Investing questions

[Wild Bill]

Imagine being so powerful you can short a stock into oblivion and then literally stop anyone from buying it.

These people aren't criminals. They're a ruthless mob. Financial terrorists. It's that basic. It's that simple. We need to commit whatever resources we have to hunting them down and bringing them to justice.

Just another stark reminder of Carlin's "It's a big club and you ain't in it" bit.

We're not but we can find out who is.

The true divide in this country isn't left and right, it's up and down.

Correct. The right vs left political theater makes it possible to a great extent. It gives the financial terrorists cover.

 

[IrishLax]

Maybe none. Maybe many.

I'd bet my last dollar there will be no criminal investigation on behalf of their customers or in the interest of justice. I think that's the part that doesn't sit well with people. It'll only be investigated if it's in the interest of big money.

Maybe we can file a civil suit and unintentionally expose criminality. All we need is a big pile of cash to depose billionaires and litigate against their army of attorneys so I'm sure that'll work out.

The silver lining here is that many on the right have realized that these money changers aren't good for our society, and if you combine that with the fanaticism on the left, maybe it leads to something.

Class action suit was just filed in New York against Robinhood.

 

[notredomer23]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Listening to irate New York hedge fund billionaire Leon Cooperman on CNBC right now lamenting people "sitting at home getting their checks from the government, trading their stocks."<br><br>“This fair share is a bullshit concept," he shouts. "It’s a way of attacking wealthy people." <a href="https://t.co/zFW6o1MFND">pic.twitter.com/zFW6o1MFND</a></p>— Jake Offenhartz (@jangelooff) <a href="https://twitter.com/jangelooff/status/1354846320494784515?ref_src=twsrc%5Etfw">January 28, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

It's amazing how either A. out of touch with reality these people are, or B. Evil they are.

 

[Wild Bill]

Class action suit was just filed in New York against Robinhood.

Assumed that would happen. I'm guessing it settles without much of a fight, attorneys will get a nice payday, plaintiffs will get a thousand post cards and a $17 check.

 

[notredomer23]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Just got a tip that Citadel reloaded their shorts before they told Robinhood to stop trading <a href="https://twitter.com/search?q=%24GME&src=ctag&ref_src=twsrc%5Etfw">$GME</a>.<br><br>If this is true, Ken Griffin and the Robinhood founders should be in jail.<br><br>This is class warfare.</p>— Justin Kan (@justinkan) <a href="https://twitter.com/justinkan/status/1354853920762253315?ref_src=twsrc%5Etfw">January 28, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[IrishRazor82]

It sucks being one of the 3 people on the planet that do not perfectly understand how shorting works. I feel like an alien.

 

[Whiskeyjack]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Listening to irate New York hedge fund billionaire Leon Cooperman on CNBC right now lamenting people "sitting at home getting their checks from the government, trading their stocks."<br><br>“This fair share is a bullshit concept," he shouts. "It’s a way of attacking wealthy people." <a href="https://t.co/zFW6o1MFND">pic.twitter.com/zFW6o1MFND</a></p>— Jake Offenhartz (@jangelooff) <a href="https://twitter.com/jangelooff/status/1354846320494784515?ref_src=twsrc%5Etfw">January 28, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

It's amazing how either A. out of touch with reality these people are, or B. Evil they are.

 

[IrishLax]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Just got a tip that Citadel reloaded their shorts before they told Robinhood to stop trading <a href="https://twitter.com/search?q=%24GME&src=ctag&ref_src=twsrc%5Etfw">$GME</a>.<br><br>If this is true, Ken Griffin and the Robinhood founders should be in jail.<br><br>This is class warfare.</p>— Justin Kan (@justinkan) <a href="https://twitter.com/justinkan/status/1354853920762253315?ref_src=twsrc%5Etfw">January 28, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

If true, this is criminal. But unless they were dumb enough to put it in an email it'll never get proven. Shorting GME at $400 and then taking direct action to crash the price is literally securities fraud.

 

[NDPhilly]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Listening to irate New York hedge fund billionaire Leon Cooperman on CNBC right now lamenting people "sitting at home getting their checks from the government, trading their stocks."<br><br>“This fair share is a bullshit concept," he shouts. "It’s a way of attacking wealthy people." <a href="https://t.co/zFW6o1MFND">pic.twitter.com/zFW6o1MFND</a></p>— Jake Offenhartz (@jangelooff) <a href="https://twitter.com/jangelooff/status/1354846320494784515?ref_src=twsrc%5Etfw">January 28, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

It's amazing how either A. out of touch with reality these people are, or B. Evil they are.

I watched this interview live and agree with everything that was said. It lasted 10+ minutes and this tweet picks the two most "controversial" takes.

 

[StPaul_Irish]

If true, this is criminal. But unless they were dumb enough to put it in an email it'll never get proven. Shorting GME at $400 and then taking direct action to crash the price is literally securities fraud.

I don't understand how this isn't what happened. I mean WSB pumped it up, Hedge Funds stood to loose millions, so they forced the short by not allowing people to trade it...in turn driving the price down. Weather there is an "email" trail or not, they literally stopped trading by force.

Am I reading this all wrong?

 

[GATTACA!]

It sucks being one of the 3 people on the planet that do not perfectly understand how shorting works. I feel like an alien.

You have 10 apples. I'm a big time investor who has a tip or feeling that the price of apples is going to drop for whatever reason. I ask to borrow your apples. I'll take your ten apples and in exchange I'll give them back to you at the end of the week plus $1. You agree, you get to keep your apples and make $1 for free.

I take your ten apples and I sell them to other people for $1 each. Seven days later I was right and now apples are only worth .50¢. It's time for me to give you back your apples. So I take the $10 I made and I buy 10 apples for $5. I give your your 10 apples and $1. I made a $4 profit for nothing.

Now imagine I borrowed every apple in existence, actually more than every apple I borrowed 140% of all apples. And then imagine people found out that I did this. They decide to start buying apples to make the price go up instead of down.

Now it's time for me to return 140% of all apples in existence, but instead of each one being worth 0.50¢ each one is worth $350. So now I legally have to start buying back 140% worth of apples at a $349 loss each.

 

[tussin]

As someone who watched $75k disappear in minutes, fuck these people. I've never been more angry in my entire life.

 

[drayer54]

I watched this interview live and agree with everything that was said. It lasted 10+ minutes and this tweet picks the two most "controversial" takes.

Same. He ranted on the three types of stocks for way too long, but that clip alone makes him look like an out of touch prick. That said, I don't think people like Cooperman understand the mindset or reality of the Reddit trader.

 

[PANDFAN]

As someone who watched $75k disappear in minutes, fuck these people. I've never been more angry in my entire life.

because of what is going on? excuse me but i know nothing in regards to stock market/trading etc

 

[tussin]

Same. He ranted on the three types of stocks for way too long, but that clip alone makes him look like an out of touch prick. That said, I don't think people like Cooperman understand the mindset or reality of the Reddit trader.

His argument was so dishonest on every level. This jackass is on TV telling everyone how every trade should be tied to "value" -- when he works in an industry filled with firms dedicated to technical, event-driven, and momentum trading.

The $GME thing started as a "value play" because his asshole friends unreasonably shorted a company to the point of near bankruptcy. As soon as the price crossed $20/share, the entire trade turned into purely technical with it being the greatest short squeeze ever. He knows it. Most of the retail traders know that's what is happening. But this a-hole decides to go on TV and complain about the Enterprise Value of the company to scare off the people that hopped on the trade late.

EDIT: For anyone who wants to watch an amazing video. Below is the WSB user that found this trade and publicized it... and laid out the whole scenario five months ago. The guy put in the hours and hard work to find the edge. At yesterday's close, he is up $43 million (yes, that's correct) on a $50K trade. I hope this ends with him being a billionaire and buying the Hampton house(s) of these assholes.

<iframe width="560" height="315" src="https://www.youtube.com/embed/JWdWCtLMoU0" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

 

[tussin]

because of what is going on? excuse me but i know nothing in regards to stock market/trading etc

Yes. From 10:30 to 11:30AM, I personally watched $75K of market value disappear in my $GME holdings because the brokerages prevented buying action and the hedge funds simultaneously launched a new short attack.

 

[StPaul_Irish]

Does anyone think that Robinhood will fold up their tent? I am wondering if I should sell ALL my positions, bank the money and run?

 

[IrishLax]

His argument was so dishonest on every level. This jackass is on TV telling everyone how every trade should be tied to "value" -- when he works in an industry filled with firms dedicated to technical, event-driven, and momentum trading.

The $GME thing started as a "value play" because his asshole friends unreasonably shorted a company to the point of near bankruptcy. As soon as the price crossed $20/share, the entire trade turned into purely technical with it being the greatest short squeeze ever. He knows it. Most of the retail traders know that's what is happening. But this a-hole decides to go on TV and complain about the Enterprise Value of the company to scare off the people that hopped on the trade late.

EDIT: For anyone who wants to watch an amazing video. Below is the WSB user that found this trade and publicized it... and laid out the whole scenario five months ago. The guy put in the hours and hard work to find the edge. At yesterday's close, he is up $43 million (yes, that's correct) on a $50K trade. I hope this ends with him being a billionaire and buying the Hampton house(s) of these assholes.

<iframe width="560" height="315" src="https://www.youtube.com/embed/JWdWCtLMoU0" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

How did he manage that? Didn't it peak at like 100x where he would've bought in? Did he work some other magic to get it to 1000x?

 

[GATTACA!]

How did he manage that? Didn't it peak at like 100x where he would've bought in? Did he work some other magic to get it to 1000x?

It was more than 4 months ago. He called it in September of 2019 IIRC. He didn't buy straight stock. Most of his plays were leap calls expiring in January this year.

He yolo'd 50k and hit the equivalent of a buzzer beater full court shot.

 

[tussin]

How did he manage that? Didn't it peak at like 100x where he would've bought in? Did he work some other magic to get it to 1000x?

Tons of cheap call options at low prices.

EDIT: You can track his entire journey of the trade on Reddit. His user name is u/DeepFuckingValue

 

[IrishLax]

It was more than 4 months ago. He called it in September of 2019 IIRC. He didn't buy straight stock. Most of his plays were leap calls expiring in January this year.

He yolo'd 50k and hit the equivalent of a buzzer beater full court shot.

Tons of cheap call options at low prices.

EDIT: You can track his entire journey of the trade on Reddit. His user name is u/DeepFuckingValue

Balls of steel.

 

[GATTACA!]

Balls of steel.

Beskar or adamantium

 

[tussin]

Balls of steel.

Speaking of which, the dude is still in.

 

[IrishLax]

Speaking of which, the dude is still in.

Crazy, I would've GTFO at $300 if I was him. Take the money and run.

 

[Meatloaf]

Speaking of which, the dude is still in.

DIAMOND HANDS

 

[GATTACA!]

Crazy, I would've GTFO at $300 if I was him. Take the money and run.

He's been taking out small chunks along the way. I think he's cleared 14 million already.

 

[notredomer23]

SIAP, but apparently Robinhood has been going into users’ accounts and selling all their shares of GameStop to “mitigate risk”.

 

[DCDomer]

I've been chucking (out of pure anger and hatred) about how ironic the name "Robinhood" now is.

 

[GATTACA!]

SIAP, but apparently Robinhood has been going into users’ accounts and selling all their shares of GameStop to “mitigate risk”.

Apparently it was people who had been trading on RH margin. Not that it makes it any less scummy or borderline illegal.

It's pretty fucked up that the math was clearly done and the conclusion was that tanking RH into the ground and whatever fines would come with intentionally manipulating GME's stock price was better than the butt fucking they were set to take.

 

[Henges24]

RH opening the stocks back up in the morning but at a limited capacity. What a fvcking joke.

The scumbag CEO was just on CNBC, still saying they made the right decision. NOK/AMC are about to boom tomorrow.