Bfl
Robin Hood should rename itself the sheriff of Nottingham.
How do you sell a stock when there is no one buying it?
It’s a classic bear trap. Rare and fun to watch. Hedge funds have lost $75 billion so far on GME. Some have exited their positions (like Melvin Capital) others have joined. Short shares are still >100% outstanding. I guess $300 for a $10 stock is too tempting to pass up. Live and learn.
For later.
Ha ha ha ....that's a real knee slapper. The SEC is now run by the wife of the disgraced FBI criminal, peter stzrok.
A number of years back, my company used Schwab, so I did too. On several occasions I used them to sell a few shares of company stock "at market". I noticed my sale just happened to hit at the lowest price of the day. Thinking it was a coincidence, a while later I sold some again. Again, I just "happened" to hit the low price of the day. Selling at the low point of the day (to the seller), and buying at the high point of the day (to the buyer), reaps a tidy profit to Schwab.
Did they always do this? I don't know. I took my shares out, and left them for good.
The elites have many vulnerabilities. It would be a pity if an invisible army of deplorables began to reveal them in tangible ways.
“Schwab didn’t protect us when the COVID correction hit. So who are they protecting now, from whom and why?”
Profound questions that warrant answers.
If the SEC were to actually do the job with which it is charged, we would get some type of legitimate answers to these questions. Without answers the SEC, vis-à-vis the federal government, is just as crooked as the short traders, robinhood, charles schwab, etc.
My biggest concern here is the company Game Stop. What will happen to them now?
Despite all of the descriptions of short selling, I still do not understand the process. I think the only way for me to understand would be to go through a short sale process (preferably simulated) so that I can see exactly what takes place.
The hedge hoppers are not going to loose $70 Billion without uncle sugar and auntie yellin, giving them our money to save their asses.
BTW, did anyone see how many years in prison that scumbag fbi agent that committed fraud on the fisa court got last week?
What? 12 months probation.
OK, someone from Robinhood is going to jail, and is going to get the same punishment as the crooked fbi pimp.
Many hedge fund boys went bust flaw in shell game noted.
I guess they were SO sure their tactics were foolproof, they never thought to buy way-out-of-the money calls as a CYA.
YEARs ago, that was my tactic when shorting a stock. A tad less profit but no sleepless nights.
“It demands Congressional hearings.”
If I had a dollar for every time someone has said this over the last couple of years and nothing came of it, I would be rich myself. Nobody in charge seems to care about what is right.