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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.
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.
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
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.
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.
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
Just enjoy being part of something that's screwing over hedge funds.
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