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Forum » How Reddit Brought A Multi-Billion Dollar Hedge Fund To It's Knees
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Thread: How Reddit Brought A Multi-Billion Dollar Hedge Fund To It's Knees

post 1629830933 01-27-2021, 08:44 AM
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Originally Posted By trippped⏩
so i can contact them and have it done? i hadnt opened my app for 8 months prior to monday

or i get my account up to 25k and thats all i can do now?

when would my account open back up?
You're going to have to talk to them. I don't know what's going to immediately happen to your account. Long term if you get it legal (ie 25k) for 3 months you can get unflagged, but you're in a pickle right now. I'm guessing they will suspend your trading abilities. Srs call them up. But work with them, they have to comply with SEC rules or they get f'd. They'll give you a day or two to comply, longer maybe if you're really nice.

Broker really need to make these rules more apparent. I'm actually on probation because I traded in non settled funds. I didn't think it would let me trade if a trade would be in violation (or at least it would give me a message) but it let it go through with no error or msg. Those are 2 things you have to be aware of if you are trading a lot
post 1629831293 01-27-2021, 08:49 AM
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#392
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Originally Posted By Briisk⏩
If someone had cliffs on that situation that would be awesome, but basically stonk market and stonks = scam? Big players rule the market and little dudes get raped?
yes unless they all work together in which case the big players get raped and go out of business.

some people think a stock has value backed by some ability to produce a thing or service. modern investing teaches us that memes have their own value and meme battles can drive up stock prices super fast because stocks only go up.
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post 1629831573 01-27-2021, 08:52 AM
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#393
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Originally Posted By AltarOfPlagues⏩
yes unless they all work together in which case the big players get raped and go out of business.

some people think a stock has value backed by some ability to produce a thing or service. modern investing teaches us that memes have their own value and meme battles can drive up stock prices super fast because stocks only go up.
Word dude.

Old boomers think they can mess with millennials but we’re (in general) not as dumb as they think.

A meme or thread can fabricate a “value” on something.. crazy.

At this point it’s pretty much real estate land or bust for investing.
14-9 total correct guesses (1st place), 61% accurate - Lyon Gaultier Presents Euro 2012 Contest ||| 45-33 total correct guesses (4th place), 58% accurate - 2014 World Cup Pick Em' Giveaway by Lyon Gaultier
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post 1629831673 01-27-2021, 08:53 AM
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Originally Posted By Briisk⏩
If someone had cliffs on that situation that would be awesome, but basically stonk market and stonks = scam? Big players rule the market and little dudes get raped?
https://www.youtube.com/watch?v=4EUb...ature=youtu.be
post 1629831883 01-27-2021, 08:55 AM
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#395
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Damn a months pay already just from pressing some buttons

My only regret is not buying way more @$39 SMFH
post 1629832123 01-27-2021, 08:58 AM
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#396
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Transferred 1k to my ally invest account lastnight so I could hop on the AMC train.

Coincidentally, all morning my ally invest account is having “technical difficulty’s” and I can’t access it to buy.
post 1629832193 01-27-2021, 08:59 AM
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Hit $380 for a second there, to the moon.
post 1629832293 01-27-2021, 09:00 AM
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Originally Posted By rootcon⏩
You're going to have to talk to them. I don't know what's going to immediately happen to your account. Long term if you get it legal (ie 25k) for 3 months you can get unflagged, but you're in a pickle right now. I'm guessing they will suspend your trading abilities. Srs call them up. But work with them, they have to comply with SEC rules or they get f'd. They'll give you a day or two to comply, longer maybe if you're really nice.

Broker really need to make these rules more apparent. I'm actually on probation because I traded in non settled funds. I didn't think it would let me trade if a trade would be in violation (or at least it would give me a message) but it let it go through with no error or msg. Those are 2 things you have to be aware of if you are trading a lot
so basically unless i can get in contact with someone im going to be stuck holding my dick in my hand over here?
post 1629832313 01-27-2021, 09:00 AM
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#399
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Originally Posted By Coach
Transferred 1k to my ally invest account lastnight so I could hop on the AMC train.

Coincidentally, all morning my ally invest account is having “technical difficulty’s” and I can’t access it to buy.
All brokers are getting hammered and have been up/down all day.
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post 1629832753 01-27-2021, 09:05 AM
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Originally Posted By trippped⏩
so basically unless i can get in contact with someone im going to be stuck holding my dick in my hand over here?
Yeah. You technically violated FINRA rules. I don't think your broker can legally allow you to continue trading until you bring your account value up to $25k
post 1629832883 01-27-2021, 09:06 AM
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bruh...could have bought a no-date sub if I had just held all the shares I sold yesterday

https://www.crownandcaliber.com/prod...-10-rol-pfkdml

fookin hell m8
post 1629833083 01-27-2021, 09:08 AM
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Money printer go BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
𝗣𝗨𝗥𝗘𝗕𝗟𝗢𝗢𝗗
ωσяℓ∂ тяανєℓєя ȼяєω ₅₀/₁₉₅
𝕬𝖊𝖘𝖙𝖍𝖊𝖙𝖎𝖈𝖆𝖑𝖑𝖞 𝕮𝖚𝖙 𝕸𝖆𝖘𝖙𝖊𝖗 𝕽𝖆𝖈𝖊 ®
ᗪIᔕᑕᖇIᗰIᑎᗩTIOᑎ E᙭ᑕᒪᑌᔕIOᑎ IᑎᗪOᑕTᖇIᑎᗩTIOᑎ
post 1629833163 01-27-2021, 09:09 AM
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Originally Posted By rootcon⏩
Yeah. You technically violated FINRA rules. I don't think your broker can legally allow you to continue trading until you bring your account value up to $25k
lol what? how would that even be possible
post 1629833213 01-27-2021, 09:10 AM
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Originally Posted By trippped⏩
lol what? how would that even be possible
repped for being a criminal
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i am the thousand greens that rep, i am the ban bet dutifully kept
of memes and trolls in toasted breads, i am not there, i am not dead.
post 1629833433 01-27-2021, 09:13 AM
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Is that big action at 9:43am more short positions being taken?

post 1629833703 01-27-2021, 09:15 AM
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#406
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[QUOTE=rootcon post_id=1629833433]Is that big action at 9:43am more short positions being taken?

[img]https://i.postimg.cc/3RDX2vXx/gme.png[/im][/QUOTE]logically i want to say surely not. but this whole thing is such a clusterfuk. maybe after hours they calculated it was their only option?
do not read my posts and weep, i am not there i do not sleep
i am the thousand greens that rep, i am the ban bet dutifully kept
of memes and trolls in toasted breads, i am not there, i am not dead.
post 1629833723 01-27-2021, 09:15 AM
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#407
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This is fukin crazy boyos
post 1629834343 01-27-2021, 09:20 AM
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Originally Posted By meanstringbean⏩
You realize gamestop sees none of this money right?
The company? No.

The official insiders like CEO, CFO, chairman of the board, etc.? No, probably not so much if they have to register their sales Y number of days in advance.

The little guys who work there and got stock options or grants? Hell yeah. This is Christmas x1000 for them. If they aren't selling what they can, while they can, they are fools. Probably lots of regional managers and mid-level people are finally getting a bite of the apple right now.

People who were stuck with long positions on this stock at higher cost bases than the stock was worth a few weeks ago all got a "get out jail free" card, courtesy of the autists over at reddit.
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post 1629834633 01-27-2021, 09:24 AM
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#409
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also a company "is" its book value and the intentions of its shareholders. ryan cohen or whoever "is" some portion of gamestop. so does the "company" see profits? of course. the company is the shareholders.

so if i am ryan cohen and i am keen to run a video game company, i am lookin at some possible acquisitions right the fuk now.
do not read my posts and weep, i am not there i do not sleep
i am the thousand greens that rep, i am the ban bet dutifully kept
of memes and trolls in toasted breads, i am not there, i am not dead.
post 1629834783 01-27-2021, 09:25 AM
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Originally Posted By AltarOfPlagues⏩
logically i want to say surely not. but this whole thing is such a clusterfuk. maybe after hours they calculated it was their only option?
When I was a young engineer, something like this happened with a penny stock called Bre-X. Look it up if you're curious. It was more a case of outright fraud with that stock, but the mania was the same. Bre-X was shooting up and people were panicking to get in on it for fear of missing out. Those people got taken to the cleaners.
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post 1629834803 01-27-2021, 09:26 AM
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#411
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Originally Posted By MiscInformed⏩
The company? No.

The official insiders like CEO, CFO, chairman of the board, etc.? No, probably not so much if they have to register their sales Y number of days in advance.

The little guys who work there and got stock options or grants? Hell yeah. This is Christmas x1000 for them. If they aren't selling what they can, while they can, they are fools. Probably lots of regional managers and mid-level people are finally getting a bite of the apple right now.

People who were stuck with long positions on this stock at higher cost bases than the stock was worth a few weeks ago all got a "get out jail free" card, courtesy of the autists over at reddit.
Did something similar happen to Tesla (some sort of short squeeze)? I remember Musk was at war with the shorts. Even got punished for trying to manipulate the stock with that tweet he made.
post 1629835063 01-27-2021, 09:28 AM
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#412
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Originally Posted By rootcon⏩
Did something similar happen to Tesla (some sort of short squeeze)? I remember Musk was at war with the shorts. Even got punished for trying to manipulate the stock with that tweet he made.
he said shorting should be illegal.

as i recal melvin bragged about shorting tsla. maybe thats why elon is interested.


imo melvin will keep buying shorts with the assumption that eventually there will be a big sell off and they will be fine.

its hard to imagine though, how much is retail and how much is not.
do not read my posts and weep, i am not there i do not sleep
i am the thousand greens that rep, i am the ban bet dutifully kept
of memes and trolls in toasted breads, i am not there, i am not dead.
post 1629835093 01-27-2021, 09:29 AM
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#413
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Originally Posted By AltarOfPlagues⏩
i dont think they would have to pivot much to be legitimate. i love going into retro game stores, i have the retro bit duo.

i walked into a brick and mortar last year that sold warhammer shiit? idk what that is really. this was an expensive retail space run by two slavs. edit- point being i cant imagine it takes some kind of wide audience to run a functional retail space after i seen that. i made the guy explain to me three times wtf they actually sold.
I bet that's a money laundering operation. Sounds like it. Two slavs running a tabletop gaming store in a mall? In 2020?? Yeah, my bet is on money laundering.
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post 1629835343 01-27-2021, 09:31 AM
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#414
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Originally Posted By MiscInformed⏩
I bet that's a money laundering operation. Sounds like it. Two slavs running a tabletop gaming store in a mall? In 2020?? Yeah, my bet is on money laundering.
thats what i thought. but then again i have been in a pretty large store in myrtle beach with like 6 minimum wage employees that only sold candy. how tf much nerds rope would you have to sell? maybe they are a front for big candy and are are supposed to run a loss wtf do i know.
do not read my posts and weep, i am not there i do not sleep
i am the thousand greens that rep, i am the ban bet dutifully kept
of memes and trolls in toasted breads, i am not there, i am not dead.
post 1629835483 01-27-2021, 09:33 AM
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#415
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Originally Posted By AltarOfPlagues⏩
he said shorting should be illegal.

as i recal melvin bragged about shorting tsla. maybe thats why elon is interested.
Interesting. I bet there's a lot to this story.

ZH reports Melvin covered yesterday at 90 but says to treat information as suspect
before the stock slumped following a report from CNBC that Melvin Capital, the nemesis of r/wallstreetbets which needed a $2.75BN bailout from Citadel and Point72 to avoid a terminal margin call, had "closed out its short position in GameStop on Tuesday afternoon after taking a huge loss" the fund's manager Gabe Plotkin told CNBC’s Andrew Ross Sorkin. It was unclear what exactly this meant: did Melvin merely sell its now worthless puts, or did it also have associated GME shorts on the underlying stock? We assume both, although it could very well just be fake news and an attempt to deflect the relentless WSB army of daytraders. Until there is official confirmation from Mevlin, we should treat this information as suspect.

Additionally, moments after the CNBC report, short-seller Andrew Left's Citron Research fund also announced in a Twitter clip that it had covered most of its GME short yesterday around $90.
Read earlier that puts have to be declared in formal documents, but short positions do not.
post 1629835673 01-27-2021, 09:35 AM
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Originally Posted By rootcon⏩
Did something similar happen to Tesla (some sort of short squeeze)? I remember Musk was at war with the shorts. Even got punished for trying to manipulate the stock with that tweet he made.
I don't know. I don't follow the markets closely. I will say this... we're living in an era of robber barons and oligarchs. The stock market rules weren't designed for an era like this, where $10B or $20B can be so easily corralled to trade a stock. I know that there are smarter people than me, who love money way more than me, who spend all of their waking moments scheming on how to get rich in the market. The kind of complex chit they come up with to target companies and dupe investors in order to bleed them dry makes my head spin. I wouldn't doubt for a minute that they went after Musk in the past, especially when he was rumored to not to be doing so well financially. Buy stocks you believe in and know and hold them long term. That's my philosophy. Everything else is too much like poker to me. I suck at poker.
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post 1629836083 01-27-2021, 09:40 AM
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Originally Posted By AltarOfPlagues⏩
he said shorting should be illegal.

as i recal melvin bragged about shorting tsla. maybe thats why elon is interested.


imo melvin will keep buying shorts with the assumption that eventually there will be a big sell off and they will be fine.

its hard to imagine though, how much is retail and how much is not.
This is very good insight, will rep on rc.

1) if Melvin keeps selling short, I really do think that he’ll be out powered by Reddit buyers. We’ve reached critical mass

2) good point on retail vs inst. I would imagine that the retail buyers are enough to get to a certain point, but eventually they will take profits as well. I don’t think retail investors will short, and I think that if anything, more institutions will short (and get over powered) and some institutions will surprisingly be long (very temporarily- I think they will be eager to take profits as well)
post 1629836153 01-27-2021, 09:41 AM
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#418
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Originally Posted By AltarOfPlagues⏩
repped for being a criminal
lol thanks ill take the reps to the bank, anyone have any idea if i can sell this ****? or am i just **** out of luck?
post 1629836693 01-27-2021, 09:45 AM
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#419
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Originally Posted By Hmatt330⏩
This is very good insight, will rep on spread.

1) if Melvin keeps selling short, I really do think that he’ll be out powered by Reddit buyers. We’ve reached critical mass

2) good point on retail vs inst. I would imagine that the retail buyers are enough to get to a certain point, but eventually they will take profits as well. I don’t think retail investors will short, and I think that if anything, more institutions will short (and get over powered) and some institutions will surprisingly be long (very temporarily- I think they will be eager to take profits as well)
As long as the retail investors don't put too much in and can weather the Melvin and friends shorting attacks. Its like Angie Verona on Onlyfans. $20 (or $10 at 50% off) a month x 6000 subs starts to become real money. Get quite a few people interested in something and they can collectively put up a lot of muscle. If each puts in just a little, the risk is low.
post 1629836793 01-27-2021, 09:46 AM
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#420
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Originally Posted By trippped⏩
so i can contact them and have it done? i hadnt opened my app for 8 months prior to monday

or i get my account up to 25k and thats all i can do now?

when would my account open back up?
i got screwed in the 08 crash. stupid 13 yo me had put a bunch of stops and rebought them and got flagged. its not pretty
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