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Redditors gave Wall Street traders an absolute pasting


monkeytassle said:
Bloomberg and reuters are news agencies.
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They are with economic editors...

You haven’t clarified which part is illegal or how or who the SEC has authority to pursue. Elon Musk tweeted about it yesterday which caused it to surge again, is he now part of the market manipulation?
 
MonkeyLove said:
They are with economic editors...

You haven’t clarified which part is illegal or how or who the SEC has authority to pursue. Elon Musk tweeted about it yesterday which caused it to surge again, is he now part of the market manipulation?
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You mean the same Elon musk who settled an sec charge in 2019?
 
Might sell all my stocks now this is becoming mainstream news and take the money.

I reckon there'll be a few mansions in the Hamptons going cheap that I can buy
 
CatRyan said:
Musk is bang up for this because Melvin Capital shorted Tesla a long time ago and bragged about it.
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He's a maverick and no mistake. Must admit he might be crude but what he's doing is amazing.
The Albanian said:
Might sell all my stocks now this is becoming mainstream news and take the money.

I reckon there'll be a few mansions in the Hamptons going cheap that I can buy
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Yeah.... Nah
 
monkeytassle said:
You mean the same Elon musk who settled an sec charge in 2019?
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Jim Cramer and CNBC spoke to a load of senior securities lawyers and the view is it’s very hard to distinguish this as market manipulation.

If Reddit is a coordinated group who contrived to manipulate the market by making false claims or publishing fake information those may well be guilty of manipulating the market. If they had claimed Gamestop were about to merge or similar, they didn’t.

Promoting a share or buy without making false claims is in no way illegal. Most of these Redditers were naive posters talking about the moon. The SEC or law won’t get involved in that as nothing illegal. They would also be limited in going after anyone but those who outright made fraudulent claims, so the vast majority of the 3 million who just bought effectively a share tip have done nothing illegal or collusive
 
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monkeytassle said:
He's a maverick and no mistake. Must admit he might be crude but what he's doing is amazing.
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I'm unsure whom it is you are referring to, I can not take an inch of Musk or hedgefund twats but he is capable of some wit now and again
nyron4england said:
can't beat the south fork pal. get in there while you can.
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I know the family who own South Fork, they're horse people... gave my cousin one of those motorised little cars for the elderly or really fat
 
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MonkeyLove said:
Jim Cramer and CNBC spoke to a load of senior securities lawyers and the view is it’s very hard to distinguish this as market manipulation.

If Reddit is a coordinated group who contrived to manipulate the market by making false claims or publishing fake information those may well be guilty of manipulating the market.

Promoting a share or buy without making false claims is in no way illegal. Most of these Redditers were naive posters talking about the moon. The SEC or law won’t get involved in that as nothing illegal. They would also be limited in going after anyone but those who outright made fraudulent claims, so the vast majority of the 3 million who just bought effectively a share tip have done nothing illegal or collusive
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Just imagine a couple of million people following a tip from one of Barron's advisors. The only difference is this tip was free and you'd have to pay for the benefit of their expertise.
 
MonkeyLove said:
Jim Cramer and CNBC spoke to a load of senior securities lawyers and the view is it’s very hard to distinguish this as market manipulation.

If Reddit is a coordinated group who contrived to manipulate the market by making false claims or publishing fake information those may well be guilty of manipulating the market. If they had claimed Gamestop were about to merge or similar, they didn’t.

Promoting a share or buy without making false claims is in no way illegal. Most of these Redditers were naive posters talking about the moon. The SEC or law won’t get involved in that as nothing illegal. They would also be limited in going after anyone but those who outright made fraudulent claims, so the vast majority of the 3 million who just bought effectively a share tip have done nothing illegal or collusive
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Do you mean Jim cramer the market manipulator?
 
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