Kinda pathetic that there's action taken against people manipulating the market.... when that is exactly what hedge funds are set up to do... the thing people are doing right now is exactly what hedge fund managers do, also if you hear on the news how awful it is because the action taken against the hedge fund bet on gamestop has cost a hedge fund over a billion dollars....

From wiki "Hedge funds have existed for many decades, and have become increasingly popular. They have now grown to be a substantial fraction of the asset management industry,^[6] with assets totaling around $3.2 trillion as of 2018.^[7] Some hedge fund managers had several billion dollars of assets under management (AUM). "

3.2trillion.... or $3,200,000,000,000, do you know what $3.2 Trillion rounds down to when you take off up to $50billion? It takes it all the way down to $3.2 Trillion, aye.... it's literally nothing.

Yep, thats why I really dont care.

Also the same hedge fund owners then go to media to tell people exactly otherwise of what they are doing. With the help, on purpose, by the media.

What is happening right now is history. 140% of the stock... unbeliavable

Yes - 140% of shares shorted.  That's a bet Wallstreet is making against people buying the shares.  The more Redditors buy, the more Wallstreet will short against those purchases.

There is a misunderstanding that shorters need to deliver shares on a particular expiry and that's the end of the story.  They can also roll the short to a later expiry date if they think that the long term prospect is unchanged.  It just means the time period of the investment is longer (and hence costs a bit more money)

If you can't see that 140% is more shares than really exist, then you should avoid getting into this.  The more people buy at ridiculous prices, the more those purchasers will be paired with the short sellers - hence my description of "buying imaginary shares".

The moment the share price goes back to the long term "target level" is when you need to look at who has made or lost money.  All that is currently happening is that short sellers are delaying their exit plans (although that in itself wastes a bit of their money).  They will likely stick with their long term valuation and just ride this out.

So basically, I think the shorter are going to win this one.  (although that is not financial advice obvs)

The stock peaked at $469.42 at 10am this morning and has since then been in steep decline to $126.01.  

And... it's back over $300 nearing yesterday's close price. The decline today was much deeper than any of yesterday's dips, but I guess Reddit's not done yet, lol.

Wallstreetbets got kicked from Discord now over this

Looks like the two most significant new offensives were made on Nokia and Black Berry, I was in a bit, but also there many accounts were restricted, allowing the hedge funds to more quietly organize themself for counter offensive with smart moves to discourage the small people.

Multiple trading platforms have shutdown the ability to buy any of the stocks associated with WallStreetBets.  Robinhood blocked all of these:

$AAL, $AMC, $BB, $BBBY, $CTRM, $EXPR, $GME, $KOSS, $NAKD, $NOK, $SNDL, $TR, and $TRVG

Now you can only sell these, and can't buy.

It is blatant market manipulation in my opinion.  They have already been sued over it too.  Things are moving very fast.

BREAKING: Class action complaint against @RobinhoodApp filed in the southern district of NYhttps://t.co/DuGP3LIQDQ pic.twitter.com/mw82RRoA2L

— Lydia Moynihan (@LJMoynihan) January 28, 2021

Additionally shady because Robinhood has a business relationship with Citadel, who just bailed out Melvin to try and save them from their risky short position on GME.

Mark, @RobinhoodApp is in bed with Citadel which just pumped 2.75 bil into Melvin Cap. https://t.co/eGwfdoqm3B

— thedealerkuo (@thedealerkuo) January 28, 2021

A lot of other traders are working normally, I can still buy it on eToro. This is 100% market manipulation but probably nothing will happen of course. There will probably be a mass suit against them but in the end the most likely end will be that courts will say this was market manipulation from reddit users and the brokers acted in the behalf of the population in general.

We already got censorship on discord and some people are trying to attach anti Semitism and alt right and trump with the movement, I see a lot of chance the subreddit will be taken down at some point. Im curious to see how this will be remembered a few weeks/months down the road.

Just be aware that you may lose your money. Never invest more than you would be fine with losing.