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The WSB memes are gold tbh, but knowing this thing will end with at least a few people Cobain-ing themselves after losing their life savings is pretty ty.
What an asshole, he should get sued for that. Knowingly giving people with little to no wealth bad investment advice because he thinks it’s funny to see the hedge funds get triggered.Mark Cuban did an AMA on WSB this morning and told them to hold.
The WSB memes are gold tbh, but knowing this thing will end with at least a few people Cobain-ing themselves after losing their life savings is pretty ty.
Yeah...that is stupid advice. The only way to realize a profit is to sell. At some point, there's going to be a lot of little guys holding the bag.
Pretty sure there are plenty of bagholders already.
I just hope this whole fiasco hasn't caused the youth of the nation to lose faith in our benevolent Wall Street overlords.
No doubt. I'd be interested to know the average investment by the Reditt group. If it's a bunch of $100 small lots, they may not give a about any loss.
I doubt that the large majority don't even think about that. My guess is that it's just easy gambling. No different than throwing away a few bucks on DraftKings every night.
its definitely getting the youth to start believing/understanding that the game is somewhat fixed, but imo for the wrong reasons or through misinfo (at least so far)
Bend over, I'll in' hold your bag.
Better buy some Ronald McDonald hands.
Huh. Clowns don't have really big hands.
You better buy these hands
The Gamestop surge was started by Reddit and retail buyers, but at some point it became big money vs big money - the mistake the Reddit crowd made was to think that all price movement was based on them and the hedge funds trying to cover their shorts
At some point BlackRock and the big boys started exiting. Some of these trades might have happened in so-called "dark pools". Also it's undeniable that many retail investors were also exiting even as wsb was calling everyone to hold. A meme can't get millions of people to behave like a hive mind.
that dip Barstool guy lost $700K and tapped out, and now everyone’s calling him a pussy for selling.
closed at 90 today. everybody who bought and held since monday has already lost money. pump and dump/ponzi scheme worked. all under the guise of "taking on the billionaires"
"No brainer"
Portnoy or someone else?
Had ridden my initial gme investment from 39 to 310 and made a decent profit. Guess what? I just put in half of that money back into gme at an avg of 103. To the ing moon... or the soup line.
start from 18:00 for the meat and potatoes
Yeah Portnoyand just a couple days ago he was doing all the Diamond Hands/Hold The Line/I’m Not in Leavin memes
Why buy again? Are the shorts back over 100% or something? People ain't wrong to be shorting that company.
imagine the people who shorted it at $300+
Buy high, sell low was pretty much the tag line of wsb b4 it blew up last week. This guy is doing it right, tbh.Yeah Portnoy
It's still heavily shorted, with high interest and the volume is steadily decreasing. And they will no longer be able to double down on shorting, as NYSE has put gme on short sale restriction list.
So yeah, there still some more juiced to be squeezed out here. Just gotta diamond hands this .
https://www.nakedcapitalism.com/2021...hs-busted.htmlAnd the hedge fund industry has been shrinking for the last six years as investors have been walking away from their high fees and mediocre returns. CalPERS renunciation of hedge funds in 2014 did vastly more damage to the industry than these shorts did by making it OK for big fiduciaries to just say no.
ROBINHOOD IS A PERFECT EXAMPLE OF FINTECH’S INSIDIOUS POWER
Robinhood itself makes money by selling data on users’ trades to giant Wall Street firms,
who then stake their own positions based off what the little guy is up to.
The Securities and Exchange Commission also charged Robinhood last month for offering bad trading prices to unsuspecting users,
since those trades were routed through firms paying Robinhood.
If true, Robinhood’s users were effectively paying a premium on their trades, despite the app marketing itself as “commission free.”
much like traditional Wall Street and Big Tech firms before it, fintech is building an echo chamber of industry voices and former regulators to ease oversight and permit its predatory practices.
Left to their own devices, fintech firms could
swindle average people through ill-advised day-trading or high-interest loans,
usher new systemic risks into the financial system, and
develop traceable, privately owned currencies with the potential to replace cash.
American financial law vastly predates the digital era and is often ill-suited to describing online financial activity.
And plenty of fintech firms design themselves to deliberately evade falling under any legal classifications and the regulations that follow them.
https://theintercept.com/2021/01/31/fintech-biden-nominees-robinhood
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