Robin Hood just ended trading on GameStop and AMC

[Anonymous]

Anonymous wrote:

Anonymous wrote:E*Trade is restricting trades in Gamestop. Time to figure out how to widen the conspiracy theory to include them:

https://www.bloomberg.com/news/articles/2021-01-28/e-trade-restricts-purchases-of-gamestop-amc-shares

It's true. I just tried to buy 4 shares of AMC with my own money on e-trade(no margin) and it's a no go:

"Opening orders for this security cannot be accepted online at this time. For assistance with placing this order, please contact Customer Service at 1-800-ETRADE-1 (1-800-387-2331)".

This is absolutely ridiculous!

And now that you know this isn't a Robin Hood conspiracy, here's your next tidbit. Melvin Capital and Citron already closed their short positions. So yay, the hedge funds were defeated. Now a whole bunch of people are holding securities they bought at prices over $100.

So, the redditors are like QAnon. They are inside the capitol. What do they do next? Where's the end game for the person who posted this morning about how he can pay for his sister's college? Will he soon be posting about how he lost his savings?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Supposedly ba whistleblower inside of Robin Hood has leaked on WSB that the White House and Sequoia Capital have pressured management at RH to block trading of GME.


Who in the WH requested this is the real question. Maybe it is Biden's new pick Janet Yellen? LO AND BEHOLD, Yellen has received huge sums of money from Citadel, one of the main firm in the middle of this all.

https://www.politico.com/news/2021/01/01/yellen-made-millions-in-wall-street-speeches-453223


This could be a huuuuge scandal unfolding. WSB and reddit are exposing the insane corruption of our system.

WSB already debunked this as fake. The dude who posted the rumor was supposedly "low level IT employee of Robinhood" who heard the rumor 3rd hand. So dumb if you believe this without a shred of verification.

God it's like we learned nothing from QAnon.

It will only get worse if RH and the hedge funds are not punished...

RH let people buy on margin. They had no choice but to protect themselves. A lot of people are going to suffer, and it's not going to be hedge funds or trading platforms or banks. It's going to be small investors who got in over their heads. The stock is not anywhere near its actual value, and no small investor should be paying more than its actual value. We can have differences in opinion as to what that value is, but it sure ain't $400. It's not $100.

Stop right here. This was only one small part of the issue.

The bigger controversy is that Robinhood, Interactive Brokers, and Apex Clearing (which services dozens of retail trading platforms) outright BANNED cash purchases and call options for specific single name equities. There was no margin involved in these trades. They only allowed sales transactions. If you ban purchases and only allow sales, which direction do you think the price will go?!?

The chairman of Interactive Brokers went on CNBC this afternoon and said he was banning purchases of GME because "we want to protect our investors" and "I think it's only worth $17."

F#cking nuts and utterly corrupt. This was all about protecting their hedge fund clients and dumping the losses on retail investors. People should literally be sent to prison for this - it's outright theft.

This!

This is correct and is the big problem. Why stop people from buying with cash, crazy and not fair!

The brokerages are not risk free in executing these trades.

What is the risk of executing a cash trade?

The risk is angering the hedge funds.

This. We're out for blood. No one in hell tomorrow's calls on AMC and GME are covered. My rocket is ready to ride.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:E*Trade is restricting trades in Gamestop. Time to figure out how to widen the conspiracy theory to include them:

https://www.bloomberg.com/news/articles/2021-01-28/e-trade-restricts-purchases-of-gamestop-amc-shares

It's true. I just tried to buy 4 shares of AMC with my own money on e-trade(no margin) and it's a no go:

"Opening orders for this security cannot be accepted online at this time. For assistance with placing this order, please contact Customer Service at 1-800-ETRADE-1 (1-800-387-2331)".

This is absolutely ridiculous!

And now that you know this isn't a Robin Hood conspiracy, here's your next tidbit. Melvin Capital and Citron already closed their short positions. So yay, the hedge funds were defeated. Now a whole bunch of people are holding securities they bought at prices over $100.

So, the redditors are like QAnon. They are inside the capitol. What do they do next? Where's the end game for the person who posted this morning about how he can pay for his sister's college? Will he soon be posting about how he lost his savings?

1. There's still open short positions
2. That person would have made money had the brokerages not done what they did.
3. The trade had an end game. It was going to burn out after the short options closed tomorrow.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:E*Trade is restricting trades in Gamestop. Time to figure out how to widen the conspiracy theory to include them:

https://www.bloomberg.com/news/articles/2021-01-28/e-trade-restricts-purchases-of-gamestop-amc-shares

It's true. I just tried to buy 4 shares of AMC with my own money on e-trade(no margin) and it's a no go:

"Opening orders for this security cannot be accepted online at this time. For assistance with placing this order, please contact Customer Service at 1-800-ETRADE-1 (1-800-387-2331)".

This is absolutely ridiculous!

And now that you know this isn't a Robin Hood conspiracy, here's your next tidbit. Melvin Capital and Citron already closed their short positions. So yay, the hedge funds were defeated. Now a whole bunch of people are holding securities they bought at prices over $100.

So, the redditors are like QAnon. They are inside the capitol. What do they do next? Where's the end game for the person who posted this morning about how he can pay for his sister's college? Will he soon be posting about how he lost his savings?

What in the world are you talking about.

AMC was $10 when I tried to buy it.

Who are you? Do you work for Melvin Capital and Citron? Did you close the positions for them?

The redditors are nothing like Qanon. I worry more about your state of mind than those of the people buying GME at over $100 if you keep spewing this rubbish.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:E*Trade is restricting trades in Gamestop. Time to figure out how to widen the conspiracy theory to include them:

https://www.bloomberg.com/news/articles/2021-01-28/e-trade-restricts-purchases-of-gamestop-amc-shares

It's true. I just tried to buy 4 shares of AMC with my own money on e-trade(no margin) and it's a no go:

"Opening orders for this security cannot be accepted online at this time. For assistance with placing this order, please contact Customer Service at 1-800-ETRADE-1 (1-800-387-2331)".

This is absolutely ridiculous!

And now that you know this isn't a Robin Hood conspiracy, here's your next tidbit. Melvin Capital and Citron already closed their short positions. So yay, the hedge funds were defeated. Now a whole bunch of people are holding securities they bought at prices over $100.

So, the redditors are like QAnon. They are inside the capitol. What do they do next? Where's the end game for the person who posted this morning about how he can pay for his sister's college? Will he soon be posting about how he lost his savings?

Shorts are still 120%+ of float for GME and around 80% for AMC. The calls are not covered yet. GME closed over $200 today and there's millions of call option contracts that expire tomorrow at sub-$50 strike price. It's gonna be nasty for the hedge funds.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:E*Trade is restricting trades in Gamestop. Time to figure out how to widen the conspiracy theory to include them:

https://www.bloomberg.com/news/articles/2021-01-28/e-trade-restricts-purchases-of-gamestop-amc-shares

It's true. I just tried to buy 4 shares of AMC with my own money on e-trade(no margin) and it's a no go:

"Opening orders for this security cannot be accepted online at this time. For assistance with placing this order, please contact Customer Service at 1-800-ETRADE-1 (1-800-387-2331)".

This is absolutely ridiculous!

Oh, dear! First world problems!

Oh, shut up. India is taking part in this game as well.

Nah. You're all a bunch of a-holes defrauding each other. Difference is, one side portrays themselves to look like some virtuous common man, when in reality, that image is just as pumped as GME's real worth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:E*Trade is restricting trades in Gamestop. Time to figure out how to widen the conspiracy theory to include them:

https://www.bloomberg.com/news/articles/2021-01-28/e-trade-restricts-purchases-of-gamestop-amc-shares

It's true. I just tried to buy 4 shares of AMC with my own money on e-trade(no margin) and it's a no go:

"Opening orders for this security cannot be accepted online at this time. For assistance with placing this order, please contact Customer Service at 1-800-ETRADE-1 (1-800-387-2331)".

This is absolutely ridiculous!

Oh, dear! First world problems!

Oh, shut up. India is taking part in this game as well.

Nah. You're all a bunch of a-holes defrauding each other. Difference is, one side portrays themselves to look like some virtuous common man, when in reality, that image is just as pumped as GME's real worth.

I believe this is a perfect example of a colonial mentality.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:E*Trade is restricting trades in Gamestop. Time to figure out how to widen the conspiracy theory to include them:

https://www.bloomberg.com/news/articles/2021-01-28/e-trade-restricts-purchases-of-gamestop-amc-shares

It's true. I just tried to buy 4 shares of AMC with my own money on e-trade(no margin) and it's a no go:

"Opening orders for this security cannot be accepted online at this time. For assistance with placing this order, please contact Customer Service at 1-800-ETRADE-1 (1-800-387-2331)".

This is absolutely ridiculous!

And now that you know this isn't a Robin Hood conspiracy, here's your next tidbit. Melvin Capital and Citron already closed their short positions. So yay, the hedge funds were defeated. Now a whole bunch of people are holding securities they bought at prices over $100.

So, the redditors are like QAnon. They are inside the capitol. What do they do next? Where's the end game for the person who posted this morning about how he can pay for his sister's college? Will he soon be posting about how he lost his savings?

Shorts are still 120%+ of float for GME and around 80% for AMC. The calls are not covered yet. GME closed over $200 today and there's millions of call option contracts that expire tomorrow at sub-$50 strike price. It's gonna be nasty for the hedge funds.

DP.

Where do you find these numbers?

If these numbers are correct, shorting should be illegal. These companies cannot be this reckless and keep shorting even after buying has been banned to give them an opportunity to cover their shorts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:E*Trade is restricting trades in Gamestop. Time to figure out how to widen the conspiracy theory to include them:

https://www.bloomberg.com/news/articles/2021-01-28/e-trade-restricts-purchases-of-gamestop-amc-shares

It's true. I just tried to buy 4 shares of AMC with my own money on e-trade(no margin) and it's a no go:

"Opening orders for this security cannot be accepted online at this time. For assistance with placing this order, please contact Customer Service at 1-800-ETRADE-1 (1-800-387-2331)".

This is absolutely ridiculous!

Oh, dear! First world problems!

Oh, shut up. India is taking part in this game as well.

Nah. You're all a bunch of a-holes defrauding each other. Difference is, one side portrays themselves to look like some virtuous common man, when in reality, that image is just as pumped as GME's real worth.

You are the first to mention "virtuous" in this thread. These people are trying to make money just like hedge funds try to make money when they short.

[Anonymous]

People don't understand the short interest. Short interest is not reported daily. It's reported every 2 weeks. And it's lagged. In the next day or so, we'll know the short position as of January 15, two weeks ago.

https://seekingalpha.com/article/4401549-gamestop-bubble-and-why

Nobody actually knows today's short interest. What we do know is that the big shorts exited their positions. Oh the lessons the rubes are going to learn...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Supposedly ba whistleblower inside of Robin Hood has leaked on WSB that the White House and Sequoia Capital have pressured management at RH to block trading of GME.


Who in the WH requested this is the real question. Maybe it is Biden's new pick Janet Yellen? LO AND BEHOLD, Yellen has received huge sums of money from Citadel, one of the main firm in the middle of this all.

https://www.politico.com/news/2021/01/01/yellen-made-millions-in-wall-street-speeches-453223


This could be a huuuuge scandal unfolding. WSB and reddit are exposing the insane corruption of our system.

WSB already debunked this as fake. The dude who posted the rumor was supposedly "low level IT employee of Robinhood" who heard the rumor 3rd hand. So dumb if you believe this without a shred of verification.

God it's like we learned nothing from QAnon.

DeBUNK!! DeBUNK!!!

No one believes the debunkers anymore

[Anonymous]

The tally so far: The shorts exited with a $5 Billion loss.

The hedge funds that were long that I know of made $3.5 billion.

Net losses to the big money: $1.5b. You showed 'em!

And now a bunch of individual investors are holding a stock that is overvalued by $11 billion. Ouch!

[Anonymous]

Anonymous wrote:People don't understand the short interest. Short interest is not reported daily. It's reported every 2 weeks. And it's lagged. In the next day or so, we'll know the short position as of January 15, two weeks ago.

https://seekingalpha.com/article/4401549-gamestop-bubble-and-why

Nobody actually knows today's short interest. What we do know is that the big shorts exited their positions. Oh the lessons the rubes are going to learn...

No. We know that some, but not all, of the known big shorts said they closed out yesterday

[Anonymous]

Anonymous wrote:

Anonymous wrote:People don't understand the short interest. Short interest is not reported daily. It's reported every 2 weeks. And it's lagged. In the next day or so, we'll know the short position as of January 15, two weeks ago.

https://seekingalpha.com/article/4401549-gamestop-bubble-and-why

Nobody actually knows today's short interest. What we do know is that the big shorts exited their positions. Oh the lessons the rubes are going to learn...

No. We know that some, but not all, of the known big shorts said they closed out yesterday

Who's left?

[Anonymous]

Anonymous wrote:

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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.

Are you sure you don't work for a hedge fund. Because you sound a lot like them- making stupid bets without thinking twice,

Go and do your homework before spewing your ignorance - the first people in have been in since 2019/2020.

They bought GME stocks for $4- because they believed the company was worth more than $4 dollars a share. The company got a new CEO, and enthusiasm around the company grew. The hedge funds decided that making money off the company failing was more important than anything the new CEO could offer even before the CEO had a chance to show what he was worth. So the hedge funds shorted the stock (shorted more shares than actually exist-how in the world is the legal?)

They started putting out horrible valuations after they had shorted the company to drive down the price back down to where it was before the new CEO was hired. Redditors decided to beat them at their game.

Yeah, I am quite sure. There are people buying GME at $400 a share. GME is not even remotely worth this. Meanwhile a South Korean asset managment company with a long term 5% stake just sold for over $1 billion. And there are lots of people in this pump and dump scheme who got in at $5, $10, $20 cheering on more rubes to "stick it to the hedge funds". They are watching their positions go up and up and up. They will dump their shares and someone will be left holding the bag.

Fascinating how you're looking at this but are ignoring the shorts. Are they invisible to you? Or is it just that you cannot believe that reddit might be right every once in a while?

I'm not. But who is more damaging to the small investor? The guy who says "buy Gamestop at $400" or the one who says "Sell at 11?"

Look, you're probably young and you don't remember how stock manipulation works. You can be forgiven for that. But look at the math. The market distortion by the shorts in this stock is a tiny fraction of the distortion caused by the pump and dump scheme going on.

But don't believe me. You figure out what you think is the fair, long term stock price for GME and judge everyone based on how far they are from that number.

I don't believe you. Next Monday, GME will end up somewhere between $4 and $400. And a couple hedge funds will close their doors.

Fin.

I love people who try to close discussions like that.

Next Monday, the hedge funds will still be there. But what will happen to thousands of investors who bought stock way above 11? Do you even care about them?

These hedge funds will still be there because they manipulated the market. They cheated. That is why there is outrage. Do you care about that?

Do I like short selling? No. Is it legal? Yes.

Am I going to send a thousand unarmed innocents into battle to beat some short sellers? No.
Am I going to let a bunch of scammers make a fortune off of these innocents? No.
Is it illegal to run a pump and dump scheme? YES!!!

I see a grift. It's EXACTLY like the grifts I saw 20 years ago. The leaders have all bought Gamestop at low prices. They are telling other people to buy at high prices. They know for certain that the stock is not worth the price they are advising people to buy. I'm looking at this subreddit and it's all wrong.

There's no grift. There was no pump and dump. WSB said hold. They said do nothing. They saw a situation where billionaire investment professional traders had a ton of naked shorts and took advantage. The professionals screwed up and retail took advantage. Then the brokerages bailed out the hedge funds by forcing retail to sell at a loss. Last i checked, it's illegal to do a naked short. It's not illegal to refuse to sell a stock for a low price.

How can you even pretend to talk about valuations? Tesla is worth more than every other car company in the entire world combined. Apple just produced record breaking insane quarterly profits and fell in price. Stock valuations are not as pure as you claim.

Oh stop. You aren't an investor. You are a speculator. You are now telling me that stock prices mean nothing.
1. Tesla is overvalued. If I actually believed in short selling, I would do it. But I don't.
2. There is nothing illogical about a stock's price going down after a good earnings announcement.

Lol, you dont know my portfolio or my strategy. I just so happen to be a fundamentals person but that doesnt mean i cant see whats going on. I'm not telling you that stock prices are meaningless. I'm just reminded you of econ101. There is no such thing as intrinsic value, that is why the market is used as a price discovery mechanism.

There is absolutely everything illogical, on a fundementals basis, about dropping after a historic beat. But please, explain the fundemtals argument behind that.

You didn't get far in school. You confuse the idea of intrinsic value with an individual's ability to know it.

As for "a historic beat"? Why are you looking at a one day closing price? A real investor says the stock price was $25 five years ago, and today it's at $137. Also, a real investor knows that stock price is based on future, not past earnings.

DP. A real investor can figure out what is happening with GME, RH, reddit, and Melvin/Citadel etc.

Brush up on your skills.

Yes, some people on reddit are running a pump and dump scam. They have fooled people into believing this is an epic battle against hedge funds. Redditors, these are your invetment advisors:

So which hedge fund or lobbyist firm do you work for?

None! Twenty years ago I wrote software to identify internet stock scams on Raging Bull and some of the other boards. I'm sharing expertise. Looking at the Reddit, it's just like Raging Bull except with memes and emoji.

And your expertise includes linking a violent mob who stormed the capital to redditors who want to profit from a stupid game that hedge funds play? You should be ashamed of yourself.

If you have arguments to make, do your research(read the reddit boards) and come up with something productive. I actually read quite a few of them today to try to understand what is going on.

It's pretty sad that you are actually someone with something worthy to contribute to this topic. You are a disgrace!

I read the Reddit. That's exactly why I have come to the conclusion that they look like the stock boards from 20 years ago. You can call me a disgrace, but in a month I will have warned the people who are about to lose a lot of money.

But all that said, you don't need me to tell you that this stock is not worth $400. So the redditor end game (my reference to the capitol attack) is that everybody sells, just like the end game of the attack on the capitol is that everyone leaves. The end game is to sell before the suckers do. Back in Y2K, the leader of a pump and dump scam would need several days to close out their positions. During that time they would want to keep the momentum up on the stock so the bottom doesn't fall out while they are doing it. Seems like what's going on right now. If I could rewrite my code, I'd run a timeline of the posts of the key redditors. At some point the SEC might try to link those accounts to trades to see if they were telling people to buy while they were selling.