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“We’ll all get rich sticking it to the hedge funds” was comically naïve given that the entire strategy was to hold no matter what and never sell. Every time it
by stouset 6y ago
“We’ll all get rich sticking it to the hedge funds” was comically naïve given that the entire strategy was to hold no matter what and never sell. Every time it would go higher the narrative just adjusted the target price upwards. “$1000 is not a meme” et al. As if the price would go up to infinity dollars.
If you don’t have an actual exit strategy—especially on a time-dependent play like a short squeeze—you’re the sucker who’s losing their investment.
- ilrwbwrkhv 6y agoI mean if Robinhood didn't do illegal shit like stopping retail from buying the price would have gone a lot higher.
- dragontamer 6y agoMaybe you shouldn't get your news from reddit. Hint: T+2 settlement in a time where a stock price is highly volatile means that brokerages are forced to pony up more collateral. Robinhood is such a bad brokerage, it didn't have the funds to do so and was cut out by the clearinghouses. Selling of GME would roll back the amount held by Robinhood, lowering collateral.
- deleted 6y ago[deleted]
- chewz 6y ago> was comically naïve given that the entire strategy was to hold no matter what and never sell. That was ingenious. Since tulip mania mob chased penny stocks in pump and dump schemes in order to make money. Giving class war narrative to the mob was revolutionary.