China Fund News Taylor
AMC and GME stocks are currently unavailable for trading on Robinhood
According to reports, American online brokerage Robinhood has closed the trading of shares in Game Station (GME), AMC Cinemas (AMC) and Nokia (NOK).
According to some users on the Reddit forum and Twitter, the stocks of AMC, GME and Nokia cannot be found on Robinhood, which means they cannot be traded.
In recent days, stocks that have suffered a lot of shorts before, such as GME, AMC and Nokia, have seen their stock prices soar.Among them, AMC rose by more than 300% on Wednesday, and GME also rose by 130%.
Analysts say this may be because retail traders are trying to create a short squeeze in these stocks.These stocks have high short positions, so squeeze or force short covering positions, which quickly pushes up stock prices.
Driven by the madness of retail investors, multiple online trading platforms have experienced downtime, and Robinhood has also become the number one financial application on the iPhone.Currently, Robinhood is the most popular stock trading platform for US retail investors.
A-share netizens were shocked!
Interactive Brokers said that due to the consideration of abnormal market volatility, it will liquidate the option transactions of AMC, BB, EXPR, GME and KOSS.In addition, long stock positions require 100% margin, and short stock positions require 300% margin until further notice.Interactive Brokers is one of the world's largest online brokerage firms, and its policies are of indicator significance.
Game Station's stock price fluctuates sharply
Fuse is triggered multiple times
As of press time, the game station stopped for the 8th time in intraday trading, and the decline widened to 31%. It had risen by more than 35% before.
The same trend also occurred on the AMC theaters.As of press time, AMC has plummeted by nearly 60%.
Retail base camp is end: Discord platform decided to remove Wallstreetbets server
In the afternoon of the 28th, it was reported that Discord announced on Wednesday that they had banned the r/WallStreetBets server because it had repeatedly violated the platform’s anti-hate speech policy.
A Discord spokesperson told the media: “Due to repeated occurrences of content that violates community guidelines, including hate speech, glorified violence, and disseminating misinformation, the WallStreetBets server has been watched by our security team for some time. In the past few months, we Several warnings have been issued to the administrator of the service. Today, we decided to remove the server and its owner from Discord because they continue to allow hateful and discriminatory content after receiving multiple warnings."
Although the r/WallStreetBets community was born on Reddit, its members have established a "server" on the group chat platform Discord, where members can discuss stock trading plans.
The managers of the Reddit community criticized Discord's move.On Wednesday, they posted on Reddit: "Success also brought us torture. Our Discord server was the first victim. Everyone knows that if a place gathers 25 people, then someone here will say Something unbearable. But the room itself is good, and the people who run it are excellent people. Discord spilled dirty water on us. This is very unethical."
But Discord stated that their decision to remove the server has nothing to do with the trading activities discussed by the group. A Discord spokesperson said: "It should be noted that we have not banned this server for financial fraud related to GameStop or other stocks. Discord welcomes all kinds of personal financial discussions, from investment clubs and day traders to College students and professional financial advisors. We are monitoring this situation and if there are allegations of illegal activities, we will cooperate with the authorities according to the specific circumstances."
The trading activities carried out by the WallStreetBets community have, to a large extent, caused serious damage to traditional Wall Street institutions. GameStop short positions alone have suffered more than $50 billion in position losses.
The volatility of the stock market also made the White House say that it is "monitoring the situation."
U.S. stock retail account representative perfect angers Wall Street
I think no matter how good the text is, it can't describe the wonderfulness of the CNBC host on TV by Chamath.I hope that qualified readers will finish the 20-minute interview.Let me summarize it a little bit, but my summary is far from restoring the beauty of things.
1. The reason for the surge in GME's stock price is that this stock was shorted by institutions by 140%. Why can it be 40% more?If it weren't for Wall Street institutions to use tools that retail investors can't use every day, how could they be caught by retail investors 40% more?perfect.
2. Many of the research levels on the forum are equivalent to those of hedge funds (I also agree with this). Why can't retail investors buy and sell based on these researches?
3. Quantitative funds on Wall Street (indicating Renaissance) do not look at the fundamentals for trading at all. Why can they not be blamed if they don’t look at the fundamentals, and retail investors will be blamed if they don’t look at the fundamentals?perfect.
4. Judging from the history of Tesla's stock price, all hedge funds are wrong and all retail investors are right. Why must hedge funds be better than retail investors?perfect.
5. Hedge funds are only open to large investors and not to retail investors. Now retail investors are not satisfied with making money. Why should retail investors be restricted?Still perfect.
I thought it was a moral torture of retail investors, but in the end it turned into a soul-quest of the establishment!wonderful.
It all starts with the game retailer Gamestop. Gamestop (game station), referred to as GME.
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