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Redditors gave Wall Street traders an absolute pasting


Salem Street South said:
Could you explain how they’ve done this? Serious question.
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I think it means the Vampire Squids have rallied round to underwrite any losses when they eventually cough for the shares they promised to buy. In the meantime, they've been making more promises to buy shares in the expectation the current overpriced stock takes a dive.

I wouldn't put it past them jumping onto the Reddit to encourage the fever. No evidence of course, it was the reference to Reddit Mafia that put it into my head.
 
banburysafc said:
Let's face it you've only been on here to have a pop at him repeatedly, and have succeeded in ruining a pretty interesting thread. Well done.
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on and on and on.

there's others on this thread that admitted themselves that they know very little about the financial world but have still contributed far more to the thread than she has.
 
monkeytassle said:
My certificates say otherwise but you believe whatever makes your failed life happy. Did you ever get that door he kicked down fixed?
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i swear some people think you just wake up one day, walk into the office and suddenly become bernie madoff.
Cypher said:
I'm not dyslexic but does anyone else always look at the thread title and keeps on reading it as Radiators.
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is this code for buy Honeywell? ;)
 
r@mside said:
I think it means the Vampire Squids have rallied round to underwrite any losses when they eventually cough for the shares they promised to buy. In the meantime, they've been making more promises to buy shares in the expectation the current overpriced stock takes a dive.

I wouldn't put it past them jumping onto the Reddit to encourage the fever. No evidence of course, it was the reference to Reddit Mafia that put it into my head.
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Cheers. Vampire Squids? What’s that?
I’m presuming they’ve been bailed out and shorted the stock again. Just wondering the mechanics of that, if it’s not too technical.
 
Salem Street South said:
Cheers. Vampire Squids? What’s that?
I’m presuming they’ve been bailed out and shorted the stock again. Just wondering the mechanics of that, if it’s not too technical.
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It's a reference to goldman sachs and a caricature that appeared a few years ago. Rolling stone published it.
Salem Street South said:
Cheers. Vampire Squids? What’s that?
I’m presuming they’ve been bailed out and shorted the stock again. Just wondering the mechanics of that, if it’s not too technical.
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No hedge funds have been bailed out mate. I'm pretty bored of saying this. If anything hedge funds that have lost their trousers have been taken to the cleaners by the people they owe money to. There's a very good book called when genius failed about à fund called long term capital management. Worth a read.
 
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Salem Street South said:
The bit in bold mate. I (just about) get what’s going on but I’m curious how the funds have/are going about turning it back in their favour?
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How I understand it

HF had shorted the stocks initially, stocks then went up to 471 from around 20 dollars a share On the backs of the reddit brigade and retail investors. Every time it went up the HFs had to cover the short by buying back in to help bring down or loaning extra shares from which ever broker had surplus. the easiest way to pay back the interest owed on the loaned or shorted stocks is to buy back in for the extra shares loaned and to repeatedly short it more and more at various prices and watch it spiral back down thusfore collecting the profit or try to limit loses whilst repaying the shares quantities back. At the moment it’s around 125%.

Im not a share guy these days, but it’s how I understood it back in the day, damage limitation exexcise.
 
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nyron4england said:
what?
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What Is Manipulation?
Market manipulation is the act of artificially inflating or deflating the price of a security or otherwise influencing the behavior of the market for personal gain. Manipulation is illegal in most cases, but it can be difficult for regulators and other authorities to detect, such as with omnibus accounts.

Manipulation is also difficult for the manipulator as the size and number of participants in a market increases. It is much easier to manipulate the share price of smaller companies such as penny stocks because analysts and other market participants do not watch them as closely as the medium and large-cap firms. Manipulation is variously called price manipulation, stock manipulation, and market manipulation.
 
Cypher said:
What Is Manipulation?
Market manipulation is the act of artificially inflating or deflating the price of a security or otherwise influencing the behavior of the market for personal gain. Manipulation is illegal in most cases, but it can be difficult for regulators and other authorities to detect, such as with omnibus accounts.

Manipulation is also difficult for the manipulator as the size and number of participants in a market increases. It is much easier to manipulate the share price of smaller companies such as penny stocks because analysts and other market participants do not watch them as closely as the medium and large-cap firms. Manipulation is variously called price manipulation, stock manipulation, and market manipulation.
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Difference between manipulation and advising someone to buy shares mind
 
Salem Street South said:
Cheers. Vampire Squids? What’s that?
I’m presuming they’ve been bailed out and shorted the stock again. Just wondering the mechanics of that, if it’s not too technical.
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It's a nickname for the dodgy firms in high finance, coined after the US repossession scandal post-2008 crash.

Basically, a short seller takes a gamble on the share price falling. Borrowing the shares and selling at today's price with the promise to buy them back at some point in the future.
 
monkeytassle said:
It's a reference to goldman sachs and a caricature that appeared a few years ago. Rolling stone published it.

No hedge funds have been bailed out mate. I'm pretty bored of saying this. If anything hedge funds that have lost their trousers have been taken to the cleaners by the people they owe money to. There's a very good book called when genius failed about à fund called long term capital management. Worth a read.
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I always find the Enron documentary film a very good watch!
 
BigPeter said:
Difference between manipulation and advising someone to buy shares mind
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What is the literal difference? If I advise you to buy shares in something how don't you know that the I own the company and it's essentially worthless. Obviously I wouldn't do that but Redditors might.
 
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