Reddit messes with stock market

[ma96782]

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

Yup....in an effort to protect their RICH investors.

Aloha, Mark

PS.......

Citadel denies any connection with the various brokerage's decisions to "stop trading" in certain stocks.

 

[ma96782]

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

Thank you for posting that link.

It lead me to this article which I found interesting.....
r/WallStreetBets administrator pens open letter to CNBC about hedge fund leverage - Axios

Aloha, Mark

 

[Provincial]

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!

It turns out that Robinhood depends on someone else to make the trades. Guess who? Citadel, the same company that bailed out the hedge fund caught up in the short squeeze.

How do you say "market manipulation?"

 

[RicInOR]

Redditors congratulated themselves for claiming a hedge-fund scalp, and Bloomberg's John Authers called it an act of class warfare. A more likely explanation is that trading stocks can be fun and exciting—especially when you make money at it.

The GameStop Boom

What a difference a year makes. Last year, hedge-funders were throwing up their hands and complaining about how much harder it was to make money. Algorithms moved so fast and bought so much stock that individual active traders, even if they had lots of capital, couldn’t move markets like they...

www.city-journal.org

 

[Flopsweat]

So it turns out that WallStreetBets is a pretty diverse group. They have one thing in common - they hate the pay to play, insider trading, rules for thee but not for me crowd. Sounds like most of the middle, actually. They don't like when powerful people or groups collude with politicians. So of course they must be crushed. Look for bailouts of the funds and prosecutions of the little guys.

 

[ma96782]

Robin Hood is now saying (after the marker close, mind you, 01-28-2021/1400 hrs Pac Time).......

That tomorrow (Friday) they will allow "limited" trading in some stocks.

Aloha, Mark

 

[parallax]

Robin Hood is now saying (after the marker close, mind you, 01-28-2021/1400 hrs Pac Time).......

That tomorrow (Friday) they will allow "limited" trading in some stocks.

Aloha, Mark

Yep i got an email about an hour ago

 

[RicInOR]

 

[parallax]

Hope I'm not beating a dead horse here
I wonder how nefarious it would be for , let's say thousands of us on this forum were to start throwing all our extra money at firearms stocks like
SWBI
RGR
VSTO
OLN
POWW

 

[bolus]

Crazy ride! I'm hoping to see a lot of hedge blood tomorrow.

 

[made in china]

View attachment 815903

And then she accused him of trying to kill her and he should resign. What a mess.

 

[ma96782]

Politics makes for some strange bedfellows.

Aloha, Mark

PS....careful who you lay with, you might wake up with fleas.

 

[Provincial]

Or worse ............

 

[ma96782]

I figure that even though Robin Hood has reversed course.

Well, that stop today (Thursday).......allowed many of those Hedge Fund Guys to escape.

Talk about fixing the market.


Aloha, Mark

 

[Flopsweat]

I figure that even though Robin Hood has reversed course.

Well, that stop today (Thursday).......allowed many of those Hedge Fund Guys to escape.

Talk about fixing the market.
View attachment 815929

Aloha, Mark

Also some folks may have been ready to make some profit. It would be a good time if that's why you bought.

 

[ma96782]

Actually.....I did not take part in the fun. Chart is from 01-28-2021



High of the day: $483.00
Low of the day: $112.25



Aloha, Mark

 

[Cavedweller]

Hope I'm not beating a dead horse here
I wonder how nefarious it would be for , let's say thousands of us on this forum were to start throwing all our extra money at firearms stocks like
SWBI
RGR
VSTO
OLN
POWW

Why? Have any of them been targeted by short sellers?

The only reason the scheme worked with Gamestop was because the weasels on Wall Street had sold short 140% of the total shares of the company. That's more than the actual shares of stock in existence. So, when the Reddit geeks bought in forcing the price up, and the hedge funds had to cover their margin calls, there was not enough stock available for them to cover their short sales, forcing them to bid insanely high prices and take huge losses. It was a very special situation.

It wouldn't work for every stock. VSTO, for example, has been on the rise lately. It may be a good investment, but not a candidate for the kind of scheme the Reddit geeks hatched.

 

[bolus]

What are you guys putting your sell limits at? I'm doing $56,765 so I can get a new Supra with my share. Not being greedy with a lambo or anything.

 

[Member 34319]

Hope I'm not beating a dead horse here
I wonder how nefarious it would be for , let's say thousands of us on this forum were to start throwing all our extra money at firearms stocks like
SWBI
RGR
VSTO
OLN
POWW

Firearm stock is fairly moot, and most of it % wise is stuck in huge investment firms hands. Very little actually exists to make any good money off of trading it. Having say 1% of ano given gun companies stock on the other hand, could pay really well in dividends. Not that you could ever acquire that much of any of their shares.

 

[ma96782]

Losses on short positions in U.S. firms top $70 billion - Ortex data

Short-sellers are sitting on estimated losses of $70.87 billion from their short positions in U.S. companies so far this year, data from financial data analytics firm Ortex showed on Thursday. The hefty losses come as shares of highly-shorted GameStop jumped more than 1,000% in the past week...

finance.yahoo.com

Aloha, Mark