Gamestop stock situation

[abrakamowse]

[abrakamowse]

[John Doe]

30 minutes ago, Leo Gura said:

This whole situation is a pointless red herring. It will solve nothing.

I don't even want to waste my mental energy thinking about this tempest in a teapot.

Yeah that Hasan video was a little immature. In retrospect I think I actually see your point. Ultimately to solve wealth-inequality, we need lawmakers pushing policies at the government level, like the 10-million wealth cap you mentioned somewhere. Playing these silly games won't get us anywhere, as the regulators will eventually sweep in and everything goes back to status quo. Even worse is when the hedge funds themselves start playing these games, could turn ugly I suppose.

[SOUL]

1 hour ago, Leo Gura said:

I have no idea what you fucking thought, but most progressives seem to be cheering on the Redditors.

Like this:

My apologies, you said to me 'your thinking' so you could understand why I might have got the impression you did have an idea.... my mistake.

My view of it is like if the worst team of the best league in the world  got beat by a bunch of rec league guys one time and it was an entertaining game to watch...

Although I have to add it seems that the deterrent on market shorting this provides may help curb some predatory behavior.

Edited January 28, 2021 by SOUL

[SOUL]

57 minutes ago, Leo Gura said:

I don't even want to waste my mental energy thinking about this tempest in a teapot.

My thinking exactly yet here we both are.....

[North Sea]

57 minutes ago, Leo Gura said:

If you are cheering on the Redditors, then you think they are doing something good against the elites who do something wrong.

Don't play word games with me.

Of course, the elites have unconsciously created the very system which rewards unconscious business like this. Who doesn't love the big bully getting a punch back, no matter how tiny?

[Lyubov]

54 minutes ago, Leo Gura said:

I have no idea what you fucking thought, but most progressives seem to be cheering on the Redditors.

Like this:

 

I don’t understand your sentiment. Are you just opposed across the board to any tomfoolery and consider yourself above it? You don’t think this is serving any value to the advancement of development to a more fair stock market?

[Preety_India]

I feel exactly the same way. This is just a tempest in a teapot. Nothing much is going to happen except some commotion on reddit and news 

 

Edited January 28, 2021 by Preety_India

[TK2021]

@Leo Gura
So, do you think that there is absolutely no value in the attention this creates, in order to change the rules of the game? Or that the negative it creates outweighs the positive? How does change happen without attention? This is essentially saying that there needs to be no "marketing" for changes to take place. Sounds naive to me.

I might be wrong, but perhaps a little ruckus is needed at this stage, perhaps it is even absolutely necessary.

Could you clarify. There is possibly a lot to learn here for everyone.

[Jennjenn]

1 hour ago, Emerald said:

So, there will absolutely need to be legislation passed if the goal is to protect the money and power of the owner class... which it is. This will happen fast.

This one sounds like a good legislation  

 

Edited January 28, 2021 by Jennjenn

[Roy]

Eat the rich.

[Jennjenn]

3 minutes ago, Roy said:

Eat the rich.

but conservatives are not ready for that conversation 

[Leo Gura]

The whole thing just strikes me a juvenile.

- - - - -

5 hours ago, abrakamowse said:

If the hedge funds were wrong, were they not punished by the market for being wrong about a stock? Anyone shorting Tesla must have lost a ton of money. So what more punishment do they need?

[Leo Gura]

4 hours ago, TK2021 said:

So, do you think that there is absolutely no value in the attention this creates, in order to change the rules of the game? Or that the negative it creates outweighs the positive? How does change happen without attention? This is essentially saying that there needs to be no "marketing" for changes to take place. Sounds naive to me.

I doubt this will create the change you want.

I see this as a sort of virtual riot. And while I understand why people riot and how Wall Street maybe deserves some riots, I'm not really supportive of riots because they are unconscious and get out of control.

In general, I am wary of stage Green mob activities. Although I understand why they happen and perhaps they are necessary in some cases. But they can easily get out of hand. I can't be optimistic about mobs of angry people doing stuff out of spite.

[abrakamowse]

The big lesson here:

https://www.marketwatch.com/story/why-you-should-never-short-sell-stocks-2015-11-19

[Jennjenn]

Robinhood is banning traders from buying more stocks from GameStop, amc and others today. 
This is their message this morning... 

 

[Lyubov]

16 minutes ago, Jennjenn said:

Robinhood is banning traders from buying more stocks from GameStop, amc and others today. 
This is their message this morning... 

 

seems kinda shitty idk

[Jennjenn]

14 minutes ago, Lyubov said:

seems kinda shitty idk

Very shitty. They’re going against the small investors. They have officially sided with the hedge funds. 
 

 

[abrakamowse]

47 minutes ago, Jennjenn said:

Robinhood is banning traders from buying more stocks from GameStop, amc and others today. 
This is their message this morning... 

 

And that’s not influencing the “free” market???

They deserve what is happening.

That’s what you say @Leo Gura that it will come back and bit them in the ass. 
 

It’s happening and it’s biting Wall Street thieves asses!!

?

[Jennjenn]

Mark Cuban giving some great remarks and insights, calling the situation a “great equalizer”...

“It’s not the first time low float or heavily shorted stocks have been targeted,” Cuban said on “Squawk Box.” “There are many hedge funds that have made a lot of money over the years targeting heavily shorted stocks. I don’t think this is anything different. It’s just the people who are making the push aren’t who we expect them to be and so that’s why I like it.”

https://www.cnbc.com/2021/01/28/mark-cuban-despite-market-concerns-sees-reddit-crowd-as-great-equalizer-on-wall-street.html

 

Some Republicans comments:

“Republicans in Washington have a warning for Wall Street: Be willing to scrutinize yourself. This not going away, and it is probably bigger than you think.”

https://www.cnbc.com/2021/01/28/gamestop-republicans-warn-of-trump-style-populist-revolution.html