Reddit messes with stock market

[ma96782]

My TD Ameritrade account allows for after-hours trading. Though I've only done it a few times. And, I don't know at what level one has to be at or what limitations might be in place.

Aloha, Mark

 

[Ruger Rich]

Long story short, a bunch of folks online used the stock market exactly like the corrupt hedge fund monopolies do to artificially make money.

When corporations do it to make millions even billions, it's ok.

Bunch of peasants get together online to completely change the game and artificially change the prices through group think and sharing info online, BAD VERY VERY BAD. EVERYONE MUST BE ARRESTED!!!

This should be interesting, seeing the rich scramble to make laws to prevent the poor from playing in their casino.

Sage and accurate observation . . . . .

 

[Cavedweller]

The easy version.....

Aloha, Mark

Hey Mark - Time to pull out that "Wait till we figure out how to blame Trump" meme:

Analysis: How Trumpism explains the GameStop stock surge

At the core of Donald Trump's angry populist appeal was -- and is -- this sentiment: The elites think they know better than you. They think they can tell you how to live and what to believe. But guess what? We the people are smarter than the elites!

www.cnn.com

 

[ma96782]

Just for you Cavedweller....


But then.....Jordon Belfort.....OMG!

Aloha, Mark

 

[Flopsweat]

Check this guy out:
Message from wallstreetbets member

 

[nehalemguy]

It's not only Game Stop that the hedge fund managers have over shorted. Movie theater chain AMC and Lumen Technologies (Century Link) are two stocks also short squeezed these past few days.

I sold my position in Lumen yesterday after seeing is go up 45% in three days. This morning its trending back the other direction. I suspect that the other stocks will do the same in the next few days as people cash out their gains.

I also suspect that this morning there are hoardes of investors looking for other stocks that are over shorted and hedge fund managers desperately trying to close those short positions before they become the next target.

It's going to be a wild few days.

-E-

 

[Member 34319]

Many top dogs are trying to place a kill order on whatever they can.

If it'sa fair and free market, then they shouldn't need to worry!

Oh look, Robinhood is not allowing the purchase of anymore GameStop shares. So much for free market!

 

[parallax]

I got a message from robohood. A trading APP yesterday. They are manipulating the ability to trade due to all us commoners trying to make some money and stick it to the man. LOL.

 

[Member 34319]

I'll be dropping Robinhood after this. Such hypocrisy!

I'll be looking into an actual free trade app.

I've learned something...

Peasants can't make money and screw over big businesses that, by design, screw over peasants!

 

[nehalemguy]

I'll be dropping Robinhood after this. Such hypocrisy!

I'll be looking into an actual free trade app.

I've learned something...

Peasants can't make money and screw over big businesses that, by design, screw over peasants!

I get your point regarding free markets but who in their right mind would want to purchase GME or AMC at this point? It is an unsustainable bubble that is already showing signs of having burst.

IMO these platforms do have a certain amount of responsibility to protect the individual investor...even when that means protecting the investor from themselves.

-E-

 

[Member 34319]

I get your point regarding free markets but who in their right mind would want to purchase GME or AMC at this point? It is an unsustainable bubble that is already showing signs of having burst.

IMO these platforms do have a certain amount of responsibility to protect the individual investor...even when that means protecting the investor from themselves.

-E-

Played right, ride the market up, sell. I won't be holding any of these shares like Reddit users want, as the bubble will burst. One of the larger brokers that has invested huge shorts on Gamestop has already been bailed out by a bigger firm, so they no longer need to buy back the shares.

I only bet a little and it has payed off so far. I'm only betting with money I won at this point.

Growing up in Reno, I knew never to gamble. The house always wins. The stock market is no different.

 

[RicInOR]

Robinhood blocks purchases of GameStop, AMC,
and others after days of Reddit-fueled rallies


How a Bunch of Redditors with $600 Stimulus
Checks Outsmarted Wall Street Hedge-Fund Managers

 

[Bob D]

They are letting all the institutions buy, but only letting retail investors sell. It's a load of hogwash.

 

[Member 34319]

There it goes, bubble popped. Hope those that got in early got out before the drop.


House always wins!

Someone out the crackdown on Robinhood. Limiting purchases on certain stock.

Well, it was fun while it lasted!

That had to be the biggest transfer of wealth in the opposite direction in a century!

 

[Bob D]

There it goes, bubble popped. Hope those that got in early got out before the drop.


House always wins!

Someone out the crackdown on Robinhood. Limiting purchases on certain stock.

Well, it was fun while it lasted!

That had to be the biggest transfer of wealth in the opposite direction in a century!

It was amazing. Still kind of is. I hope there are investigations of the absolute treachery of these online brokers. Apparently AOC is on the case. lol

 

[Member 34319]

It was amazing. Still kind of is. I hope there are investigations of the absolute treachery of these online brokers. Apparently AOC is on the case. lol

If I've learned anything with messing around with this stuff, it's that it won't ever change. After 08, you'd think they would try and change things, nope, only got worse.

Low value day trading only exists because big firms are making huge amounts of money regulating it. In other words, they don't mind letting the poors trade stock valued under $100 as long as they can profit from it.

They didn't calculate in the group think capabilities of social media. Through social media, a huge group of people could rally together and, in a sense, act like a large investment broker does by buying up an entire companies stock, completely F'ing over a bigger brokers plans. When you buy 1-2 shares, no one cares, they charge you fees and profit a little bit at a time. When an online group buys the remaining 20% available shares on a stock that is 120% shorted, OH HELL NO!

 

[RicInOR]

How GameStop exposed the market

What's happening with GameStop's stock is anything but a run of the mill short squeeze.

www.axios.com

Senate panel to hold hearing after high-flying Reddit stocks cause Wall Street chaos

Platforms have limited access to traders that have contributed to the wild activity in stocks like GameStop.

www.axios.com

 

[parallax]

It ain't no fun, when the rabbit has the gun.

 

[RicInOR]

Instapundit » Blog Archive » ROBINHOOD HALTS BUYING OF GAMESTOP AND OTHER HOT STOCKS, INFURIATING USERS: Robinhood also shut dow…

pjmedia.com

 

[ma96782]

Check this guy out:
Message from wallstreetbets member

Thank you for posting that.

As I was "speculating" about a possible cause this morning to my sister......

Perhpas the FREE GOVT MONEY (gotten from the stimulus) had something to do with it? Hummm?

BTW, this next round of stimulus will only be available (it is predicted) to people with even less AGI. Some in Congress think that the money (given out willy nilly) went to the "wrong people". A more "targeted" approach is needed.

LOL......think of the massive "Un-employment Fraud" that took place,

Yeah.....I predicted that and I believe that more fraud will be discovered with the "loan" money given to small businesses.

Rrrrrright......

Don't get me wrong......YES, the economy needed saving and there was some people in dire straights......all because of The CCP Virus. Ooooops.......BIDEN said I shouldn't call it that anymore. As it promotes Anti-Asian feelings.

Rrrrright......he wants to control my FREEDOM OF SPEECH too.

Aloha, Mark

PS....last night my GF (originally from VN) was laughing hilariously while watching some YouTube.

I asked her about what was going on.

Apparently, the VN person who did the video was talking (in VN language) about how much she loved TRUMP and how much anger she had over BI DAO winning the election.

Huh?

I looked it up on Google translate.....Bi Dao (in VN language) = squash
She said like Americans have slang.....so, Bi Dao = Squash Head
She said that there are other names used for him too, among the VN community.

Like what?

BI DUNG

No translation was need for that one.