GameStop : GME
Sort of. As retail pile in, more and more shares come out of the pool available for borrow, as retail are generally not in the custody system. So it is a double whammy for the shorts, the price is going up and simultaneously the volume of shares available for borrow is reduced and the prime brokers need to start calling shares back due to the reduced shares in the available borrow.
Someone has worked this out and is milking it in an amazing way.
It is a giant game of pass the parcel.
No idea how true this position is (in photoshop age) but he's down $14 million off his highs but still up millions & planning to hold...
https://www.reddit.com/r/wallstreetbets ... urce=share
https://www.reddit.com/r/wallstreetbets ... urce=share
This from what I now perceive isn't about anything other than wanting to punish hedge funds and that feeling has gotten stronger when Citadel "apparently" reloaded on their short position before Robinhood restricted people from buying it.... its now attracted the attention of no other than AOC & Ted Cruz who are calling for an investigation into Robinhood... also seeing posts that say law suits have been filed against Robinhood. What a way to take the mind off all the other drama we currently have.
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Reddit users saying they're taking this to $5k per share... I'm gonna need plenty of beers while I watch this one play out... I'm half tempted to buy some shares, who knows what level of crazy we could get to.
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I heard the hedgefunds have investments in robinhood & other day trader apps (not sure if its true) and robinhoods t&c allow that company to sell their data to 3rd parties, e.g. buy / sell positions... Could be the lawyers also have a field day on this one...
Custodians, brokers, administrators, clearing agents have also sold market data for a long time. These aren’t the droids your looking for.sionascaig wrote: ↑Fri Jan 29, 2021 8:32 amI heard the hedgefunds have investments in robinhood & other day trader apps (not sure if its true) and robinhoods t&c allow that company to sell their data to 3rd parties, e.g. buy / sell positions... Could be the lawyers also have a field day on this one...
- marksmeets302
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I think I can answer that for AOC. All those robinhooders that bought GME at 300+ did so on margin. Meaning, that if GME sinks back to 20 there won't be enough money in their accounts to cover the losses and robinhood will be left holding the bag. For the clients it's #YOLO, for RH it could mean bankruptcy.jamesg46 wrote: ↑Thu Jan 28, 2021 11:29 pmThis from what I now perceive isn't about anything other than wanting to punish hedge funds and that feeling has gotten stronger when Citadel "apparently" reloaded on their short position before Robinhood restricted people from buying it.... its now attracted the attention of no other than AOC & Ted Cruz who are calling for an investigation into Robinhood... also seeing posts that say law suits have been filed against Robinhood. What a way to take the mind off all the other drama we currently have.
This has nothing to do with oppressing the little guy; it's just risk management.
I'm not buying that, Robinhood could easily close the.trades closer to $20 but they chose to start doing it in the $250+ area, plus they've been closing open positions that got taken after leverage restrictions were in place. Some of the average folk who bought on leverage at a higher price than $100 then fair enough, close the position but some are in at $6.marksmeets302 wrote: ↑Fri Jan 29, 2021 8:55 amI think I can answer that for AOC. All those robinhooders that bought GME at 300+ did so on margin. Meaning, that if GME sinks back to 20 there won't be enough money in their accounts to cover the losses and robinhood will be left holding the bag. For the clients it's #YOLO, for RH it could mean bankruptcy.jamesg46 wrote: ↑Thu Jan 28, 2021 11:29 pmThis from what I now perceive isn't about anything other than wanting to punish hedge funds and that feeling has gotten stronger when Citadel "apparently" reloaded on their short position before Robinhood restricted people from buying it.... its now attracted the attention of no other than AOC & Ted Cruz who are calling for an investigation into Robinhood... also seeing posts that say law suits have been filed against Robinhood. What a way to take the mind off all the other drama we currently have.
This has nothing to do with oppressing the little guy; it's just risk management.