Speculation SPAC CCIV is acquiring LUCID motors. Very risky. I'm in!

Thanks for the banter today guys. I don't normally visit this thread but it was nice to hangout with like-minded individuals. Oh, and that play pinball.

haha! Yeah, everybody forget about the short squeezes and let’s be normal again and go back to the EV companies that might make a 100 cars in the next 3 years.

On CNBC just now...RH released a statement they will be automatically closing margin and option positions they deem risky....wtf?

A lot of action in one of my holdings today CANG - a major player in the Chinese auto finance industry
up 58%

Been quiet in this thread, but uhmm..... wow. Is this real???

Risky for who?

And the talking heads defending RH saying they had a fiduciary responsibility to THEIR shareholders to stop the bleeding...someone please explain how RH was losing any money on such increased volume...not considering the Citadel link.

None of their users were losing money until they locked them out.

Their 'shareholders' are indeed not their users at this point.

Apparently....there have been posts of screenshots people receiving, and I was skeptical, but CNBC just reported this as a recent statement from RH.

F her. I don't give a shit if she is against what RH did.

Here is a link to the interview. Do not see a video.

https://www.cnbc.com/2021/01/28/elizabeth-warren-gamestop-robinhood-market-manipulation.html

CNBC breaking news.....Citadel releasing a statement..."we didn't do it"

Make them pay back the individual investors all losses due to trades being locked out. I take screenshots and photos of every blocked transaction. Fine them all remaining funds and strip those in charge of all their wealth. And then send them to prison for 30 years. Federal PMITA Prison....

And why would they lie?

I'm officially naming you as my AG.

UM, they are not going to admit any wrongdoing!

Was not impressed with the block.

The Citadel press release about not being responsible is a fucking joke. Here is how they did it (probably).

Citadel: The popcorn machine breaks at 9:32 in the morning

Robbing Hood: Say no more, fam!

So, who speaks for everyone else? We've heard from RH, Citadel, Hedge Fund managers, etc - you know..all the people involved in the screwing, but the only person I've seen anything from on the other side is the WSB guy.

Reddit co-founder has an interview up as well I believe.

We investigated ourselves and found no wrong doing.

This is PROOF POSITIVE for me that Citadel is not behind this....

5874336567op-786w3res (resized).jpg

I saw it on the Internet.

So.

Case Closed.

It's up 25% and climbing after hours right now.

Robin Hood just announced letting some limited buying on GME, AMC, etc tomorrow. WTF?

As is BB. VERY interesting.

Regardless of ToS's etc, surely there has to be legal precedent for a lawsuit over this. A brokerage refusing the buying of a stock after people have already bought, but allowing hedge funds to continue to borrow shares and short/sell them? This cannot be legal.

Someone is responsible. I would like to see the headline that reads " xxxx is claiming responsibility for broker's decision to stop trading"

CNBC could put up who is not responsible endlessly. Where is the hard hitting reporting?

I hope robinhood is put out of business over this and all the traders/investors are made whole!

"Hi Dan, It’s been a tough day, and we’re grateful to you for being a Robinhood customer. In light of the extraordinary market conditions this week, we temporarily limited buying for certain securities this morning. Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and may make adjustments as needed.

This was a temporary decision made to best continue serving you, and was not an easy one to make. We know it’s led to frustration and confusion, and wanted to provide some clarity.

As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today.

To be clear, this decision was not made on the direction of any market maker we route to or other market participants.

The past year in particular has shown us that the financial markets are for everyone—not just institutional investors and hedge funds. We’ve seen a new generation enter the market, and they’re sparking conversations about what it means to be an investor. We stand in support of you, our customers. Democratizing finance for all means giving more people access, not less.
We’ll keep monitoring market conditions and will update this Help Center article with the latest changes. We also published a blog post regarding today’s events.

Thank you again for being a Robinhood customer. We’re so grateful for your support. Sincerely, The Robinhood Team"

Limited to all friends and family.

Reminds me of the old J. C. Whitney auto part catalog listings: "Fits most cars (not yours).

Well it was nice of them to send this out as an apology to their customers. Oh, wait... They actually never say that they apologize.

Yahoo isn't showing AH for me.

Something weird is going on with AMC after hours, the price is fluctuating back and forth between $10.67 and $8.63.

And I wasn’t able to exercise my call options early. Brokerages can’t choose to close only short call positions, but then not execute requests to close long call options early. As a long option buyer, I bought the right to exercise at a strike price any time up to the expiration date. How is this legal?

Buy at 8.63, sell at 10.67

I just logged into TD...looks like normal fluctuations to me...around 10.97 right now.

Man, I would love to go to bed tonight and wake up retired.

I'd like to go to bed tonight and wake up even.

Sounds like Robinhood could no longer cover the volume, they stopped trading, as they went to find more credit.

They should have told the truth, now everyone want's thier scalp.

I normally look at my entire portfolio, not just one individual stock. Today was a good day in the market overall, every thing moved upwards. It was hard not to be focused on AMC and NOK though. If AMC and NOK had taken off today I'd already be breaking travel restrictions and posting this from a tropical island somewhere.

https://techcrunch.com/2021/01/28/webull-and-public-remove-restrictions-on-memestocks-after-citing-trade-settlement-firm-as-the-cause/

edit: I don't buy this excuse though.

True, I had sold most of my personal holdings in late Feb right before the big crash. Unfortunately though, I did not buy back in until late August so I missed much of the up trend, but the last 3 months has been very good to me.

So, speculate where do the reddit stocks (for lack of better term) go from here? The WSB crowd in part moved to Fidelity and Schwab today and RH just announced it will be opening up trading tomorrow on a limited basis. After hours most of the stocks are already trending up. So do these stocks prevail and everyone doubles down, crushing the obvious attempts by the establishment to prevent a run, or is the party really over? So much attention now by Politicians, some of these manipulators have to be getting nervous. Nothing like persecution of a Bernie Maloof to put in your cap in congress.

I made a good bit on AMC. Could have made a lot more if not for today's events. I'm a bit gun shy now as the rules are changing on the fly so getting harder to predict movements. What do you think?

They did it in plain sighe, and are lying about it. They have no fear because they have so much money. I doubt anything happens to them. RH may take a hit over it, but they aren't the 'cause'.

Interestingly enough, todays actions by brokers may just boost the buying and selling and volatility. Exactly what they are SAYING they are trying to stop. Their actions are not for the interest of their customers it is solely for the interest of RH.

What does “limited buying” mean exactly?

Same boat, same thought. The thesis on AMC is still the same but the price vs the call expiration has changed. Who is to say what halts and fits/starts this has. We could also have the SEC say that they are going to halt trades to cool things down. Since I am out, I am pretty sure I am staying out. Always subject to change.

Interesting question...