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I am the only one who finds this understandable? Sure short selling sounds weird and dodgy. But how is this different from shilling penny stocks in year 2000?
by throwaway4good 6y ago
I am the only one who finds this understandable?
Sure short selling sounds weird and dodgy. But how is this different from shilling penny stocks in year 2000?
People on Internet forums find stocks that are easy to move for whatever reason; generate hype and price hike and then watch gullable speculators pile in while the core group of manipulators exit their positions.
- gmm1990 6y agoYeah I don't understand why so many people are defending a ponzi scheme. Its in at least 90% of Robinhood users interest to not be able to buy GME right now.
- recursive 6y agoWhen are all the noble protectors going to turn their attention to convenience stores and gas stations? They shamelessly sell lottery tickets every single day to unsuspecting bag holders. It's in at least 99% of their interest not to be able to buy those tickets.
- gmm1990 6y agoThat's a good point
- Miner49er 6y agoIt's a short squeeze, not a pump and dump, as you describe. In a short squeeze, the hedge funds that hold the shorts will be the ones who lose money. Although, to be fair, some gullable speculators probably will too, but the point is to make money off the hedge funds' poor trade. The SEC can step in for pump and dump schemes, no reason for Robinhood to have taken the initiative (AFAIK).