The Wall Street Bets phenomenon is changing markets

Discussion in 'Sharemarket News & Market Analysis' started by TickerHound, 27th Jan, 2021.

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  1. unicorntears

    unicorntears Well-Known Member

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    2wef8tc062e61.png
     
    unicorntears, 29th Jan, 2021
    #21
  2. Trainee

    Trainee Well-Known Member

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    And look at it 6 hours later......
     
    Trainee, 29th Jan, 2021
    #22
  3. Momentum

    Momentum Well-Known Member

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    Robinhood is being reported to the SEC for market manipulation and collusion with short sellers
     
    Momentum, 29th Jan, 2021
    #23
    Codie, number 5 and MangoMadness like this.
  4. The Falcon

    The Falcon Well-Known Member

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    Very interesting caper this...best show in town!
     
    The Falcon, 29th Jan, 2021
    #24
    Phineas, Pier1, number 5 and 3 others like this.
  5. Simon Hampel

    Simon Hampel Founder Staff Member

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    Class action against Robinhood for damages:

    Robinhood Faces Class-Action Lawsuit for Blocking GameStop Stock Buys

    A Massachusetts-based user files a class-action lawsuit calling on the court to demand Robinhood pay damages to affected users and reinstate GameStop on the stock-trading platform.
    ​
    The SEC acting to protect the hedge funds is only going to make this worse.
     
    Simon Hampel, 29th Jan, 2021
    #25
    MangoMadness, mdk and Empire like this.
  6. Hetty

    Hetty Well-Known Member

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    Interesting stuff! Could this happen with the ASX (to a smaller degree of course) or is it a US thing?
     
    Hetty, 29th Jan, 2021
    #26
  7. Empire

    Empire Well-Known Member

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    Robinhood could either loose a lot of their retail investors if they place restrictions on purchases.
    At the same time they could loose a lot of hedge/investment firms if they keep letting their retail investors wipe them out.
     
    Empire, 29th Jan, 2021
    #27
  8. Trainee

    Trainee Well-Known Member

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    Who is the customer, and what is the product?
     
    Trainee, 29th Jan, 2021
    #28
  9. unicorntears

    unicorntears Well-Known Member

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    unicorntears, 29th Jan, 2021
    #29
  10. Momentum

    Momentum Well-Known Member

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    Some retreads have been jumping in..

    [​IMG]

    And now it's been suspended :D

    [​IMG]
     
    Momentum, 29th Jan, 2021
    #30
    Empire, MangoMadness and Hetty like this.
  11. Piston_Broke

    Piston_Broke Well-Known Member

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    Revenge Of The Nerds!
    Gamergate strikes again!

    And my new fav meme
    2gl5qza4yrd61.png
     
    Piston_Broke, 29th Jan, 2021
    #31
    2FAST4U, Blueskies, Redwing and 1 other person like this.
  12. Casteller

    Casteller Well-Known Member

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    People buying after it took off to hurt the hedge funds are like kamikaze pilots, most of them will go down in flames as well. Only a few that got in and out fast will make profits.

    Hasn´t been suspended on the Nasdaq yet, only some brokers stopped opening new positions, can still close.
     
    Casteller, 29th Jan, 2021
    #32
    Rugrat likes this.
  13. Szbrown

    Szbrown Active Member

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    This prompts the question, if a financial crisis occurred what’s to prevent the rules being changed to benefit institutions?

    An index fund manager or broker may just choose to act illegally and wear the cost of the class action lawsuit, the potential fines may be less expensive than fulfilling their orders.

    It doesn’t give me much faith in being a retail investor in stock markets...
     
    Szbrown, 29th Jan, 2021
    #33
  14. Piston_Broke

    Piston_Broke Well-Known Member

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    And here he is on a video explaining his crazy trade.



    They have done it many times over the years, won't be stopping now.
    And all your fav investors like Dalio and Buffet took part in it.
     
    Piston_Broke, 29th Jan, 2021
    #34
  15. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Westminster, 29th Jan, 2021
    #35
    Hetty likes this.
  16. Trainee

    Trainee Well-Known Member

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    Nothing, really. Countries (including the US) have banned forms of short selling of some or all shares before.

    they can close stock exchanges.
     
    Trainee, 29th Jan, 2021
    #36
  17. Hetty

    Hetty Well-Known Member

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    Hetty, 29th Jan, 2021
    #37
  18. Anthony416

    Anthony416 Well-Known Member

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    Dumb and dumber........this story just keeps on giving.........more popcorn needed.
     
    Anthony416, 29th Jan, 2021
    #38
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  19. MangoMadness

    MangoMadness Well-Known Member

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    MangoMadness, 29th Jan, 2021
    #39
  20. TickerHound

    TickerHound Well-Known Member

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    The short squeeze in GME briefly made it the largest company in the Russel 2000 yesterday.

    Some history of short squeezes -

    1) The Panic of 1901, which was the first crash of the New York Stock Exchange, was caused by a fight for Northern Pacific Rail that ignited a squeeze: Jacob Schiff And The Northern Pacific Corner | AMERICAN HERITAGE

    2) Piggly Wiggly in 1923: Piggly Wiggly Short Squeeze in 1923 | Markman Capital Insight
    3) And more recently Porsche squeezing Volkswagen in 2008: Porsche reinvents the short squeeze (Published 2008)
     
    Last edited: 29th Jan, 2021
    TickerHound, 29th Jan, 2021
    #40
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