GameStop Stock surges due to meme traders

[Dreiko]

Which will overwhelmingly be a load of other small investors. I don't know how much of a win that really is.

The idea is that a whole lot of people will lose a tiny bit of money each in order to give it to the billionaire hedge fund manages by making them go bankrupt. Unlike them, we're not doing this to make a profit.

Only the opportunists who are gonna jump in looking to exploit this moment for their personal gain will invest any notable sum that they'd actually mind losing here, and those, well, they should lose it because it isn't about making money, it's about sticking it to those who sacrifice others to make money.

 

[Dwarvenhobble]

Which will overwhelmingly be a load of other small investors. I don't know how much of a win that really is.

I dunno it could also be a lot of hedgefund desperate to avoid losses from short selling jumping in on the shares on the way up to avoid losses and potentially recover from some of their losses.

Again 112% of the total shares of gamestop were being sold.

 

[Trunkage]

Not but trading apps are a service.

Ah, so you’re saying that denying service to small time investors is the sme as denying service to people who keep talking about genocide and flaying people

 

[Dreiko]

Ah, so you’re saying that denying service to small time investors is the sme as denying service to people who keep talking about genocide and flaying people

Nah, the small time investors will actually harm someone (in this case headge fund managers) through their use of that service, people who talk about genocide need to take further actions that are not gonna be on a service in order for actual harm to occur. As long as we have laws prohibiting those further actions there's no need to limit speech too.

 

[Dwarvenhobble]

Ah, so you’re saying that denying service to small time investors is the sme as denying service to people who keep talking about genocide and flaying people

except that's not all people have been getting suspended for. Hell I'm sure the hedge fund people are more worried by the Billions in losses than some lunatic mouthing off on twitter to all 3 followers they have

 

[Trunkage]

Nah, the small time investors will actually harm someone (in this case headge fund managers) through their use of that service, people who talk about genocide need to take further actions that are not gonna be on a service in order for actual harm to occur. As long as we have laws prohibiting those further actions there's no need to limit speech too.

*Looks at Jan 6th, and then at a whole bunch of mass shootings across America.* Sure it does, Dreiko.

Also, Hedge Fund Managers made up some dangerous and illegal financial instruments that significantly damage business, employees, 401k and the wider economy. I don’t mind they get comeuppance

Also, either change the definition of free speech or stop using it inappropriately

except that's not all people have been getting suspended for. Hell I'm sure the hedge fund people are more worried by the Billions in losses than some lunatic mouthing off on twitter to all 3 followers they have

when did you guys get so pro-hedge fund? No, hedge fund managers loved Trump. He picked on the little guy and pretended the rich could do whatever they want. We’ll see if they lost when Biden comes in (I have little faith in him reigning in rich destroy... but the hedge funds sure are on shakier ground

But it looks like Melvin might be going down, and I’m happy to say good on you meme lords.

 

[Dwarvenhobble]

*Looks at Jan 6th, and then at a whole bunch of mass shootings across America.* Sure it does, Dreiko.

Also, Hedge Fund Managers made up some dangerous and illegal financial instruments that significantly damage business, employees, 401k and the wider economy. I don’t mind they get comeuppance

Also, either change the definition of free speech or stop using it inappropriately



when did you guys get so pro-hedge fund? No, hedge fund managers loved Trump. He picked on the little guy and pretended the rich could do whatever they want. We’ll see if they lost when Biden comes in (I have little faith in him reigning in rich destroy... but the hedge funds sure are on shakier ground

But it looks like Melvin might be going down, and I’m happy to say good on you meme lords.

Strange I'm not the one suggesting private companies should do this. I've been pretty consistently against that and so has Dreiko

But strange how you're upset now but some-one saying words you don't like is somehow so harmful it must be stopped. Seems your consistency is only consistently changing position to harm those you dislike.

Additionally Free Speech is a principal. What you are arguing is relating to the US legal definition in the constitution. While the constitution version was likely based on the principal it was never as definitively open as the principal so no the definition isn't being used inappropriately because it doesn't advocate for limiting speech you dislike.

 

[Trunkage]

Strange I'm not the one suggesting private companies should do this. I've been pretty consistently against that and so has Dreiko

Dwarvenhobble: fRee SpEecH
Also Dwarvnhobble: Anyone who uses the word racist is evil

Very ideologically consistent

 

[Dreiko]

*Looks at Jan 6th, and then at a whole bunch of mass shootings across America.* Sure it does, Dreiko.

Also, Hedge Fund Managers made up some dangerous and illegal financial instruments that significantly damage business, employees, 401k and the wider economy. I don’t mind they get comeuppance

Also, either change the definition of free speech or stop using it inappropriately

I'm fairly sure the riots on Jan 6 required physical conduct and were not solely conducted through a service. People had to physically go there, and they then had to engage in violence and break down windows and whatnot. You can not break windows by posting rude tweets. You can only do it by actually physically exerting force, which is already illegal.

 

[Dwarvenhobble]

Dwarvenhobble: fRee SpEecH
Also Dwarvnhobble: Anyone who uses the word racist is evil

Very ideologically consistent

Oh I'm sorry am I not allowed to use my free speech to say calling some-one racist because said other person white and want to wear a Japanese dress to prom is stupid?

Yelling racist doesn't give you a special protected speech status and deny criticism especially when it's bullshit like trying to tell people what they can't and can't wear or how they can and can't have their hair cut or what they can and can't eat just because some people seem to be so desperate to get any ounce of control others

 

[Trunkage]

I'm fairly sure the riots on Jan 6 required physical conduct and were not solely conducted through a service. People had to physically go there, and they then had to engage in violence and break down windows and whatnot. You can not break windows by posting rude tweets. You can only do it by actually physically exerting force, which is already illegal.

I’m fairly sure evidence has been taken from Social Media sites to prove all that was illegal. Because they posted their illegality on a site

Im fairly sure when Trump was talking about repealing 230, it would mean that the sites would be liable for anything their user post. Even without that, I’m fairly sure sites will have to prove they can contain such illegality on their site for investors to want to be involved. There is a reason why Twitter has its own servers. No company would ever want to be involved in the levels of hate coming out of that app.

 

[Trunkage]

Oh I'm sorry am I not allowed to use my free speech to say calling some-one racist because said other person white and want to wear a Japanese dress to prom is stupid?

Yelling racist doesn't give you a special protected speech status and deny criticism especially when it's bullshit like trying to tell people what they can't and can't wear or how they can and can't have their hair cut or what they can and can't eat just because some people seem to be so desperate to get any ounce of control others

Just because you say whatever you like does not make you a proponent of Free Speech. Remember here when you were talking Barbour limiting speech?

Additionally Free Speech is a principal. What you are arguing is relating to the US legal definition in the constitution. While the constitution version was likely based on the principal it was never as definitively open as the principal so no the definition isn't being used inappropriately because it doesn't advocate for limiting speech you dislike.

You are advocating for limiting speech you don’t like. You’re saying people are bad for using it.

The only difference between you and Jack Dorsey is that he has an actual button that lets him do it

Edit: I've got a better way of saying this.

If you use your Free Speech to limit other people's Free Speech, then perhaps you don't understand what Free Speech is

 

[Dirty Hipsters]

Oh I'm sorry do the posters here who were all "Private companies can do what they like they're not obliged to provide services to people" suddenly no longer exist?

Cause pretty sure over the past few weeks we've had a number of people saying lines like that. I seem to remember you being very supportive of said position too.

Yes, private companies can do what they want unless they do something ILLEGAL.

You know, like locking people out of being able to buy stocks so that they can artificially deflate the price of that stock through illegal market manipulation in order to try and scare people into panic selling.

 

[Dirty Hipsters]

Welp, all the stuff RobinHood has done was laid out in their EULA and probably isn't illegal.

From what I understand their EULA allows them to cancel trades made on margin, or sell stocks bought on margin if they don't think the user is able to cover the margin.

Some people are claiming that Robinhood was selling people's shares that were not bought on margin, which would be outright stealing if true.

 

[crimson5pheonix]

 

[Dirty Hipsters]

Short sellers, the heroes who gamble that a company will fail and then do everything in their power to make it fail because they're huge pieces of shit.

 

[crimson5pheonix]

Short sellers, the heroes who gamble that a company will fail and then do everything in their power to make it fail because they're huge pieces of shit.

There are times when short sellers do good, but it's almost always incidental.

 

[Dwarvenhobble]

Fun fact the writer of that piece lists the main place he writes as a publication aimed at stockbrokers financiers lol

 

[Dirty Hipsters]

There are times when short sellers do good, but it's almost always incidental.

Just like a tapeworm.

 

[Gergar12]

The problem with Wall Street is that in the future when accountants and financiers are automated out of existence. There will be an investor class with billions in assets, and millions in dividends/ payments you get for owning the stock.

For example, if you have around 1 million in stock that's 30 thousand in dividends. So my question to you is why should people get paid nothing to sit on their ass in the future while people are struggling to make ends meet in a gig economy in the future on the labor of people who actually work.