Yeah, this. Lol at thinking the people with millions of dollars in GME right now are doing it to fuck over hedge funds. THey’re doing it because they want more millions.
This is not true, or at least if it’s true it’s massively illegal. The broker can’t execute at a price worse than the best price available on an exchange.
Boring gme day
Are they, though? It seems like Citadel is just “replacing” the best price available
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What is the consensus exit point on WSB? $1,000? $10,000?
the moon
It is the same as crypto. Tell everyone else to HODL so you can get out first.
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Believe me, I’m open to the idea of tighter financial regulations, but I’m not going to get upset by a bunch of people collectively using their money to manipulate markets to take money from people who collectively used their money to manipulate markets. Redditors aren’t the problem here. The problem is that they’re doing things hedge funds are already free to do. If the hedge funds doing it is not a problem, then I’m not going to be upset by a hive of small time internet users. Or, if the hedge funds doing it is a problem, then the regulation sure as fuck better apply to them at least as much as it applies to retail investors.
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Yeah I think that’s the difference.
I think even if order flow isn’t privileged to Citadel, this is how they mostly make their money. They see orders hit the exchange and due to their faster connection and execution speed can execute orders in a faster timeframe.
So they are executing StonkNazi69’s order at the best price possible when they execute it. They just have bought the better prices in microseconds before executing the order for their customer.
I’d go with LFMAO actually 
Narrator: It didn’t apply to them as much as it applies to retail investors.
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COOL.U is also a stonk.
Which is exactly why they are convincing OTHERS to do the same.
I’ve been having some ethical questions about all this lately. Does the market have any responsibility at all to not let a company worth 250 million suddenly have a market cap of 25 billion?
It’s still illegal. RH actually just got busted by the SEC, but it wasn’t for what you’re describing. Basically, all retail brokers get execution prices that are better than the best price available on an exchange, because Citadel et al compete to get the dumb money retail orders. What RH did wrong was to let Citadel compete by paying them lots of cash rather than getting much price improvement for their customers, and didn’t properly disclose that. They didn’t get in trouble for executing at a worse price than the exchange price.
Good info here:
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Yea Robinhood would never do that.
Are you saying that Citadel has better infrastructure than the more established players?
LMFAO actually already exists and is a subsidiary of LMFA. I just read the SEC filing and it appears that LMFAO (which is owned by LMFA) basically got 2.15m shares of LMAO as the “sponsor” of the LMAO IPO.
So if I am understanding that correctly LMFA does not become LMAO, but it owns roughly 21% of it in shares that it got for essentially free. LMAO is a SPAC that currently has 100m in cash.
That is a little less bullish than my initial understanding tbh.
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Totally OT for this thread, but Edge is now Chrome under the hood. Microsoft gave up on their in-house browser rendering engine and decided to just reskin Chrome instead. So that’s why Edge doesn’t suck anymore (at least not the MS flavor of sucking).
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I’ve only spent about 10 minutes looking at this, but LMFA appears to be the company with a $38m market cap, but LMAOU is the separate company that raised $105m. Obviously there is some relationship between those two companies, but I’m not seeing the obvious disconnect that you are.
Edit: I kind of grunched, so it seems like you’re already updated. Maybe I should actually try to get some work done today.
I’m waiting to jump into rh’s next ipo - Robinhood Order Flow Limited stock. Should be a hilariously profitable buy.
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Hope you got a decent price. I’m not sure how committed to it the gang is yet. Not many people even mentioned it in the room and I haven’t checked the reddit lately. I just took a little gamble that maybe I was getting in early before a big leap, but it’s looking like a dud. I’ll hold just because of what Nonfiction said about its symbol.