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by dragontamer 1142 days ago
They made up a story about how short sellers were ruining the stock market and then tried to say that punishing them would save the stock market.

Or am I wrong in my assessment? Then the crowds ate it up and GME mooned. The pumpers then dumped and RoaringKitty became a millionaire.
1 comments
smcn 1142 days ago
Yes I'd say that you're wrong with that.

To start, it wasn't that short sellers were ruining the market. If you spent any time there, you'd see that they, too, short stocks.

Second, it definitely wasn't made up. GME was tremendously shorted. And there were more shares shorted than existed. This is not a unique phenomenon and is possible due to a concept called "naked shorting".

It also didn't stop going up because people pumping it stopped. They literally disabled the ability for people to buy more. That is what killed the momentum. https://www.cnbc.com/2021/01/28/robinhood-interactive-broker...

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dragontamer 1142 days ago
Yeah, no one is going to change short selling rules any time soon because it's all jus t made up crap and rumors from WSB to pump GME.

Hate to break it to ya, but you're getting played of you actually think the problem here was short selling.

The problem is that skittery online retail can be so openly manipulated to believe such conspiracies and that this leads to the profits of the small leaders of the crowd.

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smcn 1142 days ago
Nobody is trying to change short selling rules. Like I said, this wasn't a rebellion against short selling.

Also, this is all verifiable information. I'd encourage you to confirm what it is that I'm saying.

Benjamin Graham said that in the short term, the stock market is a voting machine, and in the long term a weighing machine. None of this is anything new. It's just the speed at which information travels that has changed.

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dragontamer 1142 days ago
> Nobody is trying to change short selling rules.

Obviously, it was all just a ploy to trick Redditors into buying GME. If people actually cared about short selling, they'd describe new rules or regulations on the issue.

That's all it ever was. There's not much else to the story. I guess I could go over the bull$$$$ arguments over AMC, BBBY or FRC or any of the other meme stocks. But it's all just meming the stocks up in price.

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smcn 1142 days ago
No, at no point was anyone taking umbridge with short selling. They had issues with large hedge funds trying to kill companies, that may be where your confusion lies.

Also, adding FRC in there is an interesting move. Do you blame retail traders for that?

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dragontamer 1141 days ago
I blame WSB for making up bullshit stories about FRC going to $50 when FRC was clearly collapsing in reality.

It's the same pattern. Meme a lie really really hard, then screw over the community by taking money from the people who believes the lie.

No different from the GME price target of $1000 or any of the others WSB lies that people have fallen for. It's just a means to extract money from sheeple.

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It's all the same pattern. My question is how many times do the WSB Redditors have to get screwed over before they notice they are the marks getting played.

I don't blame retail for getting so blatantly manipulated. Everyone knows they're dumb money who will easily believe these lies.

I blame WSB leaders and moderators for so plainly taking advantage of retail investors and doing so for years.

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ikekkdcjkfke 1142 days ago
But wasn't it facinating that the stock was shorted >100%?
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