Robin Hood just ended trading on GameStop and AMC

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This has been discussed on the Money forum for days. But what I don't understand is how they can stop the trading. Is that legal?

Trading hasn't stopped.

Robinhood and other platforms aren't doing it.

Watch what happens as the late coming reddit, crowdsourced, populist short squeezers lose their shirts.

Yeah. Hedge funds lost a bunch of replaceable billions. The squeezers will lose the money that they can't replace.

Legal? Maybe. Actionable as a tort? Also maybe.

+1 it’s arguably market manipulation which is illegal under the securities act of 1934.

[Anonymous]

Anonymous wrote:It’s been pathetic to watch MSM outlets like CNN, FT and Time try to frame this as a far right/alt-right/Trumpism thing. Transparent and lazy.

What? I haven’t seen a single reporter trying to tie this to Trump. I think you read a lot into reporting.

[Anonymous]

This is RIDICULOUS market manipulation. They did this before Friday, which is when there may be a gigantic gamma squeeze due to call options expiring. Blatant manipulation of the highest degree. They know that if they can't tank the stock below $200 by tomorrow the squeeze will be epic and they'll lose billions. Funny how the funds have free rein to buy and sell at will, but your average Joe with $1000 can't buy.

The entire system is absolutely rigged beyond belief.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s been pathetic to watch MSM outlets like CNN, FT and Time try to frame this as a far right/alt-right/Trumpism thing. Transparent and lazy.

What? I haven’t seen a single reporter trying to tie this to Trump. I think you read a lot into reporting.

https://www.cnn.com/2021/01/27/politics/gamestop-stock-surge-trumpism/index.html

[Anonymous]

Anonymous wrote:

Anonymous wrote:This has been discussed on the Money forum for days. But what I don't understand is how they can stop the trading. Is that legal?

Trading hasn't stopped.

Robinhood and other platforms aren't doing it.

Watch what happens as the late coming reddit, crowdsourced, populist short squeezers lose their shirts.

Yeah. Hedge funds lost a bunch of replaceable billions. The squeezers will lose the money that they can't replace.

What you don't get is that a ton of people don't care about the money. This is guerrilla class warfare. Redditors want to stick it to the elites who got bailouts in 2008 and who have now gotten more wealthy during the pandemic while the middle class constant continues to get trampled on. No one bailed out the middle class in 2008. This is payback.

The money irrelevant.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This has been discussed on the Money forum for days. But what I don't understand is how they can stop the trading. Is that legal?

Trading hasn't stopped.

Robinhood and other platforms aren't doing it.

Watch what happens as the late coming reddit, crowdsourced, populist short squeezers lose their shirts.

Yeah. Hedge funds lost a bunch of replaceable billions. The squeezers will lose the money that they can't replace.

What you don't get is that a ton of people don't care about the money. This is guerrilla class warfare. Redditors want to stick it to the elites who got bailouts in 2008 and who have now gotten more wealthy during the pandemic while the middle class constant continues to get trampled on. No one bailed out the middle class in 2008. This is payback.

The money irrelevant.

Having studied various pump and dump schemes around the year 2000, I would not assume for a minute that the money is irrelevant to the people sucked into this. I would put good money that the first people in are running a scam and killing a hedge fund is just a way to attract more rubes.

[Anonymous]

Wall Street has already lost $70b on Gamestop. And it's only Thursday.

Also, Robinhood is helpfully selling Gamestop stock for its investors. They have not thought this through. Do they really think they'll be able to survive this?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This has been discussed on the Money forum for days. But what I don't understand is how they can stop the trading. Is that legal?

Trading hasn't stopped.

Robinhood and other platforms aren't doing it.

Watch what happens as the late coming reddit, crowdsourced, populist short squeezers lose their shirts.

Yeah. Hedge funds lost a bunch of replaceable billions. The squeezers will lose the money that they can't replace.

What you don't get is that a ton of people don't care about the money. This is guerrilla class warfare. Redditors want to stick it to the elites who got bailouts in 2008 and who have now gotten more wealthy during the pandemic while the middle class constant continues to get trampled on. No one bailed out the middle class in 2008. This is payback.

The money irrelevant.

Having studied various pump and dump schemes around the year 2000, I would not assume for a minute that the money is irrelevant to the people sucked into this. I would put good money that the first people in are running a scam and killing a hedge fund is just a way to attract more rubes.

It's not a pump and dump scheme, dear. It's the opposite.

[Anonymous]

RH canceled my pending blackberry purchase this morning. Basically any stock that’s come up on WSB is now so longer available to the commoners to buy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s been pathetic to watch MSM outlets like CNN, FT and Time try to frame this as a far right/alt-right/Trumpism thing. Transparent and lazy.

What? I haven’t seen a single reporter trying to tie this to Trump. I think you read a lot into reporting.

Agree. I haven't seen this either.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This has been discussed on the Money forum for days. But what I don't understand is how they can stop the trading. Is that legal?

Trading hasn't stopped.

Robinhood and other platforms aren't doing it.

Watch what happens as the late coming reddit, crowdsourced, populist short squeezers lose their shirts.

Yeah. Hedge funds lost a bunch of replaceable billions. The squeezers will lose the money that they can't replace.

You've got it backwards, friend. The redditors can afford to lose some fun money. The hedge funds cannot afford to lose billions.

+1

Wall Street is furious that the little guy has figured out how to manipulate the market just like they’ve been doing for 50+ years.

Sauce for the goose.


Of course you can bet Congress will come to their rescue, with bailouts and new laws to protect hedge funds from being hurt again by ordinary people. Schumer will be all over this. Wall Street is his lifeblood.

[Anonymous]

Anonymous wrote:RH canceled my pending blackberry purchase this morning. Basically any stock that’s come up on WSB is now so longer available to the commoners to buy.

It's amazing. We have ring side seats to Robinhood's self-immolation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s been pathetic to watch MSM outlets like CNN, FT and Time try to frame this as a far right/alt-right/Trumpism thing. Transparent and lazy.

What? I haven’t seen a single reporter trying to tie this to Trump. I think you read a lot into reporting.

RobinHood called them (the Reddit folks) “a racist, sexist conspiracy”

[Anonymous]

Anonymous wrote:This is RIDICULOUS market manipulation. They did this before Friday, which is when there may be a gigantic gamma squeeze due to call options expiring. Blatant manipulation of the highest degree. They know that if they can't tank the stock below $200 by tomorrow the squeeze will be epic and they'll lose billions. Funny how the funds have free rein to buy and sell at will, but your average Joe with $1000 can't buy.

The entire system is absolutely rigged beyond belief.

Yep. Rigged. Totally and completely.

I wanna see them all burn.

[Anonymous]

Anonymous wrote:So far this Reddit gambit is doing more the unite people than any politician

This.

This is a clear example of how the game is tilted in favor of the rich. When they bet, they always win because they change the rules anytime they start losing. The amount of cynism and anger harbored by everyday people stems from these kinds of things.

How are you supposed to compete when each time you beat people at their game, they change the rules so that they don't have to pay up?

If these things don't change, Trump is a saint compared to what is coming.

They could have haulted all trading. But they haulted buying only so that the institutions had no competition when buying to cover their shorts.