GME

[I Shrugged]

https://babylonbee.com/news/merriam-web ... upposed-to

Oh God that's too good!

[Maddy]

So is this supposed to represent an achievement in terms of "social justice?" Are we supposed to celebrate the fact that the downtrodden have managed to make the same corrupt (and illegal) financial machinations work for them, too?

Equally corrupt.
Equally unprincipled.
Equally despicable.

[I Shrugged]

So is this supposed to represent an achievement in terms of "social justice?" Are we supposed to celebrate the fact that the downtrodden have managed to make the same corrupt (and illegal) financial machinations work for them, too?

Equally corrupt.
Equally unprincipled.
Equally despicable.

Please expand on what "this" is. Thanks. I want to be sure you have a clear handle on it, and if you do, then maybe I don't.

[vnatale]

Capture.JPG (63.36 KiB) Viewed 4822 times

[Smith1776]

There's rumblings in the subreddit about potentially making SLV the next short squeeze target. A coordinated SLV effort could be truly disruptive as there simply isn't enough physical metal to cover all of the paper trades in the market.

It looks like the "System" is ready to start implementing guardrails to limit this type of behaviour though.

[Xan]

So is this supposed to represent an achievement in terms of "social justice?" Are we supposed to celebrate the fact that the downtrodden have managed to make the same corrupt (and illegal) financial machinations work for them, too?

Equally corrupt.
Equally unprincipled.
Equally despicable.

What is the corrupt or illegal thing that the redditors are doing? They're buying a stock they like and holding it. That's what you're supposed to do, isn't it?

The hedge funds were betting against the stock. This is borrowing GME shares with a promise to give them back later, immediately selling them, and planning to buy them back when needed at hopefully a lower price. This is much more of a "manipulation" than buy and hold.

These funds had gotten so greedy that they had gone SO short that it generated a strong buy case: all these funds have to buy the stock back in order to return what they had borrowed, so a lot of people going long on it forces them to buy back at high prices.

That's the game the funds chose to play. They played it very badly. If they had played it successfully and had driven Gamestop out of business, they'd pocket their money and nobody would think twice. Now they're crying foul. Sorry, they lost fair & square.

[I Shrugged]

There's rumblings in the subreddit about potentially making SLV the next short squeeze target. A coordinated SLV effort could be truly disruptive as there simply isn't enough physical metal to cover all of the paper trades in the market.

It looks like the "System" is ready to start implementing guardrails to limit this type of behaviour though.

Maybe they are in communication with the Hunt brothers.

[Smith1776]

Is anyone else seeing requests to the WSB subreddit start to timeout?

[Smith1776]

Nvm working for me again.

[doodle]

So is this supposed to represent an achievement in terms of "social justice?" Are we supposed to celebrate the fact that the downtrodden have managed to make the same corrupt (and illegal) financial machinations work for them, too?

Equally corrupt.
Equally unprincipled.
Equally despicable.

What is the corrupt or illegal thing that the redditors are doing? They're buying a stock they like and holding it. That's what you're supposed to do, isn't it?

The hedge funds were betting against the stock. This is borrowing GME shares with a promise to give them back later, immediately selling them, and planning to buy them back when needed at hopefully a lower price. This is much more of a "manipulation" than buy and hold.

These funds had gotten so greedy that they had gone SO short that it generated a strong buy case: all these funds have to buy the stock back in order to return what they had borrowed, so a lot of people going long on it forces them to buy back at high prices.

That's the game the funds chose to play. They played it very badly. If they had played it successfully and had driven Gamestop out of business, they'd pocket their money and nobody would think twice. Now they're crying foul. Sorry, they lost fair & square.

What would a principled stand against the financial "system" look like?

[vnatale]

Capture.JPG (35.17 KiB) Viewed 4999 times

[Smith1776]

My previous joking aside, I just want to mention the equanimity of the PP investor:

"GME stock has skyrocketed! Get onboard before it's too late!"

"Meh, I already own it in my index fund."

"GME stock has tanked!! Oh noes!!"

"Meh, it's such a small portion of my index fund it doesn't matter."

[Cortopassi]

There's rumblings in the subreddit about potentially making SLV the next short squeeze target. A coordinated SLV effort could be truly disruptive as there simply isn't enough physical metal to cover all of the paper trades in the market.

It looks like the "System" is ready to start implementing guardrails to limit this type of behaviour though.

Hope you are right, my PP has 5% silver!

[jalanlong]

If this exposes the entire system as somewhat rigged in favor of the wealthy or elite, why should I have confidence in markets, even as a PP investor? “This” meaning every broker shutting off access to purchase these stocks to limit the losses of the shorts.

[doodle]

There's rumblings in the subreddit about potentially making SLV the next short squeeze target. A coordinated SLV effort could be truly disruptive as there simply isn't enough physical metal to cover all of the paper trades in the market.

It looks like the "System" is ready to start implementing guardrails to limit this type of behaviour though.

Hope you are right, my PP has 5% silver!

The pop seems like shorts covering...cornering this internationally traded commodity going to be a lot bigger undertaking than a stock with 140% short interest. I think they pass for other targets....but who knows!

[Tortoise]

Politicians on the right and left (AOC, Ted Cruz, etc.) are agreeing and retweeting each other that Robinhood shutting down GME trading was wrong. At least one class-action suit has been filed already.

[I Shrugged]

When I heard that Robinhood has no cost trading, I figured they have to be skimming something off the spreads, somehow. It will be interesting to find out.

[Cortopassi]

If I were king, Robinhood is toast. Allowing to sell, but not buy, yet other platforms, like those available to hedge fund people and seasoned traders still allowing buying should be 100% illegal.

[Tyler]

Politicians on the right and left (AOC, Ted Cruz, etc.) are agreeing and retweeting each other that Robinhood shutting down GME trading was wrong. At least one class-action suit has been filed already.

We may have just lucked into the unifying rallying cry we all needed after the election.

[pp4me]

When I heard that Robinhood has no cost trading, I figured they have to be skimming something off the spreads, somehow. It will be interesting to find out.

https://robinhood.com/us/en/support/art ... kes-money/

Overview
Our mission is to democratize finance for all. Earning revenue allows us to offer you a range of financial products and services at low cost, including commission-free trading. Here’s how we generate the majority of our revenue:

Rebates from market makers and trading venues
Robinhood Gold
Stock loan
Income generated from cash
Cash Management
Read on for more detail on how we make money:

"Robinhood Gold" sounded interesting but it's not what I thought.

[doodle]

Cost of litigation probably a lot less than extracting oneself from a GME moon landing.

[I Shrugged]

When I heard that Robinhood has no cost trading, I figured they have to be skimming something off the spreads, somehow. It will be interesting to find out.

https://robinhood.com/us/en/support/art ... kes-money/

Overview
Our mission is to democratize finance for all. Earning revenue allows us to offer you a range of financial products and services at low cost, including commission-free trading. Here’s how we generate the majority of our revenue:

Rebates from market makers and trading venues
Robinhood Gold
Stock loan
Income generated from cash
Cash Management
Read on for more detail on how we make money:

The first item means they are paid for order flow. That's about what I thought, and I probably characterized it harshly as skimming. Or is that potayto, potahto?

[doodle]

When I heard that Robinhood has no cost trading, I figured they have to be skimming something off the spreads, somehow. It will be interesting to find out.

https://robinhood.com/us/en/support/art ... kes-money/

Overview
Our mission is to democratize finance for all. Earning revenue allows us to offer you a range of financial products and services at low cost, including commission-free trading. Here’s how we generate the majority of our revenue:

Rebates from market makers and trading venues
Robinhood Gold
Stock loan
Income generated from cash
Cash Management
Read on for more detail on how we make money:

The first item means they are paid for order flow. That's about what I thought, and I probably characterized it harshly as skimming. Or is that potayto, potahto?

I don't think robinhood does the skimming....they sell orders to citron like entities who do the skimming AFAIK

[Xan]

When I heard that Robinhood has no cost trading, I figured they have to be skimming something off the spreads, somehow. It will be interesting to find out.

https://robinhood.com/us/en/support/art ... kes-money/

Overview
Our mission is to democratize finance for all. Earning revenue allows us to offer you a range of financial products and services at low cost, including commission-free trading. Here’s how we generate the majority of our revenue:

Rebates from market makers and trading venues
Robinhood Gold
Stock loan
Income generated from cash
Cash Management
Read on for more detail on how we make money:

The first item means they are paid for order flow. That's about what I thought, and I probably characterized it harshly as skimming. Or is that potayto, potahto?

All brokers went to zero fees shortly after that. So this is how everyone makes money now.

[Smith1776]

For my fellow Canadians:

The WealthSimple Trade platform doesn't sell order flow or have any premium account types. They purely make money on currency conversion costs when buying assets on foreign exchanges. Or so they say.