How is stock shorting even legal? You’re selling shit that you don’t actually have. If that isn’t some billionaire bullshit then I don’t know what is.

I started use Chase today, which is nice since they can immediately confirm I have the money and didn’t halt anything yesterday, but they don’t have a sexy app like Robinhood. I think I’ll use RH for browsing but never gonna put another dollar into after what they pulled yesterday. Just have to wait for what I own to hit a year so I don’t get hit with that capital gains.

Overall was down 1000+ today (mostly on Tesla) but I’ll happily take those losses if it means the hedges are losing billions.

I don't really have a problem with any of the actions of the redditors, Wall Street or Robin Hood. The redditors were doing it legally, Wall Street knew the risk of heavily shorted companies like Gamestop and AMC when they invested and if they don't have enough breathing room to wait this out that's their problem. The price for RobinHood should be that they just messed up their brand, a lot of people are going to use their competitors instead. The negative consequences would be if the government picks sides which is probably what they're going to do.

China, again?

Anyway... I honestly see this chaos being potentially healthy. It may be creating problems right now, and they may escalate for awhile. But as long as no major players are found to be behind this (simply resulting in some fines, penalties or what have you), and it's just regular folk banding together to take on Wall Street, then once the hearings, trials, and investigations play out, it's going to cause (hopefully) a dramatic change in how the market works from being a manipulative one to a more "free" one.

Robinhood was playing the manipulation game all day. After allowing their customers to trade on the targeted stocks again at open this morning, every few hours (typically when the prices would start to climb) they'd further limit the number of shares people could buy. It ended with only "allowing" people to buy 1 (ONE) share of GME after only allowing just 5 to begin with at open, 10 I think for AME, 50 (it was limited to 750 at open) of NAKD, etc..

Free and fair trade vs free and fair election.

Wall Street shorting more than 100% of GameStop = tabulation of ballots that were illegally included
Retailer traders disrupting Wall Street = January 6 protestors disrupting Washington
Robin Hood preventing purchases = big tech censorship

How is stock shorting even legal? You’re selling shit that you don’t actually have. If that isn’t some billionaire bullshit then I don’t know what is.

China, again?

Anyway... I honestly see this chaos being potentially healthy. It may be creating problems right now, and they may escalate for awhile. But as long as no major players are found to be behind this (simply resulting in some fines, penalties or what have you), and it's just regular folk banding together to take on Wall Street, then once the hearings, trials, and investigations play out, it's going to cause (hopefully) a dramatic change in how the market works from being a manipulative one to a more "free" one.

Robinhood was playing the manipulation game all day. After allowing their customers to trade on the targeted stocks again at open this morning, every few hours (typically when the prices would start to climb) they'd further limit the number of shares people could buy. It ended with only "allowing" people to buy 1 (ONE) share of GME after only allowing just 5 to begin with at open, 10 I think for AME, 50 (it was limited to 750 at open) of NAKD, etc..

I think you can transfer everything or partial from Robinhood to Chase without needing to do any selling/capital gains, though there is a $75 transfer charge from RH which I’m not sure if Chase would help you pay off (like some other brokers, which I just scheduled the transfer to from RH today
). I think there is a high chance Robinhood goes out of business, and I’m not too sure how it works with SIPC if you’ll get your stocks or specific day cash value back and how delayed it would be, or if SIPC will even still be around.

I’d rather TSLA be up instead and market be stable, and it kind of frightens me to realize TSLA growing so much so ridiculously fast was also heavily contributed by this same short squeeze (when they were formerly the most shorted stock), maybe moreso than other business factors.

I think you can transfer everything or partial from Robinhood to Chase without needing to do any selling/capital gains, though there is a $75 transfer charge from RH which I’m not sure if Chase would help you pay off (like some other brokers, which I just scheduled the transfer to from RH today
). I think there is a high chance Robinhood goes out of business, and I’m not too sure how it works with SIPC if you’ll get your stocks or specific day cash value back and how delayed it would be, or if SIPC will even still be around.

I’d rather TSLA be up instead and market be stable, and it kind of frightens me to realize TSLA growing so much so ridiculously fast was also heavily contributed by this same short squeeze (when they were formerly the most shorted stock), maybe moreso than other business factors.

Anyone want to make sense of what’s going on with silver?

I'm all for them boosting silver. Not going to put any money into myself, but the husband has collected all manners of silver his entire life, from coins to dish trays that somehow end up in thrift stores somewhat often.

I don't even know how many silver quarters he has. It must be in the hundreds for certain though since a surprising number of people don't know that quarters dated 1964 or earlier are silver and pay with them, so he's exchanged them out at his jobs over the years. And he still goes to the bank to buy rolls of quarters at the bank(s) to find more silver ones (we've even gotten full rolls of silver quarters in the past), and he just switches them out with regular quarters and deposits those back.

One silver quarter is now valued at $5.23 due to this spike (~$29 for five or an ounce).

I had 100+ shares of GME that I sold back in September for $7.70 ... Not sure I’ll ever forgive myself for that.