Reply to Robin Hood just ended trading on GameStop and AMC

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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

[/quote]

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![/quote]

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?[/quote]

NP.

F@@@ you pp. Equating everyday Americans, again crushed under the heel of big business to seditionist traitors. Hedge funds tried to bankrupt GameStop to make a buck. A bunch of small time investors banded together to make sure they paid for their continued destruction of American companies for profit.

Most of them literally do no gaf about the money. The subreddit is one post after another saying they don’t care if they lose as long as they drive the lesson home. I myself, a woman who had never been to the subreddit before today, spent $100 on Nokia and amc just in solidarity with them. Do not care if I lose all of it. There are a lot of us. And we’re not committing effing train you elitist wealth inequality championing apologist for the billionaires.[/quote]

Well I didn't say you are seditionists, but you sure as heck are following an anonymous Redditor down a rabbit hole.  I'm betting Q didn't get his ass arrested in the Capitol, and I'm betting your pied piper will make millions at the expense of your compatriots. Glad to know you have money to blow just to make a point.  That's not elitist at all! :lol:[/quote]

You can't fix stupid.[/quote]

Ironically no matter how many times you all are corrected and presented with the facts you refuse to accept reality.  Sounds like the qanon people to me.  Except instead of Comrt's basement it's some sort of messageboard boiler room.[/quote]

You gave your opinions and assumptions based on your expertise from decades ago. Those are not facts. Everyone who disagrees with you sounds like QAnon to you.

You would fit in very well with the QAnon crowd; you demonize everyone who does not see the world exactly as you do.[/quote]

OK show me your experience in online securities fraud.  I'll wait...,[/quote]

The more you deny people like me exist when I know they do because I am one and know many (people who are happy to spend some money for the sole purpose of sticking it to Wall Street) the less credible I find you. I know I’m who I say I am, no idea who you are[/quote]

You have that much experience in securities fraud but are somehow ignoring the naked short selling and greater than 100% short interest?  That's basic fundamental securities fraud.  You're not making any sense.[/quote]

You don't know how much is out there because short interest is about 4 weeks out of date.  Today or tomorrow we will get new short interest data.  For January 15.  [/quote]

It's a factual impossibility to acquire more than 100% of the shares[/quote]

It's like I say things and they just don't even register with you.  [/quote]

The feeling is mutual.

It doesn't matter that it was 30 days ago.  The fact that it was >100% means that somebody was more than likely committing securities fraud. Someone was double dipping and they cannot all be covered.  Sure, there's a possibility they were able to negotiate an end to some of those contracts but they would never have been able to be completely covered.  It's even worse because a good chunk of the shares are owned by passive etfs and therefore not available.[/quote]

Sigh.  It can happen.  Legally.  And the positions can be unwound.  Here it is in plain simple English.  
https://www.fool.com/investing/2021/01/28/yes-a-st...short-interest-over-100-heres/[/quote]

You might want to re-read that.  That article explains how it can occur and how people can have legal naked shorts.  Those are two separate issues.  As the article states, short seller may borrow shares and that those underlying borrow shares may be bought and then lent out again.  But what's missing is that the lenders cant lend out something they no longer have an interest in.  That's fraud.  Now normally it's not a big deal.  People take their wins or losses and pay up.  No harm no foul.  Internet streaming or speeding as it were.  This time however it is different.  The loser doesn't want to pay.  This means we have to look at it.

Moreover, this should have all been managed on the way up by margin and risk mitigation obligations.  Why did those brakes not occur? Were corners cut or improper grace periods given?

Lastly, once they got caught with their pants down how did they get out of it today? Every professional trader knew what had happened, what possible incentive would they have to sell?  Was their collusion and did anybody breach their fiduciary duty?[/quote]

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