01-28-2021, 02:34 PM
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#2021
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Franchise Player
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Quote:
Originally Posted by Enoch Root
Are you referring to RH?
That is ugly, but it is not the reason that the stock is $200 instead of $1,000
The value of a company is a function of its fundamentals. Gamestop is a $1 or $2B company, not a $10 or $0B company.
What is going on right now is interesting, and those that are being hurt deserve it. None the less, the stock is going to end up at $20 (or something in that area). What it does over the next few days is anyone's guess, but it is not a $1,000 stock. It is not a $100 stock. So holding it long term, from here, is probably not a great strategy.
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That is one of the tactics. There are others, such as:
The WSB subreddit was spammed relentlessly with bots telling people to buy BB, AMC, NOK, BBBY and others. Who is behind that? They were spammed so hard, they literally were forced to take the sub offline for an hour last night, which corresponded directly to the faltering in AH trading.
Media manipulation with most big news agencies throwing out stories about lawmakers suggesting a 30 day ban on GME trading.
Scam stories saying the SEC was coming after individual redditors.
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01-28-2021, 02:34 PM
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#2022
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Backup Goalie
Join Date: Mar 2011
Exp:
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Rookie question here. If one were to place an order on a stock during after hours trading, typically how long would it take for said order to be filled? Or does it vary wildly depending on trends, number of stocks requested etc.
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01-28-2021, 02:35 PM
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#2023
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Franchise Player
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Quote:
Originally Posted by CroFlames
That is one of the tactics. There are others, such as:
The WSB subreddit was spammed relentlessly with bots telling people to buy BB, AMC, NOK, BBBY and others. Who is behind that? They were spammed so hard, they literally were forced to take the sub offline for an hour last night, which corresponded directly to the faltering in AH trading.
Media manipulation with most big news agencies throwing out stories about lawmakers suggesting a 30 day ban on GME trading.
Scam stories saying the SEC was coming after individual redditors.
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Cool. None of that dictates stock price.
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01-28-2021, 02:35 PM
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#2024
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Unfrozen Caveman Lawyer
Join Date: Oct 2002
Location: Winebar Kensington
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The Following 9 Users Say Thank You to troutman For This Useful Post:
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01-28-2021, 02:43 PM
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#2025
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Franchise Player
Join Date: Apr 2012
Location: Maryland State House, Annapolis
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Here's the statement
Quote:
“This past year, we’ve seen the financial markets become a voice for the voiceless. We’ve seen a new generation of people come into the markets, sparking conversations about what it means to be an investor. Our customers have shown the world that investing is for everyone—not just institutional investors and hedge funds.
Amid this week’s extraordinary circumstances in the market, we made a tough decision today to temporarily limit buying for certain securities. As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today.
Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and may make adjustments as needed.
To be clear, this was a risk-management decision, and was not made on the direction of the market makers we route to. We’re beginning to open up trading for some of these securities in a responsible manner.
We stand in support of our customers and the freedom of retail investors to shape their own financial future. Democratizing finance has been our guiding star since our earliest days. We will continue to build products that give more people—not fewer—access to our financial system. We’ll keep monitoring market conditions as we look to restore full trading for these securities. We will update this Help Center article with the latest changes.
We are deeply grateful to our customers.”
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__________________
"Think I'm gonna be the scapegoat for the whole damn machine? Sheeee......."
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01-28-2021, 02:49 PM
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#2026
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Crash and Bang Winger
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I feel like anything with the markets are exclusively catered to the high frequency traders who prop up the markets by exploiting the maker taker fees and creating all that liquidity. They call the shots and all the exchanges bow down to them, to me this is another example of it. I don't have any proof, other than a gut feeling, but this smells terrible
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01-28-2021, 02:53 PM
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#2027
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Franchise Player
Join Date: Jan 2018
Location: Alberta
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It's more than a gut feeling. Millions of people literally watched them prevent people from buying and only allowing selling while ####ing Citadel (who has elements of control over Robinhood through providing them market access) INCREASED their short position. It is among the most blatant and brazen examples of market manipulation of all time.
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AltaGuy,
badradio,
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CroFlames,
FlameOn,
FLAMESRULE,
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Patek23,
ripTDR,
RoadGame,
Save Us Sutter,
Table 5,
Top Shelf,
woob
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01-28-2021, 03:02 PM
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#2028
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wins 10 internets
Join Date: Feb 2006
Location: slightly to the left
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Quote:
Originally Posted by Monahammer
It's more than a gut feeling. Millions of people literally watched them prevent people from buying and only allowing selling while ####ing Citadel (who has elements of control over Robinhood through providing them market access) INCREASED their short position. It is among the most blatant and brazen examples of market manipulation of all time.
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Well when they know that the "punishment" for manipulating the market might be a token fine at best, why wouldn't they do that?
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01-28-2021, 03:02 PM
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#2029
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Crash and Bang Winger
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Quote:
Originally Posted by Monahammer
It's more than a gut feeling. Millions of people literally watched them prevent people from buying and only allowing selling while ####ing Citadel (who has elements of control over Robinhood through providing them market access) INCREASED their short position. It is among the most blatant and brazen examples of market manipulation of all time.
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Thats the thing though and why they might get away with it. So what if you try to sell on Robinhood? It doesn't mean that the trade makes it to the actual exchange and gets verified. Your trade could get shuffled within a bunch of dark pools or sold to other firms exploiting loopholes within the plumbing of the system. This stinks of something more deeper.
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01-28-2021, 03:02 PM
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#2030
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Franchise Player
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Quote:
Originally Posted by Mr_Pilot
Rookie question here. If one were to place an order on a stock during after hours trading, typically how long would it take for said order to be filled? Or does it vary wildly depending on trends, number of stocks requested etc.
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Do NOT place orders after hours or premarket unless you stipulate a limit on what you want to pay per share.
You could get burned really badly, as stocks can open much higher than during after hours, especially these days.
Try to remember, what's been happening the last few pages in this thread is extraordinary. This is not investing. It's gambling/crusade vs The Man.
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01-28-2021, 03:06 PM
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#2031
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Franchise Player
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Quote:
Originally Posted by Monahammer
It's more than a gut feeling. Millions of people literally watched them prevent people from buying and only allowing selling while ####ing Citadel (who has elements of control over Robinhood through providing them market access) INCREASED their short position. It is among the most blatant and brazen examples of market manipulation of all time.
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Does anyone know what the daily volumes at RH have been? The stock is trading over 100M shares per day, just on the one exchange I have on my screen.
It sucks for the people at RH, and there very well may be fraudulent manipulation here, but it isn't materially affecting the price of the stock, unless RH has a huge chunk of the volume of GME. Every other brokerage is still trading it
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01-28-2021, 03:10 PM
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#2032
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Franchise Player
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Quote:
Originally Posted by ripTDR
Thats the thing though and why they might get away with it. So what if you try to sell on Robinhood? It doesn't mean that the trade makes it to the actual exchange and gets verified. Your trade could get shuffled within a bunch of dark pools or sold to other firms exploiting loopholes within the plumbing of the system. This stinks of something more deeper.
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Yeah, it doesn't work like that
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01-28-2021, 03:28 PM
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#2033
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Franchise Player
Join Date: Apr 2013
Location: Cowtown
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Volkswagen short squeeze vs current GME situation. God i hope this pays off
__________________
Quote:
Originally Posted by oilboimcdavid
Eakins wasn't a bad coach, the team just had 2 bad years, they should've been more patient.
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01-28-2021, 03:29 PM
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#2034
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Franchise Player
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Quote:
Originally Posted by PaperBagger'14
Volkswagen short squeeze vs current GME situation. God i hope this pays off
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Get ready for lambos and beach homes baby.
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01-28-2021, 03:30 PM
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#2035
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Franchise Player
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I am not in GME but I hope it moons just to squeeze the shorts
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01-28-2021, 03:31 PM
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#2036
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Franchise Player
Join Date: Jan 2018
Location: Alberta
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Quote:
Originally Posted by Bonded
I am not in GME but I hope it moons just to squeeze the shorts
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Me too, I didnt have the courage at first. Then I decided to FOMO into NOK and BB (lol RIP my little fun portfolio...)
Now I am holding on and hoping that the GME rally will lift all boats in the morning.
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01-28-2021, 03:40 PM
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#2037
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Franchise Player
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Quote:
Originally Posted by PaperBagger'14
Volkswagen short squeeze vs current GME situation. God i hope this pays off
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It HAS paid off. Are you suggesting that it has to go to $1,000 to 'pay off'?
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01-28-2021, 03:41 PM
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#2038
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Powerplay Quarterback
Join Date: Nov 2012
Location: Calgary
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Not in this at all as I just started investing and wasn't willing to take the risk but also hoping it goes to the moon. Very heavily invested in the drama.
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01-28-2021, 03:41 PM
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#2039
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Franchise Player
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Quote:
Originally Posted by Enoch Root
It HAS paid off. Are you suggesting that it has to go to $1,000 to 'pay off'?
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If someone bought at 200+ then yes
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01-28-2021, 03:41 PM
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#2040
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Franchise Player
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Quote:
Originally Posted by Bonded
If someone bought at 200+ then yes
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that's on them though
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