Posted on 01/27/2021 10:47:13 AM PST by Tench_Coxe
Some major brokerage houses have begun to respond to a frenetic surge in the price of shares of companies that has been attributed to rabid buying by individual investors on social-media platforms.
On Wednesday, TD Ameritrade said it was restricting trading for GameStop GME, 119.89% and AMC Entertainment Holdings AMC, 226.01%, as well as other names, amid a triple-digit percentage surge in the price of those companies in recent days.
(Excerpt) Read more at marketwatch.com ...
You can bet Goldman Sachs is on speed dial to their paid-for people in DC to do something about it.
Interesting.
The restrictions are probably that you cannot use margin.
Gamestop will simply issue a bunch of new stock and blow the bubble—but raise a ton of cash in the mean time.
They “should” invest THAT in bitcoin. LOL.
I love seeing the “establishment” whining about trying to protect”the little guy.” I’ve been on the Reddit page where this was happening. The “little guy” is not stupid. They know exactly what is happening. Some of them have made life-changing money over this. Good for them.
If you want to kill the deep state. Costing them Billions of Dollars is how you do it.
Seems crazy.
I think they’ve tried to shut down Trader apps in Google play as well. I know someone who’s invested $2K. Riding it out.
Yes looks like the flash mob has found the markets
SEC is probably working with Treasury right now to fight back. How dare retail investors take money from a Hedge Fund!
Looks like Schwab is jumping in to protect the international bankers. Or else they’ve gotten caught short on the squeeze.
(Note - TD Ameritrade is now a Schwab front.)
expr is probably on the list to raid. i tried to get it this morning but it got away from me before I could do it.
I know some people who invested using RobinHood. They shut that one down too previously. Big investor Cartel didnt like the idea of an upstart..
Yeah, but they didn't say that. I'm restricted from using margins anyway. I wrote them a nasty note telling them what I thought of their restrictions designed to "protect" me.
As of Monday, shorts seemed to have lost $3.3 billion betting against GameStop this year, according to MarketsInsider. About $1.6 billion, or about half, of those losses happened on Friday when the stock jumped 51%.
That will get the stock frozen in a hurry. Maybe even the NYSE could claim that the trades were fraudulent and unwind them. Got to protect the hedge funds from the peasants. Those sheep are supposed to be fleeced (to make Bernie Mittens), not turn on and eat the finance masters.
Shopify (SHOP) was once a penny stock, but I sold and took my profit. Kept a couple of shares just for giggles that are now worth over $1000 each.
I won't talk about the stuff I bought (such as MDDD) which is now worthless as that's what usually happens.
Motley Fool loves to tell you about the stuff they recommended which took off. They won't tell you about the stuff that went in the toilet. Overall, you can see what they recommend just by buying the mutual fund (TMFC) which follows their recommendations. It has a fairly respectable rate of return, but nothing even close to their advertising hype. And Motley Fool is one of the more respectable ones out there.
Exactly. The internet has found a way to hit the swamp investors and now the swamp is crying foul.
So the little guy is going to be able to at least make some money too with no commission traders like Schwab, TDA (now owned by Schwab), Fidelity and a handful of others.
Yep.
I have been reading this for the last hour or so, pretty damned funny that they are beating them at their own game.
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