Anyone holding GME shares?

[IanSmithCSE]

Good morning,

I’m know nothing about this. so here’s a stupid question.
How can yourestrict Buying but not Selling.
Who are they selling too?

The whole thing stinks. It just seems like the big boys have got angry because the little boys turned up on their pitch and beat them.

Most publicly available shares are traded on large stock exchange similar to the London Stock Exchange in England or the New York or NASDAQ in the USA.

Retail investors, in general and there are exceptions, can not get access to this exchange they create an account with a third party who is financially big enough and stable enough to be trusted and that third party buys and sells on the exchange on behalf of the retail customer.

So if you buy shares via say Robinhood, Robinhood can say we are only allowing sells because most of the retail world will be buying via other third parties and the institutional investors have direct access to the exchange.

There are of course a lot of grey areas.

Bye

Ian

 

[BrumJim]

I think a Certain Society needs to look at selling some share-trading-Lincoln-green style merchandising!

 

[nickyboy]

I think a Certain Society needs to look at selling some share-trading-Lincoln-green style merchandising!

Hey, what a great idea!

@RobinHood which is the Twitter of the Nottingham-based Robin Hood Society blew up yesterday with GME investors spending profits on arrows and felt hats for the bantz

 

[Drago]

Deliberately consipiring to manipulate stock values by 'legal' means or otherwise is illegal on both sides of the Atlantic. Unfortunately, this lot have been making their plans on a public forum and their names and faces are plastered all over social media, and it is now being suggested that it won't be long before they get dropped on very hard.

Individually doing what they did is one thing. Planning a co-ordinated mass action with a view to manipulate the stock values is entirely another, whether they personally intended to profit from it or not (and, funnilly enough, many of them did profit quite grandly) and I fear their exceitment at having supposedly given Wall Street a bloody nose is going to backfire spectacularly. Don't do it kids.

 

[Eziemnaik]

Deliberately consipiring to manipulate stock values by 'legal' means or otherwise is illegal on both sides of the Atlantic. Unfortunately, this lot have been making their plans on a public forum and their names and faces are plastered all over social media, and it is now being suggested that it won't be long before they get dropped on very hard.

Individually doing what they did is one thing. Planning a co-ordinated mass action with a view to manipulate the stock values is entirely another, whether they personally intended to profit from it or not (and, funnilly enough, many of them did profit quite grandly) and I fear their exceitment at having supposedly given Wall Street a bloody nose is going to backfire spectacularly. Don't do it kids.

By your logic CNBC and Bloomberg are guilty of stock manipulation when they signal buy and sell

 

[Eziemnaik]

View: https://twitter.com/verge/status/1354949524700205066?s=20

Solidarity among the elites

 

[Drago]

By your logic CNBC and Bloomberg are guilty of stock manipulation when they signal buy and sell

Its not my logic, its the law.

And if you don't believe me you can ask the Financial Conduct Authority, who have just now announced that they are investigating whether the group conspired to deliberately inflate the share price, which is a crime in both jurisdictions.

At face value, certainly if the tabloid reporting is to be believed, not only have they done so, but they've done much of their plotting on a public forum.

Oops!

 

[Milkfloat]

I am very much on the side of the small investor here, although if they get burnt within the rules it is their own fault. What I do have a problem with is protecting the shorting hedge funds who have been manipulating the markets for years, making huge profits and stiffing the small investor. Changing the rules to suit the big boys midway through all this and cutting off the small investor just to protect the hedge funds sits very uneasy with me and can only reduce confidence in the system in overall.

 

[Eziemnaik]

Its not my logic, its the law.

And if you don't believe me you can ask the Financial Conduct Authority, who have just now announced that they are investigating whether the group conspired to deliberately inflate the share price, which is a crime in both jurisdictions.

At face value, certainly if the tabloid reporting is to be believed, not only have they done so, but they've done much of their plotting on a public forum.

Oops!

Even if they did I am very excited to see these headlines:
TiTiEz69 and 420bigDhaddy charged with stock manipulation
STONKSrulez becomes a whistleblower

On a side note, it just shows the law is for small people

 

[nickyboy]

Its not my logic, its the law.

And if you don't believe me you can ask the Financial Conduct Authority, who have just now announced that they are investigating whether the group conspired to deliberately inflate the share price, which is a crime in both jurisdictions.

At face value, certainly if the tabloid reporting is to be believed, not only have they done so, but they've done much of their plotting on a public forum.

Oops!

Zero chance of any proceedings against them. Political suicide by whoever instigates it. No appetite amongst US general public to prosecute ordinary folk who have, as a one off, managed to get one over on Hedge Fund managers.
Just have a look at the broad swathe of politicians calling out Robin Hood yesterday

 

[KneesUp]

Quite the rollercoaster in the first 75 minutes ....

 

[Beebo]

The short sellers had positions on over 100% of the issue shares.
How can it be legal to short more than the total value of a company.
That’s why it all went nuts in the scramble to buy shares as there weren’t enough to meet their obligations.

 

[KneesUp]

The short sellers had positions on over 100% of the issue shares.
How can it be legal to short more than the total value of a company.
That’s why it all went nuts in the scramble to buy shares as there weren’t enough to meet their obligations.

It's still going nuts - this dip is engineered - hardly anyone is selling shares according to reddit

 

[RoadRider400]

Higher prices haven't been sustained by fundamentals since at least 2008

I doubt think many of those buying in have even read the fundamentals.

IMO it certainly isnt an appealing investment based on the current market cap. If you are buying in purely to join in trying to get one over on a hedge fund, then I suppose that might be appealing to some. Good luck to anybody wanting to sell if everybody else decides to get out at the same time.

 

[Eziemnaik]

Of course it is not worth 400$. It may not be even worth 100$. But it is not a zombie company either.
Apparently M.Burry made a killing, he had a long position since last year