GameStop Price Tanks As Trading Apps Block Users From Buying More Shares

writing this story was VERY HARD when NEW THINGS KEPT HAPPENING

When Wall Street can't get what it wants it changes the rules or begs for government handouts. Typical. Disgusting. Repugnant.

I am sorry you had to go thru this kate

But I love how you changed the opening screen between the two "not stonks"

Absolutely vile behaviour. ‘Free market’ my ass. So regulations are only ok when it’s cashmere sweater-wearing turbo capitalists losing money?

This is a crazy situation that is really shining a light on the investment industry.

It will be interesting to see what someone who was bartending a couple years ago has to say about this on Twitch tonight.

DOWN WITH THIS SORT OF THING!

As long as gamestop holds on long enough for me to get my monster hunter rise amiibo that just had to be exclusive to them, they can close down for all I care.

@KateGray Still happening. Pretty decent write up though considering all of the moving parts. 👍 As a Met fan in NY we have a whole other layer you don't have to worry about. 😒

This is so wrong. “Free market” phsss the whole thing is corrupt. American just keeps getting worse and worse. I’m about to move to Australia. You never hear about there politics or problems. I’d rather deal with poisonous spiders and snakes than this...

@KillerBOB I’d rather my politicians had worked an honest day’s work as a bartender than went to Eton and lived off Daddy’s money.

Absolutely disgusting, blatant market manipulation. Execs should be jailed for this.

@rjejr as soon as this was published, I saw the Mets news. ARGH!

@FroZtedFlakerZz attention to detail 😎

Barring the buying of shares on these apps is corrupt. This has highlighted what most of us knew. It’s all fraudulent and they don’t like it when they get paid at their own game.

@Yorumi They banned hentai. I don’t agree with it but it’s disingenuous to say they banned anime when it was a specific subsection.

RobinHood is now forcibly selling the shares of users and claiming they're doing it "for their own safety".
Accelerationism is a real thing.

Wall St. literally changing the rules on the fly, because the hedge fund managers and billionaires are upset that they LOST! They can't stand the fact that regular people have bested them at their own speculation game, so they pull this s-t. This is pure cronyism and corruption at play here! 😡

@KateGray good story though glad it was written. I mean this is a pretty odd scenario for gamestop of all companies which I thought might just die a quiet death and fade into obscurity

@Yorumi Pretty much. The US is a car crash but everywhere has their own problems. I do find the choice of Australia a bit odd though given it’s one of the places that I actually have seen quite a bit of dodgy political stuff come out of.

@KateGray from US fans of Nindy-Life, we thank you for your stonk-rifice, Kate

@WickedUnicarnBoi yeah but we have luigiana

@nessisonett yeah like the best government or economy in the world today probably sucks and that's the truth of the matter: there is no such thing as a perfect government. I guess all we can do is attempt to improve

Not only has the RobinHood app blocked the buying of new shares, but, if this tweet is to be believed, they are now selling them on the investors' behalf. So a dip in the stock price may have more to do with that than any investors seeking to cash out. I haven't delved too deep into the subreddits, but if I'm not mistaken, it's become clear that RobinHood are actually in cahoots with the hedge fund at the centre of this whole business.

I wouldn't blame them if they did cash out - I'd be tempted, but it was nice to see Wall street get a taste of their own medicine for once.

Yesterday - STONKS. Today - Not Stonks

@Ghostchip I’ll just build my own country on an oil rig in the ocean somewhere. Like Mother Base in Metal Gear Solid.

@Ghostchip I feel weirdly bad for GameStop? They're just pawns in all this! I mean, I'm sure there are plenty of good reasons I shouldn't feel bad, so I don't feel THAT bad.

@GannonBanned you are welcome, US friends. I stonk-lute you.

$469 an hour ago. It’s now at $126
That still pretty good price for a stock. Put this way COA doing a finding sure but another Tx one is doing for politics only.

@Yorumi banning anime you say? Hmmm... welp I guess I’m leaving tomorrow.

@Ghostchip Your right... fine! You twisted my arm, I’ll stay.

All the old rich dudes who are powerhungry over the stock market just cant accept the truth, which is that they cannot control the stock market. They're threatened by the fact that they just lost tons of money to some memers on reddit. Absolutly horrible.

@AggressiveCucco

Tomorrow..?

...?

Profit? Complete ruin? 🤔

@WickedUnicarnBoi we don't need money food or water just luigiana

@KateGray we 🤝 from across the pond, united in our Nintendo lives

@Rambler I wanna be that guy. Minus the insane mercenary hostage situation of 1978 😬

@jump CAREFUL NOW

@KateGray especially since they are trying to turn their stores into a place where you can rent pcs and retro game consoles to play it looks so cool but I don't know if they can pull it off. They would even divide locations like one third d and d and one third pcs and one third old retro consoles. That would be the coolest thing ever and companies have succeeded doing this I've been to some gamestop would be anither good addition to.many communities. Plus I feel they have started chilling on the thing where the employees were at gunpoint to cram memberships down your throat. I just would like them to succeed because their plan would make a lot of people happy instead of just being a more expensive alternative to amazon or best buy. Also Im pretty sure Reggie's there im not very knowledgeable about this but he is a positive face for the company to have. I just have a lot of memories of going to buy pokemon there and the employees being really nice and I would like their vision to come to fruition

@nessisonett sorry I rather have anyone thats not a socialist nut job regardless if they work as a bartender.

@nessisonett colonel, this is snake. there's a man inside the base. He appears to be playing super mario galaxy. Am I at the right base? What does mario have to do with metal gear? (Sees megaleg) colonel, it appears mario is indeed related to metal gear

This why you don't have a big government. Its like history keeps repeating itself. Its just sad that foiling a get rich scheme has that kind of reaction.

@Hellburner918 yeah just make everything run by one dude and with absolute power! No offense but there is no right way to govern a nation only kind of okay ones. There is no such thing as a uncorrupt government because if it was uncorrupt there would be no freedom and the chance of a lunatic being the leader

Very disappointed that it’s ending this way.

OH here we go let me talk it down for you cheaters, YOU GOT OUTPLAYED DEAL with it but oh no its fine for you to play people but when it happens to you its time for a rule change F**K you guys. (Look If I got stuff wrong Then its bc I'm not good when it comes to stock and junk)

@KateGray Your hard work is outstanding.

People be giving GameStop stonks just for the Rosalina Hot Wheels Mario Kart.
https://scontent-atl3-2.xx.fbcdn.net/v/t1.0-9/81109985_10156530109325807_1980856251403206656_o.jpg?_nc_cat=106&ccb=2&_nc_sid=8024bb&_nc_ohc=oXD2HOmTmioAX_SOIqF&_nc_ht=scontent-atl3-2.xx&oh=bf41be8741f5d5e0a47f9103fe20cf05&oe=6037A861

This was always going to happen eventually. People were creating a bubble. The last ones in were always going to lose out if they bought an over-valued stock at its peak.

EDIT: Which is to say, the markets need to prevent this type of behaviour from all sides.

@Tyranexx yes please!

@chardir
True.

These prices for Gamestop stock were completely unreasonable and this would have happened anyway, just a matter of time.
The situation around this is so crazy that I find it completely unpredictable over short term, even now.
Over long term however, Gamestop should fall back to where all this started.

I hope the Internet Historian covers this, this needs to be documented in a way that it sticks around.

@KillerBOB That's a rather sexist attitude. Let me guess, you call Covid-19 the China Virus and think the election was stolen by George Soros.

If people wanted proof that the system is rigged where only the rich profit, here it is. Then they wonder why younger people are so disenchanted by "The American Dream" where you "Work hard for your success". We're seeing that the 1% will never allow it. They'll change the rules, rules that they abused until it hurt them, we've seen through your lies, we won't be happy little sheep toiling away while you reap the rewards. Things need to change. I'm so done.

Most concise article on the topic out there, bravo!

@Ambassador_Kong

Has nothing to do with her gender, more so her lack of experience.

The Canadian Prime Minister (the guy who painted himself black at least three times) was a former drama teacher and he is woefully unqualified for the position as well.

It's all fun and games until others start playing too.

@Yorumi From politics to the justice system to this, we need sweeping and major reforms and changes. It most certainly will not be easy, since people are stuck in their ways but the systems we have now our just way too outdated and archaic for an ever evolving world. Things will continue to fester and rot and tensions will continue boiling until we can figure out a better way. This is, of course, easier said than done but I feel we will get there one way or another. The difference is will we do it with confident steps? Or kicking and screaming as we are dragged along...

I find it kinda interesting that so many interpret this as some kind of market manipulation. I mean true, it kinda is.

But keep in mind that this is really just the shops (thats what they essentially are in this context) refusing to sell any more. This is perfectly ok for them to do in a free market.
If this is a problem in your opinion, then you do not want a totally free market, but a certain degree of political market regulation.
Not necessarily wrong, but I am not sure everyone is aware of that, especially considering how often I read people wanting a 100% free market while calling everything else immediately "socialist".

Can't people circumvent the apps like Robinhood and continue to buy and sell whatever stock they want freely? I mean people have been doing this long before Robinhood and others have existed.

Side note, I hope Robinhood loses the lawsuit against them and the little guy wins this round.

Absolutely disgusting. “Rules for thee and not for me.”

Sorry wall street, but if people wanna invest in something you don't get to change the rules and throw a hissy fit

The lawsuits over this will be EPIC!

What's the deal with Robinhood and Td ameritrade halting transactions and possibly even selling investors Gamestop stock? That has to be illegal.... At any rate, this isn't a game I want to play, but I am entertained sitting on the sideline and watching this battle take place.

Citadel needs to be sued into oblivion

Sold early. Made over 120k profit from a 2k investment back in August. Thanks Reddit, but I'm getting off this circus ride.

@Heavyarms55

For real though!

I never thought Gamestop would be the one to bring AOC and Ted Cruz together.

@Northwind I’ve seen enough episodes of University Challenge to know what sorta people you would have met at uni!

@Northwind There are enough people who make it on the basis of their genuine ability to find a nice sort. It’s probably more of a kick in the teeth to you than anyone else that Oxbridge has a reputation for producing a certain group of people.

Look up the Interview between Yahoo Finance and the Webull CEO admit that he was told by his "bosses" to stop accepting purchases. They can't take that kind of (billions) hit in capitol as they try to ruin a stock and people drive it up causing them to lose money in the process... it's amazing to hear them flat out admit they are rigging the system in their favor to get richer and NOTHING will be done about it.

@WickedUnicarnBoi Australians have solar panels on their houses and get to sell energy to the local electric companies, causing them to have vastly cheaper utility bills. It's a good place. However, with temperatures rising, there's a good bit more bush fires there and all.

2021 is already being a spicy year so far hey?

@ianl579 turns out it didn’t. She has rightfully decided not to collaborate with someone who knowingly pushes dangerous lies.

Looks like the greedy humans don't like it when they lose at their own game.

I wonder how Reggie feels about all this?

Well now Robinhood is getting sued.

https://www.foxbusiness.com/markets/robinhood-lawsuits-gamestop-amc-restrictions

Thanks so much @KateGray for helping me understand what’s happening. I’ve always loved reading news stories about stocks even though I don’t understand a word of it.

@Rambler US government is a big government, and government shouldn't be involved with the free market this is the result of it.

@Ghostchip I never said that at all, and you made that up. I believe in checks and balances. People need quit voting people in that don't care about checks and balances.