Ponzi game--White shirt style

[SIDEWINDER]

Just like with everything else, there will be winners and losers. The problem is far more losers when all is said and done then winners.  This is far different then a company who's value rises on the items produced.  This is stock being manipulated to drive up prices. So should rules be changed to stop this from happening?  Perhaps making someone hold stock for a set period of time before selling it?

BTW: Just my opinion but I don't think this is good for anyone in the long run.
[/size]

https://www.cnet.com/news/amc-gamestop- ... cant-last/

[MrTShirt]

Apparently a bunch of folks (mostly hedge fund folks) shorted this stock, thinking it was going bust.  However, others, seeing the "over shorting" condition, others started buying and driving the stock through the roof.

Then social media gets involved.  They were doing the pump and dump routine.

Then some trading houses are limiting their members' desire to trade in the frenzy.

Probably the most interesting factor is how social media can affect (infect?) the stock market.  Social media has already proved how it can infect the news.

[MrTShirt]

Right now the hedge funds have 40 billion in short positions.

(Some financial institutions like AmeriTrade, and Schawb are preventing the "regular investors" from buying GameStop, only permitting selling.  Just like Parler's web host kicked them off - you can only do what a few have decided as to what is permitted.) 

[Florida Couple]

I've been following the short squeeze drama with Gamestop, AMC, and Blackberry.  It's interesting as we see a generational war going on.  The major trading sites, including Robinhood (millenial favorite) have stopped most the buying of these stocks.  The threads on reddit were hilarious as this was literally generational warfare and gambling.  We invest, we don't gamble.

The hedge funds were viewed as "Boomer" money and the millennials caused them a LOT of hurt.  Losses / loans of 3 billion for one hedge fund.  It was entertaining to watch.

[SIDEWINDER]

I called it "White Shirt Style" for a reason. Is what's happening now really any different then what stock professionals do it every day by driving the price of stocks up and then jumping off letting others take the loss? The professionals have ready access to stock movement within a split second and with the super fast computers and internet speed that normal people don't have can dump a stock far before others would even realize what's happening.  Kind of scary the stock market can really be manipulated this easy.
Solutions?  Perhaps if someone had to hold onto a stock for a certain period of time before reselling it, they might think twice about buying it knowing they could not just dump it and move on leaving someone else with the loss.  [/size]

[rachelvarga]

I have never seen a generation more hateful to the ones before them. Millennials just hate on Boomers. It's sad really. It shows just how entitled they think they are and understanding technology has given them a false sense of knowledge. This will backfire on them when their kids are even worse to them and can't understand why.

[Florida Couple]

I have never seen a generation more hateful to the ones before them. Millennials just hate on Boomers. It's sad really. It shows just how entitled they think they are and understanding technology has given them a false sense of knowledge. This will backfire on them when their kids are even worse to them and can't understand why.

We're Gen X and we couldn't agree more.  It's weird to see how some (a large percentage for sure) of Millennials actually hate the Baby Boomers.  It makes us glad we're in this forgotten middle generation.  I think the lack of respect is a little concerning.  Saying gen XXXXX made mistakes is one thing.  To try and harm them and hold disdain is something else.