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Posted on 1/27/21 at 2:05 pm to Jjdoc
quote:
And what people don't understand is that these hedge funds can kill a stock and investors by short selling.
Yeah, it appears the gap is that these hedge funds are buying and selling stocks that don't exist and destroying businesses.
Posted on 1/27/21 at 2:07 pm to Jjdoc
Is this a joke for the reddit group or are they intentionally trying to throw the system off? I think it's a pretty clever move, but only if they hang on.
Posted on 1/27/21 at 2:08 pm to j1897
quote:
It should be a crime, this is not good what they are doing.
What the hell is wrong with you? Jesus Christ grow a pair.
Posted on 1/27/21 at 2:09 pm to oleusakid
They can’t hold on if other online retail brokers go the way of TDA.
Posted on 1/27/21 at 2:10 pm to oleusakid
I think it is a combination of smart investing to make money and fricking over a group that no one particularly likes.
Hedge funds tend to be the kinds of assholes who would be corporate raiders in the 1980s or robber barons in the 1860s. And this whole situation looks like a twist on a failed attempt by some robber barons to corner the gold market in 1869.
Hedge funds tend to be the kinds of assholes who would be corporate raiders in the 1980s or robber barons in the 1860s. And this whole situation looks like a twist on a failed attempt by some robber barons to corner the gold market in 1869.
Posted on 1/27/21 at 2:10 pm to Jjdoc
Remember when OMB warned that hedge funds are bad? I Do.
Posted on 1/27/21 at 2:11 pm to rb
quote:
They can’t hold on if other online retail brokers go the way of TDA.
TDA force them to sell?
Posted on 1/27/21 at 2:12 pm to Jjdoc
TDA won’t allow trades of the companies in question.Stopped around noon.
This post was edited on 1/27/21 at 2:14 pm
Posted on 1/27/21 at 2:13 pm to j1897
quote:
If anyone doesn't think a fricking reckoning is coming, look at the cavalier people are on these boards about losing money in the market.
We've been watching how cavalier the Washington establishment is with people's livelihoods for a long time. They are very cavalier when restaurants, bars and salons are permanently closed. Or when John Kerry and Pete Buttiegueig said pipeline workers can just get another job.
The shoe's on the other foot now.
Posted on 1/27/21 at 2:14 pm to IslandBuckeye
Hedge funds shorted game stop stock so much it was the highest shorted stock in history, COVID hits and a brick and mortar game store, when a majority of people already were buying digital, tanks. Then GameStop gets some positive press with Chewy founder buying 10% of stocks and getting three board seats as well as a new console generation launch. Instead of unloading their shorts then hedge funds shorted more. Reddit recognized this and together surged the price of GME stock before the hedge funds could offload their shorts because no more tangible stock existed.
Posted on 1/27/21 at 2:15 pm to teke184
quote:
Hedge funds tend to be the kinds of a-holes who would be corporate raiders in the 1980s or robber barons in the 1860s. And this whole situation looks like a twist on a failed attempt by some robber barons to corner the gold market in 1869.
Nice analogy. As for this being intentional, I doubt it. Seems like they identified an opportunity but weren't sure of the outcome. How could they have known? I'm not an expert trader, but I'd be pretty proud if this was my idea.
Posted on 1/27/21 at 2:18 pm to oleusakid
Where I am going with this is that the 1869 attempt saw Jay Gould and Jim Fisk, amongst other investors, try to corner the US gold market and drove prices through the roof before Grant released tons of gold and flooded the market.
The big parallel I see is that, in that particular case, some individuals had short-sold gold they didn’t have so they were on the hook for tremendous losses when people started figuring out there was more gold stock than there was actual gold.
The big parallel I see is that, in that particular case, some individuals had short-sold gold they didn’t have so they were on the hook for tremendous losses when people started figuring out there was more gold stock than there was actual gold.
Posted on 1/27/21 at 2:18 pm to rb
I thought they limited the amount you can trade.. not halted the trading all together
Posted on 1/27/21 at 2:20 pm to Jjdoc
If trades aren't being executed it's the latter.
Posted on 1/27/21 at 2:20 pm to td01241
Shorts tried to kill the stock
Posted on 1/27/21 at 2:21 pm to j1897
quote:
It should be a crime, this is not good what they are doing
Being a pussy should be a crime - with you having a lifetime sentence
Posted on 1/27/21 at 2:22 pm to Ailsa
Some people are mad because they are gambling and lost?
I have a 401k and understand that I'm at the mercy of other people's whim. Just happens to be a gamble I'm willing to take.
I have a 401k and understand that I'm at the mercy of other people's whim. Just happens to be a gamble I'm willing to take.
Posted on 1/27/21 at 2:22 pm to Jjdoc
I hate reddit but WSB is an insane group of people I can cheer for. Their weaponized autism is amazing, frick the hedge funds.
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