Wall Street gambling community goes private after poking rich people too much

1  2021-01-22 by fentanyl_peyotl

The backstory is basically that the Wall Street Bets community began pumping a specific stock, GameStop, with the explicit goal of setting off a chain reaction by costing rich people money (google “short squeeze” for details). This gets the sub in the news and professional rich people began sperging out.

A couple days ago the WSB mods created a twitter where they post im14andthisisdeep-tier nonsense about taking over the economy.

About an hour ago a guy posts about how rich people are gunning to get the sub banned, and that this Twitter account has given the SEC an excuse to claim manipulation.

Within thirty minutes the sub is private claiming the SEC is looking at them. The WSBmod Twitter has gone private.

rip

45 comments

If those beautiful autists can crash the market so be it. The stock market is rarted anyway

crash? motherfucker it's mooning

the stock market is rarted

How does it feel to be poor?

I N T R I N S I C

I love watching WSB people pretend like they’re making money

I mean I haven't made stupid money but you should be 401k maxxing and investing anyway.

Like once you save paycheck *10 or so it makes no sense to stick that cash in a savings account

I love watching WSB people act like they're financial advisors

haha my guy I'm regurgitating what my 401k advisor tells me. You should try white collar employment, not only do you get % match (it's literally free money!) but you get a finance lackey to give your presentations. Plus none of this shit is rocket science, you can google all the above

My guy.... I have multiple FINRA licenses and work for one of the largest banks in the country. My employment is about as white collar as it gets

well then you know everything I'm saying is true? not quite sure what you're on about

The point is why the fuck are you even saying that stuff here. Nobody cares about your kindergarten tier advice on 401ks or savings plans

Yeah smart guy... You tell me the easiest path to snorting yao off of just legal rentboys if not pilling money into short term way out of the money contracts

I love when WSB people act like they're making money

Awww, are your jimmies rustled sweaty? Show me on the doll where the internet stock trading forum hurt you. Got a case of the big mad, were you shorting Gamestop by chance?

Plus to answer your question, I'm 'saying this stuff here' because you fucking commented about it you absolute dingus.

more irrelevant screeching noises

You fisher price “traders” are the reason why my bonus is so big every year. Keep shoveling your money into the 🔥... meme traders were a godsend for the big boys

fisher price “traders”

We have a winner! Ding ding ding you sir won the BIG MAD prize today, congrats :) and thanks for the s33the my dude

I love watching WSB people giggle at their own overuse of played out lingo

He's not wrong, you should be investing your retirement savings. Trying to manage your own investments is pretty dumb tho; most retail investors underperform compared to whatever given index you use. Best to just stick your savings in some index funds or use a good robo-advisor or something and forget about it until you're old or the revolution comes and outlaws the stock market

mooning

You're not in your clubhouse, explain what information you were trying to convey or speak english.

how does it feel to be poor?

Idk. Ask me again in a couple of years when the market inevitably crashes like '08.

going to moon = good

If you held through the crash in 08 then you would have seen all of your money recover and then some in the 2010s, the key is to not get super irrational and start dumping as well as not investing your life savings in the stock market when looking to retire within a few years

r*tards continue to dump money into the stock market, causing it to continue climbing

maybe not any time soon, but one day in the future, the supply of tard money will run out. that will truly be a day to hold dramacoin

the supply of tard money will run out

World economics entirely rests on this not happening; we'd be fucked either way if it did

this is true, but i wish we'd pay literally any attention to figuring out when the tard money might run out

Ghey

GUH

GEE

Ah I've made a good amount of money off of Gamestop so far

FML I just looked at its chart. I dumped mine a few months ago as soon as WSB started going gaga over it.

wsb is an example of the beauty of autism. I saw last night something about this but blew it off as more autismo events and I shoulda read more.

I'm not a finance guy but that does sounds illegal

Eh. Finance-cel with my Series 7, 66, 9, 10. Not an expert in the law but I’ve seen a thing or two. 9 and 10 are supervisory licenses.

So the only tangible thing I can think of is “acting in concert”. Basically unrelated or seemingly unrelated parties work for the same goal. Usually applies toward takeovers but it can apply to gains I guess depending on how frisky the alphabet bois at the SEC are feeling.

Even then I think it’s only illegal for registered people to act in concert to keep the price of a stock high. Doesn’t apply to non registered people.

That said I also can’t see how there could possibly be a case for it given the nature of Reddit and how it works. Like it’s a stretch to begin with even, but considering how 90% of WSB is loss or gain porn and tendies I just don’t see anything happening unless it comes from the Chadmins to keep shit off their back. Which would be glorious for dramacoin.

Even then i don’t think it’s some grand conspiracy to push the stock higher, people in there are simply buying the stock because they think they’ll make money on it. The same thing has happened with numerous other meme stocks

I mean it’s no different that people listening to Cramer saying buy ABC it’s going to go up. More people buy and then it does in fact go up. It’s just a different medium. Message board vs TV. Like I said I don’t see how this could apply. But again that’s just from someone in a compliance related role in the industry, not a legal role so who knows.

100% very legal

There is no manipulation. It would be the equivalent of someone getting a bunch of people together. Presenting a stock they should invest in then all those people doing that. That is not manipulation at all.

Seeing redditors discuss it is like listening to your college age brother explain all the virtues of bitcoin. Everyday redditors think anything that nets money is illegal, specially if an article says so.

This drama is so juicy though. OP i wish you had included more! There are these firms called short sellers one in particular Citron claimed they had research to tank the stock GME. And it would be livestreamed

https://twitter.com/CitronResearch/status/1351544479547760642

Stock should fall back to 20 or 10 or whatever according to these dipshits.

Initally they were going to release this on inauguration day, but then claimed out of respect for the inaugration they would not, and that it was 'historical'. Whatever the fuck that means. That just screams pussy ass shit. Tweet:

https://i.redd.it/wvvbo059iic61.jpg

I think they deleted this.

Anyways yesterday they encounter 'technical difficulties'. Yo multi million dollar firm and they encounter 'technical difficulties' Anyway this guy live streams from his phone his 5 reasons why GME is going to tank

https://www.youtube.com/watch?v=mEi2axM4hwI&feature=youtu.be

Watch the vid and ask yourself does this guy seem confident in his conviction? Is he smug? Some of the shit he says is fucking stupid for a 'business man'. As a short seller he wants the stock to go down, so one of things he recommends is GME issue more shares (which ironically would help him) to pay of debt. Why the fuck is a short seller giving mgmt advice? They want the share to tank right? Anyway lot of ah's and um's which just make this video sound like aids.

Now I do want to address 'manipulation' but also character assassination. This firm that short sells stocks, wants stocks to tank. They release their reports to the public for free. Sometimes they claim it is in the name of ‘Activism’, but in reality they do it when the Share is very high. Making a nice little profit for themselves at the expense of working stiffs like me. This particular firm has an extremely poor record. Example NIO. I bought Nio shares at about $6. I just sold 814 and made a nice little profit. According to these dipshits at Citron NIO should have tanked. One of the reasons Tesla is as high as it is is because of these short sellers. The stock did not tank and so they had to buy the stock My NIO moves

https://imgur.com/a/VFryR9L

I am still in NIO. I still believe in the company, but I wanted to diversify. And GME looks good so I purchased some GME shares too.

https://imgur.com/a/WZ3O6Hr

In the end both these companies could tank. They are business that is a business risk and it is one that I take on. The only one ‘manipulating’ anything here is citron. As well as the main stream media. Look at buffet. What does he say about the news? When Tesla came out there were ‘news; outlets that actually tried to make hit pieces on tesla using their vehicles. Same thing with Amazon, just watch bezos’s old interviews. The point is take the news with a grain of salt. They are their to sell you something which might not necessarily be good. Example Bernie Bad Hillary Great!

Now. Character Assassination. Making accusations of manipulation or whatever, or harassment often is done in bad faith. This is a tactic people use. Make accusations, no evidence hoping others face repercussions. The media also plays a role in this. Look at how they treat Bernie. Look at China, they condemn them for the way the treat Uighur Muslims (which is BS), yet they stay silent on the Rohingy Genocide, or the treatment of Yemen Muslims by their ally Saudia Arabia.

My two cents my fellow dramanauts.

Edit: my dipshit spelling sorry guy's and gal's

yo make your own thread this is way more interesting than I thought

will do

dude I'm telling you it's worth taking the plunge

Yeah, I wish I’d included more in hindsight, but I wasn’t sure how much I could talk about short squeezes and hedge funds before peoples’ eyes started glazing over.

Definitely feel free to make your own thread on all that. I’d do it myself but I’m going to be gone most of the day.

I did bro based on a fellow recommendation. TBH I know very little compared to others but enough to mess around.

Isn't Burry still holding like 30% of available float of gamestop? That alone would buoy pricing far more than a million small fish pilling in

I'm pretty new to this man. Regardless you see the price jump? People will move in on that. Either way I bought to hold

Should not have broadcast it to twitter.

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