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Tommymac

(7,263 posts)

33. The Reddits did it to shine the light on Hedge Fund Scumbaggery.

Reply to Takket (Reply #8)

Thu Jan 28, 2021, 08:56 PM

Jan 2021

They in effect Unionized to show that the game is rigged - legally.

This is not stocks themselves, but derivatives. Totally different thing, but a source of huge $$$ for big companies.

Basically Gambling without a license.

My hat is off the the ones who started this. Some will make money, some will ose it - but they have exposed the dirty smelly innards of Wall Street and it's legal cons.

Occupy is not dead. Just matured.

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34 replies

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Highlight:

"The Squeeze of a Lifetime" or The GameStop stock frenzy, explained. Vox [View all] sagesnow Jan 2021 OP

Yes. BlueTsunami2018 Jan 2021 #1

As much as I like to see hedge fund guys get burned, this could go south in a bad way Fiendish Thingy Jan 2021 #2

👀 underpants Jan 2021 #3

The irrationality can only go so far... TheRealNorth Jan 2021 #4

It's a pyramid scheme, like all the others FakeNoose Jan 2021 #5

It's essentially turned into a well-organized 'pump-and-dump' scam. SeattleVet Jan 2021 #6

The irony of it all is that the people that began it are masquerading like they are "Robin Hood" TheRealNorth Jan 2021 #7

You don't get it. They (the Reddit folks) DON'T CARE that they lose money. Tommymac Jan 2021 #32

I think rather than PnD the Redditors see it as a way coti Jan 2021 #16

Would shorting Gamestop now make sense? Renew Deal Jan 2021 #21

It definitely could. nt coti Jan 2021 #22

Well the shorts came in pre-market and took GME down from 450 or so to the 270's. coti Jan 2021 #24

LOL, they halted it a minute in. nt coti Jan 2021 #25

they've already shorted more shares than there are available to sell fishwax Jan 2021 #23

That's called 'naked shorts' and it's illegal. SeattleVet Jan 2021 #27

Most of them aren't trying to get rich Ex Lurker Jan 2021 #30

i saw a news report on this and couldn't understand it....... Takket Jan 2021 #8

It is just naked gambling. Blue_true Jan 2021 #11

You're also right that the market is basically gambling coti Jan 2021 #14

With the mathematical algorithms that the big players employ, all Blue_true Jan 2021 #28

The Reddits did it to shine the light on Hedge Fund Scumbaggery. Tommymac Jan 2021 #33

Did I hear right, that hedgfunds can trade after market hours? sarcasmo Jan 2021 #34

I was under the impression that the Hedge Funds would SELL Blue_true Jan 2021 #9

I believe that so many of the Independent Redditt traders bought so many put options that sagesnow Jan 2021 #12

You're correct. nt coti Jan 2021 #13

Proof positive that a blind squirrel can find an acorn. Blue_true Jan 2021 #29

Yep. The hedge fund guys got out-hustled by a subreddit thread, and now they're all butthurt. Volaris Jan 2021 #10

That's it - Wall Street and investment banks have been fucking this country for decades . . . . hatrack Jan 2021 #18

There it is! Hugin Jan 2021 #20

It's up $135 this morning -pre market superpatriotman Jan 2021 #15

Might be fun to watch when the market opens. coti Jan 2021 #17

Dang. I sold my AAL stock last week Generic Brad Jan 2021 #31

This is the overall problem with the stock market and the way companies are managed Buckeyeblue Jan 2021 #19

This short-sell stuff is part of the 2008 market crash MissMillie Jan 2021 #26