Reddit messes with stock market

[OldPewPews]

Discussion in this Twitter thread says that Robinhood is owned by Citadel, one of the hedge funds that has a large short position in GME.

Robinhood isn't owned by Citadel or anyone else. However, it has close financial relationships with many investment firms and Citadel is its largest trading partner by far - Robinhood routes more than half of its customer orders through them.

So there are most definitely conflict-of-interest and potential collusion questions to be answered here, given Citadel's hedge fund relationships.

Elizabeth Warren wants the SEC to investigate retail traders in the Reddit group that drove the price of Gamestop up, not the fat cats who were somehow able sell short more of the company's stock than actually exists.

That isn't what that letter says. Like, at all. It's asking for the SEC to report on exactly what happened, whether any illegal market manipulation occurred, to clarify what the rules are regarding illegal manipulation and to recommend rule changes if the situation warrants that. And that applies to the actions of anyone involved, not just regular, retail traders.

Far from being an unreasonable intrusion, these are responsible questions for a member of the Senate banking committee to ask. Both she and the SEC have a responsibility to ensure that people can't illegally game the system and potentially cause the next catastrophic boom-bust bubble. Part of that responsibility necessarily involves figuring whether people did actually do that or not.

 

[Provincial]

While Pocahontas' call sounds reasonable, I suspect that any such "investigation" will result in a "nothing to see here folks, move along" determination.

 

[Flopsweat]

UNITY:

 

[ma96782]

While Pocahontas' call sounds reasonable, I suspect that any such "investigation" will result in a "nothing to see here folks, move along" determination.

If Pocahontas can self-identify as a Native American then......
I can self-identify as a Big Fat Rich Guy.

Only, I don't have the bank account of a Big Fat Rich Guy. Rrrrright.....
And Pocahontas doesn't have a blood quantum level to qualify as a Native American either.

Remind me again.....
Why is she even still in the US CONGRESS?

Aloha, Mark

PS......BUT, But, but......she apologized for that DNA fiasco. LOL.

Hummm......sort of reminds me of that ?guy? Yeah, confused as hell. "The Female lesbian trapped in a male's body."

 

[CamoDeafie]

Why is she even still in the US CONGRESS?

Because enough people voted for her versus the other competitior?

 

[ma96782]

Yup....that surely tells me a lot about her district of voters and probably the same with the voters of Pelosi's, AOC's, Feinstein's, etc...etc..... areas of the country.

Aloha, Mark

 

[BrentN]

Why is she even still in the US CONGRESS?

Because people are super easy to fool.

 

[ma96782]

Yeah...never underestimate the power of the D.

Oh wait....that sounds X rated.

Aloha, Mark

 

[Flopsweat]

Remind me again.....
Why is she even still in the US CONGRESS?

It's not the vote that counts, it's who counts the votes.

 

[CountryGent]

Looks like silver bullion is next: Silver Coin Sites Grind to a Halt as Reddit Horde Takes Aim

 

[gmerkt]

Equities markets in their current state are a form of gambling. And have been for quite some time even before the Robinhooders.

 

[Flopsweat]

Equities markets in their current state are a form of gambling. And have been for quite some time even before the Robinhooders.

And the game is rigged.

 

[Member 34319]

They are making my physical silver more valuable now, thanks to squeezing the idiots gambling on virtual stock.

 

[The Heretic]

 

[The Heretic]

Equities markets in their current state are a form of gambling. And have been for quite some time even before the Robinhooders.

Since before I was born.

But if you are diligent and diversify properly, over the long run, the odds are with the investor and not "the house". Indeed, there really is no "house" in the sense of a casino.

Yes, big investors can manipulate the market, short term.

 

[arakboss]

I feel sorry for the latecomers to the gamestop party. That stock is dropping like rock. Those hedge fund guys are probably going to make money again riding it to the bottom like before. The moral of this story is that if you are going to play with the wallstreetbets type buyers, get in early and get out early.

 

[bolus]

Looks like silver bullion is next: Silver Coin Sites Grind to a Halt as Reddit Horde Takes Aim

we all think that is fake news. All of the media is trying to get people out of GME right now with fake reports and claims (as usual). Citadel owns a ton of silver

Robinhood not allowing people to buy more than 20 shares, Citadel figuratively owning robinhood, all the media pushing silver and non-GME options saying the short is all over, citadel loans Mevlin billions, citadel owns silver....

Meanwhile the SEC knows about counterfeit shares since 2008 and their january 2021 report suggests there are a ton of counterfeit shares in GME as well.

Treat the media the same way you would when they discuss anything gun related - a huge pile of stinking manure.

 

[nehalemguy]

Equities markets in their current state are a form of gambling. And have been for quite some time even before the Robinhooders.

So is driving down the street on any given day. There is risk in almost everything. It gets a little stale when the blanket statement that WS is a casino gets repeated over and over and over.

-E-

 

[nehalemguy]

Looks like silver bullion is next: Silver Coin Sites Grind to a Halt as Reddit Horde Takes Aim

Sweet!! I'm starting to really like these Reddit fellers. Run it up a little more!!!

-E-

 

[CountryGent]

But if you are diligent and diversify properly, over the long run, the odds are with the investor and not "the house". Indeed, there really is no "house" in the sense of a casino.

^ This. A diversified investment portfolio is a great way to build wealth over time. Disciplined investing is nothing like playing casino games.

It gets a little stale when the blanket statement that WS is a casino gets repeated over and over and over.

Indeed.