Do you care if a hedge fund ate the big one?

[javadog]

Originally Posted by jyl

Evidence?

There have been a hundred articles written on it. Save me from typing and read of few of them.

[sammyg2]

If a group of people are using your app to commit what could very well be a crime, and there's a good chance you could be accused of complicity, wouldn't you try to intervene for no other reason that self-preservation?
I certainly would.
In fact I would have put a hold on the trading accounts on everyone buying one of these stocks.


But officer, I didn't rob the bank. I just gave my friends a ride to and from the bank .....

[wdfifteen]

"Ihor Dusaniwsky, the managing director of predictive analytics for S3, said in a tweet that GameStop short-sellers have recorded nearly $20 billion in losses so far in 2021.
$GME short interest is $11.20B; 57.83M shares shorted; 113.31% of Float; 53.12% S3 SI% Flt; 29% fee & easing. Shares shorted down -5.08M shares, worth $983 million, -8.07%, last week. Shorts down -$19.75B in 2021 mark-to-market losses; down -$7.83B on today's +70% move"

Can someone kindly translate that?

[Sooner or later]

Originally Posted by sammyg2

If a group of people are using your app to commit what could very well be a crime, and there's a good chance you could be accused of complicity, wouldn't you try to intervene for no other reason that self-preservation?
I certainly would.
In fact I would have put a hold on the trading accounts on everyone buying one of these stocks.


But officer, I didn't rob the bank. I just gave my friends a ride to and from the bank .....

We don't know enough to determine if a crime has been committed.

[sammyg2]

We know that intentional market manipulation is a crime.
We know that an group of people orchestrated a coordinated huge buy-up on certain stocks in order to manipulate the price.
I don't see how anyone could honestly deny that.

Whether is can be prosecuted may be a different story.

[speeder]

Originally Posted by sammyg2

We know that intentional market manipulation is a crime.
We know that an group of people orchestrated a coordinated huge buy-up on certain stocks in order to manipulate the price.
I don't see how anyone could honestly deny that.

Whether is can be prosecuted may be a different story.

That happens everyday. CNBC or Motley Fool pumps a stock and it goes up the next day. Of course, they already own it. There is nothing remotely illegal about telling people to buy a certain stock.

[speeder]

Where do I buy stock in hookers and blow, that's what I want to know...

[speeder]

Looking for the tweet that says, "This party is getting freaky" with the list of people attacking Robinhood including AOC, Donald Trump Jr., Ted Cruz, etc.

[speeder]

Redditors: We can stay retarded longer than they can stay solvent..."

[rusnak]

Originally Posted by speeder

Redditors: We can stay retarded longer than they can stay solvent..."

Ha! Or Sub-Ha!

[sammyg2]

Problems rise when people who are not invested, have never invested, and don't have an inkling of a clue about investing, suddenly feel the need to share their opinions on the subject.

[Tobra]

Originally Posted by Bill Douglas

Will still on the topic of social media and finances...

I'd like to see the same game, but BIGGER, played on China. Not their stock market, but their whole economy. Something like "Don't buy anything Chinese made for the next six months."

I am down for this, won't have to do anything different.

[colingreene]

[tdw28210]

Well, it's getting a little more real for "Wall Street". Texas AG is now asking questions. (And he doesn't seem to be interested in talking to the Reddit/WSB posters). What I find interesting is that it seems to imply that certain players worked together to shut down chat servers related to WallStreetBets.

"Attorney General Ken Paxton today issued 13 Civil Investigative Demands (CIDs) to Discord, Robinhood Financial, Robinhood Markets, Robinhood Securities, Interactive Brokers, TD Ameritrade, TD Bank, E-Trade, WeBull Financial, Public Holdings, M1 Holdings, Citadel Financial, and Apex Clearing Corporation, regarding the prohibition of certain stock purchases, requiring higher margin reserves for trading certain companies, and suspending chat platform activity. In addition to public statements and internal documents, the CIDs request copies of all terms of service, policies related to content control and moderation, and communications between platforms and moderators of chat servers, including decisions to limit, control, or prevent access to the Discord r/WallStreetBets server."

https://www.texasattorneygeneral.gov/news/releases/ag-paxton-issues-cids-robinhood-discord-citadel-and-others-suspended-stock-trading-and-investing

[jyl]

Originally Posted by Tobra

I am down for this, won't have to do anything different.

Chinese investors, including the retail daytrader types who are a bigger portion of investment there than here, are active in US stocks. I’m not sure how much volume they push. There’s at least one Chinese billionaire whose posting on r/wsb claiming to be buying millions of GME to support the people, the irony of which appears to escape the game boys.

The guy on r/wsb who started all this has been identified, a financial advisor in the Northeast (MA?) who created at least two r/wsb aliases and started pumping the trade last year, claims to have made tens of millions. I would imagine his posts and trades are being scrutinized. Of course others pumped the trade too and are still doing so, and what he’s doing may or may not be illegal (on paper it sure looks like manipulation but who knows if the SEC wants to pursue it). If it isn’t, then I guess anyone (even a group of hedge funds) can feel free to create dozens of fake aliases and organize a mob trade - long or short.

[jyl]

Originally Posted by wdfifteen

"Ihor Dusaniwsky, the managing director of predictive analytics for S3, said in a tweet that GameStop short-sellers have recorded nearly $20 billion in losses so far in 2021.
$GME short interest is $11.20B; 57.83M shares shorted; 113.31% of Float; 53.12% S3 SI% Flt; 29% fee & easing. Shares shorted down -5.08M shares, worth $983 million, -8.07%, last week. Shorts down -$19.75B in 2021 mark-to-market losses; down -$7.83B on today's +70% move"

Can someone kindly translate that?

Someone looks at reported short interest and calculates loss based on stock price change between reports. Of course, they don’t know if the short positions were hedged, or what trading there was between reports. I’d be surprised if HF who are currently short GME haven’t hedged the position, in which case there wouldn’t be near that calculated loss today.

Basically I think it’s not a very reliable conclusion.

[Esel Mann]

it's nothing more than a pump n dump. that pretty much sums it up.

[dafischer]

Some are going to be left holding a very nasty bag-o-****. Oh well...

[pmax]

At the end of the day, the house wins.

They see everything.

[Arizona_928]

Originally Posted by speeder

That happens everyday, you moron. CNBC or Motley Fool pumps a stock and it goes up the next day. Of course, they already own it. There is nothing remotely illegal about telling people to buy a certain stock.

This