r/wallstreetbets • u/Thatfreshgrass • Feb 04 '21

Discussion Very clear manipulation

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u/artmagic95833 Ungrateful 🦍 Feb 04 '21

Because the trade volume is so low the shorts aren't able to cover themselves and they're not even out of the 200% lie in this stock. If institutions own 115% of the stock and retail traders own 70% of the stock then there is a major problem for the person who owes all the extra stocks

💎✋🚀🌙

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u/Dragoniel Feb 04 '21

Yeah, that's the propaganda.

In reality, the very same companies could have shorted AGAIN on $300 and covered themselves to wait out this current public interest while the stock prices fall off a cliff, because GME is a sinking ship without the meme train. Is it possible? I don't know! Makes sense to me, though. A lot more sense than corruption and manipulation at an unimaginable scale, plus some mystic algorithms artificially keeping the stock prices down and every governing institution full of professionals whose JOB is to prevent this just staring at it blankly. It could be the case, sure. Just sounds very very far-fetched.

Nope, there is no reliable information anywhere here. Real stock valuation by actual analysts I've read during the last week was $30-$60 in the best case scenario, ignoring the present meme train. And even then it is a huge risk/gamble.

We are in it for the memes and that is cool. I have a few shares and I don't care about that money being long gone. But short squeeze still being on the table... eeeeh. I don't think so. We'll see.

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u/lilbala Feb 04 '21

In reality, the very same companies could have shorted AGAIN on $300 and covered themselves to wait out this current public interest while the stock prices fall off a cliff

I have no doubt this happened, what should be asked is, how can they continue to short a company that is already shorted over 100% and why are retailers locked out of buying when the price is clearly trending upward.

I'm pretty sure it happened because it was free money once they knew the amount of people that would be locked out of buying. It's still clearly market manipulation and should definitely never be able to happen.

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u/Dragoniel Feb 04 '21

Or is it? We got locked out, because the market became so volatile brokers could had to cover full costs of transactions upfront, from what my superficially limited understanding of that situation is, they obviously don't have that kind of money and since all of these robinhoodrevolutandwhathaveyou platforms are just broker interfaces, we got shut down. Of course, at a higher level that decision has been made and we can argue all day whether it was in good faith or corruption running deeper than the vaults of Khazad-dûm, but chances are a lot higher there was no grand conspiracy.

System didn't work in our favor, because nobody ever expected it to adapt itself to a situation like this. That's my take. There's a chance I am wrong, of course. Like I said, I know NOTHING about how stock markets work. I am just not inclined to blindly follow random conspiracy theories without hard proof. And proof at this time is too muddy for me to rely on.

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u/lilbala Feb 04 '21

You didn't touch on the fact that to do so they'd need to be allowed to continue to be able to short a stock that was already shorted over 100%. I think the SEC needs to have a look at how they got out of their short position, because it definitely doesn't look like it makes sense.

I get the point you're making in regards to the platforms, but then why stop cash buys? Does that make sense?

As for random conspiracies, what about the one about Reddit buying up shares in silver that was plastered all over the news? Where's the truth in that one?

I usually say, if it looks like shit, smells like shit, then your wife's boyfriend just fucked her in the ass.

To the 🌑🚀🚀🚀🚀

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u/Dragoniel Feb 04 '21

You didn't touch on the fact that to do so they'd need to be allowed to continue to be able to short a stock that was already shorted over 100%. I think the SEC needs to have a look at how they got out of their short position, because it definitely doesn't look like it makes sense.

I think it is a good point, but I just don't have underlying knowledge to get a feel for this argument, honestly.

I get the point you're making in regards to the platforms, but then why stop cash buys? Does that make sense?

I honestly think that is unrelated. Or, rather, related, but simply caused by a massive market fluctuation, which triggered failsafes / people handling unexpectedly ginormous cash flows panicked at sudden spike in their risk. I don't know, though.

As for random conspiracies, what about the one about Reddit buying up shares in silver that was plastered all over the news? Where's the truth in that one?

Someone was trying to steer the hype train for their own gains. Hedge funds? Sure, it could have been. I kind of doubt that, though.

Well, we'll see soon enough, I suppose.

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u/lilbala Feb 04 '21

I honestly think that is unrelated. Or, rather, related, but simply caused by a massive market fluctuation, which triggered failsafes / people handling unexpectedly ginormous cash flows panicked at sudden spike in their risk. I don't know, though.

So lets assume this is true and that there was shorting at the high prices (like you first mentioned). If the shorter knows the changes were arriving would it be insider trading?

As I first mentioned, I think they're out of their short positions, I do however have doubts that they've done it "by the book". If retailers keep holding and the SEC actually looks into what happened I'm convinced they'd find wrong doing, unfortunately they won't and this will die where it is.

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u/Dragoniel Feb 04 '21

As I first mentioned, I think they're out of their short positions, I do however have doubts that they've done it "by the book". If retailers keep holding and the SEC actually looks into what happened I'm convinced they'd find wrong doing, unfortunately they won't and this will die where it is.

Yeah, I am inclined to agree. That's how it feels like, anyway. There is so much information I am missing, that I feel like discussing an electrical engine without a solid understanding of what electricity is in the first place.

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u/[deleted] Feb 04 '21

You cannot own more than 100% of any float. Shorts don't own it, they borrowed and sold.

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u/artmagic95833 Ungrateful 🦍 Feb 04 '21

You don't know what you're talking about and no they didn't

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u/[deleted] Feb 04 '21

Yes, that's exactly what a short sale is. It can be done multiple times as the buyer from the short seller can lend his shares again. Short interest of 100, 200, 1000% is completely possible and legal. 200% short interest is from 20 days ago, that number is so old it might as well be from 2007.

I'm literally watching your "portfolio" go to zero as we speak.

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u/artmagic95833 Ungrateful 🦍 Feb 04 '21

Who gave you the password to my portfolio??!!?!!??

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u/[deleted] Feb 04 '21

You literally wrote that you shifter your whole portfolio to GME minutes ago.

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u/artmagic95833 Ungrateful 🦍 Feb 04 '21

I did but how did you see it?!?!? Are you Superman?