Heimdallr Posted January 29, 2021 Share Posted January 29, 2021 51 minutes ago, bigbadbuff said: How is doge coin still fluctuating past 8pm? You can trade cryptos any time, they aren’t part of the stock market 1 Quote Link to comment Share on other sites More sharing options...
bcb1213 Posted January 29, 2021 Share Posted January 29, 2021 1 hour ago, ramssuperbowl99 said: The law is market manipulation, but it's written in an absurdly broad manner. We'd need a lawyer to weigh in with what prosecutors may actually charge. @SwAg @Ragnarok Quote Link to comment Share on other sites More sharing options...
Humble_Beast Posted January 29, 2021 Share Posted January 29, 2021 Just a few bucks? Why not take the risk and go for 500? I decided to throw that joke of stimulus 600 on it... let’s see what happens Quote Link to comment Share on other sites More sharing options...
SwAg Posted January 29, 2021 Share Posted January 29, 2021 1 hour ago, ramssuperbowl99 said: The law is market manipulation, but it's written in an absurdly broad manner. We'd need a lawyer to weigh in with what prosecutors may actually charge. Are you all talking about Robin Hood obviously breaking the law? Quote Link to comment Share on other sites More sharing options...
SwAg Posted January 29, 2021 Share Posted January 29, 2021 I don’t have perfect information, but RobinHood is probably staring down the barrel of at least investigations by several agencies (SEC, FTC, and DOJ). The issue is that corporate criminal conduct usually only results in fines and agreements to not be bad. 2 Quote Link to comment Share on other sites More sharing options...
AkronsWitness Posted January 29, 2021 Share Posted January 29, 2021 1 hour ago, Humble_Beast said: Just a few bucks? Why not take the risk and go for 500? I decided to throw that joke of stimulus 600 on it... let’s see what happens The problem is dogecoin is a fake crypto that was completely made up as a meme. There is nothing backing it like Bitcoin or Ripple. Its is going up and down based on people passing monopoly money back and forth. Quote Link to comment Share on other sites More sharing options...
evilflamingo Posted January 29, 2021 Share Posted January 29, 2021 10 hours ago, El Ramster said: You got balls of steel or you’re just in a comma every time the stock goes down and wake up to amazing gains. Not going to lie, it is stressful. Gotta remember myself that’s it mostly house money and even if I lose it all I can (almost) say that it was worth it just for the experience and rushes felt on this 🎢 I’ve learnt more about the stock market in two weeks than I did it the last two years prior to all of this. Plus, ain’t getting no Lambo for $100k 1 Quote Link to comment Share on other sites More sharing options...
evilflamingo Posted January 29, 2021 Share Posted January 29, 2021 Although if it gets too hot and start approaching 500 again, maybe I’ll drop 40 shares to basic double my initial investment. Then I’ll have zero remorse for riding the rest into the sun. And I can easily refill if they repeat yesterday’s shananigans. Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted January 29, 2021 Share Posted January 29, 2021 5 hours ago, SwAg said: Are you all talking about Robin Hood obviously breaking the law? Gracias. The law reads so broad, it seems like you could charge anybody. Good to know that there's going to be some justice here. Quote Link to comment Share on other sites More sharing options...
MacReady Posted January 29, 2021 Share Posted January 29, 2021 I don't do Twitter, but please tell me I'm not the only one who sees the irony in a site called Robin Hood suddenly stopping the poor people from being able to rob from the rich people. Robin Hood. I really hope Twitter has this fact handled in discussion on the matter. If it doesn't, any of you who do Twitter may take this from me and use it there. Quote Link to comment Share on other sites More sharing options...
Shockwave Posted January 29, 2021 Share Posted January 29, 2021 33 minutes ago, Outpost31 said: I don't do Twitter, but please tell me I'm not the only one who sees the irony in a site called Robin Hood suddenly stopping the poor people from being able to rob from the rich people. Robin Hood. I really hope Twitter has this fact handled in discussion on the matter. If it doesn't, any of you who do Twitter may take this from me and use it there. Yea I believe Charles Payne was one of the first to Tweet about the irony. 2 Quote Link to comment Share on other sites More sharing options...
Shockwave Posted January 29, 2021 Share Posted January 29, 2021 Watched the entire interview with "Vlad" from RH last night on CNBC. Wish Sorkin would have really drilled him. Mostly softball questions. I'm not buying the liquidity excuse. I don't typically go down conspiracy theory rabbit holes but the way all the shoes fell yesterday... Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted January 29, 2021 Share Posted January 29, 2021 I think the real retweet goldmine is saying we need to legalize quaaludes again for this type of trading to work. Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted January 29, 2021 Share Posted January 29, 2021 Alright you psychos, I’m in. Im not gonna go hard at it, but i finagled a grand to play with. GME or AMC when the market opens? eff these hedge fund goobers. 2 Quote Link to comment Share on other sites More sharing options...
SwAg Posted January 29, 2021 Share Posted January 29, 2021 (edited) 2 hours ago, ramssuperbowl99 said: Gracias. The law reads so broad, it seems like you could charge anybody. Good to know that there's going to be some justice here. I know that I kept it general as well, but the critical issue for RobinHood is simply the breadth of their exposure on their actions. The specific law on market manipulation is overly broad, but RobinHood’s act of closing out certain stock options to buyers, except for permitting individuals already invested to sell (which would push the price down), while Wall Street can still trade freely on the line... That is almost the textbook example from White-Collar Crime Law. But, there issue runs deeper even than that. That type of action could be argued to be an attempt (or success) at fraudulent activity. That opens them up to a whole new world of endless charges, but the one I would watch for is “mail and wire fraud,” because it is the easiest charge. All of the fraud allegations aside in relation to RobinHood’s effect on its user, RobinHood still opened itself up to antitrust scrutiny for unlawful restraints in trade (and several subsequent inquiries that peer into the motivation behind the restraint in trade). But, again, the penalties doled out for corporate criminal conduct are difficult to predict and sometimes hardly punitive. So, RobinHood might be litigated into insolvency, shutdown for any number of violations, or maybe just get a slap on the wrist and told they better not do it again. But, informally, I have no idea how RobinHood recovers from this one. Their brand is destroyed, and they’re facing multiple forms of scrutiny, with very provable allegations playing out in the public eye. Edited January 29, 2021 by SwAg 2 Quote Link to comment Share on other sites More sharing options...
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