[Stonks] GME market manipulation by hedge funds
(media.kotakuinaction2.win)
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Image taken from c/wsbets for convenience.
Preface: I own zero shares; I considered it but figured I was too late, which was wrong. I don't care money wise since I'm doing my own long-term thing with a traditional IRA, would have loved to participate in fucking over Wall Street. Oh well.
Anyway, for those out of the loop, the WallStreetBets subreddit has had shady happenings, with old moderators being booted. It was clarified to be an 'admin decision', but coincided with tons of seemingly inorganic postings.
(The subreddit has organically shifted in tone, since everyone and their mother thinks the purpose of the forum was the digital equivalent of Occupy Wall Street -- it wasn't, at least not until the brokers started limiting purchases.)
Since then, many people - NPCs or not - have been suggesting that the "squeeze is over" and to take losses before it goes further down. Between the short-ladder attacks and shorting via ETFs, this stock has been clearly suppressed as evidenced in price and daily volume.
I don't know what high the stock can and will hit, because I'm not a retard that can or would naked short a stock (nor trades on margin to begin with), but "synthetic shares" and the likes aren't long-term solutions when the piper has to pay. And now we're seeing correction BACK to some norm. Wherever that lands.
Restrictions are again in play, but it's not necessarily as simple as the brokers (e.g. Robin Hood) themselves, alone, being corrupt. Either way, this bitch has always had life despite what the media and robots have parroted, and we're seeing it play out.
Oh, and Congress is busy clutching pearls about these institutions but we know nothing will come out of that.
We do know that they're trying to nail DeepFuckingValue on market manipulation, but they're out of luck as evidenced by, y'know, his comment history encouraging nothing of the sort and everyone on the subreddit mocking him years in advance.
If there are any rule changes, it'll probably be to the detriment of retail investors, but that's to be expected by our political economy.
There has been some migration, but I don't think most of the subreddit knows about the WIN community...and as we've seen with KIA2, people are lazy even when aware. It's technically not moderated by the original Reddit moderators, though my understanding is that Doggos and the rest have (or had) the intention to hand it over if they ever expressed interested.
As for the subreddit, I won't pretend to be an expert. I rarely browsed it because even before GameStop shenanigans it was generally only useful for looking at loss porn. But from what I saw of the bearish sentiment, IMO it was mostly shills with the occasional peasant that has no brains nor testicles to justify being anywhere near stocks.
What we're seeing is the knock-on effects of MONEY PRINTER GOES BRRRRRRR. All that excess money is now flooding into the stock market and killing shorts.
You're absolutely on the mark.
Even though it takes a lot of sophistication to come up with the high-IQ play of shorting 100+% of a float, there's legit no way the markets would remain so bullish during a fucking scamdemic being treated as a pandemic if this wasn't true.
Not to mention some percentage of people have even taken the stimulus money and directly injected it into stocks like the filthy degenerates that we all are.
Sure, the ~$28T in debt and constantly super-low interest rate might fuck us over, but that's a problem for 'Murrica of Tomorrow.
Yeah there's something weird going on and I can only attribute it to a ton of new money as well. I've damn near been on a spending spree lately to not be stuck with a bunch of dollars that I just let inflate away. I've pretty much set a hard limit on how much plain old USD I keep in the bank, and the rest is going to tangible assets, real estate, precious metals, stocks, crypto, etc. I can find no reason to hang on to cash for anything more than an emergency fund and short term expense anymore.
I had bought quite a bit of stock when even the dips were still pretty damn high, and then another bunch when it lowered to $50. Today, I could very well be in the green.
No, it can't be? Institutional investors would never try to make more money! /s
I always thought the first round was maybe started by the WSB group and then the big money got in the game as well. I'm not convinced WSB had the capital required to push it as much as they did on their own. That was a weird sub anyway, "yay we we've all made 14x our money, don't care claim any of that have diamond hands to get tendies" Or in reality wait until all you have is money to buy some chicken. I guess I'm just not a social investor, I've always operated under the premise that someone telling me what to do with a stock is telling me what they need me to do so they maximize their profit, not mine.