this post was submitted on 21 Feb 2024
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chapotraphouse
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Their loyal users are the marks. Watch the rug get immediately pulled.
It won't be immediately. This is going to be a pump and dump, but I guarantee you there's going to be a set of first wave investors who watch the stock price go vertical for a few weeks at least.
Also, non-zero chance we get the kind of blatant stockmarket manipulation that gave us Tesla, Gamestop, and Best Buy short squeezes.
Prediction: Consent will be manufactured on Reddit for these marks to HODL until they’re left HODLing the bag.
The manipulation was stopping the GameStop short squeeze, not causing it. Robin Hood turned off the ability for users to buy the stock, but kept the ability to sell it, something they had never done before or after. They have heavy investments with the Hedge Funds that were losing big on the squeeze, so they stepped in illegally to stem the bleeding. The squeeze was organic, stopping the squeeze was manipulation.
There was manipulation on both ends. But the initial squeeze was a very deliberately orchestrated attempt by a few major holding firms - Fidelity, Blackrock, and Vanguard most notably - to inflate a bubble and organize a graceful exit from their long GME position.
Because their parent company, Citadel, realized these other firms were fucking them with their own app.
But by then most of the damage had been done and the major stock holders had re-positioned themselves. A bunch of retail investors got caught with some of the bag, but they were incidental in the clash of industry titans.
Anyone who points to a shift on the order of several hundred million dollars in a matter of days and says "Organic" is a sucker.
It’s hilarious how wrong all your takes are across the board. You are repeating the narrative of wall street executives and the WSJ. Are you a child?
Enjoy your time in the casino.
I don’t invest or gamble whatsoever. You are just confidentially factually incorrect quite often and it’s annoying
Right back at you dude, don’t you have any more dogshit takes on ASoIaF to confidently spout despite never having read the books? This is how you are on every subject
b-az-ingo