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I know it’s meant to be a funny post but just so it doesn’t add to the misinformation it’s Interactive Brokers decision to prevent buying on these stocks.
T212 uses their API.
However, to defend myself from the charge of adding to misinformation.
T212 does in fact say:
“In the interest of mitigating risk for our clients, we have temporarily placed GameStop & AMC Entertainment in reduce-only mode as highly unusual volumes have led to an unprecedented market environment. New positions cannot be opened, existing ones can be reduced or closed.”
I know they’ve made other statements which contradict this since but they use the word ‘we’ and they did say it was to mitigate risk for their customers.
If T212 announces late people try to crucify them, if they preempt the market people still want a crucifixion .
The trick here is it needs to be a stock everyone can rally behind. Just large returns isn’t enough.
All this wildness do you think this will result in bubble bursting? Hedge funds that are getting burned on shorts close gain positions to turn paper to cash and balance their books causing a mass sell off? I have no idea…
I’m not crucifying them. I think they should have been a bit more honest the first time round that they were reacting to their intermediary looking to shut this down. Their intermediary was probably pressured further down the line too.
Plenty of brokers still trading the stocks in question, maybe T121 are ‘unlucky’ not to be one of them and are as a result taking all of this flak.
Anyway, what stock will be next?
I’ve heard SafeStyle UK. Buy low sell high!
Ah, the opposite of the WSB mantra!
You’ll be left with the bag when others bail I’m looking forward to all the stories of people’s lives crushed and how they lost their house for a quick buck it’s going to be comical. Hats off to the winners though.
This is a genius idea.
Stock I think that are too high risk for me that I believe it would be best for T212 to intervene, because you know I can’t think for myself on how to manage risk. Would be:
Too much to think about, so I’ll just let trading212 decide for me again, it’s less “risky” , right?
How about Nikola?
Worth 30bn at it’s height (more than GME now) and all it had was a video of a truck rolling down a hill. At least GME is actually a business with positive potential established with the new board and new online strategy.
I didn’t say you were, it’s just a statement in general built off of the rabid behaviour in the main topic regarding AMC and GME.
as for GME’s current situation, I’m sure people remember what happened to Kodak. it’s often a case of, too little, too late.
I’m still not sure which stock to name for the potential next round. If I dare say the T word I will set half the community against me LOL
p.s: good choice of username
Currently up 61% in AH market
We were within approximately 30 seconds of triggering a nuclear bomb that would have blown up the market. Do I have your attention? Here goes:
- Yesterday, new call option strike prices were added all the way up to $570. Do I have to go over gamma squeezes again? Really? We’ve been over this: when deep out-of-the-money call options start being gobbled up and the price starts moving towards being in-the-money, the call writers have to hedge their risk of having their sold calls exercised, typically by buying stock. This creates upwards pressure on the market. We’ve been seeing these movements all week.
- Yesterday after market, you probably saw that coordinated effort to drive the price down and spook retail investors into a mass sell-off. It didn’t work.
- Last night, Robinhood sent out a message to users: you could no longer enter into new options. You could exercise them if you had the collateral (money in the account) to do so. Very interesting and the first sign of pants-shitting fear.
- Today, the market opened very strong. It opened so strong that we were looking at a self-perpetuating gamma squeeze all the way up way past $570.
- At approximately 9:58 am, the stock had reached $468 in a parabolic move.
- Two minutes earlier, at 9:56 am, Robinhood tweeted that they were not allowing users to buy GME stock, but they would allow selling.
- The trend instantly halted and started a collapse downwards, before picking up a bit, especially after some retail was allowed back in.
Okay, now that you are clear on the facts, understand this: The market ran out of liquidity today, or was threatening to get close enough that they killed it. What does that mean? It means they ran out of shares and/or capital. They wouldn’t let you buy new shares because we were burning through all the shares on the market.
I saw an unsubstantiated post from a user ( u/zshub ) who said a market sell order executed at $2600 for him. Do you get the severity of the situation, if that’s true? It means the buying was getting to the point where it was just about to put INFINITE pressure on the price of the shares. It means virtually any ask was getting bid.
How do you get infinite upwards pressure? A gamma squeeze triggering the mother of all short squeezes, just like we predicted. The call writers need shares to hedge. Retail is still buying more. The short sellers need over 100% of the float back. Add these together. There were more shares needed than existed on the open market. That’s what a liquidity crisis is.
Listen to this to this remarkable (if infuriating) interview where the chairman of Interactive Brokers admits that they didn’t have the capital to pay out the winners (us), so they took their ball and went home. DO YOU GRASP HOW INSANE IT IS THAT HE SAID THEY NEEDED TO SHUT DOWN BUY ORDERS TO “PROTECT THE MARKET”? Hello! He’s not talking about the market for GME shares. He’s talking about the entire market! The New York Stock Exchange. The NASDAQ. All that.
Remember the movie Snowpiercer? Do you remember that scene where the lower class people realize the soldiers who oppress them have no bullets? Go to the 1:00 minute mark of this link: Snowpiercer Best Part - YouTube
It kick starts a full blown rebellion. They have no bullets. It’s the exact same in this market: No capital. No shares. Infinite losses inbound.
TL;DR: For all you who will just skip to the bottom to ask, “Do I get my tendies now?” the answer is this: they NEED NEED NEED your shares. Do you get that? HOLD. Like the guy in the movie, scream, “They’re out of bullets!” and create a stampede. That’s how we win.
They needed your shares so badly that they literally risked PRISON TIME to get them. They tried robbing you, and I’m not even exaggerating. They were within 30 seconds of all being wiped out today.
Does this set a precedent for other stocks that go up in value too fast and become vastly inflated?
Would T212 halt trading out of concern for its clients? Or laterly will IB suspend trading also?
Thanks . Appreciate it!
You wouldn’t be first to suggest Tesla, which has been the subject of many many short squeezes.
You said it, not me LOL