Every single person needs to be paying attention to what's going on right now. This is some 3rd world country shit right here. Retail investors are straight up being robbed.
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GameStop Stock keeps going up no end in sight
- Thread starter Comixbooks
- Start date
And for those who dislike BitCoin - Pay Attention! This is 1st World Big Money Manipulation from the TOP.
"Democratic Senator Elizabeth Warren to demand action from regulators."
SEC ‘Monitoring’ GameStop Frenzy as Warren Pressures Regulators
Which investors does she and Washington want to protect? Deep Pocket ones apparently,DukenukemX
[H]F Junkie
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Robinhood is blocking NOK, GME, AMC and BB. I tried to buy some AMC over night and was denied. I need an alternative that isn't blocked.
Try Fidelity
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A large percentage of Washington DC may be set out to protect exploitative (ie business as usual big money) Wall Street investors, but in the article you link Warren is standing against them.
"“For years, the same hedge funds, private equity firms, and wealthy investors dismayed by the GameStop trades have treated the stock market like their own personal casino while everyone else pays the price,” Warren said. “It’s long past time for the SEC and other financial regulators to wake up and do their jobs -- and with a new administration and Democrats running Congress, I intend to make sure they do.”"
Personally I am not a huge fan of Warren but she's better than the vast majority especially on this sort of thing. Its worth noting that others from Sanders to AOC have called for similar (or even more vehement) reproach of big money having a temper tantrum and they're right to do so, so there are at least some voices against this nonsense; the best of them showcase the hypocrisy and that this illustrates that business-as-usual on Wall Street is unacceptable and needs to be reined in vehemently.
Opposite actually; read her statement, she's calling out the hedge funds for being pissed about getting beaten at their own game.
Yes, she believes in regulation - and banning a lot of the BS that the PE firms especially do (because their only goal is to extract the value from a company by effectively closing it down - putting thousands out of work, see ToysRUs and other retail lines as examples), but in this case, she's laughing at the street getting beaten by its own rules.
I see what you mean, but I believe she is double talking and playing both sides of the fence. Why call for regulation when it's the little guy winning for once? Wether you're organized under Reddit or organized under a Hedge Fund - go ahead and short or buy. At least that's my theory.
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Looks like the wallstreet stepped in and pretty much forced everyone to stop buying. It's plummeting now.
$469 to $132 in a few hours.
$469 to $132 in a few hours.
Don’t disagree - but the rules have to apply the same to either. Right now, the hedge funds (PE is a different world) play by different rules than the rest of us. As seen by what just happened to the stock and the brokerages. That’s her argument, plus there need to be stricter rules for all - which for many of her points I happen to agree (she’s very anti private equity, which is a leach on society). Not all, mind you, but many. Mostly because it’s not a free market anymore- the big houses get different access and different rules.
atarumoroboshi18
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zamardii12
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So can we short it now?
Susquehannock
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I was mostly just curious to see if it will even go through. If it burns, it burns.
harmattan
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Dem some crazy-big candlesticks.
It still goes to free markets, as far as rules - Hedge Funds are exempt from registering with the SEC, make periodic reports. Regulating Hedge Funds like Mutual Funds would just protect Hedge Fund Investors. Not prevent shorting - which is really a ridiculous idea. They stopped trading on GME et la several times already yesterday. What Warren or anyone means by "regulation" really has to be put forth and examined closely.
Don't you know you have to pass bills to see what's in them these days?
I do know that whatever Warren is up to is going to be bad for Wall Street big and small. That I can assure you.
Susquehannock
Supreme [H]ardness
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Options are my thing. The put contract action right at today's low is very interesting.
DukenukemX
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What people don't get is that tomorrow the short sellers have to pay up. You sell now then you lose all that potential. The potential is 
.
. zamardii12
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What people don't get is that tomorrow the short sellers have to pay up. You sell now then you lose all that potential. The potential is
zamardii12
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I invested all my money in lead last year, lol. Crazy times.
GoodBoy
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The shorties are the balance for the bulls. If they got rid of shorties, trading altogether would either be even higher risk (letting bulls run unchecked), or almost no risk but also little reward (a stocks only value would be the dividend return, and shift completely away from the value increasing over time. This isn't really possible if the market is open and shares can be traded between investors).
Watch the whole thing:
Comixbooks
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You can't even buy a PS5 several months later at Gamestop to help save them.
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That's not really Gamestop's fault, though.
It's finance. You can borrow stuff, you can lend stuff, you can write a contract to buy something at a specific price in 6 months, you can buy a contract to be able to sell something for a specific price in 6 months. Etc. If I'm a long term investor, and you'll pay me $ to borrow my stock, and you have collateral to prove you'll pay me back, and you'll cover any dividends (including a premium for difference in tax treatment), why wouldn't I let you borrow it and take the money? Yes, maybe you'll distort the price in the short term, but whatevs, I'm a long term investor.
Lots of index funds have a stock lending program and use the proceeds to cover the costs of managing the fund, reducing the fees charged to the holders.
Big money protecting themselves or trading platform with a near 0 when not 0 transaction fee protecting themselves from unexpected volume/usage ? A bit like moviepass that stopped working just before an avenger movie release.
It look like all the restricting platform where $0 online commision one.
I dont know what this means but I can say by stopping trades helps the hedge funds by not allowing buys on the stock and effectively putting a stop to the short squeeze.
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I think one point you're forgetting is you shouldn't be able lend more than you have, which is the case here with 120% of the available stock being "borrowed" which doesn't make it a borrowed thing, it makes it selling something you do not have, which it boggles my mind why this is even allowed.
You can't just eliminate buying stock on margin just because you don't like it. Credit is at the heart of this nation's (and almost all other) financial market and everything would cease to function without it. Don't make an example of stocks because it's everywhere from you wallet to the federal deficit.
Buying what you don't have is practically the definition of what margin is.
Wall Street has become a convoluted mess, that even the smartest people in the world only have a brief idea of what's going on. And it's purposely designed that way.
Just because you don't understand everything about wall st doesn't mean it's all bad. It just means you are not smart enough to take advantage of all the ins and outs. Not necessarily required to make money, but it helps. Buy low and Sell high STILL WORKS if you have vision. It's only as complicated as you make it.
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Yes, but it feel like it would help a company that offer free transaction to their customer but have to pay for them, to block them, it does not require any other motivation for them to do this than to want to stop to bleed of their own money.
If normal fee transaction platform do not block them, we will have our answer I think.
"free transactions" are not really free. Just because the customer is not charged for it doesn't mean that the brokerage company made nothing. Robinhood has made a fortune off of this fact. Getting down to it - most all major brokerages do not charge fees. To do so puts you out of competition with everyone else.
Robinhood make money on their customer sleeping cash balance, selling customer information, interest on margin lending or this strange thing that sound like should be illegal:
https://en.wikipedia.org/wiki/Payment_for_order_flow
All of this would not apply here on millions of people buying small amount of stock on new account with a 0 commissions.
"sound like" LoL. The fact of the matter is all corps make a ton of money off of profiling their customers. It's NOT illegal. ie see Fakebook, Apple, Google, even MS nowadays. You ought to know by now opening an account with anything means you are profiled. If you don't like it - don't register.
That not profiling that routing order over a third party paying the broker for doing it.
Regardless, that was not the point, I doubt any of those revenues that make free transaction model work, would apply to the current craze they put breaks on.
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Class action lawsuit against Robinhood has been filed.
https://twitter.com/LJMoynihan/status/1354836830169006081
https://twitter.com/LJMoynihan/status/1354836830169006081