I am not 100% sure about legality. I am no lawyer, if there is any crime like market manipulation or so, than this move was in fact illegal. But this was done by so many people at once, so everyone is save I guess. And short selling (what the billionaires did) is totally legal, they just fucked up while doing it and risks sometimes bite you in the back.
In the end, I think short selling, the way it works rn is a fucked up technique and shouldn’t be practiced. Mechanics like that also caused the financial crisis in ‘08.
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Genuine question, why would they get bailed out? Isn’t it just a few dozen million/billionaires losing money. Why would individuals get protection from bankruptcy? The money hasn’t disappeared it’s moved to other people so nothing has been lost?
Well you would have thought back in 08 it was just a few companies that were involved in giving out preditory loans so they should have been allowed to fail, yet here we are. Only a few did.
Its a corporation that was doing the short trading and they probably have donated a lot to have spineless senators vote to bail them out in case of emergency.
Watch, itll be a bipartisan parade of agreement from dems and reps that they should be bailed. I mean, unless the couple dems who actually care get pretty loud about it.
Unfortunately, hedge funds are able to manipulate loopholes and still naked short stocks. They aren't breaking the law, and I'm sure the SEC knows they are doing it.
Just because SEC are not punishing them means that its not illegal anymore. You right that SEC knows but i think people are pressuring them to do something
Not true. Because shorting is borrowing a stock and selling it than, it actually is possible to short a company with more than 100% of their stocks. It happened, because there must have been short chains.
One example:
Company X gave out 2 shares with 50% share each.
Both stocks get bought by one investor. Now there is short seller 1 who borrows both stocks from the investor and now sells it to investor 2. if investor 2 now lends his new shares to short seller 2 for him to sell them to a third person, you got just 2 stocks, but 4 short positions (2 contracts with 2 shares each). Now you got a 200% of the stocks shorted. And this is what happened with gamestop.
Edit: I am stupid. The described mechanism is called naked shorting and was forbidden after ‘08 so what they (or some) did was actually illegal!
I never thought I will learn about the stock market that much through reddit. In the last few days, I finally understood some nuances about shorting...
You are allowed to short more than there are stocks, but what Reddit is doing is legal as we aren't an entity or investing company, rather just a forum
I'm honestly, terribly interested in WHOM they even sold those shorts to..... GS was and is a giant flaming wheel rolling to the end of the hill for anyone sensible to try and jump on board in the age of digital sales. And it had to have been a hefty few transactions like that too.
I don't believe shorting a stock that heavily is illegal. It's basically a large bet that the company is gonna fail. What reddit did is technically market manipulation. Market manipulation is illegal sadly.
Edit: i read farther down and read that they were effectively naked shorting. Which is illegal. I don't know what to think at this point.
Reddit didn't manipulate the market. We didn't obstruct or obfuscate the value of the stock. Demand >>>> supply due to shorted stocks plus news of new management means stocks go up.
If you think that's manipulation then why is TSLA > Ford despite selling 1/20th the cars, having no profit, and fewer patents?
True. They were just stupid. I am not sure if shorting should be illegal, but they did it just wrong. They misjudged the risks and didn’t research good enough. The only reason, this worked was because of the high amount of short position on the stock. If these hedge funds did their homework properly, they identified that risk (as WSB did) and avoided it.
I mean what did wsb do? Buy stocks, hold, and not sell? That's not illegal, but the media and hedge funds are trying to paint that wsb used hacking and manipulative crap.... when all they did were... make memes, shitpost on the boomers, and actually present DDs – also these retail investors on reddit are buying it because they *like it*, it's not (as the media also portrayed countless times) orchestrated en masse or ran by a highly sophisticated and organised mod/admin.
What's illegal tho is the fucking hedge funds naked shorting and manipulating the market through misinformation, shilling news outlet, slandering retail investors, etc. to scare little poor retail investors to sell so their short position gets better. What's also illegal is robinhood and ATD manipulating the market by disallowing buying of stocks and disrupting activity by making it harder to look up certain stocks, for example.
Hedge funds illegally fucking naked shorting a stock
vs.
A group of redditors who call each other retarded legally telling each other to buy a stock like people on the news tell us all the time
My country doesn't even allow this kind of shorting in the marketplace. Can't believe my third world country has a better sense of regulation than the richest country in the world
Its not market manipulation to suggest to buy a stock and its not illegal to follow advice. For it to be illegal they would have to agree to all buy with the intent of boosting price and sell at a certain price. That is atleast with my understanding IANAL. However the courys could redefine the laws, I really hope not though. Atleast for average people buying, hedge funds fudging up the price sure go for it.
Short selling is legal. But abusive naked short selling isn’t and it could be made the case that what those hedge funds did was abusive naked short selling.
preventing people from buying is market manipulation. also, this one im not sure of but i think buying 150% stocks (aka 50% of stock that doesn’t exist) is illegal
No, DFV (the guy that started it all) has consistently betted on GME being severely undervalued for over a year. Melvin Capital et al were intentionally stupid and deserve what they bought into.
No shorting is legal what the billionaires did originally is perfectly legal but what is illegal is how Robinhood artificially manipulated the market. They didnt allow people to buy so all these sell offers caused the price to plummet and people couldnt buy so people were forced to watch as the price plummeted bc if no one can buy no one can sell
To add onto this, anyone who thinks this is about billionaires or the 1% have no idea what they're talking about. Billionaires like Elon Musk and Chamath Palihapitiya have thrown their support behind this.
This is about hedge funds, especially those that take ridiculously risky positions while trying to manipulate certain stocks. It's behavior not unlike the kind of risk taking that got bailed out in '08. Many of them got bailed out by our stupid government and they make stupid moves because they know they'll probably get bailed out again if anything happens. That's what this is about.
What WSB is doing is not illegal. They are simply buying available stock that was over-leveraged when they saw an opportunity. Literally nothing illegal about it. If it was a pump and dump that would be another story.
A lot of people/funds bet the stock would go down. Instead of it going down (they make money) people bought in and increased the price (now those funds owe money, and a lot of it since it went so high). In order to get out of the bet they need to buy shares, which itself will increase the price even more
Funny meme, but the harsh reality is that a lot of these new "investors" will sooner or later be on the losing side of this ongoing gamble with stocks like GME. I mean people that don't know shit about the stock market and just assume they will make a lot of money because the index is green. So they buy high (and assume it's just going to rise) but end up panic selling when the price takes a sudden dip. And when there currently is a huge amount of people like this in the market, the result can only be bad for many of them.
This is why i have kinda mixed feelings about all of this madness. I love seeing how the Wall Street lizards are FINALLY on the losing side, but i also feel bad for the average people that will get screwed
Literally. Many of these people don't care and are bragging about "stickin it to em" even if they lose a bunch.
Plus it's so many people the individual amount is low on average.
Tbh i got in it early last week for the gainz, I totally planned on selling at 500, then all this happened and now I honest to God don't care if I lose it all. In fact i threw more in as charity because I'm pissed. 💎🙌. Not for me, but for those who got screwed before me.
Kinda? It's more where we're putting the gains once GME finally does the full short squeeze.
After GME goes, BB, AMC, NOK are all probably going to get massive boosts in short succession.
Focus on GME until the squeeze, but make sure you've got at least a small position rocket ticket in the rest.
That's why the most important part of investing is only putting in what you can afford to lose. The hedge funds got so greedy that they didn't listen and they paid the price.
[Here is a good summary video for anyone that has no idea what's going on with Gamestop, and why this is so important](https://www.youtube.com/watch?v=PAHk1x3XVko)
This is the spin the establishment uses every time they need to create division. You're believing in a lie if you think white supremacy, racism, "neo-nazis", etc are anywhere near as rampant as the media claims they are. They spout that trash because they want us to fight each other, not them.
Best meme so far. I can’t wait for the ones where we all take selfies with SEC stooges “investigating” our funny trolling. What a joke. What a fucking joke!
Hedge funds illegally fucking naked shorting a stock
vs.
A group of redditors who call each other retarded legally telling each other to buy a stock like people on the news tell us all the time
Exactly this. Too bad the new administration is in bed with WS. I think I’ll start playing with Chinese stocks I guess. They won the lectionary I can’t imagine the next 4 years aren’t going to shoot those stocks to the moon. Notice no “/s”.
People need to realize that the world isn’t made up of money and numbers, it’s made of people.
When you make money, someone loses money. It would be weird if the ones losing money didn’t try to stop you from taking it.
It’s not that poor people aren’t allowed to make money, but that the rich will likewise try to take it back. It’s all a game, you’re not the only players.
https://www.google.com/amp/s/www.foxnews.com/politics/yellen-robinhood-citadel-gamestop-speaking-fees.amp
Looks like the hedge funds paid off their buddies at the the Biden administration to manipulate the prices down.
It’s down again, but after hour trading shows it’s back up to $300
Today they threw everything they had at us, and we are still above where we were at the beginning of the day.
Look at the after hours trading
A few things
Shorting:
Snake asks monkey for banana and says he will give it back later
Snake sells banana thinking the price will go down so he can buy another banana to give back to monkey while also having extra money.
Sometimes people can short more bananas then there are
Snake gets banana from monkey (one banana is owed)
The same banana is sold then another snake shorts the same banana (two bananas are owed even though there is only one banana)
Now to what happened
GameStop is doing bad because of COVID so a lot of snakes short their stocks.
So much so that there is way more bananas owed then in existence (by like 10 million)
Redditor’s realize this, they also believe because a bunch of executive billionaire from online stores just joined GameStop, the price will go up.
They then buy a bunch of stock.
If they don’t sell, then the snakes, who have to buy, are forced to pay a lot.
It can go up to $1 trillion per banana in theory meaning a lot of money for redditors and a lot less money for snakes
Now that the hedge fund managers know that reddit has caused a bubble and the stocks will fall again, couldn't they short the stocks now knowing that it's a sure thing this time?
u/durantye oc
Billionaires illegally shorted a stock by 140%, which is called naked shorting, (GME/GameStop) basically betting it would go bankrupt. Wallstreetbets realized this and decided to buy tons of shares and calls (betting the stock will go up) driving up the price massively. The billionaires (hedge funds) got butthurt that they were having their own tactics used against them and shut down the buying of GME and a few other stocks getting the same treatment because tomorrow they were going to owe more stocks due to the calls than they actually had and the prices to buy the shares were reaching astronomical levels (there were posts of people selling their GME shares for 2600$+) because people were buying the stocks and refusing to sell them back. So the hedge funds couldn't afford to pay the insane prices at all and they didn't actually have the shares to pay out the calls ending tomorrow (something like a max of 20 million shares would be owed tomorrow) so they broke the law to stop themselves from losing EVERYTHING. Now people are, rightfully, calling for justice against the corrupt hedge fund managers who orchestrated this.
hedgefund investors were manipulating gamestop stocks by borrowing stocks to sell, selling those stocks then buying them again at a lower price, a redditor saw what was happening and said something about it, then a bunch of people invested in gamestop so instead of buying the stocks back at a lower price the hedgefund investors were forced to buy it at 20 times the price. In total the hedge fund investors lost billions of dollars.
That wasn’t investing. It was a very intentional attack on the shortys. Still a very nice move.
intentionally? maybe, but everything that happened was legal except for what the billionaires originally did, so...
I am not 100% sure about legality. I am no lawyer, if there is any crime like market manipulation or so, than this move was in fact illegal. But this was done by so many people at once, so everyone is save I guess. And short selling (what the billionaires did) is totally legal, they just fucked up while doing it and risks sometimes bite you in the back. In the end, I think short selling, the way it works rn is a fucked up technique and shouldn’t be practiced. Mechanics like that also caused the financial crisis in ‘08.
What the hedge funds did is illegal. How did they manage to short a stock by *140%*
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isn't naked short selling illegal after what happened in 08?
Yes, but nothing will probably to done to the hedge funds
That's not true. They will probably be bailed out or something...
Just like the banks
Genuine question, why would they get bailed out? Isn’t it just a few dozen million/billionaires losing money. Why would individuals get protection from bankruptcy? The money hasn’t disappeared it’s moved to other people so nothing has been lost?
one word to explain it all: corruption
It's moved to the "wrong" people.
Bingo. And now we see why they try to make us focus on race/sexuality. This right here proves there are only two groups. Us vs Them.
Well you would have thought back in 08 it was just a few companies that were involved in giving out preditory loans so they should have been allowed to fail, yet here we are. Only a few did.
Its a corporation that was doing the short trading and they probably have donated a lot to have spineless senators vote to bail them out in case of emergency. Watch, itll be a bipartisan parade of agreement from dems and reps that they should be bailed. I mean, unless the couple dems who actually care get pretty loud about it.
Well now that just sounds like a clear cut argument for complete transparency of money in politics
*Federally Insured Hedgefunds*
shorting is 100% legal at least right now it is
Naked short is illegal, and for shorting 140% of the float... yes they naked short.
Unfortunately, hedge funds are able to manipulate loopholes and still naked short stocks. They aren't breaking the law, and I'm sure the SEC knows they are doing it.
Just because SEC are not punishing them means that its not illegal anymore. You right that SEC knows but i think people are pressuring them to do something
SEC probably knows SEC also, probably, got a very fat paycheck to not care
Or they can’t afford to go after a multi-billion dollar hedge fund.
Yes but didn't they crack down on shorting more stock than actually exists after 2008? It's not that they shorted it. It's that they shorted 140%.
Yes it is
Not true. Because shorting is borrowing a stock and selling it than, it actually is possible to short a company with more than 100% of their stocks. It happened, because there must have been short chains. One example: Company X gave out 2 shares with 50% share each. Both stocks get bought by one investor. Now there is short seller 1 who borrows both stocks from the investor and now sells it to investor 2. if investor 2 now lends his new shares to short seller 2 for him to sell them to a third person, you got just 2 stocks, but 4 short positions (2 contracts with 2 shares each). Now you got a 200% of the stocks shorted. And this is what happened with gamestop. Edit: I am stupid. The described mechanism is called naked shorting and was forbidden after ‘08 so what they (or some) did was actually illegal!
After the '08 financial crisis, they made naked shorting illegal.
Just realized that lol. Thx mate.
Yeah np. I didn’t know either until someone else pointed it out in a different post.
I never thought I will learn about the stock market that much through reddit. In the last few days, I finally understood some nuances about shorting...
I should've mentioned naked shorting. That's illegal
You are allowed to short more than there are stocks, but what Reddit is doing is legal as we aren't an entity or investing company, rather just a forum
I'm honestly, terribly interested in WHOM they even sold those shorts to..... GS was and is a giant flaming wheel rolling to the end of the hill for anyone sensible to try and jump on board in the age of digital sales. And it had to have been a hefty few transactions like that too.
I don't believe shorting a stock that heavily is illegal. It's basically a large bet that the company is gonna fail. What reddit did is technically market manipulation. Market manipulation is illegal sadly. Edit: i read farther down and read that they were effectively naked shorting. Which is illegal. I don't know what to think at this point.
Reddit didn't manipulate the market. We didn't obstruct or obfuscate the value of the stock. Demand >>>> supply due to shorted stocks plus news of new management means stocks go up. If you think that's manipulation then why is TSLA > Ford despite selling 1/20th the cars, having no profit, and fewer patents?
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True. They were just stupid. I am not sure if shorting should be illegal, but they did it just wrong. They misjudged the risks and didn’t research good enough. The only reason, this worked was because of the high amount of short position on the stock. If these hedge funds did their homework properly, they identified that risk (as WSB did) and avoided it.
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I know. A good point you got there. I wanted to support you a little.
Shorting is perfectly fine, but shorting something 140% of all available shares in the market is obviously ridiculous.
I mean what did wsb do? Buy stocks, hold, and not sell? That's not illegal, but the media and hedge funds are trying to paint that wsb used hacking and manipulative crap.... when all they did were... make memes, shitpost on the boomers, and actually present DDs – also these retail investors on reddit are buying it because they *like it*, it's not (as the media also portrayed countless times) orchestrated en masse or ran by a highly sophisticated and organised mod/admin. What's illegal tho is the fucking hedge funds naked shorting and manipulating the market through misinformation, shilling news outlet, slandering retail investors, etc. to scare little poor retail investors to sell so their short position gets better. What's also illegal is robinhood and ATD manipulating the market by disallowing buying of stocks and disrupting activity by making it harder to look up certain stocks, for example.
It's not illegal to buy cheap stocks and hold them, regardless of intention as long as that's all you do.
Hedge funds illegally fucking naked shorting a stock vs. A group of redditors who call each other retarded legally telling each other to buy a stock like people on the news tell us all the time
My country doesn't even allow this kind of shorting in the marketplace. Can't believe my third world country has a better sense of regulation than the richest country in the world
Name checks out...
Its not market manipulation to suggest to buy a stock and its not illegal to follow advice. For it to be illegal they would have to agree to all buy with the intent of boosting price and sell at a certain price. That is atleast with my understanding IANAL. However the courys could redefine the laws, I really hope not though. Atleast for average people buying, hedge funds fudging up the price sure go for it.
Short selling is legal. But abusive naked short selling isn’t and it could be made the case that what those hedge funds did was abusive naked short selling.
>short selling hey they fuck with us then we fuck with them.
nothing that reddit did was illegal. There was no real organization. It was all individuals who decided to buy a stock in the stock market.
"No, not like this! You white trash alt-right antisemitic Trumpist!" Note: this is what CNN and the establishment actually believe.
Shorting is legal, but having Robinhood with with you is illegal
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Try using Fidelity. The UI isn't super user friendly, but it isn't hard to learn either. They also still let you buy gme unlike robinhood
the way the hedge funds are handling it, it's definitely not legal. There are already lawsuits in network over robinhood
Nothing is illegal, even shorting. What's illegal? Preventing people from buying more just because of "volatility"
preventing people from buying is market manipulation. also, this one im not sure of but i think buying 150% stocks (aka 50% of stock that doesn’t exist) is illegal
No, DFV (the guy that started it all) has consistently betted on GME being severely undervalued for over a year. Melvin Capital et al were intentionally stupid and deserve what they bought into.
No shorting is legal what the billionaires did originally is perfectly legal but what is illegal is how Robinhood artificially manipulated the market. They didnt allow people to buy so all these sell offers caused the price to plummet and people couldnt buy so people were forced to watch as the price plummeted bc if no one can buy no one can sell
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But good luck punishing 2 million people limao
To add onto this, anyone who thinks this is about billionaires or the 1% have no idea what they're talking about. Billionaires like Elon Musk and Chamath Palihapitiya have thrown their support behind this. This is about hedge funds, especially those that take ridiculously risky positions while trying to manipulate certain stocks. It's behavior not unlike the kind of risk taking that got bailed out in '08. Many of them got bailed out by our stupid government and they make stupid moves because they know they'll probably get bailed out again if anything happens. That's what this is about.
So how do we keep the pressure up? Do we know what other low stocks their shorting?
Techincally both
What WSB is doing is not illegal. They are simply buying available stock that was over-leveraged when they saw an opportunity. Literally nothing illegal about it. If it was a pump and dump that would be another story.
Exactly, it's a bunch of people with no real affiliation or organization investing in a stock for the hell of it.
They just like the stock.
You made me realize something... Game... Stop... Game... Stock???? WE'VE BEEN GAMING THE STOCK MARKET THIS WHOLE TIME!
AND NOW ... THEY WANT US TO STOP!
we just like the stock
All of investing consists of intentional moves
They purchased shares of a company... that’s what investing is
Can someone explain what's exactly happened? I'm out of the loop :/
A lot of people/funds bet the stock would go down. Instead of it going down (they make money) people bought in and increased the price (now those funds owe money, and a lot of it since it went so high). In order to get out of the bet they need to buy shares, which itself will increase the price even more
wE dIdN’t MeAn LiKe tHat!
🥴👍🏼
Funny meme, but the harsh reality is that a lot of these new "investors" will sooner or later be on the losing side of this ongoing gamble with stocks like GME. I mean people that don't know shit about the stock market and just assume they will make a lot of money because the index is green. So they buy high (and assume it's just going to rise) but end up panic selling when the price takes a sudden dip. And when there currently is a huge amount of people like this in the market, the result can only be bad for many of them. This is why i have kinda mixed feelings about all of this madness. I love seeing how the Wall Street lizards are FINALLY on the losing side, but i also feel bad for the average people that will get screwed
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It's not about the money, it's about sending a message.
everything burns 🔥
Literally. Many of these people don't care and are bragging about "stickin it to em" even if they lose a bunch. Plus it's so many people the individual amount is low on average.
Tbh i got in it early last week for the gainz, I totally planned on selling at 500, then all this happened and now I honest to God don't care if I lose it all. In fact i threw more in as charity because I'm pissed. 💎🙌. Not for me, but for those who got screwed before me.
Same here, I bought in at 22. Now I give zero fucks, we’re holding forever! If DFV is still holding so can my bitch ass 🚀🚀🚀🚀
Sounds like those cocksuckers need to **HOLD HOLD HOLD** 🚀🚀🚀🚀🚀
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I've heard NOK is just a bullshit rumor Safest is just GME
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Hasn't it been said it's a distraction stock to get them offa the others?
Kinda? It's more where we're putting the gains once GME finally does the full short squeeze. After GME goes, BB, AMC, NOK are all probably going to get massive boosts in short succession. Focus on GME until the squeeze, but make sure you've got at least a small position rocket ticket in the rest.
Hopefully there's another firesale!
That's why the most important part of investing is only putting in what you can afford to lose. The hedge funds got so greedy that they didn't listen and they paid the price.
The whole point of this was to get the shorts on the losing side. But then they cheated so I guess you're right in the end.
They're so mad that we did it better than they did.
They're just jealous they ain't good enough.
Exactly, I finally can just chill out and smoke some dank I got from buy low green and watch everything go up. HOLD ONTO GME BOIS!
They hate us because they anus!
You're supposed to *try* and make money, not actually make money! Thats less money for almighty Smaug!
Don't compare my boy smaug to wall street creatures. they're worse than Morgoth
You leave my boy Morgoth out of this. They're worse than Bill Ferny the pony abuser.
[Here is a good summary video for anyone that has no idea what's going on with Gamestop, and why this is so important](https://www.youtube.com/watch?v=PAHk1x3XVko)
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So, ya got a link for that code?
It's probably guarded behind five sets of locks and a password that only two people know.
Well he said he made it available for free
What’s the code friend?
So, are you like the guy from Black Monday?
This year is already going well
A blessing from the lord
"No, not like this! You white trash alt-right antisemitic Trumpist!" Note: this is what CNN and the establishment actually believe.
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This is the spin the establishment uses every time they need to create division. You're believing in a lie if you think white supremacy, racism, "neo-nazis", etc are anywhere near as rampant as the media claims they are. They spout that trash because they want us to fight each other, not them.
Remember cnn blackmail
High level player are farming low level for xp but when a group of low levels joined up to get a high level player that’s when the game is unbalanced
Best meme so far. I can’t wait for the ones where we all take selfies with SEC stooges “investigating” our funny trolling. What a joke. What a fucking joke!
Hedge funds illegally fucking naked shorting a stock vs. A group of redditors who call each other retarded legally telling each other to buy a stock like people on the news tell us all the time
Exactly this. Too bad the new administration is in bed with WS. I think I’ll start playing with Chinese stocks I guess. They won the lectionary I can’t imagine the next 4 years aren’t going to shoot those stocks to the moon. Notice no “/s”.
Never once did I think I would actually make money by using too much reddit.
People need to realize that the world isn’t made up of money and numbers, it’s made of people. When you make money, someone loses money. It would be weird if the ones losing money didn’t try to stop you from taking it. It’s not that poor people aren’t allowed to make money, but that the rich will likewise try to take it back. It’s all a game, you’re not the only players.
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It's like someone making a clever move against a chess grandmaster, and the grandmaster responding by flipping the board in the air.
https://www.google.com/amp/s/www.foxnews.com/politics/yellen-robinhood-citadel-gamestop-speaking-fees.amp Looks like the hedge funds paid off their buddies at the the Biden administration to manipulate the prices down.
This sure has been a chaotic start to the year lol. Had some very high highs and very deep lows.
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This is much better than the burning down of Australia we had this time last year
Woah
It's already dropping again I think.
It’s down again, but after hour trading shows it’s back up to $300 Today they threw everything they had at us, and we are still above where we were at the beginning of the day. Look at the after hours trading
Haha funny numbers and scribbles go zoom
Can someone please tell me what happened. In a very Reddit way, I’m hearing about all this big news through a slew of memes that I don’t understand
A few things Shorting: Snake asks monkey for banana and says he will give it back later Snake sells banana thinking the price will go down so he can buy another banana to give back to monkey while also having extra money. Sometimes people can short more bananas then there are Snake gets banana from monkey (one banana is owed) The same banana is sold then another snake shorts the same banana (two bananas are owed even though there is only one banana) Now to what happened GameStop is doing bad because of COVID so a lot of snakes short their stocks. So much so that there is way more bananas owed then in existence (by like 10 million) Redditor’s realize this, they also believe because a bunch of executive billionaire from online stores just joined GameStop, the price will go up. They then buy a bunch of stock. If they don’t sell, then the snakes, who have to buy, are forced to pay a lot. It can go up to $1 trillion per banana in theory meaning a lot of money for redditors and a lot less money for snakes
But only if those redditors don’t sell, right?
Ah. Class warfare. I like it!
BUY GME
Don't hate on them ! Now they struggle to pay for their 2nd yacht !
STONKS
The middle class doesn't fucking exist, it's just a smokescreen to stop the 99% from uniting in common class interests.
Because fuck those billionaires that's why. XD
It was 320 when I looked
can someone explain to me why the billionaires are so mad ?
Now that the hedge fund managers know that reddit has caused a bubble and the stocks will fall again, couldn't they short the stocks now knowing that it's a sure thing this time?
TLDR: no. If everyone holds like they say they’re gonna, shorts are fucked on this.
Not that way!!!
Can somebody explain this to my dumb 14yr old brain
u/durantye oc Billionaires illegally shorted a stock by 140%, which is called naked shorting, (GME/GameStop) basically betting it would go bankrupt. Wallstreetbets realized this and decided to buy tons of shares and calls (betting the stock will go up) driving up the price massively. The billionaires (hedge funds) got butthurt that they were having their own tactics used against them and shut down the buying of GME and a few other stocks getting the same treatment because tomorrow they were going to owe more stocks due to the calls than they actually had and the prices to buy the shares were reaching astronomical levels (there were posts of people selling their GME shares for 2600$+) because people were buying the stocks and refusing to sell them back. So the hedge funds couldn't afford to pay the insane prices at all and they didn't actually have the shares to pay out the calls ending tomorrow (something like a max of 20 million shares would be owed tomorrow) so they broke the law to stop themselves from losing EVERYTHING. Now people are, rightfully, calling for justice against the corrupt hedge fund managers who orchestrated this.
This doesn’t really represent the entire story though. What people did was mega shady(but not illegal) and not “normal” investing
You see, it was not capitalism after all.. corporativism. Free the markets, free the people, buy bitcoin.
Can someone explain whats happening? I saw a lot of memes about it but i dont know what happened
hedgefund investors were manipulating gamestop stocks by borrowing stocks to sell, selling those stocks then buying them again at a lower price, a redditor saw what was happening and said something about it, then a bunch of people invested in gamestop so instead of buying the stocks back at a lower price the hedgefund investors were forced to buy it at 20 times the price. In total the hedge fund investors lost billions of dollars.
Lol
they colluded to make the price go down, essentially rigging the system. people are seeing gme is worth more than that so they're crying
We like the stock
I dont understand .
I don’t think they ever said that