Yeah, remember the Tea Party was started by one of these colossal assholes.
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Wait, that’s a thing?!
ETA: Sheesh, guess so…
P.S.:
I had to take the car in for svc. today, and walked over to what was once a fairly big, bustling mall. Currently there’s 1 anchor store; there used to be 4. Most of what’s left are one-off stores (not chains).
There was a very long line of cars orbiting the mall’s (mostly empty) parking lot, though, so I have to guess they’re doing Covid tests or some such.
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Sure…why not? Shorting is a side-bet. You don’t have to own the stock to bet on it’s rise or fall. Only when you get a margin call do you have to cover your position.
People can bet on all sorts of things as long as there is someone on the other side.
You don’t have to live in KC or Tampa to bet on the outcome of the Super Bowl.
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Well at least that’s something. During the recession I threw some money at a gold ETF. 10 or 12 years later, it’s finally no longer a loss.
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A better motto is: Don’t gamble with money you can’t afford to loose - and the stock market is gambling.
This is not investment advice.
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I have a hard time getting my head around these things. Now I’m trying to evaluate retirement strategies and I have to constantly remind myself that the dollar isn’t a fixed unit of measurement like a gram or a football field.
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I realize this is semantics plus it depends on the card game, but that’s not really gambling in my state.
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It looks like WSB might have actually saved AMC? The run on their stock enabled them to eliminate $600m in debts by converting bonds at a favorable amount per share.
From this article, which is not OneBoxing properly…
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Not sure who is still hanging around, but more interesting games were played today:
Someone check my math here…
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Robinhood sent out an email last night telling people with options that expire on Friday that they would be taking it upon themselves to sell if you didn’t have enough cash in the account to exercise the option (having sent that email out late enough that no one can make bank transfers in time to cover). [background: a call option entitles you to buy 100 shares of stock at the price you specify]
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Now they know people that hold GME have to sell their other stocks if they want to raise money to exercise options… oddly they know which stocks those are… so,
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They also then today restricted trading on BB, BBBY, NOK, AMC, and NAKD (the top 5 stocks owned by robinhood users that also held GME). Which also now all fall in price since no one on RH can buy more shares.
*As an exercise for the reader, who else did Robinhood tell about their plans before sending emails/restricting trading?
And the way we know that this isn’t market manipulation is because it wasn’t done by retail investors?
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Robinhood is toast, then.
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Finished. The brand is now toxic, its promise completely betrayed.
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Splatoon-themed restaurant and animal shelter. Destructible built environment themed cleaning and organizing shop. VR event spaces (200% vaccine dist. later?) Tetris Edit-Your-Own-Dallas-Post edition. Daily Mail 3D Evidence Printing. Shitposting Colleges™ of Journalism. Art schools where you repurpose old 1K displays for reading material. Edgelord ‘Sports’ Supply. Weighted game controllers.
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That’s what I thought after the Robinhood platform crashed multiple times during the market dips of early 2020, causing many redditors to complain that they lost tens of thousands of dollars. Who would still use such an unreliable broker? /r/wallstreetbets would 
To be fair, other brokers restricted trading of GameStop today as well. Another great reason to avoid options and other types of speculative trading.
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The whole events of the day make me wonder if maybe the citizen trader thing isn’t just tolerated because of how few people actually do it. Would they even allow the working masses to move in?
What if it threatened to become normal for the average person? Would they block particular stocks dynamically through the day? Or would they just lobby Congress to require a velvet-rope license for buying and selling stocks and cut us out altogether?
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The shorts are already out by now so this is the inflection point where it goes from short squeeze opportunity to “everyone’s lost their minds” bubble. By the time you read about these things on the front page it’s already a car crash happening in slow motion.
Did you say this before or after the Chairman of the largest electronic trading platform in the US incriminated himself on CNBC saying they halted the trading of the stock because it was hurting them and that he wouldn’t let people trade it until it gets to the price he thinks it should be. That would be $15.
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I guess it is great though, these billionaire types wanting things to cost what they are really worth, vs perceived speculative value. Let’s all get together next week and talk about pharmaceutical prices, k?
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Enh, I’m pretty sure the people who run it still get their paychecks this year and probably get a new one next year. I doubt it makes a big difference to them.
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Not when their “product” (i.e. the users who provide the data stream they sell to their real customer) deserts the app en masse, which is already happening. I doubt any other brokerage would even buy the brand name, let alone the business.
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I just think they had a good scam and now its on to the next one.
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Oh, that’s for sure. The founders will doubtless also benefit from the “glass floor” effect and be rewarded for their failure with job offers and/or investment capital.
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