And if the stock market is about making a bet why are we limiting (or allowing limiting) anyone from making any sort of bet they want to make?
But the bullshit is these analyst jerkoffs talk out of both sides of their mouth decrying collective betmaking in single stocks and talking about how investing is supposed to be well researched, long term, and informed while leveraging themselves to the hilt on short positions, options, and 12 years ago, fucking packaged securities and speculative insurance policies on financial instruments the motherfuckers didn't even own.
It's akin to a guy telling all the other people at the table to get out of the casino. They can fuck right off.
I guess we will agree to disagree here, it's mostly arguing semantics. Not sure how taking your money and placing it on a stock that BieberHole69 recommended on Reddit is any different than placing it on red or black. Yes, most people don't invest this way but even then it's a form of speculation. It all is to varying degrees. Even the pros are making, at best, educated guesses in my personal opinion.
Shorting is legal because market makers need to be able to do so to provide liquidity. It's not fair to only allow market makers to do it so they let everyone. There are more reasons but that is the biggest. Stock lending is also a revenue driver for mutual funds/index funds/etc and allow them to keep management fees down. It has been studied thoroughly by academics and deemed useful to the markets and not dangerous 99.9% of the time.
My point is it's either betting or it isn't, regardless of who gets fucked. If it's betting let the people trade ragardless of what happens. If it isn't betting then cancel all the other exotic financial instruments because they run counter to what all these people claim the market is about while getting filthy rich on these other instruments.
Put 500 in, left with 544. It was a fun ride, but I'm not letting the big boys take my money anymore.
Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and may make adjustments as needed. To be clear, this was a risk-management decision, and was not made on the direction of the market makers we route to. We stand in support of our customers and the freedom of retail investors to shape their own financial future. Democratizing finance has been our guiding star since our earliest days. We will continue to build products that give more people—not fewer—access to our financial system. We’ll keep monitoring market conditions as we look to restore full trading for these securities. We will update this Help Center article with the latest changes. We are deeply grateful to our customers.
This case is certainly 1 in a million, but a clear example of why there should be better regulation around it. That they were able to short 140%, a large part of it thought to be illegal naked shorts, is why they backed themselves into this corner.
Because betting on red or black does, in no way shape or form, dictate how the roulette wheel spins. Short selling absolutely does Piling massive amounts of cash on one side of the scale has a ripple effect to where then other potential investors will stop and say "whoa wait, all this money is betting against this stock. Im not going to invest even if I think its a good buy"
Every adult can theoretically vote and trade stock. It’s just the powerful’s nightmare if they actually do
I bet institutional investors would trade the added unpredictability in exchange for dumbasses like me trying to make predictions based on a tiny fraction of the information and expertise available to them.
It’s a more stable business than either. Less growth opportunity and less downside risk. Has a $26B market cap. That’s much harder for a bunch of internet dorks to move.
I went and found the interview, and in more detail he basically says that the "losing" side just doesn't have the liquidity to cover their losses today with the squeeze that was about to happen this AM. AKA multiple Hedge funds are gonna go bust over this and the brokerages would be left holding the bag. This part makes sense to halt all trading honestly. The bullshit thing is that they let the institutions keep trading it down and helping their position while we sat on the sidelines.
took about a 30% loss on this when I sold it close to market opening this morning, and rolled it into Dogecoin. Going to try to ride it to $0.25-30 and then cash out half see what happens with the rest would be a lot cooler I’d posted that before musk tweeted but I have the receipts so whatever
"We love capitalism, we just hate the parts where the capital and government are in cahoots to screw the little guy. "
Let the hedge funds go bust for mismanaging risk. Let brokers go bust for mismanaging risk. Let banks go bust for mismanaging risk. There's more than enough capital and ingenuity in the marketplace to build something better.