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Started By
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re: 4Chan breaks the "Gamestop Crisis" down for you, as only they can
Posted on 1/28/21 at 8:36 am to BiteMe2020
Posted on 1/28/21 at 8:36 am to BiteMe2020
quote:
I still don't see how that would be illegal.
i posted the law yesterday. it's the law that covers pump and dump schemes. the thing is, you don't have to "dump" it
so "pump and pump" schemes were born this year i suppose
2
Posted on 1/28/21 at 8:38 am to SlowFlowPro
quote:
i posted the law yesterday. it's the law that covers pump and dump schemes. the thing is, you don't have to "dump" it
so "pump and pump" schemes were born this year i suppose
This isn't a pump and dump.
Pump and dump also seems to need a component of misleading information.
People simply talking about public information - like 130% of the outstanding shares being shorted - isn't pushing fake information. There's no robocalls pushing the stock, no spam emails hyping the stock because of "secret information".
It's just people talking. People can still talk. And they can still buy stocks.
This incident is missing most of the classic "pump and dump" criteria.
And in 10 minutes, I'm up 20% this morning, lol.
This post was edited on 1/28/21 at 8:40 am
Posted on 1/28/21 at 8:39 am to Mid Iowa Tiger
quote:
The best thing that can come out of this are people realizing that the powerful do not care about most of America except at election time.
The worst thing is more government regulations.
Posted on 1/28/21 at 8:41 am to DesScorp
Ahhh, it is so good to be king.
Posted on 1/28/21 at 8:41 am to STEVED00
And some Hedge Fund arse is screaming "Turn those machines back on!!!"
Posted on 1/28/21 at 8:42 am to roguetiger15
The hedge funds have to buy. That’s the brilliant part. They are committed to rebuying the stock regardless of the price.
Posted on 1/28/21 at 8:43 am to SlowFlowPro
quote:
Pump and dump scams are a common type of securities fraud, in which people manipulate a stock’s price using inside information or by spreading incomplete, inaccurate, misleading or completely false statements. They are illegal because these scams violate federal and some state laws banning fraud and the use of misinformation in connection with the purchase or sale of stocks.
Stock tips aren't illegal. There's none of the bolded criteria here, so, while I'm not a lawyer, it seems you're missing something significant.
Nobody is arguing that the underlying company is worth (now $350 a share). They're arguing that the short interest gamblers over gambled. It's not misleading information. It's not false information. It's not incomplete information.
Posted on 1/28/21 at 8:44 am to The General
Hedge fund managers right this minute, especially at Melvin et all.
Posted on 1/28/21 at 8:45 am to BiteMe2020
And this is where the actions of the hedge fund come in IMHO.
If they hadn’t shorted more stock than actually existed, it wouldn’t have been possible for this to happen.
If they hadn’t shorted more stock than actually existed, it wouldn’t have been possible for this to happen.
Posted on 1/28/21 at 8:47 am to teke184
quote:
And this is where the actions of the hedge fund come in IMHO.
If they hadn’t shorted more stock than actually existed, it wouldn’t have been possible for this to happen.
Exactly. I'm already fully invested in my brokerage, and I'm not that much of a risk taker, but I'll net a nice dinner with my GF out of this, if not a full tank of gas, too.
I got in - 1 share - at $289 this morning an it's at $360 in 18 minutes, lol. Just for the chuckles.
Posted on 1/28/21 at 8:47 am to cokebottleag
quote:
Some analysts are saying the hedge funds collectively have lost over 30 billion so far. Might be more today.
Do hedge funds lose or do investors?
Posted on 1/28/21 at 8:48 am to Smokeyone
quote:
Do hedge funds lose or do investors?
Potentially both. If their investors pull out, the hedge fund managers go bust, too.
Depends on who is invested in the hedge funds. I seriously doubt many hedge funds are still holding GME right now.
This post was edited on 1/28/21 at 8:49 am
Posted on 1/28/21 at 8:50 am to Smokeyone
A little of both.
Hedge funds can zero out and the investors lose money, but most institutional investors don’t hold too heavily in any one fund.
But a hedge fund that zeros out is likely personally ruinous to anyone who was involved because it makes them radioactive politically because they lost everyone’s money by fricking up.
Hedge funds can zero out and the investors lose money, but most institutional investors don’t hold too heavily in any one fund.
But a hedge fund that zeros out is likely personally ruinous to anyone who was involved because it makes them radioactive politically because they lost everyone’s money by fricking up.
Posted on 1/28/21 at 8:58 am to teke184
GME just broke $400. I'm expecting trading on it to be halted sometime today. Wall Street isn't going to let themselves continue to be embarrassed.
Posted on 1/28/21 at 9:02 am to Bard
Want to make it stop? Call the shorts and eat the losses.
Posted on 1/28/21 at 9:03 am to Bard
quote:
GME just broke $400. I'm expecting trading on it to be halted sometime today. Wall Street isn't going to let themselves continue to be embarrassed.
That's a gamble. Wall Street is certainly talking about it, but not ALL of Wall St. was shorting GME. In fact, probably most of the funds weren't. At some point, the hedge funds shorting will accept their losses, buy the stock to fill their short positions, an the stock will fall back to Earth.
Posted on 1/28/21 at 9:07 am to BiteMe2020
Question - is it possible for one of the funds to buy stock now, locking in the loss, then sell it back to itself or to other funds to try and limit who profits off of this?
Should be irrelevant given how over-shorted this was but still worth asking.
Should be irrelevant given how over-shorted this was but still worth asking.
Posted on 1/28/21 at 9:09 am to Bard
Posted on 1/28/21 at 9:10 am to Bunk Moreland
Feels good man.
Posted on 1/28/21 at 9:10 am to BiteMe2020
quote:Timing is everything.
In the end, somebody shorting this will win, most likely, it seems.
That's my guess.
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