They are much better now that there are retail sites that allow smaller investors to trade with no fees. That was quite the barrier to entry for your average Joe. Whether it was real or imagined, people were scared away from dipping into equities, and there was this school of thought that a regular Joe should only invest through an adviser. Many probably should. But many also don't need to.

But now that that barrier is gone, the whiners are out complaining that the proletariat has disrupted their perfectly functioning markets - this at the same time the Federal Reserve and Government are working hand-in-hand to redistribute money upward and inflate share prices of gigantic financial institutions, in particular. It's a real knee-slapper when you think about it.

I just hope you can see that GME is a pump and dump scam. Sure, the little guy is causing it, but there is no fundamental reason for this move. But hell, most of the market is wildly inflated on a fundamental basis. This is all financial folly that will end poorly for all of us.

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Hawaii (fuck) You

I think the point is that these billion dollar hedge funds wouldn't exist if they couldn't do things the average investor at home can't.

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

That's what I stated in my initial post on the matter. I also bet some guy named Syrup Suitcase that it would be back below 200 by Friday (which isn't looking good).

I was waiting for someone to bring it up.

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When I am stuck and need to figure something out I always remember the Immortal words of Socrates when he said:"I just drank what?"

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Mitch Cumstein

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Hawaii (fuck) You

Like I said, I wouldn't use the term "pump and dump" because that has specific connotations. Of course, the Establishment would love to label this a "scam" in order to suggest something illegal or untoward ocurred rather than a bunch of sharks getting bitten the way they bite all the time.

Anyway, I think everyone is aware that Game Stop hasn't come up with a cure for COVID or a way for humans to travel at the speed of light or whatever and isn't suddenly profitable in a way that justifies the current stock price.

I do find it funny though that this price is considered a "scam" when there's no traditional "fundamental" justification for the current price of TSLA or many others either. By that definition, the entire market is a scam.

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Anybody here seen my old friend Bobby?
Can you tell me where he's gone?
I thought I saw him walkin' up to The Hill
With Elon, Tulsi, and Don

Ironically, a "worthless" company like Gamestop (and it was complete shit) is now worth $25 billion and could, in theory, start rebuilding/rebranding the company through acquisitions as something that may actually be worth something.

Kind of like Tesla...there was a time not that long ago when their existence was in doubt -- now they could buy Toyota based solely on their share price/market cap.

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Matt Levine calls it an "honest pump and dump," but allows that it could be construed as a form of market manipulation by the SEC. One of the criteria is that someone, alone or in concert with others, buys a stock with the intent of the order to push the price up (vs buying the stock based on the fundamentals or technicals). It's a fine line, and probably closer to the spoofing rules in the futures markets, as far as trying to clamp down on the practice.

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Anybody here seen my old friend Bobby?
Can you tell me where he's gone?
I thought I saw him walkin' up to The Hill
With Elon, Tulsi, and Don

This story is too mainstream now. I bet tomorrow we will see a big dump and then all the college kids who got in at 100+ will start complaining that they got screwed.

I also expect stories on how unfair it is that some of the kids made a bundle while the poor working kids were making $8/hr flipping burgers, or nothing at all as they don't have access. And I'm not saying there's not truth in that...it's just going to be exhausting to hear complaints from every direction.

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Fels is probably writing it as we speak.

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Anybody here seen my old friend Bobby?
Can you tell me where he's gone?
I thought I saw him walkin' up to The Hill
With Elon, Tulsi, and Don

I really think you are underestimating how big this thing has gotten. Its not just kids in a basement. There is serious money in this now and they all smell blood.

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I got a funny feeling there is gonna be a fiber bundle cut in the middle of the night

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When I am stuck and need to figure something out I always remember the Immortal words of Socrates when he said:"I just drank what?"

Maybe, but from my experience when something becomes too easy and it's the "hot" story people start selling.

Spiral continues to DISRUPT

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Fare you well, fare you well
I love you more than words can tell
Listen to the river sing sweet songs
To rock my soul

White supremacists are trading stonks now?

I think you’re overestimating what real money thinks of this thing. GameStop can’t borrow against it; no smart money is buying equity at current prices (in terms of a secondary raise). Tesla always had enormous future growth value - brick & mortar video game retailer? Not so much...

I don’t see how this is at all beneficial to the company.

I love it and hope it bankrupts a few hedge funds, but aside from a handful of retail investors I don’t see who’s getting much out of this.

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LOL @ Mets

Here’s hoping Trevor Bauer ends up on the Sox because once upon a time, a guy created chewy.com.

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God they are so pissed.

Tomorrow is going to be a fucking rock fight.

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R/wallstreetbets has been set to private.

R/wallstreetbetsnew is the alternative currently.

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Fare you well, fare you well
I love you more than words can tell
Listen to the river sing sweet songs
To rock my soul

The new WSB will be like Coke 2. It's over

J. Jill looks like it’s getting played....hits close to home, work wise.

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Hawaii (fuck) You

Sara Eisen, who is Rich Eisen’s niece or relative somehow, was cohosting a show on CNBC around the closing bell, and told a story of how her friend’s nanny bought into GameStop today.

She was concerned this nanny would suffer when the stock fell because the lady wouldn’t know when to sell.

Let that story sink in.

Millionaire concerned about friend’s servant losing a couple hundred bucks because she’s too dumb to play the rich man’s game.

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The seeds for regulation are being sewn. There is no warfare except class warfare.

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I am not sure how you regulate this, minimum order size? If anything the regulation would hit short sellers and hedge funds.

This stuff was going on big time with microchip stocks in the late 90's. The difference now is these are supposed regular investors rather than NY based boiler rooms.

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Hawaii (fuck) You