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    Occupy wallstreet?

    What the heck is going in stock market? Is it Reddit group v/s Wallstreet? Or small stock holders v/s Hedge fund bankers?

    Gamestop is sky high.

    Robinhood has banned everyone from buying it anymore. They can only sell

    #2
    Clearly a havoc. But we are still a capatalist society. You cant win against Wallstreet giants. Everything will die down soon
    Attitude is more important than facts.
    "Life is 10% what happens to us..and 90% of how we react to it"

    Comment


      #3
      Its David vs. Goliath of the 21st Century.

      Basically, a bunch of rebellious redditors from r/Wallstreetbets, have short-squeezed a few really large hedge-funds. More than $30b in losses due to their short positions going long. It was hilarious, a bunch of really wealthy people looking at each other going wtf just happened.

      I've been having a blast these past few days. Closed a few positions, but yeah I am still all in. Wish I could invest more, but in the last 48 hours or so, a lot of platforms were either not allowing you to buy stocks like GME, AMC, Nokia & BB or had temporarily suspended all trading.

      On a serious note; this has all the hallmarks of being a very dangerous bubble.
      "Some people believe that necessity is the mother of Invention, but they're wrong, its War" - James May

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        #4
        What is happening is fricking brilliant. I hope they hold out until Monday and really squeeze these hedge fund morons. Although I wouldn't be surprised if the idiots get bailed out though as usual :/ Still huge props to the movement.
        Anything worth doing is worth doing well.

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          #5
          During COVID canadian billionaires net worth went up by 30 percent, the rich own us and will eventually find a way to take it all. I did know of a girl frm Hong Kong whose ex was involved with a group in stock manipulation and he made her a multi millionaire with a 7k initial investment. Money is not the only measure of success and it ends up destroying lives, we need to focus more on health and relationships.

          We need someone like AOC to improve income distribution, the day will come.

          Comment


            #6
            Originally posted by aqua70 View Post
            What is happening is fricking brilliant. I hope they hold out until Monday and really squeeze these hedge fund morons. Although I wouldn't be surprised if the idiots get bailed out though as usual :/ Still huge props to the movement.
            Couldn't agree more. If these a-holes can manipulate the market and get away with it, then why can't we? They say that we are artificially inflating the price of stocks. I am sure that beats betting against a company with more than 25k employees who's jobs were on the line.
            "Some people believe that necessity is the mother of Invention, but they're wrong, its War" - James May

            Comment


            • aqua70
              aqua70 commented
              Editing a comment
              Yea! Sadly, it blew over though. I kinda knew these psychopaths would manipulate the market in their favor eventually. I feel bad for the common people who lost money in this.

            #7
            A simple and direct explanation of the Game Stop saga
            https://mises.org/wire/gamestop-mark...-manipulations

            The root cause was not market manipulation by one group or the other. The root cause was irresponsible risky decisions made by the hedge funds which the redditors caught on to and exploited. Basically, the hedge funds left their short positions uncovered (to increase their profits) and redditors realized that by looking at the volume of shorts vs longs. Such risky decisions are characteristic of an easy money environment created by the govt by suppressing interest rates and pumping stimulus money into the economy.

            Comment


              #8
              https://www.youtube.com/watch?v=gUWz6-ypQM0

              GAMESTOP DRAMA, EXPLAINED (with Pokémon cards)

              A fantastic video by Johnny Harris.
              "Some people believe that necessity is the mother of Invention, but they're wrong, its War" - James May

              Comment


                #9
                Looks like this bubble is also busted

                I miss the expert opinion of Southie and queer on finances..
                Attitude is more important than facts.
                "Life is 10% what happens to us..and 90% of how we react to it"

                Comment


                  #10
                  Originally posted by aqua70 View Post
                  What is happening is fricking brilliant. I hope they hold out until Monday and really squeeze these hedge fund morons. Although I wouldn't be surprised if the idiots get bailed out though as usual :/ Still huge props to the movement.
                  whats brilliant is the unity shown by the penny holders against the giants. And now they are bearing all the loss the way it was supposed to happen

                  Comment


                    #11
                    Originally posted by Gothamist View Post

                    whats brilliant is the unity shown by the penny holders against the giants. And now they are bearing all the loss the way it was supposed to happen
                    Indeed. They call themselves the R word for a reason! Quite admirable really.
                    Anything worth doing is worth doing well.

                    Comment


                      #12
                      And just like that, the movement has died. Robinhood is still thriving. As someone said its name should be "robbing the hood"

                      Comment


                        #13
                        Originally posted by Gothamist View Post
                        And just like that, the movement has died. Robinhood is still thriving. As someone said its name should be "robbing the hood"
                        Eventually when income disparity and oppression exceed limits there is a big sudden change, how does anyone explain Bezos making 90 Billion in one year. Eventually the system has to be changed for better distribution of wealth. People like OAC is the answer, I think Biden is a corporate plant.

                        Comment


                          #14
                          Originally posted by Gothamist View Post
                          And just like that, the movement has died. Robinhood is still thriving. As someone said its name should be "robbing the hood"
                          This is what happens when retail investors try to take up a fight with wall street, finite vs. infinite resources.

                          Some poor souls on r/WallStreetBets bought their way in to $GME with their life savings, when Gamestop stock was trading at $400+ a share. I've seen screenshots of losses totaling more than a million dollars.

                          I will never understand why people put money into a stock which is already at its all time high, and in the case of $GME, several times over.
                          "Some people believe that necessity is the mother of Invention, but they're wrong, its War" - James May

                          Comment


                            #15
                            Originally posted by a7mado View Post

                            This is what happens when retail investors try to take up a fight with wall street, finite vs. infinite resources.

                            Some poor souls on r/WallStreetBets bought their way in to $GME with their life savings, when Gamestop stock was trading at $400+ a share. I've seen screenshots of losses totaling more than a million dollars.

                            I will never understand why people put money into a stock which is already at its all time high, and in the case of $GME, several times over.
                            I agree it was fun for the audience and those who could afford the losses. But what about those who couldnt?

                            It was a bubble and the bad thing about bubbles is that when they burst people die

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