Screw the Stock Market...

[Moliere]

WaPo says the heroes in all of this are the hedge funds and short sellers...


https://www.washingtonpost.com/opini...short-sellers/

These good guys have lost a lot of money... The Harris Administration needs pony up some big money and bail them out.

At the end of that quip I believe they are referring to movie The Big Short. There are some very fundamental differences between what was done by those short sellers and the short sellers of GME. However, both took a naked position and it worked out for one and not the other. Naked short selling is fraught with risk (especially if done literally naked!) and everyone knows that. I bet the hedge funds would have done the same thing if they had seen someone with 140% of shares shorted. They'd be patting each other on the back and holding parties in their second or third houses.

[Uncle Ted]

WaPo says the heroes in all of this are the hedge funds and short sellers...

The good guys in the GameStop story? It’s the hedge funds and short sellers.

Last week, an analogous fantasy reared its head: the concept that GameStop, an ailing retailer whose shares had slumped from $57 to $4 since 2013, ought to all of a sudden commerce at $350. The speculators driving this 8,750 p.c revaluation don’t have any proof that this is sensible: Indeed, they disdain proof. GameStop’s price-to-earnings ratio is infinite, as a result of the firm earns nothing. Its prospects are grim, as a result of it’s primarily a brick-and-mortar vendor of video video games, a product greatest bought digitally. But the speculators don’t care. They imagine. And the power of their perception has been contagious and self-fulfilling.

This isn’t the worst of it, nonetheless. Financial markets are normally stabilized by rational buyers: If the crazies drive shares to an absurd top, considerate folks take the different aspect of the commerce till costs reconnect with actuality. The correction will be late and messy — it’s laborious to be considerate when markets are wild — however a minimum of our tradition usually applauds the partisans of rationality. After the subprime bubble popped, the plucky minority that referred to as out the extra turned minor folks heroes. There was even a movie about them.
[...]

https://www.washingtonpost.com/opini...short-sellers/

These good guys have lost a lot of money... The Harris Administration needs pony up some big money and bail them out.

[Uncle Ted]

God bless those millennials and genz'ers using their stimulus checks to benefit others...

North Texas Investor Uses GameStop Gains to Help Sick Children
One investor told NBC 5 about his efforts to turn the GameStop short sale into a force for good

Amid the Wall Street drama surrounding GameStop and Robinhood, some investors taking part in the GameStop short sale are using their proceeds to do good deeds for others.

One investor, who wished to remain anonymous, delivered 10 Nintendo switches purchased from GameStop locations around the Dallas-Fort Worth area to Medical City Children's Hospital Thursday.

The investor said his efforts were made possible by GME gains.
[...]

https://www.nbcdfw.com/news/national...ldren/2537134/

And it looks like he got a Tesla for himself... saving the environment as well.

[Uncle Ted]

Robin Hood and other retail investor apps are scorching credibility today. Pretty insane when both Ted Cruz and AOC are on the same page.

I wonder if they will be OK losing 89% of their customer base...

“After this whole thing is over, do you plan on leaving Robinhood.” 76% said they plan to leave Robinhood, while 13% said they already moved to other platforms and only 11% said they won’t be leaving the Robinhood platform.

https://seekingalpha.com/news/365598...1xrYxWT6Ycg34A

I don't know why their CEO just didn't admit they have a liquidity issue.

[Commando]

lol Robinhood. Any exchange that does anything even remotely similar to this-- you gotta pull all your assets off and delete the app off your phone.

[Color Me Badd Fan]

I'm not entirely sure Robinhood limited the sale of these shares merely to benefit Citadel, they could be having a liquidity problem.

Of course, that means you have even more reason to remove any holdings with them.

[Color Me Badd Fan]

I hope someone does go to jail. I have no sympathy for the hedge funds that are getting killed. They took a gigantic speculative position and deserve what they are getting. There was some I stituitonal investor in CNBC today claiming the teachers and union workers are going to get hurt in this because the hedge funds are managing their retirement pension funds. Pretty funny how he tried to create sympathy for the funds. If they truly are doing huge speculative positions with clients money no one should ever use them again.


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These assholes are really adept at privatizing gain and making their losses a public concern.

GameStop probably had a market cap of $500 million or something when these guys shorted it. Does anyone really believe that a single hedge fund just one day decided to venture out on their own and short this company? Or did they have discussions with other hedge funds and they all agreed it was a really neat idea?

Guess what happens if you all of a sudden sell around $100 million worth of shares in a $500 million company all at once? The decline is already baked into the cake.

[wapiti]

I hope someone does go to jail. I have no sympathy for the hedge funds that are getting killed. They took a gigantic speculative position and deserve what they are getting. There was some I stituitonal investor in CNBC today claiming the teachers and union workers are going to get hurt in this because the hedge funds are managing their retirement pension funds. Pretty funny how he tried to create sympathy for the funds. If they truly are doing huge speculative positions with clients money no one should ever use them again.


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GME had 140% short interest. It was only a matter of time before someone figured out this was possible. These hedge funds were artificially driving down the stockthat they hoped would put GME into bankruptcy so they would never have to cover their shares.

[Moliere]

Class actions with some real teeth are being filed. Robinhood just blew up their business to protect their hedge fund data clients. Without the trading data they will lose that business as well. It’s crazy. Only allowing sell orders and no buy orders manipulating the short returns for their hedge fund data clients. The decision maker on this might go to jail.


Sent from my iPhone using Tapatalk

I hope someone does go to jail. I have no sympathy for the hedge funds that are getting killed. They took a gigantic speculative position and deserve what they are getting. There was some I stituitonal investor in CNBC today claiming the teachers and union workers are going to get hurt in this because the hedge funds are managing their retirement pension funds. Pretty funny how he tried to create sympathy for the funds. If they truly are doing huge speculative positions with clients money no one should ever use them again.


Sent from my iPhone using Tapatalk

[Pelado]

Robin Hood and other retail investor apps are scorching credibility today. Pretty insane when both Ted Cruz and AOC are on the same page.

Class actions with some real teeth are being filed. Robinhood just blew up their business to protect their hedge fund data clients. Without the trading data they will lose that business as well. It’s crazy. Only allowing sell orders and no buy orders manipulating the short returns for their hedge fund data clients. The decision maker on this might go to jail.


Sent from my iPhone using Tapatalk

Seems like a pretty short-sighted decision.

[Flystripper]

Robin Hood and other retail investor apps are scorching credibility today. Pretty insane when both Ted Cruz and AOC are on the same page.

Class actions with some real teeth are being filed. Robinhood just blew up their business to protect their hedge fund data clients. Without the trading data they will lose that business as well. It’s crazy. Only allowing sell orders and no buy orders manipulating the short returns for their hedge fund data clients. The decision maker on this might go to jail.


Sent from my iPhone using Tapatalk

[YOhio]

Robin Hood and other retail investor apps are scorching credibility today. Pretty insane when both Ted Cruz and AOC are on the same page.

[Copelius]

Finally, something I can agree with her on.

[wapiti]

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[Clark Addison]

I bought around 625 shares of AMC at around $4.30 on Monday and Tuesday. I think I'll be sent to jail for what's happening right now.

I have a friend who bought 20K shares and sold 15K of them with a $150K gain. Not a bad day.