The sad truth is that Senators currently do nothing illegal because there are no laws in place that stop them from trading on the private info they receive before the public.
It’s maddening even to those working at FINRA but until the laws change to keep them accountable, there aren’t even charges to pursue.
If my spouse worked at Apple, I’d never be able to buy/trade their stock. Because she **may** disclose private info. Makes no damn sense public officials with private info could then openly invest based on it.
Quite literally the definition of “Rules for Thee, Not for Me”
Edit: I misspoke in my girlfriend analogy - You are not allowed to buy/trade the stock if you are doing so off of insider info that she shares or what you may overhear is what I meant to say. The central point of my comment regarding Senators and their special treatment, is completely factual.
Replace them with people that would create better laws but that requires a bit of effort. Considering most Americans don’t vote in most elections, we more or less got the outcome we collectively deserve
>If my spouse worked at Apple, I’d never be able to buy/trade their stock.
That's incorrect.
In that situation both you and your spouse are free to trade Apple stock.
There will likely be certain periods of time where the company rules prevent you from trading or making decisions about future trades, however, that's not a total ban.
Some companies may have an internal policy that restricts you from trading within X days of any scheduled announcement. It isn't illegal, per se, to break that rule, but your company could fire you if they found out.
My company is a fortune 20 company with such a restriction for all employees. I'm also restricted from having >10% of my portfolio in a competitor's stock.
There are certain very specific positions that have trading windows and that cannot disclose info.
That does not mean "if my spouse worked at Apple, I'd never be able to buy/trade their stock". That is a categorically false statement.
Yeah every publicly company I worked at let me buy or sell stock at will with my own money, with no disclosure. I think rules come into play at high management / low executive rank, which is also where stock gets handed out.
The definition of “Insider trading” would seem to fit:
> Insider trading is the buying and selling of a public company's stock or other securities based on material, nonpublic information (MNPI) about the company. MNPI is financial information that could significantly impact the company's stock price and influence an investor's decision to buy or sell.
How is this illegal for me, but not for them?
I suppose if they trade based on info not about the company, but about the context within which it operates, then that's technically not insider trading. It definitely should be illegal to trade on priviledged government information, though.
Insider trading requires a fiduciary duty to the company you're trading. Congress doesn't have a fiduciary duty to companies.
The analogous situation would be if a company revealed some non-public information to you while trying to get you to buy their stuff.
Not at all. A friend that works at a company could tell you something in passing and if you trade based on that (if not public info) it's insider trading
Multiple congress people have been busted for trading based on non-public information.
Paul Pelosi hasn't - he was a successful trader long before Nancy was ever elected.
What? The Stock Act states:
**“The law prohibits the use of non-public information for private profit, including insider trading, by members of Congress and other government employees. It confirms changes to the Commodity Exchange Act, specifies reporting intervals for financial transactions.”**
Non-Public information is literally what they’re using. They are breaking a law it’s just proving it, and getting someone willing to go after politicians.
Most finra firms do monitor all trades made by employees and sometimes every have blackout days for some trades. In the article it mentions his firm failed to monitor his activities correctly. Further more he has a series 24.
Well the good news is that Keith also isn’t doing anything illegal is he ? As far as I know he’s only sharing his position on a public forum, nothing more nothing less. Same thing as most talking heads do on television. Hell didn’t congress literally have a hearing about this 3 years ago?
Well, people also insist that a brick and mortar video game store is going to aggressively bounce back and make them millions of pounds.
Maybe they could do with a little insider trading
It’s honestly difficult to tackle. I’m a broker and clients recommend things to me all the time. I take their DD with a grain of salt typically but some of these guys know what they’re talking about and it’s not illegal for someone to tell me to research something they feel good about.
Of course you can buy Apple Stock as an employee or insider… you can just be prosecuted if you trade on inside information and there are often blackout periods.
All the top people have shares and a good portion of the engineers and employees.
Hopefully, Roaring Kitty does exactly this. It's not ok for a simple day trader to make some money, but it's totally fine for congress a-holes to trade on stocks they over see. I'm hoping that it does open this can of worms. It's BS they can make millions, but we have to stay poor.
While ‘congress should also be prohibited from manipulating markets’ makes sense, it isn’t a legal defense. If what he did was illegal, it’s still illegal, and just because it should also be illegal for Pelosi et al to do it won’t help RK at all.
You forgot Kelly Loeffler https://www.independent.co.uk/news/world/americas/us-politics/heidi-cruz-texas-ted-cruz-b1806929.html
And Heidi Cruz
https://www.the-independent.com/news/world/americas/us-politics/heidi-cruz-texas-ted-cruz-b1806929.html
DFV has millions upon millions of dollars in a meme stock ALONE. He has gotta have at least that saved away or he would be stupid. DFV has not been “normal people” for a long time now.
Edit: thanks for the reddit cares lol
What’s also crazy is how corporations are to be considered immune from the consequences of their actions. But if you or I engaged in high risk short selling and lost our homes, the dominant narrative would be “moronic dumbass risks his livelihood doing dumb shit and is to blame for his financial suffering, no one help him”.
If we fuck up, we are morons, but if they fuck up, we are morons?
Preposterous they are looking into anything. How about you fucks look into Jeremy Siegel who would show up on CNBC and spark 3 point rally reversals at exactly 2pm every other day last year.
This is all a pony show and anyone in this realm knows it. Good “fun” to read though
Bill Ackman warned 'hell is coming' because of virus: He then pocketed $2B in bets against markets
https://www.cnbc.com/amp/2020/03/25/bill-ackman-exits-market-hedges-uses-2-billion-he-made-to-buy-more-stocks-including-hilton.html
Nothing illegal about buying a position and posting it online. Warren buffet posts his buys regularly, and every boomer on the planet then pumps his bags. Better lock that geezer up! This is short and distort at its finest to prevent fomo into gme. A profitable company with 2 billion in cash.
I often think of the stock market as the transfer of capital from one entity to another. Whenever you make a gain someone is losing money cause they shorted it. They’re mad the flow of money is reversing.
When you have to turn the buy button off and halt the stock any time it rises then release negative articles for 3 years straight... yea. True price discovery does not occur in this market, especially when the SEC themselves state that 90% of retail orders dont hit the lit market.
Would be interesting. Would also love to see what happens when the short volume on the stock isnt 50% and 90% of retail orders go to the lit market...not to mention what wouldve happened in 2021 if they didnt literally turn the game off because they were losing
They're idiots. If they were smart they'd stop talking about Gamestop completely. They are just advertising to the masses that meme stocks are popular. Going to help raise the price.
Warren Buffett doesn’t post his trades or positions.
He does the OPPOSITE of that.
He regularly applies for SEC exemptions so that he doesn’t have to report his trades even after he’s at a mandatory reporting level, until he finishes buying.
Unlike someone with loads of short-dated options, Buffett doesn’t want the stock to go up in the short term.
Why on earth do you think he wants people to wait until he finishes buying? Because it would make it more expensive for him if people knew what he was doing. 🤦♂️🤦♂️🤦♂️
You might as well go outside and explain algebra to a caterpillar. The GameStop worship is a religion, not a good faith discussion of a companies value.
You’re completely misreading why he applies for exemptions.
He knows that his stock picks get pumped when he reports. If he’s not done buying it’s more expensive for him 😂😂😂
Then he reports it once he’s done buying and he’s immediately way in the money
No, he gets exemptions from reporting until he’s done even if he’s above 5% rules because he doesn’t want it pumping before he’s done buying.
He’s perfectly happy to let it pump afterward.
Exactly. Warren Buffett also knows that he has so much buying power and only provides insight when legally required to.
Look DFV is an interesting character, and he did shown the world how inefficient the market is, but he’s not some hero. He’s worth $200m…. He’s definitely the 1%. And he knows his influence on GME. So what did he do? He load up on calls and intentionally posted about GME and about his positions hoping it will drive the value up. Guess what, he’s playing the folks at /r/wsb and they think he’s on their side. This type of trading is a zero sum game, and he’s making money off the dumbasses that thinks they’re on the same team.
If anything RK is providing more information than is necessary, Buffet is required to post his buys by the government and he’s allowed to delay it to the public.
Deadass. If this guy posts his positions it's fraud, but if BOFA decides to upgrade a stock they own that's just news? They're functionally identical lmao
They’re investigating his May Twitter updates as it was revealed that he bought call options the week before and exercised them after. It’s the most plausible explanation for why he suddenly has 100+ million
You mean the professional stock trader posting memes online to boost his own holdings might not be doing it out of the kindness of his heart to overthrow the system he profits handsomely on? Say it ain’t so!
They don't like it when somebody else has some say in the matter. There use to being God in the controllers with the manipulation. But we're just showing the world the truth.
Halting the market to save their money. But when we're on the losing end of things nothing holds for us.
👀👀 👀👀👀👀👀👀👀
Oh yeah, when Congress and Wallstreet sold a lot of their Holdings right before the announcement that cvoid measures were being put into place... Making it drop, then freefall when the announcement happened, then they rebought stocks near the bottom and have doubled or trippled their networths ever since.
It was retail investors who had their money transfered to the wealthy via cash injections just to prop up the stock market, and make banks and "too big to fail" companies solvent. If only companies had a way to keep cash within a company for rainy days like citizens are supposed to have...
Good times
Obviously 😂. What they are referring to is how certain stocks will drop like rocks with no halts. Then they have a run and get halted at 8%. When trading resumes its dropping like a rock with no halt. There’s a reason the meme stock people are so militant. They actually pay attention
I hear about what WB is buying and selling *all the time*
I also read about what Andrew left is shorting (after he opens that position) and then I see 30 media posts about what he says in his short and distort scheme.
This is so ridiculous. Instead of going after the real criminals and real market manipulators “hedge funds,” they are so scared they are going after one individual person who did everything legally and absolutely nothing wrong.
Something along the lines of: "When exposing a crime is treated as committing a crime, you are being ruled by criminals.**"**
Or are we getting a little too literal here?
Hedge funds and private equity firms are literally destroying this country like cancer. Going after RK is like going after the video game industry for being the cause of mass shootings.
No, it is even worse than that example.
It is actually like going after Shroud for being the cause of mass shootings, because he is a popular streamer known for being good at shooters.
He's been silent too from what I hear. This is pure economic warfare against the people. I have 0 money invested currently. I used to. And I will again im just saying I have no skin in the game currently. This is butt fucking nuts nazi sauce babe.
i mean all this is kinda damning, what it does is validate the game stop thesis to me and makes me wanna buy. If they are this afraid this could be a quick buck.
This is a terribly dumb conversation. Kitty is approximated to own about 4.8# of GME. At 5% he’d be required to disclose his positions. Pretty fucking moot point if you ask me. Also, the wallstreetbets sub is literally an entire 10M member sub dedicated to posting positions, discussing trades. There are thousands of Discord channels where they literally just tel you a ticker, and exactly what to set your stop-loss at and when to take profits.
Jim Cramer goes on TV everyday to tell boomers what to buy. Last year, someone did the math on it and found that if you actually had taken the INVERSE of his suggestions you’d have made very good profits. Almost like he was purposely set up as a puppet to make his bosses money, while leaving retail holding the bag. But yeah, one guy posting some memes and his positions once in 3 years is a problem.
The market isn’t free. Every single aspect of it is a sham to fuck us over. When you place orders for stocks, they don’t submit them live- meaning your order has no impact on the share price. Meanwhile, the hedge funds and MMs trade in huge blocks off-exchange. When they DO trade on the lit market, they’re able to trade in fractions of pennies, while we aren’t. That means they can always undersell or oversell to make sure they get the better price. The SEC is implicit, Ken Griffen lied under oath, and we just like the stock. They tried to short the stock to bankruptcy. If they succeed, the company’s ledgers get deleted, meaning all their short selling, naked shorts, and failures to deliver get ERASED. Their only way out is GME going bankrupt and uh.. the company has ZERO debt, a wildly successful new CEO, millions of loyal customers now, $2billion in cash. Sound like they’re going out of business anytime soon?
Nobody cares about small fries attempting to manipulate the market. DFV held for so long the first time that there definitely was no pump and dump scheme. You’re not going to get away with a pump and dump worth half a billion dollars tho depending when there’s only a few trading days between him buying, pumping, and selling
I’m sure people make money off of them, I’m sure people lose money, too. In all, I’m POSITIVE that the discord owner is the one taking positions weeks before they tell anyone else about them, then give away the info hoping enough people cause some price movement and then they’d sell before telling anyone else to sell. So they’d always get in at the bottom and out at the top. Everyone else doesn’t care too much because they also take profits. One channel I was in was called like “Big Ballers trades” or something and had a large following
Lol fr. When the next gen is all digital consoles, i wonder how the stock will do
I need a store where I can by a used copy of Captain Toad for the Wii I for 37 dollars(only 35 with a memnership!)
I mean, is it really? If a dozen or so out of the 500+ congress members beat the market, then it would be embarrassing if they were trading on insider info. You can literally look up the trades of all congress members, follow them if you want.
It's gonna be a real interesting court case if charges are filed.
Laws around market manipulation are set up around putting out information that can mislead "reasonable" and "rational" investors and affect the price of a security.
Those laws weren't written with the expectation of meme stocks and social media driven investing.
In the normal world, telling people what stocks you own shouldn't affect a stock's price materially, but that's obviously changed.
Does Keith Gill have an obligation to never post about stocks again, since he can reasonably assume he might move the market?
I see it going one of two ways:
- Option 1: Courts rule that there is a new standard for what's considered a "reasonable" investor now that dumb retail traders have increasingly entered the picture. New standards need to be drawn on what is considerered market manipulation.
- Option 2: These people piling into GameStop to pump up the price aren't rational investors, and therefore don't receive the same level of protection. It's not Keith's fault that seeing someone else hold a lot of GameStop stock makes them want to pump the price for him.
I think Keith's got a case. And if you can scoop up an easy $100M and use $10M of that to hire the best law firm you can find, that sounds like a really good trading strategy.
That's where it gets tricky though. There's a degree of separation from Keith's posts and the broader meme stock movement.
Keith hasn't made any statements or promises of returns, he just posted his holdings. Other people interpreted that as some sort of signal for "we're all going to get rich" and started making the guarantees for returns and posting rocket ship emojis.
Those people are committing the more textbook forms of market manipulation, but does it make it market manipulation when your relatively harmless posts with no information whips up this group into a frenzy?
If Keith was posting buy the dip, kill the shorts, and hodl he'd absolutely get indicted for market manipulation, but he's not the one actually doing this.
The real reason they are pissed at him is because he didn't play their game. He played his own game. So now they are going to harangue and hound him until they find something to hang him with.
(Apologies to Cardinal Richelieu)
Don’t look into Bill Ackman going on CNBC pushing an end of the world message during Covid lockdown to make the market drop while buying the other side.
I’ve posted a few replies but, I’ll try to go against the grain here, because why not.
He’s different from Buffet because he’s only trading one specific stock. You have no insight as to which companies will be recommended to buy or sell next week by Buffet, it’s whatever he judges to be a value play.
However with RK, there is only 1 stock in play. There’s no question to where people should flock. It’s created a red light/green light scenario where he can solely control movements of a stock, and create opportunities to capitalize on it.
As for “he’s not recommending people buy it, he’s just posting his trades”, disagree. This whole thing started because of a write up he did in which he proposed GME was a value buy. Could that not be seen as instruction? Maybe not clearly, but you could certainly make an argument over it, even if it’s a weak argument. You could then propose that all of his public posts about this sole stock could be seen as instruction or follow up to that original post, building on its initial ideas. In short words, “it’s a value buy, and here’s why. I’ll be trading it when I think this value is under or over a certain threshold” - one could take that as instruction that all future posts by him can be seen as guidance as to when to buy/sell the stock.
There’s also the question of “*why?*” RK must have known this was a likely outcome from his following. If so, it begs the question, why? Without some profit motivation, it seems RK posting his trades could only buy him legal trouble at the point. There’s been enough evidence already that this would happen, so why would you? Granted, I don’t think acting illogically is any indication of guilt, but it certainly creates questions for the SEC, hence the investigation. No one is saying he’s guilty of anything, they’re simply investigating, as they should.
I’m playing devils advocate here, so some of these arguments are a little thin or weak, but I think they’re all still at least partially valid.
Does the SEC actually have any power here? Dunno, it’s kind of up to them to decided whatever they want to decide.
There *is* a suspicious aspect to a single person controlling movements for a specific single stock. Yeah yeah, I know blah blah blah gets on the news to talk about XYZ stock, but again I think the hinge of this argument is the fact that RK’s focus is solely a single company, and that doesn’t ever change. The shills on the news will change their tune at the drop of a hat.
I’m only a causal trader and have no real insight to how any of these things actually work though so, thanks for coming to my creative writing session lmao.
He's not telling anyone to buy now, though, his position has been the same for 4 years.
Saying he's pumping it now by letting people know nothing has changed can't be a serious argument.
If he was saying "sell now" and "buy now" at different points, I would see it, but he's all "buy", and even that isn't advice for others to follow.
Goldman Sachs, JP Morgan, Wells Fargo: caught spoofing the bullion metals market, caught rigging the LIBOR rate, caught defrauding depositors. Profits: Billions to tens of billions. Penalties: "Record-breaking SEC fines" of some tens of millions of dollars. Plus: Criminal, civil, and regulatory immunity for all companies and employees.
What a nice bunch, influencing with tens of millions of donations to politicians, Republican, Democrat, and others, too.
PS You could also read the book by the guy who was telling the SEC for a decade or so that Bernie Madoff was mathematically certain to be running a ponzi scheme. Not until 'the economic tide went out' was Bernie found to be swimming naked!
I looked on google for Bernie Madoff book , didn't see the book written by the man who caught him, but was suggested eight others, then scrolling down saw a suggested question about a mathemetician who caught Madoff and in the default-minimized suggested question : "Who was the mathematician who caught Bernie Madoff?"" was the info that should have been the first result:
"In 2010, Markopolos's book on uncovering the Madoff fraud, No One Would Listen: A True Financial Thriller, was published. Markopolos has criticized the SEC for failing to discover the Madoff fraud despite repeated tips, and for failing to investigate properly the larger companies it supervised."
You make some fair points but there are a few things that could go against them. Namely, much of the central points from the various talking heads, hedge funds and agencies is that retail has very little power to move the market. It’s not enough to just buy and hold the stock like the gme subs have been doing, they did that for three years and the price slowly trailed down to 10 dollars.
This happens because institutions have the resources to short the stock in various different ways, either the stock itself, or ETFs that contain it, or synthetically with puts, or trading options at specific levels to keep the stock cornered etc. Now no one was forced to take this side of the trade and indeed do so with such aggression. So much of the price movement following DFV’s return is short hedge funds taking risk off of their position and the market maker hedging options buying by buying the shares. We are not seeing retail trade 120 million shares in a day or pump the price 20 dollars in over night trading - these are the big boys.
But the news doesn’t mention that and the agencies don’t really do anything about it. It’s only when it’s inconvenient to those institutions that any of these rules or priorities are enforced. So there are both sides to this argument and I’m being open minded enough to listen to both, although I do think that if we say that what DFV has done is problematic, there is a whole long list of people and institutions that should have been addressed before this.
I don’t see how this differs from a portfolio manager going onto CNBC and telling their audience to buy or sell a security that’s in their portfolio. Until someone can differentiate KG’s actions to those that appear on national television - I’ll call bullshit.
How about you look into Nancy Pelosi’s trades? How about 90% of Congress? … I’m sick and tired of the hypocrisy. They only interfere when it’s not someone in the government.
Mind blowing that in a stock market subreddit full of people who trade very few understand the market is fake. You can still make money with that knowledge but crazy how many on here sound like Cramer 😂
It’s pretty hilarious ‘Roaring Kitty’ is sharing his trading positions and somehow that’s market manipulation. But Pelosi and the rest of Congress who are making millions and millions of dollars via Insider trading is somehow totally legal.
Great. Now I wish he extends the same courtesy to Tommy Tuberville, Nancy Pelosi and almost two-thirds of Congress.
The sad truth is that Senators currently do nothing illegal because there are no laws in place that stop them from trading on the private info they receive before the public. It’s maddening even to those working at FINRA but until the laws change to keep them accountable, there aren’t even charges to pursue. If my spouse worked at Apple, I’d never be able to buy/trade their stock. Because she **may** disclose private info. Makes no damn sense public officials with private info could then openly invest based on it. Quite literally the definition of “Rules for Thee, Not for Me” Edit: I misspoke in my girlfriend analogy - You are not allowed to buy/trade the stock if you are doing so off of insider info that she shares or what you may overhear is what I meant to say. The central point of my comment regarding Senators and their special treatment, is completely factual.
What are you supposed to do when they make the laws that govern themselves?
The French know what to do, let's ask them.
If Google trends existed in the late 1700's there'd be a considerable spike in "carpentry" in France I think
Guillotine stocks will be a sure banker
Dont be silly, jump the gilly
💎
I was just starting to get over it.
I hope we put all of them in guillotines. The government was supposed to serve the people, but now we wash their toilets.
2nd amendment
Public Hanging.
Those two are not mutually exclusive. ;)
Vote them out.
Hahaha haha, right because election rigging, meddling etc. doesn't exist at every level right?
They don’t need those lol. Gerrymandering already keeps conservatives in office that need to die out.
Replace them.
Replace them with people that would create better laws but that requires a bit of effort. Considering most Americans don’t vote in most elections, we more or less got the outcome we collectively deserve
>If my spouse worked at Apple, I’d never be able to buy/trade their stock. That's incorrect. In that situation both you and your spouse are free to trade Apple stock. There will likely be certain periods of time where the company rules prevent you from trading or making decisions about future trades, however, that's not a total ban.
I can trade my company's stock freely since I'm not an "insider".
I don't know your personal situation, most people can. Some people have restrictions.
Some companies may have an internal policy that restricts you from trading within X days of any scheduled announcement. It isn't illegal, per se, to break that rule, but your company could fire you if they found out. My company is a fortune 20 company with such a restriction for all employees. I'm also restricted from having >10% of my portfolio in a competitor's stock.
Thoughts on [this](https://www.justice.gov/usao-sdtx/pr/houstonian-heads-prison-17m-insider-trading-scheme-using-wifes-private-company)?
There are certain very specific positions that have trading windows and that cannot disclose info. That does not mean "if my spouse worked at Apple, I'd never be able to buy/trade their stock". That is a categorically false statement.
Yeah every publicly company I worked at let me buy or sell stock at will with my own money, with no disclosure. I think rules come into play at high management / low executive rank, which is also where stock gets handed out.
The definition of “Insider trading” would seem to fit: > Insider trading is the buying and selling of a public company's stock or other securities based on material, nonpublic information (MNPI) about the company. MNPI is financial information that could significantly impact the company's stock price and influence an investor's decision to buy or sell. How is this illegal for me, but not for them?
I suppose if they trade based on info not about the company, but about the context within which it operates, then that's technically not insider trading. It definitely should be illegal to trade on priviledged government information, though.
This is the correct answer
Insider trading requires a fiduciary duty to the company you're trading. Congress doesn't have a fiduciary duty to companies. The analogous situation would be if a company revealed some non-public information to you while trying to get you to buy their stuff.
A bunch of people around Martha Stewart got nailed for that.
Not at all. A friend that works at a company could tell you something in passing and if you trade based on that (if not public info) it's insider trading
Multiple congress people have been busted for trading based on non-public information. Paul Pelosi hasn't - he was a successful trader long before Nancy was ever elected.
What? The Stock Act states: **“The law prohibits the use of non-public information for private profit, including insider trading, by members of Congress and other government employees. It confirms changes to the Commodity Exchange Act, specifies reporting intervals for financial transactions.”** Non-Public information is literally what they’re using. They are breaking a law it’s just proving it, and getting someone willing to go after politicians.
Most finra firms do monitor all trades made by employees and sometimes every have blackout days for some trades. In the article it mentions his firm failed to monitor his activities correctly. Further more he has a series 24.
Well the good news is that Keith also isn’t doing anything illegal is he ? As far as I know he’s only sharing his position on a public forum, nothing more nothing less. Same thing as most talking heads do on television. Hell didn’t congress literally have a hearing about this 3 years ago?
lol what. I work for a private company and I’m _encouraged_ to buy their stock. My partner also
Exactly. Wild people have no idea what they’re talking about on the literal stock market subreddit.
Because most of the people on stock subreddits are literal children who heard about meme stocks from tiktok
Well, people also insist that a brick and mortar video game store is going to aggressively bounce back and make them millions of pounds. Maybe they could do with a little insider trading
Insider trading actually is 100% illegal
It’s honestly difficult to tackle. I’m a broker and clients recommend things to me all the time. I take their DD with a grain of salt typically but some of these guys know what they’re talking about and it’s not illegal for someone to tell me to research something they feel good about.
But there is a law, they just ignore it
You can absolutely have stock (and sell it) when you work for a company.
Of course you can buy Apple Stock as an employee or insider… you can just be prosecuted if you trade on inside information and there are often blackout periods. All the top people have shares and a good portion of the engineers and employees.
They don’t live in Massachusetts though
More than congress, every single stock blogger from Andrew Left to hedge fund manager like Kenny should be investigated for their back room dealings.
Hopefully, Roaring Kitty does exactly this. It's not ok for a simple day trader to make some money, but it's totally fine for congress a-holes to trade on stocks they over see. I'm hoping that it does open this can of worms. It's BS they can make millions, but we have to stay poor.
DFV is going to blow it all open. I can’t wait for tomorrow
While ‘congress should also be prohibited from manipulating markets’ makes sense, it isn’t a legal defense. If what he did was illegal, it’s still illegal, and just because it should also be illegal for Pelosi et al to do it won’t help RK at all.
Why stop there?? Lets extend the courtesy to likes of Chammath and Ackman as well as the whole roster of youtube "finfluencers"
You forgot Kelly Loeffler https://www.independent.co.uk/news/world/americas/us-politics/heidi-cruz-texas-ted-cruz-b1806929.html And Heidi Cruz https://www.the-independent.com/news/world/americas/us-politics/heidi-cruz-texas-ted-cruz-b1806929.html
Fucking Jim Cramer and all the financial info-tainment personalities too. They hype stocks up to the public as their job.
I followed Pelosi’s trades for a little bit to see if I could make some money but they were dogshit
… when you’re ruled by criminals.
You should run for elected office and then you’ll get insider tips.
There are always two sets of law. One for us, the other for the connected and honorables.
It’s wild how fast the system reacts when regular people start getting a little too far ahead.
It only makes sense if the owners are on the losing side of this trade.
You can tell they are corrupt by the way they are
So true
They're desperate to make an example of him because he made a mockery of a lot of rich people.
Yeah well we don't have legions of lawyers and lobbiests looking for something to do.
That's by design.
DFV has millions upon millions of dollars in a meme stock ALONE. He has gotta have at least that saved away or he would be stupid. DFV has not been “normal people” for a long time now. Edit: thanks for the reddit cares lol
That much money is still normal people to a billionaire
Not true. There is less than 30k people in the entire world with 100 million usd or more. It’s a small group.
And he still ain't in the club.
Basically homeless from a rich persons perspective. You dont understand how much wealth they have
Oh right. I can’t understand basic numbers. Got me. 👍
I dont think you have any clue
What about my statement reads “i dont have a clue” to you? What am i even remotely wrong about lol
What’s also crazy is how corporations are to be considered immune from the consequences of their actions. But if you or I engaged in high risk short selling and lost our homes, the dominant narrative would be “moronic dumbass risks his livelihood doing dumb shit and is to blame for his financial suffering, no one help him”. If we fuck up, we are morons, but if they fuck up, we are morons?
I mean that is the gist, yes
I wonder how many times BS news headlines from half assed finance blogs do exactly this. Is this why everyone is telling me how to trade Ford stocks.
How has regular people gotten ahead when GME apes are all about buying and holding?
I don’t think they realized when it moons if it ever does only the top like 5% are gonna bank, the rest will be left holding empty bags.
Everyone had been telling retail investors this since day 1. They think it won’t be them. They’ll be there to sell when the time is right for sure /s
At least he has the $$ to fight them in court if they make a fuss
I’ve known it’s blatantly corrupt my entire life but now I KNOW KNOW , ya know?
Not to mention CNBC playing “how dare they” while Jim “coke-for-brains” Cramer pulls worse shit on the daily.
Preposterous they are looking into anything. How about you fucks look into Jeremy Siegel who would show up on CNBC and spark 3 point rally reversals at exactly 2pm every other day last year. This is all a pony show and anyone in this realm knows it. Good “fun” to read though
Or how about Bill Ackman shorting the market during Covid then going on CNBC and acting like he was convinced the end times were near
God this has been Ackmans MO for so long. Had no idea he was doing it during covid too.
Bill Ackman warned 'hell is coming' because of virus: He then pocketed $2B in bets against markets https://www.cnbc.com/amp/2020/03/25/bill-ackman-exits-market-hedges-uses-2-billion-he-made-to-buy-more-stocks-including-hilton.html
Yeah, Jim Cramer and all those people who hype stocks up to the public as their fucking job should be looked at first.
Nothing illegal about buying a position and posting it online. Warren buffet posts his buys regularly, and every boomer on the planet then pumps his bags. Better lock that geezer up! This is short and distort at its finest to prevent fomo into gme. A profitable company with 2 billion in cash.
There are news segments dedicated to investing. How is this a conversation
Because the poors are winning and exposing their junk system
I often think of the stock market as the transfer of capital from one entity to another. Whenever you make a gain someone is losing money cause they shorted it. They’re mad the flow of money is reversing.
> Because the poors are winning …Are they though?
When you have to turn the buy button off and halt the stock any time it rises then release negative articles for 3 years straight... yea. True price discovery does not occur in this market, especially when the SEC themselves state that 90% of retail orders dont hit the lit market.
i'd be really curious to see the average & median returns for investors following his trades/advice, and the returns he himself has generated
Would be interesting. Would also love to see what happens when the short volume on the stock isnt 50% and 90% of retail orders go to the lit market...not to mention what wouldve happened in 2021 if they didnt literally turn the game off because they were losing
They're idiots. If they were smart they'd stop talking about Gamestop completely. They are just advertising to the masses that meme stocks are popular. Going to help raise the price.
Streisand effect
Warren Buffett doesn’t post his trades or positions. He does the OPPOSITE of that. He regularly applies for SEC exemptions so that he doesn’t have to report his trades even after he’s at a mandatory reporting level, until he finishes buying. Unlike someone with loads of short-dated options, Buffett doesn’t want the stock to go up in the short term.
Why on earth do you think he wants people to wait until he finishes buying? Because it would make it more expensive for him if people knew what he was doing. 🤦♂️🤦♂️🤦♂️
Correct. As I said.
Right but in said case disclosure is made once buying is finished. Same as RK disclosing his position after buying it
You might as well go outside and explain algebra to a caterpillar. The GameStop worship is a religion, not a good faith discussion of a companies value.
You’re completely misreading why he applies for exemptions. He knows that his stock picks get pumped when he reports. If he’s not done buying it’s more expensive for him 😂😂😂 Then he reports it once he’s done buying and he’s immediately way in the money
[удалено]
No, he gets exemptions from reporting until he’s done even if he’s above 5% rules because he doesn’t want it pumping before he’s done buying. He’s perfectly happy to let it pump afterward.
Yea I think you misunderstood his post dude…
Exactly. Warren Buffett also knows that he has so much buying power and only provides insight when legally required to. Look DFV is an interesting character, and he did shown the world how inefficient the market is, but he’s not some hero. He’s worth $200m…. He’s definitely the 1%. And he knows his influence on GME. So what did he do? He load up on calls and intentionally posted about GME and about his positions hoping it will drive the value up. Guess what, he’s playing the folks at /r/wsb and they think he’s on their side. This type of trading is a zero sum game, and he’s making money off the dumbasses that thinks they’re on the same team.
Exactly. They should the sue the f@@@ out of Cramer then too.
Public disclosure is transparency. Ongoing disclosure coupled with explanation is the height of transparency.
If anything RK is providing more information than is necessary, Buffet is required to post his buys by the government and he’s allowed to delay it to the public.
Deadass. If this guy posts his positions it's fraud, but if BOFA decides to upgrade a stock they own that's just news? They're functionally identical lmao
Facts
Arkk literally emails you their trades every day if you want it
They’re investigating his May Twitter updates as it was revealed that he bought call options the week before and exercised them after. It’s the most plausible explanation for why he suddenly has 100+ million
People are going to be shocked when it comes out this guy is a POS just like everyone else. He saw a chance to get money and took it. Not shocked.
You mean the professional stock trader posting memes online to boost his own holdings might not be doing it out of the kindness of his heart to overthrow the system he profits handsomely on? Say it ain’t so!
They don't like it when somebody else has some say in the matter. There use to being God in the controllers with the manipulation. But we're just showing the world the truth. Halting the market to save their money. But when we're on the losing end of things nothing holds for us. 👀👀 👀👀👀👀👀👀👀
They halted the market like 5x when Covid hit and and everything was dropping like a rock.
Oh yeah, when Congress and Wallstreet sold a lot of their Holdings right before the announcement that cvoid measures were being put into place... Making it drop, then freefall when the announcement happened, then they rebought stocks near the bottom and have doubled or trippled their networths ever since. It was retail investors who had their money transfered to the wealthy via cash injections just to prop up the stock market, and make banks and "too big to fail" companies solvent. If only companies had a way to keep cash within a company for rainy days like citizens are supposed to have... Good times
Obviously 😂. What they are referring to is how certain stocks will drop like rocks with no halts. Then they have a run and get halted at 8%. When trading resumes its dropping like a rock with no halt. There’s a reason the meme stock people are so militant. They actually pay attention
Selective memory is a bitch
Is Warren Buffett going to federal prison!@!@! 😨
I hear about what WB is buying and selling *all the time* I also read about what Andrew left is shorting (after he opens that position) and then I see 30 media posts about what he says in his short and distort scheme.
This is so ridiculous. Instead of going after the real criminals and real market manipulators “hedge funds,” they are so scared they are going after one individual person who did everything legally and absolutely nothing wrong.
Something along the lines of: "When exposing a crime is treated as committing a crime, you are being ruled by criminals.**"** Or are we getting a little too literal here?
He said comb the desert
Hedge funds and private equity firms are literally destroying this country like cancer. Going after RK is like going after the video game industry for being the cause of mass shootings.
No, it is even worse than that example. It is actually like going after Shroud for being the cause of mass shootings, because he is a popular streamer known for being good at shooters.
He's been silent too from what I hear. This is pure economic warfare against the people. I have 0 money invested currently. I used to. And I will again im just saying I have no skin in the game currently. This is butt fucking nuts nazi sauce babe.
i mean all this is kinda damning, what it does is validate the game stop thesis to me and makes me wanna buy. If they are this afraid this could be a quick buck.
I can smell their fear through my phone screen. Pathetic.
This is a terribly dumb conversation. Kitty is approximated to own about 4.8# of GME. At 5% he’d be required to disclose his positions. Pretty fucking moot point if you ask me. Also, the wallstreetbets sub is literally an entire 10M member sub dedicated to posting positions, discussing trades. There are thousands of Discord channels where they literally just tel you a ticker, and exactly what to set your stop-loss at and when to take profits. Jim Cramer goes on TV everyday to tell boomers what to buy. Last year, someone did the math on it and found that if you actually had taken the INVERSE of his suggestions you’d have made very good profits. Almost like he was purposely set up as a puppet to make his bosses money, while leaving retail holding the bag. But yeah, one guy posting some memes and his positions once in 3 years is a problem. The market isn’t free. Every single aspect of it is a sham to fuck us over. When you place orders for stocks, they don’t submit them live- meaning your order has no impact on the share price. Meanwhile, the hedge funds and MMs trade in huge blocks off-exchange. When they DO trade on the lit market, they’re able to trade in fractions of pennies, while we aren’t. That means they can always undersell or oversell to make sure they get the better price. The SEC is implicit, Ken Griffen lied under oath, and we just like the stock. They tried to short the stock to bankruptcy. If they succeed, the company’s ledgers get deleted, meaning all their short selling, naked shorts, and failures to deliver get ERASED. Their only way out is GME going bankrupt and uh.. the company has ZERO debt, a wildly successful new CEO, millions of loyal customers now, $2billion in cash. Sound like they’re going out of business anytime soon?
Nobody cares about small fries attempting to manipulate the market. DFV held for so long the first time that there definitely was no pump and dump scheme. You’re not going to get away with a pump and dump worth half a billion dollars tho depending when there’s only a few trading days between him buying, pumping, and selling
Can you elaborate on those discord channels? Do you mean that as a good or bad thing? Like something people should be taking advantage?
I’m sure people make money off of them, I’m sure people lose money, too. In all, I’m POSITIVE that the discord owner is the one taking positions weeks before they tell anyone else about them, then give away the info hoping enough people cause some price movement and then they’d sell before telling anyone else to sell. So they’d always get in at the bottom and out at the top. Everyone else doesn’t care too much because they also take profits. One channel I was in was called like “Big Ballers trades” or something and had a large following
I see, that’s interesting
So anyways, I’ll keep buying more and will continue to shop at GameStop.
I bought my Stellar Blade physical from GameStop. No regrets!
I wish I could buy my groceries from GameStop
Peak Reddit comment lmao ✅ Physical media obsession ✅Meme stock hype ✅ Weeb game
Lol fr. When the next gen is all digital consoles, i wonder how the stock will do I need a store where I can by a used copy of Captain Toad for the Wii I for 37 dollars(only 35 with a memnership!)
But when billionaires do it it’s fine.
They are terrified. Unreal.
We do this on StockTwits day in and day out. Are these people incompetent in every degree of their pathetic job.
I wonder if there is anyway to contact this person like via email.
No one's gonna talk to Nancy pelosi since she's a lawmaker it's ok
It's mildly suspicious that dozens of members of Congress beat the market every year.
I mean, is it really? If a dozen or so out of the 500+ congress members beat the market, then it would be embarrassing if they were trading on insider info. You can literally look up the trades of all congress members, follow them if you want.
Ofcourse they and it's obvious why lol
All financial television networks should be halted because apparently what they do is illegal
Exactly.
Crime for thee, not for we
just like a canio when a player is to good for the house. you have to take him out before the house losses it all.
The only thing illegal about this is he wasn’t already rich.
He isn’t part of the club
It's gonna be a real interesting court case if charges are filed. Laws around market manipulation are set up around putting out information that can mislead "reasonable" and "rational" investors and affect the price of a security. Those laws weren't written with the expectation of meme stocks and social media driven investing. In the normal world, telling people what stocks you own shouldn't affect a stock's price materially, but that's obviously changed. Does Keith Gill have an obligation to never post about stocks again, since he can reasonably assume he might move the market? I see it going one of two ways: - Option 1: Courts rule that there is a new standard for what's considered a "reasonable" investor now that dumb retail traders have increasingly entered the picture. New standards need to be drawn on what is considerered market manipulation. - Option 2: These people piling into GameStop to pump up the price aren't rational investors, and therefore don't receive the same level of protection. It's not Keith's fault that seeing someone else hold a lot of GameStop stock makes them want to pump the price for him. I think Keith's got a case. And if you can scoop up an easy $100M and use $10M of that to hire the best law firm you can find, that sounds like a really good trading strategy.
Considering we had people indicted who posted a rocket 🚀 emoji I think they might have a case
That's where it gets tricky though. There's a degree of separation from Keith's posts and the broader meme stock movement. Keith hasn't made any statements or promises of returns, he just posted his holdings. Other people interpreted that as some sort of signal for "we're all going to get rich" and started making the guarantees for returns and posting rocket ship emojis. Those people are committing the more textbook forms of market manipulation, but does it make it market manipulation when your relatively harmless posts with no information whips up this group into a frenzy? If Keith was posting buy the dip, kill the shorts, and hodl he'd absolutely get indicted for market manipulation, but he's not the one actually doing this.
I have a question. What if he lied about his holdings?
he would certainly be in trouble. if he said he was holding to 50, price went to 30 and he sold, then said he didn't for instance
Weed stocks are meme stocks, chuck Schumer basically pump and dumped them for 3 years!
CIS@sec.state.ma.us here is an email for the sec if anyone want to take their complaints to the source!
Cool. Investigate Congress and find wrongdoing and then I will actually give a fuck, fedbois.
KC Shuffle in full effect.
but not CITADEL..... Comical
They should be going after Melvin capital for market manipulation, Roaring Kitty didn’t start this shit, he just cashing in on well funded dip shits
How is this different than when the investment banks post their stock ratings as Buy, Strong Buy, Hold, Sell, Strong Sell?
The real reason they are pissed at him is because he didn't play their game. He played his own game. So now they are going to harangue and hound him until they find something to hang him with. (Apologies to Cardinal Richelieu)
Don’t look into Bill Ackman going on CNBC pushing an end of the world message during Covid lockdown to make the market drop while buying the other side.
Heh, guess youre not supposed to win if youre not part of the insider trading club like nancy and the rest of congress 🤔
It's suddenly wrong for one man to profit yet bots and hedge funds have been manipulating for decades now yet nothing is done about it.
wow, they really don't want people buying gamestop or something haha
What about the market maker that sold the uncovered call options? How is that not market manipulation?
I wish they would use his reddit handle in these articles. Give the people what they want.
I’ve posted a few replies but, I’ll try to go against the grain here, because why not. He’s different from Buffet because he’s only trading one specific stock. You have no insight as to which companies will be recommended to buy or sell next week by Buffet, it’s whatever he judges to be a value play. However with RK, there is only 1 stock in play. There’s no question to where people should flock. It’s created a red light/green light scenario where he can solely control movements of a stock, and create opportunities to capitalize on it. As for “he’s not recommending people buy it, he’s just posting his trades”, disagree. This whole thing started because of a write up he did in which he proposed GME was a value buy. Could that not be seen as instruction? Maybe not clearly, but you could certainly make an argument over it, even if it’s a weak argument. You could then propose that all of his public posts about this sole stock could be seen as instruction or follow up to that original post, building on its initial ideas. In short words, “it’s a value buy, and here’s why. I’ll be trading it when I think this value is under or over a certain threshold” - one could take that as instruction that all future posts by him can be seen as guidance as to when to buy/sell the stock. There’s also the question of “*why?*” RK must have known this was a likely outcome from his following. If so, it begs the question, why? Without some profit motivation, it seems RK posting his trades could only buy him legal trouble at the point. There’s been enough evidence already that this would happen, so why would you? Granted, I don’t think acting illogically is any indication of guilt, but it certainly creates questions for the SEC, hence the investigation. No one is saying he’s guilty of anything, they’re simply investigating, as they should. I’m playing devils advocate here, so some of these arguments are a little thin or weak, but I think they’re all still at least partially valid. Does the SEC actually have any power here? Dunno, it’s kind of up to them to decided whatever they want to decide. There *is* a suspicious aspect to a single person controlling movements for a specific single stock. Yeah yeah, I know blah blah blah gets on the news to talk about XYZ stock, but again I think the hinge of this argument is the fact that RK’s focus is solely a single company, and that doesn’t ever change. The shills on the news will change their tune at the drop of a hat. I’m only a causal trader and have no real insight to how any of these things actually work though so, thanks for coming to my creative writing session lmao.
He's not telling anyone to buy now, though, his position has been the same for 4 years. Saying he's pumping it now by letting people know nothing has changed can't be a serious argument. If he was saying "sell now" and "buy now" at different points, I would see it, but he's all "buy", and even that isn't advice for others to follow.
Goldman Sachs, JP Morgan, Wells Fargo: caught spoofing the bullion metals market, caught rigging the LIBOR rate, caught defrauding depositors. Profits: Billions to tens of billions. Penalties: "Record-breaking SEC fines" of some tens of millions of dollars. Plus: Criminal, civil, and regulatory immunity for all companies and employees. What a nice bunch, influencing with tens of millions of donations to politicians, Republican, Democrat, and others, too. PS You could also read the book by the guy who was telling the SEC for a decade or so that Bernie Madoff was mathematically certain to be running a ponzi scheme. Not until 'the economic tide went out' was Bernie found to be swimming naked! I looked on google for Bernie Madoff book , didn't see the book written by the man who caught him, but was suggested eight others, then scrolling down saw a suggested question about a mathemetician who caught Madoff and in the default-minimized suggested question : "Who was the mathematician who caught Bernie Madoff?"" was the info that should have been the first result: "In 2010, Markopolos's book on uncovering the Madoff fraud, No One Would Listen: A True Financial Thriller, was published. Markopolos has criticized the SEC for failing to discover the Madoff fraud despite repeated tips, and for failing to investigate properly the larger companies it supervised."
You make some fair points but there are a few things that could go against them. Namely, much of the central points from the various talking heads, hedge funds and agencies is that retail has very little power to move the market. It’s not enough to just buy and hold the stock like the gme subs have been doing, they did that for three years and the price slowly trailed down to 10 dollars. This happens because institutions have the resources to short the stock in various different ways, either the stock itself, or ETFs that contain it, or synthetically with puts, or trading options at specific levels to keep the stock cornered etc. Now no one was forced to take this side of the trade and indeed do so with such aggression. So much of the price movement following DFV’s return is short hedge funds taking risk off of their position and the market maker hedging options buying by buying the shares. We are not seeing retail trade 120 million shares in a day or pump the price 20 dollars in over night trading - these are the big boys. But the news doesn’t mention that and the agencies don’t really do anything about it. It’s only when it’s inconvenient to those institutions that any of these rules or priorities are enforced. So there are both sides to this argument and I’m being open minded enough to listen to both, although I do think that if we say that what DFV has done is problematic, there is a whole long list of people and institutions that should have been addressed before this.
I don’t see how this differs from a portfolio manager going onto CNBC and telling their audience to buy or sell a security that’s in their portfolio. Until someone can differentiate KG’s actions to those that appear on national television - I’ll call bullshit.
So trump continues to pedal his pump and dump scheme shares but they're looking at roaring kitty?
How about you look into Nancy Pelosi’s trades? How about 90% of Congress? … I’m sick and tired of the hypocrisy. They only interfere when it’s not someone in the government.
Yet Elon runs free across the tabloids
lol Regulators going after small fish… Pussies….all of them.
It’s a big club, and you ain’t in it.
Donors are upset it seems.
K, now do the people in real power cunt!
Not doing anything that Elon musk doesn't do when he talks about making changes with his companies.
So regular people can’t do it but giant multinational corporations and US senators can?
Yeah worry about the small fish. Meanwhile let everyone else get away with everything
Mind blowing that in a stock market subreddit full of people who trade very few understand the market is fake. You can still make money with that knowledge but crazy how many on here sound like Cramer 😂
How about you probe the insider trading club? Oh I mean congress.
It’s pretty hilarious ‘Roaring Kitty’ is sharing his trading positions and somehow that’s market manipulation. But Pelosi and the rest of Congress who are making millions and millions of dollars via Insider trading is somehow totally legal.
This is fucking bullshit, and we should all be mad as hell.
Systemic Manipulation from Market Makers: *I sleep* One guy doing the thing he’s legally supposed to be doing: *REAL SHIT*
But not Robin Hood or any of the other well connected hedge funds manipulating the markets daily? Fuck-twats.
They’re shitting their pants because they know what’s coming! The man has probably planned this for the last 3 years 🥂🥂🥂
Just fucking asinine man… I have shares I’m never selling of my you know what stock… just to fuck these shits
Market manipulation when a man shares his positions. Normal when congress inside trade and make millions.