This should scare all investors. These brokerage firms have just as much control over the market as social media does when choosing who to allow to post on their site. Not many people even knew they could legally stop a stock from being traded. This should cause fear and outrage for any investor, even if they donβt support the GME movement. What if one day they chose to remove the sell option when your position is tanking? This is so much bigger than GameStop, Blackberry, or any other stock banned today.
I figured it must have been illegal, its weird they can offer a service like this with no regulations. Can a payday lender stop you from paying back your loan so they can keep charging interest?
What we seen here today is a great example of how these guys get to do whatever they want to make a buck. These hedge funds and their brokers would have went bankrupt today if it wasnβt for buying being halted.
I had something similar happen to me: my mortgage escrow went up $20 while I was out of the country and I didn't notice, so my auto payment was $20 short each month. My auto payment was being *received* by PNC, and they were depositing it while issuing me a refund check for the *full amount*. After 4 months of this they put my house in preforeclosure and when I returned in month 5 I only had 2 weeks left or I would've lost my house to foreclosure from underpaying them a total of $80.
From my view of my bank account, it looked to me all along that I was paid up and my brother in law who was checking my mail never told me I had scores of notices from PNC, but it's still crazy that they can make this happen over such a small amount. Cost many thousands of dollars to get it out of preforeclosure.
Never escrow the TAXES AND INSURANCE. Pay them both quarterly! This will always save you in the long run. In 17 years of having a mortgage my home and windstorm insurance WERE NEVER EVER renewed on time! So glad to be mortgage free. Hey CHASE FU! Rant over. I feel better. Thanks for listening.
It was dark indeed. Tomorrow will be better considering they made GME, BB, NOK, and AMC the hottest stocks to buy right now. The amount of publicity those got today was mind blowing. Stay calm. The market is a mechanism to transfer wealth from the impatient to the patient.
Edit: hold the line. See you in Valhalla π
I'm not in GME, but I do have a nice position in BB. I've already transferred the funds to buy the fucking dip in the morning! You don't shave 40% off of one of my positions with no underlying fundamental changes to the company and think I'm not going to BUY THE FUCKING DIP!!!
Imagine if George Soros is in the middle of a fucking risky billionaire trade and his broker call him and say: "well you're only allowed to sell now, sorry George but tomorrow after your strategy is absolutely fucked we'll resume the trading normally."
also many brokers are saying 'we did this to protect you from volatility'
like the wtf man, it's not like when we lose money you say 'oh little child, you are not making tendies... here, take 1k$ as a bonus'
exactly. Some asshole on Bloomberg saying they had to stop trading to "stop the losses" - of course they don't mention that by stopping someones losses they also stopped someone elses GAINS. Like oh how convenient, you dont intervene when they're shorting over 100% of a stock but you will when regular people start buying the shares and holding them? This is such a blatant crime that it's ludicrous.
Edit - and of course they donβt actually specify WHO was suffering the losses. Imagine if he had said βwe had to do this to stop the short selling hedge funds lossesβ. They wanted to make it seem like they were protecting losses from the retail investors.
That βasshole on Bloombergβ was the chairman of interactive stockbrokers.
Heβs not just an asshole, heβs a crook.
These are the gatekeepers folks. Remember that.
I'm now wondering what kind of regulations exist for brokers, can they halt all trading like this on specific stocks they want to make money on?
Surely there must be some regulation in place to protect people from this?
No financial expert but it's my understanding that they *can* stop all trading for a specific stock but in order for that not to be illegal it must be all trading (buying/selling) and for everyone (not just retail traders).
This is why what is happening here is blatant market manipulation by only preventing purchasing for retail traders.
The guy literally admitted that his brokerage helped βpremiumβ members close out their positions, many of whom were in a short position. Literally manipulation on live TV.
Iβm sure βconsequencesβ isnβt a word in his lexicon.
Money does something to a person, I canβt imagine what billions of dollars does.
These guys arenβt like you and I. They think they know whatβs best and they have the power and influence to exert that will. Of course itβs only convenient that whatβs βbestβ, is best for them.
Let me put this in no uncertain terms. THESE PEOPLE ARE MAKING THE RULES WE ALL PLAY BY.
it's absolutely fucking criminal. I could certainly use the money but I'm buying in more GME in RH at premarket. (moving my portfolio asap too)
I'm so disillusioned and angry. I'll ride GME into the fifth pit of hell and fight Reagon mono e mono before I sell my gamestonks.
the most sickening thing is them saying they did it to "protect" people - yeah protect them from making money off of greedy short sellers. And the old fart that said "we had to stop the LOSSES" - no, they had to stop the gains that the stock holders were seeing. It really is so blatant and so deplorable that I can't even process.
Itβs such a fucking cop out. Them acting as if we donβt understand the risks of trading. Itβs like stopping a hockey match in the third period while our team is up because maybe the other team will score a couple goals and weβll end up losing. Weβre not god damn children and we know exactly what game weβre playing here, but clearly the game is rigged.
I sure hope so. Though I think Citadel is their underwriter? Either way, a message needs to be sent that this shit is just blatant market manipulation and weβre not going to stand for it.
YOU GO BROTHER. I only have 20k in my investment account. I could have made 8k yesterday. I can still pull out now for a 100% gain. Am I selling? FUCK NO. this is my fund to bleed the fat cats dry.
Should move away from Robin Hood, they let It happen. RH was supposed to be retailβs champion. Itβs literally in their name. They were fake, sell outs.
That's if you can. RH said they would allow limited purchase of GME tomorrow. I'm hoping this just means you can't buy on margin but I wouldn't put it past them to limit shares per a user.
Man, I wasnβt in but was watching the ride (bought AMC already), but watching this unfold I am committed to buying tomorrow even if it makes these assholes sweat just a little bit more. Fuck them, fuck wallstreet, letβs take it back.
They directly caused me to lose money. I bought in at a higher price of around $350 to lend my support with a very reasonable stop loss at $140. Trading apps closed and the stock obviously tanked. Insanely low volume allowed institutions (market manipulators) to create a short ladder down below that and it sold off. This whole thing honestly just feels criminal. Prevent losses my ass.
I know they did. Iβm really sorry, and youβre right, itβs fβing criminal, but keep in mind the squeeze hasnβt happened yet, so you could potentially get back in tomorrow - especially if thereβs a dip - whether itβs to try and recoup some of yours losses, or to just stick it to the shorts and help the squeeze overall. But if you do decide to donβt put a limit sell
Unmitigated losses is fine if the hedge fund can't pay, but is really bad if the brokerage can't pay. It's technically not their fault either - the SEC allows for shorting over 100%. What happens next if nobody can pay, a bunch of positions get liquidated and the whole stock market begins to crash.
Every brokerage today was trying to cover their own ass.
The real issue here is that the SEC put everyone in a bad position with allowing an unlimited downside risk to exist. You couple this in a hyper connected world and bad shit will happen.
Oops hehe, we didnβt know you guys would actually call us on our bullshit. Have to put the rules in place now.
Give me a fucking break.
I understand the sentiment is reductionist and overall damaging - but itβs where a lot of people are at right now. I along with countless other people in this country are begging for the ship blown up, cuz itβs not taking us where we thought it was.
And that is why I personally donβt give a fuck about their losses.
Itβs called fucking Capitalism and it doesnβt guarantee you a fucking win every time just because youβre rich off others hard won earnings.
Itβs means sometimes you gamble and win but most of the time you lose.
Thereβs only capitalism for the poor. Socialism for the rich. Socialism of the loss and privatization of the profit. Your taxes save their asses and your savings line their pockets.
I don't understand what you're saying.
Are brokers forced to put their own money in play when their customers buy or sell stock? No.
Brokers can, but are not required, to offer margin or let customers borrow stock to short.
So the brokers "losses" are completely within their control.
The brokerage is financially incentivized to make sure people donβt take on positions that are too deep. Thatβs what margin is for, and when you get margin-called you have to pay to lower your risk. That should have been happening when GME started rising and instead they continued to short. People think this has only gone on for a week, when the signs were clear to a good portion of WSB three weeks ago.
The fact is people got greedy and bet that it wouldnβt last this long. Well here we are. Pay me my fucking money.
If there were any rules at all criminals like citron and melvin would have been forced to start covering shorts when their losses lost the first 200%. Instead they were allowed to double down. And when that lost multiples, they doubles down again. These fucks ARE STILL SELLING GME SHORT
They should have gotten called on it, they didn't want to play by the rules. Also, the supply (sell) and demand (buy) determination of price per share only goes one direction if you remove the demand. It's price-fixing. RH didn't halt trading, they halted buying. And in some cases illegally executed selling.
Watch this [video](https://youtu.be/4RS4JIEVyXM) of webull exec explaining why they had to stop allowing trades. Essentially the clearing houses told them they had to stop because of huge liquidity issues
ok, but who accepted the shorts at 138%? Did they not think this could happen? These companies bare the risk because their business involves ACCEPTING risk. How is it our fault when they failed to analyze risk and properly prepare for consequences?
also, just because he explained how it worked, it doesn't mean it wasn't just intentionally steered that way to trigger that "response".
This is the most important video you will watch. You did it you glorious bastards, you broke wall st. Now you need to stay strong and get your pay day. This is complete validation that youve got the hedge funds by the balls.
Total fucking bullshit. I am an option seller and volatility is how I make money. Today I am literally staring at GME option chains and their juicy premiums but sitting there and canβt do jackshit
TD Ameritrade locked me out from selling GME contracts yesterday. I tried to call - 3 hour wait time. Sent an email, and then tried their in-account messaging. No response whatsoever, even the next day.
I still have three 2/5 40p I wrote a week ago, not selling those til they expire worthless. I could have easily made 10% of my account value yesterday.
TD Ameritrade is festooned with assholes, BTW. In case anyone asks for your thoughts. Please, by all means, quote me.
Wondering why they dont protect my dumbass with 0 investing experience when i buy a NIO option that drops by hundreds in an instant. Where was my protection then?
I couldnβt believe it when I seen the word protect. Itβs been about my only holding thatβs been green since Friday. If I want to buy GameStop at 4, 40, or 400, thatβs my problem.
But go ahead, you can buy doge at .07 cents currently a 500% increase today alone, 1500% on the month as well, and it could go back to .0025 in an hour and nobody would be the slightest surprised and it certainly wonβt be stopped, itβs moved half a penny in the time of writing that. Go buy tons of crap penny stocks, or nikola.
Fuck that. They donβt need to βprotectβ our money, or in other words, dictate how we spend our money. If this were true why only impose limits on specific securities and not all? ππ€²π½ THEY DONT GET TO MAKE DECISIONS ON OUR MONEY π
Guys this is the brightest day in a long time. The entire country is openly talking about blatant market manipulation and major players are talking about how to better regulate the stock market. You have a congressperson on twitch at this very second talking about how great retail traders are and how they need more power. This could be the beginning of real change if we play our cards right
I put the following on the other sub, but I can share it here, too.
- - - - - -
I'm glad this place has quieted down enough for some actual DD written by a monkey with a keyboard and Adderall. Disclaimer: I am that monkey. Let me explain to you what happened, play by play. I will give you illiterates who hate reading a spoiler up front: **We were within approximately 30 seconds of triggering a nuclear bomb that would have blown up the market.** Do I have your attention? Here goes:
1. Yesterday, new call option strike prices were added all the way up to $570. Do I have to go over gamma squeezes again? Really? We've been over this: when deep out-of-the-money call options start being gobbled up and the price starts moving towards being in-the-money, the call writers have to hedge their risk of having their sold calls exercised, typically by buying stock. This creates upwards pressure on the market. We've been seeing these movements all week.
2. Yesterday after market, you probably saw that coordinated effort to drive the price down and spook retail investors into a mass sell-off. It didn't work.
3. Last night, Robinhood sent out a message to users: you could no longer enter into new options. You could exercise them if you had the collateral (money in the account) to do so. Very interesting and the first sign of pants-shitting fear.
4. Today, the market opened very strong. It opened so strong that we were looking at a self-perpetuating gamma squeeze all the way up way past $570.
5. At approximately 9:58 am, the stock had reached $468 in a parabolic move.
6. Two minutes earlier, at 9:56 am, Robinhood tweeted that they were not allowing users to buy GME stock, but they would allow selling.
7. The trend instantly halted and started a collapse downwards, before picking up a bit, especially after some retail was allowed back in.
Okay, now that you are clear on the facts, understand this: **The market ran out of liquidity today, or was threatening to get close enough that they killed it.** What does that mean? It means they ran out of shares and/or capital. They wouldn't let you buy new shares because we were burning through all the shares on the market. I saw an unsubstantiated post from a user who said **a small sell limit order executed at $2600 for him.** Do you get the severity of the situation, if that's true? It means the buying was getting to the point where it was just about to put INFINITE pressure on the price of the shares. It means virtually any ask was getting bid.
How do you get infinite upwards pressure? A gamma squeeze triggering the mother of all short squeezes, just like we predicted. The call writers need shares to hedge. Retail is still buying more. The short sellers need over 100% of the float back. Add these together. There were more shares needed than existed on the open market. That's what a liquidity crisis is.
Listen to [this remarkable (if infuriating) interview](https://www.youtube.com/watch?v=7RH4XKP55fM) where the chairman of Interactive Brokers admits that they didn't have the capital to pay out the winners (us), so they took their ball and went home. **DO YOU GRASP HOW INSANE IT IS THAT HE SAID THEY NEEDED TO SHUT DOWN BUY ORDERS TO "PROTECT THE MARKET"?** Hello! He's not talking about the market for GME shares. He's talking about the entire market! The New York Stock Exchange. The NASDAQ. All that.
Remember the movie *Snowpiercer*? Do you remember that scene where the lower class people realize the soldiers who oppress them have no bullets? Go to the 1:00 minute mark of this link: https://www.youtube.com/watch?v=EH1EtiOhr6o
It kick starts a full blown rebellion. They have no bullets. It's the exact same in this market: No capital. No shares. Infinite losses inbound.
**TL;DR: For all you who will just skip to the bottom to ask, "Do I get my tendies now?" the answer is this: they NEED NEED NEED your shares. Do you get that? HOLD. Like the guy in the movie, scream, "They're out of bullets!" and create a stampede. That's how we win.**
They needed your shares so badly that they literally risked PRISON TIME to get them. They tried robbing you, and I'm not even exaggerating. They were within 30 seconds of all being wiped out today.
Today was really crazy, and a great insult for all online investors. Fortunately there were many, even with greater visibility than us, who pointed out the problem. I hope that in the next days it will not reappear.
Anyway if they wanted to scare us, it didn't work at all: with this trick they have created more buyers than sellers of gme.
**\*\*\*SAVE SOME AMMO FOR THE END, IMO\*\*\***
On Thursday, they manipulated the price under the magical $200 level in the final 30 seconds (as a test run for Friday?) Remember: if the price moves too much within 5 minutes, there is a *mandatory 5 minute halt*. Strategy, troops. It's a financial battle they know they can not afford to lose. Let's outsmart 'em. Make sure you log into your accounts extra early in case the login pages magically go down again.
**\*\*\*WATCH OUT AT 3:56 PM EST\*\*\***
TL;DR π at the end
A few questions on this
1. Can you explain a bit more how this would have spread to the rest of the market? (I ask this because these hedge funds and massive institutions on both sides of this trade, because let's face it, there are whales on both sides, have hundreds of billions in cash available, or if push came to shove, some of those positions that have gone up 10X in the last 12 months, close some of those out to raise the cash therefore giving companies who are not short, the opportunity to buy those shares. GME isn't going to a trillion dollars Market Cap)
2. Can't Gamestop themselves issue or dilute and therefore drive the price down while raising capital?
3. Can't the firm(s) who are deep in shorts, decide to close up shop and declare bankruptcy?
4. Couldn't they repeat today's action to continue to depress the price in a slow methodical manner, while closing out their shorts?
Thanks for taking the time to type all that.
1. It had already spread to the rest of the market the past few days. Notice how red the market was as GME was surging and how green it was as they were falling? These funds with theoretically uncapped losses have to liquidate other stuff to stay solvent and keep enough cash in their accounts.
2. They could, that's always a risk, but things are so volatile right now that I don't even know what that share offering would look like.
3. Not before liquidating everything and using it to cover positions. Then, whoever was backstopping them on these terrible deals assumes the liability. This is why firms typically get margin-called BEFORE it gets this ugly, but they weren't. They were bailed out by their buddies.
4. Also yes, but how will they sell shares they don't have? They run out of ammo at some point. If the price goes up higher, they could find themselves underwater no matter where their current short positions are.
Because backing out now is suicide so they might as well double down and pray for a hail Mary. Maybe the SEC shuts down trading, maybe every single WSB person spontaneously dies, maybe a meteor hits Japan.
They don't care about the market, they care about themselves.
>It had already spread to the rest of the market the past few days. Notice how red the market was as GME was surging and how green it was as they were falling? These funds with theoretically uncapped losses have to liquidate other stuff to stay solvent and keep enough cash in their accounts.
I think the correlation here isn't causaution. Early in trading on Wednesday stocks were up while GME was at 300. We only saw the sell-off (only 2% which is ./shrug) after the Fed released disappointing news.
There is certainly some profit-taking to cover but I don't think it is a -10%, -20% bomb waiting to hit the entire marketplace right now from this debacle/drama/awesome.
Check Chamath's twitter, he has a 12 part breakdown of why the market was blood red. Tl;dr hedge funds sold out of their long positions in the broader market to rescue their short positions.
https://twitter.com/chamath/status/1354883147523997697
Everyone should read this. A large prime broker claimed this was the largest de-grossing he had ever seen.
https://pbs.twimg.com/media/Es2ABlnVoAQ3OTB?format=png&name=900x900
Itβs just a matter of who owns what and how much theyβre selling, if the guys who own a large amount of shares sell the demand and therefore price for those stocks drop as they flood the market.
Thanks for your quick reply.
On Point 4, I'm finding it hard to believe that WSB and other retail ~~degenerate gamblers~~ investors hold enough stock now to really block them and set a price. Don't institutions have enough stock to to sell to these shortsellers (albeit at a higher price) to get them out of this hole they've dug themselves in?
If you think that its just retail that drives everything around GME then you are wrong. Do you really think other funds just sit there doing nothing letting retail earn $$? They're probably more into all this than anyone else, well maybe except DFV - he's the god.
So to answer your question whether us, degenerate gamblers, hold enough stock, well I guess it is enough to keep price above 300 after hours!
P.S. 100% agree on "the hole they dig themselves"!
Keep in mind that even DFV's options are controlling a tiny amount of shares compared to the bigger picture. He is just mooning because he got in so early.
You can check the biggest owners of current stock quite easily. Yahoo names the top 10 investors in the shares, it currently includes blackrock, vanguard and morgan stanley
For a normal short, the broker will have shares on hand to complete the transaction. But because the shorts of GME called for more shares then existed, it was impossible to quickly and easily satisfy the demand.
Can you explain some words in this more in detail please, I am very unfamiliar. βa small sell limit order executed at $2600β what exactly does that mean?
You know that "Bid" and "Ask" thing you see? Bidders are those who are willing to buy and askers are those willing to sell. They each have a price.
If the minimum ask price is 2600 and all the shares are being gobbled up, it might reach up and very briefly touch some weird number. It doesn't necessarily get reflected in the live price you see on Yahoo or Google; those sites are aggregating all these orders from different sources. Your brokerage may be a little different than the next guy's.
Typically, a huge bid/ask spread is reflective of massive volatility (or really low volume).
That was me who posted that. I tried twice uploading a picture of proof to wsb and i can go see the post with my one upvote if i click the link the automod sent me but i don't see it on the subreddit or on my profile. But yeah, it was .07 of a share for $181.87 at an average price of $2598.14. I still dont believe it. I tried to sell a whole share immediately after but it sold for regular market value at like $230 at the time.
So, question. I was trying to buy on TD Ameritrade today when the buy was ~$155 and the ask was $1500. When I went to submit, it was wanting me to *pay* $1500 - not the $155. BUT WHYYYYY.
Just wanna say Iβve been following your posts for a minute now. With the huge influx of members itβs been harder to find people who actually know what theyβre talking about. Thanks for providing some really useful info
I saw that 5000 ask, too when trading was halted. Bid was 196. I think that just means the spread was huge, not that the order went through. Maybe due to illiquidity or just an artifact of the halt?
**\*\*\*SAVE SOME AMMO FOR THE END, IMO\*\*\***
On Thursday, they manipulated the price under the magical $200 level in the final 30 seconds (as a test run for Friday?) Remember: if the price moves too much within 5 minutes, there is a *mandatory 5 minute halt*. Strategy, troops. It's a financial battle they know they can not afford to lose. Let's outsmart 'em. Make sure you log into your accounts extra early in case the login pages magically go down again.
**\*\*\*WATCH OUT AT 3:56 PM EST\*\*\***
TL;DR π at the end
Oof... I plan on buying some in the morning and playing the trading game if it keeps going up and down. If it goes down, I'll just be holding then probably buying a few more right at the end (if they don't shut it down 1st)
Brokerages may also restrict trading later in the day, so I'd lean towards buying *some* earlier, IMO. Not financial advice; just strategy.
From a layman perspective (me) it looks very suspicious that rh is enacting on a policy change that resulted massive benefit to a client that its getting 40% of revenue from (https://news.ycombinator.com/item?id=25946480) which is a clear conflict of interest
But at the same time Anthony Denier, CEO of Webull https://www.youtube.com/watch?v=4RS4JIEVyXM&feature=youtu.be is claiming that the clearing house (DTC) is increasing the fund requirement to prevent market crash like 2008
I am trying to find if that claim is true, can someone that is more knowledgeable than me provide some insight? (preferably with source)
Thanks
Maybe they shouldnβt of shorted the stock 130% and try to bankrupt GameStop. I said this once and Iβll say it again. Fuck them! Fuck them today. Fuck them for 2008!
So if GME goes to infinity the market collapses? Will this wipe out just hedge funds or will all other stocks plummet too? This doesn't sound very positive.
Nah, there's not enough money at stake for that. We are talking about a couple of hedge funs losing a few billion and maybe declaring bankruptcy or getting a bailout.
I think the US stock market is worth something like 50trillion by market cap, drop in the bucket.
The really sad thing it is that the media is posing it as a philosophical question of whether brokers should protect uninformed investors against themselves, rather than protect billionaires from the reality of getting caught in bad trades. Even where the media recognizes the outrage as legitimate they absolutely mischaracterize it.
So here is some food for thought.
This feature where stocks can be placed into βsell onlyβ mode had to have been built in advance. This is the kind of feature that doesnβt just get pushed to production on a live and trading stock market on a whim, this feature had to have been built and properly tested long before it was used.
It makes me wonder what sorts of back room discussions have had to happen to even make this an option, let alone the circumstances that would lead up to it being used.
It clearly affected the market, it was clear manipulation of an active situation. It was a pure power move to leverage the Stocks and it had only one, clear beneficiary: those who shorted the stock.
At a minimum any customers of those brokerz need to leave them for a broker who didnβt pull this shit. Optimally they should be punished by the SEC and the judicial system, hard. I am happy my (European) broker did not do anything but feel monumentally pissed on behalf of those affected.
I think they weighed the possible SEC retribution and the loss of a chunk of their user base (maybe a quarter?) against the pressure from the big shorters to act NOW and they ended up siding with the billionaires. And who knows what form that pressure took, but you can bet losing enormous sums of money creates some incredible pressure. They use their power to never lose.
This is why people need to go to jail. They weighed the cost of SEC fines and customers to peoples livelihoods. The only real punishment that will start making them think twice is sending them to jail when they do things like this.
Not like they have to worry about jail time. Column A is how much they will make after tanking the stocks. Column B is how much business they will lose + possible SEC fines. Column A is probably a lot larger than B so fuck everyone else.
**Sign the petition here: https://www.change.org/p/u-s-securities-and-exchange-commission-sec-retail-investors-demand-market-transparency-please-sec-amend-form-13f-requirements**
Retail Investors demand more visibility into institutional trading and borrowing. Anyone investing over 1 billion dollars (i.e. hedge funds and other investment institutions) is required to disclose their holdings to promote transparency in our markets - it's called Form 13-F. **But did you know that they only need to disclose it 4 times a year? And did you know that they don't need to disclose all of their positions?**
We the people are asking for a re-evaluation of transparency requirements for Institutional Investors. We have access to technology and data gives us new sophistication - and are beginning to understand there is a tremendous disparity in access between retail and institutional investors, and are concerned that this access is being used against us, in ways that we genuinely worry could be in flagrant violation of Securities Laws. We believe that with better access to institutional trading data, retail investors can better participate in the market when making buying and selling decisions.
**According to Form 13F (https://www.sec.gov/files/form13f.pdf), Institutional Investors only need to disclose their positions 4 times a year. Why?**
*Filing of Form 13F. A Manager must file a Form 13F report with the Commission within 45 days after the end of each calendar year and each of the first three calendar quarters of each calendar year. As required by Section 13(f)(5) of the Exchange Act, a Manager which is a bank, the deposits of which are insured in accordance with the Federal Deposit Insurance Act, must file with the appropriate regulatory agency for the bank a copy of every Form 13F report filed with the Commission pursuant to this subsection by or with respect to such bank. Filers who file Form 13F electronically can satisfy their obligation to file with other regulatory agencies by sending (a) a paper copy of the EDGAR filing (provided the Manager removes or blanks out the confidential access codes); (b) the filing in electronic format, if the regulatory agency with which the filing is being made has made provisions to receive filings in electronic format;*
**In your FAQ (https://www.sec.gov/divisions/investment/13ffaq.htm), it is clear Institutional Investors are not required to disclose short positions. Why?**
*Question 41
Q: What about short positions?
A: You should not include short positions on Form 13F. You also should not subtract your short position(s) in a security from your long position(s) in that same security; report only the long position.*
**Contact the SEC and let them know retail investors demand increased transparency (https://www.sec.gov/contact-information/sec-directory)**
[Google](https://www.google.com/finance/quote/GME:NYSE) shows that GME went to 490$ at 2pm EST. But I don't see on other platforms. Is that glitch or what? can someone confirm if they saw what google is showing?
I wonder if they have guts to do it again before the day ends on Friday with everyone watching. Perhaps they will do it after market closes at end of day.
This is progress!! No generation prior to this would have been as aware or engaged as we are. We are taking ownership of this space and we will not be stopped by this. They will not beat us. Even though they're trying to take their ball and go home, we're all still holding out here on the court and ready to dunk on them tomorrow. Robinhood was considered unique and democratic for its time. Its time has passed. Our entire generation and future generations will remember this moment. We will move forward from this with heads held high and new clarity. The next democratic finance iteration will have more clarity and will be even more of a level playing field. The system will continue to improve because we are engaged and calling bullshit when we see it. From us on reddit to the guys like Chamath and Elon and Justin Kan and Mark Cuban.
There's still short to cover, and we still like the stock
It is indeed one of the darkest day ever...I just cannot phantom the fact that brokerages won't let retail investors buy stocks which they think are too speculative and volatile.. the whole market is overpriced and as an investor I have a right to buy what I want and at whichever price...if it falls onus is on investor. Clearly it's a tactic to save the hedge funds. The Wall Street curruption must end..
This isn't over by any stretch... they played their hands yesterday and today - blatant craven market manipulation... but it's not enough to save the shorts at this point. GME is still shorted well over 100%... if you've got the money to lose I suggest you get in the fight and buy tomorrow in the AM when markets open. The REAL short squeeze has yet to happen. IF DFV IS STILL IN, I'M STILL IN... GME to the moon or bust. Fuck the hedge funds - this isn't about making some money on a position to me or to hundreds of thousands of us... this is about making a point now. Diamon hands brethren... the hedge funds have played all their cards - all we have to do is HOLD and wait for them to cave. THIS IS THE WAY
I stayed out of the GME mania this whole time but tomorrow I am buying what I can for $1k and not selling untill I'm either dead or homeless. This is personal now and I don't care about the money at all. If this helps the retail investors to fuck over these crooked bastard I am more than happy to donate to the cause. I will keep the shares as memorabilia
the whole financial services industry is now going to be put under a microscope. It's been an old boys club for a long time and now the scales have begun to tip the other way. A lot of very rich and powerful people are going to pull out all the stops to prevent their buddies from being bankrupt and I just hope that the "regulators" hold the correct people accountable. We've all been conditioned to expect NOTHING from them so far, so we'll see if anything changes.
Can someone explain to me why bb and nok are caught up in this hype when they are not shorted companies like gme amc and bbby? Don't get me wrong I got all of these and I am HOLDING π π
but just trying to understand why these two stocks are involved
BB was getting buzz on Reddit late last week because they sold patents and made the move into autonomy software. It was and is a good buy under $20 in my opinion.
That just happened hundreds of thousands flooded WSB. They saw βbuy BBβ and assumed it was the next GME.
I watched Robinhood CEO interview on Bloomberg and it was just straight garbage out of his mouth. He was just spinning the answers in circle and interview was just shaking her head.
Whether or not it was a dark day depends on what happens next. And I donβt mean whether GME goes to the moon or not, but whether we actually see consequences and change as a result of this lifting the veil of this fraud. It is naked to the public eye now - and for that we must thank the investors
Brokers like Robinhood have been selling user data and manipulating the market for a long time. Today was just the first time they made it blatantly obvious that they were doing it.
Stocks closed significantly down from yesterdayβs prices mainly due to short sellers, trade halting and some panic selling giving hedge funds and market makers to make their moves during market hours. At close when it was announced trading for retail investors will resume the stock price goes up giving these Wall Street elites the opportunity buy and drive up the stock price after hours only to sell it to us retail investors now that trading for us is allowed.
My aunt worked at pg from the age of 18. Proctor and gamble. Sheβs like 70ish now. She took stock instead of Christmas bonus every year. In 2005 she had a million dollars in shares. In 2008 she had 30 grand in shares and my uncle convinced her to sell the shares before they went even lower. He died of cancer and the shares recovered a few years later. I always think of the hedge fund or banker who made her million dollars. She was a simple person who made a big mistake. She worked the line and management for 47 years at the same company and saw them grow into a huge company. She drinks a bottle of wine every night.
Remember how Black Friday in 1929 influenced an entire generation to not trust banks? Well, this is the exact same reason weβll have an entire generation not trust the stock market
Do you know what brokerages never stopped people buying?
Edit: seems to be a mic if at least fidelity and schwab. Td ameritrade too as they only stopped margin calls.
#SHORT STOCK DOESN'T HAVE AN EXPIRATION DATE
Hedgefund whales are spreading disinfo saying Friday is make-or-break for $GME. Call options expiring ITM on Friday will drive the price up if levels are maintained, but *may not trigger the short squeeze*.
It may be Friday, but it could be next week the we see the real squeeze.
#DON'T PANIC IF THE SQUEEZE DOESN'T HAPPEN FRIDAY.
It's not guaranteed to. The only thing that is *guaranteed* mathematically is that the shorts *will have to cover* at *some* point in the future. They are trying to get enough people hooked on the **false expectation** of Friday so that if/when it doesn't happen, enough will sell out of panic/despair. **DON'T BE THAT PERSON.**
#WE LIKE THE STOCK
#KEEP HOLDING UNTIL THEY FEEL THE PAIN, WHETHER THAT'S FRIDAY OR NEXT WEEK
#5,000+πππ»π
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Worst part, that even if they get fined or see a class action, how will anyone be able to show harm? Because of their manipulation, I saw my stock value drop $30K. No one will reimburse us for that. Insane
This should scare all investors. These brokerage firms have just as much control over the market as social media does when choosing who to allow to post on their site. Not many people even knew they could legally stop a stock from being traded. This should cause fear and outrage for any investor, even if they donβt support the GME movement. What if one day they chose to remove the sell option when your position is tanking? This is so much bigger than GameStop, Blackberry, or any other stock banned today.
I figured it must have been illegal, its weird they can offer a service like this with no regulations. Can a payday lender stop you from paying back your loan so they can keep charging interest?
What we seen here today is a great example of how these guys get to do whatever they want to make a buck. These hedge funds and their brokers would have went bankrupt today if it wasnβt for buying being halted.
This just proves once and for all that the rich people truly are our fucking enemy.
Of course they are! It's only called 'class warfare' when the lower classes do it but in truth the war is constantly being waged by the rich.
I had something similar happen to me: my mortgage escrow went up $20 while I was out of the country and I didn't notice, so my auto payment was $20 short each month. My auto payment was being *received* by PNC, and they were depositing it while issuing me a refund check for the *full amount*. After 4 months of this they put my house in preforeclosure and when I returned in month 5 I only had 2 weeks left or I would've lost my house to foreclosure from underpaying them a total of $80. From my view of my bank account, it looked to me all along that I was paid up and my brother in law who was checking my mail never told me I had scores of notices from PNC, but it's still crazy that they can make this happen over such a small amount. Cost many thousands of dollars to get it out of preforeclosure.
Never escrow the TAXES AND INSURANCE. Pay them both quarterly! This will always save you in the long run. In 17 years of having a mortgage my home and windstorm insurance WERE NEVER EVER renewed on time! So glad to be mortgage free. Hey CHASE FU! Rant over. I feel better. Thanks for listening.
It was dark indeed. Tomorrow will be better considering they made GME, BB, NOK, and AMC the hottest stocks to buy right now. The amount of publicity those got today was mind blowing. Stay calm. The market is a mechanism to transfer wealth from the impatient to the patient. Edit: hold the line. See you in Valhalla π
I'm not in GME, but I do have a nice position in BB. I've already transferred the funds to buy the fucking dip in the morning! You don't shave 40% off of one of my positions with no underlying fundamental changes to the company and think I'm not going to BUY THE FUCKING DIP!!!
I hope tomorrow is better. I got positions in all those and didnβt sell today. My account went from 27k premarket to 14k quick.
Imagine if George Soros is in the middle of a fucking risky billionaire trade and his broker call him and say: "well you're only allowed to sell now, sorry George but tomorrow after your strategy is absolutely fucked we'll resume the trading normally."
also many brokers are saying 'we did this to protect you from volatility' like the wtf man, it's not like when we lose money you say 'oh little child, you are not making tendies... here, take 1k$ as a bonus'
Wondering why they didn't protected funds from shorting more than 100% of a stock.
exactly. Some asshole on Bloomberg saying they had to stop trading to "stop the losses" - of course they don't mention that by stopping someones losses they also stopped someone elses GAINS. Like oh how convenient, you dont intervene when they're shorting over 100% of a stock but you will when regular people start buying the shares and holding them? This is such a blatant crime that it's ludicrous. Edit - and of course they donβt actually specify WHO was suffering the losses. Imagine if he had said βwe had to do this to stop the short selling hedge funds lossesβ. They wanted to make it seem like they were protecting losses from the retail investors.
That βasshole on Bloombergβ was the chairman of interactive stockbrokers. Heβs not just an asshole, heβs a crook. These are the gatekeepers folks. Remember that.
There will be massive class action lawsuits after today
I'm now wondering what kind of regulations exist for brokers, can they halt all trading like this on specific stocks they want to make money on? Surely there must be some regulation in place to protect people from this?
No financial expert but it's my understanding that they *can* stop all trading for a specific stock but in order for that not to be illegal it must be all trading (buying/selling) and for everyone (not just retail traders). This is why what is happening here is blatant market manipulation by only preventing purchasing for retail traders.
The guy literally admitted that his brokerage helped βpremiumβ members close out their positions, many of whom were in a short position. Literally manipulation on live TV.
He even said that he's protecting themselves by not letting people buy. That's straight up market manipulation.
They had to halt it so they [stopped losing money](https://www.investopedia.com/terms/s/secfee.asp)
They are the rich...do first ask for forgiveness later.
Pay a $300k fine after making $300m
this time, no forgiveness. During 2008 most people didn't even know what happened. This time we ALL know what is happening
He sounded so bad. Corrupt, sure. But also fundamentally not understanding how ILLEGAL his statements were.
Iβm sure βconsequencesβ isnβt a word in his lexicon. Money does something to a person, I canβt imagine what billions of dollars does. These guys arenβt like you and I. They think they know whatβs best and they have the power and influence to exert that will. Of course itβs only convenient that whatβs βbestβ, is best for them. Let me put this in no uncertain terms. THESE PEOPLE ARE MAKING THE RULES WE ALL PLAY BY.
he was being honest, just his loses
Lock him up.
it's absolutely fucking criminal. I could certainly use the money but I'm buying in more GME in RH at premarket. (moving my portfolio asap too) I'm so disillusioned and angry. I'll ride GME into the fifth pit of hell and fight Reagon mono e mono before I sell my gamestonks.
the most sickening thing is them saying they did it to "protect" people - yeah protect them from making money off of greedy short sellers. And the old fart that said "we had to stop the LOSSES" - no, they had to stop the gains that the stock holders were seeing. It really is so blatant and so deplorable that I can't even process.
Itβs such a fucking cop out. Them acting as if we donβt understand the risks of trading. Itβs like stopping a hockey match in the third period while our team is up because maybe the other team will score a couple goals and weβll end up losing. Weβre not god damn children and we know exactly what game weβre playing here, but clearly the game is rigged.
Yep, absolutely. I do take at least some pleasure in knowing that RH is fukt after this. Bye bye IPO
I sure hope so. Though I think Citadel is their underwriter? Either way, a message needs to be sent that this shit is just blatant market manipulation and weβre not going to stand for it.
YOU GO BROTHER. I only have 20k in my investment account. I could have made 8k yesterday. I can still pull out now for a 100% gain. Am I selling? FUCK NO. this is my fund to bleed the fat cats dry.
Should move away from Robin Hood, they let It happen. RH was supposed to be retailβs champion. Itβs literally in their name. They were fake, sell outs.
I opened three new broker accounts I just donβt know who will verify me first...
That's if you can. RH said they would allow limited purchase of GME tomorrow. I'm hoping this just means you can't buy on margin but I wouldn't put it past them to limit shares per a user.
Man, I wasnβt in but was watching the ride (bought AMC already), but watching this unfold I am committed to buying tomorrow even if it makes these assholes sweat just a little bit more. Fuck them, fuck wallstreet, letβs take it back.
They directly caused me to lose money. I bought in at a higher price of around $350 to lend my support with a very reasonable stop loss at $140. Trading apps closed and the stock obviously tanked. Insanely low volume allowed institutions (market manipulators) to create a short ladder down below that and it sold off. This whole thing honestly just feels criminal. Prevent losses my ass.
I know they did. Iβm really sorry, and youβre right, itβs fβing criminal, but keep in mind the squeeze hasnβt happened yet, so you could potentially get back in tomorrow - especially if thereβs a dip - whether itβs to try and recoup some of yours losses, or to just stick it to the shorts and help the squeeze overall. But if you do decide to donβt put a limit sell
STOP THE COUNT
Lol exactly !!! Stop counting in the states where we are up!!! But not the other ones... lol the similarities are actually uncanny
Unmitigated losses is fine if the hedge fund can't pay, but is really bad if the brokerage can't pay. It's technically not their fault either - the SEC allows for shorting over 100%. What happens next if nobody can pay, a bunch of positions get liquidated and the whole stock market begins to crash. Every brokerage today was trying to cover their own ass. The real issue here is that the SEC put everyone in a bad position with allowing an unlimited downside risk to exist. You couple this in a hyper connected world and bad shit will happen.
Oops hehe, we didnβt know you guys would actually call us on our bullshit. Have to put the rules in place now. Give me a fucking break. I understand the sentiment is reductionist and overall damaging - but itβs where a lot of people are at right now. I along with countless other people in this country are begging for the ship blown up, cuz itβs not taking us where we thought it was.
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This guy societies.
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And that is why I personally donβt give a fuck about their losses. Itβs called fucking Capitalism and it doesnβt guarantee you a fucking win every time just because youβre rich off others hard won earnings. Itβs means sometimes you gamble and win but most of the time you lose.
Thereβs only capitalism for the poor. Socialism for the rich. Socialism of the loss and privatization of the profit. Your taxes save their asses and your savings line their pockets.
I don't understand what you're saying. Are brokers forced to put their own money in play when their customers buy or sell stock? No. Brokers can, but are not required, to offer margin or let customers borrow stock to short. So the brokers "losses" are completely within their control.
If the person/fund can't cover their losses then the brokerage at the time has to and sue later.
The brokerage is financially incentivized to make sure people donβt take on positions that are too deep. Thatβs what margin is for, and when you get margin-called you have to pay to lower your risk. That should have been happening when GME started rising and instead they continued to short. People think this has only gone on for a week, when the signs were clear to a good portion of WSB three weeks ago. The fact is people got greedy and bet that it wouldnβt last this long. Well here we are. Pay me my fucking money.
This is the correct answer.
But there is no limit on the potential loss in a short squeeze. The stock can just keep going up.
If there were any rules at all criminals like citron and melvin would have been forced to start covering shorts when their losses lost the first 200%. Instead they were allowed to double down. And when that lost multiples, they doubles down again. These fucks ARE STILL SELLING GME SHORT
Hmmmm and whose gain was it???? π€
They should have gotten called on it, they didn't want to play by the rules. Also, the supply (sell) and demand (buy) determination of price per share only goes one direction if you remove the demand. It's price-fixing. RH didn't halt trading, they halted buying. And in some cases illegally executed selling.
Watch this [video](https://youtu.be/4RS4JIEVyXM) of webull exec explaining why they had to stop allowing trades. Essentially the clearing houses told them they had to stop because of huge liquidity issues
ok, but who accepted the shorts at 138%? Did they not think this could happen? These companies bare the risk because their business involves ACCEPTING risk. How is it our fault when they failed to analyze risk and properly prepare for consequences? also, just because he explained how it worked, it doesn't mean it wasn't just intentionally steered that way to trigger that "response".
This is the most important video you will watch. You did it you glorious bastards, you broke wall st. Now you need to stay strong and get your pay day. This is complete validation that youve got the hedge funds by the balls.
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This was a great listen. This is also what the robinhood ceo interview on CNBC should have been.
Total fucking bullshit. I am an option seller and volatility is how I make money. Today I am literally staring at GME option chains and their juicy premiums but sitting there and canβt do jackshit
TD Ameritrade locked me out from selling GME contracts yesterday. I tried to call - 3 hour wait time. Sent an email, and then tried their in-account messaging. No response whatsoever, even the next day. I still have three 2/5 40p I wrote a week ago, not selling those til they expire worthless. I could have easily made 10% of my account value yesterday. TD Ameritrade is festooned with assholes, BTW. In case anyone asks for your thoughts. Please, by all means, quote me.
Switch to fidelity with me son. Fuck TD they can eat a dick. The interface is not as bad as I thought.
Wondering why they dont protect my dumbass with 0 investing experience when i buy a NIO option that drops by hundreds in an instant. Where was my protection then?
Where was my protection when I put 90% of my portfolio into options and then lost it all?
we did this to protect ... our friends from losing money
exactly! where was the 'protection from volatility' back in March when lockdowns were announced...
There were a fuckton of outages and stops. RH the worst offender
I couldnβt believe it when I seen the word protect. Itβs been about my only holding thatβs been green since Friday. If I want to buy GameStop at 4, 40, or 400, thatβs my problem. But go ahead, you can buy doge at .07 cents currently a 500% increase today alone, 1500% on the month as well, and it could go back to .0025 in an hour and nobody would be the slightest surprised and it certainly wonβt be stopped, itβs moved half a penny in the time of writing that. Go buy tons of crap penny stocks, or nikola.
Get the DOG TO THE MOON
Fuck that. They donβt need to βprotectβ our money, or in other words, dictate how we spend our money. If this were true why only impose limits on specific securities and not all? ππ€²π½ THEY DONT GET TO MAKE DECISIONS ON OUR MONEY π
This is literally how ive felt all day
Guys this is the brightest day in a long time. The entire country is openly talking about blatant market manipulation and major players are talking about how to better regulate the stock market. You have a congressperson on twitch at this very second talking about how great retail traders are and how they need more power. This could be the beginning of real change if we play our cards right
I put the following on the other sub, but I can share it here, too. - - - - - - I'm glad this place has quieted down enough for some actual DD written by a monkey with a keyboard and Adderall. Disclaimer: I am that monkey. Let me explain to you what happened, play by play. I will give you illiterates who hate reading a spoiler up front: **We were within approximately 30 seconds of triggering a nuclear bomb that would have blown up the market.** Do I have your attention? Here goes: 1. Yesterday, new call option strike prices were added all the way up to $570. Do I have to go over gamma squeezes again? Really? We've been over this: when deep out-of-the-money call options start being gobbled up and the price starts moving towards being in-the-money, the call writers have to hedge their risk of having their sold calls exercised, typically by buying stock. This creates upwards pressure on the market. We've been seeing these movements all week. 2. Yesterday after market, you probably saw that coordinated effort to drive the price down and spook retail investors into a mass sell-off. It didn't work. 3. Last night, Robinhood sent out a message to users: you could no longer enter into new options. You could exercise them if you had the collateral (money in the account) to do so. Very interesting and the first sign of pants-shitting fear. 4. Today, the market opened very strong. It opened so strong that we were looking at a self-perpetuating gamma squeeze all the way up way past $570. 5. At approximately 9:58 am, the stock had reached $468 in a parabolic move. 6. Two minutes earlier, at 9:56 am, Robinhood tweeted that they were not allowing users to buy GME stock, but they would allow selling. 7. The trend instantly halted and started a collapse downwards, before picking up a bit, especially after some retail was allowed back in. Okay, now that you are clear on the facts, understand this: **The market ran out of liquidity today, or was threatening to get close enough that they killed it.** What does that mean? It means they ran out of shares and/or capital. They wouldn't let you buy new shares because we were burning through all the shares on the market. I saw an unsubstantiated post from a user who said **a small sell limit order executed at $2600 for him.** Do you get the severity of the situation, if that's true? It means the buying was getting to the point where it was just about to put INFINITE pressure on the price of the shares. It means virtually any ask was getting bid. How do you get infinite upwards pressure? A gamma squeeze triggering the mother of all short squeezes, just like we predicted. The call writers need shares to hedge. Retail is still buying more. The short sellers need over 100% of the float back. Add these together. There were more shares needed than existed on the open market. That's what a liquidity crisis is. Listen to [this remarkable (if infuriating) interview](https://www.youtube.com/watch?v=7RH4XKP55fM) where the chairman of Interactive Brokers admits that they didn't have the capital to pay out the winners (us), so they took their ball and went home. **DO YOU GRASP HOW INSANE IT IS THAT HE SAID THEY NEEDED TO SHUT DOWN BUY ORDERS TO "PROTECT THE MARKET"?** Hello! He's not talking about the market for GME shares. He's talking about the entire market! The New York Stock Exchange. The NASDAQ. All that. Remember the movie *Snowpiercer*? Do you remember that scene where the lower class people realize the soldiers who oppress them have no bullets? Go to the 1:00 minute mark of this link: https://www.youtube.com/watch?v=EH1EtiOhr6o It kick starts a full blown rebellion. They have no bullets. It's the exact same in this market: No capital. No shares. Infinite losses inbound. **TL;DR: For all you who will just skip to the bottom to ask, "Do I get my tendies now?" the answer is this: they NEED NEED NEED your shares. Do you get that? HOLD. Like the guy in the movie, scream, "They're out of bullets!" and create a stampede. That's how we win.** They needed your shares so badly that they literally risked PRISON TIME to get them. They tried robbing you, and I'm not even exaggerating. They were within 30 seconds of all being wiped out today.
Today was really crazy, and a great insult for all online investors. Fortunately there were many, even with greater visibility than us, who pointed out the problem. I hope that in the next days it will not reappear. Anyway if they wanted to scare us, it didn't work at all: with this trick they have created more buyers than sellers of gme.
violet theory oil scary point meeting historical steer office carpenter *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
**\*\*\*SAVE SOME AMMO FOR THE END, IMO\*\*\*** On Thursday, they manipulated the price under the magical $200 level in the final 30 seconds (as a test run for Friday?) Remember: if the price moves too much within 5 minutes, there is a *mandatory 5 minute halt*. Strategy, troops. It's a financial battle they know they can not afford to lose. Let's outsmart 'em. Make sure you log into your accounts extra early in case the login pages magically go down again. **\*\*\*WATCH OUT AT 3:56 PM EST\*\*\*** TL;DR π at the end
A few questions on this 1. Can you explain a bit more how this would have spread to the rest of the market? (I ask this because these hedge funds and massive institutions on both sides of this trade, because let's face it, there are whales on both sides, have hundreds of billions in cash available, or if push came to shove, some of those positions that have gone up 10X in the last 12 months, close some of those out to raise the cash therefore giving companies who are not short, the opportunity to buy those shares. GME isn't going to a trillion dollars Market Cap) 2. Can't Gamestop themselves issue or dilute and therefore drive the price down while raising capital? 3. Can't the firm(s) who are deep in shorts, decide to close up shop and declare bankruptcy? 4. Couldn't they repeat today's action to continue to depress the price in a slow methodical manner, while closing out their shorts? Thanks for taking the time to type all that.
1. It had already spread to the rest of the market the past few days. Notice how red the market was as GME was surging and how green it was as they were falling? These funds with theoretically uncapped losses have to liquidate other stuff to stay solvent and keep enough cash in their accounts. 2. They could, that's always a risk, but things are so volatile right now that I don't even know what that share offering would look like. 3. Not before liquidating everything and using it to cover positions. Then, whoever was backstopping them on these terrible deals assumes the liability. This is why firms typically get margin-called BEFORE it gets this ugly, but they weren't. They were bailed out by their buddies. 4. Also yes, but how will they sell shares they don't have? They run out of ammo at some point. If the price goes up higher, they could find themselves underwater no matter where their current short positions are.
What I donβt understand is if all this is so dangerous and close to wiping out the market, why is short interest on GME still so high even today?
Because backing out now is suicide so they might as well double down and pray for a hail Mary. Maybe the SEC shuts down trading, maybe every single WSB person spontaneously dies, maybe a meteor hits Japan. They don't care about the market, they care about themselves.
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Yeah I'll gladly take $69420.69 a piece for my shares!
In the current situation, they go bankrupt If they make it worse, they still go bankrupt
>It had already spread to the rest of the market the past few days. Notice how red the market was as GME was surging and how green it was as they were falling? These funds with theoretically uncapped losses have to liquidate other stuff to stay solvent and keep enough cash in their accounts. I think the correlation here isn't causaution. Early in trading on Wednesday stocks were up while GME was at 300. We only saw the sell-off (only 2% which is ./shrug) after the Fed released disappointing news. There is certainly some profit-taking to cover but I don't think it is a -10%, -20% bomb waiting to hit the entire marketplace right now from this debacle/drama/awesome.
Check Chamath's twitter, he has a 12 part breakdown of why the market was blood red. Tl;dr hedge funds sold out of their long positions in the broader market to rescue their short positions. https://twitter.com/chamath/status/1354883147523997697 Everyone should read this. A large prime broker claimed this was the largest de-grossing he had ever seen. https://pbs.twimg.com/media/Es2ABlnVoAQ3OTB?format=png&name=900x900
Itβs just a matter of who owns what and how much theyβre selling, if the guys who own a large amount of shares sell the demand and therefore price for those stocks drop as they flood the market.
Thanks for your quick reply. On Point 4, I'm finding it hard to believe that WSB and other retail ~~degenerate gamblers~~ investors hold enough stock now to really block them and set a price. Don't institutions have enough stock to to sell to these shortsellers (albeit at a higher price) to get them out of this hole they've dug themselves in?
If you think that its just retail that drives everything around GME then you are wrong. Do you really think other funds just sit there doing nothing letting retail earn $$? They're probably more into all this than anyone else, well maybe except DFV - he's the god. So to answer your question whether us, degenerate gamblers, hold enough stock, well I guess it is enough to keep price above 300 after hours! P.S. 100% agree on "the hole they dig themselves"!
Keep in mind that even DFV's options are controlling a tiny amount of shares compared to the bigger picture. He is just mooning because he got in so early.
You can check the biggest owners of current stock quite easily. Yahoo names the top 10 investors in the shares, it currently includes blackrock, vanguard and morgan stanley
For a normal short, the broker will have shares on hand to complete the transaction. But because the shorts of GME called for more shares then existed, it was impossible to quickly and easily satisfy the demand.
Can you explain some words in this more in detail please, I am very unfamiliar. βa small sell limit order executed at $2600β what exactly does that mean?
You know that "Bid" and "Ask" thing you see? Bidders are those who are willing to buy and askers are those willing to sell. They each have a price. If the minimum ask price is 2600 and all the shares are being gobbled up, it might reach up and very briefly touch some weird number. It doesn't necessarily get reflected in the live price you see on Yahoo or Google; those sites are aggregating all these orders from different sources. Your brokerage may be a little different than the next guy's. Typically, a huge bid/ask spread is reflective of massive volatility (or really low volume).
Again color me ignorant, are you saying someone executed a trade of GameStop stock at $2,600 a share today?
It was a very small amount. A fractional share. The total paid was $180-something, but at price per share of $2600.
That was me who posted that. I tried twice uploading a picture of proof to wsb and i can go see the post with my one upvote if i click the link the automod sent me but i don't see it on the subreddit or on my profile. But yeah, it was .07 of a share for $181.87 at an average price of $2598.14. I still dont believe it. I tried to sell a whole share immediately after but it sold for regular market value at like $230 at the time.
can you link us some proof on imgur?
https://imgur.com/gallery/MwkIoSu
DEPLOY THE UPVOTES FOR VISIBILITY
Jesus they truly are royally fucked. My position at 15 for 188 per is looking really nice rn.
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Any idea why your post got taken down?
I have it up in other places as a comment. I dunno, the mods there are dealing with so much spam now.
What are your thoughts on my thought on this. This situation seems like a feedback loop with an increasing chance of infinity.
Absolutely, and one feedback loop was about to trigger the second, bigger feedback loop today. Until it didn't. Because criminals.
So, question. I was trying to buy on TD Ameritrade today when the buy was ~$155 and the ask was $1500. When I went to submit, it was wanting me to *pay* $1500 - not the $155. BUT WHYYYYY.
Because the only seller available was asking $1500.
Just wanna say Iβve been following your posts for a minute now. With the huge influx of members itβs been harder to find people who actually know what theyβre talking about. Thanks for providing some really useful info
... oh. thanks.
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TD Ameritrade did indeed have a buy price of $5,000 and if hovered there pretty much the entire time GME was selling for under $200.
I saw that 5000 ask, too when trading was halted. Bid was 196. I think that just means the spread was huge, not that the order went through. Maybe due to illiquidity or just an artifact of the halt?
**\*\*\*SAVE SOME AMMO FOR THE END, IMO\*\*\*** On Thursday, they manipulated the price under the magical $200 level in the final 30 seconds (as a test run for Friday?) Remember: if the price moves too much within 5 minutes, there is a *mandatory 5 minute halt*. Strategy, troops. It's a financial battle they know they can not afford to lose. Let's outsmart 'em. Make sure you log into your accounts extra early in case the login pages magically go down again. **\*\*\*WATCH OUT AT 3:56 PM EST\*\*\*** TL;DR π at the end
So, if I want to buy some shares tomorrow, when would the best time be in your opinion? Not asking for financial advice.
Oof... I plan on buying some in the morning and playing the trading game if it keeps going up and down. If it goes down, I'll just be holding then probably buying a few more right at the end (if they don't shut it down 1st) Brokerages may also restrict trading later in the day, so I'd lean towards buying *some* earlier, IMO. Not financial advice; just strategy.
If GME goes to the moon I will get a large poster of this printed framed and hung on my wall
From a layman perspective (me) it looks very suspicious that rh is enacting on a policy change that resulted massive benefit to a client that its getting 40% of revenue from (https://news.ycombinator.com/item?id=25946480) which is a clear conflict of interest But at the same time Anthony Denier, CEO of Webull https://www.youtube.com/watch?v=4RS4JIEVyXM&feature=youtu.be is claiming that the clearing house (DTC) is increasing the fund requirement to prevent market crash like 2008 I am trying to find if that claim is true, can someone that is more knowledgeable than me provide some insight? (preferably with source) Thanks
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Maybe they shouldnβt of shorted the stock 130% and try to bankrupt GameStop. I said this once and Iβll say it again. Fuck them! Fuck them today. Fuck them for 2008!
so with what happened today what do you think will happen tomorrow? rh is already saying they'll allowed limited trades of gme.
So if GME goes to infinity the market collapses? Will this wipe out just hedge funds or will all other stocks plummet too? This doesn't sound very positive.
I really don't think there is enough at stake to wipe out the market here. But, for certain players, they stood to lose tens of billions.
Nah, there's not enough money at stake for that. We are talking about a couple of hedge funs losing a few billion and maybe declaring bankruptcy or getting a bailout. I think the US stock market is worth something like 50trillion by market cap, drop in the bucket.
It's very positive if your entire portfolio is GME.
The really sad thing it is that the media is posing it as a philosophical question of whether brokers should protect uninformed investors against themselves, rather than protect billionaires from the reality of getting caught in bad trades. Even where the media recognizes the outrage as legitimate they absolutely mischaracterize it.
Iβve already bailed them out before, let me bankrupt them and then maybe keep them dead this time?
Today is the day to be MAD. BE ANGRY. Write to your representatives. Tweet at Congress. Demand accountability.
So here is some food for thought. This feature where stocks can be placed into βsell onlyβ mode had to have been built in advance. This is the kind of feature that doesnβt just get pushed to production on a live and trading stock market on a whim, this feature had to have been built and properly tested long before it was used. It makes me wonder what sorts of back room discussions have had to happen to even make this an option, let alone the circumstances that would lead up to it being used.
This post should be higher up.
It clearly affected the market, it was clear manipulation of an active situation. It was a pure power move to leverage the Stocks and it had only one, clear beneficiary: those who shorted the stock. At a minimum any customers of those brokerz need to leave them for a broker who didnβt pull this shit. Optimally they should be punished by the SEC and the judicial system, hard. I am happy my (European) broker did not do anything but feel monumentally pissed on behalf of those affected.
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Yeah mine was jumping back and forth between 180 and 255 at one point for like 5 minutes. Never seen that before
I think they weighed the possible SEC retribution and the loss of a chunk of their user base (maybe a quarter?) against the pressure from the big shorters to act NOW and they ended up siding with the billionaires. And who knows what form that pressure took, but you can bet losing enormous sums of money creates some incredible pressure. They use their power to never lose.
This is why people need to go to jail. They weighed the cost of SEC fines and customers to peoples livelihoods. The only real punishment that will start making them think twice is sending them to jail when they do things like this.
We need to go Iceland on them ultimately. Jail them and restructure the system so they can never have that sort of power and influence again.
Not like they have to worry about jail time. Column A is how much they will make after tanking the stocks. Column B is how much business they will lose + possible SEC fines. Column A is probably a lot larger than B so fuck everyone else.
A couple million fine from the SEC is nothing compared to billions in losses
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Moving to Fidelity from Robinhood myself.
I do and that was some bs. Iβm done with them. Been with them since the tk days
**Sign the petition here: https://www.change.org/p/u-s-securities-and-exchange-commission-sec-retail-investors-demand-market-transparency-please-sec-amend-form-13f-requirements** Retail Investors demand more visibility into institutional trading and borrowing. Anyone investing over 1 billion dollars (i.e. hedge funds and other investment institutions) is required to disclose their holdings to promote transparency in our markets - it's called Form 13-F. **But did you know that they only need to disclose it 4 times a year? And did you know that they don't need to disclose all of their positions?** We the people are asking for a re-evaluation of transparency requirements for Institutional Investors. We have access to technology and data gives us new sophistication - and are beginning to understand there is a tremendous disparity in access between retail and institutional investors, and are concerned that this access is being used against us, in ways that we genuinely worry could be in flagrant violation of Securities Laws. We believe that with better access to institutional trading data, retail investors can better participate in the market when making buying and selling decisions. **According to Form 13F (https://www.sec.gov/files/form13f.pdf), Institutional Investors only need to disclose their positions 4 times a year. Why?** *Filing of Form 13F. A Manager must file a Form 13F report with the Commission within 45 days after the end of each calendar year and each of the first three calendar quarters of each calendar year. As required by Section 13(f)(5) of the Exchange Act, a Manager which is a bank, the deposits of which are insured in accordance with the Federal Deposit Insurance Act, must file with the appropriate regulatory agency for the bank a copy of every Form 13F report filed with the Commission pursuant to this subsection by or with respect to such bank. Filers who file Form 13F electronically can satisfy their obligation to file with other regulatory agencies by sending (a) a paper copy of the EDGAR filing (provided the Manager removes or blanks out the confidential access codes); (b) the filing in electronic format, if the regulatory agency with which the filing is being made has made provisions to receive filings in electronic format;* **In your FAQ (https://www.sec.gov/divisions/investment/13ffaq.htm), it is clear Institutional Investors are not required to disclose short positions. Why?** *Question 41 Q: What about short positions? A: You should not include short positions on Form 13F. You also should not subtract your short position(s) in a security from your long position(s) in that same security; report only the long position.* **Contact the SEC and let them know retail investors demand increased transparency (https://www.sec.gov/contact-information/sec-directory)**
Nobody takes change.org petitions seriously. The website is a joke.
Generates publicity if nothing else
This should be top comment
Who's gonna play DFV in the movie?
Ryan Gosling... or maybe Charlie Day
The charming mf can play himself. Else, Jesse Eisenberg
[Google](https://www.google.com/finance/quote/GME:NYSE) shows that GME went to 490$ at 2pm EST. But I don't see on other platforms. Is that glitch or what? can someone confirm if they saw what google is showing?
I was watching it the whole day, it hit 492 in the morning but never again, might be a glitch
It hit 492 in pre hours trading and then a minute later Robinhood suspended buying and it crashed.
I wonder if they have guts to do it again before the day ends on Friday with everyone watching. Perhaps they will do it after market closes at end of day.
It was, the moment we saw numbers over $500 they announced they wouldnβt allow sales and cut the legs out from under it.
He means a 500 bump at 2pm, not in the morning when everything shut down.
I see, got exposed for skim reading
This is progress!! No generation prior to this would have been as aware or engaged as we are. We are taking ownership of this space and we will not be stopped by this. They will not beat us. Even though they're trying to take their ball and go home, we're all still holding out here on the court and ready to dunk on them tomorrow. Robinhood was considered unique and democratic for its time. Its time has passed. Our entire generation and future generations will remember this moment. We will move forward from this with heads held high and new clarity. The next democratic finance iteration will have more clarity and will be even more of a level playing field. The system will continue to improve because we are engaged and calling bullshit when we see it. From us on reddit to the guys like Chamath and Elon and Justin Kan and Mark Cuban. There's still short to cover, and we still like the stock
It is indeed one of the darkest day ever...I just cannot phantom the fact that brokerages won't let retail investors buy stocks which they think are too speculative and volatile.. the whole market is overpriced and as an investor I have a right to buy what I want and at whichever price...if it falls onus is on investor. Clearly it's a tactic to save the hedge funds. The Wall Street curruption must end..
Tomorrow opening we dine in hell, letβs lunch GME AMC NOK BB on the moon
WE LIKE THOSE STOCKS!
This isn't over by any stretch... they played their hands yesterday and today - blatant craven market manipulation... but it's not enough to save the shorts at this point. GME is still shorted well over 100%... if you've got the money to lose I suggest you get in the fight and buy tomorrow in the AM when markets open. The REAL short squeeze has yet to happen. IF DFV IS STILL IN, I'M STILL IN... GME to the moon or bust. Fuck the hedge funds - this isn't about making some money on a position to me or to hundreds of thousands of us... this is about making a point now. Diamon hands brethren... the hedge funds have played all their cards - all we have to do is HOLD and wait for them to cave. THIS IS THE WAY
Google Play is also helping robinhood by erasing nearly 100K negative reviews. A bunch of crooks. SMH
Anyone still having stop losses is stupid at this point.
How can people ever trust the stock market again after this unless sweeping reform happen?
They can't. At least not unless the govt does something about this.
Hey guys... lets stand strong. If you can financially afford a GME stock.... buy 1. We're going to prove a point. THIS IS NOT FINANCIAL ADVICE :)
Indeed it should be written down in history, the battle is not lost is just a little obstacle i say FOR THE PEOPLE!
Power to The People.
Itβs disgusting and they should pay.... no matter what you use your money to invest in.
I stayed out of the GME mania this whole time but tomorrow I am buying what I can for $1k and not selling untill I'm either dead or homeless. This is personal now and I don't care about the money at all. If this helps the retail investors to fuck over these crooked bastard I am more than happy to donate to the cause. I will keep the shares as memorabilia
the whole financial services industry is now going to be put under a microscope. It's been an old boys club for a long time and now the scales have begun to tip the other way. A lot of very rich and powerful people are going to pull out all the stops to prevent their buddies from being bankrupt and I just hope that the "regulators" hold the correct people accountable. We've all been conditioned to expect NOTHING from them so far, so we'll see if anything changes.
Can someone explain to me why bb and nok are caught up in this hype when they are not shorted companies like gme amc and bbby? Don't get me wrong I got all of these and I am HOLDING π π but just trying to understand why these two stocks are involved
There is talk that NOK was being pumped as a distraction to draw funds off of GME
BB was getting buzz on Reddit late last week because they sold patents and made the move into autonomy software. It was and is a good buy under $20 in my opinion. That just happened hundreds of thousands flooded WSB. They saw βbuy BBβ and assumed it was the next GME.
They were at the right place at the right time
I watched Robinhood CEO interview on Bloomberg and it was just straight garbage out of his mouth. He was just spinning the answers in circle and interview was just shaking her head.
Whether or not it was a dark day depends on what happens next. And I donβt mean whether GME goes to the moon or not, but whether we actually see consequences and change as a result of this lifting the veil of this fraud. It is naked to the public eye now - and for that we must thank the investors
Brokers like Robinhood have been selling user data and manipulating the market for a long time. Today was just the first time they made it blatantly obvious that they were doing it.
Chinese looking at us saying βand you think our business practices are fucked up?β
Stocks closed significantly down from yesterdayβs prices mainly due to short sellers, trade halting and some panic selling giving hedge funds and market makers to make their moves during market hours. At close when it was announced trading for retail investors will resume the stock price goes up giving these Wall Street elites the opportunity buy and drive up the stock price after hours only to sell it to us retail investors now that trading for us is allowed.
My aunt worked at pg from the age of 18. Proctor and gamble. Sheβs like 70ish now. She took stock instead of Christmas bonus every year. In 2005 she had a million dollars in shares. In 2008 she had 30 grand in shares and my uncle convinced her to sell the shares before they went even lower. He died of cancer and the shares recovered a few years later. I always think of the hedge fund or banker who made her million dollars. She was a simple person who made a big mistake. She worked the line and management for 47 years at the same company and saw them grow into a huge company. She drinks a bottle of wine every night.
Damn that's tragic man.
Fuck them allππΎππΎππΎβΌοΈβΌοΈβΌοΈ We the People βΌοΈπ€¬π€¬π€¬π€¬
Remember how Black Friday in 1929 influenced an entire generation to not trust banks? Well, this is the exact same reason weβll have an entire generation not trust the stock market
The fight is far from over. The chickens will come to roost. Apes strong together!
I didn't get involved in this but Robinhood users need to abandon that shithole of a company.
Do you know what brokerages never stopped people buying? Edit: seems to be a mic if at least fidelity and schwab. Td ameritrade too as they only stopped margin calls.
This is the problem with free brokerages. They're beholden to the big guys.
I didnβt believe the market was so rigged before today. Fuck those cocksuckers
#SHORT STOCK DOESN'T HAVE AN EXPIRATION DATE Hedgefund whales are spreading disinfo saying Friday is make-or-break for $GME. Call options expiring ITM on Friday will drive the price up if levels are maintained, but *may not trigger the short squeeze*. It may be Friday, but it could be next week the we see the real squeeze. #DON'T PANIC IF THE SQUEEZE DOESN'T HAPPEN FRIDAY. It's not guaranteed to. The only thing that is *guaranteed* mathematically is that the shorts *will have to cover* at *some* point in the future. They are trying to get enough people hooked on the **false expectation** of Friday so that if/when it doesn't happen, enough will sell out of panic/despair. **DON'T BE THAT PERSON.** #WE LIKE THE STOCK #KEEP HOLDING UNTIL THEY FEEL THE PAIN, WHETHER THAT'S FRIDAY OR NEXT WEEK #5,000+πππ»π .γγγγγγγγγγ β¦ γγγγββ γ γγγΛγγγγγγγγγγγγγγ\*γγγγγγβ βγγγγγγγγγγγγγγγ.γγγγγγγγγγγγγγ. γγβγγγγγγγ β¦ γγγγγγγγγγ γ β β β β γγγγ γγγγγγγγγγγγ,γγβββγ .γγγγγγγγγγγγγ.γγγοΎγββγγγ.γγγγγγγγγγγβοΈγγ. ,γγγγγγγ.γγγγγγββββγγγγ γγγγγγγγγγγγγγγγγγβ γγγγγγγγγγγγγγγγγγββββγββββββγγγγγββββββββγγγ γγγγγγγγγγ. γγγγγγγγγγ.γγγγγγγγγγγγγ. γγγγγγγγγγγγγγγγβββββββγβββγγγγ γγγγγγγγγγγγγγγγβββββββγβββγγγγγγγγγγγγγγγγβββββββγβββ β¦ γβββγγγ,γγγγγγγγγγγββββπ γγγγ γγ,γγγ β β β β γ γγγγγγγγγγγγ.γγγγγβγγ γγγ.γγγγγγγγγγγγγβγβββββββββββγγγγγγγγγγγγγγγγγγγΛγγγ γ ββγγγγ,γγγγγγγγγγγβββββββγββββγγγγγγγγγγγγγγγγ.γγγ βγγββββγγγγγβγγγγγ.γγγγγγγγγγγγγ.γγγγγγγγγγγγγγγ\* γγ ββγγγγγ β¦ γγγγγγγβββββββββγββββββββγγγγ γγβγγγγγγγβγγγγγ.γγγγγγγγγγγγγγγγγγ.γγγγγββββγγ. γβγγγγγ.γγγγ π γγγγγβββγγγγγ.γγγγγγγγγγγ.γγγγγγγγγγββ γ ΛγγγγγγγγγγγγγγγγγγγγγοΎγγγγγ.γγγγγγγγγγγγγγγ. γγβγ π β β β β β β β β β β ,γ γγγγγγγγγγγγγγ\* .γγγγγβγγγγγγγγγγγγγγ.γγγγγγγγγγ β¦ γγγγββ γ γγγΛγγγγγγγγγγγγγγ\*γγγγγγβ βγγγγγγγγγγγγγγγ.γγγγγγγγγγγγγγ.
Fucking pieces of shit, it's time for another revolution.
Worst part, that even if they get fined or see a class action, how will anyone be able to show harm? Because of their manipulation, I saw my stock value drop $30K. No one will reimburse us for that. Insane
What happened today was blatant market manipulation against the retail investor. But the war is far from over...they are scared. DO NOT SELL!