NFT: Is AMC the next GameStop?

In comment 15137252 Zeke's Alibi said:

Quote:

Robinhood selling people's stocks. Apparently, it's in their TOS they can do that. They are toast as a company for sure. Link - ( New Window )

What crime is violated if Robinhood does something if it something agreed upon in their TOS?

I do agree that they are toast as a company.

In comment 15137258 KDavies said:

Quote:

In comment 15137252 Zeke's Alibi said: Quote: Robinhood selling people's stocks. Apparently, it's in their TOS they can do that. They are toast as a company for sure. Link - ( New Window ) What crime is violated if Robinhood does something if it something agreed upon in their TOS? I do agree that they are toast as a company.

I'm not a lawyer, but it seems like that's in there in case they need to liquidate as a company, which is understandable. Instead, they are selling people's stocks to protect their investors.

there will be a ton of civil litigation spawning from this. Class actions are already filed.

In comment 15137240 bubba0825 said:

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Stopped you from selling GME who is buying?

It is most likely big companies and investors with big portfolios, they are jjst bjying and selling, letting it drop then buyign it for cheap, let it rise and sell again...rinse and repeat..

and i think if you currently have stock you can sell and buy back in

In comment 15137252 Zeke's Alibi said:

Quote:

Robinhood selling people's stocks. Apparently, it's in their TOS they can do that. They are toast as a company for sure. Link - ( New Window )

Bull Investments has 482 followers.

You're circling the drain lately dude.

I can’t see how they do their planned IPO now with the class actions already rolling in and announced congressional inquiries being demanded by dems and republicans alike. Tbh, I don’t even know how their action today to forbid buying of shares and only allow selling of them is legal? That’s a classic squeeze/trap to hold investors hostage and force selling out of fear.

I can’t believe how this is unfolding. Will be interesting to see what forces coerced Robinhood to take this action as a private company.

If it's not clear to you that the whole thing is a fucking money making scheme for the super rich now, I don't know what to tell you.

In comment 15137283 NJBlueTuna said:

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I can’t believe how this is unfolding. Will be interesting to see what forces coerced Robinhood to take this action as a private company.

If this indeed tanks Robinhood as a company, I wonder if they'd remotely have a case that they were intimidated/coerced into making this decision.

In comment 15137283 NJBlueTuna said:

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I can’t see how they do their planned IPO now with the class actions already rolling in and announced congressional inquiries being demanded by dems and republicans alike. Tbh, I don’t even know how their action today to forbid buying of shares and only allow selling of them is legal? That’s a classic squeeze/trap to hold investors hostage and force selling out of fear. I can’t believe how this is unfolding. Will be interesting to see what forces coerced Robinhood to take this action as a private company.

ot happens alot just not to this scale...Whenever a stock fluctuates up or down 10 points they halt the stock for certain period of time, its called a circuit breaker to try and stop momentum of a stock

In comment 15137296 nygiants16 said:

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In comment 15137283 NJBlueTuna said: Quote: I can’t see how they do their planned IPO now with the class actions already rolling in and announced congressional inquiries being demanded by dems and republicans alike. Tbh, I don’t even know how their action today to forbid buying of shares and only allow selling of them is legal? That’s a classic squeeze/trap to hold investors hostage and force selling out of fear. I can’t believe how this is unfolding. Will be interesting to see what forces coerced Robinhood to take this action as a private company. ot happens alot just not to this scale...Whenever a stock fluctuates up or down 10 points they halt the stock for certain period of time, its called a circuit breaker to try and stop momentum of a stock

Circuit breakers aren't the same as brokerages preventing you from buying stock.

In comment 15137296 nygiants16 said:

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In comment 15137283 NJBlueTuna said: Quote: I can’t see how they do their planned IPO now with the class actions already rolling in and announced congressional inquiries being demanded by dems and republicans alike. Tbh, I don’t even know how their action today to forbid buying of shares and only allow selling of them is legal? That’s a classic squeeze/trap to hold investors hostage and force selling out of fear. I can’t believe how this is unfolding. Will be interesting to see what forces coerced Robinhood to take this action as a private company. ot happens alot just not to this scale...Whenever a stock fluctuates up or down 10 points they halt the stock for certain period of time, its called a circuit breaker to try and stop momentum of a stock

What? They shut buying down all day but only allowed you to sell on fear. Look up the company and see who has down all their pre-IPO financing.

In comment 15137306 NJBlueTuna said:

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In comment 15137296 nygiants16 said: Quote: In comment 15137283 NJBlueTuna said: Quote: I can’t see how they do their planned IPO now with the class actions already rolling in and announced congressional inquiries being demanded by dems and republicans alike. Tbh, I don’t even know how their action today to forbid buying of shares and only allow selling of them is legal? That’s a classic squeeze/trap to hold investors hostage and force selling out of fear. I can’t believe how this is unfolding. Will be interesting to see what forces coerced Robinhood to take this action as a private company. ot happens alot just not to this scale...Whenever a stock fluctuates up or down 10 points they halt the stock for certain period of time, its called a circuit breaker to try and stop momentum of a stock What? They shut buying down all day but only allowed you to sell on fear. Look up the company and see who has down all their pre-IPO financing.

I am saying it doesn happen where they stop buying and selling, obviously not all day this is extremem

In comment 15137311 nygiants16 said:

Quote:

In comment 15137306 NJBlueTuna said: Quote: In comment 15137296 nygiants16 said: Quote: In comment 15137283 NJBlueTuna said: Quote: I can’t see how they do their planned IPO now with the class actions already rolling in and announced congressional inquiries being demanded by dems and republicans alike. Tbh, I don’t even know how their action today to forbid buying of shares and only allow selling of them is legal? That’s a classic squeeze/trap to hold investors hostage and force selling out of fear. I can’t believe how this is unfolding. Will be interesting to see what forces coerced Robinhood to take this action as a private company. ot happens alot just not to this scale...Whenever a stock fluctuates up or down 10 points they halt the stock for certain period of time, its called a circuit breaker to try and stop momentum of a stock What? They shut buying down all day but only allowed you to sell on fear. Look up the company and see who has down all their pre-IPO financing. I am saying it doesn happen where they stop buying and selling, obviously not all day this is extremem

Halting trading and not allowing a certain segment of the market from buying are very different

In comment 15137315 JayBinQueens said:

Quote:

In comment 15137311 nygiants16 said: Quote: In comment 15137306 NJBlueTuna said: Quote: In comment 15137296 nygiants16 said: Quote: In comment 15137283 NJBlueTuna said: Quote: I can’t see how they do their planned IPO now with the class actions already rolling in and announced congressional inquiries being demanded by dems and republicans alike. Tbh, I don’t even know how their action today to forbid buying of shares and only allow selling of them is legal? That’s a classic squeeze/trap to hold investors hostage and force selling out of fear. I can’t believe how this is unfolding. Will be interesting to see what forces coerced Robinhood to take this action as a private company. ot happens alot just not to this scale...Whenever a stock fluctuates up or down 10 points they halt the stock for certain period of time, its called a circuit breaker to try and stop momentum of a stock What? They shut buying down all day but only allowed you to sell on fear. Look up the company and see who has down all their pre-IPO financing. I am saying it doesn happen where they stop buying and selling, obviously not all day this is extremem Halting trading and not allowing a certain segment of the market from buying are very different

true bad example on my part

But the damage was done as it allowed hedge shorts to unwind their positions before contracts are due tomorrow. They just made the legal case against them even worse for the company.

But one thing I believe is that Robinhood threw away all its goodwill today. I don't see why any retail investor would use their platform now. I obviously do not know or understand the pressure they were under, but just from the perspective of alienating their customer base forever, it seems to me to have been an incredibly short-sighted decision.

Robinhood is quite misnamed, and from this point forward should be referred to as "Sheriff of Nottingham."

In comment 15137348 Mike from SI said:

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But one thing I believe is that Robinhood threw away all its goodwill today. I don't see why any retail investor would use their platform now. I obviously do not know or understand the pressure they were under, but just from the perspective of alienating their customer base forever, it seems to me to have been an incredibly short-sighted decision.

Totally. I mean, aside from the inherent risk of trading stock, now Robinhood customers have to consider the risk that the platform will suddenly prevent buying and cause a massive shift in that stock??

No thanks.

Saying they were stepping in by stopping trading to protect their clearing house. That people shouldn’t be buying a stock that is not rationally priced. That the fundamentals don’t support the price and that the only motive to buy is more or less illegal so they won’t support it.

GMAFB. Reddit got the death penalty for daring to make a hedge fund pay for its bad trades. Nobody stopped to assist Melvin’s risk management people in ensuring they knew what they were doing. If they didn’t expose their flank, this never happens. But they did, and we had to shut down the free market to help them and the other billionaires unwind their positions before resuming, “limited trading.”

Why should we think anything running on silicon will not be manipulated if it is in the interest of those at the controls? And in this case the ostensible loser on the GME trade has a ton of control over the literal instrumentality used by the kids.

Class action filed in New York. Get a fat payout of $3.28 from the settlement.

that "retail traders" from reddit boosted the market cap of GME 15 billion dollars? Am I wrong to be a skeptic of everything as it's being portrayed in the media? It seems to me like there's some big money involved here, and it's not just from redditors.

Isn't what RH did an obvious slamdunk of a Securities Fraud case? Is this not market manipulation?

In comment 15137402 giantBCP said:

Quote:

that "retail traders" from reddit boosted the market cap of GME 15 billion dollars? Am I wrong to be a skeptic of everything as it's being portrayed in the media? It seems to me like there's some big money involved here, and it's not just from redditors.

that's how it started, it snowballed beyond what they imagined I think, but absolutely how it started - but it's not college kids on a reddit board using their weed money (initially), it was 50k from the guy who runs wallstreetbets forum, but eventually caught the attention of Elon Musk, Chamath Palihapitiya, and Mark Cuban.

Heck, my 18 year old college freshman called me and asked if she should buy it.

Then the vehicle that enabled it was robinhood, which is a mobile/web based equity trading tool that is much more in accessible and up the "Gen Z' alley.

Think of Robinhood like Draft Kings or Fan Duel, but for stocks - it's that easy to trade (usually).

In comment 15137414 pjcas18 said:

Quote:

In comment 15137402 giantBCP said: Quote: that "retail traders" from reddit boosted the market cap of GME 15 billion dollars? Am I wrong to be a skeptic of everything as it's being portrayed in the media? It seems to me like there's some big money involved here, and it's not just from redditors. that's how it started, it snowballed beyond what they imagined I think, but absolutely how it started - but it's not college kids on a reddit board using their weed money (initially), it was 50k from the guy who runs wallstreetbets forum, but eventually caught the attention of Elon Musk, Chamath Palihapitiya, and Mark Cuban. Heck, my 18 year old college freshman called me and asked if she should buy it. Then the vehicle that enabled it was robinhood, which is a mobile/web based equity trading tool that is much more in accessible and up the "Gen Z' alley. Think of Robinhood like Draft Kings or Fan Duel, but for stocks - it's that easy to trade (usually).

Yes, but how much of the actual trading was from Wall St., and how much of it was from the “retail traders”? $20B is a huge amount of money, and I don’t think that the majority of that volume was from the average joe.

In comment 15137402 giantBCP said:

Quote:

that "retail traders" from reddit boosted the market cap of GME 15 billion dollars? Am I wrong to be a skeptic of everything as it's being portrayed in the media? It seems to me like there's some big money involved here, and it's not just from redditors.

The average joe just rode the wave, the heavy hitters were the ones to make it go

In comment 15137415 giantBCP said:

Quote:

In comment 15137414 pjcas18 said: Quote: In comment 15137402 giantBCP said: Quote: that "retail traders" from reddit boosted the market cap of GME 15 billion dollars? Am I wrong to be a skeptic of everything as it's being portrayed in the media? It seems to me like there's some big money involved here, and it's not just from redditors. that's how it started, it snowballed beyond what they imagined I think, but absolutely how it started - but it's not college kids on a reddit board using their weed money (initially), it was 50k from the guy who runs wallstreetbets forum, but eventually caught the attention of Elon Musk, Chamath Palihapitiya, and Mark Cuban. Heck, my 18 year old college freshman called me and asked if she should buy it. Then the vehicle that enabled it was robinhood, which is a mobile/web based equity trading tool that is much more in accessible and up the "Gen Z' alley. Think of Robinhood like Draft Kings or Fan Duel, but for stocks - it's that easy to trade (usually). Yes, but how much of the actual trading was from Wall St., and how much of it was from the “retail traders”? $20B is a huge amount of money, and I don’t think that the majority of that volume was from the average joe.

Wallstreetbets subreddit gained 2.5 million users in the last week. Some people claimed to have put thousands in (if not more). There's power in numbers...

But, to be fair - there are definitely some big players involved as well

It’s crazy volatile. Big hitters and retail traders alike - that targets have narrowed from thousands of options down to like 10-20. The same 5 are pumped over and over and the media blitz is feeding into it.

The one guy lost 14 million in value today. This is nuts

In comment 15137430 mattlawson said:

Quote:

It’s crazy volatile. Big hitters and retail traders alike - that targets have narrowed from thousands of options down to like 10-20. The same 5 are pumped over and over and the media blitz is feeding into it. The one guy lost 14 million in value today. This is nuts

He's still holding too.

Saying if he’s still in I’m still in. He won’t be for much longer, but amc and GME are up big AH.

In comment 15137449 montanagiant said:

Quote:

Quote: Robinhood has started selling users' stock without their permission and has been hit with a class-action lawsuit accusing the stock trading app of siding with Wall Street hedge funds by blocking investors' ability to buy shares of GameStop following a Reddit-fueled rally.

Even if not true - do you see a way for them to survive this?

In comment 15137454 JayBinQueens said:

Quote:

In comment 15137449 montanagiant said: Quote: Quote: Robinhood has started selling users' stock without their permission and has been hit with a class-action lawsuit accusing the stock trading app of siding with Wall Street hedge funds by blocking investors' ability to buy shares of GameStop following a Reddit-fueled rally. Even if not true - do you see a way for them to survive this?

No way, their rep is ruined. But I think this really would open them up badly for lawsuits

I had a little play money and thanks to my FOMO I bought a couple shares this morning. Within 10 minutes I was up a lot. 30 minutes later I looked and was down and dropping. Got out with a loss but managed to stop the bleeding. Lesson learned. Maybe I should have kept holding until tomorrow but oh well.

In comment 15137470 DC Gmen Fan said:

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I had a little play money and thanks to my FOMO I bought a couple shares this morning. Within 10 minutes I was up a lot. 30 minutes later I looked and was down and dropping. Got out with a loss but managed to stop the bleeding. Lesson learned. Maybe I should have kept holding until tomorrow but oh well.

Its going to be like this for awhile, fluctuate, people selling high then buying back in when it drops..

In comment 15137475 nygiants16 said:

Quote:

In comment 15137470 DC Gmen Fan said: Quote: I had a little play money and thanks to my FOMO I bought a couple shares this morning. Within 10 minutes I was up a lot. 30 minutes later I looked and was down and dropping. Got out with a loss but managed to stop the bleeding. Lesson learned. Maybe I should have kept holding until tomorrow but oh well. Its going to be like this for awhile, fluctuate, people selling high then buying back in when it drops..

I do my trading through Schwab. Is it permissible to buy/sell a stock in the same day more than once and not be labeled a day trader?

I haven't been following the news that much of late-I needed a break-...can someone give me a quick synopsis of WTF is going on? Haha. Thanks. Much appreciated.

In comment 15137449 montanagiant said:

Quote:

Quote: Robinhood has started selling users' stock without their permission and has been hit with a class-action lawsuit accusing the stock trading app of siding with Wall Street hedge funds by blocking investors' ability to buy shares of GameStop following a Reddit-fueled rally.

Those forced sells might be for margin calls.

video of interview - ( New Window )

In comment 15137477 SFGFNCGiantsFan said:

Quote:

I haven't been following the news that much of late-I needed a break-...can someone give me a quick synopsis of WTF is going on? Haha. Thanks. Much appreciated.

BBI closed at 437.00 a share

In comment 15137449 montanagiant said:

Quote:

Quote: Robinhood has started selling users' stock without their permission and has been hit with a class-action lawsuit accusing the stock trading app of siding with Wall Street hedge funds by blocking investors' ability to buy shares of GameStop following a Reddit-fueled rally.

This screenshot is floating around twitter, supposedly from one or more RobinHood users. I'd take it with a grain of salt until it's confirmed. The lawsuit is real, though:

of people who were able to sell GME for over $2600/share today right before RH pulled the plug.
We were seconds away from a virtual black hole of liquidity in GME.

RH had no choice. But wow are they screwed. and this isn't close to being over yet.

There literally aren't enough shares to sell any more. Get your popcorn ready for tomorrow.

Is the most 2021 thing I can write.

Nevertheless...
Link - ( New Window )

In comment 15137477 SFGFNCGiantsFan said:

Quote:

I haven't been following the news that much of late-I needed a break-...can someone give me a quick synopsis of WTF is going on? Haha. Thanks. Much appreciated.

Hedge fund shorted over 120% of gamestop stock
Reddit found out and started raising the price
Wall st found out and Melvin Capital (the hedgefund) took an almost $3bil loan out to help stop the bleeding. Didn't work.
Robin Hood and other trading platforms stopped allowing regular people to purchase the stock this morning after crazy overnight movement.
Rumors have it the hedgefunds took out more shorts right before RH etc did this. Stock plummetted from almost 500 to low 100s.. It's been going up since but has been blatant market manipulation in favor of the hedgefunds

In comment 15137493 State Your Name said:

Quote:

of people who were able to sell GME for over $2600/share today right before RH pulled the plug. We were seconds away from a virtual black hole of liquidity in GME. RH had no choice. But wow are they screwed. and this isn't close to being over yet. There literally aren't enough shares to sell any more. Get your popcorn ready for tomorrow.

Anyone who buys GME at $2600 is making an
Incredibly risky
Purchase. They deserve what they get. Plus I doubt this is true. It was some OTK trade

I don't really do this kind of work any more, but I used to litigate market manipulation and short selling cases. This is like the science fiction version of what used to be much more manageable, even if things were dicey (or crooked) sometimes. This is hedge funds meet the masses on the internet. Crazy stuff. I'll be watching the legal cases with great interest. There will be both investigations and discovery in civil suits as to what happened here.

Conspiring to buy a stock solely to
Manipulate its price is securities fraud.

I did not read the Reddit thread. So I don’t know how it was
Phrased . Maybe they avoided illegal sction but they are definitely skating close to the line

In comment 15137509 Vanzetti said:

Quote:

Conspiring to buy a stock solely to Manipulate its price is securities fraud. I did not read the Reddit thread. So I don’t know how it was Phrased . Maybe they avoided illegal sction but they are definitely skating close to the line

You don't have to be a blameless hero in this scenario to see the deeper point. Institutional investors manipulate stock prices routinely, and rarely, if ever get slapped down for it. But action gets taken when Reddit upsets the applecart.

In comment 15137509 Vanzetti said:

Quote:

Conspiring to buy a stock solely to Manipulate its price is securities fraud. I did not read the Reddit thread. So I don’t know how it was Phrased . Maybe they avoided illegal sction but they are definitely skating close to the line

Wow.

The billionaire cheaters who game the system on a daily basis got burned by the peasants and you cry outrage!

No need to worry, the full weight of the system will bury those upstart peasants. And your faith in the "system" will be restored.

has a good summary of the whole back story to what we are seeing now, if you don't know stocks/finance at all you might need to look up some terminology.

I'll paste the whole twitter story (?) and then a link to it.

Josh Gross
@endtwist
So many folks (esp. the media) are missing the complete backstory on $GME and how we got here.

This has been simmering for over a year and the story behind it is great. I’ve been tracking this since September and devoured all of the details from the origin through today.
4:51 PM · Jan 27, 2021·Twitter Web App


Josh Gross
@endtwist
·
Jan 27
Replying to
@endtwist
So back in September 2019 (!) some guy named DeepFuckingValue posted this on r/wallstreetbets:



Josh Gross
@endtwist
·
Jan 27
It was just a post about his LEAPS (aka,
Long-Term Equity Anticipation Securities — tl;dr long-dated calls) on GME.

At the time, nobody understood his position at all. The top comment on that post?

"Bid-ask spread on these are ridiculous, good luck getting rid of them" lol.

Josh Gross
@endtwist
·
Jan 27
For the next year, every month about once a month, he posted his "YOLO GME" position. Every month for a year he got made fun of.

I caught wind of this trade back in September 2020, a FULL YEAR after this guy was already holding. I also thought it was weird—the dying retailer?

Josh Gross
@endtwist
·
Jan 27
So I dug into the public quarterly reports of GameStop. Every quarter, public companies are required to release what's called a "10-Q" which is a quarterly report of their financials. You can find them here:


Josh Gross
@endtwist
·
Jan 27
And what did I find? GameStop was actually in a great financial position; they weren't going broke! In fact, they had a lot of cash-in-hand, enough to pay off all their debts.

So why was it trading at like … $2-4/share?

Josh Gross
@endtwist
·
Jan 27
Next, I looked at their short interest. "Shorting", for those who don’t know, is when you borrow a stock (from someone) and sell it on the market expecting the price to go down. You eventually buy back the stock at a lower price, return the borrowed shares, and pocket the diff.

Josh Gross
@endtwist
·
Jan 27
So, the short interest was over 100% of total shares. In fact, it was 140%. Which makes no sense—how can you sell more shares than there are shares?

Keep in mind, not all shares are actively traded. In fact, over 75% of $GME is locked up in passive funds and GME board & C-suite.


Josh Gross
@endtwist
Replying to
@endtwist
So really, short interest was like 300-500% of *float* (float is how many shares are actively traded, basically).

Which is insane. Basically, the shorts (which are hedge funds like Melvin) were expecting $GME to go bankrupt and they'd never have to cover (return their shares).
5:17 PM · Jan 27, 2021·Twitter Web App

Josh Gross
@endtwist
·
Jan 27
u/DeepFuckingValue had figured this out long before anyone. Even Michael Burry (yes, The Big Short guy) who bought in AFTER u/DeepFuckingValue.

And he bought in, with conviction in his trade, ignoring the haters.

Josh Gross
@endtwist
Replying to
@endtwist
A year later and people start to take notice on reddit. The price has started to inch up, from $4 to $8 to $12 over September and October.

And more people on r/WallStreetBets started buying in.

And then more people.

And then more people.
5:17 PM · Jan 27, 2021·Twitter Web App

Josh Gross
@endtwist
·
Jan 27
Replying to
@endtwist
Which, of course, makes the price go up. So the price keeps going up and more people keep taking notice and so on.

Eventually, the shorts are supposed to cover. But how? They need to purchase more shares than there are in the company. Well, that means purchasing at any price.

Josh Gross
@endtwist
·
Jan 27
So they start to cover, which means buying hundreds of thousands of shares, which pushes the price up more.

And then last Friday, thanks to momentum and growing interest from retail traders, we had what is called a "gamma squeeze." Which isn’t the short squeeze!

Josh Gross
@endtwist
·
Jan 27
So, quick aside to explain this: Market Makers (the big banks and funds, like GS, Citadel, etc) write options. When they do, they have to remain "market neutral" by law. So there are what's called "the greeks" on options: theta, gamma, etc. Look 'em up if you'r curious.

Anyway…

Josh Gross
@endtwist
·
Jan 27
"Gamma" is a number between 0-1 that changes on a call as the price of a stock gets closer to the call price. Lets say you buy a $300 call and the stock is $290. Gamma would be ~0.98.

Meaning for every call purchased (which rep. 100 shares), MMs buy 98 shares to be neutral.

Josh Gross
@endtwist
·
Jan 27
As gamma changes, they have to buy more or sell more shares.

On Friday, the price was over every available call strike, which meant that MMs had to buy millions of shares—if a call is "in the money" (stock price > call price) they have to deliver the shares.

Josh Gross
@endtwist
·
Jan 27
So on Friday and Monday, the price ran up very quickly as MMs hustled to cover the calls and settle them.

Then the news took notice and everything went wild. More people piled in, larger firms are piling in on the buy side, Elon, Chamath… and the price exploded.

Josh Gross
@endtwist
·
Jan 27
So that’s how we're where we are now. Supposedly, a number of shorts have covered. That being said, last I checked, the short interest was still ~138% so either:

(a) the shorts haven’t covered or,
(b) more people are shorting to replace the shorts that covered

Josh Gross
@endtwist
·
Jan 27
When you short, you pay a borrow fee which can change from day to day. Right now that fee on $GME is between 20-80%. That’s like… credit card interest rates! To borrow a stock!

So the longer you’re holding your short position, the more it costs.

Josh Gross
@endtwist
·
Jan 27
Eventually it either costs too much and you have to close your position for a loss, or you go bankrupt. Melvin almost went bankrupt (they got a $2.75B bailout from 2 other hedge funds).

This is where we are now. Where does it go from here? I’m not sure!

Josh Gross
@endtwist
·
Jan 27
Sorry this was so long, I find it really interesting and have been very invested in the story for months :)
link - ( New Window )

In comment 15137535 Eric from BBI said:

Quote:

In comment 15137509 Vanzetti said: Quote: Conspiring to buy a stock solely to Manipulate its price is securities fraud. I did not read the Reddit thread. So I don’t know how it was Phrased . Maybe they avoided illegal sction but they are definitely skating close to the line Wow. The billionaire cheaters who game the system on a daily basis got burned by the peasants and you cry outrage! No need to worry, the full weight of the system will bury those upstart peasants. And your faith in the "system" will be restored.

Ding ding ding!

I've read that Gamestop's stock was shorted 140%.

How is that even possible? Or legal?