Then trot out a bunch of the commentators on CNBC to chant "Hedge funds good! Reddit bad!"
Where are the SWAT Raids??
Where are the Perp Walks??
Where are the ASSET FORFEITURE Proceedings??
Robinhood,Ameritrade,.. and all the other trading apps, including the Hedge Funds themselves, and ANY OTHER ENTITY that played a Part in this Massive FRAUD AND THEFT needs to be ARRESTED, PROSECUTED and ASSET STRIPPED Immediately.
These people STOLE 50% of the Little Guy Investors Money IN BROAD DAYLIGHT and No5thing has happened yet. WHY??
A Robinhood employee says Tenev received calls from the White House and Sequoia Capital to place restrictions on trading GME.
Folks,
The stock market is not what it used to be. Profits and management.
It is about as good a a lottery ticket. The only thing it has going for it is inflation. lots of money chasing few stocks.
It is important to understand that Robinhood despite its populist posturing was in collusion with the hedge funds. It sold them important trending data that helped them immensely with their short and long targets. When the users of Robinhood and other platforms dramatically ran up the stock of Gamestock, a stock that the hedge funds had immensely shorted, it literally caused those hedge funds to have monumental losses and go broke. The hedge funds did all they could tapping their paid politicos in the white house and forcing Robinhood to self destruct by preventing buy orders and allowing only sell orders. The hedge funds were desperate and countering any way, however illegal and immoral, that they could. They were successful in mitigating some of their losses but most took a huge hit and some are in fact bankrupt. Yet unless there is real legislation limiting their scams, they will reformulate and return. Given the amount of money they give the politicos, it is highly unlikely that there will be any legislation or criminal prosecutions. Friendly judges will quash the civil suits.
I *think* gamestop is halted. Everything else is updated but $gme’s been still for 6+ minutes now.
bfl
Thanks for posting. This is a very well written commentary on the whole picture of what is happening with the Gamestop issue.
“Thanks for posting. This is a very well written commentary on the whole picture of what is happening with the Gamestop issue.”
Yes, thanks for posting Kaslin. This article explains in simple, easy to understand terms what is going on.
Bfl
Given that one of the lead Gamestop “little guys” is a highly paid tech worker who had $50,000 to throw at Gamestop stock that he was not worried about losing, it is really hard to not laugh at the “Rich vs poor” or “elite vs populist” picture being drawn.
This is much more like a simple anarchist fight, people who want to burn down systems because they like fire.
I’m not convinced short sellers are the “bad guys”. Anybody betting on failure is seen in a negative light, obviously.
Call me crazy, but I think this is going to spread and pop the market. P/E has been ridiculous for 20 years.