GME, Hedge Funds, Citadel and Reddit

[GG1]

Just now, plenzmd1 said:

certainly the shorts took it hard yesterday, but i have a feeling the quants bought bots etc to keep pushing the narrative hard....and they taking advantage of now. 

 

Only if they were able to short the stock at $350, sell calls or buy puts, which I think were all restricted as of yesterday.

[NCBillsFan]

48 minutes ago, Meazza said:

 

No. Any major swing in a stock price above a certain threshold will trigger a halt and a press release by the company.  

 

 

 

Agreed, but I don't think the tweet is about market mechanics. Its about the uproar over the wrong people influencing those mechanics.

[Nouseforaname]

53 minutes ago, NCBillsFan said:

 

Agreed, but I don't think the tweet is about market mechanics. Its about the uproar over the wrong people influencing those mechanics.

 

I agree but let's also agree that a bunch of people are going to get hurt by this and it won't just be hedge funds. 

 

[The Guy In Pants]

Robin Hood restricting, having glitches

 

Ameritrade app crashed.

 

WeBull site just crashed from signups because they are still allowing people to trade these stocks.

 

Barstool suggests tradezero

Edited January 28, 2021 by The Guy In Pants

[Nouseforaname]

Just now, DC Tom said:

 

It'll be stupid people.  

 

And to quote one of the board's great Alaskan philosophers: "Stupid should hurt."

 

Given how much volume, we're talking about a shit load of stupid people.

 

... but we already knew that.

 

 

[The Guy In Pants]

https://twitter.com/stoolpresidente/status/1354802879479992321

[GG1]

1 minute ago, The Guy In Pants said:

https://twitter.com/stoolpresidente/status/1354802879479992321

 

That's plausible since Robinhood needs a market maker.  Again, now that the shorts have been burned, anybody buying GME is an idiot.

[The Guy In Pants]

Just now, GG1 said:

 

That's plausible since Robinhood needs a market maker.  Again, now that the shorts have been burned, anybody buying GME is an idiot.

 

I never bought into Gamestop but I know plenty who did. 

[GG1]

2 minutes ago, The Guy In Pants said:

 

I never bought into Gamestop but I know plenty who did. 

 

They should be getting out ASAP

[The Guy In Pants]

1 minute ago, GG1 said:

 

They should be getting out ASAP

 

 

I haven't heard what they are planning to do yet today

[NCBillsFan]

 

[B-Man]

 Robinhood blocks purchase of GameStop, AMC, and BlackBerry stock. 

“The company is citing ‘recent volatility’ in the market as the reasoning behind the change.”

 

 

In the words of George Carlin, it’s a big club and you ain’t in it.

 

But this is especially awkward for Robinhood, which is acting like a Deputy Sheriff of Nottingham. I assume its status as a cool brand for millennials and Gen Z will take a major hit.

 

UPDATE: I’m seeing a lot of FB friends who I’m sure voted for Biden talking about how rigged and corrupt the system is as their trades on Robinhood and similar platforms are blocked. This is likely to make the “great reset” a lot more difficult. Also, if a lot of retail investors get the idea that the market is rigged against them — because, you know, they see it happening — that’s going to be a long-term drag on the markets, and on the many people who make their money, one way or another, off of retail investors. As always, of course, the people running the institutions put short-term selfishness ahead of long-term institutional health.

by Glenn Reynolds

[Nouseforaname]

7 minutes ago, B-Man said:

 Robinhood blocks purchase of GameStop, AMC, and BlackBerry stock. 

“The company is citing ‘recent volatility’ in the market as the reasoning behind the change.”

 

 

In the words of George Carlin, it’s a big club and you ain’t in it.

 

But this is especially awkward for Robinhood, which is acting like a Deputy Sheriff of Nottingham. I assume its status as a cool brand for millennials and Gen Z will take a major hit.

 

UPDATE: I’m seeing a lot of FB friends who I’m sure voted for Biden talking about how rigged and corrupt the system is as their trades on Robinhood and similar platforms are blocked. This is likely to make the “great reset” a lot more difficult. Also, if a lot of retail investors get the idea that the market is rigged against them — because, you know, they see it happening — that’s going to be a long-term drag on the markets, and on the many people who make their money, one way or another, off of retail investors. As always, of course, the people running the institutions put short-term selfishness ahead of long-term institutional health.

by Glenn Reynolds

 

Or as @GG1 put it, the broker needs to find a market maker.

[GG1]

19 minutes ago, DC Tom said:

 

At any price.  People are going to be shocked when their orders are filled nowhere near the quote they see.  Just saw it swing 25 points in a matter of seconds.  

 

Market gravity is a hell of a force.  Down 100 already

[NCBillsFan]

 

[B-Man]

2 minutes ago, NCBillsFan said:

 

 

 

 “Can we call the GameStop thing what it actually is?

 

A Capital Insurrection.”

 

Heh.

 

 

 

 

[Nouseforaname]

Just now, B-Man said:

 

 

 “Can we call the GameStop thing what it actually is?

 

A Capital Insurrection.”

 

Heh.

 

 

 

 

 

Or we can call it what it really is, stupid people with way too much time on their hands and some extra cash.

[Gary M]

48 minutes ago, DC Tom said:

 

It'll be stupid people.  

 

And to quote one of the board's great Alaskan philosophers: "Stupid should hurt."

 

I don't know, maybe losing their wuhan flu stimulus money was worth it to teach the big boys a lesson?

[Ann]

https://twitter.com/Zakariyasl/status/1354805729509613569
 

 

 

 

[GG1]

3 minutes ago, Meazza said:

 

Or we can call it what it really is, stupid people with way too much time on their hands and some extra cash.

 

Methinks someone missed the pun