2021 Dow

[Trub Lou]

I'm shocked. Lol. Who would have thought that basing financial decisions on a reddit prank wouldn't be fundamentally robust?

[Mexas Joe]

So errybody that wants to make some money off The Man is a Nazi.

It's all so predictable and tiresome.

[Augie91]

Apparently, American Airlines is now on board.  They were discussing on finance program this a.m. how in an effort to cover their losses, these shorts will be forced to sell other liquid positions, that will effect the entire market potentially.  They mentioned how this would make for a good movie or book in the future.

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"About 44 circuit breaker halts were triggered in the first two hours of trading on Wednesday as volatility reigned"

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"Prior to the stock rally, the short-interest ratio on GameStop hit 260% at the end of last year. With a short-interest ratio well over 100%, many of the shorts were “naked,” meaning that they sold stock that they were not able to borrow, an especially precarious position."

https://www.morningstar.com/articles/101...rt-squeeze

[dave]

Apparently, American Airlines is now on board.  

Excellent, I have 300 shares of that one and it's up about 30% pre-market 

[Mexas Joe]

Trading apps showing they take orders from the Man.

There is no free market.
Elections are rigged.
There is no Free Speech.

People are paying attention.

[Augie91]

Apparently, American Airlines is now on board.  

Excellent, I have 300 shares of that one and it's up about 30% pre-market 

Get ready to make some $$$!!  I remember you buying that and I'm VERY GLAD all this craziness is working out for you!  Can't wait to see how rich it makes you!!!

[dave]

I got in the second time ( made $$ the first run) this summer @ 15.37 so even when it was up 30% this morning it wasn't big bux... but, I'm up 18% at the moment from purchase so that's fine with me although it isn't one of my biggest winners.

[Augie91]

Robinhood has added new limits to its app to restrict users from buying or trading any of the popular Reddit r/WallStreetBets stocks, including GameStop ($GME), AMC ($AMC), BlackBerry ($BB), Bed Bath & Beyond ($BBBY), Nokia ($NOK), and more. Users will still be allowed to close out existing positions but won’t be able to buy more of the stocks. The company is citing “recent volatility” in the market as the reasoning behind the change.

I wonder if Robinhood is having difficulty with the volatility, or if they are afraid of losing money, and/or resources, or getting sued?!

[Mexas Joe]

Joe Biden’s new Treasury Secretary Janet Yellen has made over $7 million from speaking at Wall Street firms including #Citadel – an investor in Melvin Capital, which got run over by Wall Street Bets. Citadel is also #Robinhood's biggest customer.

It's no wonder why Wall Street was/is so Team Biden. It's all rigged.

[Augie91]

Normal everyday folks sticking it to the Man! We can't have that! Time to shut down Robinhood, just like Parler etc.

It will be interesting to see who started all this going, and whom gets left holding the bag.

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Nasdaq CEO Adena Friedman told CNBC Wednesday that the exchange monitors social media chatter, and will halt trading if they match the chatter with unusual activity in a stock.

Friedman said the Nasdaq's role as a "self-regulatory organization" is to make sure activity in the market is "legitimate" and to root out manipulation in the market. She did not detail what kind of technology the Nasdaq uses to "evaluate social media chatter," but she said if the Nasdaq can match unusual trading with social media activity, the exchange will halt the stock and potentially engage with the SEC to evaluate and investigate.

LONDON (Reuters) - Short-sellers are sitting on estimated losses of $70.87 billion from their short positions in U.S. companies so far this year, data from financial data analytics firm Ortex showed on Thursday.

https://www.reuters.com/article/us-retai...9X1SW?il=0

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Now that GME has been blocked from being bought by Schwab, Robinhood, and TD Ameritrade it is down $100 (30%).