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by f430
1961 days ago
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the people who are sitting on unrealize gains are the ones that keep creating the threads with rocket emojis and some pseudo academic reasons for why the short squeeze hasn't happened yet. The reality that they have created seem awfully like the ones that Trump supporters created including conspiracy involving the deep state, hedge fund colluding with journalists and pinning the blame on just a few people. They are very good at hyping things up like they do over at r/bitcoin, absolutely refusing to believe that the market price is whatever they hype it to be (note that strong correlation of US equities and bitcoin when it shouldn't if it was like Gold, contrary to their storage of value argument.) I think that WSB overplayed their hand and now will bring scrutiny and severe restrictions on retail margin option traders. Not only that I think there will be new rules talking about stocks on social media, similar to how email spammers took advantage of the exact same FOMO narratives to pump up penny stocks in the early days of the internet. Right now there is nothing that stops a group of people from purchasing large number of aged reddit accounts and using the downvote, upvotes to shape the narrative. The SEC has NO resources to fight this type of sophisticated mass social engineering and the laws are murky too. |
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