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But it is going to go on for quite some time. Everyone has to sue each other and that will create headlines. And then when the dirt comes out, more headiness. And finally, when they all settle, more headlines.
RH did what they had to do to protect/save their firm. They needed capital, and their hedge fund parent put in the capital if they agreed to stop allowing retail traders to do certain things.
GME? That whole saga is interesting. A bunch of RH retail customers got together and colluded to drive the price UP to press the shorts. That is highly illegal behavior. These guys will get crushed in the price collapse.
And the professional shorts in GME might be wounded, but they won't be thwarted if their fundamental work is correct.
The hedge fund guys, who also colluded in highly illegal behavior to be short the shares of GME because they heard that "smart money" was short the stock got killed this week in the squeeze. One need not cry over their stupidity in trading a situation because "everyone" else was doing it. Dumb money.
Citidel, who trades through RH, will not let RH go bust. In essence, the retail guys are paying the firms expenses by trading through it, while Citadel gets the benefits of, in essence, no cost executions.
So, you can see that this charade is going to go on for a LONG time while it gets sorted out. Throw in the politicians and how they are getting money skimmed off from the whole situation and you can imagine the book/movie which will come from this.
Or do you want to talk about Covid some more???
I fail to see how what Roaring Kitty and his followers did to drive the price up was illegal. How is this different from a newsletter or large brokerages recommending certain stocks and their followers buying, potentially resulting in a rise in stock price?
I fail to see how what Roaring Kitty and his followers did to drive the price up was illegal. How is this different from a newsletter recommending certain stocks and their followers buying?
If what he did was illegal then C-D needs to shut down the share your trades thread immediately.
I fail to see how what Roaring Kitty and his followers did to drive the price up was illegal. How is this different from a newsletter or large brokerages recommending certain stocks and their followers buying, potentially resulting in a rise in stock price?
Quote:
Originally Posted by 1insider
If what he did was illegal then C-D needs to shut down the share your trades thread immediately.
It doesn’t have to be illegal and most on CD aren’t bound by finras over site. If he has an issue that’s where it would be
It all started when we can spend as much time online for a fixed monthly fee-there was Ebay bidding and getting outbidded and bid again,ended with drawerfull of so called collectibles.
There is chat room where people chat ,then there is forum for talking stocks,now there are streaming,uploading films,there are apps for this and for that,so it is natural with everyone staying home,why not play a new form of video game and make some money at the same time.
You should see it coming,we can play retailer,we can play taxi driver,so why not day trader?
What millennials are doing on the market using apps is not investing. It's more like fantasy sports. You'll never get rich playing fantasy sports.
A very few do get rich playing fantasy sports. Of course, the vast majority lose big. That's where the winner's winnings are coming from, after all.
Far too many people, wanting to get rich quick, see the rare winners and ignore the far more abundant losers. That's true for sports betting, the lottery, and short-term trading on the stock market. You know that old saying about a fool and his money...
The big winners in the GameStop short squeeze got in early, and have already cashed out. The ones who are left are either angry enough to throw away some money in order to make a point, or suckers. I hope it's mostly the former, but I do fear too many are the latter.
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