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So now Google is deleting all the negative reviews of the Robinhood app on the Play Store platform.
Are those who cheered the de-platforming of Parler concerned about the institutional power of Big Tech yet, or will they need rig the system against a heterodox target you favor before you'll take notice?
I don't know if they're liberals but they definitely vote Democat these days. They don't care about the politics, they just know who's more willing to protect their institutional power.
since this is in POC, I hope people won't remember whether they disagree with your politics and dismiss this post.
The left are haters, first and last. AOC made comments siding with the Reddit guys, and against Wall Street, and as soon as Sen. Cruz agreed with her, she goes off the deep end and claims he tried to murder her, and she does not want to work with him on this issue.
"I am happy to work with Republicans on this issue where there’s common ground, but you almost had me murdered 3 weeks ago so you can sit this one out," AOC wrote on Twitter.
"Happy to work w/ almost any other GOP that aren’t trying to get me killed.
"In the meantime if you want to help, you can resign."
The Democrat left are insane, and they just want to push hate, there will never be any unity with these people. Unity to them is you shut up, and get out of their way. If you ever disagreed with them ideologically, they want to ban your speech, ban your actions; they want you to cease to exist.
To be fair, I disagree with AOC, Cruz, et all on this. I think the online stock brokerages are right to pause trading a stock that shot up. Not because of investors thinking GameStop would be a stock to surge. Not because of a good earnings report that came out. No, because they want to short the stock of a company that became a penny stock. The stock price of GameStop is inflated over 10, perhaps 20 times the actual value of the stock. All because it is a highly demanded penny stock to short.
As for what was said to Cruz, she's right. Cruz was yet another Republican who continue to bootlick Trump and continue to the fake idea that the election was taken by fraud. Cruz said it was a time to act like 1776 during his Georgia stump speech for the Senate run-off elections the weekend before. Now I know many on here mocking AOC for her comments wish she would have gotten caught by the riotters. This is either quietly or rather vocally.
So now Google is deleting all the negative reviews of the Robinhood app on the Play Store platform.
Are those who cheered the de-platforming of Parler concerned about the institutional power of Big Tech yet, or will they need rig the system against a heterodox target you favor before you'll take notice?
It doesn't surprise me. They often do things like this.
I posted a negative review on a doctor years ago who nearly killed me. He refused to treat me and was going to let me die. Google removed it even though I could prove it to be true.
There's been other things like that over the years. Google doesn't like when someone leaves a negative review.
Leftists have for the most part been blissfully unaware that what they support in actuality is the agenda of the establishment globalist elites. In this moment, some of them are prematurely aligning themselves with the little guys.
It will be interesting to see if these people maintain their support for these little guys against the establishment elites, once the full propaganda campaign by the leftist establishment is rolled out against the little guys and in support of the establishment connected hedge fund compsnies, trading companies, cloud server hosting companies, etc.
I suspect many of them will change their tunes, right here in this forum for all to see. I hope I am wrong, but we will see.
And there you have it (that didn't take long):
Quote:
Originally Posted by mkpunk
I think the online stock brokerages are right to pause trading a stock that shot up. .
To be fair, I disagree with AOC, Cruz, et all on this. I think the online stock brokerages are right to pause trading a stock that shot up. Not because of investors thinking GameStop would be a stock to surge. Not because of a good earnings report that came out. No, because they want to short the stock of a company that became a penny stock. The stock price of GameStop is inflated over 10, perhaps 20 times the actual value of the stock. All because it is a highly demanded penny stock to short.
Uh, the hedge funds that held the short positions were still allowed to buy and sell the stock freely. It's the people who were BLOWING UP their mega-leveraged short positions by going long who were put in time-out, because the "wrong" side of the ledger was winning the bet. Their position was every bit as legit as the short-sellers if not more so.
To be fair, I disagree with AOC, Cruz, et all on this. I think the online stock brokerages are right to pause trading a stock that shot up. Not because of investors thinking GameStop would be a stock to surge. Not because of a good earnings report that came out. No, because they want to short the stock of a company that became a penny stock. The stock price of GameStop is inflated over 10, perhaps 20 times the actual value of the stock. All because it is a highly demanded penny stock to short.
As for what was said to Cruz, she's right. Cruz was yet another Republican who continue to bootlick Trump and continue to the fake idea that the election was taken by fraud. Cruz said it was a time to act like 1776 during his Georgia stump speech for the Senate run-off elections the weekend before. Now I know many on here mocking AOC for her comments wish she would have gotten caught by the riotters. This is either quietly or rather vocally.
The value of something is what someone will pay for it.
And who is this entity that values it that you are referring to?
And, you think they had the right to stop trading, because the hedge funds were losing money? Do you think you, I or the other rank and file in the world would be given such consideration?
Edit, and as the poster above mentioned, the hedge funds were still allowed to trade.
Remember when Amazon shut down Parler's servers, inferring that Parler was partially responsible for spreading hate and causing the riot at the capital. Looks like Facebook and Twitter should have been the ones taken down over the riot, not Parler.
The takedown of Parler was purportedly based on its unique role in fomenting hate online relating to its alleged outsize role in the events at the Capitol on January 6th. Having spent a couple days weeding through the DOJ’s published arrest reports, I found little mention of Parler, but plenty of alleged criminal conduct referencing Facebook, YouTube, and Twitter, in the charging document.
Of the 19 DOJ press releases published to date, including the attached affidavits and other documents where applicable, regarding the persons charged for involvement in the Capitol Hill riots, there are multiple and lengthy references to Facebook, YouTube, and Twitter. This is not an exhaustive listing of the reported 170+ arrests made thus far; this post reflects only those materials the DOJ has made available at the time of this writing.
Parler is mentioned in only two, with Facebook references far dwarfing the Parler references in one and the other being an unprofessional, ideological rant against Parler. Five do not mention any of these sites (see here, here, here, here, and here).
A little-known intermediary in the process of buying and selling equities forced Robinhood and other brokers to restrict trading in several securities on Thursday, including GameStop, AMC Entertainment, BlackBerry, and Nokia. All have been swept up in the WallStreetBets-fueled short-squeeze phenomenon and have seen intense volatility in recent days.
Theories abounded online about Robinhood—a mobile-first, low-cost brokerage founded on the idea of expanding access to trading to more people—being in league with the “men in suits” at hedge funds on the losing side of those trades. Politicians on Twitter from across the political spectrum condemned the broker’s move. But Robinhood’s provided reason that it needed to restrict trading in those stocks until it could increase its collateral with the Depository Trust & Clearing Corporation, or DTCC, holds water.
Explaining that requires getting into a bit of market plumbing and elements of the trading process that usually don’t get much attention.
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When an investor orders their broker—Robinhood or E*Trade, for example—to buy or sell a security, the broker accepts the trade and sends it to an exchange like the New York Stock Exchange or the Nasdaq. The exchange then matches buyers with sellers, and from the investor’s perspective, the transaction is as good as done. But there are still some mechanics that need to be worked out behind the scenes.
GameStop(GME / NYSE)Source: FactSet
Jan. 25Jan. 290100200300400$500
Investors may have noticed that the cash proceeds from selling a stock aren’t immediately available to withdraw from their account after a trade is completed—that usually takes a business day or two. Back in the day, that time was spent physically exchanging stock certificates between brokers. Today’s trading volumes make that an impossible task. (Curious readers should learn about the 1960s Paperwork Crisis.)
Today, after a stock exchange completes a trade, it sends the information to the DTCC, which keeps track of brokers’ books. The DTCC is a clearing house, an important part of the financial system. Clearing houses not only process and complete trades in an efficient manner, they help limit systemic risk. The clearing house promises to make good on all trades that happen regardless of what happens to an individual broker.
The DTCC is responsible for transferring ownership of the stock from the seller’s broker to the buyer’s broker—and vice versa for the cash involved. Rather than doing that after every single one of the trillions of dollars of trades each day, the DTCC waits until it can net several trades into “one position per security, per client, per settlement date,” according to its website. The settlement date is the day when the cash and securities involved in a trade actually change hands.
At the settlement date, which falls two days after the investor places their trade, the seller’s broker must deliver the stock being sold and the buyer’s broker must provide the cash. The DTCC guarantees that the transfer will happen and eliminates the risk of a single broker going under rippling across the market.
In exchange, the DTCC collects a fee per trade and requires some collateral from the brokers to ensure they have the assets to complete the transaction. It’s like putting a refundable deposit on a purchase that reduces the middleman’s risk while the package is in the mail, with full payment due once it arrives. The DTCC’s collateral requirements for brokers are calculated by a much more complex formula, based on the specific shares’ notional value, volatility, and other variables.
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For a relatively risk-free transaction—in liquid, less volatile stocks like, say, Apple (AAPL) or Microsoft (MSFT)—that collateral requirement could be around the order of 10% of the transaction value. For a stock like GameStop this week, the DTCC’s formula might spit out a collateral requirement several times higher than that because it takes on greater risk. That’s because the DTCC could be on the hook to deliver an asset that’s worth a materially different amount on the settlement date than the trade date if one of the brokers involved can’t complete the transaction.
When traders are using margin to buy, the broker needs to come up with the cash on its own. And when there’s a large imbalance between a broker’s buy and sell orders for a given security, it doesn’t net out as cleanly at the end of the day, meaning more collateral is required.
All of those factors applied to Robinhood and Gamestop on Thursday. The stock traded in a wide range from $112 to $438 on heavy volume, its users were predominantly placing buy orders for the shares, and many were using margin.
And those are the reasons the DTCC asked brokers for more collateral for each such trade. The clearing house didn’t want to be caught with brokers not having the funds they need to settle. Therefore, Robinhood and others restricted buying on these highflying stocks until it could come up with enough cash to pay collateral. Robinhood allowed users to sell the stocks because the selling broker puts up the shares as collateral, not cash.
Since then, the brokerage has drawn down its credit lines at several banks and brought in $1 billion from existing investors to fund additional collateral requirements. On Friday, Robinhood reopened buying of Gamestop and other recently popular stocks.
The DTCC says it processes trillions of dollars of transactions a day, including equities, bonds, mutual funds, and derivatives. It said that collateral requirements for all of its broker clients were $33.5 billion on Thursday, up from $26 billion the day before.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com
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The value of something is what someone will pay for it.
And who is this entity that values it that you are referring to?
And, you think they had the right to stop trading, because the hedge funds were losing money? Do you think you, I or the other rank and file in the world would be given such consideration?
Edit, and as the poster above mentioned, the hedge funds were still allowed to trade.
True but the stock is grossly over-priced. Someday soon (I give it a week tops) the stock will crater back to equilibrium, likely bringing the stock market with it. The stock market itself is inflated due to nearly negative interest rates and a lot of companies that will have reduced earnings for months to come due to a slow roll-up and ramp-up of COVID vaccines. Add in a grossly over-priced stock and you got a recipe for an economic depression.
As for the entity, I don't think anyone should be surprised that anyone the stock is over-priced. I honestly don't get people really defending these wannabe Wall Street wonderboys on r/WallStreetBets. They are equally as crooked as the hedge fund managers. The only reason people are bootlicking them is that they are "small people." Well "small people" can be a problem too. This has 1987, 2000 and 2008 written all over it.
True but the stock is grossly over-priced. Someday soon (I give it a week tops) the stock will crater back to equilibrium, likely bringing the stock market with it. The stock market itself is inflated due to nearly negative interest rates and a lot of companies that will have reduced earnings for months to come due to a slow roll-up and ramp-up of COVID vaccines. Add in a grossly over-priced stock and you got a recipe for an economic depression.
As for the entity, I don't think anyone should be surprised that anyone the stock is over-priced. I honestly don't get people really defending these wannabe Wall Street wonderboys on r/WallStreetBets. They are equally as crooked as the hedge fund managers. The only reason people are bootlicking them is that they are "small people." Well "small people" can be a problem too. This has 1987, 2000 and 2008 written all over it.
The stock is NOT "grossly over-priced" relative to how over-leveraged the short-holders are. There's a perfectly rational reason for why it's priced in the immediate term, namely the over-leveraged short positions have created a massive incentive to go long. There's a battle between competing market signals that, believe it or not, actually does relate to the underlying value of the company even if the current price per share does not. But in the here and now, this price run-up provides two invaluable lessons to institutional traders: 1) don't get so far over your skis with your short positions, because 2) there are now millions of eyes watching you and waiting to pounce on your careless risk-taking.
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