Gamestop?

ERObjd said:
The Peasants are making a profit. How Dare they! Wall street hedge fund managers will call Congress and want this fixed ASAP. I seem to recall back in 08 and 09 when I and millions of taxpayers bailed the Wall Street fat cats out of the housing market crash which they and only they created. Then these Wall street firms and big banks firms still had the gall to pay themselves big bonuses with taxpayer bailout money. Bonuses for FAILING basically.
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This is basically the creed being used by the wsb redditbros.
 
jim584672 said:
RH traders signed the customer agreement that gives RH the power to block GME, you have no case. Seriously you are all deluded.
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Deluded? Thanks for the personal attack. :angel: You should know that NOTHING is ever cut and dry when it comes to legal claims, otherwise there would be no courts. If the activity of RH was willful and wanton then they most certainly could have a claim.
 
I don't have a Robinhood account, so will have to ask: do they just block buying, or all trades altogether? Can you still sell GME?

The time to buy GME and these pumped stocks is past. If one wants to play this game, he should wait for the next order from the "leaders" to buy, buy, buy...

As I wrote earlier, I saw premarket trades for Koss being as high as $158. It's now $40. The chance for it to go back to the $4 price last week is a lot greater than for it to go back up to $158. It's a flash in the pan, and it's gone.
 
NW-Bound said:
I don't have a Robinhood account, so will have to ask: do they just block buying, or all trades altogether? Can you still sell GME?

The time to buy GME and these pumped stocks is past. If one wants to play this game, he should wait for the next order from the "leaders" to buy, buy, buy...

As I wrote earlier, I saw premarket trades for Koss being as high as $158. It's now $40. The chance for it to go back to the $4 price last week is a lot greater than for it to go back up to $158. It's a flash in the pan, and it's gone.
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They ,RH, locked down 6 equities, I posted the names in #160. By locked down I mean you can sell the the equities but not purchase. They did a similar move to the options.

You can still buy and sell at other brokers. I made a small buy of GME during the flash crash this morning and sold the rebound, quick $120 a share, in my Fidelity account. Some Redditors think the crash was used to unwind the worst shorts. I don't pretend to know.

ETA: I'm watching an interview with someone, JJ Kinahan, from Ameritrade who is talking about their restrictions. Sounds like margins are reduced and you can't sell naked calls.
 
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mickj said:
the article I read said that you can still sell
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MRG said:
They ,RH, locked down 6 equities, I posted the names in #160. By locked down I mean you can sell the the equities but not purchase. They did a similar move to the options.

You can still buy and sell at other brokers. I made a small buyof GME during the flash crash this morning and sold the rebound, quick $120 a share, in my Fidelity account. Some Redditors think the crash was used to unwind the worst shorts. I don't pretend to know.
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Not letting people buy at these high prices is like suicide prevention. You can only do so much to keep people from harming themselves. If I were Robinhood, I would just let them do as they wish.

One time when I traded a leveraged ETF at Schwab, they popped up a message saying that I could lose beaucoup money with that trade: "Do you know what the heck you are doin'?" I had to click on a button to acknowledge the risk before proceeding. I was somewhat irritated with that admonition.

PS. I guess at that time Schwab saw more than usual volumes for these risky ETFs. Perhaps the traders have all moved on to Robinhood. :)
 
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MRG said:
They ,RH, locked down 6 equities, I posted the names in #160. By locked down I mean you can sell the the equities but not purchase. They did a similar move to the options.

You can still buy and sell at other brokers. I made a small buy of GME during the flash crash this morning and sold the rebound, quick $120 a share, in my Fidelity account. Some Redditors think the crash was used to unwind the worst shorts. I don't pretend to know.

ETA: I'm watching an interview with someone, JJ Kinahan, from Ameritrade who is talking about their restrictions. Sounds like margins are reduced and you can't sell naked calls.
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Riddle me this, how do you sell a stock without a buyer on the other end?

As far as the lawsuit, stopping trading in a stock is one thing. Only allowing a sell is another thing.
 
ExFlyBoy5 said:
It's got nothing to do with the companies and what they do. They have used the screeners and figured out who has the biggest shorts, Block Buster (the liquidation company) was also in madness, but this wasn't reported on "The Nightly News."

That's another issue...so many of the "boomers" (their term, not mine) don't understand how they have selected the companies. The older folks see the Redditor's and think this is what they look like...it reminds me of the Geico commercial about not becoming your parents.



It's not just RH. There are several other brokerage houses that are being shown to shut down the buys, as well. You can bet there will be new regulations coming down the pike.
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It actually came from a 13f filing by Melvin Capital. Hedge funds do not have to disclose short positions but they must disclose options positions.
 
ivinsfan said:
Riddle me this, how do you sell a stock without a buyer on the other end?

As far as the lawsuit, stopping trading in a stock is one thing. Only allowing a sell is another thing.
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With 139% of the shares held short, there is always a buyer!
 
NYEXPAT said:
It actually came from a 13f filing by Melvin Capital. Hedge funds do not have to disclose short positions but they must disclose options positions.
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My point was that it was from publicly available information, not that they are "gamers" and that is why they selected GME.
 
Markola said:
“Hedge Funds: Come for the high fees, stay for the underperformance.”
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I imagine some of their investors are not going to be happy. They may lose money and take their remaining money elsewhere.
 
Markola said:
“Hedge Funds: Come for the high fees, stay for the underperformance.”
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Years ago people used to buy front end load funds with an upfront 8.5% fee. Terrible investment, yet they agreed to it. Same thing with Hedge Funds, some people like to pay for sub par, but they agreed to it so who is to argue about it.
 
When investors make money in the stock market it is capitalism at its best. When young savvy traders take the billion dollar hedge funds to school then the trading is limited and or stopped from some investors from making too much money. This is hypocrisy.
 
Off the rails. You're living in a fools paradise if you think the big guys are not playing the game already. Locking out the little guy is only the first step. Meanwhile I'm back at plodder land.
 
NYEXPAT said:
It actually came from a 13f filing by Melvin Capital. Hedge funds do not have to disclose short positions but they must disclose options positions.
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So how often is this filing disclosed? I heard the guy debating Scott Warner (?) on CNBC say transparency of short positions would level the playing field. I admit to not knowing much about these things but I believe they have a tendency to spill over and hurt everybody.
 
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