CHA-STONK
@anon24898493 if you go to AOC’s twitch page Twitch there should be her past broadcasts if you scroll down a tad
SKNOTS
oh wow nice. I think the first ~45 mins are her just trying to figure out how zoom works. She really should have practiced beforehand or had some coaching.
Stanks
Yeah it was like half an hour lol.
RUN IT UP!
Looks like the WSB guys are set up on other brokers now because GME rocketing.
those guys are just pawns in this gme game now though they probably are the only thing propping up AMC atm
I doubt it. There are a TON of them. Even before this blew up there was 2 million people in the sub. Plus this blew up, like I said before tons of normies who don’t do the stock market were buying GME on twitter,Facebook etc. I had a bunch of my leftist friends buying GME yesterday simply to fuck the hedgefunds.
As we see with individual donors, when you get a LOT of people you can raise a fuckton of money. I’m sure bunch of hedgefunds and sharks are in on the game now but I wouldn’t underestimate the probably tens of thousands of degens who are all in on this.
Thanks for the LMAO research @spidercrab ; I’ve now split my shares between LMFA and LMAOU. A very insignificant amount of money of course.
Can someone explain to me like I’m 5 why Robinhood is losing money with this GME stonking.
I think I saw some explanations above about how long the trades take to clear or something like that, but I need it dumbed down more.
A user enters a trade, they execute the trade. If they give someone margin, and things go south, they make a margin call.
What does GME mooning have to do with any of this? And how do we draw a line from GME mooning to RH losing money and needing to borrow some.
well I don’t know for sure but they needed to go to every bank and borrow whatever they could get yesterday so it sure looks like for all the squeeze talk–they are the ones who got squeezed.
Today was not stonks for me, SAD
Between the time the trade is executed and settled (takes 2 days), RH has a liability to the clearing house that settles the trade. Typically, a broker has a similar amount of unsettled buys and sells, so they their net liability is minimal. With everyone on Robinhood buying they now have a big liability to the clearing house. The clearing house requires the broker to post some money as collateral for this liability. It also sounds like the clearing house is requiring a higher percent of collateral for GME and other volatile stocks.
Robinhood is not allowed to use client funds as collateral (SEC rules to protect the client so until they get the stock, their money is safe). Thus, Robinhood needs to use a lot of its own money as collateral for the clearing house - even though they have not lost any money.