ZRod Posted January 29, 2021 Share Posted January 29, 2021 1 hour ago, BigRedBuster said: Really??? I know it’s a shady business. But someone in Wall Street that is found to be spreading false information with the sole purpose of stock manipulation is very heavily regulated. That’s the line that they know they can’t cross without major problems. Look up the guy they WSB is battling on this strategy. He's been in trouble before, but he's still managing the hedge fund that is Melvin Capital. Link to comment
Archy1221 Posted January 29, 2021 Share Posted January 29, 2021 38 minutes ago, ZRod said: They literally went on MSNBC the last couple weeks trying to bust the rise. The worst that will happen to them is they will get fined and continue on. WSB is accusing these guys of market manipulation on multiple fronts; through the media, through bear raids, and now through straight blocking the buying of stocks. WSB is like 4chan language wise, but these guys did the DD this time and saw it coming a mile away. They claim to be autists but there are some pretty smart people over there. You didn't have to be rich to make a good chunk of money off this either. Last week the stock was under $40 a share. If you bought $2000 @ $40 per share, then sold at the peak of $347 per share this week you would have made $15,350. You don't have to be rich at all to do that, and it's a very significant amount of money for any lower or middle class person. I’m sure there were many professional investors riding this wave also, just with an extra zero or two behind the numbers 1 Link to comment
Archy1221 Posted January 29, 2021 Share Posted January 29, 2021 38 minutes ago, ZRod said: Look up the guy they WSB is battling on this strategy. He's been in trouble before, but he's still managing the hedge fund that is Melvin Capital. Citadel bailed out Melvin and Citadel is RH’s biggest source of funds I believe. Musk is egging this all on because either Melvin or Citadel was a big Tesla short so he’s pissed about that. 1 Link to comment
teachercd Posted January 29, 2021 Share Posted January 29, 2021 Musk is mad because he didn't add GameStop in ((^H$$p#)), portfolio,. By the way that is his sons name. Link to comment
ZRod Posted January 29, 2021 Share Posted January 29, 2021 1 hour ago, Archy1221 said: I’m sure there were many professional investors riding this wave also, just with an extra zero or two behind the numbers Oh, no doubt. Even with 2 million followers there is no way WSB could have driven the price up over $400 per share on their own. Michael Burry of The Big Short fame took a 17 million dollar position in GameStop in 2019. So you know there are some big boys around this one. Link to comment
Omaha-Husker Posted January 29, 2021 Share Posted January 29, 2021 Good lord this of all things got Jon Stewart to join twitter. Link to comment
Omaha-Husker Posted January 29, 2021 Share Posted January 29, 2021 19 minutes ago, ZRod said: Oh, no doubt. Even with 2 million followers there is no way WSB could have driven the price up over $400 per share on their own. Michael Burry of The Big Short fame took a 17 million dollar position in GameStop in 2019. So you know there are some big boys around this one. The Chewy founder is the real winner here, owns about 13% of the shares. Also it was from Dec 2019 data, but Norway's pension fund held like 2.5% of GameStop shares too which is hilarious. Link to comment
BigRedBuster Posted January 29, 2021 Author Share Posted January 29, 2021 10 hours ago, Omaha-Husker said: The Chewy founder is the real winner here, owns about 13% of the shares. Did he sell at the high? If not, it didn't change much for him. 1 Link to comment
RedDenver Posted January 29, 2021 Share Posted January 29, 2021 15 hours ago, BigRedBuster said: Really??? I know it’s a shady business. But someone in Wall Street that is found to be spreading false information with the sole purpose of stock manipulation is very heavily regulated. That’s the line that they know they can’t cross without major problems. We watched stock manipulation crash the economy in 2008 and literally no one was held accountable. Not even the ratings people that were lying about the credit worthiness of the investments. 1 Link to comment
knapplc Posted January 29, 2021 Share Posted January 29, 2021 16 hours ago, BigRedBuster said: If people have the money to invest enough to move a stock this much, it's not being done by "the poor". I don't understand this. Five million people putting in $5 each have the same purchasing power as one dude with $25mm. Link to comment
BigRedBuster Posted January 29, 2021 Author Share Posted January 29, 2021 4 minutes ago, knapplc said: I don't understand this. Five million people putting in $5 each have the same purchasing power as one dude with $25mm. How many people invested in GameStop in the last week to make the stock go up 2,000%? Link to comment
BigRedBuster Posted January 29, 2021 Author Share Posted January 29, 2021 18 minutes ago, RedDenver said: We watched stock manipulation crash the economy in 2008 and literally no one was held accountable. Not even the ratings people that were lying about the credit worthiness of the investments. Yep...I agree and that sucked. That wasn't due to misinformation being purposely disseminated by these people for the sole purpose of manipulating a company's stock. That's the only point I'm making. That is very illegal and is heavily regulated. Link to comment
knapplc Posted January 29, 2021 Share Posted January 29, 2021 1 minute ago, BigRedBuster said: How many people invested in GameStop in the last week to make the stock go up 2,000%? I don't have the first clue where to find that information. I do know r/WallStreetBets has two million subscribers, and around half of them had GME stock as recently as earlier this week. Link to comment
BigRedBuster Posted January 29, 2021 Author Share Posted January 29, 2021 This isn't from misinformation...but it's arrests made on stock manipulation. https://www.marketwatch.com/story/two-traders-arrested-over-alleged-manipulation-of-more-than-2000-stocks-2016-12-12 https://www.sec.gov/news/press-release/2019-216 Quote Washington D.C., Oct. 16, 2019 — The Securities and Exchange Commission has filed an emergency action and obtained an asset freeze against 18 traders in a scheme to manipulate more than 3,000 U.S.-listed securities for over $31 million in illicit profits. The SEC alleges that the traders, who are primarily based in China, manipulated the prices of thousands of thinly traded securities by creating the false appearance of trading interest and activity in those stocks, thereby enabling them to reap illicit profits by artificially boosting or depressing stock prices. For example, according to the SEC's complaint, the traders used multiple accounts to place several small sell orders to drive down a stock’s price before using a different set of accounts to buy larger amounts of the stock at the artificially low prices. After accumulating their position, the traders then flipped the script and placed several small buy orders to push up prices so they could then sell their stock at artificially high prices. 1 Link to comment
BigRedBuster Posted January 29, 2021 Author Share Posted January 29, 2021 Quote Five years ago, the global financial system was rocked by the “flash crash,” 15 minutes of chaos that shook the world’s biggest markets and prompted investors both big and small to question how such a vital part of the economy could be brought to its knees. On Tuesday, United States prosecutors said that much of the blame for the event could be pinned on a single person: a 36-year-old man who had been boldly manipulating markets from his suburban rowhouse just a few minutes from Heathrow Airport outside London, where he was arrested. https://www.nytimes.com/2015/04/22/business/dealbook/trader-in-britain-arrested-on-charges-of-manipulation-that-led-to-2010-flash-crash.html So...yes....people are arrested for manipulating the markets for their own benefit. Link to comment
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