what you think is gonna be the fall out on this?
Nothing substantial. Best outcome at this point is a successful class action lawsuit against Robinhood and the other platforms that engaged in this. They’re gonna fall on the dagger for Wall Street.
Bought a few shares of GME through my Chase investment portfolio
Probably gonna transfer my Robinhood account to TD Ameritrade soon (I know they were restricting earlier in the day as well, but I've been wanting to take off the training wheels for a while anyway, and TD has their own clearing house not Apex)
They gave up on hiding the f***ery now
keep in mind: it’s only illegal if they go to jail. and no one will see prison because of this. the wealthy set the rules and leave the rest squirming in the mud
Never seen a subreddit grow this fast since the fappening
I’m still muddy on what actually caused all this mayhem today
a number of trading platforms halted sales on popular stocks, hid different stocks from search, and even sold people’s shares without authorization to prevent various parent finders and billionaire hedge funds to pull out their shorts before retail investors could squeeze their shorts to the point that these funds go bankrupt
this is highly illegal and there may be SEC collusion and the biden admin hasn’t commented on it
I only have the faintest of passing understanding of what's going on here, can someone give me the jest?
Are we basically watching the complete collapse of the stock market?
no but this is extreme disillusionment
people from both wings are arriving at the conclusion that the rich are a disease
no but this is extreme disillusionment
people from both wings are arriving at the conclusion that the rich are a disease
OH YAY! WE'RE GOING TO EAT THE RICH
I only have the faintest of passing understanding of what's going on here, can someone give me the jest?
Are we basically watching the complete collapse of the stock market?
Basically some hedge funds buy a short position on GameStop
This means they essentially borrow GameStop shares at a price because they think the price will drop and they can sell those shares and buy back at a lower price picketing the difference
They did this to an extent where 140% of all shares were shorted so people owe more shares than exist
Reddit saw this and started buying pushing the price up which means the hedge funds have to pay a higher price for those shares and lose more and more money the higher the price goes
Price went up like 15x creating billions in losses
Hit $500 last night and today Robinhood suspended trading of it cause the price to drop so that hedge funds can start to make back their losses and started selling peoples shares for them which is wildly unethical if not utterly illegal
There’s rumors this directive came from the top hedge fund execs and the white house
It’s wild I’m seeing Tucker Carlson talk about how Wall Street need regulations and how they’re hurting the lower class
What the f*** is this timeline
They halted purchases of a stock so that the price would drop and the hedge fund could cover their asses
Thanks for the info
a number of trading platforms halted sales on popular stocks, hid different stocks from search, and even sold people’s shares without authorization to prevent various parent finders and billionaire hedge funds to pull out their shorts before retail investors could squeeze their shorts to the point that these funds go bankrupt
this is highly illegal and there may be SEC collusion and the biden admin hasn’t commented on it
Absolute power corrupts absolutely
S*** might really go to the moon tomorrow
It’s wild I’m seeing Tucker Carlson talk about how Wall Street need regulations and how they’re hurting the lower class
What the f*** is this timeline
Bc most right political figures in america are only socially conservative I think
Citadel willing to let Robinhood burn bc they understand there’s a bigger risk here lmao
Someone give me a reason why options trading should even exist
? This doesn’t really have anything to do with options
so they haven't caught on to $BBW yet? lets ride
nigga did you just advise me to buy meme stock in build a bear
....
I'm really about to do this too
Bc most right political figures in america are only socially conservative I think
No lol definitely not
It’s just that at the core most everyday Americans hate politicians and hate Wall Street and hate the elites
Political parties make elections about divisive social issues like abortion to prevent a consensus forming among the non-ruling class