I’ve got no skin in this game, but I can’t see how this move by the trading apps is anything but corruption.  Can anyone smarter than me explain why this might not be them bowing to rich people pressure?

This is no more pump and dump than a TV show advising people to buy a certain stock is. The fact that people listened doesn’t suddenly make it illegal.

How is it pump and dump if there’s no deception? Did r/wallstreetbets, as a group, lie about what they were doing? I don’t think so. And even if someone did, good luck proving it and tying any of the purchases to that lie. 

Your looking for a conspiracy to exist when theres a stupidly simple explanation we’ve seen play out countless times before.

Yep. Bernie Madoff didn’t didn’t go to prison for fucking over the poor and middle class.

You fucking imbecile, of course its fraud if its not done over a round of golf!

Wow. Hate speech? There is plenty of stupid speech there, but hateful?  First NASDAQ halts trading. Then brokers limit trading. Now this. The crooks working overtime to stop the squeeze. The game is being gamed. LOL. 

Doubt that it’s about racism.  r/WSB has always had an affectionate relationship with calling themselves autistic and r-worded.

Today, we decided to remove the server and its owner from Discord for continuing to allow hateful and discriminatory content after repeated warnings.

its a 2m-3m person subreddit, of course there are some.

I have a hard time believing that this is because of any “hate speech” and not some damage control made by some wealthy hedge fund members

That statement right there made me smile like the fat cat that just ate the canary, the fact the Reddit became its own hedge fund and is lead by randos is even more hilarious .

So you are saying that this is a perfect storm of events that is enabling this to happen? I only have an elementary understanding of how all this works but I am enjoying the shit show that its become.

Short selling actually has been banned in the past.

Towards the end of the Great Depression, the US banned short sales of financial assets while the asset was in a downward trend.

It will not surprise you to know that the rule was repealed in 2007.

Hope this goes higher: shorting is very profitable exactly *because* it’s also incredibly risky, which is why buying on margin was a big part of what caused the Great Crash, and shorting is more-or-less the same thing with extra steps.

As I understand it, that is only working in this case because the stocks are overshorted, which means that the speculators who shorted GameStop are obligated to buy back shares. The lack of available shares for buy-back is driving the price up far faster than it would in an ordinary scenario. The speculators have to…

The key thing to keep in mind is that, regardless of the wackiness of what’s going on on the /r/WSB board, the strategy here is ironclad-solid: Short-sellers got overexposed, over-bet on a struggling company to go bust faster than they naturally would, got surprised by good news, and are being pantsed as they’re…

We finally have the definition for “????” in our x-step program!

Not gonna lie, I think it would be hilarious if memes killed the stock market. lol 

I saw an article about all this business a few days ago and considered investing.

Then I didn’t.

Well that’s going on the the long list of regrets I’ve accrued thus far.