Heyyyyy we ain’t leaving! Happy anniversary, fellas! 😛
A year into the battle, no lessons have been learned by the mass media, and no change has been impacted on the financial system in the US, despite 50-or-so pending lawsuits against Robinhood.
Citadel got a $1.15B cash injection from Sequoia Capital very recently, and the money is hard at work.
Gamestop price is at a bargain! It makes me both happy and sad to see it at $100 – happy for the opportunity still present, sad because my total cost basis is above that. By the way, there are no other meme stocks. It’s GME all the way, baby.
We fight for inter-generational wealth but much more so, we fight for a fair financial system, where the laws of supply and demand would stipulate the prices, rather than an institution arbitrarily setting the price of an asset, and profiting from swindling every other market participant.
Payment for Order Flow (PFOF) is illegal *everywhere* outside USA. A year into the battle, it seems that no legal steps have been made to outlaw it there.
Making Gamestop position-close-only (PCO) to suppress rising price was illegal.
As a closing remark, I’ll share the same document I’ve shared on FT a few days ago, with a comment. You’d think that none of the fraud and manipulation applies to you individually because you don’t have a stake in Gamestop. So what if a bunch of retailers lose their money, right? Well, the concepts of justice and fairness are worth fighting for. When “they” are done with one target and move on to the next, when your assets are their next target, you don’t want to be in a situation when everyone says, hey so what if you lose your money – I don’t have a stake in the assets under attack! I’m not convinced that the drop in NFLX was due to lowered guidance. Neither DOCU. You don’t wanna be the last man standing with nobody backing you up, when “they” come for you. World history already has some devastating examples of that.
So when Gamestop gained publicity, when the abusive naked short selling really, really came into light, again, on unprecedented scale, I think this is the time to win this battle. There will not be another Gamestop. The time is now.
Now, the promised document:
https://www.sec.gov/comments/s7-08-09/s70809-407a.pdf This is a report to the SEC (who do they protect? whose side are they on?) arguing that the entire float of Fannie Mae was owned by institutions and locked, and no trading of the ticker should have been done at all – yet the price collapsed into insolvency. 14(!) years later, nothing has been done to address this. But the fight is ongoing – we ain’t leaving!
Another example from even earlier 2005, albeit in OTC market: