Uhhhh isnt being a financial advisor going to be really bad for him here?
P.S. you can tRaNsFeR wealth from the rich to the poor by like robbing a bank too. Go nuts
Oh great wise one, please bless us with your wisdom!
That’s exactly right, the regulations and the way people think about risk to financial markets will need to adapt to the technology.
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It opens the door to many regulatory rules that don’t apply to regular people, thats for sure. An advisor that pumps stocks he holds in his own account is going to get hammered. If he advised any of his clients to buy GME then went online and pumped it that’s a violation. Basically when the person involved is an advisor there are myriad conflicts of interest and regulations to punish them.
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For starters giving margin loans to a bunch of people who literally don’t understand what they are or that they will be force liquidated of the stock goes down to much is probably a bad idea.
Also letting Reddit idiots manipulate the market, probably bad! Not because some hedge funds got whacked (risk management is their responsibility) but because having a functioning market that isn’t powered by memes is good!
You’re the one who doesn’t get it.
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In for 200
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So, hedge fund managers shorting GSE to 150% of its float and going on CNBC talking the stock down, it’s doomed, etc, is NOT memes and totally a good and normal thing. But reddit guys (and probably some hedge funds also, and maybe they’re the real drivers of this) blowing up those short positions isn’t good and normal because, why. They post on a message board instead of whatever hedge fund assholes use to talk to each other?
Put another way, why aren’t the hedge fund assholes who shorted GSE to 150% of its float to blame for the insane market?
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Up 82% after hours good god
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How can we whack hedge funds within the context of a functioning market not powered by memes?
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Who’s ready to waste a day watching CLVS bounce between 8.10 and 8.85? A WILD RIDE IN THE MARKETS!!!
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For the most part, sure?
I think we have to say there is a difference between AMC being meme’d, a company that would be absolutely fine without a pandemic, and gamestop a company that had no road to profitability and likely would be bankrupt within a year or two before this happened.
Pandemics have been amazing for the only stuff gamestop sells and they didn’t make money last year. Video games, Pokémon cards and random collectibles were rocket ships of 2020!
The weirdest stock pump in history might not even save them!
You meant to say 80.10 and 85.85.
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I mean there’s a fundamental difference between saying a stock is doomed if you believe it’s doomed and saying “lol let’s make this stock go up to make rich people mad”?
Again really don’t give a fuck that some funds blew up (lol sucks for you is basically the correct reaction) and for the most part think people should be able to trade what they want but Robinhood restricting trading because all their lol retail margin accounts are buying a $2 stock for $200 on margin and aren’t going to be able to pay when the inevitable crash comes is not exactly a crime against humanity.
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Today is the day I recoup my money from meme stonking. I’ve got some shares of NAKD that I’m down on but I’ve got a $2k account that’s itching for some action. What are we on today friends!
That’s not what happened though
How many more shares do we need to take a controlling interest and fire the CEO? I demand immediate 300% returns dammit.
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