Posted on 01/29/2021 3:45:29 PM PST by TigerClaws
My 18 year old son took his $500 of Christmas money and made $10,000 on GameStop. No kidding
This is definitely a market acting very toppish
Hedge fund guy goes on a NSFW rant at work. Breaks chair. Lol.
https://m.youtube.com/watch?v=bitP1DHNogQ&feature=youtu.be
They know Biden has there back. Just like all other corruptocrats know.
Taxpayers (us) will make them whole.
Not hole, as they should become.
I think they hold on to argue it’ll tank all the markets and they need to shut down trading etc.
It’s the Capitol protest for the financial markets. Lots of people will be left with worthless screenshots of money they’ll never see.
Bleh. Started drinking again on day of lockdown.
Should be their.... old, senile, and now drinking is no way to go through life.
Or.... is it threw? 8>)
Most of the “retards” (new GME buyers) appear to be novice investors buying a few shares they can afford and holding them to ‘stick it to the man’. They are the hedge fund shorts’ worst nightmare. IOW “too retarded to sell for a profit” thereby inflicting PAIN on the shorts by making them hold and pay fees while not providing shares to cover. That’s hubris I guess -thinking the other side of your (short) trade is smart-like-you. But they’re “retards” lol.
What they’re missing is twofold: 1) These aren’t speculators looking to pump and dump. They’re not in it for the profit, they’re in it to destroy the hedge fund titans, no matter the cost. 2) They don’t yet realize how this attack on them is spreading internationally. Now, like-minded individuals around the world are jumping in to keep the stock propped up.
I think the populist army wins this, big time. All they have to do is sit on their positions, while the shorts have to keep coming up with cash to meet margin calls (or surrender their positions and take a nuclear hit). If the Reddit populists didn’t crack and start selling when the stock hit almost $500, they’re not going to do it now. It’s a really impressive and inspiring display of solidarity and sticking to principles.
Honestly, when I first saw this happen, I was semi certain it was the planned take down happening.
The reaction, much like Trumps win, tells me its grass roots, therefore, Verboten.
Really a time to short this stock
It’s very complicated
here is an interview
https://www.cnbc.com/2021/01/28/robinhood-ceo-says-it-limited-buying-in-gamestop-to-protect-the-firm-and-protect-our-customers.html
the other issue is companies like TD ameritrade loaned out stock for hedge funds to short. What happens if that fund goes belly up and now they can’t get the stock back
this is a cascading mess.
I decided to cash out and withdraw from Ameritrade and Interactive Brokers until this thing resolves. I don’t trust that Biden can deal with it. SEC asking Robinhood for the blue sheet trading data.
Hopefully this rights itself soon.
Boomers think it’s money.
It’s MAGA. It’s a big giant F you to the system.
They’ll hold until the system breaks. They’ll hold until the funds go broke because they really don’t care about the money. They’re in it for the game. For payback.
Boomers don’t understand it. That’s why they lost $20 billion will lose $100 billion before it’s over.
This is the Capitol riot online with Wall Street the target.
They won’t sell until it hits 1000 a share.
The big ripple effect was Robinhood and other trading houses restricting GME purchasing and even seizing and selling clients’ GME shares. That sent a confidence shock into the market which may precipitate a full on correction.
the clearing house that RH uses is demanding
100% collateral as opposed to the usual 5%.
that is why RH is declining trades
Good.
short sellers suck. May they all end up holding ‘will work for food’ signs
I was under the impression the entity shorting had to put up money to cover the purchase.
Hmmm ... what would happen if all these guys requested physical stock certificates?
As an owner you can do that for most companies. That way it’s a physical piece of instrument and can’t be loaned, forced sell etc.
Well the shorts will try to get their money back as the stocks slide back down to a normal range. This bubble won’t last for these stocks. The people buying into these stocks would be wise to sell and cash in their chits.
Speculation being engaged on both sides hoping to win a lottery or something.
I don’t have a Robinhood account. I read they self clear. So I looked it up and saw this
“In 2018, we launched Clearing by Robinhood, our in-house clearing platform. Before this conversion, customers’ trades were cleared by Apex Clearing. Since the conversion, customers’ trades have been cleared by Robinhood Securities.”
Margin
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.