Rockets and Roaring Kitty: How a financial advisor got 80 years in prison because of meme stocks.
2 Likes
I still don’t think this guy did anything wrong. He had a position and posted it online to a forum.
LMAOU isn’t on RH I guess.
Just tried to buy a long-shot OTM call on GME expiring today on TD Ameritrade, got notice that these positions are closing only. Sigh. Well, I’ve got a $2 650c in my paper trading account so let’s see how that goes.
Well done.
1 Like
You know, the thing people don’t realize is that for a money-losing firm like KOSS, when the stock price goes up, the P/E ratio actually goes down. Kind of a cheat code if you ask me - the stock becomes measurably cheaper as the price goes up, making it impossible for a buyer to lose money.
2 Likes
Yeah, can’t be found on robinhood for some reason.
gme exploding
1 Like
This is super helpful, thanks.
1 Like
Wait slow down. My mortal brain can’t keep up with all this math and wonky terms like “bad idea” and “good”.
If you gain control of Koss can I get a free set of the electros to review in hi-fi thread?
1 Like
What bobman said
Citadel is not frontrunning the orders of randoms from Robinhood. For one, it would be illegal, but more importantly those orders are not large enough to move the market anyway (in general, from single users - not talking about when everyone decides to trade the same stock at once) so there isn’t any point.
If you tell me you’re going to buy 100 shares of apple in 10 minutes it’s not like I can make any money by running to buy ahead of you
I picked CLVS, NOK, and AMCX - the Larry, Moe and Curly of meme stonks.
Tin foil hat: Something has seemed weird about Nokia all this time. Wednesday when it was running it went from $40 to $80 in the blink of an eye and was halted. Then dropped back down to $40. Also some prominent WSB guy posted that it was a distraction.
I wouldn’t be surprised if we find out the last few days has been some hedge fund guys weaponizing WSB against some other hedge fund guys. Didn’t all this GME stuff only really go nuts after some $70M institutional order? They seem to be focusing the action on certain stonks, and knew how to make NOK stop right when it was running - by placing some ridiculous order to circuit break the system maybe?
market really selling off
Actually this 100%. I misread #1
Then probably don’t take out a margin loan and put 200% of your money on a single stock
Gonna be a hell of a thing when the 2021 financial collapse is caused by redditors and hedge funds going to war over gamestop.
“Wrong” is subjective but the fact that he’s an advisor means that there is a ton of regulations that apply to his activity that don’t apply to a random WSB investor. All registered firms are required by the SEC to have codes of conduct and his employer has an obligation to supervise his personal trading for evidence of misconduct of conflicts of interest. At a minimum if he is employed he is about to become very unpopular with his compliance department.
What if, say, you had real-time access to the trading data for retail investors on a large platform, and on that large platform, some 50% of the users all owned a certain stonk. So, for example, you had the ability to see the aggregated limit sale orders for said stonk. That seems like it would be valuable, no? Perhaps superuser-level valuable, right?
1 Like
Right, like, wasn’t the initial post something about GME being DEEP VALUE due to having cash? I don’t think it was “let’s pump this and dump it” like the crypto Discords.
2 Likes