r/WallStreetBets and $GME

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Indy
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r/WallStreetBets and $GME

Post by Indy »

Holy shit this is a pretty amazing story. I need to read more on it, before I post more, but I wanted to get a place holder here so we can talk about it.

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ShelC
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Re: r/WallStreetBets and $GME

Post by ShelC »

Big boys don't like getting their nuts squeezed so they took their ball and went home. Total bullshit. Wall St billionaires can manipulate the entire market, cause the mortgage bubble, credit card and student loan debt but some daytraders make a few bucks and they can't handle it.

I'm a trader/investor so I love seeing it but also don't want them changing the rules to crush the little guy. WSB and retail traders need to be smarter to stay under the radar.

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Indy
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Re: r/WallStreetBets and $GME

Post by Indy »

I am wondering who got to Robinhood to get them to shut off trading of those stocks. I should know already, but who owns them?

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Indy
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Re: r/WallStreetBets and $GME

Post by Indy »


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ShelC
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Re: r/WallStreetBets and $GME

Post by ShelC »

Good thread here


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Indy
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Re: r/WallStreetBets and $GME

Post by Indy »

Thanks. I went through the company and didn't find that they were owned by anyone else. But I didn't get to check their big customers. I have never used them before. I don't trade often, and use my bank to do it when I trade. I don't think I have ever held a stock for less than a year so far. But I only have purchased maybe 10-15 stocks in my life.

And unfortunately my company 401k doesn't let me trade in anything but shitty vanguard funds.

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ShelC
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Re: r/WallStreetBets and $GME

Post by ShelC »

Robinhood is seen as the platform for the casual trader, think it's only a mobile platform for people just starting out or looking to play around and trade some stock. They've had some issues before with pumps or restricting trades. I don't think serious traders or investors really use it. I use ThinkorSwim from TD to trade and ETrade for longer term trades/investments. Daytrading became very popular over the last year with more people home from the shutdown and no sports to gamble on. A ton of new traders and capital entered the market which caused a bit more volatility than normal. Problem is sports gamblers and daily fantasy players treated the market as such, which essentially turns it into gambling.

https://www.wsj.com/articles/everyones- ... 1595649609

https://www.cnbc.com/2020/10/07/how-rob ... arket.html

https://www.bloomberg.com/news/articles ... ver-before

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Superbone
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Re: r/WallStreetBets and $GME

Post by Superbone »

Got this email from Robinhood today:



Robinhood <noreply@robinhood.com>
To:
xxx

Thu, Jan 28 at 2:08 PM

Robinhood logo
An update on market conditions
Hi Superbone,
It’s been a tough day, and we’re grateful to you for being a Robinhood customer. In light of the extraordinary market conditions this week, we temporarily limited buying for certain securities this morning. Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and may make adjustments as needed.
This was a temporary decision made to best continue serving you, and was not an easy one to make. We know it’s led to frustration and confusion, and wanted to provide some clarity.
As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today.
To be clear, this decision was not made on the direction of any market maker we route to or other market participants.
The past year in particular has shown us that the financial markets are for everyone—not just institutional investors and hedge funds. We’ve seen a new generation enter the market, and they’re sparking conversations about what it means to be an investor. We stand in support of you, our customers. Democratizing finance for all means giving more people access, not less.
We’ll keep monitoring market conditions and will update this Help Center article with the latest changes. We also published a blog post regarding today’s events.
Thank you again for being a Robinhood customer. We’re so grateful for your support.
Sincerely,
The Robinhood Team

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Here are the certain securities:
https://robinhood.com/us/en/support/art ... olatility/
Wormwood/Superbone 2019/2020 season bet: Suns win < 30 games, Wormwood wins, else 'Bone wins. 1 month avatar shame starting July 1st of winner's choosing. ACCOMPLISHED! 34 wins in a shortened season! Like it mattered. We rarely see Wormwood anyway!

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In2ition
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Re: r/WallStreetBets and $GME

Post by In2ition »

I thought this was an interesting take on this story and how it could be catastrophic. How many of you have actual assets, like farm land and actual gold or silver?
"30 wins would be an extremely disappointing season" yeah, I said it and I mean it.
"When we all think alike, nobody is thinking" - Walter Lippmann

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Indy
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Re: r/WallStreetBets and $GME

Post by Indy »

He lost me a "so-called pandemic" in his intro. :roll:

The inflation of assets has always been disconnected from tangible assets. For over a hundred years.

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Indy
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Re: r/WallStreetBets and $GME

Post by Indy »

Superbone wrote:
Thu Jan 28, 2021 3:31 pm
Got this email from Robinhood today:
What bullshit.

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Superbone
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Re: r/WallStreetBets and $GME

Post by Superbone »

Indy wrote:
Thu Jan 28, 2021 3:38 pm
Superbone wrote:
Thu Jan 28, 2021 3:31 pm
Got this email from Robinhood today:
What bullshit.
Right? I've never heard of a brokerage protecting their customers from themselves before.
Wormwood/Superbone 2019/2020 season bet: Suns win < 30 games, Wormwood wins, else 'Bone wins. 1 month avatar shame starting July 1st of winner's choosing. ACCOMPLISHED! 34 wins in a shortened season! Like it mattered. We rarely see Wormwood anyway!

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In2ition
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Re: r/WallStreetBets and $GME

Post by In2ition »

Indy wrote:
Thu Jan 28, 2021 3:37 pm
He lost me a "so-called pandemic" in his intro. :roll:

The inflation of assets has always been disconnected from tangible assets. For over a hundred years.
Interesting. Honestly, I didn't even notice that. I was working while listening to it, so it probably went right past me.
"30 wins would be an extremely disappointing season" yeah, I said it and I mean it.
"When we all think alike, nobody is thinking" - Walter Lippmann

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Nodack
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Re: r/WallStreetBets and $GME

Post by Nodack »

I have been hearing the word Robin hood lately and had no idea what they were talking about. I will have to do some more research.

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Superbone
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Re: r/WallStreetBets and $GME

Post by Superbone »

Nodack wrote:
Thu Jan 28, 2021 7:10 pm
I have been hearing the word Robin hood lately and had no idea what they were talking about. I will have to do some more research.
It's a free trading platform that makes it dead simple to buy and sell stocks on your phone. People that didn't know what they are doing have ruined their lives with it and commited suicide. You may have heard about that in the news. I have used it in the past but now Vanguard has free trades.
Wormwood/Superbone 2019/2020 season bet: Suns win < 30 games, Wormwood wins, else 'Bone wins. 1 month avatar shame starting July 1st of winner's choosing. ACCOMPLISHED! 34 wins in a shortened season! Like it mattered. We rarely see Wormwood anyway!

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In2ition
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Re: r/WallStreetBets and $GME

Post by In2ition »


Didn't Yellen get a $801K speaking fee from Citadel(Hedge Fund)?





Not that I'm naïve enough to think it isn't, but it sure is looking like Wall Street is completely rigged.


Well, these Hedge Fund Managers can just go and install Solar Panels, right? Maybe they will just learn to code. Or they can look forward to a significant $600 stimulus check. Heck, with the $1400 that should be coming after that, they should be good for the rest of the year. Am I doing this right?
"30 wins would be an extremely disappointing season" yeah, I said it and I mean it.
"When we all think alike, nobody is thinking" - Walter Lippmann

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Mori Chu
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Re: r/WallStreetBets and $GME

Post by Mori Chu »

I find it interesting when somebody suddenly becomes super interested in conflicts of interest among government officials in 2021. Where was that spriit in 2017 - 2020? And let's be clear that I do not in any way support Biden officials acting in inappropriate ways; if one of POTUS's advisors has a relationship to Robin Hood, they should not be involved in this matter.

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Indy
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Re: r/WallStreetBets and $GME

Post by Indy »

Mori Chu wrote:
Fri Jan 29, 2021 10:17 am
I find it interesting when somebody suddenly becomes super interested in conflicts of interest among government officials in 2021. Where was that spriit in 2017 - 2020? And let's be clear that I do not in any way support Biden officials acting in inappropriate ways; if one of POTUS's advisors has a relationship to Robin Hood, they should not be involved in this matter.
right?

And, OF COURSE!

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Indy
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Re: r/WallStreetBets and $GME

Post by Indy »

And I will say this--hedge funds are not bad things. They are places where people are hedging their bets. The fundamental idea is that you invest in competing markets so that if the bottom drops out of one, the other usually spikes, so you aren't losing money. But the borrowing of shares is awful and shouldn't be allowed.

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In2ition
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Re: r/WallStreetBets and $GME

Post by In2ition »

You're right. Hedge Funds aren't necessarily evil, but manipulating markets so that it works the way that they benefit you in a insider trading type tactic is really bad, imo.
"30 wins would be an extremely disappointing season" yeah, I said it and I mean it.
"When we all think alike, nobody is thinking" - Walter Lippmann

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