Gamestop

13COBRA

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so did these guys know who was trying to short gamestop or could they just see the data in aggregate somewhere that there was a huge short against them?

They could just see that there was 138-140% of the GME stock shorted, by someone...knowing full well it was large hedge funds.
 

AustinSN

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Generally if you see $10s of millions swept into options in relatively short amounts of time, it's big money.
 

Pribilof

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So here's a question for the people buying GME:

What is your long term end goal for this trade? Yes, short term the plan is to stick it to hedge funds and show how "corrupt" the system is, or whatever. But long term, what is your plan? Do you truly believe that GME is a great company that you want to own long term? This is a company with deep, structural issues with its core business. If not, when do you sell the stock? When the selling starts, who is buying shares on the other side to support the stock price so it doesn't simply crater as fast (faster) than it went up?
 

quad

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Oh it's happened before, but now it's bad because it's a bunch of small dollar idiots doing it to intentionally spite a big hedge fund. If a hedge fund of investment group does it, it's ok.

And they're free to "legally" deny people business trading on these stocks, just like all the social media sites can all legally deny service to groups talking about it, or other "undesirable" political groups... Crazy to see even google covering for Robinhood and deleting the bad reviews for them.

As George Carlin said, "it's a big club, and you and I ain't in it."
As I understand it RH prevented traders from buying GME but allowed traders to sell it. That would seem to benefit those that shorted the stock because it would only go down after buying was restricted. That does not seem legit to me. Is that even legal? A more fair approach would seem to restrict buying and selling to allow traders to cool off. Or just reduce the volume of trading.
 

Rb0891

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So here's a question for the people buying GME:

What is your long term end goal for this trade? Yes, short term the plan is to stick it to hedge funds and show how "corrupt" the system is, or whatever. But long term, what is your plan? Do you truly believe that GME is a great company that you want to own long term? This is a company with deep, structural issues with its core business. If not, when do you sell the stock? When the selling starts, who is buying shares on the other side to support the stock price so it doesn't simply crater as fast (faster) than it went up?
Dude it is a circus. There is no long term plan and I believe much of it is a protest vote similar to people buying Dogecoin. On the whole it has nothing to do with fundamentals. Merely a protest against a system that truly has shown itself to be unfair and put the few up top over the rest of the people.
 

Corbic

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As I understand it RH prevented traders from buying GME but allowed traders to sell it. That would seem to benefit those that shorted the stock because it would only go down after buying was restricted. That does not seem legit to me. Is that even legal? A more fair approach would seem to restrict buying and selling to allow traders to cool off. Or just reduce the volume of trading.
Free market is let it ride.

Eventually everyone will want to cash in on their record gains and that will drive the price down and as the price collapses more will sell driving down faster
 

SecondhandSnake

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As I understand it RH prevented traders from buying GME but allowed traders to sell it. That would seem to benefit those that shorted the stock because it would only go down after buying was restricted. That does not seem legit to me. Is that even legal? A more fair approach would seem to restrict buying and selling to allow traders to cool off. Or just reduce the volume of trading.

It's one of those things that is only as illegal as the governing body, in this case the SEC, interprets or deems. Us plebs may see it as blatantly illegal, but we're not the ones enforcing it. Given how intertwined the SEC is with Wall St, I wouldn't hold your breath on them interpreting it in a way that they would go after Robinhood. Now the class action lawsuit on behalf of users in the district of New York might be another story. They tend to be rather aggressive and loose with their interpretations when it aligns with their causes (i.e. Trump, NRA, etc...) It depends if their terms and conditions have some clever legal wrangling about denial of certain services.

It's kind of like the ATF debacle. The law states commercially selling a firearm without a background check is illegal. But what is a firearm? Is it the barrel? Is it certain parts? Does it have to be functional? All of that is up to them to "interpret." Allowing the government to effectively make laws based on their interpretation that can change with the wind is a dangerous game in my opinion, but that's just me, man.

EDIT: Also take into account the result if it is found illegal. Slap RH with a $500,000 fine when they saved their parent company $1B in losses, and it's a smart investment. The way a rich guy sees a $60 parking ticket as just the price of parking.
 

03Sssnake

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0FE53975-F668-4D8D-89B0-1DA0BE415AD9.jpeg
 

Corbic

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EDIT: Also take into account the result if it is found illegal. Slap RH with a $500,000 fine when they saved their parent company $1B in losses, and it's a smart investment. The way a rich guy sees a $60 parking ticket as just the price of parking.

Bingo.

What's a few million in fines compared to $70 billion in losses?

The retail trader apps are not meant to make peasants money. They are meant to have peasants dump their savings into the market to help hedge funds make money.
 

SecondhandSnake

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Bingo.

What's a few million in fines compared to $70 billion in losses?

The retail trader apps are not meant to make peasants money. They are meant to have peasants dump their savings into the market to help hedge funds make money.

If anything I've seen reports that Robinhood makes its money for the big boys on their users data. They sell what individual traders are doing to the big guys to make money, like high frequency traders or big funds noticing trends of users buying shorts/calls etc...

...basically exactly what individuals are doing them. Now they're not happy when the shoe is on the other foot, when the investors figure out the squeeze on a big fund.
 

Corbic

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If anything I've seen reports that Robinhood makes its money for the big boys on their users data. They sell what individual traders are doing to the big guys to make money, like high frequency traders or big funds noticing trends of users buying shorts/calls etc...

...basically exactly what individuals are doing them. Now they're not happy when the shoe is on the other foot, when the investors figure out the squeeze on a big fund.
Also, if you look how slow RH is, there's now way to pivot quickly with it.

3-5 days to transfer money, up to 24hrs to complete a trade.


Meanwhile the big boys do it in micro seconds.
 

Lemmiwinks

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So here's a question for the people buying GME:

What is your long term end goal for this trade? Yes, short term the plan is to stick it to hedge funds and show how "corrupt" the system is, or whatever. But long term, what is your plan? Do you truly believe that GME is a great company that you want to own long term? This is a company with deep, structural issues with its core business. If not, when do you sell the stock? When the selling starts, who is buying shares on the other side to support the stock price so it doesn't simply crater as fast (faster) than it went up?

Going into GME is a $300 middle finger.
Nothing more, nothing less.

It's a modern age demonstration, anarchy at Wall Street.

People are pumping thousands of dollars into this knowing damn well its all money they'll loose. If they believe anything different they're crazy.

But one million people pumping 1000 dollars each is a lot of money as you can imagine.
 

Mpoitrast87

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So here's a question for the people buying GME:

What is your long term end goal for this trade? Yes, short term the plan is to stick it to hedge funds and show how "corrupt" the system is, or whatever. But long term, what is your plan? Do you truly believe that GME is a great company that you want to own long term? This is a company with deep, structural issues with its core business. If not, when do you sell the stock? When the selling starts, who is buying shares on the other side to support the stock price so it doesn't simply crater as fast (faster) than it went up?
Nobody cares about GameStop Itself. Goal is to hold enough stock to shoot the price up and when that happens we dump it. The goal is $1000 per share. Next time it rally’s above $500 I’ll probably pull out. Takes to much energy to keep up with this stuff
 

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