Did anybody see the news about this?
this event is also the only time where the right and left have been united in a looooooooooong time
GME and r/wallstreetbets
Posts
Total:
22
GME TO THE MOON
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@Dr.Franklin
Watching coverage on outlets like MSNBC is sort of surreal. They are acting like this is some sort of unprecedented threat to the economy. When investment firms do this kind of shit literally every day. They have been doing this shit to gamestop specifically to try to suppress their stock price so they can make more money. But when a bunch of redditors beat them at their own game, well now we need the SEC and more regulation to step in to put a stop to this...
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@HistoryBuff
You are seriously siding with the hedge funds? You would rather take the side of billionaires rather than the common person. Unlike billionaires, normal people invest in lower stock due to the lack of money they have. What Robinhood is doing and how the govt is trying to limit and interfere with the market is ILLEGAL and UNCONSITUTIONAL. The free market should be free, restrictions lead to a poorer population
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@Dr.Franklin
I have followed this story with interest. I'm fine with redditors banding together to fuck the hedges although it seems very likely to crash in the short term. I hope none of these little guys have invested the rent money because most of them are going to be holding on to losing lottery tickets. The e-traders colluding to prevent new buys is just straight out billionaire crime. They seem to hear the howls of outrage and I guess most will allow free trade again tomorrow but they have been unmasked as tools of the street and deserve to lose every single customer they ever had.
The best bet tomorrow is the least tainted e-trader out there.
Increasingly, Wall St. has drifted from the center of capital investment and price setting to Gordon-Gecko-greed-is-gooders maximizing profit from US losses- pirates deciding who wins and who loses.
After the Crash of '29, Roosevelt installed his political enemy Joe Kennedy as the first SEC- the last patriotic insider who knew Wall St's tricks and how to compel honest trading. I know BIden just appointed Allison Herren Lee as acting commissioner but her portfolio does not suggest the kind of powerhouse reformer we need after four years of complete non-regulation. Honestly, I'd seriously consider putting someone like Carl Ichan in the job in spite of Trump affiliations with strict orders for transparent reform.
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@oromagi
I agree, I believe short buys are ultimately flawed, but companies like Robinhood should not be limiting access to buy these stocks. Now the stock has decreased because big billionaires are going to sell. The free market should be free, not restricted. Restricted markets are communism
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@Vader
-> @oromagiI agree, I believe short buys are ultimately flawed, but companies like Robinhood should not be limiting access to buy these stocks. Now the stock has decreased because big billionaires are going to sell. The free market should be free, not restricted. Restricted markets are communism
Restricted markets are not communism in any sense but its nice to be on the same side of an issue for once.
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@oromagi
I agree
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@Vader
You are seriously siding with the hedge funds? You would rather take the side of billionaires rather than the common person.
oh god no. I was saying watching corporatist news media spin users on reddit as some kind of threat while billionaires who do this get invited on their show all the time is messed up. I 100% side with the people on reddit over greedy hedge fund managers.
What Robinhood is doing and how the govt is trying to limit and interfere with the market is ILLEGAL and UNCONSITUTIONAL. The free market should be free, restrictions lead to a poorer population
I'm not sure I agree with the sentiment that there can't be restrictions on the market. But I definitely agree that Robinhood shutting down the buying of stock and only allowing the selling should be investigated. They were clearly trying to help minimize the losses of those investment firms.
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@oromagi
Increasingly, Wall St. has drifted from the center of capital investment and price setting to Gordon-Gecko-greed-is-gooders maximizing profit from US losses- pirates deciding who wins and who loses.
yep.
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@HistoryBuff
yeah it is ridiculous that people make much money on the downfall of a company
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@HistoryBuff
I agree 100%. There needs to be an investigation.
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@HistoryBuff
Only thing I disagree with is restrictions. I am a Libertarian so I don't think markets should be restricted. If the average person can invest in these short funds and make some money for long term investments, then I have no problem.
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@Vader
Only thing I disagree with is restrictions. I am a Libertarian so I don't think markets should be restricted. If the average person can invest in these short funds and make some money for long term investments, then I have no problem.
well there are lots of way regulation can make things better. Without regulation you end up with a system prone to collapsing in on itself. Like the 2008 financial crisis. a little bit of banking regulation would have prevented that entire crisis. But because rules were so lacking, banks took insane risks chasing profits and ended up causing massive damage to everyone.
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@HistoryBuff
Basic regulation, but ultimately, too much hurts the economy. You can never have a truly free market, but the freer the better
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@Vader
Basic regulation, but ultimately, too much hurts the economy.
I think we would disagree on where that line is. But fully agree with your point.
You can never have a truly free market, but the freer the better
true, but again, i'm guessing we would strongly disagree on how free is too free. For example, we need much stronger banking regulations to prevent things like the 2008 financial crisis. They hurt ALOT of people because they wanted to take extremely risky bets. If they were only going to hurt themselves with this shit, then fine do whatever you want. But these people are endangering the entire economy. And at that point, you need regulation to make sure they don't blow it up, like they did in 2008.
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@oromagi
I hope none of these little guys have invested the rent money because most of them are going to be holding on to losing lottery tickets.
Lol hopefully they can get their rent reduced from $900 a month to $250 a month.
8 days later
From what I've read on mainstream news, the largest beneficiaries are going to be the other hedges. Also, it seems like GME is staying firmly planted on Earth's soil.
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@Trent0405
Thanks for the link!
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@3RU7AL
Lol, I thought it was kinda funny.
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@Dr.Franklin
GME currently at 52.
We need to keep GME above 30 for the next three months to continue to squeeze out the shorts.
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@3RU7AL
yep