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Old 01-29-2021, 08:17 AM
 
Location: Spring Hill, FL
4,268 posts, read 1,517,143 times
Reputation: 3467

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Quote:
Originally Posted by scarabchuck View Post

That being said, isn't a group of individuals collaborating (reddit) together to drive a stock up , also market manipulation ?
As I said earlier, if that counts as manipulation, CNBC and Jim Cramer and his guests would also be guilty of it. It's a muddy area for sure, but companies restricting access to markets because hedge funds are taking a hit is pretty much text-book manipulation I would say, whereas the idea of a group talking and acting en-masse is a very grey area.

Nothing will happen to anyone at the end of it. Just as nothing happened to the members of congress who pulled money out of the market right before the pandemic started after they had insider information.

It's all a game. A game in which the rich always win and the poor can't even sit at the table. I can only hope it's waking up some sort of class consciousness in America.
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Old 01-29-2021, 08:26 AM
 
Location: Sector 001
15,932 posts, read 12,188,685 times
Reputation: 16097
Great responses on page one. People are getting wise to the game. The next step is to take this form of disobedience into the real world, doing things like ignoring lockdown orders, striking for higher wages, boycotting companies who censor speech, etc....civil disobedience.
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Old 01-29-2021, 08:29 AM
 
Location: New York City
19,061 posts, read 12,611,824 times
Reputation: 14781
Quote:
Originally Posted by Grlzrl View Post
It's way up in the premarket. They must have figured out a way.
It closed $193, literally 5 minutes after the bell it was $275. This morning at 6 am it opened at $470

Currently trading at $381, an overnight double


This thing is going to crash hard, but good luck timing it - "The market can remain irrational longer than you can remain solvent". Might be hours, might be weeks
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Old 01-29-2021, 08:53 AM
 
Location: Brackenwood
9,883 posts, read 5,550,028 times
Reputation: 22006
Quote:
Originally Posted by BlakeJones View Post
It closed $193, literally 5 minutes after the bell it was $275. This morning at 6 am it opened at $470

Currently trading at $381, an overnight double


This thing is going to crash hard, but good luck timing it - "The market can remain irrational longer than you can remain solvent". Might be hours, might be weeks
Meanwhile, as one member of the self-described "autistic retards" on /Wallstreetbets said, "I can stay retarded longer than you can stay solvent."

These short positions have hard due dates. It looks like the Occupy Hedge Funds crowd are willing to wait them out.
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Old 01-29-2021, 08:58 AM
 
77,744 posts, read 59,900,878 times
Reputation: 49150
Quote:
Originally Posted by Grlzrl View Post
Market Manipulation - v When the little guys outsmart the rich hedge fund managers at their own game.
Yeah, go buy 10 shares today for 2k and you can "outsmart" them too.
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Old 01-29-2021, 09:02 AM
 
Location: Spring Hill, FL
4,268 posts, read 1,517,143 times
Reputation: 3467
Quote:
Originally Posted by Mathguy View Post
Yeah, go buy 10 shares today for 2k and you can "outsmart" them too.
Jan 6th/7th is when things started going to the moon. Bought mine at $17 each. Now at $305.

I'm holding. I can afford to, I only bought 3 shares.
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Old 01-29-2021, 09:04 AM
 
Location: New Jersey
16,850 posts, read 10,485,882 times
Reputation: 16380
I’m a bit torn. I agree with the free market and don’t like the sec shutting things down. But this type of artificial “pump and dump” type of market manipulation is not what the market was created to do - which is invest in companies and help them raise capital.
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Old 01-29-2021, 09:05 AM
 
Location: NYC
6,442 posts, read 2,835,944 times
Reputation: 4328
Quote:
Originally Posted by Winterbeard View Post
Jan 6th/7th is when things started going to the moon. Bought mine at $17 each. Now at $305.

I'm holding. I can afford to, I only bought 3 shares.
it can't stay at that inflated price for long with no real valuation under it.
This was a stunt,...I doubt there will be honest support.

Keep your finger over the sell button! lol.

Once you read about the rally being over it's already too late.

good luck!
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Old 01-29-2021, 09:06 AM
 
19,966 posts, read 7,801,765 times
Reputation: 6556
Quote:
Originally Posted by Bitey View Post
Meanwhile, as one member of the self-described "autistic retards" on /Wallstreetbets said, "I can stay retarded longer than you can stay solvent."

These short positions have hard due dates. It looks like the Occupy Hedge Funds crowd are willing to wait them out.
That's where I think Wallstreet is going to change the normal rules to help the hedge funds and not call the shorts.
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Old 01-29-2021, 09:07 AM
 
Location: New York City
19,061 posts, read 12,611,824 times
Reputation: 14781
Quote:
Originally Posted by MJJersey View Post
I’m a bit torn. I agree with the free market and don’t like the sec shutting things down. But this type of artificial “pump and dump” type of market manipulation is not what the market was created to do - which is invest in companies and help them raise capital.
It's not pump and dump, go read through the wallstreetbets threads. People were like I don't care if l lose this 200 bucks, I just want to stick it to the hedge funds. They wanted to crush the short sellers and were 100% open and honest about it. Pump & Dump is about deception and talking up a stock fraudulently. These people didn't say Gamestop was worth stratospheric levels, they were saying squeeze the big guys and take their money


Exhibit A right here:

Quote:
Originally Posted by Winterbeard View Post
Just enjoy being part of something that's screwing over hedge funds.
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