of certain securities that it had blocked from Friday.

Read more: Robinhood Users Are Furious Over Its Stock-Trading Clampdown

Asked about the risk that internet forums can pose as a source of potential financial misinformation or market hype, Ohanian punted, saying the same question exists around political issues. “This is a question for the decade,” he said.










						Reddit CEO Says WallStreetBets ‘Well in Bounds’ of Site’s Policy
					

Reddit Inc. Chief Executive Officer Steve Huffman said on Thursday that the WallStreetBets forum is “by no means perfect but they’ve been well in the bounds of our content policy.”




					www.bloomberg.com
				





Looks like Reddit won't shut them down

Reactions: Like 2


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## Mider T (Jan 29, 2021)



Reactions: Funny 1


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## Kingslayer (Jan 29, 2021)

Cuban should let his kid play outside to early for 11 year old to play with money. Not sure this is really sending positive message though.


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## Mider T (Jan 29, 2021)

Dark Shadow said:


> Cuban should let his kid play outside to early for 11 year old to play with money. Not sure this is really sending positive message though.


Uh what?  Anybody can invest at any age.  The earlier the better honestly, more experience.


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## Kingslayer (Jan 29, 2021)

dergeist said:


> Facebook shuts popular Robinhood Stock Traders group amid GameStop frenzy​
> Facebook says group, which has 157,000 members, was taken down for allegedly violating policies unrelated to stock price surges
> 
> Facebook has taken down the popular Wall Street discussion group, Robinhood Stock Traders, in a move that its founder described as backlash for conversations buoying shares of GameStop Corp and other companies this week.
> ...


Wow just as i predicted Zuckerberg  is totally going dictatorial.

Reactions: Like 1 | Agree 1


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## Kingslayer (Jan 29, 2021)

Mider T said:


> Uh what?  Anybody can invest at any age.  The earlier the better honestly, more experience.


Ya but age of 11 is not healthy . I wont mind if he was 15 or 16 btw.


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## Mider T (Jan 29, 2021)

Dark Shadow said:


> Ya but age of 11 is not healthy . I wont mind if he was 15 or 16 btw.


What's not healthy about it?  That's a good age to learn about the stock market.  I know of quite a few schools that have stock games that students participate in at the beginning of middle school.  This is also the age where young entrepreneurs usually start.


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## dergeist (Jan 29, 2021)

Mider T said:


> What's not healthy about it?  That's a good age to learn about the stock market.  I know of quite a few schools that have stock games that students participate in at the beginning of middle school.  This is also the age where young entrepreneurs usually start.



Yep, Warren Buffet was like 10 or something when he started. It allows one to start learning concepts etc.

Edit: He was also 11.


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## Catamount (Jan 29, 2021)

dergeist said:


> “adult sexual exploitation”.


I am just dead, this reason made my day


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## Kingslayer (Jan 29, 2021)

dergeist said:


> Yep, Warren Buffet was like 10 or something when he started. It allows one to start learning concepts etc.
> 
> Edit: He was also 11.


Not discoraging kids to bet on stock exchange . One needs good guidance or if your parent can advise you then fair enough.

I generally think kids should enjoy schooling life before they can bet on shares .


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## Kingslayer (Jan 29, 2021)

Mider T said:


> What's not healthy about it?  That's a good age to learn about the stock market.  I know of quite a few schools that have stock games that students participate in at the beginning of middle school.  This is also the age where young entrepreneurs usually start.



We dont have one in our country maybe its in your city so i dont know how schooling life is in US but in Spain  schools are restricted to theortical teachings we dont learn finance untill high school .


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## Le Mâle-Pensant (Jan 29, 2021)



Reactions: Funny 2


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## Ruthless Tsuchikage (Jan 29, 2021)

This good enough?


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## Ruthless Tsuchikage (Jan 29, 2021)

MrPopo said:


> I never knew @RemChu was a Trump supporter


No I don't quite think that's it.

Firstly because of the obvious reason that those that get annoyed enough over shady stock practices to take action are statistically not likely to be Trump supporters. Trump supporters have lionized corruption for years now.

But I also think its to simplified they are simple annoyed or even angry with the elites. That's certainly part of it. In fact populism views everything as a death battle between one pure, united and holy people and an eternally evil bunch of nebulously defined elites. These people don't want to ''annoy'' the elites but destroy them entirely.

But its exactly this nebulous definition of elites that ensure that populists aren't exactly anti elites in their entirety. In fact with Trump they colluded with the elites rather than opposing them, putting an elite in power, who gave cabinet positions to the elites to enact an agenda beneficial to the elites. At its most anti elite Trump was merely the attempt to replace the political elite with the business elite. Remember that when interviewed Trumpsters often said Trump being a businessmen was a positive and that America should be run as a business. Ergo, their distaste is primarily for the political elite and not so much the financial elite which stockbrokers are a part of. And its not much different in other places. Brexit is the baby of the Tory party, hardly a friend of the working class and in many populist parties enact a right wing platform that benefits big business over the little guy.

Some of those populist voters are merely duped into voting against their own best interest. But others know what they are doing. Rather than being opposed to the elite as a whole they seek to replace the elite with one more in line with their own thinking. Still rich, old and out of touch white men but rich, old and out of touch white men who are emotional and ''macho'' rather than technocratic, who wish to pursue an isolationist course rather than a global one, and who value tradition over progress.

Reactions: Optimistic 1


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## Huey Freeman (Jan 29, 2021)



Reactions: Funny 6 | Winner 5


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## Mider T (Jan 29, 2021)

Dark Shadow said:


> We dont have one in our country maybe its in your city so i dont know how schooling life is in US but in Spain  schools are restricted to theortical teachings we dont learn finance untill high school .


A shame, because this is a useful life skill.

Reactions: Friendly 2


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## Huey Freeman (Jan 29, 2021)



Reactions: Funny 8


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## Subarashii (Jan 29, 2021)

dergeist said:


> Facebook shuts popular Robinhood Stock Traders group amid GameStop frenzy​
> Facebook says group, which has 157,000 members, was taken down for allegedly violating policies unrelated to stock price surges
> 
> Facebook has taken down the popular Wall Street discussion group, Robinhood Stock Traders, in a move that its founder described as backlash for conversations buoying shares of GameStop Corp and other companies this week.
> ...


New FB is called "ROBINHOOD TRADERS" with some emojis after it, fyi lol


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## Subarashii (Jan 29, 2021)

dergeist said:


> GameStop Shows Rising Power of Retail Traders, Says Reddit Co-Founder​
> 
> Reddit Inc. Chief Executive Officer Steve Huffman said on Thursday that the WallStreetBets forum is “by no means perfect but they’ve been well in the bounds of our content policy.”
> 
> ...


I suppose this is our best way to "Eat the Rich"

Reactions: Like 2


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## Pliskin (Jan 29, 2021)

While I am loving every minute of it, the people joining this late are essentially joining a pyramid scheme, so if you want to make a statement, all support to you, but caveat emptor.

Reactions: Like 1


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## Subarashii (Jan 29, 2021)

Pliskin said:


> While I am oving every minute of it, the people joining this late are essentially joining a pyramid scheme, so if you want to make a statement, all support to you, but caveat emptor.


Like I'm gonna buy inflated gme stock. That ship has sailed, sadly. Lookin for the next best thing tho

Reactions: Like 1 | Agree 2


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## Orochibuto (Jan 29, 2021)

Pliskin said:


> While I am loving every minute of it, the people joining this late are essentially joining a pyramid scheme, so if you want to make a statement, all support to you, but caveat emptor.



People buying it at this point are doing it to fuck hedge funds, not really to make money, or at least they should. Buying shares in GME is like paying for giving hedges a bitchslap.

Reactions: Agree 2


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## dergeist (Jan 29, 2021)

Orochibuto said:


> People buying it at this point are doing it to fuck hedge funds, not really to make money, or at least they should. Buying shares in GME is like paying for giving hedges a bitchslap.



The same way the hedge funds, borrowed around 30% of the float and sold it over and over around 5 times what they borrowed, which went close to 140% of the company value. They forced the price down from $20 go around $4. They tried to bankrupt a business which employs 14,000. And on top of that the crashing price would've made borrowing to not go bankrupt nigh impossible. Then a vulture would've swept in and picked it up for cents, asset stripped the company.

The WSB guys are doing the right thing, since short squeezes mean, the hedge funds will need to cover it and have to buy back the stocks, the options companies will have to do the same to cover the call options, and if nobody sells, then the squeeze will force the price up and up. Currently the loses on one side are around $70 billion and that has been transferred to the masses, they may get over $100 billion. So yeah the more the average person piles in it forces the hedge funds to go even higher.

This is why I love the free market, we saw it doing it's thing over the last few days 

What pjssed me off was a few Democrats started yapping about a wealth tax/transaction tax, which doesn't benefit the average person making them pay that which they could invest.


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## Wolfgang Grimmer (Jan 29, 2021)

Pliskin said:


> While I am loving every minute of it, the people joining this late are essentially joining a pyramid scheme, so if you want to make a statement, all support to you, but caveat emptor.


mfers are buying at the top to encourage ppl to hold just to spite the hedge fund assholes


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## dergeist (Jan 29, 2021)

SEC reviewing volatility amid GameStop frenzy, vows to protect retail investors​


The SEC said it is reviewing recent trading volatility that has led to a meteoric rise in GameStop and AMC Entertainment.
The SEC vowed to to protect traders and promised to scrutinize actions taken by brokerages that may “unduly inhibit their ability to trade certain securities.”
“We will act to protect retail investors when the facts demonstrate abusive or manipulative trading activity,” the SEC said in a release.

The Securities and Exchange Commission said Friday it will work to protect investors by reviewing the recent trading volatility that has fueled a meteoric rise in stocks like GameStop and AMC Entertainment.

In a statement, the nation’s top financial regulator vowed to protect individual traders and to scrutinize actions taken by brokerages that may “disadvantage investors or otherwise unduly inhibit their ability to trade certain securities.”

“We will act to protect retail investors when the facts demonstrate abusive or manipulative trading activity that is prohibited by the federal securities laws,” the SEC said.

“The Commission is working closely with our regulatory partners, both across the government and at FINRA and other self-regulatory organizations, including the stock exchanges, to ensure that regulated entities uphold their obligations to protect investors and to identify and pursue potential wrongdoing.”

The statement came as heavily shorted, high-flying equities . Video game retailer GameStop, theater operator AMC and headphone maker Koss rallied 50%, 53% and 43%, respectively.

The SEC’s pledge to clamp down on brokerages that may have “unduly” limited customers’ ability to trade likely comes as good news to members of WallStreetBets Reddit and other retail traders who helped spark the rally.

By buying the heavily shorted equities or their call options, retail investors have forced investors betting against the stock, known as short sellers, to cover their positions by buying back shares in an effort prevent further losses.

When this happen en masse, it is called a “short squeeze” and can lead to a dramatic, volatile rise in a stock’s price.

Many individual traders took to Twitter and other social media platforms on Thursday to protest  to certain stocks at the center of the controversy. The heavy trading volumes put pressure on online brokerages like Robinhood, which are required to pay customers cash when they close a position. The brokerages also needed additional cash to supply their clearing facility with additional capital to protect trading partners from outsized losses.

Robinhood later said it would allow limited buying in the GameStop and other volatile stocks on Friday.

For the week,  is up 420%,  is up 1,800% and  is up 280%.

The violent swings in such stocks, as well as Robinhood’s decision to restrict trading, has drawn the ire of politicians on both sides of the political aisle.

Sen. Elizabeth Warren told CNBC on Thursday that  for the dayslong blitz of market speculation.

“We need an SEC that has clear rules about market manipulation and then has the backbone to get in and enforce those rules,” the Massachusetts Democrat said. “To have a healthy stock market, you’ve got to have a cop on the beat.”

“That should be the SEC,” she added. “They need to step up and do their job.”

Rep. Patrick McHenry of North Carolina, the ranking Republican on the House Financial Services Committee, said Friday he is worried about unequal access to the capital markets.

I want “to ensure that we’re not cutting people off from additional access to markets and therefore leaving them to activities like we’ve seen with GameStop and a few other tradable securities,” he said on “.”

“What I’m seeing here is this larger case, which is: Average, everyday investors are cut off from the access that insiders like C-suite members of companies, and hedge funds and private equity naturally get,” he added. “And that the credit-investor standard has bifurcated our markets into a highly prosperous lie.”




On the surface of it this seems good, but it could be potentially bad news. If the brokers are fined, fines are limited and they get away with it. Iirc, lawsuits don't hold any merit if the regulator fines them. That means they could save billions in payouts, which they otherwise would have to make if they lose a class action lawsuits. 

So if RH and brokers didn't manipulate the market, the hedge funds and options brokers would have unlimited liability. If they file law suits, the liability could be in the 10s of billions, and if the SEC takes action then maybe a fine that doesn't benefit the little guy/gal.


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## Kingslayer (Jan 29, 2021)

Mider T said:


> A shame, because this is a useful life skill.


It is but people here dont care much about money. Tourism brings up huge revenue especially in Catalonia where i stay.

Reactions: Like 1


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## Alwaysmind (Jan 29, 2021)

Man, how many of you got stocks for your 8th birthday?


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## blk (Jan 29, 2021)

People in latin-european countries (like Spain, Italy, Greece) are much more oriented towards real estate than stocks tbf (way more than the anglosphere).

Stock market is seen as not much different than gambling by the general public.

And from a certain point of view i understand the sentiment, especially after events such as these.... makes you think how much REAL substance there actually is in stock prices and how much is just fake smoke and mirrors. 
That could disappear in a day if the emotional state of the masses changes.

While by owning real estate at least you have something concrete that won't disappear, no matter what people feel.

Reactions: Agree 1


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## dergeist (Jan 29, 2021)

blk said:


> People in latin-european countries (like Spain, Italy, Greece) are much more oriented towards real estate than stocks tbf (way more than the anglosphere).



It's the same in the UK, tbh, the average person prefers property. The brokers here used to charge ridiculous fees, like £12, unless you're putting in £1200 which would mean you paid 1%, then you have the 0.05% stamp duty and the spread to consider. You would start around 1.75%-3% down before the market movements kick in, so it would put people off. And people don't usually have that kind of money lying around to do that with it. That is outside of the monthly account fees, brokers charge. It wasn't as accessible for the average person, until brokers like trading 212 entered the market. No fees, fractional shares and access to many of the major markets. That pushed more people towards stock and they could even invest anything little and build up over time, average into a stock etc without the massive overheads. That had been a game changer + the ridiculously high property prices squeezing people out of the property markets. Where do they go, except to stocks and shares?

It seems to be the trend amongst the majority, the minority communities are still fairly conservative, a rare few engage in stocks, the rest in properties. That is if they choose to invest.

Reactions: Like 1 | Informative 1


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## Pilaf (Jan 29, 2021)

Alwaysmind said:


> Man, how many of you got stocks for your 8th birthday?


*raises hand*

I bought myself some today, too.

Thousands of shares of AMC.

Reactions: Like 5 | Winner 1


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## Huey Freeman (Jan 29, 2021)

I’d image the average Joe who had minor shares prior to this storm must have came out this with biggest boner


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## Sloan (Jan 29, 2021)

Pilaf said:


> *raises hand*
> 
> I bought myself some today, too.
> 
> Thousands of shares of AMC.


Gang


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## Pilaf (Jan 29, 2021)

See you guys in an AMC theater and a Gamestop on the fucking moon.

Reactions: Winner 2


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## Drake (Jan 29, 2021)

Bought the dip yesterday 

I don't even care about the money... At this point I'm just curious to see how far this can go, and what the inevitable fallout will be both for Wall Street and the average people who have no clue what they are doing and are either going to sell too early or too late.

Reactions: Like 2


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## Sloan (Jan 29, 2021)

Drake said:


> Bought the dip yesterday
> 
> I don't even care about the money... At this point I'm just curious to see how far this can go, and what the inevitable fallout will be both for Wall Street and the* average people who have no clue what they are doing and are either going to sell too early or too late.*


Yea... only invest what you're comfortable losing.  I've seen comments on the Subreddit or the Discord like "Hey can someone explain stocks to me?  Should I buy GME?" and some of these same people are throwing their life savings/majority of their money into this and probably won't know when to sell or what even anything means :x

Reactions: Funny 1


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## dergeist (Jan 29, 2021)

Google salvaged Robinhood’s one-star rating by deleting nearly 100,000 negative reviews​

Even Google be involved in app promotion manipulation, not that I'm surprised. Imagine removing legitimate reviews from disgruntled users.

Reactions: Like 2


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## Son of Goku (Jan 29, 2021)

"Russia" really became the universal go to smear. Russiaphobia is running rampant.


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## dergeist (Jan 29, 2021)

Son of Goku said:


> "Russia" really became the universal go to smear. Russiaphobia is running rampant.



I don't think anybody, but a certain member believes that. Imagine trying to make the hedge funds seem like patriots

Reactions: Like 1


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## Pilaf (Jan 29, 2021)

Wasn't he that fat bulldyke from the Man Show? Can't hear him over the rocket boosters.


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## GRIMMM (Jan 29, 2021)

Son of Goku said:


> "Russia" really became the universal go to smear. Russiaphobia is running rampant.


This is retarded.

Reactions: Like 1 | Agree 1


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## stream (Jan 29, 2021)

To be honest, I think the frenzy is largely over. After the brokers blocked the stocks yesterday, today was the day where it was possible to get a lot of angry retailers and get enough momentum to go even higher and start hurting the hedge funds again. But at best, the stocks got back to the level of Wednesday, if even that, and they remained stable afterwards. I don't see it taking off again.


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## Dragon D. Luffy (Jan 29, 2021)

So yesterday a group of Brazilians on Telegram attempted to do the same with a company called IRB.

I went and put some money in it to see if I could ride the wave early. At that point the share had risen 15%. But then it just never went up from there. After a whole day of nothingness, I sold the share at a very small loss and called it a day. Turns out there are a lot less people in brazilian stock market compared to USA which makes this much harder, and they didn't make a very good choice of a company since the one they picked was somewhat popular to begin with.

Now today, the stock market decided to put IRB's share in auction, which means the share value is not updated in real time. Basically siding with the billionaires to prevent them from getting the same treatment American hedge funds got. The share value spent the whole day in a slow decline.

Fuck the rich tbh.

Reactions: Like 1


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## Pilaf (Jan 29, 2021)




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## Mider T (Jan 29, 2021)

Son of Goku said:


> "Russia" really became the universal go to smear. Russiaphobia is running rampant.


Of course it bothers you when you use them to apply your lipstick every morning.

Reactions: Like 1


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## Rasendori (Jan 29, 2021)

AMC team Diamond Hands 4dawin!!!


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## Magic (Jan 29, 2021)

explain this to me?


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## Mider T (Jan 29, 2021)

Salt Lake Tribune

Reactions: Like 1 | Funny 1


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## Reznor (Jan 29, 2021)

Son of Goku said:


> "Russia" really became the universal go to smear. Russiaphobia is running rampant.


Not gonna figure which side these people took when this is over.


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## Altace (Jan 30, 2021)

The aftermath is going to be amazing to witness.


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## ~Gesy~ (Jan 30, 2021)

Dark Shadow said:


> It is but people here dont care much about money. Tourism brings up huge revenue especially in Catalonia where i stay.


Yeah, I guess that's where our countries differ. There's nothing more American than making money.

Reactions: Agree 1


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## SakuraLover16 (Jan 30, 2021)

Wait I am a dependent will I have to pay taxes on the stocks if I buy some?


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## SakuraLover16 (Jan 30, 2021)

Probably not....


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## Parallax (Jan 30, 2021)

SakuraLover16 said:


> Wait I am a dependent will I have to pay taxes on the stocks if I buy some?


i believe stocks are consider assets so if you got a good accountant you'll be fine

Reactions: Informative 1


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## Joe Maiafication (Jan 30, 2021)

I just find it funny no mention of "Joe Biden" anywhere.

If Donald Trump is still president, the media will quickly do their "magic" to vilify him and associate him with this issue for whatever reason.

Reactions: Like 1


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## Son of Goku (Jan 30, 2021)

Son of Goku said:


> "Russia" really became the universal go to smear. Russiaphobia is running rampant.


Case in point:


Mider T said:


> Of course it bothers you when you use them to apply your lipstick every morning.


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## Mider T (Jan 30, 2021)

Son of Goku said:


> Case in point:


And nobody here is fooled by you, that's why you still have no retort.


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## Mider T (Jan 30, 2021)

Son of Goku said:


> Case in point:











						Russian anti-Putin anger spreads: 'We have to protest'
					

Russia is seeing some of the biggest demonstrations for a decade over the imprisonment of Alexei Navalny.



					www.bbc.com


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## Son of Goku (Jan 30, 2021)

Mider T said:


> And nobody here is fooled by you, that's why you still have no retort.


You're patheticness needs no retort from me. You're doing fine on your own.


Mider T said:


> Russian anti-Putin anger spreads: 'We have to protest'
> 
> 
> Russia is seeing some of the biggest demonstrations for a decade over the imprisonment of Alexei Navalny.
> ...


Oh we're going off-topic? Alright.


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## MrPopo (Jan 30, 2021)

RemChu said:


> explain this to me?


It's deepfuckingValue the guy that orginal started with GME and made 50 milly


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## Pilaf (Jan 30, 2021)



Reactions: Funny 1 | Winner 1


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## blk (Jan 30, 2021)

SakuraLover16 said:


> Wait I am a dependent will I have to pay taxes on the stocks if I buy some?



Don't know how it works in the US but i assume you'll have to pay taxes on the capital gains when you sell or on the dividends.

The tax is either taken care of by your broker on your behalf, or you'll have to pay it.

If you use a broker outside of your country you'll have to pay them by yourself most likely (unless you have an accountant that does it for you).

So that's something you have to find out.


Btw for what it's worth i would advise against going into the market to buy meme stocks....


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## Pliskin (Jan 30, 2021)

Sooo whats the over-under rn. Seems news has slowed, is the class action lawsuit actually following through?

Unrelated point:


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## Garcher (Jan 30, 2021)

Pliskin said:


> Sooo whats the over-under rn. Seems news has slowed, is the class action lawsuit actually following through?
> 
> Unrelated point:


it has to be this way. otherwise VENEZUELA


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## Le Mâle-Pensant (Jan 30, 2021)

I can’t believe. This image.

Reactions: Funny 8


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## MrPopo (Jan 30, 2021)

Le Male Absolu said:


> I can’t believe. This image.


Shit posts making national news, what a time to be alive

Reactions: Funny 3


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## Reznor (Jan 30, 2021)

Joe Maya said:


> I just find it funny no mention of "Joe Biden" anywhere.
> 
> If Donald Trump is still president, the media will quickly do their "magic" to vilify him and associate him with this issue for whatever reason.


I agree that the media is letting Biden be pretty silent about this, but the answer is that we should be holding Biden accountable also, not that we shouldn't have been holding Trump accountable.  Don't be trying to slip in a "Trump did nothing wrong" lmao

Reactions: Agree 1 | Winner 2


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## Toph (Jan 30, 2021)

Wall Street was happy to have taxpayers bail them out when they helped crash the Working Class' economy in 2008, but the moment the hedge fund billionaires start losing money because a bunch of of Redditors banded together to save GameStop, they're trying to halt trading. Funny.

On another note, this feels like a culmination of all the Millennial and Zoomer anger against the establishment. GameStop brings back so many childhood memories, as does the 2008 Housing Crisis and Occupy Wall Street. So it's such a strange high watching virtually everyone, from Left to Right, excited at the prospect of some Redditors fucking up Wall Street.

Is this the unity that Biden talked so much about?

Reactions: Like 3


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## muchentuchen (Jan 30, 2021)

This is an inside job to make the average joe distrust investment apps and websites. If you wanna invest, wallstreet is your friend.


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## dergeist (Jan 30, 2021)

blk said:


> Don't know how it works in the US but i assume you'll have to pay taxes on the capital gains when you sell or on the dividends.
> 
> The tax is either taken care of by your broker on your behalf, or you'll have to pay it.
> 
> ...



Self assessment and write offs in the US.

OT: Short interest in Gamestonk is still hovering around 120% and with only a small pool of available shares to buy back and sell, if the people hold the price will keep going up. To lower it the hedge funds will need to keep borrowing and selling shares (from the same pool of 30-50% which is being brought up over and over) compounding the short stake to ridiculous levels, which means the pump will be just as parabolic


AMC has a short stake of around 80% and the same applies to it.

Things are going to get nasty come Monday, I might buy some AMC

Reactions: Winner 1 | Informative 1


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## Joe Maiafication (Jan 30, 2021)

Horo said:


> Wall Street was happy to have taxpayers bail them out when they helped crash the Working Class' economy in 2008, but the moment the hedge fund billionaires start losing money because a bunch of of Redditors banded together to save GameStop, they're trying to halt trading. Funny.
> 
> On another note, this feels like a culmination of all the Millennial and Zoomer anger against the establishment. GameStop brings back so many childhood memories, as does the 2008 Housing Crisis and Occupy Wall Street. So it's such a strange high watching virtually everyone, from Left to Right, excited at the prospect of some Redditors fucking up Wall Street.
> 
> Is this the unity that Biden talked so much about?




I mean it's cool and all but seriously it's damaging the rest in the long run.
S&P index down 2%, every other people's earning drop.

Melvin or whatever hedge fund had lost close to 100% so by just holding it's more of greed than punishing anyone.

Reactions: Agree 1


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## dergeist (Jan 30, 2021)

Joe Maya said:


> I mean it's cool and all but seriously it's damaging the rest in the long run.
> S&P index down 2%, every other people's earning drop.
> 
> Melvin or whatever hedge fund had lost close to 100% so by just holding it's more of greed than punishing anyone.



It's not, the average person can't put money into a hedgefund. It is more like a slap in the face of the 120% shorters, most of whom would be rich af


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## Joe Maiafication (Jan 30, 2021)

dergeist said:


> It's not, the average person can't put money into a hedgefund. It is more like a slap in the face of the 120% shorters, most of whom would be rich af




It's really affecting the whole market.
All the markets worldwide posted negative 2% - 3% because of this.


Anyway who cares, i'm buying AMC on Monday.

Reactions: Like 1


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## Parallax (Jan 30, 2021)

Le Male Absolu said:


> I can’t believe. This image.


aint no way this is real

Reactions: Agree 1


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## Parallax (Jan 30, 2021)

I bougth some AMC the other day so fingers crossed

Reactions: Like 1 | Winner 1 | Optimistic 1


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## ~M~ (Jan 30, 2021)

We did it reddit


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## Delta Shell (Jan 30, 2021)

I grabbed some AMC when it dipped. Let's see whatgwanwhatgwan

Reactions: Like 1 | Winner 1


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## dergeist (Jan 30, 2021)

Joe Maya said:


> It's really affecting the whole market.
> All the markets worldwide posted negative 2% - 3% because of this.
> 
> 
> Anyway who cares, i'm buying AMC on Monday.



Yes, because the hedge funds and institutions that were shorting will have to sell prime stocks to get the capital to buy back the shorted shares. The same small pool of shares they sold multiple times over, and there aren't enough of them available. They need to rebuild over and over, so they'reofficially f**ked. As long as nobody sells most of the hedge funds will go bankrupt, as will many instructions and there will be a wealth transfer to millions of people. They can then sell those shares and acquire most excellent assets, pay of debts etc.

I'm also buying AMC Monday and holding, fuck it. I just hope the hedge funds aren't stupid enough to keep shorting them over and over to force price down, otherwise it's GG (their end).

Reactions: Winner 1


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## dergeist (Jan 30, 2021)

Le Male Absolu said:


> I can’t believe. This image.



It's real, lol. He refused to sell. Even if he doesn't sell and it crashes he'll be worth $13million or something. I can't remember where I read that. This shorting phenomenon is not new, I'm sure the Germans know what happened with VW. As one guy put it, Porshe made more money with options than they did selling cars


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## ~Gesy~ (Jan 30, 2021)

Parallax said:


> I bougth some AMC the other day so fingers crossed


It's still cheap?


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## dergeist (Jan 30, 2021)

~Gesy~ said:


> It's still cheap?



Relative to squeeze that will be incoming it's quite cheap. At the end of the day the hedge funds will have to buy the shares back, so they're worth whatever somebody sells them for. And if nobody sells, well then..

Reactions: Like 1


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## DemonDragonJ (Jan 30, 2021)

I am not well-versed in stocks and other economic matters, so is it not a good thing that the stock of a company that was in a difficult financial situation has increased in value?


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## dergeist (Jan 30, 2021)

DemonDragonJ said:


> I am not well-versed in stocks and other economic matters, so is it not a good thing that the stock of a company that was in a difficult financial situation has increased in value?



*Supply* of stock (free float near non existent) vs *demand* ( massive requirements to cover short squeezes) *=* financial situation is irrelevant and *rockets* to the moon.

Reactions: Informative 1


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## Kingdom Come (Jan 30, 2021)

I'M GONNA GET SO RICH

PLEASE GO ABOVE 1K TO PAY OFF FOR MY STUDENT LOANS IN THE FUTURE


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## Mider T (Jan 30, 2021)

DemonDragonJ said:


> I am not well-versed


We know.

Reactions: Funny 3


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## Magic (Jan 30, 2021)



Reactions: Like 6 | Winner 1


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## ~Gesy~ (Jan 30, 2021)



Reactions: Informative 3


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## Rukia (Jan 30, 2021)

GameStop actually got cheated.  They are a publicly traded company.  And a group of powerful investors made sure that public sentiment was swayed against them.  There has to be some sort of legal avenue here.

(I am looking into it.)

Reactions: Agree 2


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## Magic (Jan 30, 2021)

Wtf? What's the point? O_O

Guess I'll cancel my gold membership and go to a different platform? Like really wtf.


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## Kingdom Come (Jan 30, 2021)

Bankrupt them all.

Reactions: Like 1


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## ~Gesy~ (Jan 30, 2021)

Sloan said:


> Lol 50 stocks...
> 
> As if restrictions on like 4-5 wasn't ridiculous


The market isn't as free as we thought

Reactions: Like 3


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## DemonDragonJ (Jan 30, 2021)

Mider T said:


> We know.



I am well-versed in some areas, just not all areas.

Reactions: Optimistic 1


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## blk (Jan 30, 2021)

DemonDragonJ said:


> I am not well-versed in stocks and other economic matters, so is it not a good thing that the stock of a company that was in a difficult financial situation has increased in value?



Doesn't change anything for the company itself.

GameStop will remain a distressed business for the foreseeable future if not close down outright imo.

Reactions: Agree 1


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## Breadman (Jan 30, 2021)

This whole fustercluck just continues to prove to me how dumb stocks are and that they don't actually hold any real world value and are just a tool to make rich people richer.

Reactions: Like 1 | Agree 2


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## Utopia Realm (Jan 30, 2021)

Breadman said:


> This whole fustercluck just continues to prove to me how dumb stocks are and that they don't actually hold any real world value and are just a tool to make rich people richer.


That and the actual idea of people trading this shit all willy nilly with some restrictions, and then when someone starts to tilt the odds in their favor that's not rich, change the rules to stop them and protect their own rich friends.

Reactions: Like 1


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## ~Gesy~ (Jan 30, 2021)

Breadman said:


> This whole fustercluck just continues to prove to me how dumb stocks are and that they don't actually hold any real world value and are just a tool to make rich people richer.


The way people get rich these days is pretty funny. Like you can literally create a new form of currency that doesn't exist and sell it.

Reactions: Like 1


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## Reznor (Jan 30, 2021)

I'm buying stock on monday and I'm not buying with Hope of it rising or anything, just fucking some shortsellers.

Reactions: Like 6


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## Magic (Jan 30, 2021)

Reznor said:


> I'm buying stock on monday and I'm not buying with Hope of it rising or anything, just fucking some shortsellers.


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## Sloan (Jan 30, 2021)

Reznor said:


> I'm buying stock on monday and I'm not buying with Hope of it rising or anything, just fucking some shortsellers.


A RideOrDieTypaN***a #Gang

Reactions: Like 1 | Winner 1


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## Kingdom Come (Jan 30, 2021)

*Spoiler*: __

Reactions: Like 1


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## Utopia Realm (Jan 30, 2021)

The lawsuits coming up will be glorious to watch. So many tears and salt coming up.

Reactions: Like 1


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## Orochibuto (Jan 30, 2021)

Rukia said:


> GameStop actually got cheated.  They are a publicly traded company.  And a group of powerful investors made sure that public sentiment was swayed against them.  There has to be some sort of legal avenue here.
> 
> (I am looking into it.)



Isnt it the opposite, with public sentiment rallying in support of gamestop?


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## Eros (Jan 30, 2021)

Kroczilla said:


> Yeah, till you think of the 100s if not 1000s of folks that have just been fucked as a result.



That's exactly right! Capitalism may have its flaws, but people are struggling. People in California are losing their homes.


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## Joe Maiafication (Jan 30, 2021)

lol normal people getting influenced by the rich ones to hold the GME they bought for peanuts as a form of punishment to hedge fund companies and hope it'll go up.

Who buys $300+ shares?
Only rich people.

I'll say sell your GME on Monday and buy AMC.

Reactions: Agree 1


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## Joe Maiafication (Jan 30, 2021)

In the end, no matter how we look at it, the rich people always win.

The real winners are those normal ppl who buy GME at $20-$50 and sell it for $300+

Rich ppl are riding the tsunami and influencing the stupid normy to hold n punish the hedge fund managers so they can get a slice. 

For all i care, they too could be hedge fund managers themselves.


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## hcheng02 (Jan 30, 2021)

Man, the memes are glorious.


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## dergeist (Jan 31, 2021)

Reznor said:


> I'm buying stock on monday and I'm not buying with Hope of it rising or anything, just fucking some shortsellers.



As long as you don't sell, there will be a short squeeze, followed by a Gama squeeze. Read up on what happened with VW. And all it took was 12.8 % shares. Intraday they shot up from $150 to $900 because of the squeeze. Had Porshce not sold their options it would've gone even higher.




Joe Maya said:


> lol normal people getting influenced by the rich ones to hold the GME they bought for peanuts as a form of punishment to hedge fund companies and hope it'll go up.
> 
> Who buys $300+ shares?
> Only rich people.
> ...





Joe Maya said:


> In the end, no matter how we look at it, the rich people always win.
> 
> The real winners are those normal ppl who buy GME at $20-$50 and sell it for $300+
> 
> ...



You're not seeing the bigger picture, if people sell on Monday, the hedgefunds get an out. Until the contracts expire and the margin calls come in it's not worth selling. The little guy will get fucked if people do that and will panic sell. They need to hold because it's impossible for the hedge funds and options brokers to buy the shares and fulfil their obligations there will be a gama squeeze after the short squeeze. So what if dozens of poor people become millionaires, the rest will join the 5 and six figure club having enough money to whether storms.

I say the best move is to keep GME and buy AMC. Even if you have to borrow money/use an overdraft. As I plan to do, since I'm not selling my shares

Here's a brief breakdown of how a short squeeze becomes a Gama Squeeze and what happens to the price, even if it's at say $350.


> The starting point for the short squeeze at that time was Porsche's desire to accumulate more voting rights in Volkswagen. It did so by buying up VW shares in an effort to gain a greater foothold in the company, which at the time was a frequent but unrelated business partner. As Porsche started buying up VW shares, seeiking more voting rights and control of the board, VW stock price continued to inch up through 2006 and 2007, going from about €30 in 2005 to over €150 by 2007, seemingly absent any outside reason. The stock began to appear massively overvalued, and hedge funds took notice and began shorting the stock, betting that it would go down eventually.
> 
> The squeeze itself happened in late 2008. By that time VW became the most valuable automaker on the planet thanks to its stock price having skyrocketed, while *the short position had ballooned to 12% of outstanding shares. The kicker was, Porsche had owned 43% of VW shares and also another 32% in share options. The German government, however, owned another 20.2%. This left very little that could be purchased by anybody else. **This disparity caused short sellers to rush to buy more stock to cover their positions, driving the stock price further still through the month of October 2008, with VW stock price now hovering just above €900, and at one point exceeding €1,000 in intraday trading.*





That Maya is why you hold, even if those people become millionaires, unless nobody sells and the shorts can't be covered, everybody (the retail investor) becomes richer. It's really that simple. Also, the hedge funds will have to buy the same shares multiple times over, which is why they keep shorting them to scare people out, so they don't take the Gama L.


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## stream (Jan 31, 2021)

I admire the enthusiasm, but the way I see it, it's very likely that the short squeeze is over already. The stock went down on Thursday due to brokers shenanigans, and it did go back up some on Friday again, *but despite all the anger and backlash it still did not go as high as Wednesday*.
The way I see it, there's a lot of investors who were not trading any of these stocks yet who have realized that the stock is currently way overvalued, and that no matter what happens, it will end up lower in three months... Which means that now is actually a good time to short. They know the stock can go up still, they probably made sure they have enough margin that even if it goes up 10X, so they are not worried; and they are shorting.

So beware: if you buy GME/AMCX/BB/NOK etc., there's a large chance it will only go down from now on. Be ready to lose the money, don't bet your college fund on it, buy strictly how much you're willing to lose for the cause.

Reactions: Agree 2


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## MrPopo (Jan 31, 2021)

stream said:


> I admire the enthusiasm, but the way I see it, it's very likely that the short squeeze is over already. The stock went down on Thursday due to brokers shenanigans, and it did go back up some on Friday again, *but despite all the anger and backlash it still did not go as high as Wednesday*.
> The way I see it, there's a lot of investors who were not trading any of these stocks yet who have realized that the stock is currently way overvalued, and that no matter what happens, it will end up lower in three months... Which means that now is actually a good time to short. They know the stock can go up still, they probably made sure they have enough margin that even if it goes up 10X, so they are not worried; and they are shorting.
> 
> So beware: if you buy GME/AMCX/BB/NOK etc., there's a large chance it will only go down from now on. Be ready to lose the money, don't bet your college fund on it, buy strictly how much you're willing to lose for the cause.


Ye its a bubble and its gonna pop


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## Pliskin (Jan 31, 2021)

MrPopo said:


> Ye its a bubble and its gonna pop


Yeah, I hope people don't bet their life's savings on a political cause out of an ill informed gold rush fever.

At this point this is  statement, not a money scheme anymore imho.

Also really would like to see the legal fallout, internet is full of  Users complaining robinhood does not let them withdraw at all anymore-


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## dergeist (Jan 31, 2021)

stream said:


> it's very likely that the short squeeze is over already.



Read this, the short squeeze hasn't even begun. Look at the short interest. It's impossible for the hedge funds to close as of yet. They still need to rebuy the shares and return them to the people, many times over to cover the shorts


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## stream (Jan 31, 2021)

dergeist said:


> Read this, the short squeeze hasn't even begun. Look at the short interest. It's impossible for the hedge funds to close as of yet. They still need to rebuy the shares and return them to the people, many times over to cover the shorts


- The short interest was much higher before,  two weeks ago
- The stocks have to go up dramatically some more for the hedge funds to be forced to sell
- Shorts don't expire; the hedge funds only have to wait for the stock to go down, which it eventually will
- There are now even more investors who are shorting the stock

It's not impossible that millions of people start buying like crazy to force the stock to go up in a bid to fuck up wall street, but it's like only 5% chance. 95% is, the stock never goes higher, with a significant risk that it goes down fast.


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## MrPopo (Jan 31, 2021)

dergeist said:


> Read this, the short squeeze hasn't even begun. Look at the short interest. It's impossible for the hedge funds to close as of yet. They still need to rebuy the shares and return them to the people, many times over to cover the shorts


It's only worth while if you got cash to spend, buying $300 stock with high risk in a dead company isn't worth it


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## dergeist (Jan 31, 2021)

stream said:


> - The short interest was much higher before,  two weeks ago
> - The stocks have to go up dramatically some more for the hedge funds to be forced to sell
> - Shorts don't expire; the hedge funds only have to wait for the stock to go down, which it eventually will
> - There are now even more investors who are shorting the stock
> ...



You're joking right? 200% who cares? It doesn't matter, as long as the free float isn't available. The same thing that happened with VW read the article I posted. Free flaot is all that is important. The more that is brought up, and the more they short the more their losses are compounding, which causes margin calls (brokers don't want to foot the bill). And more important the call options, call options make brokers obliged to by the shares or pay cash to buy them back from the owners, since they have to be honoured under the law. It's how Porsche made a shit ton of money with VW.

No, the hedgefunds don't have to wait, they have to pay interest on their shorts and the more they double down the more their losses rise. You can't wait out anything, unless you have unlimited capital. The reason other stocks are crashing is because shorters are being forced to sell their shares to carry on, praying the retail investors cave in.

You pulled the 5%, 95% figure out of nowhere, bud.

Maths + discipline is the only thing that matters here


MrPopo said:


> It's only worth while if you got cash to spend, buying $300 stock with high risk in a dead company isn't worth it



The price isn't important the short squeeze and market cap are. Remember VW became the most valuable company in the world even for a short while just because Hedge funds had to cover their shorts as the options broker also had to honour the options contract. Anyway, I'm going to put a little into GME to support the shroters and more into AMC


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## Joe Maiafication (Jan 31, 2021)

stream said:


> - The short interest was much higher before,  two weeks ago
> - The stocks have to go up dramatically some more for the hedge funds to be forced to sell
> - Shorts don't expire; the hedge funds only have to wait for the stock to go down, which it eventually will
> - There are now even more investors who are shorting the stock
> ...




what should i buy with usd$5000 next week ?



I hope S&P index recover.


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## dergeist (Jan 31, 2021)

@stream this is more clearer in how it works, so if you believe they can hold indefinitely, well then you really don't know how it works


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## Kingdom Come (Jan 31, 2021)

Too much paper hands in this thread

Reactions: Agree 1 | Funny 3


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## stream (Jan 31, 2021)

dergeist said:


> You're joking right? 200% who cares? It doesn't matter, as long as the free float isn't available. The same thing that happened with VW read the article I posted. Free flaot is all that is important. The more that is brought up, and the more they short the more their losses are compounding, which causes margin calls (brokers don't want to foot the bill). And more important the call options, call options make brokers obliged to by the shares or pay cash to buy them back from the owners, since they have to be honoured under the law. It's how Porsche made a shit ton of money with VW.
> 
> No, the hedgefunds don't have to wait, they have to pay interest on their shorts and the more they double down the more their losses rise. You can't wait out anything, unless you have unlimited capital. The reason other stocks are crashing is because shorters are being forced to sell their shares to carry on, praying the retail investors cave in.
> 
> ...


You do what you want, but put only money you can afford to lose.


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## dergeist (Jan 31, 2021)

stream said:


> You do what you want, but put only money you can afford to lose.



That was always the plan

Reactions: Like 2 | Agree 1


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## Kingdom Come (Jan 31, 2021)

thoughts

Reactions: Funny 1 | Winner 1


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## dergeist (Jan 31, 2021)

Kingdom Come said:


> thoughts



Not counterfeit shares perse, but resold over and over reborrowing and call options. It will crush the entirety of the stock market if people don't sell out. We will have an opportunity to enter and pick up the big boys for discount prices. It would lead to a wealth transfer the likes not seen before. However, you are right it could destroy the financial system, but before that look for gold to skyrocket. The moment that happens, know it has begun. Good thing my family holds physical gold in general

There is a possibility that they're counterfeiting shares at the moment to create downward momentum. But that would be criminal and most people will end up in prison. No amount of fines can stop that, since the US government would be on the hook for it (making peoples investments whole).

Reactions: Like 1


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## Catamount (Jan 31, 2021)

I am reading online trying to find a valid GameStop comment or statement on this, and all I can find is them informing that they have an LGBT-friendly workplace.
Have they really made no statement they are not taking any part in this?.. I thought they would have released any official position on it by now, but they kind of went stealth.


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## dergeist (Jan 31, 2021)

Interesting breakdown of what actually happened, minus the BS with the timeline and order of events, by Chamath for those that are interested

Reactions: Like 1


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## stream (Jan 31, 2021)

Catamount said:


> I am reading online trying to find a valid GameStop comment or statement on this, and all I can find is them informing that they have an LGBT-friendly workplace.
> Have they really made no statement they are not taking any part in this?.. I thought they would have released any official position on it by now, but they kind of went stealth.


Literally doesn't matter what they say. Everybody agrees that there's no relation anymore between the worth of the company and the stock price. It's like asking the opinion of a bitcoin.

Reactions: Agree 1


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## Magic (Jan 31, 2021)

Kingdom Come said:


> thoughts


Reads like a Q anon post.


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## Magic (Jan 31, 2021)

stream said:


> Literally doesn't matter what they say. Everybody agrees that there's no relation anymore between the worth of the company and the stock price. It's like asking the opinion of a bitcoin.


Literally nothing to say. 

Max 14 dollah stock got inflated.


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## Reznor (Jan 31, 2021)

Catamount said:


> I am reading online trying to find a valid GameStop comment or statement on this


Don't really see what they have to do with this


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## Mider T (Jan 31, 2021)




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## Joe Maiafication (Jan 31, 2021)

dergeist said:


> That was always the plan




I'm mentally prepared to lose this USD$5000 to wallstreet.

Win Big or Lose Big.

Reactions: Like 1 | Funny 1


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## Catamount (Feb 1, 2021)

Reznor said:


> Don't really see what they have to do with this


When something like this is happening, company is supposed to issue an official statement. Like Blackberry did, for example. I wanted to see how GameStop would word it. Cause they would need to be nice to everyone. And, as one article said, keeping silence hurts their professional image in the eyes of possible investors and partners more than just a public opinion.
Just curiosity on how they would comment. However, I also wonder if they are facing any official questioning from any authorities, and how it works for the target company. I guess I would have to read on VW and Blackberry cause GS does not have a nerve yet.


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## Mider T (Feb 1, 2021)

TechCrunch: Elon Musk goes live on Clubhouse, but with the room full, fans stream audio on YouTube.

Musk spoke with the CEO of RH.


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## dergeist (Feb 1, 2021)

Mider T said:


> TechCrunch: Elon Musk goes live on Clubhouse, but with the room full, fans stream audio on YouTube.
> 
> Musk spoke with the CEO of RH.



The CEO is still cryptic instead of being upfront. He said they were margin called, by the clearing house, which forced them to take a tough stance, but doesn't tell you who the consortium (members) are.


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## Reznor (Feb 1, 2021)

Catamount said:


> When something like this is happening, company is supposed to issue an official statement. Like Blackberry did, for example. I wanted to see how GameStop would word it. Cause they would need to be nice to everyone. And, as one article said, keeping silence hurts their professional image in the eyes of possible investors and partners more than just a public opinion.
> Just curiosity on how they would comment. However, I also wonder if they are facing any official questioning from any authorities, and how it works for the target company. I guess I would have to read on VW and Blackberry cause GS does not have a nerve yet.


Oh yeah, I'm just saying that the stock is disconnected from the company. 
Like, if I don't like what GameStop has to say, Imma be like "stay out of this, GameStop. This doesn't concern you."

What you say is true though.

Reactions: Like 1


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## Catamount (Feb 1, 2021)

Oh lol has anyone posted this here before? I haven't seen yet. I can understand now why Reddit decided to fuck them up:




Oh man people who are supposed to be professionals in their sphere use words like "suckers" and "poker game".
No surprise they got bitch slapped. I did not know this stuff looks as bad as this, what is their difference from random channels that they claim to have  Having a word "research" in the company name and being unable to type the word "positive" fully.


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## Kingslayer (Feb 1, 2021)

Joe Maya said:


> I just find it funny no mention of "Joe Biden" anywhere.
> 
> If Donald Trump is still president, the media will quickly do their "magic" to vilify him and associate him with this issue for whatever reason.


Trump wont supports this retailers. He has hedge funds buddies who openly supported him. 

He would have denounced it online.

Reactions: Informative 1


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## stream (Feb 1, 2021)

So GME is down 27% today... and AMC started 30% up (still lower than Wednesday), then went down; so far it is 3% up.
Great moment to buy the dip? (that's *sarcasm* and I don't advise it).

If I could, I'd short all of them, but I can't

Reactions: Like 1


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## Magic (Feb 1, 2021)

Joe Maya said:


> I just find it funny no mention of "Joe Biden" anywhere.
> 
> If Donald Trump is still president, the media will quickly do their "magic" to vilify him and associate him with this issue for whatever reason.


was still president*


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## Pliskin (Feb 2, 2021)

Soo this story has cooled off it seems.

Hope no one bet their life's savings on this rising even more late in the game.

That said, looking forward to the Robin Hood fallout, I hope they can pin them on something.


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## Kingdom Come (Feb 2, 2021)



Reactions: Like 2


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## MrPopo (Feb 2, 2021)

These $GME posts remind of QAnon posts

Reactions: Like 1


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## stream (Feb 2, 2021)

^ I like how the post starts with *Disclaimer: I am not a financial advisor and this is not financial advice. I barely understand how the stock market works *and then goes on to explain a complex theory based on guesses. I also like how they think that a regulator will eventually step in to force a short squeeze happening — as if that was something desirable, or perhaps something ethical. Nice touch to end by saying they will _only _hold until $10,000/share — meaning the stock will multiply by 44 and the company be theoretically worth about as much as Facebook.

Reactions: Agree 1 | Funny 1


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## Foxve (Feb 2, 2021)

Just got a webull account on Saturday and after depositing money it said it won't be ready until 5 business days pass by. So I can't buy any stock till like Friday.  Is GameStop (stocks overall) still worth it?


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## Le Mâle-Pensant (Feb 2, 2021)

In France we know GameStop because they bought the french chain Micromania.
I know that Micromania is doing better because before GameStop bought them, they already anticipated the evolution of the market and slowly sold less games and more goodies and hardwares. I don’t know if GameStop did the same.


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## Kingslayer (Feb 2, 2021)

Nice detailed post thanks for sharing.


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## Joe Maiafication (Feb 2, 2021)

Foxve said:


> Just got a webull account on Saturday and after depositing money it said it won't be ready until 5 business days pass by. So I can't buy any stock till like Friday.  Is GameStop (stocks overall) still worth it?




Bruh, do some research first.

Reactions: Like 1 | Agree 1


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## blk (Feb 2, 2021)

Foxve said:


> Just got a webull account on Saturday and after depositing money it said it won't be ready until 5 business days pass by. So I can't buy any stock till like Friday.  Is GameStop (stocks overall) still worth it?



It's not worth it and it never was.


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## stream (Feb 2, 2021)

Wow guyz GME is 60% down, and AMC 40% down! Time to buy the dip before the STONKS go up to infinity and HIT THE ASS OF PLUTO!!1!
There's still 1000% short interest so it's impossible for the hegde funds to cover their shortz until the regulators force them to buy, and then the GAMMA SQUEEZE will lock in with the delta hedging and they'll all go bankrupt  HOLD FOREVER

/sarcasm

@Foxve It was your good luck you couldn't buy GME on Monday. Don't buy. If you can, short. It's not that it was never worth buying it, but it was only worth it until last Tuesday-ish; from Thursday morning it was toxic.

Reactions: Like 1 | Agree 1 | Informative 1


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## Pliskin (Feb 2, 2021)

stream said:


> Wow guyz GME is 60% down, and AMC 40% down! Time to buy the dip before the STONKS go up to infinity and HIT THE ASS OF PLUTO!!1!
> There's still 1000% short interest so it's impossible for the hegde funds to cover their shortz until the regulators force them to buy, and then the GAMMA SQUEEZE will lock in with the delta hedging and they'll all go bankrupt  HOLD FOREVER
> 
> /sarcasm
> ...


Yeah the Gamma squeeze stuff was when some of the fans started to sound like Qanon to me, not gonna lie.

Cut down on the hyperbold (edit:lol, gonna leave that typo and officially coin that term)  is always my first reaction when people start spamming smug smileys and exclamation marks in real world contexts. Obviously some people made good money on this, but caveat emptor on all easy money schemes you read online.

Then again, I think anyone thinking about this as an investment missed the point of the whole action.


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## Magic (Feb 2, 2021)

MrPopo said:


> These $GME posts remind of QAnon posts


Pure garbage. -IQ just skimming it.,

Reactions: Agree 1


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## ~Gesy~ (Feb 2, 2021)

Spent 60$, got back 3000.

Reactions: Like 1


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## Huey Freeman (Feb 2, 2021)



Reactions: Agree 1 | Funny 2


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## ~Gesy~ (Feb 2, 2021)

The nerds are the real heroes

They're providing more stimulus packages than Biden

Reactions: Like 1


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## Joe Maiafication (Feb 3, 2021)

lol my cousin getting influenced by the troll and to hold his GME to punish one small hedge fund company.

Reactions: Funny 1 | Sad! 1


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## Sloan (Feb 3, 2021)

Joe Maya said:


> lol my cousin getting influenced by the troll and to hold his GME to punish one small hedge fund company.


Hopefully your couzin didn't put their life savings :c  

I have one share so idrc


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## JJ Baloney (Feb 4, 2021)



Reactions: Funny 2


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## Sloan (Feb 4, 2021)

Big Brain Biden! said:


>


oof.  Dog bout to get a x3 multiplier


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## dergeist (Feb 4, 2021)

‘I am become meme, destroyer of shorts’: Musk fires off market-wrecking omens & random thoughts, ending brief Twitter absence​
The temptations of Twitter were apparently too great for Elon Musk, who ended his short-lived hiatus on the platform with a series of characteristically zany messages.

The world’s richest man returned to his virtual soap box around 48 hours after he announced on Tuesday that he would be practicing Twitter abstinence.

The social media relapse began innocently enough, with Musk retweeting a video of a SpaceX satellite launch – but he soon began flooding Twitter with memes and off-the-cuff remarks. 

The businessman began the binge with a photograph of a rocket accelerating into outer space, tagging the picture with _“Doge,”_ the ‘meme’ cryptocoin that he has joked about repeatedly.

That comment led to even more outlandish posts. Dogecoin is the _“people’s crypto”_ and you don’t need to be a _“gigachad”_ to own some, Musk wrote, adding: _“No highs, no lows, only Doge.”_

He then suddenly and without explanation switched topics. 

_“Sandstorm is a masterpiece,”_ Musk tweeted, apparently in reference to the famous (or infamous) electronic instrumental by Finnish DJ Darude. 

Shortly after sharing the music review, Musk shared his feelings about his peculiar ability to disrupt markets with his tweets. 

_“I am become meme, Destroyer of shorts,”_ he joked, in what seems to be a less-apocalyptic rendition of Robert Oppenheimer’s musings about the detonation of the first atomic bomb in 1945.


Musk’s comments about Dogecoin and other financial assets have been attributed to huge market fluctuations. For example, after he added _“#bitcoin”_ to his Twitter bio, the crypto shot up in value, reportedly liquidating $57 million in short positions in just ten minutes. Dogecoin, widely regarded as a ‘joke’ coin, also shot up in price after Musk began sharing memes about it. 

But with great power comes great responsibility, and the billionaire has acknowledged that he should show more restraint. In a widely discussed talk that he gave on the invitation-only social media app Clubhouse on Sunday night, Musk conceded that he had to be _“careful”_ about what he says, because his remarks can _“affect the market.”_ There was speculation that his market-shaking tweets may have played a role in his decision to take a break from the platform. Judging by his latest remarks, it appears he is no longer particularly concerned about sending markets into orbit – or about crushing short sellers

Reactions: Winner 1


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## Drake (Feb 4, 2021)

People panic-sold and hedge funds likely closed out by now and/or made back everything they lost by shorting GME again. Considering how many people entered this fiasco with no knowledge of what they were getting into, this result isn't surprising. So much for fucking over the hedge funds, lmao. There's a reason why hedge fund managers have multi-million dollar salaries... An unorganized mob (especially when it becomes inundated with people who don't know how to trade) will never be able to beat them.

Personally I gained nothing and lost nothing since I covered my positions. I think there was actually some more potential for GME, but in the end the mindset of the general public was too volatile. Sadly it seems the hedge funds have outsmarted the average investor, though they did take some damage from this for all those who sold at the peak.

Reactions: Like 2


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## Sloan (Feb 4, 2021)

Drake said:


> People panic-sold and hedge funds likely closed out by now and/or made back everything they lost by shorting GME again. Considering how many people entered this fiasco with no knowledge of what they were getting into, this result isn't surprising. So much for fucking over the hedge funds, lmao. There's a reason why hedge fund managers have multi-million dollar salaries... An unorganized mob (especially when it becomes inundated with people who don't know how to trade) will never be able to beat them.
> 
> Personally I gained nothing and lost nothing since I covered my positions. I think there was actually some more potential for GME, but in the end the mindset of the general public was too volatile. Sadly it seems the hedge funds have outsmarted the average investor, though they did take some damage from this for all those who sold at the peak.


Ya, GME is over imo.  

The take away from this is Hedgefunds and the collusion with brokers and the corruptness surrounding them has been brough to attention to a mass of people who probably never gave it a thot.  That's more important than temporarily making some money in my eyes.

Hopefully the class action law suits against Robinhood make some head way, and other brokers change some of their ideals/rules.   

Hopefully the Market in the future is actually a "free Market" and not one that only benefits those who have ownership of brokers, and rich Hedgefundies.

Reactions: Like 1


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## dergeist (Feb 4, 2021)

Drake said:


> People panic-sold and hedge funds likely closed out by now and/or made back everything they lost by shorting GME again. Considering how many people entered this fiasco with no knowledge of what they were getting into, this result isn't surprising. So much for fucking over the hedge funds, lmao. There's a reason why hedge fund managers have multi-million dollar salaries... An unorganized mob (especially when it becomes inundated with people who don't know how to trade) will never be able to beat them.
> 
> Personally I gained nothing and lost nothing since I covered my positions. I think there was actually some more potential for GME, but in the end the mindset of the general public was too volatile. Sadly it seems the hedge funds have outsmarted the average investor, though they did take some damage from this for all those who sold at the peak.



There should a decentralised-centralised investment vehicle. Decentralised in that people discuss ideas, and centralised in that they put the money into a pot managed by one person who acts with their approval. The moment it's invested they will have to wait for the person to sell. That way paper hands and panic sellers disappear no matter how much they whinge, whine etc it won't affect the trade.

The only problem is that the one person would require licences etc of all sorts before they can even touch the money.

@Sloan the market can be free/freer, but that requires more direct access. As technology advances, that may be in the near future.

Reactions: Like 1


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## Sloan (Feb 4, 2021)

dergeist said:


> There should a decentralised-centralised investment vehicle. Decentralised in that people discuss ideas, and centralised in that they put the money into a pot managed by one person who acts with their approval. The moment it's invested they will have to wait for the person to sell. That way paper hands and panic sellers disappear no matter how much they whinge, whine etc it won't affect the trade.
> 
> The only problem is that the one person would require licences etc of all sorts before they can even touch the money.
> 
> @Sloan the market can be free/freer, but that requires more direct access. As technology advances, that may be in the near future.


Direct access to what?  Currently technology isn't enough?  Designing an app with everything we need should be doable atm.


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## Son of Goku (Feb 4, 2021)

I haven't verified this, but lol.

Reactions: Funny 4


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## Kingdom Come (Feb 4, 2021)

Son of Goku said:


> I haven't verified this, but lol.



look at all those [shorts]...

crazy fucking billionaires


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## Parallax (Feb 4, 2021)

Son of Goku said:


> I haven't verified this, but lol.


"Predicted"

Reactions: Informative 1


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## Magic (Feb 4, 2021)

Sloan said:


> Hopefully the Market in the future is actually a "free Market" and not one that only benefits those who have ownership of brokers, and rich Hedgefundies.


Only way that happens is if you own bitcoin son.


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## Kingslayer (Feb 4, 2021)

dergeist said:


> ‘I am become meme, destroyer of shorts’: Musk fires off market-wrecking omens & random thoughts, ending brief Twitter absence​
> The temptations of Twitter were apparently too great for Elon Musk, who ended his short-lived hiatus on the platform with a series of characteristically zany messages.
> 
> The world’s richest man returned to his virtual soap box around 48 hours after he announced on Tuesday that he would be practicing Twitter abstinence.
> ...


I cant stop loving this guy.Elon  is too intelligent for this planet.

Reactions: Like 1 | Funny 1 | Optimistic 1 | Dislike 1


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## Sloan (Feb 4, 2021)

RemChu said:


> Only way that happens is if you own bitcoin son.


Who says I don't already own a lil bit of Bitcoin

Reactions: Funny 1


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## Magic (Feb 4, 2021)

Sloan said:


> Who says I don't already own a lil bit of Bitcoin


Give me a few satoshi brotha.

Reactions: Funny 1


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## Sloan (Feb 4, 2021)

RemChu said:


> Give me a few satoshi brotha.


Didn't even kno what that was.

I guess I could spare you a couple Satoshi


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## Eros (Feb 4, 2021)

RemChu said:


> Give me a few satoshi brotha.


I remember Satoshi.


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## Parallax (Feb 5, 2021)

Dark Shadow said:


> I cant stop loving this guy.Elon  is too intelligent for this planet.


He's really not chill


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## Eros (Feb 5, 2021)

Parallax said:


> He's really not chill


Everyone needs to put things in perspective. Yes, he is a fucking genius, but he is also a fucking asshole in equal measure. It's who he is. That is nothing unusual for guys like him though.


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## Kingslayer (Feb 5, 2021)

Parallax said:


> He's really not chill


I think he makes good memes. Billionaire  and memer where do you get this combo ?


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## dergeist (Feb 5, 2021)

Son of Goku said:


> I haven't verified this, but lol.

Reactions: Like 1


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## dergeist (Feb 5, 2021)

Sloan said:


> Direct access to what?  Currently technology isn't enough?  Designing an app with everything we need should be doable atm.



Direct access to the NYSE, or clearing house, it eliminates waste and delays. Although, all the fee grabbers and scalpers would be butthurt. However, we can't wait for them to catch up.

Reactions: Like 1 | Informative 1


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## SakuraLover16 (Feb 5, 2021)

So Elizabeth Warren was right on some level?


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## Cardboard Tube Knight (Feb 5, 2021)

People like Elon Musk? The guy is shit.


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## SakuraLover16 (Feb 5, 2021)

From what I understand this is similar to a pump and dump. Apparently the older mods were pushed out and replaced with newer accounts I think some may be like a week old or something. So it seems like it wasn’t the hedge funds that lost a lot of money but regular people the subreddit deceived?


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## MrPopo (Feb 5, 2021)

SakuraLover16 said:


> From what I understand this is similar to a pump and dump. Apparently the older mods were pushed out and replaced with newer accounts I think some may be like a week old or something. So it seems like it wasn’t the hedge funds that lost a lot of money but regular people the subreddit deceived?


Regular people lost money for trying to get into the bubble to late, the subreddit didn't try to deceice anyone also this is more of a short squeeze

Reactions: Agree 1 | Informative 1


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## Cardboard Tube Knight (Feb 5, 2021)

SakuraLover16 said:


> From what I understand this is similar to a pump and dump. Apparently the older mods were pushed out and replaced with newer accounts I think some may be like a week old or something. So it seems like it wasn’t the hedge funds that lost a lot of money but regular people the subreddit deceived?


The subreddit isn't a good place, like people tried to make them out to be heroes but no "good" subreddit has to go private as often as they have had to. Sure, there are some good people in there, there are almost some anywhere.


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## Sloan (Feb 5, 2021)

SakuraLover16 said:


> From what I understand this is similar to a pump and dump. Apparently the older mods were pushed out and replaced with newer accounts I think some may be like a week old or something. So it seems like it wasn’t the hedge funds that lost a lot of money but regular people the subreddit deceived?


Hedgefunds did lose a lot of money.  But that's not good enough when it comes to Hedgefunds.  You have to put them in the negatives for it to matter.

And ya regular ppl did lose money, but regular ppl have lost money in that subreddit be4 this whole GME thing, plus when they get 6million new subscribers in a week who have never done stocks in their life and just hop in on the hype from an instagram or twitter post and buy 25 shares at 400$ a share, ya ppl will lose money gg.


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## Alwaysmind (Feb 5, 2021)

A lot of rich investors lost money because they were betting against Ganestop, the Reddit pump and dump meant that while they bought stocks at low prices, they didn’t intended to sell if they soared but when they would tank.


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## SakuraLover16 (Feb 5, 2021)

MrPopo said:


> Regular people lost money for trying to get into the bubble to late, the subreddit didn't try to deceice anyone also this is more of a short squeeze


But ultimately hedge funds still walked away making bank. Yes there are a few success stories but ultimately the people who take most of the loss are the regular people. I’ve heard tale of people who said they lost money comments were being deleted so I heard.


Cardboard Tube Knight said:


> The subreddit isn't a good place, like people tried to make them out to be heroes but no "good" subreddit has to go private as often as they have had to. Sure, there are some good people in there, there are almost some anywhere.


Hearing that makes me believe the worst.



Sloan said:


> Hedgefunds did lose a lot of money.  But that's not good enough when it comes to Hedgefunds.  You have to put them in the negatives for it to matter.
> 
> And ya regular ppl did lose money, but regular ppl have lost money in that subreddit be4 this whole GME thing, plus when they get 6million new subscribers in a week who have never done stocks in their life and just hop in on the hype from an instagram or twitter post and buy 25 shares at 400$ a share, ya ppl will lose money gg.


I get that and from what I understand the hedge funds are the backbone of the market so while some did hemorrhage money others made massive amounts. It’s just a bit unfortunate because a lot of people lost their savings really believed it was a free for all. I guess it just goes to show that there needs to be better regulations put in place so people don’t feel like they need to punch upwards.


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## Kingdom Come (Feb 5, 2021)

Man I'm hoping GME at least goes $100+

I'm fucking stupid not cashing out at $400+

I could've gotten $21k with my $42 AVG [20 Shares] and $52 AVG [30 Shares]

I literally had like an entire damn week to cash out knowing that it'll keep going down cause of the short ladder attacks, could've even gotten out with almost $15k on Monday

My greed and smooth brain did me wrong

Reactions: Friendly 1


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## Sloan (Feb 5, 2021)

SakuraLover16 said:


> I get that and from what I understand the hedge funds are the backbone of the market so while some did hemorrhage money others made massive amounts. It’s just a bit unfortunate because a lot of people lost their savings really believed it was a free for all. I guess it just goes to show that there needs to be better regulations put in place so people don’t feel like they need to punch upwards.


That is their fault to be honest and a lack of discipline.  You never “put all your eggs into one basket”.

Not with stocks, not with real estate, not with owning a resteraunt etc.

Like I have one share of GME and lost money on it, I chose not to throw my entire savings on it.

Reactions: Agree 1


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## Kingdom Come (Feb 5, 2021)

Sloan said:


> That is their fault to be honest and a lack of discipline.  You never “put all your eggs into one basket”.
> 
> Not with stocks, not with real estate, not with owning a resteraunt etc.
> 
> *Like I have one share of GME and lost money on it, I chose not to throw my entire savings on it.*


WSB has so much dudes that went YOLO around the 200-400 mark

they're fucked...


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## Sloan (Feb 5, 2021)

Kingdom Come said:


> WSB has so much dudes that went YOLO around the 200-400 mark
> 
> they're fucked...


Even if you bought one share at those prices but it doesn’t stop you from paying your rent/groceries bla bla your good.

Sux for anyone that went full Yolo with a 55 IQ play and threw their entire student loans in though.


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## Magic (Feb 5, 2021)

SakuraLover16 said:


> From what I understand this is similar to a pump and dump. Apparently the older mods were pushed out and replaced with newer accounts I think some may be like a week old or something. So it seems like it wasn’t the hedge funds that lost a lot of money but regular people the subreddit deceived?


Stupid people lost money. 
They are to blame. 

Who the fuck is going to come in and buy at 450,400 range. Anyone who did that and held the bag deserved what came after.


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## Sloan (Feb 5, 2021)

3 likes and I throw my entire net worth into GME tommrow.

Reactions: Like 4


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## SakuraLover16 (Feb 5, 2021)

Sloan said:


> That is their fault to be honest and a lack of discipline.  You never “put all your eggs into one basket”.
> 
> Not with stocks, not with real estate, not with owning a resteraunt etc.
> 
> Like I have one share of GME and lost money on it, I chose not to throw my entire savings on it.


Who said that they didn’t have to be accountable for their own actions? I don’t believe I even hinted at such. I can still sympathize with those people even though they weren’t making an intelligent decision because we are in a pandemic where people have gone into debt in order to survive (me included).


RemChu said:


> Stupid people lost money.
> They are to blame.
> 
> Who the fuck is going to come in and buy at 450,400 range. Anyone who did that and held the bag deserved what came after.


Basically what I said above.

 Maybe I feel the way I do because of this video by Vaush. He didn’t tell people to buy the stock (he even said it wasn’t a good idea or something like don’t put money you’ll miss into it) but he did apologize anyways for furthering the narrative which I think is pretty neat actually.

I think it’s from minutes 3 to 15 I could be wrong

Reactions: Friendly 1


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## Sloan (Feb 6, 2021)

SakuraLover16 said:


> Who said that they didn’t have to be accountable for their own actions? I don’t believe I even hinted at such. I can still sympathize with those people even though they weren’t making an intelligent decision because we are in a pandemic where people have gone into debt in order to survive (me included).


If living in such a time(Pandemic/Quarantine) hasn't pushed one to bettering their money management.  Section-ally/categorically investing/spending money etc than I truly don't know what will.

These people strike me as the type to buy a Gucci belt with their stimulus check instead of properly spending it/saving as much of it as possible for a rainy day.

Maybe this is a lesson and experience they needed, if they were willing to spend their entire student loan/savings on one single stock because of some random hype they didn't even understand anything about on the internet than they would have probably had another "Big brain idea" in the future anyways where they would've done the same thing.

Hopefully no one that actually made such a decision got gg'd so badly that they are about to get evicted when rent day comes and have to go live in a shelter or some other highly unfortunate outcome, Hopefully the worst is that they got very hard by it, but are able to continue and start back up from square one with a lesson learned  but it is what it is imo.


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## Cardboard Tube Knight (Feb 6, 2021)



Reactions: Funny 3


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## Vivo Diez (Feb 6, 2021)

Just like any successful ponzi scheme, by the time it became mainstream all the ones that jumped in late got fucked


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## MrPopo (Feb 6, 2021)

Sloan said:


>


I hope you find a good shelter to stay at

Reactions: Funny 2


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## Sloan (Feb 6, 2021)




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## SakuraLover16 (Feb 6, 2021)

Sloan said:


> If living in such a time(Pandemic/Quarantine) hasn't pushed one to bettering their money management.  Section-ally/categorically investing/spending money etc than I truly don't know what will.
> 
> These people strike me as the type to buy a Gucci belt with their nsinly stimulus check instead of properly spending it/saving as much of it as possible for a rainy day.
> 
> ...


Who says they haven’t been doing the best they can with money? It seems more likely that some maybe saw the answer to all of their problems and jumped on it without actually knowing what they were doing.

I also wouldn’t say they are the type to spend irresponsibly because some put their life’s savings into it hoping for more.

I don’t disagree that this was a valuable lesson but when you live in a time where you actually have to be in debt to live it’s pretty understandable that anyone will take a chance to make a big turn around. I wouldn’t say all of it was done through greed the stock markets learning curve isn’t small by any means.

I agree. Like Vaush said the narrative was the most harmful thing. I say this because a lot of people are rightfully ready to fuck over a hedge fund but no one really thinks about being fucked over themselves.


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## Pliskin (Feb 6, 2021)

Vivo Diez said:


> Just like any successful ponzi scheme, by the time it became mainstream all the ones that jumped in late got fucked


Yeah, thats why I said before this went over pyramid scheme. The second it got hype it was no longer little guys screwing over hedge funds, it was also little guys trying to sucker other little guys.

Rule of thumb: if people online offer you magic free money advise, you are their magic money tree most likely.

Reactions: Like 1


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## Vivo Diez (Feb 6, 2021)

Pliskin said:


> Yeah, thats why I said before this went over pyramid scheme. The second it got hype it was no longer little guys screwing over hedge funds, it was also little guys trying to sucker other little guys.
> 
> Rule of thumb: if people online offer you magic free money advise, you are their magic money tree most likely.


Yup. Whenever there seems to be an opportunity for the everyman to make easy money the game is already rigged.


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## Mider T (Feb 7, 2021)




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## Son of Goku (Feb 7, 2021)

​Raised in a family devastated by bubble economics, one Reddit investor saw GameStop as a way to send a message to "cancerous rent-seekers"​
Feb 6

​
Thursday, January 21st was a critical day in the story of the video game chain GameStop (ticker name: GME). Retail investors, including many subscribers to a Reddit forum called , pushed the company’s stock from $6 to $43.03, but experts said playtime was over. It was time for the big shots to clean up.

According to Citron Research, one of many funds that had bet on the brick-and-mortar store to fail, those investing in GME were “,” and would soon be sorry when the stock went “back to $20 fast.”

They were wrong. Instead of amateurs being shoved aside by hedge funds, it was the pros who had their backs broken, as GME soared to $65.05, beginning a steep ascent that would become an international news phenomenon.

It was the “” moment for Wall Street. The pros had been sloppy. By late 2020, shares in GameStop were . A sudden rise in value would force shorts to pay exorbitant prices just to get out of the trade. By the afternoon of the 21st, all the “suckers” on Reddit had to do to beat them was nothing, and they did just that, behind the rallying cry “,” signifying a determination to hold at all costs.

Why hold? One of the millions of subscribers to wallstreetbets posted a note, explaining what the trade meant to him:


> This is for you, Dad
> _I remember when the housing collapse sent a torpedo through my family. My father’s concrete company collapsed almost overnight. My father lost his home. My uncle lost his home. I remember my brother helping my father count pocket change on our kitchen table. That was all the money he had left in the world. While this was happening in my home, I saw hedge funders literally drinking champagne as they looked down on the Occupy Wall Street protesters. I will never forget that.
> My father never recovered from that blow. He fell deeper and deeper into alcoholism and exists now as a shell of his former self, waiting for death.
> This is all the money I have and I’d rather lose it all than give them what they need to destroy me. Taking money from me won’t hurt me, because I don’t value it at all. I’ll burn it down just to spite them.
> This is for you, Dad._




​
The post went viral, scoring over 70,000 upvotes the first day and ending up on the front page of Reddit. The author, who had gone to lengths to keep his identity private, saw his Reddit handle “Space-peanut” inundated with press requests, from podcasts all the way up to the _New York Times. _Stuart Varney of _Fox Business News _read his post out loud on live television.

Meanwhile, on wallstreetbets, Redditor after Redditor responded with similar tales.

“My mother lost her house that spent 20 years saving for in 2008 while raising me and my sister,” wrote one. “I remember sitting on the curb, trying to keep it together myself at 16 while watching her break down uncontrollably…”

“My dad is a carpenter and thirty years of work, retirement, and savings was nearly wiped out,” wrote another, adding: “This is for you, Dad.”

A third letter described a man who, having lost his dairy business after the crash, attempted suicide by shooting himself in the face in the woods. He survived, leaving his son to “carry his blown-apart body to the house,” only to finish the job by throwing himself in front of a train soon after.

“Space-peanut” watched in awe as stories piled up. The thread soon read like the untold history of America after the 2008 financial crisis:

​

​

​

​

The original poster, whom I’ll call SP, was unaccustomed to attention. A one-time military man and father of two, he had no other social media presence and joined Reddit exclusively to comment about stock on wallstreetbets. He was overwhelmed by what he calls “just an endless Rolodex of sad stories,” nearly all referencing the same period after the crash.

“I think that's why my post, however terse, hit such a nerve,” he says. “So many people were saying, ‘I have deep pain from this point in time, too.’”

An acquaintance of a long-ago source of mine, the man reached out this week. Across several conversations, he explained what GameStop meant to him, and why. For a variety of reasons, mainly having to do with his professional situation, he asked to remain anonymous.

SP is cautious, articulate, and well-read. In our first call, one of the first things he told me was that even growing up, he’d “always wanted to work on a trading desk.” I asked why. The answer was a three-decade story that ran all the way to GameStop. It’s reproduced below, in Q&A form.

Since 2008, the tendency among mainstream commentators has been to shrug off reverberations from the crash that force their way into news, usually on the grounds that the millions who lost homes, careers, marriages, lifetimes of savings, health, and in , their lives, are not truly poor or “working class,” or are only “,” as _New York _magazine recently put it. In the case of GameStop, there’s been a parade of stories describing investors as dupes, dummies, financial Trumpists, irresponsible gamblers, even crooks, their trade pegged as almost everything but what on some level it surely was and is, an echo of a suppressed national disaster.

Was GameStop “recreational” investing gone haywire, or a climax to a story building for a generation? Here’s one person’s answer:
*SP: *I grew up watching my parents struggle with money. Money was discussed all the time. They fought all the time. The older I got, the more I felt I had to do anything to keep my own kids from going through the same thing.

My parents worried in different ways. With my mother, I regularly knew how much money was in her checking account because she would stress-yell the amount whenever I asked for anything. It was really difficult for her.

My dad was the opposite. He wanted you to think he had money, but you were looking around and thinking, "I'm pretty sure we don't." Because I don't have a bed, and my brother is sleeping on a couch. So if you've got it, maybe we should use it, I don't know. So they were different in that regard.

From the time I was eight and nine, I was spending summers working. When I was with my father he thought it was important for us to do the hardest manual labor possible.

_*TK: Was that supposed to be about character-building?*_

SP: So my dad thought it was a good idea, but at the same time, I think he needed to go to work. And that was the best place for us to be, because I don't think he could leave us alone all day. So he was like, "I know what we'll do. I'll bring you to work. You can work and then we'll be together." (_Laughs) _That was character-building, yes. I built a _lot_ of character out there. I'd say that much. I had way too much character.

To this day I know I can outwork people in physical labor simply because my threshold for what is considered difficult is much higher, because I spent summers as a child doing that. I'm not sure where that squares with labor laws, but it happened.

_*TK: What kind of work?*_

SP: At that time, we were doing field work out where we were from. So you're doing a lot of leaching, which just is basically watching a big field fill up with water to prepare it for planting. One summer, we were doing that. And then we tore down houses. We were working with other guys who were grown men and didn't speak English.

Those guys would do anything to get here and take that job, especially the day laborers. They wake up super early, go to a spot where they know a contractor is going to drive by, and try to pick some of them up for the day. I mean, not an easy existence. So it's difficult to hear people lambast a specific group of migrant workers. I feel like saying, "Hey, I know I've done work with migrant workers and I'll tell you what, that would be difficult to say, ‘This is what I'm going to do my whole life.’ I'll tell you that right now.

_*TK: What did your mother do?*_

SP: After the divorce was over, she moved to a new state, and she spent years starting up a new business, a dining guide in a big city. Put her own money in it. There was a lot of driving, over an hour every morning to get to the city, then appointments all day. She was a single mom at the time, so she had to get back, get the kids, take care of us. But she was doing well. She had advertising contracts lined up and after years of work, was just about ready to launch, when the dot-com bubble burst and she lost it all.

Almost overnight, the only thing really left of the business was a fax machine in our apartment. Before, companies would be faxing her signed agreements, letters of intent, and so on. All the marketing calls would come back to that number hanging on the fax machine. So basically, anything connected with her company was coming back there.

For a long time, she would just lay on the couch, locked in depression. The fax would go off from time to time and she wouldn’t react, she would lie there in a daze. Looking back on it, it must have been painful every time that fricking thing rang, a reminder of the thing you failed at. Just imagine, you're so close to making it, and then an exogenous shock prevents you from achieving the dream you’d set out for yourself.

She could've just let that beat her down forever. But she eventually got her shit together and was like, "Hey, I need to retool myself." She went back to school, got a master's degree, started teaching. My dad, on the other hand, didn't do that. He never got over what happened.

_*TK: This was the concrete company?*_

SP: Right. In the 2000s, he was a superintendent at a concrete company that was very successful for a time, employed hundreds of people. I worked there, too, when I was 19. Again, there were a lot of migrant laborers doing this work too, guys who were supporting families back in Mexico. And 2008 hit, another financial collapse.

There was such explosive growth, and all of the sudden, it was gone. My father lost his job, his house, and he just got worse and worse and worse. He’s got heart problems now, he’s on a bunch of medication. I just expect to get the call any day that he's going to be dead. He's just circling the drain. He's been in and out of the hospital. He doesn't take care of himself.

One of the people who answered my post on Reddit talked about how he felt the crash basically robbed his father from him. That's how it was. We used to talk five times a day, man. Talking to my dad was the most reliable thing that I could do. I talked to him and my brother four or five times a day for fifteen, twenty years. And then over the past probably four or five years, it was less and less. I think I went a full year without talking to him. He didn't know I got married. He hasn’t seen my second daughter.

I’ll tell you, when you look in the eyes of a grown man who has no options to support his kids, that’s devastating. I decided when I first saw that in him, I would sweat blood to make sure that never happened to my family.
I put myself through school, going for the cheapest state tuition, and did the same for the MBA program. I was able to take out a loan and I was able to start the program a semester early, while I was still finishing undergrad, so I could economize the cost. And then I went straight through both summers and got it done really quickly, overloading my class schedule because I didn't want to take out more loans. So I got it done for $25,000, and I was working full-time too, while I was there. Later, I was able to save up enough to get it completely discharged, though in order to do that, I had to have five roommates for four years.

_*TK: Why business school, why finance?*_

SP: By the time I was getting ready to go to college, my brother had already been in the Marine Corps for a few years and had already done two tours in Iraq, and it was the worst time to be there. He saw a lot of carnage. And he was saying, "You know, if you still want to be in the military, it's a much better route if you go to college first, from what I've seen." And every single person I'd ever done manual labor jobs with had said, if they could do one thing differently, they would have gone to college. They’d be on the job and put a hand on my shoulder and say, "You don't want to have to do this when you're 50." Like I'm 50, I'm hanging drywall. It's my company, but it would be nice to not have to do it.

Anyway, I got into being a Wall Street trader when I was an undergrad. I liked the high energy. I also knew a bunch of people from my home city that grew up to be traders. (_Laughs_). Some of them were really dumb and some of them didn't even finish high school, but they knew a guy who was on the floor like (_mimics a Chicago accent_) "And my boy Tony, he hooked me up with a _jawb_ on the exchange…”

But they made a lot of money. I thought, "This is ridiculous. I'm more intelligent than that guy." He could barely do math, but he’s trading options. Still, I liked hanging out with those people. Some of them were not real class acts, but… I liked the idea that it was challenging. I just wanted to study everything I could. I knew I was going to be competing with people that had way better educational pedigrees than I did, and I needed every single edge that I could get just to get myself in the door.

I got really interested in the question, "what were the things you look for when a company starts going into financial dire straits?" That led me down the path of finding good books that had been written in the past about major bankruptcies and collapses, books like _When Genius Failed, Predator’s Ball_, and _A Colossal Failure of Common Sense. _I was studying companies like , which got bailed out in the late nineties.

At the time, it was just interesting to see how, when people did their homework and took a big risk on some distressed debt, they could make a gigantic payday in one day. And I was like, man, that would be exhilarating. I even saw the original movie _Wall Street_ and I was like, "That's badass. Even though these guys are criminals, just the idea of being on a trading floor seems really cool."

Now I look back at that and think, if I’d become that person, I’d be sitting in the place of some of these hedge funds who do this all day. They go out and find companies that are going to be struggling at a specific date and time, and that's when they start buying massive put spreads, shorting the piss out of the stock, putting it in the dirt, ensuring it will fail. I look back on it now, and it's like, “Goddamn, that would have really sucked.” They're two very different paths I was going down. I'm glad I chose this one.

_*TK: What was the other path?*_

SP: Look, I originally did all that reading because I was looking for insights on how to make money. But studying firms like Drexel Burnham Lambert, Long Term Capital Management, Lehman Brothers, I learned two other things.

One is that these guys get bailed out. The second is that they never go to jail, even when they’re dead to rights. I think the two people that got prosecuted first after the financial crisis were the . The implosion of those two hedge funds was the canary in the coal mine, because that was the death knell for the coming crash.

These two guys had emails back and forth, talking about how fraudulent their products were. Talking about how they're totally screwing over clients, in writing! And not one of them went to jail. And who did they go after at that time? Bernie Madoff. He was the one person who went to jail. Why did he get prosecuted? Because he stole from the rich!

_*TK: They even made a movie about it, …*_

SP: Exactly! How come they didn't make any movies about these other horrible people that profited off of the destruction of the economy? The people who ran Countrywide, or the people who were working at the ratings agencies, who knew the things they were rating were fraudulent? Even just down at the mortgage origination level. They made tons of money, and not one of those people went to jail.

Anyway, I didn’t go that route. After I got my MBA, I joined the military.

_*TK: Why?*_

SP: My brother at the time had already been out of the Marines for a while. He was working for a hedge fund out in California. And his boss was very, very old, in his nineties. I thought, "Man, you can literally die at your desk at 100 years old in finance, but there's only a short window that you can serve the nation, and once that, once that door closes, it never opens again." So I joined, went to Officer Candidate School, got in, went to other countries, saw a lot of very, very poor places, which gave me some perspective. Long story short, I ended up working as a software engineer.

_*TK: How did you get into online investing? *_

SP: I was still keeping up with all my financial periodicals, because I knew one day I was going to step back into that world. I was able to start making stock picks for myself. The first real investment I made was in Netflix when it was still double digits. I made a brokerage account with my bank and threw some money in there and started going at it.

The industry was really changing. Robinhood's slogan is “Democratizing Finance,” but really it’s the computer science industry democratizing finance, because all those tools that used to be proprietary are free now, included in your trading app.

If you make a TD Ameritrade account, you can run, think or swim. It’s like a mini Bloomberg terminal. You're not going to get the same richness of data, but you're going to get a significant amount that you normally wouldn't ten years ago. And in places like wallstreetbets, I was meeting people who clearly used to or still did work on Wall Street, who would teach you, for free, how to do things like recognize distressed companies, research their debt covenants, look up public data about who was invested in what, and so on.

There’s one guy, he goes by the name  — it’s surreal on wallstreetbets, you discuss such serious topics with such ridiculously named people — who was teaching us how to be distressed debt buyers. These are really intelligent people, just giving away knowledge.

A lot of the tools we have now, it used to be only people working at the top hedge funds on Wall Street had access to that information. So a lot of the barriers had collapsed. But the system is still skewed, which I started to see more clearly when the pandemic hit.

_*TK: How so?*_

I remember last March, just as the pandemic was taking hold, I was watching CNBC, and Bill Ackman, the big hedge fund guy, basically saying it’s the end of the American economy. He’s saying, “Shutdown is inevitable,” and calling for everything to be closed except essential services:

At the time, I was wrapped up in the doom, on the side of, "I don't think we're prepared for what's coming." Because I was watching the videos coming out of China and thinking, "There are people just passing out. That's not normal. I think that's bad." I saw a video of somebody being welded into his apartment, and I again, I thought, that seems bad. Seeing Ackman on TV, I was like, "I think he's right."
As time went on, though, that moment bothered me. I thought, “That fuck, he’s causing the panic.”

I guarantee a lot of people were like, "Bill Ackman's a smart dude. He's a lot more successful investor than I am, and he says shit's about to hit the fan. I better start buying some protection. I don't know, short really volatile, high flying stocks, and maybe buy a lot of put spreads." But then we all know what happened after that.

_*TK: That broadcast was March 18th, so the $2 trillion bailout was announced a week after. The market had been plummeting straight down, but it bounced right back up and kept going.*_

SP: It’s the COVID-19 sell-off and pump. It’s what these guys do. It really does feel as though CNBC is a participant in market manipulation for the rich. These hedge fund guys go on air and it’s like they’re trying to spook the herd in the direction of their trades. They tell everyone to get out when they’re short, and once all the meat is all off the bone, they go long, just in time for the recovery. They get to call the top and the bottom of the market. It’s totally fucked.

The bailout and the pandemic just exposed how there are different sets of rules, not just for different types of investors, but different types of businesses. Your favorite sandwich shop? Closed. If you've got 200 of those sandwich shops? Open.

If you had sufficient capital to lobby whatever your government is, you could get an exemption, but if you were a small-time business owner, you were out of luck, and that just made no sense to me. I was like, “We're just making this up on the fly.”

_*TK: When did you first pay attention to GameStop?*_

SP: I remember people posting about the GameStop potential short squeeze last summer. I definitely didn't catch any of the attention earlier than that, but I didn't get the trade. I'll be honest with you. I saw the potential there. I really did, but I was like, there's just so much going against you on that. And at the same time, the business needs to make money and they're in debt and they're not making money.

But at some point, once this all started, I started to think about it. We’re in a pandemic, and there are all these people who couldn’t work all year. Or they’re small businesses that don’t have the political impact. They’re going to take the loss. And in the middle of all this misery, you have a group of the most cancerous rent-seekers on earth, aligning to destroy this company GameStop, because they decided it shouldn’t exist anymore.

And it was _GameStop! _It’s such a visceral symbol for people in my generation. Even for me, in all those bad times growing up, it was always a nice memory just to go to a strip mall, go in the store, check out a game or two. I like GameStop. Everyone remembers going to GameStop. It’s part of what made it such an obvious rallying cry.

That was it for me. I found myself thinking, I didn’t care if I lost every last dollar doing it, I was going to put it on GameStop, just to see them panic for once. Even if for just one moment they have to think about how they’re going to make their payments for their Manhattan apartments, that’s worth it. They’re playing these games while there are people out there who can’t afford Christmas presents for their kids, can’t afford food. What are these families supposed to do?

Meanwhile those guys at the hedge funds, they’re not sharing that fear. Why should they? They’re going to get bailed out anyway.

_*TK: One criticism of the GME traders is that while there are billion-dollar shorts losing on the other side, there are also big money managers on the long side, essentially using what some call “recreational” day-traders as camouflage. What do you say to that?*_

There are definitely some high net worth individuals in wallstreetbets, and they were probably making good money early on, incidentally getting some good research done for free and getting in on some trades early. But there are a lot of small-time investors in there, too. The forum is so big, there's probably a healthy bell curve of every demographic in there now. To say that the forum is made up of people who are just sitting in the basement, and don't really have anything to lose, that’s not right. A lot of people may not care about the money not because they have too much, but too little. It may be their stimulus check, and they’re saying, "Well, I don't have anything anyway. This was my only way to maybe make something, but I’d rather send a message with it."

_*TK: What’s Robinhood’s role?*_

SP: Imagine that Wall Street is a big building, Robinhood is basically letting you into the lobby. The barrier to entry to buying and trading and stocks and options with apps like Robinhood really is very low. What we've discovered in the last ten days, though, is that the pen they built for us does not scale well. Big shocker!

It's ironic, for a brokerage that's primarily , that they seem never to have thought about the edge case of millions of people transferring in thousands of dollars in one day, and all buying the same security. I don't think that they really thought about, "Hey, what if this happens?"

_*TK: GameStop crested last Thursday, January 28th, when Robinhood and other platforms began restricting trades in GME and other stocks. Robinhood obviously makes its money selling its “order flow” to a major high-frequency trader, Citadel, which was likely also the firm that made capital calls on Robinhood during the GME frenzy.

A lot of  into restricting trading in GME. Some press analysts think that explanation is conspiratorial. What’s your take?*_

SP: Whether or not they were pressured to kill the rally doesn't matter. The effect was the same. Robinhood’s restriction killed the rally, a hundred percent. That was the only thing that gave all the firms that had short interests a chance to try to recover. Now, the thing that is really insidious is some retail brokerages that locked out their retail traders, if you had an account with a certain minimum amount of money in it, you could call the customer service line that was reserved for your level of account and they would turn trading back on.

So two people using the same trading app could have different market access. It’s just like we were talking about before. When the GameStop thing started, the shorts were like, “Hey, let's just kill this business because it's a pandemic, they're going to close anyway, let's just destroy it.” And then, once we started kicking it in the balls, they changed the game and killed the trade. It was like, "Okay, of course, of course."

As for the conspiracy charge, it makes me laugh. JP Morgan Chase last fall settled for $920 million or whatever in a case . Before that, they would have said, there’s no such thing as spoofing! Same with manipulation of LIBOR. Once upon a time, if you accused the banks of manipulating LIBOR, they’d say, “That’s a conspiracy theory.” Then there   and now everyone knows it happened. With these people, it's always a conspiracy until it isn't. Once they’re found out, it's like, "Oh, you caught us. You're right. It wasn't a conspiracy. But this other thing, that's a conspiracy. That's not happening."

_*TK: What was your reaction to the press coverage of GameStop?*_

SP: The majority of the media that I've seen on WallStreetBets is just incorrect. The stuff that came out really early was trying to label it as a far right-ish type movement, and they got smacked down really hard on that because that’s the opposite of what happens in there. The forum is not political at all. If you post any political bullshit, that is the fastest way to get banned. There’s literally a rule, “No political bullshit.” Nobody wants to hear it. It’s strictly to talk about trades.

_*TK: What’s the future of wallstreetbets?*_

SP: I'm fearful of what could happen. The forum is big now. It’s never going to be ignored again. There are two opposing forces. You have big businesses that are going to try to channel this movement to benefit themselves. But at the same time, you've got a lot of long-time people who've been on there who can sniff out a fraud pretty quickly.

It’s going to be a cat and mouse game. We already see it happening. The biggest one was in silver. Silver is often used as a way for large owners of silver, like in the SLVETF, to cover losses elsewhere. Last week I saw zero advertisements to buy Gamestop stock. Over the weekend, I saw countless news articles and advertisements all over to buy physical bullion. They’re saying, “Silver is going to get pumped. The Reddit crowd is turning to silver.”

_*TK: Yahoo! had “.” CNBC had, “?” It was like wallstreetbets went Hollywood.*_

SP: I'm like, "I’ve got to call bullshit on this." Now, if a large institutional owner of an asset was to, I don't know, take out a bunch of ads and hire some people to post on wallstreetbets and maybe hire some botnets through a cut-out, would that be legal? Sounds like a pump and dump to me, but it also sounds difficult to prove. I'm not saying it's happened. I'm saying it's odd, and it's very possible.

There's going to be a constant battle to direct the Sauron-like gaze of this board now. It’s going to be very difficult to get ahead of that, just like it's difficult to know what the number one meme is for next month.

_*TK: Was a message sent in the GameStop story, and if so, what was it?*_

You had a leaderless group rise up and use whatever market power they had, whether it was buying a hundred thousand shares, or one. Some very established traders who trade for themselves frequent those boards. And then you had people who saw the message, they saw the Batman symbol and they rallied to that. You know how many messages I saw in the thread, of people just lining up? It meant something to them. They got to buy a fractional share of the hero's journey.

But the trade was destroyed. Whether or not that was intentional is not for me to say. All I can say is what happened. Retail brokerages all of a sudden stopped allowing their clients to trade, unless they were of a certain net worth. Banks could do it. Hedge funds could keep doing it. They could still be in the trade. But you and I could not. We could only sell. We could only do the one thing that they would need us to do, to get themselves out of the quagmire. And it wasn't about price at that point. It was about control of physical shares that would allow you to cover.

So yeah, a message got sent. But one was also received. They basically said, “We understand the message you're sending. And here's the message we're sending back.”

But it was worth it.
​


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## Catamount (Feb 7, 2021)

I cannot wrap my head around "they destroyed my family" and "I wanted to work with the hedge-funds/my brother was working in a hedge-fund".
I could if he said that he just wants to be the bad guy so that nobody screws him over again. But he says he is literally an avenger for his own cause.
People are weird.


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## ~Gesy~ (Feb 8, 2021)




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## Eros (Feb 8, 2021)

Isn't what they're doing a fraudulent act? Someone should be tossing them in jail if it is.


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## ~Gesy~ (Feb 25, 2021)




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## Parallax (Feb 25, 2021)

these hedge fund idiots really fucked up a 2nd time lmaooo

Reactions: Funny 3


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## Foxve (Feb 26, 2021)

Lol bought 2 shares of GME when it was like $50. Let's see what happens


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## Magic (Feb 26, 2021)

These memes are great.

Reactions: Winner 1


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## Kingdom Come (Feb 26, 2021)

RemChu said:


> These memes are great.


Lol yeah they really are

Reactions: Like 1


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## Magic (Feb 27, 2021)

Two weeks put options.


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## dergeist (Feb 27, 2021)

RemChu said:


> Two weeks put options.



Puts or calls


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## Magic (Mar 10, 2021)

It went back up for real. 200 to 300 today
Crazy day.

Bitcoin at 56k tooo YEAAAAAH boi


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## ~Gesy~ (Mar 10, 2021)

Man...gamestop is too unpredictable to trust. But I hate not buying in.


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## Magic (Mar 10, 2021)

344 at 12:10 pm to 198 at 12:40 pm, that sell off. To 269 at 12:55pm.

Man  wild ride.


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## Drake (Mar 10, 2021)

Lmao I feel bad for all the sods who sold for a loss... Actually, no I don't. Their paper hands deserve it   

Now I've gone from breaking even to making a decent profit on this stock. Lol.

Reactions: Like 1


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## Foxve (Mar 11, 2021)

Just waiting for that 100k

Reactions: Optimistic 1


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