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Discussion in 'The Mainboard' started by Tobias, Jan 26, 2021.
So... they're not gonna win?
AMC decided to use what little cash they have to buy a 22% share in a gold mine today
They might want to check what market maker does the most volume on lit exchanges.
There is plenty to critique with PFOF, but when orders are coming from a mobile app and not a sophisticated trading platform I don't think you are worried about frontrunning the SIP nbbo by milliseconds. The alternative before PFOF was getting robbed by floor specialists. For some reason people were more comfortable being robbed by humans than the idea that the algos are programmed to make money.
Nokia is a solid company actually. Not a terrible long term investment
Hoping the apes target VXX next.
Uh oh apes
$GME back to doing GME things
amc and gme popping off again today doeee
They will finish red on the day
freaking hedgies, man
Meme Stock Mania Propels the IRS to Record Tax Haul
Last year’s meme stock frenzy may have turned a handful of Reddit-addicted retail traders into millionaires — and squeezed a handful of short-selling hedge funds into double-digit losses — but the big winner was a bearded old man in a top hat. We’re talking, of course, about Uncle Sam.
The Internal Revenue Service reported a record amount of tax revenues for the first eight months of the fiscal year, propelled by a rash of earnings from retail stock traders.
From Meme to C.R.E.A.M.
Since the federal fiscal year kicked off in October, tax collections are up 42% over the same period as in pre-pandemic 2019, the Treasury says. In other words, Uncle Sam’s next suit should be a patriotically pinstriped Armani. The $2.7 trillion in levies the IRS has collected as of May 5 is also the most in history, more than last year’s $2.1 trillion — in fact, this fiscal year’s tax revenue topped $2 billion in the first six months for the first time ever.
According to the Congressional Budget Office, much of the haul comes from corporations, whose tax bills from October to March were up 22% from a year earlier, and are on pace for a new annual record of $454 billion. Yet a shocking amount of tax revenue is coming from capital gains made by regular Americans, after meme stock communities and apps like Robinhood briefly turned securities trading into a pastime as commonplace as baseball:
• According to Treasury data, the amount of individual taxes collected this fiscal year — which includes income from small business proceeds and the sale of stocks, but does not include income or employment taxes — is $452 billion, almost triple the $152 billion at the same point in 2019.
• “A big chunk of it has come from short-term capital gains,” Lou Crandall, Wrightson ICAP’s chief economist, told Bloomberg. “Meme stocks were very, very good to the IRS.”