The story so far.
Along comes Redit and Robinhood, they aggregate lots of
Now if you are a fancy Hedge Fund and you tell everyone that you are shorting Gamestop, people will think that is where the smart money is and that should push the price down. That is not respectable business practice.
Fair play. That is done chunk of change..I bought 194 shares at 77.90 and sold on Friday at 333. Made about 50k for buying and selling in a week. But its going to get nasty come Monday - if the people who control the market are going to lose, they'll change the rules and everyone holding GME in large amounts will lose badly.
Tell me Wolfie, wouldn't naked shorting be complete and utter fraud? So effectively there's no proper record of ownership of equities - which facilitates this fraud? Who will be jailed for the 38% excess claims over and above actual Gamestop stock that emerged as part of this sham?Isnt a critical part of this story the 'naked' short sell also? That is, selling shares that they don't own and those shares amounting to more than 100% of the actual issued shares? I think in this instance, somewhere between 120%-130%.
Robinhood's CEO went on network TV and stated that the company had no liquidity issue (in responding to questions to explain away the rug pull in terms of preventing customers from buying Gamestop stock). Within hours, it emerged that it had raised $1 billion from investors.landlord said:Perhaps Robinhood has liquidity issues
Thursday's carry-on at Robin Hood was disgraceful. They actively stopped traders from buying while allowing traders to sell, thereby artificially impacting the price.
Even now, they have severe restrictions on buying, yet none on selling.
Free market!?
Fair play. That is done chunk of change..
Do you play the markets regularly?
Well done! You got rewarded for taking the risk and cgt tax on that will help with the vaccines distribution!I bought 194 shares at 77.90 and sold on Friday at 333. Made about 50k for buying and selling in a week. But its going to get nasty come Monday - if the people who control the market are going to lose, they'll change the rules and everyone holding GME in large amounts will lose badly.
Didn't know Degiro allowed people use margin. did you have to take an exam to prove you understood the risks, I had to take an "exam" to prove I understood "complex investments" just to buy an investment trust recently and it wasn't a trivial one either. I presume you were always able to trade it though on degiro not like Robinhood so you could have exited it at any time. Id say Thursday night was the sleepless one. Fair play thoughI invest using Degiro regularly but I wouldn't say I "play the markets" though. I was just very lucky and to be honest it was very dangerous and I shouldn't have done it. I invested 4k and then decided to use another 10k on margin,
That scares me a lot. The new subprime is with all those zero cost brokers to my viewRobinhood's CEO went on network TV and stated that the company had no liquidity issue
Twitch founder, Justin Kan was issued with a cease and desist for tweeting a tip that he got claiming that Citadel re-up'ed their shorts just before Robinhood locked down GME purchasing. Hopefully it all comes out in the wash.There may be a reasonable explanation but there also appears to be grounds for an SEC investigation.
Isnt a critical part of this story the 'naked' short sell also? That is, selling shares that they don't own and those shares amounting to more than 100% of the actual issued shares? I think in this instance, somewhere between 120%-130%.
I dont know how these things operate but it is clear corrupt practices overseen by very sleepy regulators, until the little guys get in of course.
It is a fascinating story so far.
The downside is that it will put professionals off short-selling if a group of amateurs, conspiring together, can exploit the unlimited upside to bankrupt them.
Didn't know Degiro allowed people use margin. did you have to take an exam to prove you understood the risks, I had to take an "exam" to prove I understood "complex investments" just to buy an investment trust recently and it wasn't a trivial one either. I presume you were always able to trade it though on degiro not like Robinhood so you could have exited it at any time. Id say Thursday night was the sleepless one. Fair play though
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