patrick.net

Patrick says

conspiring to make money on the stock market, even though they are unworthy of such riches.

What Rush is talking about right now.

AMC down ~50% today right now!

If they're only allowing hold or sell, they will drop. I want to see what happens once they re-open buying.

https://www.reuters.com/article/us-retail-trading-shortbets-idUSKBN29X1SW

Losses on short positions in U.S. firms top $70 billion - Ortex data

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.

The hefty losses come as shares of highly-shorted GameStop jumped more than 1,000% in the past week without a clear business reason, forcing short-sellers to buy back into the stock to cover potential losses -- defined as a short-squeeze -- while retail investors then piled in to benefit from the surge.

Chasing shorted companies became a trend among retail traders, rippling across U.S. markets and Europe. Ortex data showed that as of Wednesday, there were loss-making short positions on more than 5,000 U.S. firms.

Its data also showed that estimated losses from shorting GameStop at $1.03 billion year-to-date, while those shorting Bed, Bath & Beyond were looking at a $600 million loss.

Ortex said the figures are based on the change in trading prices between the start of January to Wednesday’s close, and the number of short positions. The company sources short interest data from submissions by agent lenders, prime brokers, and broker-dealers.

NuttBoxer says

If they're only allowing hold or sell, they will drop. I want to see what happens once they re-open buying.

Not getting this one. How can you sell when buying is not allowed? To whom?

Eric Holder says

Not getting this one. How can you sell when buying is not allowed? To whom?

First off, it's only some retail brokerages doing this (RobinHood in particular). Plus no restrictions on hedge funds, of course.

Not allowed to review RobinHood app any more as well.

zzyzzx says

Eric Holder says

Not getting this one. How can you sell when buying is not allowed? To whom?

First off, it's only some retail brokerages doing this (RobinHood in particular). Plus no restrictions on hedge funds, of course.

Gotcha.

I have an acquaintance who works for a hedge fund. Busting his balls over this GME covfefe is going to be fun. =))

The mainstream media is lining up hit pieces on GME. The amount of bad press is going to be enormous.

https://finance.yahoo.com/news/why-game-stop-is-destined-to-become-another-blockbuster-video-221243155.html

Fuck RobinHood:

The person in the above letter should just be thankful that it was not for a negative share price.

More hit pieces:

https://finance.yahoo.com/news/gamestop-staff-making-11-hour-100000500.html

https://finance.yahoo.com/news/will-the-sec-sue-gamestop-traders-183845241.html

This is some crazy shit

zzyzzx says

If true wrt calls from WH that's a second Biden's impeachment right there.

Every move they make exposes their across-the-board corruption to more people.

Force Selling piddling amounts of stock? This doesn't happen in Argentina.

It's not piddling. GME is trading at about $255 per share now. Robinhood ain't gonna disclose what it received as it's take for "order flow". Let's see if they only took $20 per share that's $90k for Robinhood, not bad for allowing "Free Trades". Their Hedge fund buddy was probably ok with taking the trade too. This happened across thousands and thousands of accounts.

As for the Class Action lawsuit. It is meaningless. All Robinhood account holders signed an "Arbitration Agreement":. The court the lawsuit was filed in will simply state that the court has "NO STANDING" to hold a trial.

NoCoupForYou says

Force Selling piddling amounts of stock? This doesn't happen in Argentina.

@NoCoupForYou - are you in Argentina? My cousin is an expat in Buenos Aires. He saw the shit hitting the fan 10 years ago.

Eric Holder says

If true wrt calls from WH that's a second Biden's impeachment right there.

HAHAHA - Biden could murder a baby, drink its blood, and swear allegiance to Lucifer on live television and it wouldn't be grounds for impeachment with this "government".

Stop believing in our "judicial system" - it doesn't exist.

Biden was obviously selling access to his office by having his cokehead son on the BOD of Burisma. There is literally no other possible reason to hire Hunter Biden for that position. Trump was impeached for allegedly demanding that Ukraine investigate corruption within their government as a condition for receiving "aid" - you know, doing his job before handing over a billion dollars to see that the aid was aid and not just a bribe.

Our government is systemically corrupt. I've said it many times, but our government is a criminal syndicate. I say this because our government is obviously a criminal syndicate - nothing more. It's a mafia.

Biden already was caught taking BRIBES, before he was nominated by the DNC. What kind of fucking people do you think run our intelligence agencies, DOJ, "news" media, and leadership of our parties? Al Capone and Whitey Bulger do. There is literally nothing that Biden could do to get him impeached.

richwicks says

HAHAHA - Biden could murder a baby on live television and it wouldn't be grounds for impeachment with this "government".

We'll see in 2 years. If GOP re-captures the House it's gonna be impeachments galore. Biden is owed at least 3, reasons for the first 2 already known.

And, btw, who said anything about impeachment having anything to do with "judicial system"? These are two completely separate things. Impeachment is political and has always been.

Eric Holder says

Not getting this one. How can you sell when buying is not allowed? To whom?

Brokerages aren't being hampered, just citizens.

Robinhood is FORCEABLY CLOSING OUT POSITIONS!!!

Insider posted on the class actions sub saying Sequoia and Whitehouse put pressure on them to stop the trading.

AOC and Ted fucking Cruz agreeing on Twitter.

They close everyone out without consent, market confidence will be SHOT TO FUCK.

We may not need to buy anymore stock, globalists seem to be grabbing the shovels away and digging the graves themselves now.

The hedge fund Point72 has suffered a nearly 15 percent loss amid the GameStop frenzy on Wall Street.
Jan. 27, 2021, 8:23 p.m. ET
3 hours ago
By Kate Kelly

Point72, Steve Cohen’s hedge fund, has an investment in Melvin Capital, which maintained a big bet against GameStop.

As shares of GameStop, the video game retailer, have surged amid a wave of speculative investment by small investors, Point72, the hedge fund run by the Mets owner Steve Cohen, has lost nearly 15 percent this year, according to a person with knowledge of the matter.

GameStop’s sudden rally — the shares jumped 135 percent on Wednesday alone and are up more than 1,700 percent this year — has taken a toll on some large investors who had bet against the stock. The losses at Point72, which manages nearly $19 billion in assets, stem in part from the firm’s investment in Melvin Capital, a hedge fund that had a massive bet against GameStop.

As the shares rose, Melvin was saddled with sudden losses and had to accept $2.75 billion in rescue capital from two outside investors. One of the rescuers was Point72, which already had roughly $1 billion under management with Melvin, said two people with knowledge of the relationship, and added $750 million to help stabilize Melvin this week.

Just wait until Rin's hedge fund buys naked shorts of the Real Doll stocks.

Ceffer says

Just wait until Rin's hedge fund buys naked shorts of the Real Doll stocks.

Veritas will have a new Whistleblower, that's for sure!

Ceffer says

Just wait until Rin's hedge fund buys naked shorts of the Real Doll stocks.

I've been wondering if we can somehow direct him to this thread..

https://amp.dailycaller.com/2021/01/28/janet-yellen-gamestop-citadel

Janet Yellen Received $810K In Speaking Fees From Hedge Fund Embroiled In GameStop Saga

Booger says

Ceffer says

Just wait until Rin's hedge fund buys naked shorts of the Real Doll stocks.

I've been wondering if we can somehow direct him to this thread..

hey @Rin - @Booger wants you to look at this thread.