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re: What’s the end game on these Reddit/WSB pumps?
Posted on 1/27/21 at 11:54 am to wutangfinancial
Posted on 1/27/21 at 11:54 am to wutangfinancial
yeah chamaths progressive politics lines up mostly with mine but damn, im glad seemingly everyone is on board with his words regarding the market right now
0
Posted on 1/27/21 at 11:55 am to High C
quote:
Unless I’m just completely reading wrong
You are.
The market has been manipulated, correct. But not by wsb.
Posted on 1/27/21 at 11:56 am to wutangfinancial
quote:
CNBC says GME isn't trading at it's fundamental value
Is that even debatable? No one believes that is the fundamental value, nor does anyone care.
And that is the point on all this... I think it is hilarious that the hedge funds got FUBAR'd on this.
It is truly David vs Goliath....
But none of that has to do with fundamentals... and eventually fundamentals will matter and the last purchasers at $300 or higher will get wiped out.
May be in a day week month or year but it will happen.
But that is OK
Posted on 1/27/21 at 11:56 am to Dawgfanman
quote:
To effect, alone or with one or more other persons, a series of transactions in any security registered on a national securities exchange creating actual or apparent active trading in such security or raising or depressing the price of such security, for the purpose of inducing the purchase or sale of such security by others
You realize that the entire market is moving based off of this exact phrasing right?
Posted on 1/27/21 at 11:57 am to igoringa
So it’s a pump and dump scheme?
Posted on 1/27/21 at 11:59 am to Huge Richard
quote:
So it’s a pump and dump scheme?
No it's a heavily shorted stock with insane call buying and a cultish HODLer following that won't sell their shares. You can make this comparison with most tech stocks this board is infatuated with.
Posted on 1/27/21 at 12:00 pm to JohnnyKilroy
quote:
Unless I’m just completely reading wrong
You are.
Highly possible
I make no claims to understanding market manipulation.
Posted on 1/27/21 at 12:00 pm to wutangfinancial
quote:
won't sell their shares
Posted on 1/27/21 at 12:05 pm to High C
The market was manipulated years/months ago by Wall Street over shorting the stock.
They are now paying the price for that manipulation. If THEY hadn't manipulated the stock by intentionally driving it into the ground with no concern for the risk of this exact thing happening, this wouldn't have happened.
They are now paying the price for that manipulation. If THEY hadn't manipulated the stock by intentionally driving it into the ground with no concern for the risk of this exact thing happening, this wouldn't have happened.
This post was edited on 1/27/21 at 12:06 pm
Posted on 1/27/21 at 12:07 pm to High C
I'd venture to guess that everyone involved in it has a different end game. It started to frick over hedge funds, but many involved now are just using it to cash in.
Posted on 1/27/21 at 1:04 pm to High C
quote:
end game
Posted on 1/27/21 at 2:02 pm to PierPunk
So what stock is next lol
Posted on 1/27/21 at 2:06 pm to Tmar1no
Well whichever of you has a reddit account needs to go drop the line that ole Elon is looking to buy Standard Lithium.
Posted on 1/27/21 at 2:07 pm to 50_Tiger
quote:
I’m so mad I missed the GME boat
Posted on 1/27/21 at 2:13 pm to Huge Richard
quote:
So it’s a pump and dump scheme?
No it is meant to frick over hedge fund manages who got greedy shorting GME. They could have bought their shorted stocks and made a ton but they got greedy and wanted to force GME out of business before buying back stack and making even MORE money.
The autists said frick you and now we are going to cost you $20 billion in your greedy shorting activities.
As a biproduct, yes some people are making huge bank but in the end the vast majority will essentially be taking a loss just to show wall street that the retail investors can play the game too.
Posted on 1/27/21 at 2:13 pm to High C
quote:
Are they just trying to demonstrate how much they can manipulate the market?
I think part of it must be to "call out" these shorters that are beating up on stocks in every public way they can just to get a little squeeze out of them. They got busted on this one.
Posted on 1/27/21 at 2:23 pm to Kingpenm3
Is there a link to the subreddit ?
Posted on 1/27/21 at 2:29 pm to michael corleone
Just search wallstreetbets, same on twitter
Posted on 1/27/21 at 3:03 pm to Dawgfanman
quote:Seems like they kicked this off, but their money in on GME I imagine is peanuts compared to other hedge funds who really turned this up a few notches.
They arent manipulating the fricking market
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