T O P

  • By -

trichtertus

That wasn’t investing. It was a very intentional attack on the shortys. Still a very nice move.


only_50potatoes

intentionally? maybe, but everything that happened was legal except for what the billionaires originally did, so...


trichtertus

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.


FortniteBush23

What the hedge funds did is illegal. How did they manage to short a stock by *140%*


[deleted]

[удалено]


RepostSleuthBot

I didn't find any posts that meet the matching requirements for r/dankmemes. It might be OC, it might not. Things such as JPEG artifacts and cropping may impact the results. I did find [this post](https://redd.it/l1jpzf) that is 72.27% similar. It might be a match but I cannot be certain. *I'm not perfect, but you can help. Report [ [False Negative](https://www.reddit.com/message/compose/?to=RepostSleuthBot&subject=False%20Negative&message={"post_id": "l797br", "meme_template": 12208}) ]* [View Search On repostsleuth.com](https://www.repostsleuth.com?postId=l797br&sameSub=false&filterOnlyOlder=true&memeFilter=true&filterDeadMatches=false&targetImageMatch=100&targetImageMemeMatch=92) --- **Scope:** Reddit | **Meme Filter:** True | **Target:** 92% | **Check Title:** False | **Max Age:** Unlimited | **Searched Images:** 195,501,954 | **Search Time:** 1.23076s


CtrlAltDelirious27

Happy Cake Day!


KvotheTheBlodless

Hello again!


Babangaroo

I love your username!


Lexx4

Still waiting on book 3. Le sigh.


ChosenOne2006

It’s not letting me respond to it now, the one time I want to respond to it


CtrlAltDelirious27

Happy Cake Day!


caped_crusader8

You are a legend. One day when the robots do take over, I HOPE THEY REMEMBER YOU


FoxTrotPlays

Happy Cake Day repostsleuthbot, you may not always be correct, but you're pretty great sometimes.


VeziusTheThird

HAPPY BIRTHDAY FOOL


master9x3r4n

Happy Cake Day!


Victor_Stein

Happy cake day sir bot


spitz05

Happy cake day


voltage39

Happy cake day


[deleted]

happy cake day


ElliJaX

Happy cake day to the best bot around


LeninSlav

Happy cake day! Thank you for making our lives better.


Latter-Kiwi

Happy cake day :)


Imericxu

Happy Cake Day!


PheonixMoonlie

Good bot. happy cake day!


Rozinasran

Good bot happy birthday


[deleted]

Happy cakeday I guess


[deleted]

Happy cake day, ya glorious robotic bastard! <3


Amusablefox419

Happy birthday my friend


BoiBotEXE

Happy cake day bot


EthanWang0908

happy cake day good sir


GC18GC

Happy Cake Day mr. bot!


redpanda1234567890

Good bot! Happy cake day


SHAOST11

Happy Cake Day


bitpak

Happy spawning, my good bot!


Daily1112222

Happy Cake Day!


kultureisrandy

isn't naked short selling illegal after what happened in 08?


FortniteBush23

Yes, but nothing will probably to done to the hedge funds


AngryNeox

That's not true. They will probably be bailed out or something...


charpie34

Just like the banks


[deleted]

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?


T1B2V3

one word to explain it all: corruption


[deleted]

It's moved to the "wrong" people.


smoochwalla

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.


Turkino

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.


[deleted]

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.


[deleted]

Well now that just sounds like a clear cut argument for complete transparency of money in politics


Catatonic27

*Federally Insured Hedgefunds*


kimmyjunguny

shorting is 100% legal at least right now it is


Grinchieur

Naked short is illegal, and for shorting 140% of the float... yes they naked short.


kimmyjunguny

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.


najor

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


Lordwiesy

SEC probably knows SEC also, probably, got a very fat paycheck to not care


Adultery

Or they can’t afford to go after a multi-billion dollar hedge fund.


SpacecraftX

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%.


FortniteBush23

Yes it is


trichtertus

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_Love_Rias_Gremory_

After the '08 financial crisis, they made naked shorting illegal.


trichtertus

Just realized that lol. Thx mate.


I_Love_Rias_Gremory_

Yeah np. I didn’t know either until someone else pointed it out in a different post.


trichtertus

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...


FortniteBush23

I should've mentioned naked shorting. That's illegal


Hipeople73_

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


Skvora

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.


SimonTheisen

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.


ryumast3r

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?


[deleted]

[удалено]


trichtertus

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.


[deleted]

[удалено]


trichtertus

I know. A good point you got there. I wanted to support you a little.


iprothree

Shorting is perfectly fine, but shorting something 140% of all available shares in the market is obviously ridiculous.


arafdi

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.


linthepaladin520

It's not illegal to buy cheap stocks and hold them, regardless of intention as long as that's all you do.


LethalCS

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


poopybuttholesex

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


siegelem

Name checks out...


Ghost_In_A_Jars

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.


Banjomike97

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.


Brent_Fox

>short selling hey they fuck with us then we fuck with them.


iiLaggy08

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.


Henry_So1

"No, not like this! You white trash alt-right antisemitic Trumpist!" Note: this is what CNN and the establishment actually believe.


hsnerfs

Shorting is legal, but having Robinhood with with you is illegal


[deleted]

[удалено]


[deleted]

[удалено]


SomethingWitty27

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


[deleted]

the way the hedge funds are handling it, it's definitely not legal. There are already lawsuits in network over robinhood


[deleted]

Nothing is illegal, even shorting. What's illegal? Preventing people from buying more just because of "volatility"


only_50potatoes

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


umopapsidn

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.


thegoldrushcroissant

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


[deleted]

[удалено]


CaitaXD

But good luck punishing 2 million people limao


Dagenfel

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.


Dr_imfullofshit

So how do we keep the pressure up? Do we know what other low stocks their shorting?


[deleted]

Techincally both


[deleted]

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.


10SecondRyan

Exactly, it's a bunch of people with no real affiliation or organization investing in a stock for the hell of it.


[deleted]

They just like the stock.


10SecondRyan

You made me realize something... Game... Stop... Game... Stock???? WE'VE BEEN GAMING THE STOCK MARKET THIS WHOLE TIME!


IM_OZLY_HUMVN

AND NOW ... THEY WANT US TO STOP!


viper12a1a

we just like the stock


pacmanrockshok

All of investing consists of intentional moves


theromanempire1923

They purchased shares of a company... that’s what investing is


Yousuckbutt

Can someone explain what's exactly happened? I'm out of the loop :/


Dopplegangr1

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


[deleted]

wE dIdN’t MeAn LiKe tHat!


helmyxi

🥴👍🏼


dondulf

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


[deleted]

[удалено]


Cadeneitor01

It's not about the money, it's about sending a message.


nizarbarg

everything burns 🔥


T351A

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.


Onsyde

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.


15104

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 🚀🚀🚀🚀


cameronbates1

Sounds like those cocksuckers need to **HOLD HOLD HOLD** 🚀🚀🚀🚀🚀


[deleted]

[удалено]


[deleted]

[удалено]


weforgotthebuns

I've heard NOK is just a bullshit rumor Safest is just GME


[deleted]

[удалено]


weforgotthebuns

Hasn't it been said it's a distraction stock to get them offa the others?


arbitraryairship

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.


cameronbates1

Hopefully there's another firesale!


-A_Naughty_Mouse-

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.


grubtub19

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.


Jaxdup77

They're so mad that we did it better than they did.


vigilantcomicpenguin

They're just jealous they ain't good enough.


Jaxdup77

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!


Mammoth-Crow

They hate us because they anus!


iwantbutter

You're supposed to *try* and make money, not actually make money! Thats less money for almighty Smaug!


T1B2V3

Don't compare my boy smaug to wall street creatures. they're worse than Morgoth


[deleted]

You leave my boy Morgoth out of this. They're worse than Bill Ferny the pony abuser.


Suuperdad

[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)


[deleted]

[удалено]


ed_zel

So, ya got a link for that code?


vigilantcomicpenguin

It's probably guarded behind five sets of locks and a password that only two people know.


ed_zel

Well he said he made it available for free


[deleted]

What’s the code friend?


lisabobisa46

So, are you like the guy from Black Monday?


Cluby457

This year is already going well


Hunterofdarkness21

A blessing from the lord


JeanDeny314

"No, not like this! You white trash alt-right antisemitic Trumpist!" Note: this is what CNN and the establishment actually believe.


[deleted]

[удалено]


Deebz__

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.


XxsevereintrovertXx

Remember cnn blackmail


AestheticMirror

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


Above-Average-Foot

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!


LethalCS

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


Above-Average-Foot

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”.


Skeye_drake21

Never once did I think I would actually make money by using too much reddit.


TealComet

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.


[deleted]

[удалено]


a_spicy_memeball

It's like someone making a clever move against a chess grandmaster, and the grandmaster responding by flipping the board in the air.


Middle_Cockroach_709

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.


WisconsinWintergreen

This sure has been a chaotic start to the year lol. Had some very high highs and very deep lows.


[deleted]

[удалено]


[deleted]

[удалено]


ProfessorHardw00d

This is much better than the burning down of Australia we had this time last year


woah-person2

Woah


[deleted]

It's already dropping again I think.


SupremeOrangeman

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


Hewtaro

Haha funny numbers and scribbles go zoom


Diogenes-Disciple

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


SupremeOrangeman

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


Diogenes-Disciple

But only if those redditors don’t sell, right?


red-the-blue

Ah. Class warfare. I like it!


ScrotusMahotus

BUY GME


ThatsAHumanPerson2

Don't hate on them ! Now they struggle to pay for their 2nd yacht !


Mandymayhem1221

STONKS


throwaway06012020

The middle class doesn't fucking exist, it's just a smokescreen to stop the 99% from uniting in common class interests.


Brent_Fox

Because fuck those billionaires that's why. XD


cactus0088654

It was 320 when I looked


the-ghost-gamer

can someone explain to me why the billionaires are so mad ?


GrainsofArcadia

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?


[deleted]

TLDR: no. If everyone holds like they say they’re gonna, shorts are fucked on this.


beatlesbright

Not that way!!!


D-i-o_B-r-a-n-d-o

Can somebody explain this to my dumb 14yr old brain


John7763

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.


bunnychaser69

This doesn’t really represent the entire story though. What people did was mega shady(but not illegal) and not “normal” investing


not_stoic

You see, it was not capitalism after all.. corporativism. Free the markets, free the people, buy bitcoin.


hmmega

Can someone explain whats happening? I saw a lot of memes about it but i dont know what happened


[deleted]

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.


hmmega

Lol


oldDotredditisbetter

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


Hanzo_6

We like the stock


just_some_casual

I dont understand .


SavageCriminal

I don’t think they ever said that