Anyone in on the GME outrage right now?

vito2772

vito2772

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I'm sure you guys have seen the news with the GME short happening right now. Today many traders STOPPED retail buyers from buying anymore GME since the hedge funders are over 100% shorted in the stock, big no no, many law suits already filed. They are trying to save their asses before the big spike coming from the squeeze, from the supply of shares being so low now. What do you guys think of all of this?
 
I think that you peasants shall not eat!

Unfortunately if you read the Robinhood TOS, there is print that clearly gives them permission to do this, so I think any lawsuits will fall short.

Not saying it’s right though, it definitely is not.
 
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Rubi04 said:
Robin Hood has been selling shares off without permission.


It’s pretty fucked watching it unfold and hopefully pulls more curtain back for those who think we have freedom and no oligarchs overseeing our nation.
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From what I have seen, the shares they pulled were shares that people bought on margin, so at least some of the shares they bought weren't theirs. They yanked them. Its funny how all the big hedge funders turn the game off when they start losing. Not allowing people to buy shares so that they don't get deeper in the hole?? The game is only fair when they are winning. Now it is time to take back.

As long as share holders hold through this "forced" dip, they are going to be forced to buy up the short selling shares soon. That is when it is gonna skyrocket.

Yes this huge dip today and tomorrow is FORCED because of people not being able to buy and hedge funders trading quickly between each other to force the price down. They are hoping this will scare people to sell in order for them to buy shares up since they owe to buy about 140% of available shares in the market from shorting. That is also why RH was dropping shares from people accounts, to help them out to get more shares.

The same thing happened to Volkswagen in 2008. Big short. We are right at the dip before the huge spike. History does repeat itself...They still have about 60 Million shares tied up...

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Just another version of the old pump and dump except it's institutions and pumping amateur rubes that are taking the hit. The sharks participating in the pump have already dumped at a profit and moved on. I'm amazed that the pumpers found an information imperfection to exploit the institutions. No surprise about the rubes though.
 
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Chris said:
I think that you peasants shall not eat!

Unfortunately if you read the Robinhood TOS, there is print that clearly gives them permission to do this, so I think any lawsuits will fall short.

Not saying it’s right though, it definitely is not.
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They have permission over market order shares???? Or over margins only. That's fucked up if it is for market shares, that's theft!
 
vito2772 said:
They have permission over market order shares???? Or over margins only. That's fucked up if it is for market shares, that's theft!
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I’m not sure, but I was reading this:

https://www.dailywire.com/news/laws...nhood-after-restricting-trades-gamestop-stock
Read this excerpt from that article:

Miami lawyer Jeff Erez, who specializes in securities-fraud litigation and has represented clients against Robinhood before, is not optimistic the lawsuits will be successful, telling Bloomberg: “I’m looking at the Robinhood contract, and it says in black-and-white they can block or restrict trades at any time. I’m not aware of any law that would guarantee you a right to purchase a certain security at a certain brokerage firm.”
 
Chris said:
I’m not sure, but I was reading this:

https://www.dailywire.com/news/laws...nhood-after-restricting-trades-gamestop-stock
Read this excerpt from that article:

Miami lawyer Jeff Erez, who specializes in securities-fraud litigation and has represented clients against Robinhood before, is not optimistic the lawsuits will be successful, telling Bloomberg: “I’m looking at the Robinhood contract, and it says in black-and-white they can block or restrict trades at any time. I’m not aware of any law that would guarantee you a right to purchase a certain security at a certain brokerage firm.”
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"Block or Restricted" They definitely restricted. But could that still be applicable to SELLING OFF shares that someone else owns (if they are taking market shares). I guess these future law suits will tell.
 
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vito2772 said:
Its funny how all the big hedge funders turn the game off when they start losing. Not allowing people to buy shares so that you don't get deeper in the hole?? The game is only fair when they are winning. Now it is time to take back.
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Well said
 
Chris said:
I think that you peasants shall not eat!

Unfortunately if you read the Robinhood TOS, there is print that clearly gives them permission to do this, so I think any lawsuits will fall short.

Not saying it’s right though, it definitely is not.
Click to expand...


I get that part. But they are outright blocking users from buying hot stocks posted to protect the hedge funds.


Pretty sure that is not in their TOS....
 
Rubi04 said:
I get that part. But they are outright blocking users from buying hot stocks posted to protect the hedge funds.


Pretty sure that is not in their TOS....
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I guess we will see what comes from the lawsuits. I am just repeating what the lawyer said.
 
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Not GME but I have 2000 share AMC from earlier in 2020 that was picked up for $2.92 / share. Similar shit though. Was on fire till the doused it. Still money ahead, and plan to hold it for a while.
 
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