Roaring Kitty House Testimony

Pekelo said:
So he is being sued (that was kind of expected, since this is America, and nobody is responsible for their own stupidity):

"The would-be plaintiff representing investors in the case, Christian Iovin of Washington state, sold $200,000 worth of call options on GameStop shares when the stock was below $100. The stock quickly eclipsed $400 a share, forcing him to buy the calls back at elevated prices."

I say this moron's case should be thrown out by the judge. Looks like the moron sold naked calls...
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Did Bill Ackman get called in to testify for his CNBC stunt? The fake weepy voice telling us it’s the End while selling his Swaps? Than buying solid stocks(CMG, MAR, H ect) his fear mongering caused to collapse? CNBC had people calling in to get him off the air.
 
Pekelo said:
So he is being sued (that was kind of expected, since this is America, and nobody is responsible for their own stupidity):

"The would-be plaintiff representing investors in the case, Christian Iovin of Washington state, sold $200,000 worth of call options on GameStop shares when the stock was below $100. The stock quickly eclipsed $400 a share, forcing him to buy the calls back at elevated prices."

I say this moron's case should be thrown out by the judge. Looks like the dumbass sold naked calls...

https://www.bloomberg.com/news/arti...-sued-for-securities-fraud-over-gamestop-rise
More...

Well of course there will ALWAYS be vultures who go after people who they always think have got a "windfall" to see if they can get a piece of their pie because they themselves are mediocre idiots who can only survive by being parasites to others.

Hope that lawsuit is dismissed. There is no rule that says that somebody who's got a trading license cannot trade for themselves. It's like saying a doctor cannot treat himself just because he has a medical license. Doctor House would be in so much trouble... LOL
 
JSOP said:
Yeah EXACTLY what I have been saying. The SEC's got NOTHING on him! The first three paragraphs, "before he went further", were basically him outlining how he disqualifies every single criterion, one by one, in the FINRA and SEC regulations about front-running and insider trading.

And the rest is just violin-playing starting with his humble beginning, his mom being a registered nurse (one of the occupations who work on the front-line in the battle against COVID), very nice touch! He is just an average Joe who happened to like a stock, a stock that I have said many times myself here that is not too bad and creates nostalgia in the gaming community and he gave back to the community, supported his family even amidst the most difficult times during COVID. Yes I can see the tears...

And most important of all, he showed he had losses too, not just like Harry Markopolous said "profit at 45 degree angle slope going up" and he is not the only one who believed positively in the stock and the company.

Very well said indeed!! Glad he got some professional help in helping him preparing this testimony. And glad he advocated at the end for investigations into the market manipulative action of stopping the purchase of shares of a publicly-traded company. Sky is supposed to be the limit for stock prices, not when some clearinghouses deem it's too "risky" for them when they are holding the losing positions. When it's us retail traders who shorted call options, then of course our loss is unlimited just like any payoff diagrams would show.

Goliath, the game is on!!! Let's see what kind of "sob story" that the hedge fund Melvin Capital, Gabe Plotkin has. So far, no good. He's a graduate of Northwestern University (one of the top universities in the USA) with an Economics degree (a professional financial degree) and is a recipient of insider information while working as a portfolio manager at SAC for Steven Cohen and was even named in one of the SEC investigations... https://en.wikipedia.org/wiki/Melvin_Capital.
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Good lord they BETTER let this guy off. The more I red about this the more pissed off I get.
 
FINRA and the SEC have reams of rules about licensed users trading, balance in statements, and approvals that may be required.

If it's a classic pump and dump, both his employer and he could have massive liability.
 

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Pekelo said:
So he is being sued (that was kind of expected, since this is America, and nobody is responsible for their own stupidity):

"The would-be plaintiff representing investors in the case, Christian Iovin of Washington state, sold $200,000 worth of call options on GameStop shares when the stock was below $100. The stock quickly eclipsed $400 a share, forcing him to buy the calls back at elevated prices."

I say this moron's case should be thrown out by the judge. Looks like the dumbass sold naked calls...

https://www.bloomberg.com/news/arti...-sued-for-securities-fraud-over-gamestop-rise
More...


Selling naked calls on a volatile stock.... haha...

He deserves to be wiped out.
 
ajacobson said:
If it's a classic pump and dump, both his employer and he could have massive liability.
More...

Nope. His ex-company could sue him for failing his compliance but there is no point to do so. Nobody lost money from the firm's clientele and he is not there anymore.

You may want to watch his videos first before you try to form an opinion.
 
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