Read on Twitter
So what will be the aftermath of this GME event?
These are simply my guesses, I don't actually know.
Wallstreet will likely push for licenses being necessary to trade, or put more limits on how many trades you can make, or some other way to screw the average person trading. 1/
These are simply my guesses, I don't actually know.
Wallstreet will likely push for licenses being necessary to trade, or put more limits on how many trades you can make, or some other way to screw the average person trading. 1/
FYI, you can only make 4 trades in a day, but if you have more than $25,000 in your account you can make as many as you want.
The system is rigged against the poor, and weighted heavily in favour of the rich. 2/
The system is rigged against the poor, and weighted heavily in favour of the rich. 2/
Will the government shut down the market?
It's possible, but I doubt it.
It would open up new precedents and the optics would be terrible- i.e. shutting down the market because greedy hedgefunds fucked up, and normal people are taking them to the cleaners. 3/
It's possible, but I doubt it.
It would open up new precedents and the optics would be terrible- i.e. shutting down the market because greedy hedgefunds fucked up, and normal people are taking them to the cleaners. 3/
If the government gives in to Wallstreet, they lose all credibility, because this story is basically David vs Goliath, where the Reddit guys are the good guys, and the hedgefunds are the bad guys.
4/
4/
Likely they will implement similar rules to Europe, that stops naked short selling.
Anything more than that, I'm not sure.
I think the media will push the threat of the government shutting down trading, in order to scare people into selling, to give short sellers a way out. 5/
Anything more than that, I'm not sure.
I think the media will push the threat of the government shutting down trading, in order to scare people into selling, to give short sellers a way out. 5/
Because, after all, big money looks after big money.
And these media giants are some of the biggest, richest, most influential men on the planet. So they're gonna try and help their hedgefund pals out. 6/
And these media giants are some of the biggest, richest, most influential men on the planet. So they're gonna try and help their hedgefund pals out. 6/
So we're gonna see the media paint these Reddit traders as reckless idiots, who could destroy the market and the economy.
They're pushing all sorts of bullshit, like these Reddit guys are manipulating the stock illegally (they're not). 7/
They're pushing all sorts of bullshit, like these Reddit guys are manipulating the stock illegally (they're not). 7/
Some media guests on CNBC tried to claim this GME fiasco was a plot by foreign governments to try and harm the US.
Like, really? REALLY?
These foreign governments don't go after banks, or the US treasury? They go after gamestop? THAT'S YOUR ARGUMENT!?! 8/
Like, really? REALLY?
These foreign governments don't go after banks, or the US treasury? They go after gamestop? THAT'S YOUR ARGUMENT!?! 8/
But all in all, the next few weeks will be incredibly interesting to watch.
What do you guys think is gonna happen?
What do you guys think is gonna happen?
Update on this insanity: https://twitter.com/MrBrownEyes2020/status/1354823798428561420
Btw, theres a limit to how many times you can sell a stock and buy it back on the same day, in a week.
But if you have more than $25,000 in your account you can make as many day trades as you want.
The system is rigged against the poor, and favours the rich in every way.
2/
But if you have more than $25,000 in your account you can make as many day trades as you want.
The system is rigged against the poor, and favours the rich in every way.
2/
