Wallstreet bets

[AugustaHibs]

Anyone keeping up with what’s going on?

A bunch of redditors have managed to bankrupt a huge multi billion dollar hedge fund. It’s absolutely incredible to see.

The main site people are using to buy the GameStop and other shares is ‘Robinhood’ who have now stopped people buying these shares.

[Mon Dieu4]

It's been absolutely tremendous to watch it play out, just goes to show that the "free" market isn't really free at all, big business still wants a say in who can and can't take part

[AugustaHibs]

It's been absolutely tremendous to watch it play out, just goes to show that the "free" market isn't really free at all, big business still wants a say in who can and can't take part


I also feel like this is just the beginning. Do they not realise that by blocking people from doing free market trading they’re just stoking the fire?

[Mon Dieu4]

I also feel like this is just the beginning. Do they not realise that by blocking people from doing free market trading they’re just stoking the fire?

It's seems like the first thing in a while that's got everyone behind it, left, right and people of all colours and persuasions, interesting to see where it all goes

[GlesgaeHibby]

Anyone keeping up with what’s going on?

A bunch of redditors have managed to bankrupt a huge multi billion dollar hedge fund. It’s absolutely incredible to see.

The main site people are using to buy the GameStop and other shares is ‘Robinhood’ who have now stopped people buying these shares.

Yeah, trading 212 was down most of yesterday afternoon because of GameStop and AMC.

Seems it's only hedge funds that are allowed to rig the system. They've fought back by blocking buy orders.

[CapitalGreen]

Trading volume on GME is still very high despite new purchases being halted for many retail investors. This suggests that it’s not just normal retail investors taking on these hedge funds but likely other hedge funds are involved as well. So while some hedge funds are going south others are making serious money on their demise. Unfortunately the end point of all this will probably be more regulations and tighter restrictions on trading for your regular man on the street retail investor.

[RyeSloan]

It’s been hilarious watching the hedge funds getting toasted and then bleating about it...talk about getting done at your own game!

But on the flip side orderly markets are a basic requirement and stock price manipulation benefits no one in the long run (I do hope the redditers took their profits and ran!) so I can understand why trading has been stopped. What I don’t understand is why it’s the platforms that have done that and not the exchanges themselves.

And while it’s been a hoot to watch the news go global anyone who has been invested in AIM shares before will know that this kind of social media pump n dump is hardly anything new!

[The_Exile]

Anything which brings these *******s down should be applauded and encouraged. Some great stories coming out of all this.

[Max_Shah]

Owen Jones from the Grauniad (https://www.urbandictionary.com/define.php?term=Grauniad) writes:

"How the boogaloo white-nationalists are taking down Wall Street Hedge Funds from within. Here is why this is bad thing and why Trump is to blame."

#GamerGate. #FlyMeToTheMoon

On a more serious note for a comprehensive real-time overview check out:

(https://kiwifarms.net/threads/r-wsb-autists-taking-on-a-wallstreet-hedgefund-elon-musk-involved-as-always.83987/)https://kiwifarms.net/threads/r-wsb-autists-taking-on-a-wallstreet-hedgefund-elon-musk-involved-as-always.83987/

Please be careful, however, as this site is VERY NSFW in terms of the language and political viewpoints espoused - think of it as a slightly more respectable version of /pol - but most of the guys/gals/NB's doing it are posting in the Fred.

[RyeSloan]

Owen Jones from the Grauniad (https://www.urbandictionary.com/define.php?term=Grauniad) writes:

"How the boogaloo white-nationalists are taking down Wall Street Hedge Funds from within. Here is why this is bad thing and why Trump is to blame."

#GamerGate. #FlyMeToTheMoon

On a more serious note for a comprehensive real-time overview check out:

(https://kiwifarms.net/threads/r-wsb-autists-taking-on-a-wallstreet-hedgefund-elon-musk-involved-as-always.83987/)https://kiwifarms.net/threads/r-wsb-autists-taking-on-a-wallstreet-hedgefund-elon-musk-involved-as-always.83987/

Please be careful, however, as this site is VERY NSFW in terms of the language and political viewpoints espoused - think of it as a slightly more respectable version of /pol - but most of the guys/gals/NB's doing it are posting in the Fred.

Love this line:

"we can remain ******ed for longer than they can stay solvent!"

Absolute classic.

[Keith_M]

IMHO, the big players in the Stock Markets are evil.

The one that had the most trouble has been 'shorting' on this particular company, which can have dangerous consequences in the real world, so deserves everything it gets.

These people literally gamble with other people's livelihoods and, in some cases, their lives.

[CloudSquall]

The world wide Robin Hood society in Nottingham is receiving a boost in Twitter followers today :greengrin

https://mobile.twitter.com/robinhood/status/1354786505873625091

[Radium]

https://twitter.com/ritapanahi/status/1354634668746838020?s=21

I have an idea what is going on but this sums up the bigger issue quite well


Sent from my iPhone using Tapatalk

[Wembley67]

What many folk don't seem to realise their little game may be causing their own pension pots and investments to shrink. I can see what they are trying to prove but it's pretty stupid.

[RyeSloan]

What many folk don't seem to realise their little game may be causing their own pension pots and investments to shrink. I can see what they are trying to prove but it's pretty stupid.

Yeah it’s all a great laugh when the punters are making cash but on the flip side you will have plenty people jumping in and inevitably many will be left holding the baby.

They will only then realise the whole thing is predicated on the greater fool theory and they are that fool.

And while the ‘man on the street’ seem to have had a few wins here it seems to me that ultimately this is nothing more than orchestrated market manipulation and a classic pump n dump.

Conversely the Hedge Funds are no stranger to such things either..Muddy Waters and the like have previous for building a short then releasing an allegedly damming report to sink the share price (and inflate their profits)

So the main argument here is that it appears to be one rule for the Hedgies yet when the PI tries to do similar there is another rule for them.

[AugustaHibs]

What many folk don't seem to realise their little game may be causing their own pension pots and investments to shrink. I can see what they are trying to prove but it's pretty stupid.

From the people I’ve read doing this they are not remotely bothered about that. It is far bigger than that

[Keith_M]

What many folk don't seem to realise their little game may be causing their own pension pots and investments to shrink. I can see what they are trying to prove but it's pretty stupid.


It depends whether you agree that accumulating money, no matter how you go about it, is a good thing.

There are so many things that are done in the Stock Market that may be legal but are definitely not ethical. It's about time that regulations were brought in to limit the damage caused by these people (though I'm not holding my breath).

[wookie70]

I have been suggesting for at least a decade that trade unions use this type of tactic to win disputes. Say Unison said to all their members to move their electricity to a specific provider. Now it would take time but if there was a dispute they ask all members to move their contracts elsewhere. Now do the with all services, banks, utilities, supermarkets etc and you have massive power. The rich have manipulated markets for years. It is about time the stock markets are destroyed by the workers

[LustForLeith]

Imagine I’m an idiot..!

Could someone please explain to me in simplistic terms what’s happened! Thanks!

[speedy_gonzales]

Imagine I’m an idiot..!

Could someone please explain to me in simplistic terms what’s happened! Thanks!

Someone has created this little thread on Twitter, simplifying it, think it could still be a little simpler though.

https://twitter.com/livvbenn/status/1354875800588226561?s=19

[Stairway 2 7]

Everyone thinks this is hilarious but you have to remember there is real people who own yachts losing money here

[Northernhibee]

Imagine I’m an idiot..!

Could someone please explain to me in simplistic terms what’s happened! Thanks!

Say that you see a product that you're confident is going to drop in value - let's say the iPod. Your friends all own iPods so you borrow them off them with the promise of returning them, you sell them on eBay when the price is high and wait for (as you expect they will) the price to plummet. You buy the iPods back at the lower price, return them to your friends and pocket the difference between the selling and buying prices.

Hedge funds seen that GameStop were potentially in a financially vulnerable position and they in essence tried to do similar with shares in the company, but the group on Reddit thought "**** that" and bought a whole heap of GameStop shares. As demand was high the price rose from what they'd been sold for, leaving the hedge funds owing the metaphorical iPods back but with having to spent much, much more than what they sold them for.

Essentially "hedge funds place a bet and lose" but as they're rich they get to moan and cry about it.

[LustForLeith]

Thanks!

I think (!!!) I’m sussing this out.

However, see with the hedge fund - did they have too much shares in GameStop? This is the bit I think I’m struggling with!

Thanks!

[The_Exile]

Thanks!

I think (!!!) I’m sussing this out.

However, see with the hedge fund - did they have too much shares in GameStop? This is the bit I think I’m struggling with!

Thanks!

They can bet on theoretical shares, it gets quite complex but I think you can short around 150% of the amount of shares or the company value. They’ve been doing this forever, that’s how they can destroy companies and lives, all for more and more money.

[LustForLeith]

They can bet on theoretical shares, it gets quite complex but I think you can short around 150% of the amount of shares or the company value. They’ve been doing this forever, that’s how they can destroy companies and lives, all for more and more money.

I think I read that the hedge fund in question was around 120%.

But the folk buying the shares aren’t doing anything illegal are they?

[RyeSloan]

They can bet on theoretical shares, it gets quite complex but I think you can short around 150% of the amount of shares or the company value. They’ve been doing this forever, that’s how they can destroy companies and lives, all for more and more money.

I think the story around shorting is a bit more nuanced than that.

On a simple level someone having a short on a company impacts the trading and profitability of that company in no way what so ever.

The shenanigans and manipulation some of the big hedge funds get up to in order to try and profit from their shorts is a different matter all together tho.

But again going back to basics there is short positions on thousands of companies all the time that have zero impact on the companies day to day performance.

A perfect example of that is in the UK right now Sainsbury’s is the 6th most shorted stock on the market. Will that destroy Sainsbury’s? No it won’t.

[LustForLeith]

Anyone else thinking, like the Big Short, this is going to make a cracking movie?

[Gatecrasher]

Anyone else thinking, like the Big Short, this is going to make a cracking movie?

The big short is a great film, I can't wait to see Margot Robbie in a bath explaining this one.

[Keith_M]

...I can't wait to see Margot Robbie in a bath ...


:agree:

[wookie70]

Anyone else thinking, like the Big Short, this is going to make a cracking movie? One of my favourite movies. It shows exactly how the world's finances are run by tiny minded, greedy rich boys who can make the rules up as they go along knowing working people have to pick the tab up if they make a mess of things.

[Max_Shah]

My understanding is the $$$'s made will be withdrawn and invested in Silver when the Melvin-hedge gets trimmed for over $5bn on Monday.

We are witnessing the end of the wage-slave being able to participate in the stock market and to think over a decade of impotent "Occupy Wall Street" activism has crumbled in the face of a few spotty ****-posters on ****ing Reddit of all places.

The audacity of these proles has upset a LOT of people. Again most of the participants with real money in the game are posting in this Fred:

https://kiwifarms.net/threads/r-wsb-autists-taking-on-a-wallstreet-hedgefund-elon-musk-involved-as-always.83987/

History in action. Be part of it or observe & document from afar.

Please be careful as this forum is not for the faint hearted nor is it for the easily offended; however, if you want real time updates on how the working class is upsetting the movement of fictitious capital then have a read and a laugh.

[RyeSloan]

Silver is indeed the new target...up 15% last week and now 10% up today alone.

The precious metals market has been a particularly manipulated one for many years and a great frustration to many.

So I’m not surprised so see this as the next stomping ground. Going to be interesting to see how this plays out.

And this one is even easier to take part in...anyone with a trading account or stocks n shares ISA can buy a silver or precious metals ETF at the drop of a hat. You can even join the big boys and buy leveraged ones up to 5x the daily moves easily enough as well.....not that I’m recommending you do of course! Just saying that you can!

[LustForLeith]

Anyone else thinking, like the Big Short, this is going to make a cracking movie?

Not one but two movies being developed!

[CapitalGreen]

Trading volume on GME is still very high despite new purchases being halted for many retail investors. This suggests that it’s not just normal retail investors taking on these hedge funds but likely other hedge funds are involved as well. So while some hedge funds are going south others are making serious money on their demise. Unfortunately the end point of all this will probably be more regulations and tighter restrictions on trading for your regular man on the street retail investor.

One of the many hedge funds to profit.
https://www.bloomberg.com/news/articles/2021-02-02/mudrick-capital-gains-200-million-on-amc-gamestop-in-wild-week