CNN Declares that the Gamestop stock surge is Trump's fault

They're probably just speculative day traders mostly moving the price. I didn't read the article but they can jack up or jack down a stock price quickly. Or it could be a hedge fund or a private equity firm. I don't know... my apologies if someone has already said that because I did not read all of the posts in this thread. Originally Posted by Lucas McCain

I gave you a rundown once already, Mr. McCain.

Hedge Funds were shorting Gamestop's stock. Reddit noticed the pattern and 6 million people suddenly jumped on the stock, buying it up, causing the price to reach exit velocity. Now the hedge funs, who were trying to short it for free money have a $70B tab to pay.

I don't know which hedge funds were involved in this, but all I know is that the ones I have worked for would have laughed me out of the building and fired me if I decided to gamble like that with margins. There is no way in hell the Board of Directors would have approved that. They would have told me to take my ass to Vegas to gamble my own money, but you can't gamble the shareholders' money like that because of both liability and liquidity concerns.

That's not right. See post #35 above. RobinHood doesn't allow shorting. Thus they could not have a problem with shorts on margin.

What I got out of one of his interviews was that they had to increase their "reserves" because their business grew rapidly in a short period of time. Trading increased a lot. The value of shares held by their customers increased and the number of customers increased. They have to keep reserves or deposits with their clearing firms. It's just like a bank, when a bank grows it has to increase its capital.

Your theory about the other brokers is wrong too, although, strangely, your conclusion is correct. Other brokers shut off short selling and writing naked calls in GameStop before they shut off buying. In other words, they shut down the shorts first.

Customers who were short or long were allowed to liquidate positions. If you were short you were allowed to buy shares to cover. If you were long you were allowed to sell your shares. What you did get right is that this had the effect of reducing the brokers' risk, liability, and deposits they needed to keep on hand with clearing firms.

Btw, shutting off buying helped the shorts, it didn't hurt it. When rumors leaked that RobinHood had shut off buying there was a huge decline in the share price. Originally Posted by Tiny

Well at least I was right, lol.

https://www.barrons.com/articles/how...re-51611961782


I own fizz can't relate to game stop plus don't turn a profit so haven't invested in them

I don't know which hedge funds were involved in this, but all I know is that the ones I have worked for would have laughed me out of the building and fired me if I decided to gamble like that with margins. There is no way in hell the Board of Directors would have approved that. They would have told me to take my ass to Vegas to gamble my own money, but you can't gamble the shareholders' money like that because of both liability and liquidity concerns. Originally Posted by Lucas McCain

this is how hedge funds operate. they go big or go home with tail between their legs.


you're not in a hedge fund, for one thing, its a different culture, kind of like the pirate culture.


if you ever watched wolf of wall st. movie, you'd get the idea.

Dude, I've worked for hedge funds and in private equity. It is what I know. Have you Dilbert? I don't need to watch a bullshit fictional movie with Leonardo DeCrappyio in it to tell me how they operate because I already know. Do you know? These were shitty and rogue hedge funds. A legitimate one would never take that gamble on shorting a video game company in such a fickle industry on margins. Or at least none of the firms I've worked for ever would, but I don't work for bullshit firms.

I don't know which hedge funds were involved in this, but all I know is that the ones I have worked for would have laughed me out of the building and fired me if I decided to gamble like that with margins. There is no way in hell the Board of Directors would have approved that. They would have told me to take my ass to Vegas to gamble my own money, but you can't gamble the shareholders' money like that because of both liability and liquidity concerns. Originally Posted by Lucas McCain

The CEO for the no commission on trades brokerage firm "Robinhood" was on CNN with Chris Cuomo. Basically, he was saying he had to put a stop on buying Gamestop because he had a liquidity problem. The Dodd/Frank financial reform bill is still on the books. You have to have money in the bank to cover your losses. You can't do like AIG did in 2007 and make bets and not be able to cover the claims for insurance policies that you have inforce at the time.

Cillizza is completely full of shit. I'd wager 80% of the participants in the Wall Street Bets forum on Reddit, who have been shilling for GameStop, are millenial Democrats.
Originally Posted by Tiny

maybe not as full of shit as you think.
Who were the Occupy Wallstreet crowd?

Who did they back? Bernie , then Trump....not Clinton.

I think if you listen again to the thesis of the article...they aren't as far off as you declare.

Strict voter photo ID laws

Closing of DMV’s in strict voter ID law states

Failure to accept government-issued state university and college student ID’s

No early voting

Early voting cuts

No Sunday Souls to the Polls Early Voting

Harsh requirements/punishments for voter registration groups

Tough Deputy Registrar Requirements

Harsh voter registration compliance deadlines

Failure to timely process voter registrations

Cuts to Election Day (Same Day) registration

Polling place reductions or consolidations

Polling place relocations

Inadequate or poorly trained staffing at polls

Inadequate number of functioning machines, optical scanners, or electronic polling books

Running out of ballots at polling sites

No paper ballots

Failure to accept Native American tribal IDs.

Barring Native American voters through residential address requirements for Native American lands which have PO Boxes

Failure to place polling sites on Native American lands

Refusal to place polling sites on college campuses

Lack of available public transportation to polling sites

Excessive Voter purging

Disparate racial treatment at polling sites

Student voting restrictions

Residency

Ex-felon disenfranchisement laws

Requiring Payment of Fines or Fees As Condition of Vote Restoration

Failure to Inform Formerly Incarcerated Persons of Their Voting Rights or Eligibility to Vote

Excessive Use of Inactive voter lists

No Public Outreach or Notification to Voters Placed on Inactive Lists

Language discrimination

• Failure to accommodate

Lack of language-accessible materials

Failure to accommodate voters with disabilities

No disability accessibility

No Curbside Voting

Not enough disability accessible voting equipment

37. Barriers to assistance by family members or others for voters

38. Deceptive practices

• Flyers

• Robocalls

39. Voter intimidation

• Impersonating law enforcement personnel or immigration officers

40. Police at polling places

41. Racial gerrymandering

42. Creating polling place confusion by splitting Black precincts

43. Partisan gerrymandering

44. Barriers for homeless voters to voter registration

45. Voter caging

• Use of One-Time Post cards/Mailers

46. Voter challengers at polls

47. Voter challenges to voter registration lists

48. Use of Suspense lists

49. Absentee Ballot Short Return Deadlines

50. Exact match requirements for signatures or other information

51. Complicated Absentee Ballot Requirements

52. Proof of Citizenship Laws

513 Out-of-precinct = no vote counted requirements

54. Failure to pre-register 17 year olds

55. Restrictions on straight-party voting

56. Interstate voter registration Crosscheck system

57. Jailed persons’ preconviction: denied right to register and/or vote

58. DOJ demanding voter records

59. Employers not providing time off or enough time

60. Failure to assist or accommodate voters displaced by natural disasters

61. Long lines

A legitimate one would never take that gamble. Originally Posted by Lucas McCain

Melvin Capital was shorting Game Stop Citadel and Point 72 gave them 2.75 billion to unwind their position. All three are top rated companies by Bloomberg. Over 1.6 million options contracts were traded on some days for $150 that's 240 million dollars. No way retail investors have that much money to spend.This was Hedge Fund vs Hedge Fund.

I understand that shorts inject liquidity into the markets and that can be a good thing.

What I don't understand is why the hedge funds or anyone else can short MORE shares than actually exist. I think I read that the number of shorted shares is 140% of $GME's total shares. Can that be true?

The situation makes it practically impossible for the short seller to find shares to buy back, which drives the price even higher.

Why aren't shorts capped at 25% or 50% of all of a company's shares? You would get at least some of the benefits of liquidity without having these insane short squeezes. Originally Posted by Kinkster90210

That would be a good rule - limiting it to 50% of the float.

Strict voter photo ID laws

Closing of DMV’s in strict voter ID law states

Failure to accept government-issued state university and college student ID’s

No early voting

Early voting cuts

No Sunday Souls to the Polls Early Voting

Harsh requirements/punishments for voter registration groups

Tough Deputy Registrar Requirements

Harsh voter registration compliance deadlines

Failure to timely process voter registrations

Cuts to Election Day (Same Day) registration

Polling place reductions or consolidations

Polling place relocations

Inadequate or poorly trained staffing at polls

Inadequate number of functioning machines, optical scanners, or electronic polling books

Running out of ballots at polling sites

No paper ballots

Failure to accept Native American tribal IDs.

Barring Native American voters through residential address requirements for Native American lands which have PO Boxes

Failure to place polling sites on Native American lands

Refusal to place polling sites on college campuses

Lack of available public transportation to polling sites

Excessive Voter purging

Disparate racial treatment at polling sites

Student voting restrictions

Residency

Ex-felon disenfranchisement laws

Requiring Payment of Fines or Fees As Condition of Vote Restoration

Failure to Inform Formerly Incarcerated Persons of Their Voting Rights or Eligibility to Vote

Excessive Use of Inactive voter lists

No Public Outreach or Notification to Voters Placed on Inactive Lists

Language discrimination

• Failure to accommodate

Lack of language-accessible materials

Failure to accommodate voters with disabilities

No disability accessibility

No Curbside Voting

Not enough disability accessible voting equipment

37. Barriers to assistance by family members or others for voters

38. Deceptive practices

• Flyers

• Robocalls

39. Voter intimidation

• Impersonating law enforcement personnel or immigration officers

40. Police at polling places

41. Racial gerrymandering

42. Creating polling place confusion by splitting Black precincts

43. Partisan gerrymandering

44. Barriers for homeless voters to voter registration

45. Voter caging

• Use of One-Time Post cards/Mailers

46. Voter challengers at polls

47. Voter challenges to voter registration lists

48. Use of Suspense lists

49. Absentee Ballot Short Return Deadlines

50. Exact match requirements for signatures or other information

51. Complicated Absentee Ballot Requirements

52. Proof of Citizenship Laws

513 Out-of-precinct = no vote counted requirements

54. Failure to pre-register 17 year olds

55. Restrictions on straight-party voting

56. Interstate voter registration Crosscheck system

57. Jailed persons’ preconviction: denied right to register and/or vote

58. DOJ demanding voter records

59. Employers not providing time off or enough time

60. Failure to assist or accommodate voters displaced by natural disasters

61. Long lines Originally Posted by WTF

Yes, requiring residency and proof of citizenship to vote is an onerous burden and very discriminatory.

Ironically, it is done in virtually every country in the world.

wtf will be happy that fiden is opening teh borders, teh vote, and taxpayer payments for free stuff for life to all teh illegals , gangs, traffickers, criminals, and disease -ridden - that fiden and the DPST/ccp marxists beleive deserve to be supported by taxpayers in America.

Putting two masks on teh illegal caravans of ultimately - hundreds of thousands of new welfare recipients - will not at all affect the new entries who are wuhan virus infected, the carriers of measles, mumps, typhoid, diphtheria, and many other infectious disease almost eradicated by vaccination in America - now vulnerable due to the Anti-Vaxxer idiots.

Who will get their just desserts when tens of thousands die of these now ignored diseases brought in by fiden's 'open borders'!




See how that turns out -wtf - it is written"One cannot have a welfare state , and Open Borders at the same time"!
'Libertarian" - perhaps - much more c/w the marxist DPSR/ccp destructive agenda for America.




And how many 'Libertarians will die of imported diseases by fiden's invitatioin to a free life of taxpayer support and open borders to mexico, Central and South America???
Ultimately - Hundreds of thousands - perhaps millions will die.

And when the majority of deaths are Caucasians - the DPST/ccp nomenklatura, minions, acolytes, and their pet terrorists Antfa and OBLM will celebrate!

Yes, requiring residency and proof of citizenship to vote is an onerous burden and very discriminatory.

Ironically, it is done in virtually every country in the world. Originally Posted by I Love Freedom

Ha fucking ha.

Either you can't read or understood wtf is written.

This last election had more voters and less fraud than ever before.

wtf will be happy that fiden is opening teh borders Originally Posted by oeb11

WTF will be happy when you stfu with your lies about wtf WTF will be happy about