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Robin Hood and other retail investor apps are scorching credibility today. Pretty insane when both Ted Cruz and AOC are on the same page.
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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.Originally posted by YOhio View Post
Sent from my iPhone using TapatalkDyslexics are teople poo...Comment
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"I think it was King Benjamin who said 'you sorry ass shitbags who have no skills that the market values also have an obligation to have the attitude that if one day you do in fact win the PowerBall Lottery that you will then impart of your substance to those without.'"
- Goatnapper'96Comment
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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.Originally posted by Flystripper View Post
Sent from my iPhone using Tapatalk"Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. UchtdorfComment
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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.Originally posted by Moliere View PostComment
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These assholes are really adept at privatizing gain and making their losses a public concern.Originally posted by Moliere View Post
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.Part of it is based on academic grounds. Among major conferences, the Pac-10 is the best academically, largely because of Stanford, Cal and UCLA. “Colorado is on a par with Oregon,” he said. “Utah isn’t even in the picture.”Comment
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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.Part of it is based on academic grounds. Among major conferences, the Pac-10 is the best academically, largely because of Stanford, Cal and UCLA. “Colorado is on a par with Oregon,” he said. “Utah isn’t even in the picture.”Comment
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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."I'm anti, can't no government handle a commando / Your man don't want it, Trump's a bitch! I'll make his whole brand go under,"Comment
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I wonder if they will be OK losing 89% of their customer base...Originally posted by YOhio View Post
https://seekingalpha.com/news/365598...1xrYxWT6Ycg34A“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.
I don't know why their CEO just didn't admit they have a liquidity issue."If there is one thing I am, it's always right." -Ted Nugent.
"I honestly believe saying someone is a smart lawyer is damning with faint praise. The smartest people become engineers and scientists." -SU.
"Yet I still see wisdom in that which Uncle Ted posts." -creek.
GIVE 'EM HELL, BRIGHAM!Comment
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God bless those millennials and genz'ers using their stimulus checks to benefit others...
https://www.nbcdfw.com/news/national...ldren/2537134/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.
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And it looks like he got a Tesla for himself... saving the environment as well."If there is one thing I am, it's always right." -Ted Nugent.
"I honestly believe saying someone is a smart lawyer is damning with faint praise. The smartest people become engineers and scientists." -SU.
"Yet I still see wisdom in that which Uncle Ted posts." -creek.
GIVE 'EM HELL, BRIGHAM!Comment
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WaPo says the heroes in all of this are the hedge funds and short sellers...
https://www.washingtonpost.com/opini...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.
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These good guys have lost a lot of money... The Harris Administration needs pony up some big money and bail them out."If there is one thing I am, it's always right." -Ted Nugent.
"I honestly believe saying someone is a smart lawyer is damning with faint praise. The smartest people become engineers and scientists." -SU.
"Yet I still see wisdom in that which Uncle Ted posts." -creek.
GIVE 'EM HELL, BRIGHAM!Comment
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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.Originally posted by Uncle Ted View Post"Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. UchtdorfComment
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Teddy!
The good news is that Millennials have grown up and tasted the fruit of capitalism. Their innocence is forever lost. It always happens, as with the boomers, who actually were much more subversive and became the world's greatest capitalists ever.When a true genius appears, you can know him by this sign: that all the dunces are in a confederacy against him.
--Jonathan SwiftComment
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Yes, they are all grown up now... I am so proud of them!Originally posted by SeattleUte View Post
i1wm0a3wyve61.jpg"If there is one thing I am, it's always right." -Ted Nugent.
"I honestly believe saying someone is a smart lawyer is damning with faint praise. The smartest people become engineers and scientists." -SU.
"Yet I still see wisdom in that which Uncle Ted posts." -creek.
GIVE 'EM HELL, BRIGHAM!Comment
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Oldest daughter bought 9 shares in AMC, which according to the redditors in the know will be the next one to go up. I told her that doesn't sound very socialist of her. But she's not in it for the money she assures me. She wants to bleed Wall Street. According to her 'you can't fight the system without participating in the system'."...you pointy-headed autopsy nerd. Do you think it's possible for you to post without using words like "hilarious," "absurd," "canard," and "truther"? Your bare assertions do not make it so. Maybe your reasoning is too stunted and your vocabulary is too limited to go without these epithets."
"You are an intemperate, unscientific poster who makes light of very serious matters.”
- SeattleUteComment
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