Main Street takes on Wall Street

[Nom De Plume]

https://www.abc.net.au/news/2021-01-30/ ... t/13103690

Rather surprised that the biggest news story in town is yet to grace this forum.

[sprintcyclist]

this ...... financial manoeuvering has happened for 100 years

[Nom De Plume]

https://edition.cnn.com/2021/01/28/inve ... index.html

New York (CNN Business)A Robinhood customer filed a class-action lawsuit against the stock-trading app Thursday after the company barred traders from buying shares of GameStop promoted by WallStreetBets, a popular Reddit group for investors.

The lawsuit, filed in the Southern District of New York, claims that Robinhood's actions rigged the market against its customers.
"Robinhood's actions were done purposefully and knowingly to manipulate the market for the benefit of people and financial institutions who were not Robinhood's customers," the lawsuit states.
Robinhood did not respond to a request for comment. The company imposed the stock-trading restrictions Thursday citing "recent volatility." The company said in a blog post it will only allow users to close out their positions in those stocks, which include GameStop (GME), AMC (AMC), Bed Bath & Beyond (BBBY), and Nokia (NOK).
Following the decision Thursday, shares of GameStop fluctuated wildly.

[sprintcyclist]

https://edition.cnn.com/2021/01/28/inve ... index.html

New York (CNN Business)A Robinhood customer filed a class-action lawsuit against the stock-trading app Thursday after the company barred traders from buying shares of GameStop promoted by WallStreetBets, a popular Reddit group for investors.

The lawsuit, filed in the Southern District of New York, claims that Robinhood's actions rigged the market against its customers.
"Robinhood's actions were done purposefully and knowingly to manipulate the market for the benefit of people and financial institutions who were not Robinhood's customers," the lawsuit states.
Robinhood did not respond to a request for comment. The company imposed the stock-trading restrictions Thursday citing "recent volatility." The company said in a blog post it will only allow users to close out their positions in those stocks, which include GameStop (GME), AMC (AMC), Bed Bath & Beyond (BBBY), and Nokia (NOK).
Following the decision Thursday, shares of GameStop fluctuated wildly.

reading between the lines I am guessing this .............

........... someone lost a lot of money while using the Robinhood app. Now he/she wants to prove it was someone elses fault..

[Texan]

Everyday folks are learning to game the stock market like the billionaires have been doing for decades. The billionaires don't like losing, so they are shutting down the apps and using the media to demonize them as some kind of criminal. These people are doing nothing illegal and nothing the billionaires haven't been doing their whole lives.

[Nom De Plume]

https://edition.cnn.com/2021/01/28/inve ... index.html

New York (CNN Business)A Robinhood customer filed a class-action lawsuit against the stock-trading app Thursday after the company barred traders from buying shares of GameStop promoted by WallStreetBets, a popular Reddit group for investors.

The lawsuit, filed in the Southern District of New York, claims that Robinhood's actions rigged the market against its customers.
"Robinhood's actions were done purposefully and knowingly to manipulate the market for the benefit of people and financial institutions who were not Robinhood's customers," the lawsuit states.
Robinhood did not respond to a request for comment. The company imposed the stock-trading restrictions Thursday citing "recent volatility." The company said in a blog post it will only allow users to close out their positions in those stocks, which include GameStop (GME), AMC (AMC), Bed Bath & Beyond (BBBY), and Nokia (NOK).
Following the decision Thursday, shares of GameStop fluctuated wildly.

reading between the lines I am guessing this .............

........... someone lost a lot of money while using the Robinhood app. Now he/she wants to prove it was someone elses fault..

The recent activity involving GameStop shares culminated in the assets of one short seller, a hedge fund named Melvin Capital, losing 30% of its value in January alone. Melvin now faces a $2.8bn bailout.

https://www.bing.com/search?q=hedge+fun ... 01&PC=U531

But that's OK because fellow Hedge funds have bailed them out...

(Bloomberg) -- Hedge fund titans Ken Griffin and Steve Cohen boosted Gabe Plotkin’s Melvin Capital, injecting a total of $2.75 billion into the firm after it lost about 30% this year.

Citadel funds and firm partners will invest $2 billion, while Point72 Asset Management’s investment will be $750 million, the firms said Monday. In return, the investors will get a non-controlling revenue share in the six-year-old hedge fund. Melvin Capital may receive an additional $1 billion infusion from other investors on Feb. 1, according to a person familiar with the plans.
https://finance.yahoo.com/news/citadel- ... 09666.html

[Nom De Plume]

Everyday folks are learning to game the stock market like the billionaires have been doing for decades. The billionaires don't like losing, so they are shutting down the apps and using the media to demonize them as some kind of criminal. These people are doing nothing illegal and nothing the billionaires haven't been doing their whole lives.

Hedge funds have been shorting silver too, but peeps at reddit are on to it....

[sprintcyclist]

https://edition.cnn.com/2021/01/28/inve ... index.html

New York (CNN Business)A Robinhood customer filed a class-action lawsuit against the stock-trading app Thursday after the company barred traders from buying shares of GameStop promoted by WallStreetBets, a popular Reddit group for investors.

The lawsuit, filed in the Southern District of New York, claims that Robinhood's actions rigged the market against its customers.
"Robinhood's actions were done purposefully and knowingly to manipulate the market for the benefit of people and financial institutions who were not Robinhood's customers," the lawsuit states.
Robinhood did not respond to a request for comment. The company imposed the stock-trading restrictions Thursday citing "recent volatility." The company said in a blog post it will only allow users to close out their positions in those stocks, which include GameStop (GME), AMC (AMC), Bed Bath & Beyond (BBBY), and Nokia (NOK).
Following the decision Thursday, shares of GameStop fluctuated wildly.

reading between the lines I am guessing this .............

........... someone lost a lot of money while using the Robinhood app. Now he/she wants to prove it was someone elses fault..

The recent activity involving GameStop shares culminated in the assets of one short seller, a hedge fund named Melvin Capital, losing 30% of its value in January alone. Melvin now faces a $2.8bn bailout.

https://www.bing.com/search?q=hedge+fun ... 01&PC=U531

But that's OK because fellow Hedge funds have bailed them out...

(Bloomberg) -- Hedge fund titans Ken Griffin and Steve Cohen boosted Gabe Plotkin’s Melvin Capital, injecting a total of $2.75 billion into the firm after it lost about 30% this year.

Citadel funds and firm partners will invest $2 billion, while Point72 Asset Management’s investment will be $750 million, the firms said Monday. In return, the investors will get a non-controlling revenue share in the six-year-old hedge fund. Melvin Capital may receive an additional $1 billion infusion from other investors on Feb. 1, according to a person familiar with the plans.
https://finance.yahoo.com/news/citadel- ... 09666.html

Interesting.

' ................ investors will get a non-controlling revenue share in the six-year-old hedge fund .......... '

sounds like a bad deal for the 'investors' to me.
What do you think?

have you read the book 'Where are the customers yachts? ' ?

[billy the kid]

It will be an absolute bloodbath on the markets this week....(including the All Ords....)

[Black Orchid]