Whether it's your first Bonnaroo or you’re a music festival veteran, we welcome you to Inforoo.
Here you'll find info about artists, rumors, camping tips, and the infamous Roo Clues. Have a look around then create an account and join in the fun. See you at Bonnaroo!!
These are only the companies that are known, and this list hardly covers the 170B that’s uninsured:
Circle is crypto’s USDC stablecoin. Ripple (XRP) has said they are impacted but it isn’t known by how much.
Plus, going thru SVB’s website, they call out a ton of other well known companies like Etsy, Nextdoor, HootSuite, Affirm, Shopify, Editas Medicine, Ring, Sofi, Crowdstrike, Roman, etc.
Last Edit: Mar 12, 2023 17:30:08 GMT -5 by ZIG - Back to Top
Over two years of media gaslighting and shouts of BANKRUPTCY…
$1.4B on cash on hand, no debt, and now MOTHERFUCKING PROFITABLE.
Memestock people a couple years ago: This is about fairness and taking back power from big institutions and giving it to the common man.
Memestock people now: I like when the stock price goes up because a bunch of people lost their jobs.
This is such an uninformed response. The media, big institutions, and hedge funds have been trying to bankrupt GME now for years. It’s a dying brick and mortar company right? If a company goes bankrupt isn’t that worse?
If you bothered to actually research and dig into the topic, GameStop absolutely did lay off staff in 2022, which included the previous regime’s overpaid CFO and restructured the pay of all their senior leaders to salaries of around 200k instead of extremely bloated salaries seen at just about every other corporation. And most of the staff they laid off last year was corporate staff and even much of that was related to temporary staff that was brought in to help develop and build their blockchain and NFT functionality, as well as releasing updated mobile apps and website. The vast majority of store closures occurred under the previous regime before Ryan Cohen took control in the spring of 2021. Yet, they also announced and implemented increased pay and benefits to their store managers and staff last fall, including company shares.
As to your first point, this stock and the Reddit crowd are still looking to “take back power” from big institutions. Again, if you’ve bothered to do any research, the Reddit crowd, particular superstonk, continues to lead the way in pushing for market reform while also investing heavily in GameStop. I included a tweet by Dave Lauer because he is literally a market expert and former Citadel employee pushing for major market reforms like removing PFOF, off-exchange routing, and whole host of other topics. The reddit crowd has joined him and many other market reformers in continually submitting comments and suggestions to the SEC on all their regulatory proposals, many of which have gotten updated or pulled back when they’ve blindly helped the big institutions. They’ve continually provided dada and other details showing illegal and problematic activity. Lauer and the reddit crowd have even been able to interview and ask questions to Gary Gensler. It’s literally the first time “retail” investors have a voice and are actually making progress. Real reform takes time.
And finally, the reddit crowd is literally putting their money to work. They’ve direct registered (DRS) nearly 1/3 of all GameStop shares available so that they are no longer available to the big institutions. They are effectively pulling their shares off the market so that anyone short does not have shares available to buy back to close their positions. We continue to see the stock being heavily manipulated and shorted, and that’s based even on incomplete data that favors hedge funds and institutions. Just in March, the reported short volume was over 70% of all trades reported per day for nearly 20 days straight and has been shorted at over 50% of all volume for months.
The fact that GameStop is now profitable means the “GME is going to 0” narrative is dead and that only benefits GameStop, their employees, and their shareholders.
These types of posts on Superstonk get thousands of likes and comments. And we’ve seen tons of people responding to the SEC where in the past it was largely big institutions providing their feedback only. Reform takes time. But “retail” hasn’t given up.
They also have a library of over 200 due diligence series covering all the research that has been occurring by various Reddit posters since 2021.
Some of it has obviously not panned out but a large chunk of it has. They called Credit Suisse going kaput from research back from 2022. They’ve described market events and forces and are showing a lot more accuracy than any sort of media organization keeps putting out. In the last recession in 08-09, we didn’t have these tools. This is the first time we have had social media and the ability to actually crowdsource information and data in real time and not just rely on big institutions to provide their narrative.
One neat trick to get your Twitter account restored.
Who needs these right wing Twitter alternatives when you can just have a white billionaire racist whose family made their money off the backs of South African Apartheid burn 44B to buy out Twitter and let the racists run wild….
I’ve never been one to tweet and I merely maintain a Twitter account to make it easier to search and grab other Twitter posts to copy over here, mostly about MN politics but wading thru that Twitter to find anything reasonable now is absolutely exhausting.
Last Edit: Mar 29, 2023 1:46:22 GMT -5 by ZIG - Back to Top
The SEC has proposed some major changes to markets. Dave Lauer has been at the forefront of providing information for retail investors to be engaged in these proposals and pushing against the biggest market players who want the status quo.
In his tweet thread, Dave rightly points out that market makers like Ken Griffin of Citadel and Doug Cifu of Virtu were previously in favor of these types of changes when they didn’t have their hands in the money pot but now that they make billions of dollars off the current system, they are vehemently against making changes.
Here’s just a snip it from the CNBC article about the biggest on Wall Street lining up against these proposals, some of which are threatening lawsuits over the proposals:
“A letter jointly submitted by the NYSE, Citadel and Charles Schwab also recommended that the proposal be withdrawn entirely, as does another joint letter submitted by Cboe, State Street Global Advisors, T. Rowe Price, UBS and Virtu Financial”.
Post by piggy pablo on Apr 22, 2023 17:39:30 GMT -5
Dril, who started or popularized the #BlockTheBlue hashtag, is being given the check, changes his name to remove it, then a few minutes later someone at Twitter gives him a check again. This is legitimately how Musk is spending his time.
Yeah but that's okay since my entire 401k which is supposed to be ultra-conservative at this point is all in giant tech (APGYX) which holds all those companies. The small percentage gets reported a lot, but it's not the first time we've only had a few market drivers or the first time they made up 30-35% of the market. It happened in the 1960's and 1990's as well. I was thinking about pulling a bit and putting it into some safer investments, but I'm holding out.
Back in 2019, one of the first individual stocks that i heavily invested in was Plug Power. I got all my share for around $2.40. In the following years I was able to sell half my shares at $12 and half at $66 so I kinda made a nice chunk of change.
Now in 2024, Plug Power is back under $2.40. I figured since everything’s come back full circle, it’s time to gamble again, just with a bigger bag haha
