Posted on 01/28/2021 10:54:41 AM PST by TigerClaws
Best news story of the month.
There is a bit of a difference between selling stock that you don’t own (naked shorts) and selling stock that doesn’t exist (fraud). And if the politicians can’t bail out their owners, fraud might well be exposed.
I’m not sure that the brokers, exchanges, and regulators can afford for fraud to be exposed.
Portnoy is complaining?
I guess hedge funds are more equal that the little guy who holds game stop to get away with these hijinks. Now I think the price will rise until the little guy is willing to sell.
Gamestop just needs to issue and sell more shares...
Not enough money there. Sure, you can make money betting on a winning horse. You can make more money if the race is rigged.
I will defer to others, but I don’t believe this is illegal. This is done via derivatives. Speculators may buy puts (the right to sell at price), or sell uncovered calls.
The notional stock volume of these derivatives could be many times the outstanding float. In a normal market, these get “unwound” as options approach their expiration dates as traders balance positions, but in a very bizarre, illiquid market, like we have now, these turn into time bombs waiting to explode
Good question. Method might be related to such things as time limits on options and the potential for greater gains.
Its a complicated decision for sure.
If that can be proven, THAT is an impeachable offense.
fiat currency...
fiat stocks....
what else?
This is the first thing my stock market savvy son told me; that there were more shorts than available stock. That’s where institutions will be in legal jeopardy. Some Reddits may not clear the profits they expected. I’m hoping the smart Reddits just put themselves at risk with a few hundred dollars. Entertainment dollars you know.
Fake media.
Fake elections.
Fake markets.
People are mad? Put the FBI and DHS on them to shut them up.
Where we are now.
“Entertainment dollars you know.”
This is a lot more entertaining than going to an actual casino to spend some time dropping buck$.
I think I saw somewhere a notice from Robinhood that they were selling holders stocks, against their ability to stop the sale, in order to protect the holder’s position.
Thanks for that link. It clears things up.
Just copy the lawyers in on the mails, and then withhold anything incriminating as privileged. (More difficult in the EU, where the attorney has to be outside counsel to create priv.)
If that can be proven, THAT is an impeachable offense.
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No such thing. Can’t impeach a Democrat — for anything.
I guess hedge funds are more equal that the little guy
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You can be 100% certain that the hedgies have been burning up the phone line with the people they put in office. They are calling in their chips.
Think of this as the Hedge Funds bringing the country back together after a period of deep division.
After all, Ted Cruz and AOC are in agreement now....
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