Gamestop stock situation

[abundance]

19 minutes ago, Leo Gura said:

Lolz

And yet these same people are overjoyed when social media bans MAGA extremists.

 

Well, its not like GME stock buyers are storming capitols, threatening to murder politicians,  and discrediting fair and free elections etc. 

I get your point but the comparison isn't that strong

[Leo Gura]

4 minutes ago, SOUL said:

So buying a publicly traded stock as the market and the apps used as brokers are designed and intended for is the same thing as openly calling for violence and discrimination on others that is against the ToS of the platforms they are using? Hmmmm....interesting.

Nice BS.

These people are not innocently just buying stock.

Again, check your biases. Your vision is clouded by hatred of elites.

4 minutes ago, abrakamowse said:

Karma

Oh the dumbness of it all.

[Jennjenn]

11 minutes ago, abrakamowse said:

They are playing with fire and finally they got burned ?

Exactly. But they have more power over the common people. Something they don’t have towards other hedge funds hence the banning from robinhood. I predict robinhood will get canceled by the mob. 

[Forestluv]

4 minutes ago, Leo Gura said:

The long term fundamentals of GameSpot ain't good. It's basically Blockbuster during Netflix. GameSpot may not even exist in 10 years as all games will go full digital.

GameSpot is a pretty shitty company.

That's the nature of investing. It's always extremely manipulative.

And hedgefunds created and sold virtual GameSpot shares assuming they could cover later when GameSpot fails. That is extremely manipulative and I have no sympathy for them getting burned. Yet unfortunately, day traders that got in early will profit and more regular people entering now in the bubble will get burned as hedge funds and day traders are shorting again. I'd rather see some type of government regulation that taxes the manipulation and uses that revenue at the public level - such as education and health care. 

[Leo Gura]

This is why law exists, because when egos take justice into their own hands it is never justice, it just devolves into an arms race of devilry. Which is what is happening here.

[Lyubov]

44 minutes ago, Leo Gura said:

That's exactly correct. Reddit, Discord, and Robinhood will all be forced to self-regulate this mob activity. Because it is toxic behavior.

 

just kinda shitty that it takes some hedge funds to be shorted for such quick action to be taken vs all the amount of misinformation and mob bs social media we had to put up with the last 4 years

[Leo Gura]

3 minutes ago, Lyubov said:

just kinda shitty that it takes some hedge funds to be shorted for such quick action to be taken vs all the amount of misinformation and mob bs social media we had to put up with the last 4 years

Platforms are becoming wise to preempting a PR nightmare due to people exploiting their platforms for devilry.

As I manage this forum I become wiser about spotting and banning devils. It's natural. I used to be much more lax.

[Phyllis Wagner]

@Leo Gura How exactly is it karma if the hedge funds use dirty tactics to not lose their risky bet? Would it be your prefered outcome to have all the daytraders losing their money by not letting them buying stocks, save the hedge funds asses and let them go on making risky bets for years to come?

I agree it is a unconscious riot-like situation on the subreddit, but so what? In the end it is just people discussing a stock on a forum and then deciding to buy in a frenzy. Nothing illegal about that. 

Should a situation like that be regulated from happening again? Sure. But not while it is happening. Let the current rules play out fairly and then regulate it. These hedge funds played with unfair advantage at the casino and now it's biting them in the ass. I really don't see how the people are at fault here. Both exploited the current rules, some for years, some for a couple days. Sometimes things need to be shaken up to change, and then both sides are going to be regulated.

 

Shorting 150% of a stock is as ridiculous as the current situation.

Edited January 28, 2021 by Phyllis Wagner

[SOUL]

6 minutes ago, Leo Gura said:

Nice BS.

These people are not innocently just buying stock.

Again, check your biases. Your vision is clouded by hatred of elites.

What else is it you think they are they doing? Explain it to me.

Bias = people saying stuff I don't like.

I don't 'hate' anyone or anything....maybe your own vision is clouded by your own emotional disposition. I do however have feelings rise up from my subconscious mind about the happenings in this world. I feel the misery and suffering in the world even if I don't attach any identity in my own being to it....but it's there, in unity of one it is there.

How many more times do I have to exclaim if you think I thought, I think you thought too much.

[Forestluv]

13 minutes ago, Jennjenn said:

Exactly. But they have more power over the common people. Something they don’t have towards other hedge funds hence the banning from robinhood. I predict robinhood will get canceled by the mob. 

I see the billionaires as having more power. The people buying stock have much less power (as individuals), yet I'm not sure I would call them "common people". It's not like a poor community came together and said "Look, GameStop is over-leveraged. Let's create a short squeeze and use our profits for basic income and social services in our community". Rather, many of those "common people" are day trading gamblers. 

I'm in support of regulating and taxing speculative stock manipulations and using that money for social programs. Yet this is redistributing money from corrupt hedge fund managers to small time day traders. 

@SOUL The people that profited off this are small time day traders that collectively had an effect. They aren't "regular" people that have jobs like teaching, nursing, driving a bus etc. The "regular" people that saw this on the news and are now buying GameStop are getting screwed - by both hedge funds AND the day traders that burned the hedge funds. The small time day traders started selling and shorting at the peak when regular mom and pop people entered. They are now stealing money from their fellow citizens. 

[Yahya]

18 minutes ago, Leo Gura said:

This is why law exists, because when egos take justice into their own hands it is never justice, it just devolves into an arms race of devilry. Which is what is happening here.

How do I take law to the next level?

Edited January 28, 2021 by Yahya
Grammar mistakes

[Lyubov]

20 minutes ago, Leo Gura said:

This is why law exists, because when egos take justice into their own hands it is never justice, it just devolves into an arms race of devilry. Which is what is happening here.

don't you think your own bias against mobs and riots is clouding the bigger picture of the situation taking place here? there won't be perfect justice when it comes to this stuff. these are broad systemic issues that will take time to develop new ways to handle all the loop holes and manipulation that is currently possible. I think that the fact the hammer came down so quickly over this vs some of the shit that has slidden by recently is really telling of the current advantage the financial elite have and of course what this means for their abilities to manipulate as well, going unchecked.

Edited January 28, 2021 by Lyubov

[abrakamowse]

13 minutes ago, Forestluv said:

They are now stealing money from their fellow citizens. 

Now we are talking! I got now how the devilry is playing here.

 

[Jennjenn]

3 minutes ago, Lyubov said:

don't you think your own bias against mobs and riots is clouding the bigger picture of the situation taking place here? there won't be perfect justice when it comes to this stuff. these are broad systemic issues that will take time to develop new ways to handle all the loop holes and manipulation that is currently possible. I think that the fact the hammer came down so quickly over this vs some of the shit that has slidden by recently is really telling of the current advantage the financial elite have and of course what this means for their abilities to manipulate as well, going unchecked.

I guess the green revolution is supposed to happened by singing kumbaya. 
 

[SOUL]

7 minutes ago, Forestluv said:

 

@SOUL The people that profited off this are small time day traders that collectively had an effect. They aren't "regular" people that have jobs like teaching, nursing, driving a bus etc. The "regular" people that saw this on the news and are now buying GameStop are getting screwed - by both hedge funds AND the day traders that burned the hedge funds. The small time day traders started selling and shorting at the peak when regular mom and pop people entered. They are now stealing money from their fellow citizens. 

I'm sure there are a wide array of people that comprise the people who participated in this situation. I heard something read by a content creator that was written by one of the traders who did and I may not be able to actually find it to link but it was very telling.

They spoke about how they have always been in financial insecurity even in childhood and every day they are at risk of financial ruin if something accidentally goes wrong not of their own doing while working low paying jobs. So when took this opportunity it was a risk easily born because they are always at risk.

Sure, some, even many or most may have been 'day traders' but I suspect there are many varieties of people who are involved so I won't moralize about them as a collective block. I myself am just taking note of what is happening in observation of it and doing my best to not ascribe much morality to it even if it may appear as if my describing what I see does.

[abrakamowse]

37 minutes ago, Jennjenn said:

I predict robinhood will get canceled by the mob. 

I agree. I also think there will appear other stock buying apps to fill the void claiming freedom to trade any amount of stocks as users wish.

Not sure if that can happen but it would be nice.

? 

Edited January 28, 2021 by abrakamowse

[Jennjenn]

29 minutes ago, Forestluv said:

I see the billionaires as having more power. The people buying stock have much less power (as individuals), yet I'm not sure I would call them "common people". It's not like a poor community came together and said "Look, GameStop is over-leveraged. Let's create a short squeeze and use our profits for basic income and social services in our community". Rather, many of those "common people" are day trading gamblers. 

The majority of people can relate with the small time daytraders. On the other hand they can’t relate to billionaires. Almost no one can unless they are also billionaires themselves 

many people have a couple thousands invested in robinhood without necessarily being daytraders 

Edited January 28, 2021 by Jennjenn

[Forestluv]

1 minute ago, SOUL said:

They spoke about how they have always been in financial insecurity even in childhood and every day they are at risk of financial ruin if something accidentally goes wrong not of their own doing while working low paying jobs. So when took this opportunity it was a risk easily born because they are always at risk.

I'm sure there were some regular people in need that got lucky, got in early and made some good money. Yet for every one of those people, there will be 5 regular people that got in late and get screwed. There are people in need that invested yesterday in hope of making some money to survive. They invested the little money they have and are now getting screwed as the price crashes. The guy you knew may have walked away with his profits. Yet those in the game (both hedge fund managers and small time game traders) are selling and shorting to those that came late to the party and stealing their money. 

[Jennjenn]

 

[Forestluv]

4 minutes ago, Jennjenn said:

The majority of people can relate with the small time daytraders. On the other hand they can’t relate to billionaires. Almost no one can unless they are also billionaires themselves 

The majority of people can relate to one aspect of small time daytraders, that they are not wealthy. Yet the majority of people cannot relate to the mentality of daytraders.

Daytraders want to profit and they are happy to profit off of corrupt hedge fund managers or regular naïve people. When they saw hedgefund managers over-shorted, they collectively created a short-squeeze and profited. That may sound fine, yet the story doesn't end there. Now that the news has gone mainstream, naiive regular people are now buying GameStop in hopes of earning some money. The same day traders that burned the hedge fund managers have now joined hedgefund managers to burn regular people buying GameStop. Daytraders don't care who they take their money from. It's digits and graphs on a computer. They are detached from the human aspect of who they are taking the money from.