The Wall Street Bets phenomenon is changing markets

ZM a small Chinese companies shares jumped 80% last year, when people tried to jump on Zoom bandwagon. Been spewing because STAKE platform has been in melt down for the last 2 days because of unprecedented use much of it from Game stopper buyers and now people are taliking about sueing them. Still cant transfer funds to them now and missed out on yesterdays opportunities.

 

This comment sounds like someone missed out...........and is mad.

 

Did you end up selling yesterday?

 

This is how something like this can impact markets in a broader fashion. A butterfly flaps it wings on a Reddit board ...

Robinhood Raises $1 Billion in Dash for Cash After Trader Revolt

"But within minutes, a shock wave invisible to the outside world rattled the mechanics of Wall Street -- sending Robinhood rushing for more than $1 billion of additional cash. The stock market’s central clearing hub had demanded large sums of collateral from brokerages including Robinhood that for weeks had facilitated spectacular jumps in shares such as GameStop Corp."

"A spokesman for the DTCC wouldn’t specify how much it required from specific firms but said that by the end of the day industrywide collateral requirements jumped to $33.5 billion, up from $26 billion."

Source: Robinhood Raises $1 Billion in Dash for Cash After Trader Revolt - Bloomberg

 

I did 1450 units gone and holding 50 just in case it does hit $1000 plus....

Donated 10k charity ...new boat , jet ski & a ranger

 

they are always trying to distort the market

this time it ISN'T some niche fund manger in his three room office

it is retail investors using the same tactics as the most predatory of fund managers ( against predatory fund managers )

colluding to distort the market .. let's see there was silver , LIBOR , probably dozens of others , just not on a relatively public social media site by minnow investors ALL perfectly legal give or take a bit of co-operation between participants ( whereas the short-sellers were using emails to do their synchronization ..)

apart from bringing Reddit into the headlines what was so different , was it the sharks being blown up by the sardines, perhaps

 

wait until an experienced ( well-connected , apparently ) short-sold a share and made a ticker code error ( Dow Jones news feeds regularly make the same error on the pair of stocks )

unluckily for the hapless trader it was a very illiquid share that i bought ( might only traded twice that year )

luckily when you are one of the very few holders in Australia i wasn't excessively greedy but i did sell them back for a profit ( because if you buy such rarely traded stocks you normally plan to keep them forever )

now i am GUESSING the ticker code error resulted in a naked short sale ( since last year was an incredibly busy year when roughly 20,000 shares changed hands for the whole year )

 

No, no did well actually

 

i invested no money , but have derived some valuable extra education

( i buy with a view of very long term , but if i can time that entry-point better .. those future gains mount up )

for example the threatened silver price ( and silver miners ) squeeze may ( or may not ) present an entry opportunity

but watch out for future rule changes .. can have equality in market manipulation can we

 

A Massachusetts man who goes by “Roaring Kitty” on social media helped fuel the frenzy around GameStop. His $53,000 investment in the company briefly reached $48 million in value.

The ‘Roaring Kitty’ Rally: How a Reddit User and His Friends Roiled the Markets

 

Also known as u/DeepXXXXXValue on Reddit.

This actually started as a pretty decent deep value play.

 

What I thought was funny, on local radio they had regular segment/talkback discussing finance/Stockmarket/realestate.

The “expert” spent some time explaining the GameStop story, shorting stocks etc.

Very next question was caller asking for explanation on ASX GME stock, and why it had gone up today. “Expert” had no idea what he was talking about.

Mate, really?

 

His name is Keith Gill and he was doxxed by CNBC. He's a deep value investor and his YouTube channel is roaring kitty. More info here..

https://www.reddit.com/r/technology...stop/?utm_medium=android_app&utm_source=share

 

Robbing the hood?

 

Meet Ryan Cohen, The Guy Who Bought 9 Million Shares Of GameStop When The Stock Was At $8

In August 2020, the 35 year old Cohen was forced to make an SEC filing. He was forced to do so because he had been acquiring shares in the mall video game retailer GameStop and his position had gotten so large, it triggered a required SEC disclosure.

The size of his position? 9 million shares.

He spent an average of $8 to acquire his stake which constitutes roughly 10% of the company. In total Ryan spent $76 million piecing together his 9 million shares.

In November Ryan posted a public letter to GameStop's board of directors that blasted the company's performance. At the time the company's share price was around $10. Five years earlier, the share price was around $30.

GameStop ended Thursday at $193. At that level, Ryan's stake is worth $1.74 billion.

 

Really curious what is going to happen on Monday.
Looks like the reddit army is going at it again, but I can’t help think about the crypto pump and dumps.
We’ll see I guess but it’s quite enjoyable seeing the suits sweat

 

And the Robinhood fiasco will play in favour of Defi I reckon.

 

Well done & well deserved!!

 

I jumped on amc at $7 bucks...just got an email from Ig markets no more buying allowed for amc and gme.

 

I'd love to see screenshots