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Offline Rama Set

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Wall Street v Wall Street Bets
« on: January 27, 2021, 11:03:13 PM »
I fucking love everything that is happening right now with the Game Stop stocks.  I wish I had an investment account so I could get involved in fucking over a hedge fund or two.  It is really sad how the whole affair exposes the one loyalty every American media outlet and politician has: the money.  A bunch of retards on reddit start gaming the system like billionaires do on the daily and you get the head of NASDAQ calling for increased regulation on stonks and CNBC talking about shutting down discussion of stonks on social media groups.  Its hilariously corrupt and backwards.

Anyone got some GME they want to share?
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Offline crutonius

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Re: Wall Street v Wall Street Bets
« Reply #1 on: January 28, 2021, 12:47:29 AM »
https://www.reddit.com/r/wallstreetbets/

Alas it has been set to private.

Too bad.  I would gladly contribute $200 to annihilate a hedgefund.

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Offline Rama Set

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Re: Wall Street v Wall Street Bets
« Reply #2 on: January 28, 2021, 12:54:14 AM »
https://www.reddit.com/r/wallstreetbets/

Alas it has been set to private.

Their discord was banned for bad words too.

Quote
Too bad.  I would gladly contribute $200 to annihilate a hedgefund.

You don’t need to go to the subReddit just use your money to buy a fraction of a share.


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Offline honk

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Re: Wall Street v Wall Street Bets
« Reply #3 on: January 28, 2021, 01:29:20 AM »
Deliberately manipulating the stock market is going to get you negative attention from the media and government, yes. I don't think it's especially relevant that the people doing the manipulating hang out on reddit, insist that they're not very smart, and frequently make jokes and memes. Their dollars are worth as much as anyone else's, and they can invest in the stock market as easily as any businessperson can. The stock market and investing in general have always been highly regulated, and the rules don't go away just because you're a kid talking about "stonks" on reddit.
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Offline Rama Set

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Re: Wall Street v Wall Street Bets
« Reply #4 on: January 28, 2021, 01:51:44 AM »
The double standard is the issue. The hedge fund that shorted Gamestop was actively trying to bring about GameStop’s bankruptcy for profit. The redditors fucked them over by broadcasting publicly available knowledge. There is a difference between their actions. No one gave a shit about what the hedge fund was up to but the redditors have no gone too far? It’s a laughably thin cover for oligarch’s crying because they got punched in the nose and are mad at the filthy masses.
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Offline crutonius

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Re: Wall Street v Wall Street Bets
« Reply #5 on: January 28, 2021, 01:53:38 AM »
Pump and dump schemes are illegal.  This isn't that.  This is throwing away $1 to cost a hedgefund $1000.

I don't think that investing for spite is specifically illegal yet.

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Offline Rama Set

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Re: Wall Street v Wall Street Bets
« Reply #6 on: January 28, 2021, 01:55:27 AM »
Pump and dump schemes are illegal.  This isn't that.  This is throwing away $1 to cost a hedgefund $1000.

I don't think that investing for spite is specifically illegal yet.

There isn’t any evidence of pump and dump from WSB’s. All indications are that they want to keep pushing the price up further. The higher the price the more hilarious it is.
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Offline crutonius

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Re: Wall Street v Wall Street Bets
« Reply #7 on: January 28, 2021, 02:02:12 AM »
Down 16% in afterhours trading.  This is why the reddit is useful.  I'd like to have a feel for what that hivemind is thinking.

The media's reaction is predictable and disappointing.  They're trying to mischaracterize it.

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Re: Wall Street v Wall Street Bets
« Reply #8 on: January 28, 2021, 03:14:44 AM »


Who knew billionaires were such a whiny bunch of bitches?

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Offline Rushy

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Re: Wall Street v Wall Street Bets
« Reply #9 on: January 28, 2021, 03:30:19 AM »
The double standard is the issue. The hedge fund that shorted Gamestop was actively trying to bring about GameStop’s bankruptcy for profit. The redditors fucked them over by broadcasting publicly available knowledge. There is a difference between their actions. No one gave a shit about what the hedge fund was up to but the redditors have no gone too far? It’s a laughably thin cover for oligarch’s crying because they got punched in the nose and are mad at the filthy masses.

Wallstreetbets should play by the same rules: start picking real estate trusts and short them into oblivion. Bankrupt landlords overnight while making money doing it. We'll suddenly see Wall Street's tune change about how great shorting is for the market. This is just another case of "rules for thee not rules for me" where big institutions are crying about getting blasted by what they consider to be the peasantry.

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Offline Fortuna

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Re: Wall Street v Wall Street Bets
« Reply #10 on: January 28, 2021, 03:48:44 AM »
The most hilarious thing about this is people being surprised at the big money/media corruption. As if they thought their own institutions and markets were pure and always played by the book.
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Offline Rushy

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Re: Wall Street v Wall Street Bets
« Reply #11 on: January 28, 2021, 02:12:15 PM »
Many users are now reporting that TD Ameritrade and Robinhood are not allowing them to purchase stocks such as BB, GME or AMC. Larger institutions are now showing just how much control they can exert.

« Last Edit: January 28, 2021, 02:13:57 PM by Rushy »

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Offline Lord Dave

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Re: Wall Street v Wall Street Bets
« Reply #12 on: January 28, 2021, 03:01:30 PM »
Many users are now reporting that TD Ameritrade and Robinhood are not allowing them to purchase stocks such as BB, GME or AMC. Larger institutions are now showing just how much control they can exert.



This is gonna cause all stock trading firms to add a new requirement: minimum $1,000 purchase to trade stocks.
If you are going to DebOOonK an expert then you have to at least provide a source with credentials of equal or greater relevance. Even then, it merely shows that some experts disagree with each other.

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Re: Wall Street v Wall Street Bets
« Reply #13 on: January 28, 2021, 03:09:27 PM »
Deliberately manipulating the stock market is going to get you negative attention from the media and government, yes.
Quelle surprise, Saddam has no idea what he's talking about, but has a strong (wrong) opinion anyway.

Hedge fund investors manipulating the market: I sleep
Private citizens buying retail amounts of stock because they spotted blatant market manipulation: oh no won't somebody please think about the children

Unfortunately, as amazing as this whole situation is, it'll probably result in nothing because, well, people like Saddam exist. The media will pump out their narrative, idiots will eat it up, the market will reset through questionable means, and the poor will continue to get poorer because capitalism good.
« Last Edit: January 28, 2021, 03:12:16 PM by Pete Svarrior »
Read the FAQ before asking your question - chances are we already addressed it.
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Offline Lord Dave

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Re: Wall Street v Wall Street Bets
« Reply #14 on: January 28, 2021, 03:14:19 PM »
Deliberately manipulating the stock market is going to get you negative attention from the media and government, yes.
Quelle surprise, Saddam has no idea what he's talking about, but has a strong (wrong) opinion anyway.

Hedge fund investors manipulating the market: I sleep
Private citizens buying retail amounts of stock because they spotted blatant market manipulation: oh no won't somebody please think about the children

Unfortunately, as amazing as this whole situation is, it'll probably result in nothing because, well, people like Saddam exist. The media will pump out their narrative, idiots will eat it up, the market will reset through questionable means, and the poor will continue to get poorer because capitalism good.

They aren't sleeping that well if they're plan to short sell backfired. At best they're having late night meetings demanding someone fix this so it won't happen again.
If you are going to DebOOonK an expert then you have to at least provide a source with credentials of equal or greater relevance. Even then, it merely shows that some experts disagree with each other.

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Offline Rama Set

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Re: Wall Street v Wall Street Bets
« Reply #15 on: January 28, 2021, 03:14:50 PM »


Probably. Maybe Melvin dying can be part of the reset and some retail traders will have a solid retirement. I call it a win and progress of a sort.
« Last Edit: January 28, 2021, 03:18:38 PM by Rama Set »
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Offline Pete Svarrior

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Re: Wall Street v Wall Street Bets
« Reply #16 on: January 28, 2021, 03:16:31 PM »
Probably. Maybe Melvin dying can be part of the reset and some retail traders will have a solid retirement. I call it a win and progress of a sort.
Best case scenario - one can always hope!
Read the FAQ before asking your question - chances are we already addressed it.
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Offline Rama Set

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Re: Wall Street v Wall Street Bets
« Reply #17 on: January 28, 2021, 05:10:27 PM »
So now Robin Hood is no longer allowing users to buy GME or AMC. When you follow the money you see that Citadel routes the trade orders for Robin Hood and Citadel also reportedly gave a multi-billion dollar cash infusion to Melvin.

These fuckers need to be taken down.
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Re: Wall Street v Wall Street Bets
« Reply #18 on: January 28, 2021, 08:04:50 PM »
e-trade has joined the parade of wall street sycophants.  Ted Cruz and AOC have agreed that this needs to be investigated.  Hopefully some action gets taken.
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Offline honk

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Re: Wall Street v Wall Street Bets
« Reply #19 on: January 29, 2021, 07:33:43 PM »
I should have done more research before sounding off about this. You guys are right, it's a blatant double standard in favor of "established" wealthy investors. I think I'm just biased against meme communities in general after "ironic" meme culture played a big role in getting Trump elected, but that's no reason not to call out bullshit when we see it. It's nice to see some Democrats and Republicans united in fighting this.
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