Posted on 01/29/2021 6:39:03 AM PST by Red Badger
JUST IN - Class action complaint filed in the southern district of New York against Robinhood App (via FOX News)
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No standing due to emanating penumbras with latches, along with a lack of significant donations to the DNC ...
The bleeding continues 🩸
A friendly judge will do the hedge fund’s bidding. This suit will go nowhere.
the Beijing-Biden WH has already interfered with this
directly and with Strzok’s wife at the SEC.
could someone post a story that summarizes all that happened preceding this? just getting up to speed
Some Wall Street Bandits got taken to the cleaners by some upstart amateurs and you know that thieves don’t like being robbed themselves.
The bar stool sports guy, who seems quite smart, say’s this is a death knell for Robinhood.
It’s basically this:
The WALL STREET BIG GUYS are getting their a$$e$ handed to them on a Silver Platter by the little guys LIKE ME AND YOU, using the same RULES that the BIG GUYS have been using to screw the LITTLE GUYS for DECADES...... AND THEY DON’T LIKE IT!
They want the change the rules in the middle of the game.
They are on the hook for $70+ BILLION DOLLARS
.......................
thank you
super helpful
sounds like short sellers (hedge funds) want to continue to do what they do, and have winning bets against companies, but want everyone else to be on the hook when they bet wrongly
pathetic
First of all, they're being updated in real time and someone just posted this regarding the original post:
"Attorney General of New York Letitia James confirmed in a press release her office would look into the matter, saying "We are aware of concerns raised regarding activity on the Robinhood app, including trading related to the GameStop stock".[89][90]A second class-action was filed in the Northern District of Illinois claiming the company's decision to halt trades of BlackBerry, Nokia and AMC was made "to protect institutional investment at the detriment of retail customers."
"On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation.[69]Speaker of the House Nancy Pelosi said that Congress will be reviewing the situation.[70] Senator Sherrod Brown (D-OH) announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze.[71]
Representative Byron Donalds (R-FL) called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood."[72]
Representative Maxine Waters (D-CA) announced she will convene a hearing in the Financial Services Committee.[73]"
thanks....there’s another important angle here.
The newsletter that published that GameStop would sink and which began the reddit-driven squeeze is (of course) run by an activist short seller. So basically what this guy does is “investigate” a company, determine that it has some shortcomings, then it takes a short position and publishes its disclosures, with the hopes of driving the stock down.
This time, however, the reddit crowd bought up all the shares that were supposed to be declining.......
But bottom line. The whole newsletter/short scam is a left wing tactic that we see all the time now. Basically how Bernie Sanders gets richer and richer. You criticize, cajole and threaten, and then you take investment positions which will make you profit off of your criticisms, cajoling and threats.
Good way for leftists to make money and continue “doing good” in the world.
Except of course when their plans fail. Then they turn to us to bail them out.
as it turns out....Robin Hood is really the very corrupt Sheriff of Nottingham
"UPDATED, 6:45 p.m. Jan. 26: Gabe Plotkin, the founder of investment management firm Melvin Capital Management and a major short-seller of GameStop, is the buyer of two adjacent properties in Miami Beach, The Real Deal has learned.Plotkin paid $44 million for the waterfront homes at 6360 and 6342 North Bay Road, according to sources. Jean Simonian, who owns the watch store Westime, sold the mansion and adjacent house. The deal closed in late November and was recorded last week.
Melvin is known for taking significant short positions against several stocks, including GameStop, which has seen its shares rally nearly 700 percent this year- resulting in huge losses for Melvin. On Monday, the Wall Street Journal reported that Steve Cohen’s Point72 Asset Management and Ken Griffin’s Citadel are investing $2.75 billion into Melvin, which has lost nearly 30 percent this year.
The 12,651-square-foot mansion at 6360 North Bay Road sold for $32 million. The nine-bedroom home, built in 2018, has nine bedrooms, twelve full bathrooms and four half bathrooms, according to property records. It includes a guesthouse, pool and dock with 112 feet of water frontage."
Thanks
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