GenZ was 10 to 15 years old when many of their parents list their homes...or witnessed their friends parents lose their homes.Guest wrote: ↑Thu Jan 28, 2021 11:28 pmI think its more people doing it to screw over the Hedge Funds.John wrote: ↑Thu Jan 28, 2021 11:16 pm** 28-Jan-2021 World View: Pump 'n' Dump
I've written several posts about this on the Financial Topics thread,DaKardii wrote: ↑Thu Jan 28, 2021 10:41 pm> John, what do you think of r/WallStreetBets and its
> short-squeezing campaigns?
> https://www.insider.com/wallstreetbets- ... olo-2021-1
starting yesterday evening.
The summary is as follows: In my opinion, what we're seeing is a "Pump
and Dump" scheme, where a small group of criminals have created
multiple Reddit accounts and are encouraging people to push up the
prices of Gamestop, AMD, and other "Casino Stocks." The criminals
have previously purchased a large number of shares of the casino
stocks when the prices were very low, and are watching as the "pump"
phase progresses. At a time of their choosing, they'll "dump" their
holdings at high prices, and make a lot of money. That may already
have happened, since the prices of the casino stocks have already
fallen 50% or more from their highs.
Robinhood has halted purchases of the casino stocks, in order to abort
or at least pause the pump phase. They are being widely condemned for
doing that by people who are saying that all Robinhood wants to do is
save the hedge fund companies who shorted the stocks.
There must be thousands of desperate people out there who have lost
their life savings or even their homes, as they credulously purchased
shares of the casino stocks during the pump phase.
The next few days and weeks are going to be very ugly.
I love it and it brings me the same joy as when Trump was elected as a Fuck You to the establishment.
GenZ just dumped boiling oil on the perpetrators of thus financialized fraud. They turned two Wall Street Hedgefunds to smoke and it ain't over yet.
Right or wrong, GenZ is going to take down anybody that doesn't share their idea of fairness in the marketplace.
I support GenZ and with them luck.