Posted on 01/29/2021 8:03:20 AM PST by Navy Patriot
GameStop shares are surging again ahead of U.S. markets opening on Friday as online brokerage Robinhood eases restrictions on the purchase of certain shares. Robinhood had been faced with threats of a boycott from some Reddit users at the Wallstreetbets forum, who had bid up GameStop's shares prior to the trading ban.
...
"Robinhood could have changed the rules, but a complete restriction on trading was wrong and that is why we are seeing AOC and Ted Cruz on the same side of that argument," noted Edward Moya, senior market analyst at OANDA, in a Friday research note.
Already, the turmoil has sparked at least one lawsuit, with Rosen Law Firm saying on Thursday that it is "investigating potential securities claims on behalf of those who lost money" using Robinhood "resulting from allegations that Robinhood may have engaged in illegal market manipulation."
(Excerpt) Read more at cbsnews.com ...
Make that an Extra good stiff letter ...
And Cruz's people need to work harder to dissociate the MSM driving these AOCruz fluff__ pieces...
And if that fails to result in an alteration of their behavior, we must inform them that we shall be forced to NOTIFY THE AUTHORITIES, SIR!!! THE AUTHORITIES!!!
“And Cruz’s people need to work harder to dissociate the MSM driving these AOCruz fluff__ pieces..”
Hopefully this will complete Ted’s ‘journey’ to understand just who the Democrats are and how the Republicans are REALLY looked at by the Democrats...despite their sweet-talk to our side in private.
By they way, Rush has detailed exactly how the Democrats view us, for over 30 YEARS now...and the vast majority of Republicans, Cruz included, viewed Rush as just another loudmouth, only in it for the ratings. Now that Cruz has been told, to his face, that he’s an attempted murderer, that should help him focus properly and perhaps try to believe what Rush says about the Democrats. For once.
Hovering around 331 +71%
It needs to finish strong today at close.
I think it will. I thought about buying one share just before close yesterday just to help the cause.
One month ago GME was under $20!
How would you like to sell stock for $20 and buy it back for $331?! Lol
All of these hedge funds manipulate the market. They don’t even use their own shares to make money. I salute the day traders (my brother is one) for exposing how corrupt they are. Now they are reaping the whirlwind. Bankruptcy for all!
Reddit ,GameStop ,OANDA and Robinhood must be some kind of code
Exactly! The smoking gun is the fact they were able to short more shares than actually existed by 40 percent. That pretty much proves these were sham transactions to begin with. These were not actual accountable short sales. It’s flat out fraud on a massive scale.
Robinhood was required to raise capital because of the volatility of the shares and the concentration of client assets in so few stocks. It was not a political call it was a capital call. Thank you.
“We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit,” AOC said in a tweet.
https://townhall.com/tipsheet/bronsonstocking/2021/01/28/rush-limbaugh-weighs-in-on-gamestop-n2583890
If it's some billionaire hedge fund buying 140% of existing shares at $331 so they can deliver 'em to Short Contract Buyers at the $20 Contract price, I'd pay for a grandstand seat to watch that.
And the supposedly neutral regulators said nothing until the hedge fund crooks started taking it right between the eyes and now they go after people who did that same thing the hedge fund big boys were doing? This is how revolutions start when you start stealing peoples money outright.
This is the issue. Maybe if there’s a securities lawyer online he/she could answer this. “How does the market get short a name to the extent that more than 100% of the float is sold?” I would think this would be exactly the sort of thing the SEC would have responsibility for. Obviously the Trump administration was single-mindedly dedicated to non-enforcement of financial regulation, but still, this seems extreme.
Somebody is not going to have a seat when the music stops ..
I guess the owner of Game Stop holds at least 51%. If it was me, I would sell out immediately and, if not retire, open a new Game Start business. Should be able to buy back most of the stores for pennies on the dollar in a couple of weeks.
There’s nothing illicit about shorting more than 100% of the shares in a company subject to short sales. In a frenzy like this many of them are changing hands multiple times even within a few hours.
April 2, 2020
Low $2.57?
Take care........pilgrim
Well, there should be. I see a lot of people upset over this volatility and that would be one way to prevent an upset like this.
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