[2/4 @ $88 per share] GME - Gamestop stock - anyone following this absolute MEME-HILARITY (now with Elon tweet)

[ponyo]

Robinhood now relaxing some of the crazy buy restrictions on WSB stocks. After they totally stopped and killed the gamma squeeze and what would've been the Mother of All Squeezes. Gamma squeeze causes short squeeze which leads to nuclear explosion. Nuclear explosion is chain reaction.

They tied retail hands and allowed shorts to short ladder the price down without any fear of the short ladder blowing up in their face since retail had their hands tied and couldn't buy. Once the hedges took away people's pitchfork and torches to light the fuse on the nuclear bomb, they say now you can play. After they surrounded the demonstrators and blocked them in with army of paid soldiers with machine guns, tanks, and artilleries all pointed at the retail demonstrators.

I don't care about the money. But if some of the crooked hedges and elites don't go to jail after all this is over, I'll be so disappointed. That's all I really want. I just want some of the really bad rich players to go to jail for once. At least so we can pretend the law and the system are somewhat fair to all.

 

[RearAdmiral]

Robinhood now relaxing some of the crazy buy restrictions on WSB stocks. After they totally stopped and killed the gamma squeeze and what would've been the Mother of All Squeezes. Gamma squeeze causes short squeeze which leads to nuclear explosion. Nuclear explosion is chain reaction.

They tied retail hands and allowed shorts to short ladder the price down without any fear of the short ladder blowing up in their face since retail had their hands tied and couldn't buy. Once the hedges took away people's pitchfork and torches to light the fuse on the nuclear bomb, they say now you can play. After they surrounded the demonstrators and blocked them in with army of paid soldiers with machine guns, tanks, and artilleries all pointed at the retail demonstrators.

I don't care about the money. But if some of the crooked hedges and elites don't go to jail after all this is over, I'll be so disappointed. That's all I really want. I just want some of the really bad rich players to go to jail for once. At least so we can pretend the law and the system are somewhat fair to all.

In speaking to my wife about this I simply figured it was them(HFs) assuming they will get fined 150M and then go about their normal business with some rule changes from the SEC.

 

[ultimatebob]

Robinhood now relaxing some of the crazy buy restrictions on WSB stocks. After they totally stopped and killed the gamma squeeze and what would've been the Mother of All Squeezes. Gamma squeeze causes short squeeze which leads to nuclear explosion. Nuclear explosion is chain reaction.

They tied retail hands and allowed shorts to short ladder the price down without any fear of the short ladder blowing up in their face since retail had their hands tied and couldn't buy. Once the hedges took away people's pitchfork and torches to light the fuse on the nuclear bomb, they say now you can play. After they surrounded the demonstrators and blocked them in with army of paid soldiers with machine guns, tanks, and artilleries all pointed at the retail demonstrators.

I don't care about the money. But if some of the crooked hedges and elites don't go to jail after all this is over, I'll be so disappointed. That's all I really want. I just want some of the really bad rich players to go to jail for once. At least so we can pretend the law and the system are somewhat fair to all.

It didn't happen in 2008, what makes you think that it will happen now?

 

[Tweak155]

It didn't happen in 2008, what makes you think that it will happen now?

Way more awareness as to what was happening as it happened to the common folk. 2008 hit everyone by surprise as they didn't know what was going on.

Previously, people were taking loans they shouldn't have, and banks were giving loans they shouldn't have. In this case, only one side did egregious manipulation. And, the data is a lot simpler to see.

But, I'm still not optimistic. They'll probably sweep it under the rug as another "don't want to cause public panic" maneuver.

 

[Torn Mind]

It didn't happen in 2008, what makes you think that it will happen now?

Washington is pretty bipartisan regarding Wall Street. Prop and support 100%; with scale backs only occurring when a major fuck up occurs.

 

[dullard]

Previously, people were taking loans they shouldn't have, and banks were giving loans they shouldn't have. In this case, only one side did egregious manipulation. And, the data is a lot simpler to see.

If anyone bought this bubble in the last week on margin, or worse with options, then they took out loans that they shouldn't have. And Robinhood kept giving loans when they couldn't keep giving them loans (had to stop buying until they raised funds). If this turns out to be a giant pump-and-dump, then I'd have a hard time saying that only one side did egregious manipulation.

 

[ponyo]

If anyone bought this bubble in the last week on margin, or worse with options, then they took out loans that they shouldn't have. And Robinhood kept giving loans when they couldn't keep giving them loans (had to stop buying until they raised funds). If this turns out to be a giant pump-and-dump, then I'd have a hard time saying that only one side did egregious manipulation.

Most of these WSB stocks went to 100% margin requirement. That's what happens on volatile stocks. That's the trick brokerages use when they think something is too hot and want to slow down or kill the momentum. And it works. And no one would've complained if that's all they did because that's happened before with red hot stocks. But 100% margin is not just what they did. They restricted and forbid you to buy even with cash in the account to 100% cover the trade. That's what IB did to me. I had over million dollars idle cash sitting in my IB account doing nothing and when I tried to buy shares in GME, my order was rejected. Flat out refused. I've never seen that in my entire life. I've never read about prior situation this ever happening.

 

[RichieZ]

Most of these WSB stocks went to 100% margin requirement. That's what happens on volatile stocks. That's the trick brokerages use when they think something is too hot and want to slow down or kill the momentum. And it works. And no one would've complained if that's all they did because that's happened before with red hot stocks. But 100% margin is not just what they did. They restricted and forbid you to buy even with cash in the account to 100% cover the trade. That's what IB did to me. I had over million dollars idle cash sitting in my IB account doing nothing and when I tried to buy shares in GME, my order was rejected. Flat out refused. I've never seen that in my entire life. I've never read about prior situation this ever happening.

Prime brokerage account

 

[dullard]

I had over million dollars idle cash sitting in my IB account doing nothing and when I tried to buy shares in GME, my order was rejected. Flat out refused. I've never seen that in my entire life. I've never read about prior situation this ever happening.

There is no telling with 20-20 vision what exactly would have happened to you. But, just as a hypothetical, if you had bought at $265/share when you first complained in this thread, and held it until now, then a $1,000,000 bet would have lost you $604,490.60. You might be quite lucky that it happened. Even if you held it until the end of Thursday, since you mentioned that you thought it would be over by Friday, then you would have been down $255,000.

Yes, companies should let you purchase when you have cash. The problem here is that Robinhood as a company didn't segregate your cash, and it had no cash at the moment to actually buy shares with. That should be addressed and Robinhood should be investigated for doing so.

Yet still, that is just a distraction. Anyone who bought this on margin in the last week is screwed.

 

[ponyo]

There is no telling with 20-20 vision what exactly would have happened to you. But, just as a hypothetical, if you had bought at $265/share when you first complained in this thread, and held it, then a $1,000,000 bet would have lost you $604,490.60. You might be quite lucky that it happened.

Yes, companies should let you purchase when you have cash. The problem here is that Robinhood as a company didn't segregate your cash, and it had no cash at the moment to actually buy shares with. That should be addressed and Robinhood should be investigated for doing so.

Yet still, that is just a distraction. Anyone who bought this on margin in the last week is screwed.

Fuck. I need dullard to hold my hand and protect me from losing money. Thank you for helping me keep my money! I'm so lucky to have someone so knowledgable protecting me from my stupid self. Because you know I'm a WSB retard. Unbelievable.

 

[Red Squirrel]

I think this needs to be the next meme stock, need to bring it up to 420!

NICE Ltd (NICE) Stock Price, News, Quote & History - Yahoo Finance

Find the latest NICE Ltd (NICE) stock quote, history, news and other vital information to help you with your stock trading and investing.

finance.yahoo.com

 

[dullard]

when I tried to buy shares in GME, my order was rejected. Flat out refused. I've never seen that in my entire life. I've never read about prior situation this ever happening.

I need dullard to hold my hand and protect me from losing money. Thank you for helping me keep my money! I'm so lucky to have someone so knowledgable protecting me from my stupid self.

Seems like you haven't read history. It is full of situations where buy orders weren't fulfilled. You don't need me, you just need to read up, since you admitted yourself that you hadn't ever read about it.

The Secret History of Securities Regulation: Frear-Fulbright Edition

It was August, 1964. President Lyndon Johnson was about to sign into law the most important Wall Street reforms since the Great Depression.

www.cnbc.com

Banking And Securities Industry Committee (BASIC) Definition

The Banking and Securities Industry Committee (BASIC) sought to uphold uniform rules and regulations regarding the trading and settlement of securities.

www.investopedia.com

SEC Net Capital and Customer Protection Rules Still Matter

A brief overview of Rule 15c3-3 and Rule 15c3-1 and an explanation of why they are still relevant, even some years after the financial crisis.

www.nyif.com

 

[Grey_Beard]

Fuck. I need dullard to hold my hand and protect me from losing money. Thank you for helping me keep my money! I'm so lucky to have someone so knowledgable protecting me from my stupid self. Because you know I'm a WSB retard. Unbelievable.

Not sure this is not over yet. I am not getting in any deeper. It might get another bump given that there are still a good amount of short shares. When the media hype stops, it will either rise or the nefarious activity of the manipulators will increase dramatically.

Seems dullard is great at reminding you when you are going to Vegas that the storm which canceled your flight saved you so much money you could lost. The world needs more of this.

 

[ultimatebob]

You still holding onto GME with those diamond hands of yours, Ponyo?

 

[ponyo]

You still holding onto GME with those diamond hands of yours, Ponyo?

I have diamond hands portion to support the cause, and I have trade portion. Everything comfortably within my risk tolerance and zero gamble money I can't afford to lose. GME is entertainment play for me and won't move the needle one way or the other for me. This isn't my first rodeo playing with volatile names.

 

[ultimatebob]

I have diamond hands portion to support the cause, and I have trade portion. Everything comfortably within my risk tolerance and zero gamble money I can't afford to lose. GME is entertainment play for me and won't move the needle one way or the other for me. This isn't my first rodeo playing with volatile names.

Cool! I sold my GME at $380. Call me a paper handed bitch if you want, but I actually made some money off of this pump and dump!

 

[ponyo]

Cool! I sold my GME at $380. Call me a paper handed bitch if you want, but I actually made some money off of this pump and dump!

It's all good! Name of the game is to make money. As long as you didn't cheat, break rules, or kill to get that money, enjoy! Just remember to set aside portion of the gain to pay the IRS and your state.

This was never about money with me. I have plenty and more than someone like me probably deserve.

 

[highland145]

It's all good! Name of the game is to make money. As long as you didn't cheat, break rules, or kill to get that money, enjoy! Just remember to set aside portion of the gain to pay the IRS and your state.

 

[Svnla]

Down to $90 from $139 this morning. Many lost a lot of money and not just the hedge funds.

GameStop shares fall more than 40% as prominent booster draws inquiry

Video game retailer has lost more than $30 billion in market value after a stock frenzy driven by Reddit board.

www.cbsnews.com

 

[ultimatebob]

I noticed that u/DFV didn't sell any stock, though. I'm not sure if I should be impressed by his giant brass balls, or just confused as to why he didn't sell just a portion of his holdings a few days ago to lock in his profits.

 

[ponyo]

DFV has beachball sized diamond balls. People will say yeah but he bought in for pennies and can afford the losses because he's sitting on $13 million cash in addition to his GME shares and options. True but imagine yourself in his shoes and his account just decreased by another $13 million after like $7 million loss he suffered yesterday. At his peak, he was likely above $65 million+. Imagine having that and seeing like $43 million just evaporate. I don't care who you are, you start thinking about beach houses and other things you could've spent that money on. Gone. Imagine the pressure he's under to keep holding GME because if he sold out, probably the entire WSB subreddit would turn on him and millions would be disappointed and heartbroken. Imagine carrying that kind of pressure and burden and having to worry about that in addition to his GME positions. I would not want to be him. Those are some heavy chains.

https://www.reddit.com/r/wallstreetbets/comments/lb6jld

 

[dullard]

Many lost a lot of money and not just the hedge funds.

The unspeakable question: How many hedge funds profited on this volatility?

 

[Miramonti]

DFV has beachball sized diamond balls. People will say yeah but he bought in for pennies and can afford the losses because he's sitting on $13 million cash in addition to his GME shares and options. True but imagine yourself in his shoes and his account just decreased by another $13 million after like $7 million loss he suffered yesterday. At his peak, he was likely above $65 million+. Imagine having that and seeing like $43 million just evaporate. I don't care who you are, you start thinking about beach houses and other things you could've spent that money on. Gone. Imagine the pressure he's under to keep holding GME because if he sold out, probably the entire WSB subreddit would turn on him and millions would be disappointed and heartbroken. Imagine carrying that kind of pressure and burden and having to worry about that in addition to his GME positions. I would not want to be him. Those are some heavy chains.

https://www.reddit.com/r/wallstreetbets/comments/lb6jld

Honestly I don't know what is more aggregious, being short a large stock position and not covering when it goes as low as $2.57, or getting long shortly after and not profit taking when it goes as high as $483. It's like fighting to win every battle, but turning your back when you have a chance to win the war.

 

[Miramonti]

Reddit is going to get all the credit for the volatility, but I believe the professional firms were the sharks lurking below the surface that attacked once smelling blood in the water.

 

[Artorias]

DFV has beachball sized diamond balls. People will say yeah but he bought in for pennies and can afford the losses because he's sitting on $13 million cash in addition to his GME shares and options. True but imagine yourself in his shoes and his account just decreased by another $13 million after like $7 million loss he suffered yesterday. At his peak, he was likely above $65 million+. Imagine having that and seeing like $43 million just evaporate. I don't care who you are, you start thinking about beach houses and other things you could've spent that money on. Gone. Imagine the pressure he's under to keep holding GME because if he sold out, probably the entire WSB subreddit would turn on him and millions would be disappointed and heartbroken. Imagine carrying that kind of pressure and burden and having to worry about that in addition to his GME positions. I would not want to be him. Those are some heavy chains.

https://www.reddit.com/r/wallstreetbets/comments/lb6jld

I'm genuinely concerned about this attitude of "if he can hold, you can hold". Some folks put a lot of money that they should not have in the stocks.

I don't want to start reading stories about suicides a few weeks later, like with that kid last year.