amateur traders beat Wall St. pros trading
January 30th, 2021 at 3:39:59 PM
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https://seekingalpha.com/instablog/52817466-andreas-repeta/5549401-sell-side-banks-pressured-hedgefunds-restricted-global-trading-in-wsb-stocks-to-avoid-losses
Excellent article on this whole situation and who is influencing who
Excellent article on this whole situation and who is influencing who
For Whom the bus tolls; The bus tolls for thee
January 31st, 2021 at 1:43:37 AM
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......................
SNL skewers the majority stockholder of Gamestock
pretty funny
btw - stocks should actually be pronounced "stonks"
it starts at 2:11 in the vid
what 𝘴𝘵𝘰𝘯𝘬𝘴 do you guys like................................................................................................................(~:\
SNL skewers the majority stockholder of Gamestock
pretty funny
btw - stocks should actually be pronounced "stonks"
it starts at 2:11 in the vid
what 𝘴𝘵𝘰𝘯𝘬𝘴 do you guys like................................................................................................................(~:\
Last edited by: lilredrooster on Jan 31, 2021
the foolish sayings of a rich man often pass for words of wisdom by the fools around him
February 4th, 2021 at 8:50:08 PM
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I had a decent amount of skin in this fiasco (mid sixes, at its peak), and it was certainly a mess.
The following is the official story, and what can be independently verified for the most part: Robinhood had a liquidity issue on Thursday 01/28/2021, which led to them restricting the account holdings of a wide variety of stocks (30 at its peak I want to say, including American Airlines and Starbucks, on top of the ones that people keep talking about). At its lowest, GME was limited to 1 (and, as of 02/04/2021 morning, it was still limited to 5000). You could sell your entire holdings, but you could not purchase above the limit. There was a loophole where you could purchase call options and immediately exercise them.
At this same time, Apex Clearing also had a similar issue which led to restricted purchases from a lot of other brokerages like Webull, and Interactive Brokers willfully disabled it for some reason or other (the CEO of IBKR made statements on CNBC of various kinds of illegal activity causing it to spike and effectively said that they'll unrestrict it when it's back to where the price should be). Unconfirmed, but there were also claims that Trading212 in England also blocked the selling of affected companies. Not all companies were affected-- Fidelity and Schwab had full functionality the entire time, as did... two? more that slip my mind.
A day or two before this point, Robinhood also disabled fractional share purchasing and margin purchasing. (Technically, it required maintenance of 100%, which largely amounts to the same thing.)
The moment the restrictions kicked in was the peak on Thursday, and it nosedived after, as pretty much all momentum was pulled out from under them. Thursday, either during afterhours or slightly after, RH announced that they'd be allowing limited purchases again... and it was up to a whopping 5. And after that, with increased bad news, such as S3 Partners, an analytics firm which had been reporting the amount of shares shorted, reversing their position from >100% shorted to something like 50% shorted over the weekend, it just got buried entirely.
One of the major points of contention is that Melvin was one of the major players shorting Gamestop, Robinhood sells order flow information to Citadel (for allegedly 40% of their revenue), and Citadel basically gave Melvin a ~2.5bil bailout a few days prior. Adding to this giant mess is that there was a massive coup on WSB last night (Wednesday midnight-ish, 02/03/2021) where pretty much all the active moderators got purged by old moderators who had been on the rolls but inactive for years. All in all, it lends itself to a tangled web of conspiracy theories.
The following is the official story, and what can be independently verified for the most part: Robinhood had a liquidity issue on Thursday 01/28/2021, which led to them restricting the account holdings of a wide variety of stocks (30 at its peak I want to say, including American Airlines and Starbucks, on top of the ones that people keep talking about). At its lowest, GME was limited to 1 (and, as of 02/04/2021 morning, it was still limited to 5000). You could sell your entire holdings, but you could not purchase above the limit. There was a loophole where you could purchase call options and immediately exercise them.
At this same time, Apex Clearing also had a similar issue which led to restricted purchases from a lot of other brokerages like Webull, and Interactive Brokers willfully disabled it for some reason or other (the CEO of IBKR made statements on CNBC of various kinds of illegal activity causing it to spike and effectively said that they'll unrestrict it when it's back to where the price should be). Unconfirmed, but there were also claims that Trading212 in England also blocked the selling of affected companies. Not all companies were affected-- Fidelity and Schwab had full functionality the entire time, as did... two? more that slip my mind.
A day or two before this point, Robinhood also disabled fractional share purchasing and margin purchasing. (Technically, it required maintenance of 100%, which largely amounts to the same thing.)
The moment the restrictions kicked in was the peak on Thursday, and it nosedived after, as pretty much all momentum was pulled out from under them. Thursday, either during afterhours or slightly after, RH announced that they'd be allowing limited purchases again... and it was up to a whopping 5. And after that, with increased bad news, such as S3 Partners, an analytics firm which had been reporting the amount of shares shorted, reversing their position from >100% shorted to something like 50% shorted over the weekend, it just got buried entirely.
One of the major points of contention is that Melvin was one of the major players shorting Gamestop, Robinhood sells order flow information to Citadel (for allegedly 40% of their revenue), and Citadel basically gave Melvin a ~2.5bil bailout a few days prior. Adding to this giant mess is that there was a massive coup on WSB last night (Wednesday midnight-ish, 02/03/2021) where pretty much all the active moderators got purged by old moderators who had been on the rolls but inactive for years. All in all, it lends itself to a tangled web of conspiracy theories.
May 29th, 2021 at 2:39:07 AM
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....................
it isn't over not by a longshot
on 5/29/2020 Gamestop closed at $4.33 - they are a Company with dismal prospects
𝑮𝑨𝑴𝑬𝑺𝑻𝑶𝑷 𝑰𝑺 𝑩𝑨𝑨𝑨𝑨𝑪𝑲............................GME closed at 222.00 on Friday.......................incredible
AMC is now being set up for a short squeeze as are other "meme" stocks
I believe the reddit gang at "Wall Street Bets" has become a powerful market player - who could have thunk it.............the internet changes things - drastically
https://finance.yahoo.com/news/meme-stocks-roar-back-fueled-by-reddit-inspired-traders-191408799.html
*
it isn't over not by a longshot
on 5/29/2020 Gamestop closed at $4.33 - they are a Company with dismal prospects
𝑮𝑨𝑴𝑬𝑺𝑻𝑶𝑷 𝑰𝑺 𝑩𝑨𝑨𝑨𝑨𝑪𝑲............................GME closed at 222.00 on Friday.......................incredible
AMC is now being set up for a short squeeze as are other "meme" stocks
I believe the reddit gang at "Wall Street Bets" has become a powerful market player - who could have thunk it.............the internet changes things - drastically
https://finance.yahoo.com/news/meme-stocks-roar-back-fueled-by-reddit-inspired-traders-191408799.html
*
Last edited by: lilredrooster on May 29, 2021
the foolish sayings of a rich man often pass for words of wisdom by the fools around him
