Gamestop and The Stock Market

[Handlogten's Heros]

I had them at like $17 this AM with an order and etrade wouldn't process it... 400% today. It's 1998 again... Koss, Gamestop, Nokia, Bed Bath and Beyond!

Oh ****... I blinked and it went to 560%

 

[Handlogten's Heros]

Blockbuster has risen 200% as well. It's only like 13 cents a stock right now but for w/e reason it's not letting me buy any.

The trading platforms have been selectively buggy today... so weird that these funds are bleeding out at the same time... can't be coincidence... right?

 

[fishonjazz]

Yes, but only because I opened up a free Robinhood account a couple years back, totally forgot about it, but just checked it this morning after catching wind of the Reddit stuff and guess what one of my free stocks was in? Gamestop.

I sold at $360 this morning - going to buy a Nintendo Switch for the kids and maybe Animal Crossing.

Animal crossing sucks.
Get super mario odyssey. You can thank me later

Sent from my ONEPLUS A6013 using JazzFanz mobile app

 

[Miggs]

This is all nonsense and I hope all these 20 year old tools go to prison. One, it’s illegal. Stock market manipulation is illegal. It’s always tough to prove but don’t kid yourself, it’s illegal. Now, I no one feels sorry for a rich person. I surely don’t. And I know they manipulate the market all the time but they do it in much more subtle ways that for the most part doesn’t affect you or I. They also aren’t shorting great companies. The stocks are shorted for a reason. They’re not particularly strong.

These kids on the other hand are doing it to make money sure, but are doing it moreso to shove it to the “boomers.” Their words, not mine. Go on Reddit or TikTok or any of these sites and their rhetoric and purposes are quite obvious. These (hedge) funds collapse, it’s not only the Steve Cohen’s (really his protegé) of the worlds who suffer. It’s everyone else whose money and life savings are tied up in that company’s investments. Knowing that, I’d actually think a great lawyer could argue it’s a form of domestic terrorism. It is quite literally an attack on people.

 

[Handlogten's Heros]

This is all nonsense and I hope all these 20 year old tools go to prison. One, it’s illegal. Stock market manipulation is illegal. It’s always tough to prove but don’t kid yourself, it’s illegal. Now, I no one feels sorry for a rich person. I surely don’t. And I know they manipulate the market all the time but they do it in much more subtle ways that for the most part doesn’t affect you or I. They also aren’t shorting great companies. The stocks are shorted for a reason. They’re not particularly strong.

These kids on the other hand are doing it to make money sure, but are doing it moreso to shove it to the “boomers.” Their words, not mine. Go on Reddit or TikTok or any of these sites and their rhetoric and purposes are quite obvious. These (hedge) funds collapse, it’s not only the Steve Cohen’s (really his protegé) of the worlds who suffer. It’s everyone else whose money and life savings are tied up in that company’s investments. Knowing that, I’d actually think a great lawyer could argue it’s a form of domestic terrorism. It is quite literally an attack on people.

Wait so a hedge fund shorting the living **** out of a company that already had too much short interest then went online and said they are shorting it and that its a ****** company is totally responsible and subtle. Even though it contributes to the company dying (they could pivot and rebound) and would cost a ton of people their jobs?

But a few nerds on reddit get pissed and buy some stock because they see that the short interest is 140% and realize there is an opportunity to stick it to the man... that's the crime? Market manipulation is only okay in a free market when it does it the way you want it. These guys basically just said "hey this stock has a **** ton of options against it... lets all go buy it" and then they got momentum. Meanwhile CNBC and Jim Cramer and others can go on TV and talk about stocks they would buy and that's cool. GTFO

 

[candrew]

This is all nonsense and I hope all these 20 year old tools go to prison. One, it’s illegal. Stock market manipulation is illegal. It’s always tough to prove but don’t kid yourself, it’s illegal. Now, I no one feels sorry for a rich person. I surely don’t. And I know they manipulate the market all the time but they do it in much more subtle ways that for the most part doesn’t affect you or I. They also aren’t shorting great companies. The stocks are shorted for a reason. They’re not particularly strong.

Wes, I've been in financial services for over 20 years. Billionaire hedge funds get together all the time and collude to short sell companies out of existence. In the battle of lesser evils it's not even close.

Yeah, they are mostly struggling companies; but they're often companies with thousands of working class to middle class jobs behind them and Wall Street gets rich by accelerating their entry into the poor house.

 

[Handlogten's Heros]

The hedge fund got greedy and had too many short positions on a stock that already had too many short positions... these guys have all the data and then some... but the internet basement nerds banded together and smacked them.

 

[Handlogten's Heros]

Wes, I've been in financial services for over 20 years. Billionaire hedge funds get together all the time and collude to short sell companies out of existence. In the battle of lesser evils it's not even close.

Yeah, they are mostly struggling companies; but they're often companies with thousands of working class to middle class jobs behind them and Wall Street gets rich by accelerating their entry into the poor house.

And it isn't to feed they families... its to buy their 4th vacation home and buy that super yacht they have had their eye on.

If they want to stop this then make it illegal to short the market.

 

[candrew]

And it isn't to feed they families... its to buy their 4th vacation home and buy that super yacht they have had their eye on.

If they want to stop this then make it illegal to short the market.

Oh don't worry they're going to shut this down quick. The SEC is already in panic mode.

If for no other reason that it illustrates to the rest of the public what a sham the markets have become.

 

[Handlogten's Heros]

Oh don't worry they're going to shut this down quick. The SEC is already in panic mode.

If for no other reason that it illustrates to the rest of the public what a sham the markets have become.

Agree... they will figure out some bull **** bail out for these assholes too.

 

[Handlogten's Heros]

 

[Handlogten's Heros]

It likely all loses steam real quick but it’s funny for now.