[Potemkin]

They just helped cover an $80 billion big money investor loss through outright institutional fraud. They will be rewarded, and put in charge of a new company. This will then all continue. Can't punish a defunct company after all.

Socialism for big corps, capitalism for the little guy lol.

Just goes to show - the big players in the capitalist markets are smart enough to realise that socialism is the better system. Lol.

[Rancid]

There are calls for a congressional hearing, but I suspect nothing will come from it. After all congress is in cahoots with these banksters.

[Rancid]

SEC has vowed to protect retail investors (the little guys).

They will likely hand out fines and shit. They should give that fine money to the people that got screwed.

[Heisenberg]

SEC has vowed to protect retail investors (the little guys).

The problem is, as we will soon see, they mean "protect retail investors from themselves."

Best case scenario: Citadel settles without admitting guilt, gets a slap on the wrist fine, retail investors who Robinhood forced to sell their shares will remain fucked.

[Rancid]

The problem is, as we will soon see, they mean "protect retail investors from themselves."

Best case scenario: Citadel settles without admitting guilt, gets a slap on the wrist fine, retail investors who Robinhood forced to sell their shares will remain fucked.

YOu are very much likely correct.

They do in fact need protecting from themselves. Which is just half of the truth here. They are also getting screwed by these brokerage houses too, which is the other half. As you said, they will act on the first half, but not the second.

[Rancid]

Anyone know how much of the trade volume has been covering shorts, versus retail investors buying?

The core of my curiosity is how much of the raise is due to people buying into gamestop, versus people forced to cover shorts.

[colliric]

Both sides of US government are defending their actions.

Ted Cruz and AOC didn't.... Found something to agree on. Lol.

They hate the idea that fans have figured out the best way to get a company to do what you want them to do is buy your right to vote in the company's elections and attend shareholder meetings. They hate the fact Redditors finally figured this out.

Petitions are for chumps.

Buy Wanted Bros shares and put pressure on them to fire Amber Heard.

Lol.

[wat0n]

They just helped cover an $80 billion big money investor loss through outright institutional fraud. They will be rewarded, and put in charge of a new company. This will then all continue. Can't punish a defunct company after all.

Socialism for big corps, capitalism for the little guy lol.

A company to do what? I can imagine them becoming stunk for any attempts to revive their business model under a different name.

Robinhood claims it had to stop because it ran into trouble with the clearinghouse (as it demanded a large deposit on Robinhood's end to have it meet its obligations should the GameStop et. al. stock prices vary a lot, money they didn't have and thus they were forced to stop offering their brokerage services). If so, it may have some sort of argument to defend itself, although I think it's unlikely they would be able to get away with this unscathed under the usual consumer law if the pitch they use to sell their services involves guaranteeing transactions will take place no matter what. The real question is just how much will this cost them.

[libertasbella]

But as @Rancid pointed out, this wouldn't have saved it from bankruptcy - it's just some guys betting on whether the business will continue to fail or not. GameStop won't see a red cent of any of this money.

That's gotta sting, seeing your company's stock skyrocketing and knowing you're still going to have to live at the Red Roof Inn.

[Rancid]

The stock has fallen a lot. It's not going to stop until it gets back down below $20

[Potemkin]

The stock has fallen a lot. It's not going to stop until it gets back down below $20

Indeed. Which just goes to show that you can't save a company from its own failings just by artificially pumping up its share price. The real economy doesn't work like that. But then again, we're dealing with Americans - asking them to show some understanding of the underlying mechanisms of the capitalist mode of production is asking too much of them, clearly.

[/snotty Eurotrash mode off]

[colliric]

The stock has fallen a lot. It's not going to stop until it gets back down below $20

They made their money and they're getting out. Good on them.

[Rancid]

They made their money and they're getting out. Good on them.

Not everyone is making money, many of them are losing money too.

[Potemkin]

Not everyone is making money, many of them are losing money too.

I'm guessing that most of them are losing money. The useful idiots are, anyway - the ones who believed this was all about trying to save GameStop from the wolves of Wall Street. In reality, it was just a scam from the beginning, a way of generating a temporary and predictable (to them) market glitch which they (and there's always a 'they') could cash in on. I take my hat off to them - it was brilliantly planned and executed.

[Rancid]

I'm guessing that most of them are losing money. The useful idiots are, anyway - the ones who believed this was all about trying to save GameStop from the wolves of Wall Street. In reality, it was just a scam from the beginning, a way of generating a temporary and predictable (to them) market glitch which they (and there's always a 'they') could cash in on. I take my hat off to them - it was brilliantly planned and executed.

Agree.

The markets are a cruel mistress. A seductive temptress.

[Potemkin]

Agree.

The markets are a cruel mistress. A seductive temptress.

And a lot of guys are now having to grease up and bend over to get pegged by her....

[noemon]

Sounds like there is a lot of empirical history in here

I did not take any position in the end cause I got put off when I tried it once and could not get the short order in.

It would have been a day trade but still a lot of seduction would have taken place the following days and the stock went a lot more crazy than I thought anyway.

[colliric]

https://www.9news.com.au/world/gamestop ... eea4cdfd3a

Stock appears to be settling at $90 today. Since that's still nearly 4 times the price before the frenzy, people who bought at the beginning of the surge will still make a pretty penny selling now.

Will probably stay there for a bit, which is good news. Alot of WSB Reddit holders.

Only people who bought large when it was above $90 and continued to hold will lose money.

Calling this is a scam is called you having envy. We all knew it hit maximum when they shut out buyers. Especially because everyone was following Reddit.

If you get in at the beginning, when it was less than a $100 you made shitloads.

Not everyone is making money, many of them are losing money too.

Only people that got in at or near the peak will lose.

[Potemkin]

Only people that got in at or near the peak will lose.

They forgot the basic rule of stock market speculation - buy low, sell high. Lol.

[Patrickov]

They forgot the basic rule of stock market speculation - buy low, sell high. Lol.

Those who do that usually see the trend ongoing and fear that they have no chance to ride.