Lol, yeah. That's what I get for fucking off here and working at the same time.
Err... Trick question, you just pocket the revenue and lose nothing!
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Robinhood Has Restricted Users From Buying GME, AMC, BB, NAKD, and NOK Stocks.
- Thread starter Lucky Aces
- Start date
Lol, yeah. That's what I get for fucking off here and working at the same time.
Err... Trick question, you just pocket the revenue and lose nothing!
It is almost like everyone who isn't Wall Street, their media cronies or corrupt regulators, hate Wall Street.
no worries. was thinking maybe I missed something very basic :)
They literally, openly discussed a coordinated effort to devalue a stock for personal gain, triggering involuntary sell-offs in the process, and expressed intent to keep doing it until it hits their desired price target...
Insane.
No, they basically sold stock they didn't have to attempt to make the business fail and drop the stock price drop to zero before they were expected to deliver the stock they sold. Now they have to buy at inflated market value to deliver the stock they already sold.
Gross oversimplification, but they weren't investing, they were destroying.
It's the opposite. They borrowed shares from other shareholders and promised to give them back by the end of the month, roughly, and now have to frantically buy them regardless of how expensive they are in order to give them back.
Haha this guy thinking making damn near a million dollars for fuck all work from an entity doesn't constitute a relationship with said entity. Wild stuff in this thread.
More like rich shitheads betting a stock would collapse, and so Reddit bought lots of stock to raise its value. The terms of the bet mean the rich shitheads have to buy the stocks back at whatever price they are now, and thatll drive the price even higher.
Billions lost.
Sorry to hear that. But even if you managed to make a push for something, they would porbably pay a fine and continue doing the same or slighlty modified thing. Clearly nobody wants to regulate this (for obvious reasons) and so large institutions will keep doing this because there's a lot of $$$ to be made.
Wall Street isn't getting fucked. a few HF got caught and screwed. The only ones who got burned were their investors. The rest of the market rode up with them. Black rock owns a significant chunk of GME. I don't think they are mad. A ton of hedge funds have made a killing these past few days
AOC knows nothing about how these markets actually work.
Retail investors are a small part of the trading pool in GMe.
Remember that most of the people you see commenting and the politicians have no clue how any of this actually works. They are going for easy political points.
A hedge fund losing all of its money is bad for its investors but this isn't a LTCM situation nor is it a systemic risk.
Finally someone who's not ignorant. Been saying many times this isn't the feel good story everyone thinks it is.
Interactive Brokers Chairman justified the shutdown by saying it is a LTCM situation and was a systemic risk (in not so many words).
it says right at the bottom that Melvins parent company is Citadel. That is not correct. Citadel and a lot of others are invested in Melvin but it's an independent entity
remember when robinhood's shitty user interface made some guy commit suicide because he thought he was in massive debt? Yeah I hope every one who works there goes to jail after today's events.
Kinda, what Robinhood is doing is far worse though, 100% market manipulation.
I don't event care if I lose the money I invested into this. This is now a class war. Buy and hold that shit!
Right, that's why there was a concerted effort my a large number of brokerages today to stop retail trading on specific stocks so, and when their value plummeted, the hedges kept trading on them? Righhhttt Wallstreet was not getting fucked
I just find it curious everyone's talking up Janet Yellen like she'll be the arbiter in this.
If anything, assuming he gets confirmed, it's going to be Gary Gensler at the helm of the SEC, and he will not be kind.
It's just a bummer that his confirmation may take a while.
The guy who thought he was suddenly in like a million dollars of debt? Yeah was extremely fucked up. I hope they go to jail too, because the nonsense pulled today is ridiculous. Unlike 2008, I think situations like these can have consequences for all of Wallstreet even if politicians don't fully grasp what happened, it doesn't matter.
I'm transferring everything out of Robinhood and consolidating other brokerage accounts I have. What's the best one? A well-designed app is really important to me — and sadly one of the things I really like about Robinhood.
Vanguard and Schwab have really archaic apps from what I've seen.
Vanguard and Schwab have really archaic apps from what I've seen.
So since it's a few hedge funds it's not wall street getting fucked? At what point is it "Wall Street getting fucked"? Cause it seems the genie is outta the bottle and this might just be the start.
I don't think people actually mean all of Wall Street when they say Wall Street are getting fucked. It's not like people want the world economy to fail. They just want to see a few smug dickheads lose money, and smug dickheads is how this all got started.
Obviously retail is getting help from other big money names behind the scenes but it is nice to see retail profit in a situation like this. People paying off loans, surgeries, houses. I know what you are saying but it still feels good to me.
best one in term of risk management/market fill and shares availability is fidelity, unfortunately their app is crap. TD and webull are also pretty good and have decent mobile apps
Yes and then when it all crashes there will be retail who may have used borrowed funds to get in that will be in trouble or lose their savings. I guarantee there's a lot of dumb money that are gonna burn as well.
I don't even think that, I just found trying to claim getting paid that much for an job with so little work on multiple occasions as being a nothing relationship laughable.
He is speaking about other Brokers having a liquidity issue due to the massive demand and swings in volatility that would put them in violation of net capital requirements while they wait for the trades to clear. Brokers must have enough net capital to close out all customer accounts on liquidation. If not, you can spiral out because you are in violation of the SeC rules and could potentially liquidate and not be able to meet customers expected balances.
RH just borrowed hundreds of millions today to ensure they don't go illiquid and under until the trades clear and everything settles.
the risk he is speaking of is having a brokerage go completely under and then you have no idea who is on what side of the trades.
the systemic risk has nothing to do with a few hedge funds getting caught on the wrong side of a trade. All hedge funds deal direct with a prime broker. They don't use any of these discount houses that ran into issues.
LTCM had like $1T in notational derivatives as they were levering to maximize such small value discrepancies.
Melvin did not have that kind of juice.
Well, this famously happened in the Netherlands in the 17th century:
Tulip mania - Wikipedia
Also where I'm at. It feels disingenuous and discounting it just because she's on our side.
This is a great explanation, and sweet avatar/username combo to go with it.
We are talking about two different things. I see your original post referenced a system risk from hedge funds not brokers. But I am sure you will agree GME has certainly caused a lot of additional positions to be liquidated to make margin.
I'm talking about people acting like this is small guys vs hedge funds.
this is hedge funds vs hedge funds with the small guys thinking they are making the moves. The volumes traded here are HF money. Even the options are getting written for short dated calls in million dollars chunks.
this isn't WSB. It's a short squeeze with a focus.
Really? You think Elizabeth Warren doesn't know what she's talking about?
Yeah, like wasn't $20 billion moved in dollar volume yesterday or the day before which was the highest in the market. Higher then Apple and Tesla, How could that just be retail investors. There's obviously other players moving cause I dont see retail having that much money.
yes it has and you have seen that. Shorts have been liquidating all week. It's broadly pressured the market but not much. You will notice that the most shorter names have been going up in price even if not focused on by WSB as these guys liquidate to cover.
it's still not a true risk. Hedge funds go belly up all the time.
the concern was that brokers who shouldn't be a risk would become a risk because they couldn't meet the volatility.
it's not like the SEC wasn't involved in everything this week. I assume they had a hand in the RH bailout today
yeah he just kept saying we #1 on App Store like that matters. Who gives a fuck. That interview was a train wreck. And how does he deem it was the correct decision to stop all buying but then literally the next day it's okay.
I would jump in for a share of GME but I have a regular job and can't jump when the value rockets.
I'm with ya in spirit though
I'm with ya in spirit though