this is some funny ****.
-
The Comedian — 5 years ago(January 28, 2021 10:09 AM)
I thought you didn't have to work anymore because you got fired from your little job because you wouldn't take a pay cut so now you steal your mothers social security. lol stupid potato.
What happened to the American Dream? It came true! You're lookin' at it… -
TheSuperPoster — 5 years ago(January 28, 2021 02:29 AM)
This **** is GLORIOUS!
Still not as lucrative as my 2020 UAL or $BTC haul, but I certainly have been dabbling in the GME gravy train since Monday.
Going to sell at 80-85% margins before SEC and other regulators call off the party, but for now I paid off my car and am closing on a new home in less than 20 days.
Thank you, Covid market crash/rebound and Reddit trolls.
Stick it to 'em. -
Steve Lake — 5 years ago(January 28, 2021 02:57 AM)
After hours it was down almost $7 . Basically 28% But it finished down only like $2.47 in after hours trading.
The hedge guys have no idea what is coming. By trying to crush Blackberry they got a lot of folks mad. Really really mad.
I could see BB tripling in price tomorrow. Going up $45 or $50 on the day from a $22 share price to a $72 share price.
The only poster who had his account banned 4 times without ever breaking any rules each of those times. -
TheSuperPoster — 5 years ago(January 30, 2021 02:19 AM)
Lmao! Sure am glad I didn't listen to you or else I'd be down by $2 million by now.
Like I said, I like to buy one share and see where it goes before I invest more around 9:30 to 10 AM. Your six figure predicted gain led to my actual 5 figure gain.
I had nothing but red numbers on your advice, but when I went back to following my own research, it was nothing but green baby.
Honest admission: I lost more yesterday than I would have earned in a life time, but today was the clear-up.
No blame on you, Steve, nobody could have anticipated this. -
Steve Lake — 5 years ago(January 30, 2021 07:02 AM)
You do realize I wasn't wrong. This is what happened. Literally 6 online trading platforms/brokerages refused to allow any investor to buy these stocks, Gamestop, AMC, Nokia and yes Blackberry.
So I wasn't wrong. These elitist scumbags literally changed the rules after decades of doing it one way. Now hey, if my Rich hedge fund buddies get in trouble I will only allow sells of the companies my hedge fund buddies are shorting.
This is not only immoral. It's illegal. It's collusion. People should actually go to jail bro. And Barstool sports founder Dave Portanoy agrees with me.
And by the way I am not the typical hate hedge fund/rich guys type.
I am presently retired as I recently became a Millionaire.
Also My Brother was a head trader for a big firm for many years and at one point ran a hedge fund. And I love my brother very much.
But even he would agree since he never needed help/protection from brokerages that what happened yesterday cannot be allowed to ever happen again.
The only poster who had his account banned 4 times without ever breaking any rules each of those times. -
TheSuperPoster — 5 years ago(January 31, 2021 09:43 PM)
Yeah, that BS was unprecented. I felt the hit even without using those platforms.
There was a big movement of everyone moving to Vanguard or Fidelity if they had been using one of the limited apps. Tomorrow should be quite a show.
Still though, I still saw limited movement on BB, AMC, and NOK even before all that corrupt crap. Meanwhile, GME was going up faster than I could buy more when the attack happened.
They seem to still be the only one with a super high float. The rest just feels like noise, to be honest.
And SLV and DOGE are being pushed by shills. Not touching those. -
Steve Lake — 5 years ago(January 31, 2021 10:15 PM)
I agree with you on SLV and Doge. And of course AMC and Gamestop are complete **** in terms of their companies right now.
But I'm telling you Blackberry is a long term hold. Look at my posts where I get very specific on why Blackberry is gonna be a Monster stock again. Again I am saying long term. Look the hedge fund tools might drop BB down from $15 to $8 Or the Redditt guys might move it from $15 to $100. What I am saying is forget all of those douche bags on both sides and just do research on it. They don't sell smart phones anymore.
And Nokia is also a good company. The hedge fund guys have made it a $4.65 stock. Of course that is ridiculous. If you look at the fundamentals.
It's revenue. It's debt. Products in the pipeline. And 3 or 4 other variables then you would see for yourself that Nokia should really be trading at $30 a share. So I laugh when scumbags like Charlie Gaspirino and Steve Cohen complain about the reddit boys engaging in market manipulation.
Those hedge funds have been doing it their whole life.
But what the trading platforms did, only allowing sell orders and no buy orders. And in some cases , force selling. Fu ck that. People should go to jail.
The only poster who had his account banned 4 times without ever breaking any rules each of those times. -
CrystalRaindrops — 5 years ago(January 28, 2021 10:32 AM)
How much did you invest?
What did you invest in?
Which website did you use?
What do you plan to do with your newfound fortune?
Which character would you play in the Seinfeld video game? (The one posted here:
https://www.filmboards.com/board/p/20021865/permalink/#p20021865
) -
nimda — 5 years ago(January 28, 2021 10:40 AM)
i used the robinhood app to put a hundos down on nakd, some company i've never heard of. trust me though, this one is going to be big. i saw some guy on reddit say we're all going to be millionaires. not sure what i'll do with the money yet, probably pump it into some other moronic meme stock and ride the wave until the feds come for me. if i was in seinfeld i would be tony. silly question.
here is the stock if you want to watch me become a millionaire in real time:
https://www.marketwatch.com/investing/stock/nakd -
CrystalRaindrops — 5 years ago(January 28, 2021 10:50 AM)
You invested in women's underwear?
I don't know if Tony is a playable character in the Seinfeld game. I'd probably play all the playable characters, to get the full experience.
Edit: You changed the link. The first one showed pictures of women wearing underwear. -
CrystalRaindrops — 5 years ago(January 28, 2021 11:13 AM)
The Securities and Exchange Commission on Thursday accused fast-growing online broker Robinhood Financial of misleading customers about how it made money for several years,
allowing trades to be executed so poorly that customers came out worse even after taking into account the company’s free commissions
.
Privately held parent Robinhood Markets, which is expected to seek to go public next year at a valuation of greater than $10 billion, will pay $65 million to settle the case.
Robinhood did not admit or deny wrongdoing, but agreed to a censure, and to hire an independent consultant to review its customer communications and trade execution.
A Robinhood spokesperson said the company is “fully transparent in our communications with customers about our current revenue streams, have significantly improved our best execution processes, and have established relationships with additional market makers to improve execution quality.”
The SEC’s order comes one day after the Secretary of the Commonwealth of Massachusetts announced even more wide-ranging
claims that the company’s business model puts customers at risk
.
Robinhood’s smartphone app and its early embrace of free commissions has upended the brokerage industry. The company has done especially well during the pandemic, adding at least 3 million customers in the first five months of the year, more by far than any of its competitors.
But its promise of “free trading” was built on a business model that was not adequately explained to customers from 2015 to 2018—and the company didn’t get the best execution on trades, according to the SEC.
“As the SEC’s order finds, one of Robinhood’s selling points to customers was that trading was ‘commission free,’ but due in large part to its unusually high payment for order flow rates, Robinhood customers’ orders were executed at prices that were inferior to other brokers’ prices,” the SEC said in a statement.
Robinhood, meanwhile, was claiming that its execution was as good or better than its competitors, the agency said. In fact,
the execution on the trades was so bad that it outweighed the benefit that Robinhood customers received from free commission
s, the SEC said. In total, the SEC found that the inferior trades cost customers $34.1 million even after taking free commissions into account.
“Brokerage firms cannot mislead customers about order execution quality,” said Stephanie Avakian, director of the SEC’s enforcement division.
Robinhood makes most of its money from payment from order flow, a legal practice that involves taking a cut of the profits that market-makers earn by executing client trades. Other brokers do this too, but tend to rely on it much less for their revenue. And the details of those orders are crucial – brokers are supposed to route client trades so they get the best execution.
The company stressed that the issues in the SEC complaint are in the past. The company has beefed up its legal, tech and customer service departments in the past year as it has drawn more scrutiny. It hired Dan Gallagher, a former SEC commissioner, as its chief legal officer in May.
“The settlement relates to historical practices that do not reflect Robinhood today,” Gallagher said in a statement. “We recognize the responsibility that comes with having helped millions of investors make their first investments, and we’re committed to continuing to evolve Robinhood as we grow to meet our customers’ needs.”
https://www.barrons.com/articles/robinhoods-free-trading-came-with-a-catch-sec-says-51608217897
