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Started By
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I need an explanation; Robinhood & GameStock related
Posted on 1/29/21 at 5:50 am
Posted on 1/29/21 at 5:50 am
Can someone in 150 words or less explain to me the whole Robinhood & Game Stop thing.....and do it like I'm 5.
TIA
TIA
15
Posted on 1/29/21 at 5:52 am to Wtodd
Hedge fund bet against gamestop. Autists saw this and said lets buy a ton of gamestop stocks. Stonks went up. Good guys win
And then the news said:
And then the news said:
This post was edited on 1/29/21 at 5:55 am
Posted on 1/29/21 at 5:52 am to Wtodd
Trading places.
Posted on 1/29/21 at 5:59 am to Wtodd
Hedge funds borrowed GameStop stock and sold it planning to buy it back at a lower price when it was due. Folks found out and bought it up forcing the price up knowing the hedge fund had to buy it back.
Instead of selling it high and buying it back low the hedge funds had to buy it really high thus losing money.
Instead of selling it high and buying it back low the hedge funds had to buy it really high thus losing money.
Posted on 1/29/21 at 6:03 am to Wtodd
Posted on 1/29/21 at 6:41 am to Wtodd
Collusion between hedge funds and brokerages. Also known as market manipulation.
Posted on 1/29/21 at 6:44 am to Wtodd
1. so a bunch of REALLY rich chodes announced a “short” where they would sell burrowed game stock shares at price A to crash the price and then use funds to buy the stock back at a lower price B - pocketing the difference while returning the shares to the lender.
2. Some people on Reddit saw the announcement, and in a protest on Wall Street, they all got together and brought up TONs of stock (via RobinHood) driving the price of game stop stock “to the moon” (cryptocurrency tactic) - thereby leaving these Wall Street guys with their dicks in their hands losing tons of money because these Wall Street guys HAVE to buy back at the high stock value within a certain time to prevent screwing over the people who actually owned the original shares
3. Some powerful people (rumors the White House, itself) pressured Robin Hood to halt trading on that stock so the chodes could recoup losses - which is crazy illegal. RobinHood caved and halted trading.
4. All this proved game is rigged just like the election
TL;DR version: bunch of regular people used a slimey Wall Street trick against Wall Street so now Wall Street wants to take its ball and go home
2. Some people on Reddit saw the announcement, and in a protest on Wall Street, they all got together and brought up TONs of stock (via RobinHood) driving the price of game stop stock “to the moon” (cryptocurrency tactic) - thereby leaving these Wall Street guys with their dicks in their hands losing tons of money because these Wall Street guys HAVE to buy back at the high stock value within a certain time to prevent screwing over the people who actually owned the original shares
3. Some powerful people (rumors the White House, itself) pressured Robin Hood to halt trading on that stock so the chodes could recoup losses - which is crazy illegal. RobinHood caved and halted trading.
4. All this proved game is rigged just like the election
TL;DR version: bunch of regular people used a slimey Wall Street trick against Wall Street so now Wall Street wants to take its ball and go home
This post was edited on 1/29/21 at 6:55 am
Posted on 1/29/21 at 6:49 am to Wtodd
Look up some videos . Tucker has a good one . Billionaires barrow stock they think will drop and sell it . Then buy it at a lower cost and give it back . Sometimes they will even use the media to help get people to panic making the stock drop faster . But this time they were beat at their own game .
Posted on 1/29/21 at 8:07 am to Wtodd
Posted on 1/29/21 at 8:23 am to Wtodd
Posted on 1/29/21 at 8:31 am to Wtodd
There's a group of people who get kicked out of countries for constantly doing tomfoolery wherever they go.
Posted on 1/29/21 at 10:26 am to Wtodd
Posted on 1/29/21 at 10:47 am to Wtodd
Can some one explain what an autist is like I’m 4 but sniffed paint.
Posted on 1/29/21 at 11:07 am to Wtodd
well honestly you are 5
you watch will ferrell level movies exclusively, sports, porn and you eat mainstream shite.
you watch will ferrell level movies exclusively, sports, porn and you eat mainstream shite.
Posted on 1/29/21 at 11:08 am to Wtodd
Posted on 1/29/21 at 11:29 am to Wtodd
In theory, you could take down the whole global system by owning the remaining float.
The big guys don't like it as they have gentleman's agreements not go do this and the government doesn't like it because well it exposes the fraud and could bring down the whole system.
The big guys don't like it as they have gentleman's agreements not go do this and the government doesn't like it because well it exposes the fraud and could bring down the whole system.
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