Here was me hoping/thinking the FT forums would be less full of conspiracy theories than t212ās forum!
The simpler explanation than manipulation or stock lending issues (which t212 could massively profit from) is that their systems just fall over under pressure as happened yesterday massively (and has happened a fair bit on US market open for the last few weeks albeit only briefly and with much less impact).
And I may be in the minority here but I like the slower pace of FT as it gives me time to (re)consider my approach.
Not having an instant deposit means I think about what Iām doing, and am less inclined to trade than to research properly and invest with a long term view.
Thanks for taking time to respond!
I teach 18 year olds (remotely) and they kept posting the gme stock into Teams and saying stonks, had to tell them off (and to hold). This is everywhere!
Donāt you get it? Itās not about the money. Itās a statement. Anybody who invested money they couldnāt afford to lose is a maniac, the rest of us are revolutionists
More than one, and some of them are massive Hedge Funds - up there with the biggest in the world.
Then thereās the banks and the brokers when the hedge funds arenāt able to cover their short positions!
The fact that the hedge funds keep shorting GME over and over is shameful. Theyāre literally gambling with their clientsā, their brokersā and their banksā money.
Admittedly it has been a pretty bruising week for some of these hedge funds but it looks as though theyāll essentially just keep going as normal. I think if anything really comes out of this itāll be more regulations or transparency about shorting.
Although having said that, cutting off retail investors from certain stocks could have some more dramatic consequences for robinhood and other brokerages. But unless hedge funds were directly involved in that then I think theyāll be fairly unaffected long term.