Re: Stock market question for those in the know
[Re: Grandpa Trapper]
#7160557
01/29/21 02:07 PM
01/29/21 02:07 PM
|
Joined: Dec 2006
Posts: 18,363 Rodney,Ohio
SNIPERBBB
trapper
|
trapper
Joined: Dec 2006
Posts: 18,363
Rodney,Ohio
|
Apparently some of the platforms have reenabled trading as the stock is up 70% or close to it today.
BTW Bitcoin is up 6000 from yesterday
Last edited by SNIPERB🦝; 01/29/21 02:07 PM.
|
|
|
Re: Stock market question for those in the know
[Re: SNIPERBBB]
#7160560
01/29/21 02:10 PM
01/29/21 02:10 PM
|
Joined: Mar 2007
Posts: 35,532 McGrath, AK
white17
"General (Mr.Sunshine) Washington"
|
"General (Mr.Sunshine) Washington"
Joined: Mar 2007
Posts: 35,532
McGrath, AK
|
It's already been halted for the most part as your not being allowed to buy the stock, only sell. My understanding is that the hedge funds had shorted more shares than there were available to purchase, a group of investors on Reddit noticed it and triggered a mess. Think of the scene at the end of Trading Places with Eddie Murphy and Dan Akroyd but in reverse. Prices started soaring as the hedge funds had to try to buy shares as quick as they could to minimize losses.
Similar stocks are in the same position and already they're blocking those shares from being bought. Buying is not currently halted. I can buy shares right now with one mouse click. I'm not going to but I could. One of the problems is that one group of players is constrained by and acting within the law. The other group is not. This will not end well for anyone if it's allowed to continue. You're right too that this same reddit group is moving on to stocks like American Airlines, Bed Bath & Beyond and a few others. Stay far away !!
Mean As Nails
|
|
|
Re: Stock market question for those in the know
[Re: white17]
#7160564
01/29/21 02:15 PM
01/29/21 02:15 PM
|
Joined: Dec 2006
Posts: 18,363 Rodney,Ohio
SNIPERBBB
trapper
|
trapper
Joined: Dec 2006
Posts: 18,363
Rodney,Ohio
|
It's already been halted for the most part as your not being allowed to buy the stock, only sell. My understanding is that the hedge funds had shorted more shares than there were available to purchase, a group of investors on Reddit noticed it and triggered a mess. Think of the scene at the end of Trading Places with Eddie Murphy and Dan Akroyd but in reverse. Prices started soaring as the hedge funds had to try to buy shares as quick as they could to minimize losses.
Similar stocks are in the same position and already they're blocking those shares from being bought. Buying is not currently halted. I can buy shares right now with one mouse click. I'm not going to but I could. One of the problems is that one group of players is constrained by and acting within the law. The other group is not. This will not end well for anyone if it's allowed to continue. You're right too that this same reddit group is moving on to stocks like American Airlines, Bed Bath & Beyond and a few others. Stay far away !! There's some debate as to whether the Reddit thing was legal. Most of what Ive seen suggest it is legal because it was public information.
|
|
|
Re: Stock market question for those in the know
[Re: Grandpa Trapper]
#7160574
01/29/21 02:20 PM
01/29/21 02:20 PM
|
Joined: Mar 2007
Posts: 35,532 McGrath, AK
white17
"General (Mr.Sunshine) Washington"
|
"General (Mr.Sunshine) Washington"
Joined: Mar 2007
Posts: 35,532
McGrath, AK
|
I disagree. Short sellers serve a public interest by raising questions about accounting practices, false reporting, defective products, misleading statements in SEC documents. Some times they are wrong but if they were wrong most of the time they would be out of business.
What the hedge funds are doing is, as Tim notes above, perfectly legal. On the other hand, the Reddit group MAY be the ones engaged in price manipulation by conspiring online with one another.. I know that sounds like a stretch, but just imagine if the hedge funds were talking with one another and coordinating their activities.
You can't have a market where only one side plays by the rules. Sort of like elections.
Mean As Nails
|
|
|
Re: Stock market question for those in the know
[Re: white17]
#7160590
01/29/21 02:41 PM
01/29/21 02:41 PM
|
Joined: Feb 2010
Posts: 19,896 pa
hippie
trapper
|
trapper
Joined: Feb 2010
Posts: 19,896
pa
|
I disagree. Short sellers serve a public interest by raising questions about accounting practices, false reporting, defective products, misleading statements in SEC documents. Some times they are wrong but if they were wrong most of the time they would be out of business.
What the hedge funds are doing is, as Tim notes above, perfectly legal. On the other hand, the Reddit group MAY be the ones engaged in price manipulation by conspiring online with one another.. I know that sounds like a stretch, but just imagine if the hedge funds were talking with one another and coordinating their activities.
You can't have a market where only one side plays by the rules. Sort of like elections. They do have a place(short sellers)but when the CEO'S of the hedge funds companies go on tv bad mouthing a stock to manipulate it to their benefit and someone beats them at their own game, game on.
|
|
|
Re: Stock market question for those in the know
[Re: WestTexan]
#7160592
01/29/21 02:41 PM
01/29/21 02:41 PM
|
Joined: Feb 2010
Posts: 19,896 pa
hippie
trapper
|
trapper
Joined: Feb 2010
Posts: 19,896
pa
|
Wall Street can dogpile with "shorts", so the average day-trader should be able to buy "long" and drive the price up. The elites just hate the fact that the average Joe (who they view as beneath them) is beating them and costing them billions. The fact of the matter is the hedge fund game has been put on notice that they can't rape and pillage without exposing themselves and potentially taking one in the shorts. Even with the massive wrongdoing yesterday by halting all buying, I predict the elites will escape without any legal ramifications as usual. Wall St. is in bed with D.C., and we've seen how they view "justice". Its a joke. Yep.
|
|
|
|
|