All of the billionaires are punching the air right now and I don't feel bad for them. I'm sure they are all living a hard life right now while they are cruising down the coast of Santa Monica on their yachts....
It looks like Robinhood is now blocking users from purchasing GameStop stock.
Remember. Market manipulation is only legal when billionaires do it....
Yeah, I think a couple of lawsuits are being filed against Robinhood and other brokerages that blocked the buying of shares for users while hedge funds could continue as normal (driving the price down to offset losses). Think two hedge funds are on the verge of bankruptcy? At least one I've read has taken a loan from Blackrock.
The rich: wHy DoN't ThE pOoR jUsT iNvEsT?!?!
The poor: Ok
The rich: ...
The poor: ...
The rich: ...wait not like that
This is the most entertaining game of chicken. Props to the Reddit user whose been buying Gamestop since 2019 BTW. I hear their investment turned from $50k to $50m, and they've taken $10m in profit. They're basically the face of WSB at this point.
Maybe next time they'll think about borrowing more shares than there are in circulation. Or shorting in general. Will be interesting to see how the White House 'who is monitoring the situation', responds to this.
The real eye opener are the people on Reddit who don't really care about making a profit, or it's not the primary concern. No, they just want to see wealth distributed more evenly...and they wanna burn the hedge funds to the ground.
---
Just remember folks, if you're looking to invest, then remember these three simple things.
1) Stonks always go to the moon
2) In Musk we trust
3) Buy high, sell low
Disclaimer: Not a financial advisor. Seek proper guidance and do your own research/learning before investing.