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As a licensed Financial Advisor, I'm in complete support of the movement against these Hedge Funds. What Robin Hood, Interactive Brokers, etc. did today by cutting off retail investors and eroding trust in a free and fair market was despicable and I hope there are consequences.
Wall St was finally getting beat at their own game, so they decided to change the rules while the game was still being played. It's time to shine a light on the dark practices of these Hedge Funds to whom the rules don't apply and level the playing field for the common investor.
Retail can't get in on IPOs until after they are up 100%+ but when a Reddit Thread bands together to take advantage of an exploit... that's suddenly off limits? What's the difference between that and Wall Street "idea dinners" where they pass around stock tips to each other?
The fact that these crooks shorted a stock (GameStop) to 140% of the shares outstanding says it all... They ganged up on a company caught in a precarious industry shift (physical vs. digital) and shorted it to hell. You couldn't find one other investable idea? Now they cry foul..
Well, when you short a stock your loss potential is infinite. That is the risk you take when you short a stock... Period. But apparently when you're Melvin Capital or Citadel there is actually a built in cap on that loss potential unlike the rest of us. No wonder...
Hard-working taxpayers are afraid to invest... While Hedge Funds who contribute literally nothing to the economy make all the $ while others are struggling to live comfortably and retire at a reasonable age.
