OT: $GME

litespeedhuskerfan

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I read something that said it was halted, and started back up again a shor time later...thought I also read at the same time it was halted the institutions stated they had covered most of their short positions, which sounds like bullshit and a blatant attempt to manipulate a stock price to me. Which again, is fine if you're an institution.
 

Crazyhole

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Jun 4, 2004
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I read something that said it was halted, and started back up again a shor time later...thought I also read at the same time it was halted the institutions stated they had covered most of their short positions, which sounds like bullshit and a blatant attempt to manipulate a stock price to me. Which again, is fine if you're an institution.
There's no way the shorts have been covered. Volume is still ridiculously high. This will be the fastest collapse we have ever seen, lol.
 

Suhrreal

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Ya'll are talking about Gamestop and the market looks like it's on the brink of a crash.
 

Suhrreal

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Good. I can't think of a better way to reset things than a bunch of day-traders getting rich at the expense of hedgefunds that have been taking advantage of the average man.

Well it won't just be the hedge funds taking a hit. Pensions, retirement funds, etc. will be going along with it.

Unless they reorganized their portfolios to Gamestop in the past few weeks
 

John_J_Rambo

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Good. I can't think of a better way to reset things than a bunch of day-traders getting rich at the expense of hedgefunds that have been taking advantage of the average man.
YES!!!!! SWEET MOTHER OF GOD YES!!!!!

from these ashes a phoenix of actual value stocks shall rise. prepare your duckets, for they shall have a home soon.

it's just good fundies, as Keith Hernandez would say.
 

John_J_Rambo

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There's no way the shorts have been covered. Volume is still ridiculously high. This will be the fastest collapse we have ever seen, lol.
Friday we shall see the squeeze

get your puts in now (I'm a dummie, not a financial advisor. do not, under any circumstances, listen to me)
 
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John_J_Rambo

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I read something that said it was halted, and started back up again a shor time later...thought I also read at the same time it was halted the institutions stated they had covered most of their short positions, which sounds like bullshit and a blatant attempt to manipulate a stock price to me. Which again, is fine if you're an institution.
both $GME and $AMC have been halted more than a dozen times in the last 3 days of trading.

hasn't stopped the rocket ship.

finance pros complaining about illogical behavior while the common man holds their collective middle finger high.
 

SomedayHusker

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A dollar is currency, bitcoin is a computer program labeled as an asset, definitely not a currency. In addition, Bitcoin is a computer program that does no useful work, other than sucker in more credulous people thinking it's a real asset.

Ok. Most dollars are now virtually the same thing, a number on a computer program. The few paper dollar bills left are each worth maybe 1 BTU of heat in a fire. The government will have you put faith in whatever they want because they have more guns. I believe we’ll be moving to a cashless society relatively soon (I’m not for this) but it doesn’t matter what fiat vehicle they use to get there.
 
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Crazyhole

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Well it won't just be the hedge funds taking a hit. Pensions, retirement funds, etc. will be going along with it.

Unless they reorganized their portfolios to Gamestop in the past few weeks
So there should be no risk involved in investing in those funds? The market needs to reset to its natural form, and it will one way or another.
 

John_J_Rambo

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Well it won't just be the hedge funds taking a hit. Pensions, retirement funds, etc. will be going along with it.

Unless they reorganized their portfolios to Gamestop in the past few weeks
I believe that's what their fees are for. you know, to manage those things properly for their customers.
 

Crazyhole

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I believe that's what their fees are for. you know, to manage those things properly for their customers.
This is a perfect example of what has gone wrong with banking and investments in the last 40 years. We now have people stuck with an investment of 23 billion dollars against a company that might be worth 100 million. I feel bad for people that have pensions tied up in this, but those people need to understand that it was a gamble in the first place, regardless of how safe the history made it out to be.
 
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Suhrreal

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When a hedge fund blows up 1,000,000 retail investors, that's an efficient market. When 1,000,000 retail investors target a hedge fund, that's market manipulation (not mine).

You guys are crazy if you think retail is the one making out like bandits here. Who do you think controlled the extreme majority of shares in all these products before the action began? Wall Street will make out like bandits once again and guess who will be holding $500 Gamestop bags when the music stops? Not Wall Street.

I'm also amused that you will believe the media when they say reddit is responsible for this parabolic rise but then turn around and accuse them of lying when they claim the short funds have covered. Who do you think controls the media? Money talks.
 

litespeedhuskerfan

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You guys are crazy if you think retail is the one making out like bandits here. Who do you think controlled the extreme majority of shares in all these products before the action began? Wall Street will make out like bandits once again and guess who will be holding $500 Gamestop bags when the music stops? Not Wall Street.

Then what are you worried about?
 

Suhrreal

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I must have misunderstood your previous posts on this, my apologies.

No problem. I'm just making observations about what is going on. Many are caught up in the mania focused on GME and AMC and other trash pushing higher. Meanwhile the market indexes are down 2% for the 2nd straight day. It's a big distraction.
 
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drubendall

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No problem. I'm just making observations about what is going on. Many are caught up in the mania focused on GME and AMC and other trash pushing higher. Meanwhile the market indexes are down 2% for the 2nd straight day. It's a big distraction.
It's expected. Look for a 10 to 20% correction during biden's first 90 days. People think that Wall Street returns can be disconnected from main Street indefinitely?
 
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Crazyhole

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Who would have ever guessed that a subreddit forum could potentially bring down the global economy? Thats a legitimate possibility.
 
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Suhrreal

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You're missing big picture here

The market is the big picture. GME just dropped $100 in 15 minutes. Retail are being swindled here. Just like the cryptocurrency market they are being lured in by the media and delusions of "sticking it to the big guys."
 
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bradjens

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May 20, 2006
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In one month a 100k turned into 1.8 million. The masses are pushing up prices with no value. It’s like a Ponzi s scheme but the other companies on the short list are also going way up. When this crashes you will see the SEC try to stop this I. The future. Large brokerage houses have pushed up prices now the little guys have figured out how to manipulate the markets also.
Crazy times
 
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Suhrreal

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Who would have ever guessed that a subreddit forum could potentially bring down the global economy? Thats a legitimate possibility.

It's a legitimate possibility when you consider what happens if they all swap calls for puts in the most sensitive parts of the market as it sells off. The gamma flips and instead of squeezing the price up it accelerates the sell-off down.

Of course, the Fed can always step in at any time as they are used to doing.
 
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GretnaShawn

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In one month a 100k turned into 1.8 million. The masses are pushing up prices with no value. It’s like a Ponzi s scheme but the other companies on the short list are also going way up. When this crashes you will see the SEC try to stop this I. The future. Large brokerage houses have pushed up prices now the little guys have figured out how to manipulate the markets also.
Crazy times

It’s hilarious that only now are the institutions upset and want change. Fine for them. But how dare the unwashed masses play their game.
 

Suhrreal

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It’s hilarious that only now are the institutions upset and want change. Fine for them. But how dare the unwashed masses play their game.

Everything that got squeezed up today has now cratered in the last 30 minutes. I see BB down almost 20% in the last half hour. A lot of the "unwashed masses" that played this game are either about to be holding some expensive bags or will have a gross decision to make.
 

Suhrreal

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On Wednesday evening, r/WallStreetBets was taken off of Discord's service.

"Today, we decided to remove the server and its owner from Discord for continuing to allow hateful and discriminatory content after repeated warnings," Discord said in a statement, according to The Verge.

Around the same time as The Verge's report hit, r/WallStreetBets became a private forum.

See Also: Wall Street Turbulence Catches Attention Of White House, Regulators

"To be clear, we did not ban this server due to financial fraud related to GameStop or other stocks," the statement read. "Discord welcomes a broad variety of personal finance discussions, from investment clubs and day traders to college students and professional financial advisors. We are monitoring this situation and in the event there are allegations of illegal activities, we will cooperate with authorities as appropriate."

The aforementioned stocks, among others, were all sharply lower in Wednesdy'ss after-hours trading session. GameStop and BlackBerry were down about 26%, while AMC was down about 33%.

Copyright © 2021 Benzinga (BZ Newswire, http://www.benzinga.com/licensing). Benzinga does not provide investmentadvice. All rights reserved.
Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga Pro (http://pro.benzinga.com)
 
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John_J_Rambo

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On Wednesday evening, r/WallStreetBets was taken off of Discord's service.

"Today, we decided to remove the server and its owner from Discord for continuing to allow hateful and discriminatory content after repeated warnings," Discord said in a statement, according to The Verge.

Around the same time as The Verge's report hit, r/WallStreetBets became a private forum.

See Also: Wall Street Turbulence Catches Attention Of White House, Regulators

"To be clear, we did not ban this server due to financial fraud related to GameStop or other stocks," the statement read. "Discord welcomes a broad variety of personal finance discussions, from investment clubs and day traders to college students and professional financial advisors. We are monitoring this situation and in the event there are allegations of illegal activities, we will cooperate with authorities as appropriate."

The aforementioned stocks, among others, were all sharply lower in Wednesdy'ss after-hours trading session. GameStop and BlackBerry were down about 26%, while AMC was down about 33%.

Copyright © 2021 Benzinga (BZ Newswire, http://www.benzinga.com/licensing). Benzinga does not provide investmentadvice. All rights reserved.
Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga Pro (http://pro.benzinga.com)
the suits are running scared and starting to fight dirty

BUY BUY BUY

HOLD HOLD HOLD

*do not take investing advice from me, for I am a total idiot & not a financial advisor
 

Crazyhole

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It's a legitimate possibility when you consider what happens if they all swap calls for puts in the most sensitive parts of the market as it sells off. The gamma flips and instead of squeezing the price up it accelerates the sell-off down.

Of course, the Fed can always step in at any time as they are used to doing.
The FED is probably going to step away completely.. Probably sooner rather than later since the populace has figured out how to play the game. This should be fun to watch, other than seeing retirees losing their nest egg.
 

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