I was at that game! Freaking beating the #1 team in the nation at halftime, only at RU.
OT: Stock and Investment Talk
- Thread starter RU-05
- Start date
Not sure. I started buying via EHTE and GBTC. Not into the digital wallet thing. Keep it simple!
Interactive Brokers restricted GameStop trading to protect the market, says Chairman Peterffy
Did I tell you? They are going to spin this as “protecting the markets”. In reality they are giving their hedge fund buddies an escape hatch.
Did I tell you? They are going to spin this as “protecting the markets”. In reality they are giving their hedge fund buddies an escape hatch.
RH trying to bail out the water:
www.cnbc.com
Robinhood CEO says it limited buying in GameStop to 'protect the firm and protect our customers'
Robinhood on Thursday restricted trading in thirteen equities, including GameStop and AMC Entertainment.
We are likely dealing with an example of Hanlon’s Razor - never ascribe to malice what can be attributed to stupidity.
In the case of Robinhood, granting unsophisticated investors using relatively small sums individually access to “free” trades, options and margin may not have been a good idea. All while selling their trade information to institutional high frequency traders. Who knew?
This narrative that hedge funds have lobbied regulators to intervene on their behalf is likely a trumped up conspiracy theory, nothing more.
Not lobbied regulators, lobbied RH and IBKR. These small investors know the risks stop treating them as though they are stupid.
So...Robinhood got too big for its britches and couldn't clear orders fast enough, and couldn't manage the capital requirements needed to legally handle all those orders? In an era of HFT?
They sure won't going forward either...their entire customer base needs to walk away.
They sure won't going forward either...their entire customer base needs to walk away.
I’ve seen no evidence that they appreciate the risks, and the idea that hedge funds lobbied RH is equally dubious. But the stupidity I referred to was of Robinhood, not it’s customers. You think they drew down credit lines just’ cuz?
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GameStop and AMC are in the spotlight only because of the short-term violent swings and mass public collusion by retail investors. This entire scenario has been playing out all year right before our eyes with Tesla yet nobody said a peep. The Robinhood traders were so enamored with Musk that they started crushing the shorts to the tune of $38B in losses in 2020. Then, when Tesla went on a massive run the big money jumped on the other side and helped drive the stock to almost $900 p/sh. Tesla’s PE is an insane 1,329 and the company only made a profit thanks to regulatory credits not selling cars. But you won’t hear anyone like Kramer talk about it because they are all in on the trade. This same scenario played out with Disney too. The Robinhood traders all love Disney from their childhoods and caused the stock to double with the help of funds riding the wave (must be nice to have that RH user data!) notwithstanding the fact that Disney is bleeding money from their parks and cruises, getting killed due to the lack of theatrical releases, no licensing revenue after pulling content from other platforms, cut its dividend, etc. - yet the stock more than doubled simply because they added a boatload of Disney+ subscribers that they lose money on?! Gimme a break. Oh, and by the way, Disney’s PE is about -110! I hope regulators shred RH and uncover how these funds are all buying user data to get insight on trends they can ride and pump stocks higher.
Just so happens that Robinhood’s revenue comes from Citadel. The same Citadel (well not the same, same owner, 2 different companies) that lent Melvin Capital 2.7 B to short Gamestop.
all that said, I’m starting to like 2021. We have a vaccine in sight and finally have something both Dems and Republicans can rally around.
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You are so right. The average investor does not realize how badly they got screwed today. I have heard so many of my buddies tell me in the past few weeks, they are jealous that they didn’t think of this short squeeze in GME. I guarantee that if Carl Icahn had thought of this squeeze, there would be no halting GME.
Don’t know if you are being sarcastic or not. If things were left to play out the Gamma would have happened. I’m not sure how this plays out now that RH, IBKR and regulators are injecting themselves into this situation with GME. You never hear about regulation when hedge funds are stripping companies of their assets and putting them out of business it’s only when finally once in a blue moon the little guy gets a win against the billionaire hedge fund guys, then all of a sudden we need new regulations to “Protect investors” and “maintain orderly markets”. It’s a joke.
The Citadel angle keeps getting worse and worse. If nobody ends up in jail it will confirm what we already knew - big money runs the world!
The Citadel conspiracy narrative sounds interesting but is far less compelling when you consider the simpler and more plausible explanation that 1) RH denies it (and even if you just say that’s BS) 2) RH ran afoul of regulatory capital requirements and was forced to borrow under their credit lines.
#2 seems the more plausible reason. Heard RH CEO on tv who danced around the questions but did seem to slip in some “capital requirements “ statements. This doesn’t explain why TD and other brokers halted trading also since I can’t believe they would have capital issues.
Yes but clients that weren’t buying on margin were blocked also, i.e., my son (on TD)
Oddly they were the top app purchase(or whatever) the past couple days. Granted today probably changed that.
Legit question, why would buying of GME stock require more capital then any other trade?
Or why do they need capital for any trade? Is the money not already in the account of the investors?
When I started this thread I wanted to just talk stocks and investing, intending to stay clear of politics, conspiracy theories, and other such trappings of todays society.
And then this happens, I mean, it's fascinating and all, but it has overwhelmed the discussion.
And then this happens, I mean, it's fascinating and all, but it has overwhelmed the discussion.
FYI - my new shiny crypto portfolio is up a nice 12% (likely higher as of now). Rocking the GBTC, ETHE, BLOK, and HIVE. Still looking for lottery ticket #2.
There was an API from RH where you can buy the trend data and use to to trade off. All last year there was a website you could go to to get all that info and how this all started
I bought back in on the miners on Monday and got hammered for a couple days. Big day today obviously but need another big one to get even.
I think if I were to buy an actual coin, it would be Chainlink. $23. Up 100% on the month. 700% on the year. Mulling it.
Meh, it's a interesting investment story. It will be over sooner or later and life will move on. Wed was such a great buying day. I fired all of my ammo at ARKK, IRDV, and my 4 crypto items. However, my first of two annual bonuses hits tomorrow, so if it's a down day, let's party! LOL.
Take a hard look at HIVE. I think it compares very nicely with RIOT and MARA. I am watching those two as well, but unlikely to buy (since I have them covered in BLOK). I'm trying to learn about other types of companies that are in the crypto value chain besides miners.
I was just being dramatic, it's kind of funny really. Hope it doesn't go on too long though.
I heard that happened on RH. But have not heard any other trading firms do that. I can confirm ML, WF, and Etrade did not. Anyone else confirm on TD.
Trust me. There is an investing lesson here. People will learn it 2 to 3 months from now.
Only on cars, not trucks. Here is a secret, they don’t sell many cars compared to SUV and trucks.
I wonder if there are people who really believe GME will continue to be trading at these levels.
I tend to believe all the reddit guys know where this ends up. Though not sure how many of them think they will be the ones holding the bag.
Were capital requirements by RH not met because the price of GME had gone parabolic in the face of mounting buy orders? The out of money options writers needed to buy shares to cover positions, the shorts had to buy to cover positions, the world was buying, and there weren't enough to go around? RH didn't have enough liquidity to guarantee orderly clearing of all these trades flying across their desk?
I have no positions in any of these stocks, but I'm fascinated by it all.
I have no positions in any of these stocks, but I'm fascinated by it all.
GM to go all-electric by 2035, phase out gas and diesel engines
GM launched its first long-range electric car, the Chevy Bolt, in 2016.
www.nbcnews.com
Google Jtung, Google.
But why not halt options, or margin trading and still allow buying for those that have money in their accounts? do they front the money for the account?
Same boat as you as per not having any of these positions(though I have owned SNDL for awhiles which was amongst those halted) as well as the fascination part.
Interesting. The announcement said light-duty vehicles.GM to go all-electric by 2035, phase out gas and diesel engines
GM launched its first long-range electric car, the Chevy Bolt, in 2016.
Google Jtung, Google.
It’s up 61% in after hour trading. I’m guessing yes. Funny they get the short squeeze but doesn’t believe in the opposite.
I am not being sarcastic. Even though I make millions of dollars per year in the hedge fund business, what happened today was just wrong. It helps me personally, but not good for the people in general. Wall street picked winners and losers today without allowing the free market to do its thing. We aren't all bad people.
I can guarantee you that he would have. Remember HLF??? I can't tell if you are ignorant or just not that smart.
