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ditto this. And the motivation for organizing "buy gamestop" isn't altruistic as it seems.. 1. buy gamestop stocks 2. call in SJWs to 'fight against the bad g

ditto this. And the motivation for organizing "buy gamestop" isn't altruistic as it seems.. 1. buy gamestop stocks 2. call in SJWs to 'fight against the bad guys (hedge funds)' by buying gamestop stocks - they relay this message to others 3. watch price go up, thanks to campaigns from SJWs 4. sell off when the price is right (feels highest) 5. watch the price go back to normal valuation - you can't expect this high price to continue forever. 6. watch people who were fooled by SJWs cry over their lifesavings this is a financial crime, though the victims fell for a temporary 'feel good' moment... so I guess they 'paid' their lesson? as for Robinhood, blocking 'buy' seems to be a protective measure that backfired too much. Robinhood's branding depends on how it can explain this well... edit: I agree that it's not a 'financial crime' by law... I just mean it's a detestable and almost 'criminal' campaign.

elwell 6y ago
> this is a financial crime How so? I may be ignorant, but isn't that just the way the stock market works. Sad, yes. Crime though?
- high_density 6y ago
  well depends on the law though... but this time, there's no 'fradulent' element, so I guess no. If there were promises of earnings, it might have been.
- syrgian 6y ago
  Pump and dump is fraud. https://en.wikipedia.org/wiki/Pump_and_dump https://en.wikipedia.org/wiki/Pump_and_dump But the effort was distributed and hard to track and prove, so the scammers that knew what they were doing are most likely safe.
  - high_density 6y ago
    yes agreed. it's not crime by law... but it's like using uncovered parts of the law to swindle people. Though it'll be really difficult to make a law preventing this without hurting beneficial actions.
  - TheHypnotist 6y ago
    Except there is a difference between a pump and dump and a short squeeze. No one is listening to the fundamentals, it doesn't matter. I think you'd be hard pressed to make that argument on either side.
nxc18 6y ago
Watching this whole saga from the sideline (no investments aside from 401k, which I don’t look at), it has been really disappointing to watch everyone acting like lemmings. These aren’t particularly difficult patterns to spot, but I guess people love running with a narrative. Maybe next time people can keep their pants on and maybe keep a level head?
- high_density 6y ago
  on the side note, this makes an excellent youtube material... there's a Korean investment channel that explains how people were gullible, and it's really funny to hear the fiascos... ...but not when I'm the gullible that is!
slg 6y ago
It is extremely weird to define the people buying GME as SJWs.
- high_density 6y ago
  well they might not be the SJWs, but the gullible ones fooled by SJWs. the whole premise of the campaign is to 'fight against the injust hedge funds' (by burning your own money, that is)
  - slg 6y ago
    WSB was heavily pushing the "fight against the injust hedge funds" narrative and the way that community speaks is a pretty big indication that they don't normally align themselves with SJWs.
    - high_density 6y ago
      sorry I thought Social Justice Warrior is a term for 'people who rally to do good for the society but are just a bunch of fools'
      - slg 6y ago
        I guess that is how the term is defined by people who dislike them, but I think the core motivation is social progressivism and generally left leaning politics. SJWs are unlikely to favorably compare themselves to 4chan or use the n-word and r-word. I don't think the heart of WSB is particularly political, but it certainly gives off vibes that are closer to the alt-right than SJWs.
        high_density 6y ago
        ok, I didn't know it's left or right term... wtf the word seems to be like 'feel-good-fool' but seems there's more to it
        6y ago
NoOneNew 6y ago
Your argument is already questionable since you imagine a subred that makes retard/dick/cuck jokes has any SJWs in it. I just find it amazing how so few people actually go on WSB, but have a garbage pail of opinions. Seriously, less then 5 min on WSB shows how incredibly wrong the media has been regarding that community or their motives. Mark Cuban, Kevin Oleary and a few others are backing what wsb are saying due to the exposure they generated of how manipulated the stock market is. This isnt, "this is the mob ruining the market". This is, "oh boo hoo did the wrong people manipulate the stock market and it hurt the hedge funds?" There will be regulations on this. The trick is to regulate the market so the average schmuck can have a more level playing field instead of the cards stacked in the hedge funds favor.
- high_density 6y ago
  I'm sorry, but you seems to be void of any refutation of my logic. you iterated some famous people who are supportive of WSB, but... so what? Are they 'the wise ones of the stock market'? Are they financially supporting financial damage-takers? They're just famous people, and that's all. I agree that making a more level playing field is good. But that should be done by congress and law makers, not by burning gullible people's money.
  - NoOneNew 6y ago
    Except for the fact that lawmakers had zero reason to crack down on it. Only the wise and specially educated could comprehend how any of the market works. The poors are incapable of understanding charts and positions because it's so difficult. Only us in the ivory tower can keep the market stable and understand what companies actually deserve investment. Part 2, again, you've never been on WSB for even 1 minute. At every part of this venture, everyone says this is a terrible profit venture. Everyone on wsb shows off their losses and calls it "loss porn". The only gullible folks are the ones listening to the media. Namely CNBC. Theyre the ones pushing the profit narrative, not wsb. This was more to screw over predatory short sellers and to help a few struggling companies people like. AMC for example, got to leverage their boost in stocks to have a fighting chance to survive through 2021. Effectively holding off bankruptcy for now. Gamestop is now able to position themselves to fight through the next few years.

elwell 6y ago

> this is a financial crime How so? I may be ignorant, but isn't that just the way the stock market works. Sad, yes. Crime though?

high_density 6y ago
well depends on the law though... but this time, there's no 'fradulent' element, so I guess no. If there were promises of earnings, it might have been.
syrgian 6y ago
Pump and dump is fraud. https://en.wikipedia.org/wiki/Pump_and_dump https://en.wikipedia.org/wiki/Pump_and_dump But the effort was distributed and hard to track and prove, so the scammers that knew what they were doing are most likely safe.
- high_density 6y ago
  yes agreed. it's not crime by law... but it's like using uncovered parts of the law to swindle people. Though it'll be really difficult to make a law preventing this without hurting beneficial actions.
- TheHypnotist 6y ago
  Except there is a difference between a pump and dump and a short squeeze. No one is listening to the fundamentals, it doesn't matter. I think you'd be hard pressed to make that argument on either side.

nxc18 6y ago

Watching this whole saga from the sideline (no investments aside from 401k, which I don’t look at), it has been really disappointing to watch everyone acting like lemmings. These aren’t particularly difficult patterns to spot, but I guess people love running with a narrative. Maybe next time people can keep their pants on and maybe keep a level head?

high_density 6y ago
on the side note, this makes an excellent youtube material... there's a Korean investment channel that explains how people were gullible, and it's really funny to hear the fiascos... ...but not when I'm the gullible that is!

slg 6y ago

It is extremely weird to define the people buying GME as SJWs.

high_density 6y ago
well they might not be the SJWs, but the gullible ones fooled by SJWs. the whole premise of the campaign is to 'fight against the injust hedge funds' (by burning your own money, that is)
- slg 6y ago
  WSB was heavily pushing the "fight against the injust hedge funds" narrative and the way that community speaks is a pretty big indication that they don't normally align themselves with SJWs.
  - high_density 6y ago
    sorry I thought Social Justice Warrior is a term for 'people who rally to do good for the society but are just a bunch of fools'
    - slg 6y ago
      I guess that is how the term is defined by people who dislike them, but I think the core motivation is social progressivism and generally left leaning politics. SJWs are unlikely to favorably compare themselves to 4chan or use the n-word and r-word. I don't think the heart of WSB is particularly political, but it certainly gives off vibes that are closer to the alt-right than SJWs.
      - high_density 6y ago
        ok, I didn't know it's left or right term... wtf the word seems to be like 'feel-good-fool' but seems there's more to it
        6y ago

NoOneNew 6y ago

Your argument is already questionable since you imagine a subred that makes retard/dick/cuck jokes has any SJWs in it. I just find it amazing how so few people actually go on WSB, but have a garbage pail of opinions. Seriously, less then 5 min on WSB shows how incredibly wrong the media has been regarding that community or their motives. Mark Cuban, Kevin Oleary and a few others are backing what wsb are saying due to the exposure they generated of how manipulated the stock market is. This isnt, "this is the mob ruining the market". This is, "oh boo hoo did the wrong people manipulate the stock market and it hurt the hedge funds?" There will be regulations on this. The trick is to regulate the market so the average schmuck can have a more level playing field instead of the cards stacked in the hedge funds favor.

high_density 6y ago
I'm sorry, but you seems to be void of any refutation of my logic. you iterated some famous people who are supportive of WSB, but... so what? Are they 'the wise ones of the stock market'? Are they financially supporting financial damage-takers? They're just famous people, and that's all. I agree that making a more level playing field is good. But that should be done by congress and law makers, not by burning gullible people's money.
- NoOneNew 6y ago
  Except for the fact that lawmakers had zero reason to crack down on it. Only the wise and specially educated could comprehend how any of the market works. The poors are incapable of understanding charts and positions because it's so difficult. Only us in the ivory tower can keep the market stable and understand what companies actually deserve investment. Part 2, again, you've never been on WSB for even 1 minute. At every part of this venture, everyone says this is a terrible profit venture. Everyone on wsb shows off their losses and calls it "loss porn". The only gullible folks are the ones listening to the media. Namely CNBC. Theyre the ones pushing the profit narrative, not wsb. This was more to screw over predatory short sellers and to help a few struggling companies people like. AMC for example, got to leverage their boost in stocks to have a fighting chance to survive through 2021. Effectively holding off bankruptcy for now. Gamestop is now able to position themselves to fight through the next few years.