Robinhood restricts trading in GameStop, other names involved in frenzy

[MJHolland 12,725]

1 hour ago, Morphine Prince said:

 

I mean, listen...

It's lame that Robinhood did this, but the news story has become so large that everybody right now would be trying to buy GameStop stock... which if you're an average joe would be a BAD IDEA anyways 

Robinhood is still allowing customers to close their positions freely on GameStop, etc. So it's really not affecting Redditors that much...

What it's stopping is new, average (read "uninformed") buyers from trying to get in on a get-rich-quick scheme that wouldn't pan out for them well to begin with, so I'm low key not furious about this 

Because regardless, the Redditors are still going to make serious $$$ when this is over 

[Guest]

5 hours ago, JusKeepBreathin said:

This is kinda crazy. There was no real reason for gamestop to shoot up like that. It was selling for more than Apple at one point. 

There is a real reason though. Everyone at r/WallStreetBets were upset that shorts were shorting GME over 100% which should be illegal so everyone decided to buy (including me) & we’re gonna hold out till it hits $1000 per share. Glad I didn’t go to Robinhood though, not sure why anyone would in general when they’ve been sued by the SEC & aren’t that legitimate. I guess this just proves that point though 😂

[Guest]

4 minutes ago, MJHolland said:

I mean, listen...

It's lame that Robinhood did this, but the news story has become so large that everybody right now would be trying to buy GameStop stock... which if you're an average joe would be a BAD IDEA anyways 

Robinhood is still allowing customers to close their positions freely on GameStop, etc. So it's really not affecting Redditors that much...

What it's stopping is new, average (read "uninformed") buyers from trying to get in on a get-rich-quick scheme that wouldn't pan out for them well to begin with, so I'm low key not furious about this 

Because regardless, the Redditors are still going to make serious $$$ when this is over 

It isn’t a get rich quick scheme... it’s the average joe who’s investing right now & has been for months. Every redditor I know have seen this coming. I bought shares in October so the fact that people are trying to make this seem like a scam is sad. It’s the shorts who are in the wrong. Shorting that much should be illegal. Also most people I talk to from WSB don’t use robin hood for various reasons, this being the nail in the coffin.

[Guest]

1 hour ago, JusKeepBreathin said:

Robinhood gives out a free stock by joining it's service through invite. That's how many people got the gamestop stock. Why do you think Robinhood is even mentioned here? 

Um no, that’s not how many people got GameStop stock. Most of us bought shares months ago. I got mine in October but those who use Robinhood are pissed about this because Robinhood is only restricting us & not hedge funds or brokerage firms. It’s actual market manipulation & they’re doing it because the hedge funds are what keep them in business. Come to think of it, GME isn’t even part of the list of stocks that robinhood was giving away for free.

[MJHolland 12,725]

6 minutes ago, lestyoufall said:

It isn’t a get rich quick scheme... it’s the average joe who’s investing right now & has been for months. Every redditor I know have seen this coming. I bought shares in October so the fact that people are trying to make this seem like a scam is sad. It’s the shorts who are in the wrong. Shorting that much should be illegal. Also most people I talk to from WSB don’t use robin hood for various reasons, this being the nail in the coffin.

No no I didn't mean that it is a get rich quick scheme, I'm saying that the average retail buyer could think that. 

If you're on WSB, I don't classify you as an average buyer. There are some hella smart traders in there (including Elon Musk now...???) who provide a sh*t ton of free advice (e.g. buying GameStop in October lol). 

Robinhood is trying to stop average people from running the demand up more bc this story is huge and average people would overspeculate the stock even more (which I'm sure you'd love haha). It's still kinda sh*tty but still not that sh*tty, you know? 

10 minutes ago, lestyoufall said:

There is a real reason though. Everyone at r/WallStreetBets were upset that shorts were shorting GME over 100% which should be illegal so everyone decided to buy (including me) & we’re gonna hold out till it hits $1000 per share. Glad I didn’t go to Robinhood though, not sure why anyone would in general when they’ve been sued by the SEC & aren’t that legitimate. I guess this just proves that point though 😂

Yeah lol ignore that user, they don't really know what is going on and is saying some whack sh!t rn...

Btw, they think you're just as bad as the capitol insurrectionists LMAO 

Best of luck to you, though!

[MJHolland 12,725]

5 hours ago, JusKeepBreathin said:

Wrong. Strong earnings made Tesla go up. Gurl..I...

There is no point...

Uhhhhh LMAO what 

Sister are you GOOD 

[Guest]

Just now, MJHolland said:

No no I didn't mean that it is a get rich quick scheme, I'm saying that the average retail buyer could think that. 

If you're on WSB, I don't classify you as an average buyer. There are some hella smart traders in there (including Elon Musk now...???) who provide a sh*t ton of free advice (e.g. buying GameStop in October lol). 

Robinhood is trying to stop average people from running the demand up more bc this story is huge and average people would overspeculate the stock even more (which I'm sure you'd love haha). It's still kinda sh*tty but still not that sh*tty, you know? 

Yeah lol ignore that user, they don't really know what is going on and is saying some whack sh!t rn...

Btw, they think you're just as bad as the capitol insurrectionists LMAO 

OHHHH my bad lol I’m just so used to having to defend what’s happening from people that are trying to paint the little guy as the bad ones. Yeah I agree that people could think it’s a get rich quick scheme which is why how this situation is framed is so important. I’ve even seen verified people saying that we “hacked” Wall Street... it’s just ridiculous. Hopefully this teaches Wall Street a lesson while also filling the little guys’ pockets.

[JusKeepBreathin 19,311]

1 minute ago, MJHolland said:

Uhhhhh LMAO what 

Sister are you GOOD 

Gurl... Don't talk behind my back then quote me with emojis. It's stupid. 

[MJHolland 12,725]

Just now, JusKeepBreathin said:

Gurl... Don't talk behind my back then quote me with emojis. It's stupid. 

This is a public forum and I replied right under the post you got tagged lol that's not "behind your back" hehe 

But I'll say it again now — I respectfully think that you genuinely don't know what's going on in the stock market  I have a wonderful subreddit to recommend if you want to start learning about trading tho  (jkjk)

[JusKeepBreathin 19,311]

2 minutes ago, MJHolland said:

This is a public forum and I replied right under the post you got tagged lol that's not "behind your back" hehe 

But I'll say it again now — I respectfully think that you genuinely don't know what's going on in the stock market  I have a wonderful subreddit to recommend if you want to start learning about trading tho  (jkjk)

Ok...there is enough cash in the bank to prove different. Good day. 

[Guest]

5 hours ago, JusKeepBreathin said:

Tesla has reported hitting it's profit goals everytime for a year. Stock goes up. Today Tesla missed it's goal stock went down. Go figure.

That's how stocks work. Unless there is market manipulation or insider trading. 

I think it’s pretty clear that that’s not the only way the stock market works as evidenced by GME & others like Blackberry & saying that it’s “mAnIpUlAtIoN” if stocks go up any other way is a complete lie. Profit is not the only thing that affects the market. Natural disasters, bad PR, scandals, newly released products, this all affects stock price among other things like shorting which is what caused this situation.

[Economy 52,860]

28 minutes ago, MJHolland said:

How? The gamestop thing is really only impacting 2 hedge funds (one main one) who will have to close on their position sooner or later and return the system to normal?? 

Alright fair enough. I wasnt aware it was only 2 in this case

 

I just know a lot of amateur investors are the ones that often get caught up in wild trends and either invest in stocks directly or ETFs in a sector that is booming but they get into it late when the trend is already well underway and tend to buy at the top and loose everything

 

I invest but one thing i never do is get caught up in trends or hype. They are almost never based on fundamentals and usully dont end well

 

Best look at value and companies with good prospects. Thats actual investing. Ppl who wanna get rich quickly with bets are more like gamblers not investors

[Guest]

1 minute ago, Economy said:

Alright fair enough. I wasnt aware it was only 2 in this case

 

I just know a lot of amateur investors are the ones that often get caught up in wild trends and either invest in stocks directly or ETFs in a sector that is booming but they get into it late when the trend is already well underway and tend to buy at the top and loose everything

 

I invest but one thing i never do is get caught up in trends or hype. They are almost never based on fundamentals and usully dont end well

 

Best look at value and companies with good prospects. Thats actual investing. Ppl who wanna get rich quickly with bets are more like gamblers not investors

In any other instance I’d agree 100% but this isn’t just a trend that happened over night. GME has been talked about for months on r/WallStreetBets & there’s actual reasoning behind this boom. There’s also an argument to be made on the business side of things. GME isn’t just some hopeless stock that has no perspectives. Granted people are jumping on board late in the game but if we keep holding (I am) to reach at least $1000 then not only will most of us stand to make money but we stand to make an actual point. That shorts need to be regulated, Wall Street shouldn’t be bailed out 24/7, & that the average person does make a difference. It’s much deeper than wanting to make a quick buck, at least for me & the people I talk to.

[MJHolland 12,725]

45 minutes ago, Economy said:

Alright fair enough. I wasnt aware it was only 2 in this case

 

I just know a lot of amateur investors are the ones that often get caught up in wild trends and either invest in stocks directly or ETFs in a sector that is booming but they get into it late when the trend is already well underway and tend to buy at the top and loose everything

 

I invest but one thing i never do is get caught up in trends or hype. They are almost never based on fundamentals and usully dont end well

 

Best look at value and companies with good prospects. Thats actual investing. Ppl who wanna get rich quickly with bets are more like gamblers not investors

Yeah I'll just echo what lestyou fall said which is that this isn't really hype or trend based 

This is exploiting a busted "financial innovation" that wall street tycoons invented to make profits off of others losses -- contributing quite literally to nothing other than their/their boss's bank account 

53 minutes ago, JusKeepBreathin said:

Ok...there is enough cash in the bank to prove different. Good day. 

Hehe okay whatever you say 

I'll just note than Tesla has only ever had 6 quarters of profits, and the most recent one fell well below expectations. That company notoriously loses money year in and year out, but is somehow the most valuable car company in the world bc of the NYSE... Elon Musk even admits to manipulating the stock prices with his Tweets which is why he's in hella hot water with the SEC 

The way you cited that company specifically as an example of how stocks should work tell us all that we need to know about your trading knowledge, unless you wanna post your brokerage receipts  

[Economy 52,860]

1 hour ago, MJHolland said:

Yeah I'll just echo what lestyou fall said which is that this isn't really hype or trend based 

This is exploiting a busted "financial innovation" that wall street tycoons invented to make profits off of others losses -- contributing quite literally to nothing other than their/their boss's bank account 

Hehe okay whatever you say 

I'll just note than Tesla has only ever had 6 quarters of profits, and the most recent one fell well below expectations. That company notoriously loses money year in and year out, but is somehow the most valuable car company in the world bc of the NYSE... Elon Musk even admits to manipulating the stock prices with his Tweets which is why he's in hella hot water with the SEC 

The way you cited that company specifically as an example of how stocks should work tell us all that we need to know about your trading knowledge, unless you wanna post your brokerage receipts  

Well to be fair that doesnt mean anything. A company can grow in value without making a profit as long as their assets grow along with their debt

 

Keep in mind that debt is used to fuel investments in growth. Machinery, buildings, actual growth. Its not just debt accumulating

 

If they have a profit before you include expansionairy expansion that adds to its assets, a company can grow in value even tho on paper it never had a profit in terms of actual cashflow

 

For example you make $1000 profit... you spend $1200 in expansion

 

Your assets grew $1200 but debt only grew $200... your company is still successful and doing well even tho on paper all u ever see is red inc