/r/wsb autists taking on a wallstreet hedgefund. Elon musk involved as always / wallstreetbets / gamestop - Gamergate 2: financial boogaloo

[Pee Cola]

Nokia and Blackberry had like one spike, are they really any good?

Potentially, and not just for the meme value.

Spoiler: Not Financial Advice

From my limited understanding, BB and NOK are turnaround stories.

BB has licensed their brand to a Onward Mobilty, a Texas-based 5G device startup. BB also has a hardcore base of loyal users, including corporate and government agencies around the world, for whom the BB ecosystem is far more suitable than iOS or Android.

Even if BB captures just 1% of the global mobile device market (1.5 billion units in 2019), that's still 15 million units per annum. Definitely enough to be sustainable, assuming BB is happy to remain a niche player and not do anything stupid like try and be a third way for normies or blow money on other dumb shit that goes nowhere.

One concern is that BB currently isn't profitable, and isn't expected to become profitable for a couple more years. This may not be a big deal if BB carefully manages its expenditure, as they had nearly $1b of cash and equivalents on hand as at 30 November 2020.

This link may be helpful (it's from a stock screener that I use when evaluating long-term investments).

The above was written as a result of maybe 10 minutes of searching and reading on BB (I couldn't be arsed doing the same with NOK). Do your own research and don't invest more than you can afford to lose. Good luck!

 

[Spasticus Autisticus]

Looks like RobinHood isn't just selling shares without consent, they're forcibly selling customer's call options out from under them.

View attachment 1881341
View attachment 1881343

For those who don't know the terminology, a call option is a contract you can buy that gives you the option to buy stock at a specific price, by some future date. If you don't exercise the option by its expiration, you lose the little bit of money you paid to have it; if you do exercise the option, you pay cash for the shares and get the shares at that price. You can also sell the contract itself to someone else before it expires.

The first guy basically had the option to buy 100 shares of GME at $115 while the price was around $300... and before he could choose to buy the shares, RobinHood forcibly sold the contract out of his account.

I'm tripling down on RH taking the other side of customer trades, or enabling Citadel to do so (who is now panicking). But that fucking CEO will probably come on and moan again about the clearing house not having enough shares to meet these contracts. This level of theft is fucking gross.

This isn't the first time Robinhood has done this. Here's an example of them doing something like this before:

r/options - Robinhood identified this trade as "High Risk" and closed it automatically on my behalf, costing me $1500. Can anyone explain this to me?

205 votes and 132 comments so far on Reddit

www.reddit.com

And a surprisingly good Quora answer about why Robinhood is terrible for trading options:

Why is Robinhood terrible for trading options? - Quora

 

[AnotherPleb]

Looks like RobinHood isn't just selling shares without consent, they're forcibly selling customer's call options out from under them.

View attachment 1881341
View attachment 1881343

For those who don't know the terminology, a call option is a contract you can buy that gives you the option to buy stock at a specific price, by some future date. If you don't exercise the option by its expiration, you lose the little bit of money you paid to have it; if you do exercise the option, you pay cash for the shares and get the shares at that price. You can also sell the contract itself to someone else before it expires.

The first guy basically had the option to buy 100 shares of GME at $115 while the price was around $300... and before he could choose to buy the shares, RobinHood forcibly sold the contract out of his account.

I'm tripling down on RH taking the other side of customer trades, or enabling Citadel to do so (who is now panicking). But that fucking CEO will probably come on and moan again about the clearing house not having enough shares to meet these contracts. This level of theft is fucking gross.

Robinhood's dead set on being the sacrificial lamb here to save the rest of the financial system from the rage, and congress is going to fall for it.

 

[Governor Jeb Bush]

the Jews gonna be preparing another Holocaust so people don't meddle with their finances again

 

[Polyboros2]

This is gonna be interesting:
View attachment 1881201
Archive

Unfortunately, there is already a Supreme Court precedent that Texas isn't allowed to stand up for the people of the country.

 

[Haramburger]

I think /biz/ might have more shills than /pol/ atm, damn impressive.

It was fun while it lasted

They're instantly recognizable from the culture differences, so the image posters with the proper folders can identify each other easily but it's definitely souring fast. Mainly because Reddit and Discord went full-stop on the community and Hiroshima's site doesn't require an account. As long as Elon doesn't tweet about the Farm's business board we're safe but he's probably got an account here already.

 

[spinal gas chamber]

Potentially, and not just for the meme value.

Spoiler: Not Financial Advice

From my limited understanding, BB and NOK are turnaround stories.

BB has licensed their brand to a Onward Mobilty, a Texas-based 5G device startup. BB also has a hardcore base of loyal users, including corporate and government agencies around the world, for whom the BB ecosystem is far more suitable than iOS or Android.

Even if BB captures just 1% of the global mobile device market (1.5 billion units in 2019), that's still 15 million units per annum. Definitely enough to be sustainable, assuming BB is happy to remain a niche player and not do anything stupid like try and be a third way for normies or blow money on other dumb shit that goes nowhere.

One concern is that BB currently isn't profitable, and isn't expected to become profitable for a couple more years. This may not be a big deal if BB carefully manages its expenditure, as they had nearly $1b of cash and equivalents on hand as at 30 November 2020.

This link may be helpful (it's from a stock screener that I use when evaluating long-term investments).

The above was written as a result of maybe 10 minutes of searching and reading on BB (I couldn't be arsed doing the same with NOK). Do your own research and don't invest more than you can afford to lose. Good luck!

I said this earlier in the thread but you’re missing the point. BlackBerry is now a cyber security company and not a mobility company. Been through ATL and noticed Cylance ads? That’s what BlackBerry is now.

 

[Fatrick Hamlinson]

It's very interesting what I just found out.

There are employees of Robinhood that worked for a hedge fund called Quantopian (some of these employees included the co-founders of Quantopian), which was partially owned by Steven Cohen, friend to Plotkin (owner of Melvin).

Additionally, back in 2020, Cohen was desperate to scrape data from Robinhood regarding retail investments after Robinhood hid their users' data from the general public.

In 2007, Plotkin also donated to Sen. Chris Dodd, who Cohen and S.A.C. donated over $250,000 to during a presidential election. Chris Dodd co-wrote the Dodd-Frank act which was supposed to clean up Wall Street after the 2008 housing crisis.

Hedge Funds and the Financial Journos Who Love Them

HEDGE FUNDS AND THE FINANCIAL JOURNOS WHO LOVE THEM Dedicated to my father, who, aside from being dead and with Trump being out of office, would find the whole thing terribly funny. Dedicated to my mother, who always supports me, even if she doesn’t get it. Dedicated to the spergs over at r/w...

docs.google.com

Edit: This is when I go as crazy as Charlie.

This is my Pepe Silvia moment.

 

[LUNEKO]

It's very interesting what I just found out.

There are employees of Robinhood that worked for a hedge fund called Quantopian (some of these employees included the co-founders of Quantopian), which was partially owned by Steven Cohen, friend to Plotkin (owner of Melvin).

Additionally, back in 2020, Cohen was desperate to scrap data from Robinhood regarding retail investments after Robinhood hid their users' data from the general public.

In 2007, Plotkin also donated to Sen. Chris Dodd, who Cohen and S.A.C. donated over $250,000 to during a presidential election. Chris Dodd co-wrote the Dodd-Frank act which was supposed to clean up Wall Street after the 2008 housing crisis.

Hedge Funds and the Financial Journos Who Love Them

HEDGE FUNDS AND THE FINANCIAL JOURNOS WHO LOVE THEM Dedicated to my father, who, aside from being dead and with Trump being out of office, would find the whole thing terribly funny. Dedicated to my mother, who always supports me, even if she doesn’t get it. Dedicated to the spergs over at r/w...

docs.google.com

George Carlin will be immortalized

 

[Lone MacReady]

That's because most Vanguard users are boring buy-and-hold investors who just put their extra money into index funds and forget about it. They are massive and well capitalized, so they don't have to worry about the extra volatility, unlike these Babby's First Brokerage toy apps that run lean and were barely meeting minimum capitalization requirements even before all this went down.

Can fucking confirm. My advisor was flipping her tits with concern when I sold shares to get "currency" (fake money) to buy Gold and Silver (real money). She seems to have no awareness of the economic storm we are in, how inflation is killing everyone, and how when the market crashes and the currency is debased away - our stonk's/bond's value will be going bye bye. I can't tell if she and others like her are being malicious, or if they were just propagandized to the same way I was in school and never got out.

 

[Harvey Danger]

This isn't the first time Robinhood has done this. Here's an example of them doing something like this before:

r/options - Robinhood identified this trade as "High Risk" and closed it automatically on my behalf, costing me $1500. Can anyone explain this to me?

205 votes and 132 comments so far on Reddit

www.reddit.com

And a surprisingly good Quora answer about why Robinhood is terrible for trading options:

Why is Robinhood terrible for trading options? - Quora

Yeah, but this is even more egregious. Executing a bad spread or edge cases for combo position logic is one thing, but the redditor didn't say he had another hedge position to make things murky. A clearly in-the-money call should never be sold out from under you if you're positioned to exercise it.

At least, they should allow you to opt out of that "protection". Maybe RH does have that setting, I don't use it so I don't know. But I suspect that would be the first response to these complaints.

 

[Pope Negro Joe the XIIIth]

Thus, what is of supreme importance in war is to attack the enemy's strategy.

~Sun Tzu

https://www.huffpost.com/entry/why-business-leaders-are-_0_n_5003283

Looks like you niggers should have actually read that shit instead of just putting it on a bookshelf to look well read.

 

[The Wicked Mitch]

Can fucking confirm. My advisor was flipping her tits with concern when I sold shares to get "currency" (fake money) to buy Gold and Silver (real money). She seems to have no awareness of the economic storm we are in, how inflation is killing everyone, and how when the market crashes and the currency is debased away - our stonk's/bond's value will be going bye bye. I can't tell if she and others like her are being malicious, or if they were just propagandized to the same way I was in school and never got out.

What your gold/silver ratio looking like?

 

[Prj4MW8iPT3vmFM2rzDc]

Imagine this is gonna happen in the future.

Son: Dad what was the gamestop rebellion?
Father: Well son, it all started in 2016 on May 28th...

 

[Iceland Heavy]

I've heard:
Antisemetic Plot, Financial Terrorism, Alt-Right Conspiracy, Foreign Influenced Market Manipulation, Capitol-Hill led financial coup, Anti-Feminist, Anti-Troon, and Anti-Black driven 'bad-faith' investors.
The foreign powers that MSM/Wall Street include are the Middle East and Russia.
You know who no one blames? EVER?
China.

Woah woah there, cool it with the anti-semitism

Ai ya! It's anudda century of humiliation!

 

[Blake Chortles]

Technically, Market Manipulation is how but clearly given what's happening right now that's not a fool proof plan. How can they hope to manage any community that decides that some company's stock is the hottest product on the market? The most they can do is throw away the whole "free market" idea and limit who can invest in stock.

And theyll have to somehow differentiate it from an analyst or short seller going on CNBC and saying “i like/hate the stock”

 

[gangweedfan]

in a few days everyone who is quitting RH will be on other apps and there will be a huge spike because of that

 

[Lord of the Large Pants]

RH is set to sell off all the gamestop stock on their app (illegally, but name a single judge that would convict with this many zeros involved) at 8:58 am. You know, 2 minutes before the plebs can trade.

If they do this, I don't think the anger will be limited to Minecraft this time.

 

[CEO of Pickles]

~Sun Tzu

https://www.huffpost.com/entry/why-business-leaders-are-_0_n_5003283

Looks like you niggers should have actually read that shit instead of just putting it on a bookshelf to look well read.

Don't let them have the clicks.

 

[Bongocat]

Can fucking confirm. My advisor was flipping her tits with concern when I sold shares to get "currency" (fake money) to buy Gold and Silver (real money). She seems to have no awareness of the economic storm we are in, how inflation is killing everyone, and how when the market crashes and the currency is debased away - our stonk's/bond's value will be going bye bye. I can't tell if she and others like her are being malicious, or if they were just propagandized to the same way I was in school and never got out.

well see we WERE headed for disaster until Biden was elected and Saved Democracy ™