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ArbitraryC posted:If it's so easy to wreck some big hedgefunds by propping up stock that should be any reasonable metric be failing how come that doesn't happen more often in a rich vs rich person scenario. I have a hard time believing there's so much collusion there's absolutely no one up top willing to take down other rich people in the name of their own profit. Is it just sort of a mutually assured destruction thing where it's taboo because they'd all ruin each other? it's because betting against the shorts is just as risky and self-destructive as the shorts are, arguably more so. so any individual investor would have never put all their chips on this gambit a large group of stupid people though? 
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Jan 28, 2021 17:15
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Mr_Companie posted:
Poor people are being manipulated into sticking it to the fat cats and making bank for it. Better arrest em!
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Jan 28, 2021 17:17
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Katamari Democracy posted:Poor people are being manipulated into sticking it to the fat cats and making bank for it. Better arrest em! Yeah, the stock price dropped 100 dollars in five minutes. All these redditors are so smart. I wonder who it was that dumped their position first?
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Jan 28, 2021 17:18
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Mr_Companie posted:Yeah, the stock price dropped 100 dollars in five minutes. All these redditors are so smart. I wonder who it was that dumped their position first? Hell if I know man but either way people are getting hosed and its hilarious. Lighten up
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Jan 28, 2021 17:20
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Mr_Companie posted:No, dumbass; it was criminal when martha stewart and the wolf of wall street did it. It was also criminal when some anonymous reddit posters started this who probably bought a bunch of gamestop stock first. it isn't illegal if you're not lying "$GME is shorted 260%, if the price goes up all those shorts will have to buy to cover themselves and we'll get huge gainz" isn't a lie, it's an actual statement of fact "$GME is going to the mooooooooooooon! HODL!!!!1!" isn't a lie, it's the opinion of an idiot. WILDTURKEY101 posted:sounds like we got a good system we have a system that is neither good nor bad, but works. it works better if it's strongly regulated. unfortunately at the moment it is not strongly regulated, but the answer isn't to fight fire with fire. unless your desire is to burn the whole thing down. Klyith fucked around with this message at 17:23 on Jan 28, 2021 |
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Jan 28, 2021 17:20
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the owner of Piggy Wiggly borrowed a shitload of money to buy all the outstanding shares in his own company when it was massively shorted. when it came time for the shorts to close out...the NYSE halted trading in the stock, abrogated the terms of the short sales, and gave the shorts time to find naive investors who held piggly wiggly to sell to them. so the piggly wiggly guy wound up owning like 90% of his publicly-traded company but also went bankrupt lol the point is, i'm sure they would like to do something liek that in this case, but how would it even work? i dont think theres a huge reserve of non-redditors holding GME willing to part with it for 10% of market value
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Jan 28, 2021 17:20
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Mr_Companie posted:Yeah, the stock price dropped 100 dollars in five minutes. All these redditors are so smart. I wonder who it was that dumped their position first? Probably some slicked back hair wall street guy
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Jan 28, 2021 17:20
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Klyith posted:destroying a couple hedge funds, at the cost of thousands of people becoming destitute after they bought gamestop at $500, is not worth it It’s impossible to cheat an honest man.
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Jan 28, 2021 17:20
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Stock is being continuously halted to the downside. Now down from a high of $513 to $126. All the people who heard about it when it went viral and bet big yesterday or this morning are getting absolutely wrecked.
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Jan 28, 2021 17:22
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Can i just say that as a poor person nothing pisses me off more than when my poor friends talk about stocks Saying that this reddit thing I don't understand seems funny? If rich people are losing out then it's good
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Jan 28, 2021 17:22
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Pawn 17 posted:Stock is being continuously halted to the downside. Now down from a high of $513 to $126. All the people who heard about it when it went viral and bet big yesterday or this morning are getting absolutely wrecked. Holy poo poo what a swing. Some people are gonna be wiped out.
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Jan 28, 2021 17:25
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eSports Chaebol posted:the owner of Piggy Wiggly borrowed a shitload of money to buy all the outstanding shares in his own company when it was massively shorted. when it came time for the shorts to close out...the NYSE halted trading in the stock, abrogated the terms of the short sales, and gave the shorts time to find naive investors who held piggly wiggly to sell to them. so the piggly wiggly guy wound up owning like 90% of his publicly-traded company but also went bankrupt lol note that this was in the 1920s
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Jan 28, 2021 17:26
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Power to the Players
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Jan 28, 2021 17:26
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Pawn 17 posted:Stock is being continuously halted to the downside. Now down from a high of $513 to $126. All the people who heard about it when it went viral and bet big yesterday or this morning are getting absolutely wrecked. it might actually work, the conspiracy to prevent people from buying but allowing sales, in addition to slowing it from being run up more, will probably shake confidence and encourage sales. if you bought already it still seems like it would be pretty silly to sell today instead of tomorrow. then again if you bought late and are selling because you are just now realizing that trading stocks is inherently a bad idea, which just might be a lot of people in this case, that's pretty rational
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Jan 28, 2021 17:28
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Everyone is in this thread like "the people who conspired to make this happen and got thousands of redditors involved did nothing wrong"
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Jan 28, 2021 17:29
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i'm a degenerate gambler AND i gently caress around on Robinhood but this whole GME thing seemed too crazy even to me when it started being talked up. I will bet 100 dollars on a horse race without blinking if I'm in the mood and it seemed too dumb even to me.
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Jan 28, 2021 17:30
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Klyith posted:note that this was in the 1920s hey now there are more recent things too, like in the 1950s a guy bought the rights to ALL THE ONIONS (futures) in america and tried to make a huge buck not just by hoarding the onions, no, but by being extra clever: makes moves as though hoarding was his plan, then furtively shorting onion futures, THEN flooding the market with cheap onions. no it didnt work, and yes it failed because they retroactively changed the rules onions are still the only crop you cant buy futures of in america
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Jan 28, 2021 17:31
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Mr_Companie posted:Everyone is in this thread like "the people who conspired to make this happen and got thousands of redditors involved did nothing wrong" its not that, its just that its no more wrong than jim cramer doing a single episode of mad money (which to be fair is pretty wrong)
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Jan 28, 2021 17:31
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Mr_Companie posted:Everyone is in this thread like "the people who conspired to make this happen and got thousands of redditors involved did nothing wrong" Dont you have some panicking phone calls to make instead of trying to change goons minds about how you think it's not funny?
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Jan 28, 2021 17:32
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I feel a disturbance in the world, as if thousands of tendie and Funko budgets dried out and evaporated... Lmao
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Jan 28, 2021 17:32
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eSports Chaebol posted:its not that, its just that its no more wrong than jim cramer doing a single episode of mad money (which to be fair is pretty wrong) Yes, the people who organized this are just Jim Cramer's are Gordon Gecko's with reddit accounts who knew which way the wind was blowing. Katamari Democracy posted:Dont you have some panicking phone calls to make instead of trying to change goons minds about how you think it's not funny? And it's hilarious, but the grown up goons who thought they were going to stick it to wall street propping up their favorite strip mall store get real defensive when you point out this is all a scam.
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Jan 28, 2021 17:33
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I don't know why anyone is upset. It isn't real money and it isn't real product. 
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Jan 28, 2021 17:35
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Mr_Companie posted:Everyone is in this thread like "the people who conspired to make this happen and got thousands of redditors involved did nothing wrong" Look, I worked for TMF (I still do, but I'm on break right now and not sure if I'm going back). This is no different than the poo poo we do all the time.
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Jan 28, 2021 17:35
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Made a small profit on SNDL before RobinHood kicked them off. After I get out of ZOM and get my tax forms from RH I'm out, gently caress them.
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Jan 28, 2021 17:36
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Mr_Companie posted:
The only person who is bitching and getting defensive about this is you. VVV This guy gets it.
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Jan 28, 2021 17:36
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imagine being so far up your own rear end you get irritable at goons instead of laughing at people who dedicated their lives to stocks freaking out
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Jan 28, 2021 17:37
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Mr_Companie posted:Yes, the people who organized this are just Jim Cramer's are Gordon Gecko's with reddit accounts who knew which way the wind was blowing. the only reason that this is playing out the way it is, is because it collectively self-reinforcing. if it actually all was According to Keikaku by Citadel or Ryan Cohen or some other figure, it is out of their hands now. and i suspect it really was the early redditors who were open about it and how much money theyve made. im sure it is going to inspire a shitload of astroturfing though: there seems to be evidence that AT LEAST Nokia is trying to get in on this deliberately
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Jan 28, 2021 17:38
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Robo Reagan posted:imagine being so far up your own rear end you get irritable at goons instead of laughing at people who dedicated their lives to stocks freaking out
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Jan 28, 2021 17:39
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Mr_Companie posted:Everyone is in this thread like "the people who conspired to make this happen and got thousands of redditors involved did nothing wrong" r/wallstreetbets does poo poo that's morally wrong all the time. like telling people how to exploit a sequence of actions in the robinhood app to leverage themselves way more than should have been possible, and then laughing as someone watches a $10k investment turn into $0 on a 3% loss. but that's not illegal. that's just pointing someone towards a roulette table and saying "if you put all your money on 7 you'll win 100x more if it comes up 7!"
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Jan 28, 2021 17:41
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Deze nuts only $300 a share, and sure to improve in value. Paypal accepted.
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Jan 28, 2021 17:43
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That’s not the odds in roulette!
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Jan 28, 2021 17:45
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Colonel Cancer posted:I feel a disturbance in the world, as if thousands of tendie and Funko budgets dried out and evaporated... Lmao 
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Jan 28, 2021 17:47
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Ja's got your back https://twitter.com/jarule/status/1354812123080138759
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Jan 28, 2021 17:47
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there was a guy who made a ton of money on roulette at monte carlo in the late 19th century because he studied the spins and realized that the wheels were not perfectly true and had a tiny but statistically significant bias that allowed him to run up a ton of winnings before he was figured out of course he needed a huge bankroll in the first place to do this https://en.wikipedia.org/wiki/Joseph_Jagger
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Jan 28, 2021 17:48
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Yeah people gaming a system in their favor is nothing new and it's not a crime. Michael Larson figured out how to completely put the game Press your Luck in his favor and I wish I was a fly in the room to see the producers sweat their asses off watching him literally rob them in broad daylight. https://www.youtube.com/watch?v=bfOm7K8A0Pw
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Jan 28, 2021 17:50
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Any $$$ nerds want to tell me how freezing out any option to buy isn't manipulation?
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Jan 28, 2021 17:51
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I actually think this is the last flight out on these kind of trades. Now that I know what is actually going on, a short squeeze like this or any of the other ones probably won't come along again even without regulation. LOL probably, but the banksters won't be stupid enough to get into that position again?
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Jan 28, 2021 17:52
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That article is devastatingly short. This has convinced me to go gamble 350 dollars. I’ll let you know how I did and if investing in GameStop would’ve been a better idea
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Jan 28, 2021 17:52
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WhyteRyce posted:Ja's got your back This is all a Prisoner's Dilemma game playing out in real life. Like, of course a bunch of people decided to sell at 450 dollars! The short sellers are gonna come in and take everybody's lunch like they planned on doing the whole time. Katamari Democracy posted:Yeah people gaming a system in their favor is nothing new and it's not a crime. This dude is amazing and props to anyone who finds a way to win like this. I got in on NBA top shot two weeks ago, can't wait until reddit blows that up too.
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Jan 28, 2021 17:53
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It turns out that Wall Street does have values beyond pure avarice, just not the ones you though https://www.youtube.com/watch?v=MrruG6nU_zY&t=64s
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Jan 28, 2021 17:53
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