SEC needs to shut down WSB and indict the instigators

[CET]

So your point is manipulation shouldn't matter because... other problems exist elsewhere? There are always going to be other issues elsewhere.

GME is a dying retailer, closing its brick and mortar stores by the thousands, about to go bankrupt. Games are being sold via download on online platforms like Steam, Epic Games Store, PlayStation Store. You can make a wild guess which retailer won't be part of it.

Prior to this year, GME's all time high was $62 in 2007. How could it possibly be worth eight times as much, $500, post Covid, when it loses money now instead of making it?

GME is an all but worthless stock and only took off because manipulators conspired to manufacture a short squeeze in what was at the time a micro cap (just a few months ago). It won't get more obvious. Pumping a dying micro cap for the sole purpose of manufacturing a short squeeze. If that's not manipulation, nothing is.

This BS happens everyday in small caps and micro caps, especially when they want to raise capital. The stock will have a big run for no reason and they dilute into the run.

Most of what happened with GME was hedge funds feeding on their own once the gamma squeeze started.

 

[comagnum]

The Reddit OP was long on GME at least 6 months, he simply alerted others to a potential short squeeze from short interest data that is in the public domain - far from unethical & definitely not illegal.

Jim Cramer gives a glimpse as to how they game is really played by hedge funds.

 

[bone]

LOL How naive. The same SEC who fined all the Wall Street executives selling toxic mortgage products ?

The SEC is part of the rigged game and you know it but won’t admit it.

he didn't speak about specifics, just made broad predictions. That's not illegal. If he was on TV, saying I am buying this, this and this, without proper disclosure and have his compliance officer approve his speech, them yes, he would be fined by the SEC.

Look at what happened to TELSA boy on Twitter, something like 80m USD fine by the SEC for a twitt asking to short his stock

 

[bone]

It is not illegal in any way shape or form for common ordinary people to publicly discuss and decide to buy or sell a stock.

It’s not insider trading. Is it market manipulation? It would be easier to make that case against the hedge funds who were insanely overlevered short GME.

Is GME’s stock price distorted? Certainly. But let the market decide. Such pussies these HF managers are.

The Reddit OP was long on GME at least 6 months, he simply alerted others to a potential short squeeze from short interest data that is in the public domain - far from unethical & definitely not illegal.

 

[bone]

And hopefully Robinhood goes under because they’ve been exposed as the exploitive hucksters they are fronting for Citadel.

 

[longshort]

You are misstating my point and totally ignoring the pervasive market manipulation by Wall Street.

I am pointing out your hypocrisy and glaring double standard. Why isn’t Bill Ackman in jail?

Bill Ackman appears on CNBC on March 17, 2020 raging about the end of times - and by March 23rd pockets $2.6 Billion on his hype.

Seems you touted your Ackman story a handful of times in this thread. How does it take away anything from the WSB manipulation, even if it were true?

According to Ackman, you got the timing of his trading wrong as he made $2.6 billion before going on CNBC. In a letter to his investors, he said:

"By Wednesday, March 18th at 12:30pm, when I appeared on CNBC, we had already sold slightly more than half of the notional amount of our CDS, realizing a gain of more than $1.3 billion, with the unrealized portion of our hedge having a market value at that time of $1.3 billion for a total of $2.6 billion. When my interview with Scott Wapner began, the S&P index was already down 6.5%. (...)

Importantly, our hedge had already paid off prior to my going on CNBC. In fact, we had sold more than half the hedge prior to the show, and the balance over the next three trading days. Our actual realized proceeds of $2.6 billion was equal to the total realized and unrealized profit we had already achieved prior to my going on CNBC. The hedge did not increase in value during or after I went on CNBC. It stayed at approximately the same value until we exited."

 

[bone]

Let’s talk about GME manipulation. Robinhood only alllowing customers to SELL GME.

Seems you touted your Ackman story a handful of times in this thread. How does it take away anything from the WSB manipulation, even if it were true?

According to Ackman, you got the timing of his trading wrong as he made $2.6 billion before going on CNBC. In a letter to his investors, he said:

"By Wednesday, March 18th at 12:30pm, when I appeared on CNBC, we had already sold slightly more than half of the notional amount of our CDS, realizing a gain of more than $1.3 billion, with the unrealized portion of our hedge having a market value at that time of $1.3 billion for a total of $2.6 billion. When my interview with Scott Wapner began, the S&P index was already down 6.5%. (...)

Importantly, our hedge had already paid off prior to my going on CNBC. In fact, we had sold more than half the hedge prior to the show, and the balance over the next three trading days. Our actual realized proceeds of $2.6 billion was equal to the total realized and unrealized profit we had already achieved prior to my going on CNBC. The hedge did not increase in value during or after I went on CNBC. It stayed at approximately the same value until we exited."

 

[zdreg]

I really doubt those funds have really closed out the shorts and as if the retails know they are bluffing and still pushing the hands

The real players here are other hedge funds. Other hedge funds with cash etc, without short positions or long gme are salivating at the mouth at the thought of pushing price of GME up in to 4 figures.

 

[Butterfly]

And hopefully Robinhood goes under because they’ve been exposed as the exploitive hucksters they are fronting for Citadel.

they were from day 1, how did you expect they paid for all this without charging commissions?

you clueless millennials are so fooking naive and cute with all your free apps

 

[Butterfly]

Seems you touted your Ackman story a handful of times in this thread. How does it take away anything from the WSB manipulation, even if it were true?

According to Ackman, you got the timing of his trading wrong as he made $2.6 billion before going on CNBC. In a letter to his investors, he said:

"By Wednesday, March 18th at 12:30pm, when I appeared on CNBC, we had already sold slightly more than half of the notional amount of our CDS, realizing a gain of more than $1.3 billion, with the unrealized portion of our hedge having a market value at that time of $1.3 billion for a total of $2.6 billion. When my interview with Scott Wapner began, the S&P index was already down 6.5%. (...)

Importantly, our hedge had already paid off prior to my going on CNBC. In fact, we had sold more than half the hedge prior to the show, and the balance over the next three trading days. Our actual realized proceeds of $2.6 billion was equal to the total realized and unrealized profit we had already achieved prior to my going on CNBC. The hedge did not increase in value during or after I went on CNBC. It stayed at approximately the same value until we exited."

and I bet his compliance officer went over all this before he appeared on the show, and that the SEC looked at it when they had their "annual" review, because believe or not, all those asset management firms do get visited by the SEC regularly, and they check everything.

The usual clueless millennials are all going apeshit and talking "conspiracy". If only it was simple, I would love to believe their side of the story.