USA Chic talks about the Stock Market bad boys

[arista]

1354496683938201600


Avolon
maybe next time Write it all out
so you can speak less emotionally.

[James]

Article about what is happening -

"‘Dumb Money’ Is on GameStop, and It’s Beating Wall Street at Its Own Game

GameStop shares have soared 1,700 percent as millions of small investors, egged on by social media, employ a classic Wall Street tactic to put the squeeze — on Wall Street."

From https://www.nytimes.com/2021/01/27/business/gamestop-wall-street-bets.html

[Ammi]

...why is the lady so emotional/who is she...?...


....I don’t really fully understand Trading but never seems very ethical to me because businesses/companies are people’s lives and livelihoods ...as people’s lives are falling apart, others are cheering and walking on air with their ‘pay off’...I can’t get in board with any of it...

[Cherie]

Article about what is happening -

"‘Dumb Money’ Is on GameStop, and It’s Beating Wall Street at Its Own Game

GameStop shares have soared 1,700 percent as millions of small investors, egged on by social media, employ a classic Wall Street tactic to put the squeeze — on Wall Street."

From https://www.nytimes.com/2021/01/27/business/gamestop-wall-street-bets.html

My son put some money in this, might go belly up but he is enjoying the battle

[Cherie]

They have hedges round their houses :laugh:

[user104658]

...why is the lady so emotional/who is she...?...


Its a joke, she starts by saying she can explain it for "normal people" but then can't explain it well and it makes no sense (because stock market trading is convoluted nonsense).

[user104658]

My son put some money in this, might go belly up but he is enjoying the battleIt WILL go belly up, the gamble is in cashing out when the stock peaks to make maximum profit before it crashes.

The overall aim of the... Erm... "movement" is to destroy the hedge fund that was trying to make the stock worthless in the first place, and isn't actually about making money (they are willing to lose the investment for the cause).

The overall aim I guess is to make these unethical traders wary of playing such brazen games with stock shorting.

[arista]

...why is the lady so emotional/who is she...?...


....I don’t really fully understand Trading but never seems very ethical to me because businesses/companies are people’s lives and livelihoods ...as people’s lives are falling apart, others are cheering and walking on air with their ‘pay off’...I can’t get in board with any of it...


Ammi the Lady has Shares show owns
she has done acting and is a scriptwriter
and towards the end she gets emotional.

https://pbs.twimg.com/media/EsruvRpUUAALdpK?format=jpg&name=small

[arista]

Article about what is happening -

"‘Dumb Money’ Is on GameStop, and It’s Beating Wall Street at Its Own Game

GameStop shares have soared 1,700 percent as millions of small investors, egged on by social media, employ a classic Wall Street tactic to put the squeeze — on Wall Street."

From https://www.nytimes.com/2021/01/27/business/gamestop-wall-street-bets.html


Thank you James
for the Real Time story
that lady is talking about.

[arista]

Its a joke, she starts by saying she can explain it for "normal people" but then can't explain it well and it makes no sense (because stock market trading is convoluted nonsense).


Yes meaning the many that do not go into share buying,
like our Ammi.

[arista]

1348323727478378496

[Tom4784]

It's funny how quick the US government are to get involved in all of this, it's only the rich that can do such things, everyone else must know their place, it seems.

[arista]

[GameStop's three largest shareholders earn
over $2bn amid stock surge

Shares rise as video game retailer
is at the center of a frenzied duel
between Wall Street and small investors]

[Over the past two weeks, according to CNBC,
Cohen’s net worth increased an average
of $90m a day, or nearly $4m per hour,
as GameStop stock has surged
more than 1,550% this year alone.]


https://www.theguardian.com/business/2021/jan/27/gamestop-three-largest-shareholders-earn-over-2bn-amid-stock-surge

[Cherie]

It WILL go belly up, the gamble is in cashing out when the stock peaks to make maximum profit before it crashes.

The overall aim of the... Erm... "movement" is to destroy the hedge fund that was trying to make the stock worthless in the first place, and isn't actually about making money (they are willing to lose the investment for the cause).

The overall aim I guess is to make these unethical traders wary of playing such brazen games with stock shorting.

Depends when he cashes out, if he did it now he would be up, it’s more the principle for him and he knows he could lose it, I think because it is GameStop which is close to his heart as as a gamer as well that got him ‘invested’

[Tom4784]

I can only cheer them on, they're revealing an ugly truth about the stock market, and they're bleeding hedge funds while doing it. Eat the rich.

[user104658]

Depends when he cashes out, if he did it now he would be up, it’s more the principle for him and he knows he could lose it, I think because it is GameStop which is close to his heart as as a gamer as well that got him ‘invested’GameStop shouldn't be close to any real gamer's heart, they give people like £4 for a 2nd hand game and then sell it to someone else for £25 :suspect:.

[user104658]

I can only cheer them on, they're revealing an ugly truth about the stock market, and they're bleeding hedge funds while doing it. Eat the rich.Yeah I'm all for it in terms of it wrecking the confidence of the people who have been happy to manipulated markets for huge profit. Basically, they deliberately devalue stock that is falling, repeatedly... Because the lower they can get it, the more profit they can skim. On this occasion, they tried to get the stock to bust completely (be worth zero) so that they could make pure profit... But people noticed and ****ed it up for them.

I heard it described as the hedge fund managers "getting caught with their hand in the cookie jar" and I think that's quite apt. They've been badly burned for it...and that's a very good thing, because if they'd pulled it off once, they'd have kept doing it.

[arista]

1354872905167998982

[Shaun]

never seems very ethical to me because businesses/companies are people’s lives and livelihoods ...as people’s lives are falling apart, others are cheering and walking on air with their ‘pay off’...I can’t get in board with any of it...

sums things up for me, too

[arista]

https://pbs.twimg.com/media/Es2ycUaXYA02mzY?format=jpg&name=small

[arista]

Left Wing Political like Horrid Cortez
is talking about this.

AMC Cinema Shares have Shot UP
due to be shot down.

robinhood app is free to use
They Restricted Stock selling on Games stop.
all they could do is sell it.
A new Company that was not ready for this.


Ref: SkyNewsHD Live

[Crimson Dynamo]

now Reddit know they can do this

this will happen again

[arista]

1354937438980902929

[arista]

SkyNewsHD Live Business update
Citron Research has had to Halt.

Meanwhile
YouTuber 'Roaring Kitty'
has been one of the key
cheerleaders of the GameStock rally
https://i.dailymail.co.uk/1s/2021/01/27/20/38558242-9193697-image-m-26_1611777808356.jpg


https://i.dailymail.co.uk/1s/2021/01/28/00/38568606-9193697-image-a-15_1611794741991.jpg


[Reddit group that drove GameStop shares 1,700% higher
and cost Wall Street short-sellers billions briefly goes PRIVATE
and messaging platform Discord BANS their server for 'hate speech'
in the wake of SEC and White House 'monitoring'

GameStop shares rose another 130% on Wednesday
amid a Reddit buying frenzy
The struggling company runs a chain of video game
stores across the country
Group WallStreetBets is leading charge to
inflate stock and punish hedge funds
GameStop stock is up 1,700% since January 1 in run
that hurt short sellers
Hedge funds Citron and Melvin Capital likely
lost billions as the shares rose
But GameStop's three largest shareholders have
gained $3B in recent moves
They include board member Ryan Cohen,
whose shares are up more than $2B
GameStop CEO Geroge Sherman is up $500M
and investor Donald Foss $800M
TD Ameritrade instituted unprecedented
restrictions on GameStop stock
Wall Street investors express alarm
and say they have never seen anything like it
When the bubble collapses all of the
shareholder gains could be wiped out
Biden's press secretary says that his
team is 'monitoring the situation']


https://www.dailymail.co.uk/news/article-9193697/GameStops-three-largest-shareholders-gotten-3BILLION-richer-two-weeks.html

[arista]

https://www.bbc.co.uk/news/business-55843829

[GameStop: Meet the amateur traders fighting Wall Street
Until the start of the pandemic, it had never
occurred to Alex Patton that he could
become an amateur trader.
But now, in the wake of the GameStop shares frenzy,
he is something of an unlikely
veteran of the financial markets.

"Before Covid struck, I didn't know the
first thing about investing," says the
28-year-old railway cyber-security engineer,
of Kingston upon Thames, south-west London.

But after the stock market took a
bad tumble in March last year and dealt
his pension savings a blow, he decided that
he should, as he puts it,
"take a more active role in managing my money".

As a dual national with British and
American citizenship, he had no
difficulty in setting up an account
with US trading platform Robinhood,
which has found itself at the
centre of the GameStop furore.]


[Eighteen-year-old Myron Sakkas,
of Coventry, who is studying at Warwick University,
lost £30 on GameStop shares,
which he owned for "a couple of hours" and
sold when he saw what was happening.
He has had an account on the Trading 212 platform
since August last year and is hoping to go into
investment banking after he gets his degree.

But for now, he is disillusioned by what he sees as
"market manipulation" directed against people like him.
For him, there was a definite target in the GameStop
share wars: as he puts it,
"the people that were responsible
for [the financial crisis of] 2008
and were never held responsible".

"We understand that there are risks, but this wasn't
an actual crash. It was caused by people protecting
corporate interests and normal people lost again.]

[arista]

https://www.bbc.co.uk/news/business-55843829
same link from page 1.

[Melissa Holdren, a 43-year-old nurse who
lives in the US state of Massachusetts,
was so angry about the clampdown
by the trading platforms that it spurred
her to buy into one of the companies affected.

She used her account at Fidelity,
a major brokerage known for its
mutual funds, to purchase about $500
worth of shares in AMC Entertainment,
which like GameStop has had its
share purchases restricted by some brokerages.
It was a first for the 43-year-old nurse,
who has always relied on big companies
to manage her retirement investments for her.
"I find it very questionable that a
private corporation could one-way
block the purchases of stock," she says.
"It doesn't seem right.
If you're worried about market volatility
why are you only blocking one side of the transactions?"

Melissa, whose grandfather made his living as an
independent stock trader, says she knows she could
lose money if AMC's stock falls.
But she is hoping her small investment will help
the AMC movie theatre chain survive - while taking
a stand against Wall Street.
"In general we need to rethink a lot of our
financial structures," she says.
"After the 2008 crash... it became made it clear that
a lot of the financial market was divorced
from reality in a way that I don't think
is healthy", she said
"To be specifically concerned with what's going on
on Reddit right now and not be concerned
about that larger picture I think is specious."]

[bots]

market manipulation is illegal no matter who does it, whether it is a group of small individuals are large corporations

[Scarlett.]

now Reddit know they can do this

this will happen again

I hope so

[arista]

market manipulation is illegal no matter who does it, whether it is a group of small individuals are large corporations


Yes but it is going on
and fast.
Of course among these non-professional's
there are other Mischief Makers
who will bring down some Hedge Funds.
https://en.wikipedia.org/wiki/Hedge_fund


As from that BBC link, I posted today
they are not Professional traders
they give their justifications.

https://www.bbc.co.uk/news/business-55843829

[AnnieK]

I hope so

I heard the Reddit people are going to.move to Blackberry on Wednesday.

Its been great to watch this unfold

[Oliver_W]

All I think of when I hear GameStop is that crazy IT'S MAAM video from a couple of years ago :joker:

I don't think we have them in the UK? Unless Game is part of the same Umbrella..

[arista]

https://pbs.twimg.com/media/Es7064XW8AECfmR?format=jpg&name=small

[arista]

1355292071649796096

[Oliver_W]

I find it interesting how the Swamp is up in arms over this, and planning to(?) close the loopholes which were exploited ... When the megacorps and big banks screw everyone over that's A-Okay, but poor ordinary people find a way to do it and it's suddenly something which needs to be clamped down on.

Democrat Party, my foot.

[arista]

I find it interesting how the Swamp is up in arms over this, and planning to(?) close the loopholes which were exploited ... When the megacorps and big banks screw everyone over that's A-Okay, but poor ordinary people find a way to do it and it's suddenly something which needs to be clamped down on.

Democrat Party, my foot.



They are using Special Private Chat rooms and are Colluding


So Game Stop USA is UP
at this time

[Cherie]

They have made it very difficult to buy stock for now

[Cherie]

1355292071649796096

.

[Oliver_W]

1355292071649796096

I'm all for sticking it to the man. I'm not an edgy 12 year Old on Reddit so I'm not gonna unironically use the phrase "eat the rich" ... But that :joker:

[Scarlett.]

I find it interesting how the Swamp is up in arms over this, and planning to(?) close the loopholes which were exploited ... When the megacorps and big banks screw everyone over that's A-Okay, but poor ordinary people find a way to do it and it's suddenly something which needs to be clamped down on.

Democrat Party, my foot.

The Republicans would do the same, these politicians likely have money tied up in stonks too

[Oliver_W]

The Republicans would do the same, these politicians likely have money tied up in stonks too

Oh I don't doubt it. It's just the Dems are in charge now, and also the closest the USA has to a mainstream Left, and even then they're probably slightly to the right of our Tories...

[Scarlett.]

Oh I don't doubt it. It's just the Dems are in charge now, and also the closest the USA has to a mainstream Left, and even then they're probably slightly to the right of our Tories...

Indeed, it's always funny to hear the US thinks of the Dems as being super left wing. :laugh:

[Tom4784]

I'm all for sticking it to the man. I'm not an edgy 12 year Old on Reddit so I'm not gonna unironically use the phrase "eat the rich" ... But that :joker:

Are you really all for 'sticking it to the man' if you're gonna make out people who are actually doing their bit to drain these Hedge Funds as 'edge 12 year olds on Reddit?' Because that's how this started, on Reddit.

[arista]

Deep F...ing

Is one Unmasked in Boston Trader


https://i.redd.it/l1r20p3vshe61.png


This image Wording mix
is on Reddit.

[arista]

https://i.redd.it/sr2mnlsyaee61.jpg


Monday AMC USA
is halting share trading.

[Crimson Dynamo]

x3nh8IpYuc0

[Oliver_W]

Are you really all for 'sticking it to the man' if you're gonna make out people who are actually doing their bit to drain these Hedge Funds as 'edge 12 year olds on Reddit?' Because that's how this started, on Reddit.

I'm guessing said redditors are older than 12 though, and probably above such silly phrases.

ETA: The reason I see "eat the rich" as being silly and juvenile compared to "stick it to the man" is because The Man is government, huge megacorps, bankers, and so on. The rich is just people with a lot of money, be it people who worked really hard, or lottery winners, or simply inheritors :)

[user104658]

The rich is just people with a lot of money, be it people who worked really hard, or lottery winners, or simply inheritors :)

Or people who manipulate the stock market by shorting stocks :whistle:

This week has all but proven that hard work has little to do with it, and luck has little to do with it... Systems of wealth are a bad joke :shrug:.

[Ammi]

https://static.boredpanda.com/blog/wp-content/uploads/2021/01/hedge-funds-losing-billions-gamestop-stock-people-reactions-67-6013d44244f80__700.jpg

[Oliver_W]

Or people who manipulate the stock market by shorting stocks :whistle:


That too :joker: I don't think people fcking with the fatcats deserve to be eaten!

Ironically when I was looking at where to put some money in early winter, Big Game Shops were high on list, because I knew new consoles and high profile games were coming out, along with another lockdown I knew to be inevitable. I decided to put it elsewhere, for which I'm kicking myself :joker:

[arista]

1356342838682939398

[arista]

They have now got Silver
up way high.