Game Stop and Robinhood reveal MAJOR stock market problems.
Did recently funded stimulus check recipient use their money to stick it to the rich?
Did a group of Reddit investors conspire to take down billionaires they felt were rigging the stock market?
Is the stock market rigged in favor of the ultra rich at the expense of the every day retail investor like you and me?
Are we living in the Matrix and a glitch just exposed how we are all being manipulated?
A group of billionaires are accusing stimulus check receivers of joining together to attack the wealthy by banding together on strategic stock purchases.
If you’ve been watching the stock market this week, it has been a wild ride. A group called Wall Street Bets got together and strategically purchased Game Stop Stock after learning that hedge funds and billionaires were purposely coordinating to depress stock values so they would drop and make their shorted options sky rocket.
However just the opposite happened. Around the beginning of the year Game Stop was trading around $15 an hour. Just as it was time to exercise shorts or bets against the stock, Wall Street Bets started buying Game Stop in record numbers.
This drove up the price of the stock as fast as the blood pressure of these billionaires and hedge funds.
To add fuel to the fire the rising HOT STOCK got attention from other wall street firms and retail investors that didn’t want to miss out on a market maker opportunity.
On top of that the richest man in the world put out a tweet about Game Stop and how wrong shorting or betting against a stock was and also the power of bitcoin.
This sent Bit Coin and Game Stop soaring.
As the stock took off, billionaires and hedge fund managers began to panic. Right around this time investing APP Robinhood started to either buffer the purchase of the stock in order to help wealthier clients or they began to run out of money to support the volume of new transactions.
By interfering with the FREE market, Robinhood found themselves in very HOT water. Robinhood started selling off Game Stop without investor clients permission. This is a HUGE NO NO.
Robinhood then blocked all ability to buy Game Stop, AMC, Black Berry and Nokia for a limited time. They essentially took on the role of the SEC or stock exchanges which is also a big NO NO.
Within an hour or so Robinhood, Game Stop, Dogecoin, Nokia, Black Berry and other stocks found themselves trending on Google search which only added more intrigue and interest. And also more irritation to the situation.
The US government, Congress, the SEC, New York Stock Exchange and many lawsuits and even a class action lawsuit will all be seeking to get to the bottom of this feeding frenzy of activity.
So did the Wall Street Bets Reddit group break the law? It doesn’t look like it. They used Wall Streets tactic of ganging up on the little guy to get back at the big hedge funds that have been using these tactics for decades.
Did Robinhood shut down buying to quietly allow billionaires, hedge funds and private clients like Citadel exit the stock with less losses? Only a thorough investigation will tell us.
Is the stock market rigged in favor of the ultra rich? Probably in some ways so you should always exercise caution in the stock market and know that it could all change in a single day.
Truthfully, I watched this whole thing play out. I chose not to get in with my own money because based on the velocity at which the market was moving, I figured this was a market manipulation on a grand scale.
Let me know in the comments, did you jump in on the feeding frenzy or know any of this was even going on?
Do you think the markets are rigged, truly free or will we see a market crash in the future? Again, let me know in the comments.
The real question is, is Game Stop worth $15 a share or the new $312 it finds itself at today?
Only time will tell.
All this frenzy and uncertainly made my silver increase in value and my personal stocks sat fairly idol as I typically invest for dividends and not soaring stocks.
Was this game stop move a one time fluke or the new trend as retail investors seek to have a piece of the coveted billionaire and hedge fund pie?
I’ll continue to bring you smart money tips and trending news.
I hope this article finds you well.
I wish to remind you, that you are amazing.