Haha turning point in history.
― Van Horn Street, Thursday, 28 January 2021 18:28 (three years ago) link
WOW. pic.twitter.com/uIWyXtiOjO— Peter Labuza (@labuzamovies) January 28, 2021
― lag∞n, Thursday, 28 January 2021 18:30 (three years ago) link
Yeah I saw that. I just don’t get why you’d short sell rather than buy put options if you think a stock is going down given the unlimited downside of short selling.
― 𝔠𝔞𝔢𝔨 (caek), Thursday, January 28, 2021 10:28 AM (one minute ago)
Guess: it's because the upside is potentially much higher and huge shorts aren't used to there being any investors with the tools and risk appetite to bet against them?
― Canon in Deez (silby), Thursday, 28 January 2021 18:31 (three years ago) link
Yeah I guess my question boils down to why does anyone buy stocks when they can buy options and bound their losses, and I assume there are thousands of reasons.
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 28 January 2021 18:32 (three years ago) link
greed and collusion are two
― fbclid=fhAZ3l (f. hazel), Thursday, 28 January 2021 18:33 (three years ago) link
I was saying to a hoos on twitter that it'd certainly be Interesting if this episode led (say) several million index investors who sock cash into their vanguard Roths and don't touch it (like yrs truly) to consider investing instead in a somewhat less diverse basket of stocks that are basically picked on the basis of "is this a normal company that people understand and that isn't involved in petroleum extraction?"
Like can you bolster the enterprises that despite capitalism actually do matter to people's lives and the cities they live in? AMC is a big dumb chain but big dumb chains are a good place to see big dumb movies
― Canon in Deez (silby), Thursday, 28 January 2021 18:34 (three years ago) link
BREAKING: Class action complaint against @RobinhoodApp filed in the southern district of NYhttps://t.co/DuGP3LIQDQ pic.twitter.com/mw82RRoA2L— Lydia Moynihan (@LJMoynihan) January 28, 2021
― k3vin k., Thursday, 28 January 2021 18:36 (three years ago) link
― 𝔠𝔞𝔢𝔨 (caek), Thursday, January 28, 2021 1:28 PM (six minutes ago) bookmarkflaglink
i think its mainly because puts cost more but also cause they expire, so in order to make money with puts the stock has to drop quite a bit over a fixed time frame, where with shorts you can make money on small fluctuations
― lag∞n, Thursday, 28 January 2021 18:37 (three years ago) link
Who will form a meme fund where investors upvote the funniest stocks for the fund to invest in?
― Joe Biden Stan Account (milo z), Thursday, 28 January 2021 18:42 (three years ago) link
they are going to need to file complaints against a lot of brokers today.
― Yerac, Thursday, 28 January 2021 18:43 (three years ago) link
seems like a good thing (for me) that might have a chance of getting the freeze enjoined
― k3vin k., Thursday, 28 January 2021 18:45 (three years ago) link
ugh i wrote a thing and it did not go through. Melvin cap also had puts you can see their positions if you search online for their 13f. I think they closed those out though. Some options strategies you should own the underlying. But i figure one does the math on paying the option premium that has time decay vs. borrowing shares to sell and paying the borrow rate or not borrowing shares and just shorting anyway and skipping the borrow rate.
― Yerac, Thursday, 28 January 2021 18:46 (three years ago) link
would you say that the squeeze is in fact squoze?
― maf you one two (maffew12), Thursday, 28 January 2021 18:51 (three years ago) link
fwiw, small time traders learned early on that the internet allowed them to contact hundreds of thousands of people via spam emails and they used that conduit to 'pump and dump' penny stocks by suckering people into buying based on vague 'tips' full of garbage info. this reddit scheme was just a more clever and successful stock manipulation using less questionable means.
― Compromise isn't a principle, it's a method (Aimless), Thursday, 28 January 2021 18:52 (three years ago) link
People still pump and dump penny stocks. But i guess it's if you think the company actually has value. That thing above is wrong though, it didn't start weeks ago with some guy convincing people to buy. It's been a much traded stock on that subreddit for over a year due to the console cycle and the turnaround business.
― Yerac, Thursday, 28 January 2021 18:57 (three years ago) link
The squeeze= all info regarding shares available to borrow and short rate are pretty public on the internet. You can see volume traded each day, the current stock float. You make the determination based on the info you have .
― Yerac, Thursday, 28 January 2021 19:01 (three years ago) link
feel like it's gonna open at 5 cents tomorrow
― maf you one two (maffew12), Thursday, 28 January 2021 19:10 (three years ago) link
i wonder what family guy-reference stock is going to be next
― satanist of size (map), Thursday, 28 January 2021 19:18 (three years ago) link
this has resulted in me doing some soul-searching and confirming that i'd rather stay poor and cool than get rich and turn into a nerd.
― satanist of size (map), Thursday, 28 January 2021 19:20 (three years ago) link
I've been a nerd all my life, wouldn't mind having means to go along with it.
― Motoroller Scampotron (WmC), Thursday, 28 January 2021 19:23 (three years ago) link
If I could have gotten in early enough to pay off my mom's mortgage I'd have been willing to become one of those nerds that defends Elon Musk on Twitter for at least two weeks.
― Joe Biden Stan Account (milo z), Thursday, 28 January 2021 19:25 (three years ago) link
I'll listen to an entire Grimes album!
― Joe Biden Stan Account (milo z), Thursday, 28 January 2021 19:27 (three years ago) link
They are automatically selling shares. pic.twitter.com/o9XCdL9ND1— Sunny (@555Sunny) January 28, 2021
― reggae mike love (polyphonic), Thursday, 28 January 2021 19:28 (three years ago) link
Wild
― maf you one two (maffew12), Thursday, 28 January 2021 19:29 (three years ago) link
Is Robin Hood technically a brokerage? Aren't brokerages all covered by FINRA arbitration and therefore not subject to class actions?
― longtime caller, first time listener (man alive), Thursday, 28 January 2021 19:30 (three years ago) link
That's crazy lol
― A Scampo Darkly (Le Bateau Ivre), Thursday, 28 January 2021 19:31 (three years ago) link
see near the bottom of that domain linked above, about margins... Whatever they are, it doesn't seem like the kind of thing you'd want to be using for this if you had access to a big bank brokerage account.
― maf you one two (maffew12), Thursday, 28 January 2021 19:34 (three years ago) link
Wait, this is legal? (Signed, a philistine.)
― pomenitul, Thursday, 28 January 2021 19:34 (three years ago) link
It's too bad RobinHood isn't publicly traded, it could become the new meme stock after it crashes to pennies.
― Joe Biden Stan Account (milo z), Thursday, 28 January 2021 19:38 (three years ago) link
I feel like this is blatantly illegal, but they figure the SEC fine will be less than the amount they'd lose if they didn't liquidate
― frogbs, Thursday, 28 January 2021 19:40 (three years ago) link
I was saying to a hoos on twitter that it'd certainly be Interesting if this episode led (say) several million index investors who sock cash into their vanguard Roths and don't touch it (like yrs truly) to consider investing instead in a somewhat less diverse basket of stocks that are basically picked on the basis of "is this a normal company that people understand and that isn't involved in petroleum extraction?"Like can you bolster the enterprises that despite capitalism actually do matter to people's lives and the cities they live in? AMC is a big dumb chain but big dumb chains are a good place to see big dumb movies
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 28 January 2021 19:41 (three years ago) link
robinhood was trying to go public this year.
― Yerac, Thursday, 28 January 2021 19:44 (three years ago) link
it's wonderful that something named robinhood is what's going to get screwed from this
― satanist of size (map), Thursday, 28 January 2021 19:46 (three years ago) link
i just laugh because the name and logo is so Pied Piper
― (•̪●) (carne asada), Thursday, 28 January 2021 19:50 (three years ago) link
there might be some relation to them and Citadel (the fund that loaned Melvin money) taking user info for their own trades but i haven't had time to confirm anything.
― Yerac, Thursday, 28 January 2021 19:50 (three years ago) link
glad i wasn't the only one
― soaring skrrrtpeggios (jon /via/ chi 2.0), Thursday, 28 January 2021 20:26 (three years ago) link
It's too bad RobinHood isn't publicly traded, it could become the new meme stock after it crashes to pennies.― Joe Biden Stan Account (milo z), Thursday, January 28, 2021 2:38 PM (fifty-eight minutes ago) bookmarkflaglink
― Joe Biden Stan Account (milo z), Thursday, January 28, 2021 2:38 PM (fifty-eight minutes ago) bookmarkflaglink
A RobinHood IPO is in the works. Today's actions could have...interesting consequences.
― Infanta Terrible (j.lu), Thursday, 28 January 2021 20:39 (three years ago) link
this is the most fascinating news story i've ever followed, honestly
― treeship., Thursday, 28 January 2021 20:39 (three years ago) link
And I've seen screencaps elsewhere suggesting RobinHood's terms and conditions authorize them to sell in response to something like extraordinary circumstances. But at least two suits have been filed already, so the lawyers are already fighting.
― Infanta Terrible (j.lu), Thursday, 28 January 2021 20:41 (three years ago) link
it was a risky move on their part. obviously, wall street itself wants to stem the losses -- it's not just a few big hedge funds
― treeship., Thursday, 28 January 2021 20:43 (three years ago) link
Boomers are onto us pic.twitter.com/Qqf89AJKIK— Fifty Shades of Whey (@davenewworld_2) January 28, 2021
― (•̪●) (carne asada), Thursday, 28 January 2021 20:48 (three years ago) link
The narrative that Robinhood stopping GME is some big wall street conspiracy against the little guy is some sort silicon-valley elon musk utopianism bullshit.
― Van Horn Street, Thursday, 28 January 2021 20:49 (three years ago) link
doesn't have to be a big conspiracy, just a couple entities colluding
― fbclid=fhAZ3l (f. hazel), Thursday, 28 January 2021 20:51 (three years ago) link
there's an alternate world where ilx accepted advertising, started getting funded and became reddit
i coulda been rich
you fuckers
― the serious avant-garde universalist right now (forksclovetofu), Thursday, 28 January 2021 20:52 (three years ago) link
If anything Robinhood ended a bleeding.
― Van Horn Street, Thursday, 28 January 2021 20:54 (three years ago) link
it's a little goofy to me that these ppl are/were dicking around on an app called *checks notes* robin hood, when etrade et al have been trying to get this volume of people to do this VERY THING! for the better part of 35 years.
― Its big ball chunky time (Jimmy The Mod Awaits The Return Of His Beloved), Thursday, 28 January 2021 20:54 (three years ago) link
robinhood has no fee trading is what makes it different
― lag∞n, Thursday, 28 January 2021 20:56 (three years ago) link
in that alternate world d0m p4ss4nt1n0 is the lad who was up 25 million yesterday on this. and lost 13 million today but is still up 12 million. and is doling out fp-gold. and 🚀holds the line🚀.
so this reality is not all bad tbf.
xp to forks
― A Scampo Darkly (Le Bateau Ivre), Thursday, 28 January 2021 20:57 (three years ago) link
very curious to find out exactly what led to their decision to stop trading on the meme stocks considering their business is obviously going to take a major hit from it
― lag∞n, Thursday, 28 January 2021 20:58 (three years ago) link
it's like how trump recoiled at his supporters storming the capitol. bad optics. looks trashy.
― treeship., Thursday, 28 January 2021 20:59 (three years ago) link