Hedge fund tries to short Gamestop, now gets short squeezed by R/wallstreetbets

[Associate Justice PiT]

     It amuses me more than it should that a major hedge fund is suffering now because of a random band of internet trolls. I don't condone their actions, but I also don't have much sympathy for the hedge fund.

[lfromnj]

     It amuses me more than it should that a major hedge fund is suffering now because of a random band of internet trolls. I don't condone their actions, but I also don't have much sympathy for the hedge fund.

Whats wrong with their actions ?
They saw an opportunity and used it.

[Associate Justice PiT]

     It amuses me more than it should that a major hedge fund is suffering now because of a random band of internet trolls. I don't condone their actions, but I also don't have much sympathy for the hedge fund.

Whats wrong with their actions ?
They saw an opportunity and used it.

     They are pretty much just doing it as a troll. I don't advocate punishing them or anything, but it isn't the best motivation for someone to act upon.

[leonardothered]

     It amuses me more than it should that a major hedge fund is suffering now because of a random band of internet trolls. I don't condone their actions, but I also don't have much sympathy for the hedge fund.

Whats wrong with their actions ?
They saw an opportunity and used it.

     They are pretty much just doing it as a troll. I don't advocate punishing them or anything, but it isn't the best motivation for someone to act upon.

It was a good business opportunity. The risks of shorting naked shorts was... well, naked. IF and IF they can manage to pull this off, the flock will end up wealthier. It was sound advice. It was a check on the balance that hasn't ever been seen before.

The people in the carriage with them profit; how is this a troll? Riling the base into supporting a good move maybe, but you're talking about dog eat dog economics and worrying about moral implication?!?!!?

[Nightcore Nationalist]

This is one of the greatest moments of Populism in the last 4 years,  Every moment I spent browsing twitter in the last 2 days has been joyous.

Isn't it beautiful? 

[True Federalist (진정한 연방 주의자)]

I've accidentally made money in this foolishness. I own some shares of AMCX (the cable network company) that has apparently been confused by some for AMC (the movie theater company).

[compucomp]

    It amuses me more than it should that a major hedge fund is suffering now because of a random band of internet trolls. I don't condone their actions, but I also don't have much sympathy for the hedge fund.

Whats wrong with their actions ?
They saw an opportunity and used it.

It is coordinated action to distort the market. If the actors were a group of institutional investors it would probably be considered market manipulation and the group would be punished.

[H.E. VOLODYMYR ZELENKSYY]

These guys are like El Profesor from La Casa de Papel if he were on coke all the time.

[GP270watch]

I've accidentally made money in this foolishness. I own some shares of AMCX (the cable network company) that has apparently been confused by some for AMC (the movie theater company).

 It's because a lot of these morons are using leverage to speculate on these stocks and when they go to buy options and contracts they don't even know what they're looking at.

[GALeftist]

Speaking of market manipulation, a bunch of brokerages just made a bunch of tickers ($GME, $BB, $AMC among others) sell only i.e. you can't buy the stock or contracts, just close existing positions

This is just hilariously blatant

[lfromnj]

     It amuses me more than it should that a major hedge fund is suffering now because of a random band of internet trolls. I don't condone their actions, but I also don't have much sympathy for the hedge fund.

Whats wrong with their actions ?
They saw an opportunity and used it.

     They are pretty much just doing it as a troll. I don't advocate punishing them or anything, but it isn't the best motivation for someone to act upon.

The hedge fund shorted 140% of available game stop stocks. Considering there's a limited supply and they eventually have to pay that back,further limiting the supply would force the stock to zoom up making these people profit. Making money isn't trolling even if its funny.

[lfromnj]

Putting a temporary freeze on all trades of Gamestop and the other companies is probably acceptable  to let the internet cool off due to the fact a bigger investor doing this might be borderline illegal. However freezing only buying stocks is disgusting.

It isn't for the safety of the buyers.

[Sestak]

So much for the free market lmao

[lfromnj]

So much for the free market lmao

Gamers of the world unite,you have nothing to lose but your moms tendies.

[GlobeSoc]

So much for the free market lmao

Gamers of the world unite,you have nothing to lose but your moms tendies.

crimson avatar??

[Sestak]

https://mobile.twitter.com/AOC/status/1354830697459032066

[lfromnj]

How does it even work if buying is blocked but selling isn't?


That just means the sales offers have to be flooded with no buyers which would cause a collapse in price?


Am I wrong?

[TiltsAreUnderrated]

So much for the free market lmao

It's another confirmation that an unrestricted free market (in the Reaganite sense) is inherently unstable. The US' current mode of capitalism has crossed the Rubicon: older and richer investors have bought power in the right places and leveraged that to keep everyone else down.

I'm still glad this happened, rather than angry. The destruction of one hedge fund was unlikely to make a dent in Wall Street, but the elites' class-conscious response will drop the scales from the eyes of many talented folk who could go on to work against it.

[lfromnj]

Enterprising young people putting their stimulus checks to good use.

And now "Wallstreet" to save a few billions from one or 2 hedgefunds is creating a bunch of angry socialists(not me, I am just meming) of these young people who were about to win for once and maybe actually get involved in the market.  Other hedgefunds would have made their money back over the next few years as most of these people are idiot high-risk traders who would have eventually screwed up.

[compucomp]

https://mobile.twitter.com/AOC/status/1354830697459032066

It will be hilarious when AOC (and Ted Lieu, who posted a similar Tweet) when they realize that WallStreetBets was once moderated by Martin Shkreli the Pharma Bro, fully embodies his attitudes, and has substantial overlap with MAGA (which has already been noted by several media outlets). Defending r/WSB brigading/market manipulation is not the hill they want to be dying on.

[lfromnj]

https://mobile.twitter.com/AOC/status/1354830697459032066

It will be hilarious when AOC (and Ted Lieu, who posted a similar Tweet) when they realize that WallStreetBets was once moderated by Martin Shkreli the Pharma Bro, fully embodies his attitudes, and has substantial overlap with MAGA (which has already been noted by several media outlets). Defending r/WSB brigading/market manipulation is not the hill they want to be dying on.

And how is a brokerage freezing only the buying of a stock acceptable?

That literally manipulates the market as one can only sell the stock from now on. There is nothing  comparable to a bunch of idiot sh**tlords who got lucky/found a good moment to this happening.

If the idiot hedgefund  didn't short so many stocks they would have never been in this position.

Also to note: I don't have any GME stocks, I only recently found about it and I did have a feeling something would happen soon to make it collapse and I am not stupid enough to get caught up in the latest craze/meme.

[jaymichaud]

Let’s not forget it never used to be this way- back in the 1920s everyone used to buy stocks/bonds/shares. Housewives would buy them, farmers would, maids would. People even used to do it for fun and with friends, it was no different than buying a scratch card or using a fruit machine.

[Sestak]

How does it even work if buying is blocked but selling isn't?


That just means the sales offers have to be flooded with no buyers which would cause a collapse in price?


Am I wrong?

Yeah, unless a substantial number of people who aren’t on Robinhood are still buying.

Which, since the price seems to have recovered most of the way back to yesterday’s close (after being down over 50%), it appears is happening.

[lfromnj]

How does it even work if buying is blocked but selling isn't?


That just means the sales offers have to be flooded with no buyers which would cause a collapse in price?


Am I wrong?

Yeah, unless a substantial number of people who aren’t on Robinhood are still buying.

Which, since the price seems to have recovered most of the way back to yesterday’s close (after being down over 50%), it appears is happening.

Yes some brokerages are not blocking these stocks like Fidelity. Overall it still seems obvious what the end result of Robinhood's actions would be if every brokerage did this. That would force either new buyers through a very manual process to buy the stock or not buy it at all.

[TiltsAreUnderrated]

https://mobile.twitter.com/AOC/status/1354830697459032066

It will be hilarious when AOC (and Ted Lieu, who posted a similar Tweet) when they realize that WallStreetBets was once moderated by Martin Shkreli the Pharma Bro, fully embodies his attitudes, and has substantial overlap with MAGA (which has already been noted by several media outlets). Defending r/WSB brigading/market manipulation is not the hill they want to be dying on.

I doubt they care. Whatever their partisan preferences prior to this debacle, the ideology of the bear-raiding hedge fund that was targeted is worse and - more importantly - it has brought about far more actual harm. It's the power dynamics that matter here and I don't think I'm alone on the left in seeing an attempt at popular organisation being suppressed by greedy oligarchs.

Edit: The remains of Resistance Twitter and dishonest political actors misrepresenting them may defend Wall Street's manipulations under the pretext of "stopping hate speech," but I think that will be less effective now that Trump is no longer president (I think people have gradually been growing wiser to it anyway).