abrakamowse

This is the guy who began all this GME stock craziness...

I was thinking exactly the same. And after this craziness of the GME stocks I read someone in twitter that said the same thing, that Capitalism is a pyramid scheme. So, I google it and I found this, not sure what are his arguments but I want to know more about it. https://www.forbes.com/sites/jeffmcmahon/2019/04/05/the-world-economy-is-a-pyramid-scheme-steven-chu-says/?sh=3e3267164f17

@Preety_India That's a good thing. I really would feel sad if the movie theaters have to close doors. I enjoy going to the movies. We already have a crisis, people is not going to the movies as before and on top of that the COVID thing... I think this give all of us hope...

Lol https://cointelegraph.com/news/wallstreetbets-coin-becomes-1-on-coinmarketcap-kind-of

WTF is this??? The wallstreetbets created a new coin? Lol (Edit: I did some research and is a joke, it's not a real coin... )

The thing is that Game Stop stocks were going down like crazy and some hedge fund managers were betting that it will go down more. So what they did is they use a technique called short selling, what they do is they borrow stocks from another hedge fund and they pay a low fee. Then the sell it at the market price and then they buy the stock again cheaper, because it was supposed to go down and they return it to the hedge fund and they keep the difference. The problem is that some redditors that invest they saw the opportunity to buy and bring the price up so the hedge fund managers will have to pay more and will lose money in the transaction. They also wanted to help companies that are not doing good, they are doing the same with AMC and other companies that are going bankrupt. And now is like a war between Wall Street and some Redditor investors...

I'm not going to make fun of you, really. It doesn't matter what happens.

@Lyubov The problem now is that they are limiting to buy the stocks they will do down. Do you think is going to go up?

They are gonna call it the Prince John app from now on...

Thanks @Preety_India I will take a look!!!

@Preety_India Now I want to watch the movie "The Big Short" to educate a bit more about all this crazy thing...

I noticed that a lot of them use an app called Clapper that claims to be a "Free Speech" app... Lol... we need to redefine free speech, because they think free speech is saying al kind of racist and hate stuff...

Lol... DraculHood or directly Transilvania hehehe.. They are saying that probably in the lawsuit the lawyers can argue that there is collusion, because they were in reddit asking others investors to buy... so... the people is going to lose as usual...

I think it will...

Here there’s some BS from the CEO of Robinhood

Not sure if I want to cry or laugh ? I think I’m going to laugh lol

I don't know but they are already presenting a lawsuit against them, and if the politicians are paying attention maybe they do something. Not sure about that... but is possible. https://thehill.com/policy/healthcare/536320-class-action-lawsuit-filed-against-robinhood-for-restricting-trading

@Preety_India Robinhood is going to be in big trouble... I think... but who knows?

They posted it on twitter... :-)