GameStop : GME

[jamesg46]

And now we have a halt back up

[jamesg46]

How big will the bounce be

[jamesg46]

Bounce from $112 to $250 and now maybe the rollover.

[jamesg46]

Wall Street cried hard enough then.

[gazuty]

Surely this is just one giant pump and dump scheme?

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.

[jamesg46]

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

[gazuty]

All of this exuberance tends to portend we are closer to the end of the bull run than the start. Who knows when the wave will break, but it will and then the pain of the foolish will wash through the system.

[jamesg46]

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.

[jamesg46]

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.

[jamesg46]

I would love to see this happen, even as a spectator.

[jamesg46]

this isn't reality, we're in a simulation.

[sionascaig]

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...

[gazuty]

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.

[marksmeets302]

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.

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.
This has nothing to do with oppressing the little guy; it's just risk management.

[jamesg46]

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.

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.
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.