Reddit Trolls Wall St. Hedge Funds, Buying Up GameStop Stock

Pretty big earnings surprise for GameStop. Will be interesting to see if this is just a short term pop caused by people being offsides or if the market thinks this is sustainable.
 
GME is on a nice run lately around a solid Q3 (essentially breakeven for a historically rough 3rd quarter for retailers and with Christmas buying season is projected to be profitable for the full year) and news that GameStop may be looking to start a Berkshire Hathaway-esque investment portfolio, with Cohen as Investment Officer, in addition to usual retail/online operations and whatever else is in the works. A company with $1+ billion in cash and no debt, turning profitable and positioned to take advantage of a major market crash with some free cash? Very interesting.
 
Did you ever wonder why you don't make money during "retail trading" hours but hedgies still buy Hamptons houses and fly around in private jets and the cabal always bails each other out and leaves you with the bill, inflationary prices and oppressive taxes and onerous "rules" to fund it all? It's because all the money is taken during the trading hours where you are locked out and they are not. A wise man once said that the only purpose of equity markets is to separate you from your fiat.

https://ufile.io/t5ghbye0 Overnight Gains PDF

https://ufile.io/ckdvxbm6 More Overnight Gains Info PDF

(links are safe generally I uploaded myself)


The "Trading With The Enemy Act" of 1917 (4 years after FedResAct and IRS) doesn't mean what people think it does. Who is the enemy?

https://uscode.house.gov/view.xhtml?path=/prelim@title50/chapter53&edition=prelim
 
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OK, fess up, which one of you guys linked Donnie to this thread?

https://www.cnbc.com/2024/04/19/tru...l-market-manipulation-from-short-selling.html

Trump Media has warned the CEO of the Nasdaq Stock Market of ‘potential market manipulation’ of the company’s stock by “naked” short selling of shares.

The warning came as Trump Media has offered shareholders detailed instructions on how to avoid someone loaning out their DJT shares to short sellers, who then execute trades betting that the price of the stock will fall.

Trump Media disclosed the warning to Nasdaq CEO Adena Friedman in a filing Friday morning with the Securities and Exchange Commission.

DJT’s share price has rallied in recent days, but is still sharply lower than the more than $70 per share it debuted with on March 26. Former President Donald Trump owns nearly 60% of Trump Media shares. The paper value of his stake has dropped by billions of dollars since DJT began public trading last month.

Trump Media CEO Devin Nunes in his letter to Friedman did not directly accuse anyone in particular of naked short selling, which is the sale of stocks without first having borrowed such sales for that purpose.

But Nunes noted that as of Wednesday “DJT appears on Nasdaq’s ‘Reg SHO threshold list,’ which is indicative of unlawful trading activity.”

“This is particularly troubling given that ‘naked’ short selling often entails sophisticated market participants profiting at the expense of retail investors,” Nunes said.

However, the SEC on its website notes that a failure to deliver shares as part of a short sale trade, which can land a company on the Reg SHO threshold list, does not necessarily reflect improper trading activity like naked short selling.

“There are many justifiable reasons why broker-dealers do not or cannot deliver securities on the settlement date,” the SEC notes in a section about Regulation SHO.

But in his letter, Nunes, whose company owns the Truth Social app, pointed to circumstantial evidence, which included DJT being in early April the most expensive stock to short in the United States, which he said would give brokers “significant financial incentive to lend non-existent shares.”

The letter links to a CNBC article detailing the sky-high premiums brokers were charging short sellers for loans of DJT shares to sell.

“I write to bring your attention to potential market manipulation of the stock of Trump Media & Technology Group Corp.” Nunes wrote.

“As you know, ‘naked’ short selling — selling shares of a stock without first borrowing the shares of stock deemed difficult to locate — is generally illegal pursuant to Securities and Exchange Commission (‘SEC’) Regulation SHO,” he wrote.

“Data made available to us indicate that just four market participants have been responsible for over 60% of the extraordinary volume of DJT shares traded: Citadel Securities, VIRTU Americas, G1 Execution Services, and Jane Street Capital,” Nunes wrote.

“In light of the foregoing, and Nasdaq’s obligation and commitment to protect the interests of retail investors, please advise what steps you can take to foster transparency and compliance by ensuring market makers are adhering to Reg SHO, requiring brokers to disclose their ’Net Short” positions, and preventing the lending of shares that do not exist,” Nunes wrote.

“TMTG looks forward to assisting your efforts.”

A Nasdaq spokesperson told CNBC, “Nasdaq is committed to the principles of liquidity, transparency, and integrity in all our markets.”

“We have long been an advocate of transparency in short selling and have been an active supporter of the SEC’s rules and enforcement efforts designed to monitor and prohibit naked short selling,” the spokesperson said.

A spokesperson for Citadel Securities told CNBC, “Devin Nunes is the proverbial loser who tries to blame ‘naked short selling’ for his falling stock price.”

“Nunes is exactly the type of person Donald Trump would have fired on ‘The Apprentice,’ ” the spokesperson said, referring to Trump’s former reality business competition show.

“If he worked for Citadel Securities, we would fire him, as ability and integrity are at the center of everything we do,” the spokesperson said.

A spokeswoman for Trump Media in response to that said, “Citadel Securities, a corporate behemoth that has been fined and censured for an incredibly wide range of offenses including issues related to naked short selling, and is world famous for screwing over everyday retail investors at the behest of other corporations, is the last company on earth that should lecture anyone on ‘integrity.’ ”

A spokesman for Virtu Financial

, the parent company of Virtu Americas, declined to comment.

G1 Execution Services, and Jane Street Capital had no immediate comment on Nunes’ letter,

Data from Factset shows that the short volume in DJT shares has not significantly changed since April 7, while the stock price has sharply dropped before seeing a pointed bounce in recent days.

Short volume is the number of tradable shares being sold short during a specific period.

The data suggests that there was no change in the pattern of short selling that affected DJT’s price during that same time.

Trump, the presumptive Republican presidential nominee, currently is on trial in New York state court on criminal charges related to a 2016 hush money payment by his then-lawyer to the porn actor Stormy Daniels.
Click to expand...
 
This is starting to maybe be interesting.

https://www.cnbc.com/2024/04/24/djt...e-gop-to-launch-stock-manipulation-probe.html

Trump Media

CEO Devin Nunes on Tuesday urged House Republican committee leaders to investigate possible “unlawful manipulation” of the company’s stock.

Nunes, himself a former House GOP chair, in a letter asked them to probe “anomalous trading” of the stock in order to gauge the extent of the alleged manipulation and “whether any laws including RICO statutes and tax evasion laws were violated.”

The request doubles down on Nunes’ claim that Trump Media, which trades under the ticker DJT, is the apparent victim of “naked” short selling, the practice of selling a company’s shares without first borrowing them for that purpose.

Trump Media, which began trading on the Nasdaq on March 26 after completing a lengthy public merger, was far and away the most expensive U.S. stock to short as of early April.

Brokers therefore “have a significant financial incentive to lend non-existent shares,” Nunes wrote.

The probe is necessary to protect the company’s shareholders and to ensure that “the perpetrators of any illegal activity can be held to account,” he wrote.

The CEO addressed the letter to four House committee leaders: Financial Services Chairman Patrick McHenry, R-N.C., Judiciary Chairman Jim Jordan, R-Ohio, Ways and Means Chairman Jason Smith, R-Mo., and Oversight Chairman James Comer, R-Ky.

more at link
Click to expand...

If this gets legs it has big potential for spill over effects on GME and other "meme" stocks that have been infinitely naked shorted, as detailed by me in this thread.
 
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I want to put on the record that Ally Bank / APEX Clearing (Ally's clearing firm and who ordered the GME Buy button shut-off in 2021 for over 100 brokers, including Robinhood, who took the brunt of the public fallout) shut off the GME Buy button again today during GME's vertical run up this afternoon. Their system wouldn't process my market price share order during the run and once it finally accepted the order it has been sitting at "PENDING" and not executing. It would usually be "OPEN" or "EXECUTED" status if the order was sent to the market. Ally / APEX is not processing the order. In other words, Buy button is shut off again.

APEX Clearing was included in the firms alleged in Devin Nunes' second letter to Congressional committee leaders about investigating firms facilitating naked shorting of the Trump stock, of which Nunes is CEO. APEX and their brokers must be buried in fake shares of GME and DJT from naked shorting.

https://www.cnbc.com/2024/05/02/djt-trump-media-ids-firms-for-house-short-selling-probe.html

Nunes named the following firms: Apex Clearing, Clear Street, Cobra Trading, Cowen and Company, Curvature Securities, StoneX Securities, TradePro and Velocity Clearing.
Click to expand...


I'm pissed, of course, that this is happening AGAIN but it's spicy. What are they so scared of? Ally won't answer the phone....

Btw, Bill Hwang's (Archegos) criminal trial starts in a few days. Details on Archegos' collapse as related to GME and swaps are in this thread. Credit Suisse, UBS and others are knee deep in it. Some shorts may be starting to close their positions since a lot of dirty laundry will come out and Nunes is shining light on the illegal naked shorters.


eta: As of 3:39pm GME is still rising fast and my order is still PENDING and Ally isn't answering my call. There is severe forum sliding by bots/shills on the Superstonk (GME) subreddit posting nonsense threads. Redditors reporting the subreddit was basically locked except for bot/shill posts. This is no surprise as reddit is now a Wall St company and has been fully taken over by Wall St's minions.

As of 4pm market close, GME closed up 30% on huge volume. Ally / APEX never sent my market order. Still PENDING. Never answered the phone. Not a peep about it on MSM financial websites.
 
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A follow-up to Friday's post above:

Ally Invest has locked my account, disabled trading and is requiring that I call them to unlock it. Blaming it on a "system issue". THIS IS EXACTLY WHAT THEY DID BACK IN 2021 DURING THE SQUEEZE. Crooked bastards!

I've been waiting in call queue for 1 and a half hours(!!) even though it said my wait time to speak to someone would be 3 minutes. Will they answer? Is my account basically permanently locked now? What if it stays locked and they never answer? I have other non-GME positions, including options, that I can't manage while my account is locked over their "system issue".


But yeah everything is fine and markets are efficient, transparent and honest and there's absolutely no fuckery going on with GME or any other stock. Trust me bro.


eta: update - I got a call through at 11pm. They said my account would be "fixed" this morning and available again. Exact same script as the 2021 squeeze. Clearly Ally / APEX shut off the buy button again until momentum died and volatility settled down. It's crazy that they can continue to do this in breach of their fiduciary duties, since they are NOT operating in their customer's best interests, which is a requirement of being a fiduciary to someone else's money and property. They are operating in hedge fund's and Citadel's best interests, not their own customers.


eta:
Reuters: Regulators told to be ready to handle collapsed clearinghouses.

https://www.reuters.com/business/fi...ady-handle-failed-clearing-houses-2024-04-25/

Probably nothing?
 
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https://x.com/Cancelcloco/status/1798795323458064561



IMG_9576.jpeg
 
May we live in interesting times.


eta: I watched DFV's stream. Pretty strange and not much noteworthy but what it did accomplish was prove beyond a shadow of a doubt that the allegations by Wall St and their paid-for media outlets (lookin' at you CNBC and Yahoo...Yahoo is owned by Apollo Global hedge fund) are scurrilous, that DFV is not manipulating markets and it is not retail moving the price around, either. He both streamed and showed his positions yet the price continued to drop and halt repeatedly on gigantic volume. Max Pain for GME options expiring today is around $30. Citadel nearly without fail slams the price to hit Max Pain on Thurs/Fri to screw the most options holders on behalf of Wolverine Trading, GME's options market maker.

Surely DFV has retained very good legal counsel and is being advised on how to defend against the market manipulation allegations. Today's stream did exactly that. And GME has about $4billion cash now to boot.
 
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Yes, it is a giant scam but all scams must end eventually. Nothing lasts forever.

Did anyone notice how GME's shareholder meeting was late getting started, yet tons of shorts and lower bids were started at exactly the scheduled meeting start time? The price was being slammed before the meeting even started, then later CNBC runs an article blaming the price slam on the contents of the meeting? The manipulation, followed up by blatant lies as to how/why. This has to stop. I think that with Kitty's livestream price slam (which also started before his stream started but was later the "cause" of the slam according to media) and now the clearly-timed shareholder meeting price slam, the SEC has more than enough evidence to crack down on this shit, force relevant parties to start clearing the fraud from the books and let this squeeze play out without the blatant manipulation suppressing it. I think that's going to start happening soon and go on for the next few weeks. All the pieces are there. The SEC needs to sack up and do its JOB.
 
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Bill Hwang/Archegos convicted. He stays free on bail pending sentencing? Regular folks caught on petty fraud charges rot under the prison, though. Apparently the lesson is you have to steal A LOT of money, enough to grease the right palms when the fraud collapses, if you're going to defraud people. But don't be dumb like SBF was and break bail conditions.

https://www.reuters.com/legal/jury-reaches-verdict-archegos-founder-hwangs-criminal-trial-2024-07-10


(it's interesting how every write-up on Hwang/Archegos since it collapsed fails to mention that he also shorted stocks using the same swap derivatives tactics. every article frames it like he only pumped stocks)
 
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They see me holdin'.......... (GME)

They hatin'............(holders)

Patrolin'..........(forums)

Tryin' to scare me with they shortin'...........(teh stonk)


tbc
 
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:A Few Hours Later:

Still holdin'



(let's see how fast Collinz or similar slides this thread down with nonsense threads)
 
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something something.......cellar boxing......Citadel......hedge funds.......something something......sounds familiar

Georgia RICO lawsuit filed against Citadel, Vivek Ramaswamy, Peter Thiel and others over intentionally sabotaging a fintech company to steal its Intellectual Property, presumably with Citadel's help naked shorting the company into bankruptcy:
https://www.morningstar.com/news/pr-...eged-saboteurs

Defendants Citadel, Peter Thiel, Vivek Ramaswamy, Joe Lonsdale, Rick Jackson, Nick Ayers and others named in the Georgia RICO suit

DALLAS, July 22, 2024 /PRNewswire/ -- With Purpose, Inc. d/b/a GloriFi today announces its Chapter 7 Bankruptcy Trustee, its secured creditors, and its former CEO, Toby Neugebauer, entered into a joint prosecution agreement, subject to court approval, to pursue defendants alleged to have conspired against the pro-America financial services challenger.

The Trustee filed a motion for court approval of the joint prosecution agreement in the company's Chapter 7 bankruptcy proceedings, following a May lawsuit filed by WPI Collateral Management, LLC on behalf of GloriFi's secured creditors in the U.S. District Court for the Northern District of Georgia. The 140-page complaint details allegations of defamation and intellectual property theft at the hands of Defendants Citadel, LLC, Peter Thiel, Vivek Ramaswamy, Joe Lonsdale, Nick Ayers, Rick Jackson, Keri Findley and other notable individuals who are accused of conspiring to gain control of GloriFi for their benefit. According to the lawsuit, the defendants launched a "blitzkrieg" campaign to make the company uninvestable for anyone but themselves, while forming and/or investing in competitive companies. The lawsuit further outlines the alleged actions that ultimately resulted in GloriFi's closure in 2022.

With a strong ethos and powerful technological capabilities, GloriFi was poised to achieve extraordinary success on par with the Nation's most successful companies. Within days of a social media post kicking off the launch, GloriFi had onboarded 33,000 members with 5,000 opening a financial services account. The suit alleges that 72 hours later the Defendants orchestrated a final fatal blow.

At the time of its closure, the unicorn company had on file with the Securities and Exchange Commission a merger agreement with DHC Acquisition Corp, a Nasdaq listed company, valuing it at $1.65 Billion.

On behalf of the company, Neugebauer said, "as this litigation process unfolds, the employee-owners welcome their day in court where each can share their story - what they achieved at GloriFi and how the Defendants who reap the greatest rewards of America allegedly destroyed the company that would give them their rightful hard-earned piece of the pie."

WPI Collateral Management, LLC is represented by Ryan Downton of the Texas Trial Group and Chris Timmons of Knowles Gallant Timmons LLC. Any former GloriFi employee or creditor seeking more information can contact Mr. Downton at -email redacted but visible at link-.
Click to expand...
 
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