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Reddit vs. Wall Street

Discussion in 'Sports and News' started by Inky_Wretch, Jan 27, 2021.

  1. Octave

    Octave Well-Known Member

    How is this shit legal?
     
  2. The Big Ragu

    The Big Ragu Moderator Staff Member

    What exactly should be illegal?
     
  3. goalmouth

    goalmouth Well-Known Member

    STORMING THE CAPITOL
     
  4. goalmouth

    goalmouth Well-Known Member

    Is Goya public? Now THAT would be funny.
     
  5. DanielSimpsonDay

    DanielSimpsonDay Well-Known Member

    Nasdaq's Adena Friedman Suggests Trading Halt to Combat Reddit

    "I really think at this point it calls upon the regulators, in this case, the New York Stock Exchange, to consider simply suspending it for a month and stop trading it,” Massachusetts Commonwealth Secretary William Galvin said in a statement to Barron’s. “These small and unsophisticated investors are probably going to get hurt by this.
     
  6. The Big Ragu

    The Big Ragu Moderator Staff Member

    No, no, no.

    The world doesn't need Adena Friedman deciding how to protect people from themselves.

    Plus, if you halt it for a month, you are screwing anyone who owns it. You take what they thought was a liquid position and arbitrarily make it illiquid on them. And what about leveraged positions? Those people should have to pay to own something they then can't sell? And then. ... wtf does she think happens when it reopens after a month?
     
    justgladtobehere likes this.
  7. qtlaw

    qtlaw Well-Known Member

    Exactly. The buyers know exactly what they're doing, they are willing to risk buying at a high price to screw over those sitting with short positions. What's the problem?

    The buyers are actually not even hedging or using ill-liquid positions, just equity positions because its the stock price that's going up, not the puts or calls right?

    Stepping only helps one side, the folks sitting on the shorts. Once again, helping the rich. F that.
     
  8. qtlaw

    qtlaw Well-Known Member

    What are you addressing? Driving the price up? That's basic marketplace economics, being willing to pay $X for X shares. Just because you disagree with what the buyers are willing to pay is not a reason to stop the market.
     
    justgladtobehere likes this.
  9. Inky_Wretch

    Inky_Wretch Well-Known Member

    Then why am I seeing people suggesting stopping it via regulation?
     
  10. Songbird

    Songbird Well-Known Member

    So I can't invest $5K today and have it be like $100K by 5 o'clock?
     
  11. Scout

    Scout Well-Known Member

    Reddit or shorting stocks?

    Everything is allowable if it raises the value of stocks. There is so much shadiness in the stock market it’s not even funny.
     
  12. Splendid Splinter

    Splendid Splinter Well-Known Member

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