this GME play is the financial story of the year by far. reddit basically memed themselves into insane profits
AMC and BB might be the next main street troll investments. might lump on a bit and see what happens😆
Wait, Reddit has done what?
Quincy Abeyie wrote: Wait, Reddit has done what?
https://www.bloomberg.com/opinion/articles/2021-01-27/gamestop-short-squeeze-is-rage-against-the-financial-machine
its not about the money, its about the message :egg:
Occupy Wall Street was such a waste of time. This is so much better.
deardevil wrote: Anyone buy/buying Bitcoin? Held some for a few years, right up until July when I sold it all. Thoughts, theories on this bubble?
Anyone buy/buying Bitcoin?
Held some for a few years, right up until July when I sold it all.
Thoughts, theories on this bubble?
yep bought a tranch of BTC/ETH in 2016 and during crypto winter 2019. managed to minimise the losses during the 2017 bloodbath, by luck more than anything
Gazza M wrote: Quincy Abeyie wrote: Wait, Reddit has done what? https://www.bloomberg.com/opinion/articles/2021-01-27/gamestop-short-squeeze-is-rage-against-the-financial-machine its not about the money, its about the message :egg:
Will read the entire article after work, but from what I've read so far that journalist sounds exactly like what those redditors are calling him. 😆
https://www.cnbc.com/2021/01/27/hedge-fund-targeted-by-reddit-board-melvin-capital-closed-out-of-gamestop-short-position-tuesday.html
[size=small]Melvin Capital closed out its short position in GameStop on Tuesday afternoon after taking a huge loss, the hedge fund’s manager told CNBC.[/size] [size=small]CNBC could not confirm the amount of losses the firm took on the short position. Citadel and Point72 have infused close to $3 billion into Melvin Capital to shore up its finances.[/size]
[size=small]Melvin Capital closed out its short position in GameStop on Tuesday afternoon after taking a huge loss, the hedge fund’s manager told CNBC.[/size]
[size=small]CNBC could not confirm the amount of losses the firm took on the short position. Citadel and Point72 have infused close to $3 billion into Melvin Capital to shore up its finances.[/size]
Best thing that happened in 2021. Redistributing the wealth to all of us
Welcome to the free markets!
Of course though don't expect this to last long. Discord have already shut a server down and I'm sure there will be more roadblocks put up from authorities as the Hedge Fund owners call in favours. The game is only rigged in their favour!
yep lots of popular retail brokers like Robinhood are blocking trading on the meme stocks like gme and amc. europe and asia are starting to pour money into this thing as well now. fascinated to see where this lands
Wallstreetbets discord got shut down for "hate speech" last night (think its back up now), the subreddit had to go private for a few hours too. I'd say you wont see this happen again, its going to be destroyed one way or another.
The Financial Times ran an article implying wallstreebets had connections with the alt-right.
They've since retracted those comments.
Most retail trading platforms have suspending trading too. Pretty naked manipulation.
[Twitter]
😆
For those who are better versed at this, is the ban on Robinhood etc. a legitimate one based on applicable rules, or just a way to protect the rich hedge fund investors?
Mirth wrote: The Financial Times ran an article implying wallstreebets had connections with the alt-right.
I heard CNN claimed it was linked to Trump supporters but I didn't see the article.
FEBravo wrote: For those who are better versed at this, is the ban on Robinhood etc. a legitimate one based on applicable rules, or just a way to protect the rich hedge fund investors?
They are doing whatever they can to protect the institutions after what happened to Melvin.
https://news.avclub.com/the-reddit-stonks-story-is-so-powerful-it-sucked-jon-1846156369?utm_source=twitter&utm_medium=SocialMarketing&utm_campaign=dlvrit&utm_content=avclub
I don't see how what Robinhood etc. are doing can be legal. Aren't they blatantly trying to create a crash for the GME stocks?
they have a tonne of litigation coming their way now, and a shaky looking IPO
