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(Yahoo)   SEC suspends trading in 15 stocks on the news that poor people are using the market similar to how the rich do   (finance.yahoo.com) divider line
    More: Interesting, Stock market, Stock, Dividend, Bloomberg Television, shares of companies, stock market's version, Berkshire Hathaway, stock prices  
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1593 clicks; posted to Business » on 27 Feb 2021 at 2:27 PM (10 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

 
2021-02-27 11:49:44 AM  
18 votes:
The people holding sway over Wall Street are very unhappy about he filthy apes becoming sentient.  We could always see their crimes, but now we can act on them.  It's not a good feeling for the parasites sucking our economic life blood.
 
2021-02-27 5:04:48 PM  
14 votes:
If you think Reddit, specifically WallStreetBets, is the masses trying to "take down Wall Street" and not a bunch of Wall Street finance bros exploiting yet another informational advantage, I don't know what to tell you.

If you want to take down Wall Street, support good regulation of Wall Street.
 
2021-02-27 12:07:09 PM  
12 votes:
they're all shiat ass penny stock pump and dumps, nothing to do with the meme stonks

nothing new about scammers, they're just trying to ride the coattails of the gamestop crowd this time
 
2021-02-27 3:14:56 PM  
11 votes:
I don't like to see any restrictions on purchasing stocks with money you have earned. Naked short selling, which is what made the whole GME debacle possible, should be curtailed instead.
 
2021-02-27 2:37:04 PM  
9 votes:
In other words, the SEC suspended trading in companies that have failed to file appropriate paperwork and are clearly pump and dumps.

this has nothing to do with the legitimate things involved in WSBs stocks.
 
2021-02-27 4:58:03 PM  
7 votes:

Linux_Yes: fragMasterFlash: I don't like to see any restrictions on purchasing stocks with money you have earned. Naked short selling, which is what made the whole GME debacle possible, should be curtailed instead.

Stock owners dont earn anything.

They live off the Labor of others.

Frickin socialists!!


That's one of the dumbest things ever said in on these threads.
 
2021-02-27 3:54:59 PM  
7 votes:

tdyak: The solution is simple: bring back commissions for trades and transactions.  This time it will be more expensive (inflation)  and remove DRIP exclusions.

Regulate that at a government level, so brokers have to do it and say "sorry, government regulation".


That's a terrible idea and does absolutely nothing to address what this is about.
 
2021-02-28 6:47:36 AM  
5 votes:

sprgrss: Linux_Yes: fragMasterFlash: I don't like to see any restrictions on purchasing stocks with money you have earned. Naked short selling, which is what made the whole GME debacle possible, should be curtailed instead.

Stock owners dont earn anything.

They live off the Labor of others.

Frickin socialists!!

That's one of the dumbest things ever said in on these threads.


Even dumber is that stock owners pay 15% capital gains tax on their free goodies while Labor pays 25 or 30% tax on their paychecks/income.

Thats even dumber.
Disincentivise work and incentivise sitting on your ass living off profits labor produced.

Labor creates wealth. Labor came before wealth and deserves the higher regard.
---A Lincoln

You must be young........
 
2021-02-27 5:53:47 PM  
5 votes:

sprgrss: tdyak: The solution is simple: bring back commissions for trades and transactions.  This time it will be more expensive (inflation)  and remove DRIP exclusions.

Regulate that at a government level, so brokers have to do it and say "sorry, government regulation".

That's a terrible idea and does absolutely nothing to address what this is about.


I could write a 30 page book on how to regulate the market that makes sense.   To limit shell corporations, manage short selling, put a reasonable limit on margin trading, stuff that would affect 5% of daily people, and very few negatively while curtailing the sharks for a few years.

Ain't nobody gonna read my fark post.

Putting a charge in there will remove everyday people from putting money they can't afford to lose into the market, treating it like a casino and encourage responsible investing.  Something that will make you more money in the long run.

A moratorium of 24 hours would only encourage rich people to abuse poor people.   Because they have more money to dual trade commodities.
 
2021-02-27 7:29:27 PM  
4 votes:
It's OTC stock. It's probably this rich farks from wall street doing it. One of reasons you should stay away from penny stocks because the big buys manipulate them heavily.
 
2021-02-27 7:42:41 PM  
3 votes:
Look, my portfolio is the meme-iest, I rode the SNDL rollercoaster, I'm holding AMC, I even debated Blue Sphere from TFA.

If you buy pink sheet crap based on what you read on Reddit, it's basically a blind gamble.  Pure and simple.  I'm ok with this and like the volatility and potential for explosive gains.  But think about all the sleazy business practices you hear of Fortune 500 companies doing every day.  Now realize that the stock you're buying isn't listed on a major exchange because they're most likely worse than that.  Caveat emptor.
 
2021-02-27 6:09:41 PM  
3 votes:

sprgrss: Linux_Yes: fragMasterFlash: I don't like to see any restrictions on purchasing stocks with money you have earned. Naked short selling, which is what made the whole GME debacle possible, should be curtailed instead.

Stock owners dont earn anything.

They live off the Labor of others.

Frickin socialists!!

That's one of the dumbest things ever said in on these threads.


Account created in '02 - you should know about Mr Yes by now.
 
2021-02-27 7:43:44 PM  
2 votes:

Somaticasual: It might be time to have a collective discussion about stopping public trading on near-valueless pink sheets. Way too many pump and dump schemes and shell companies


The problem is there are real companies in otc too that just haven't yet meet the requirements to be listed. If we lock Joe blow to listed only (which BTW isn't some public policy. It's wall street policy who gets listed) Joe blow will always be locked out of the big initial windfall.

For example, I'm sitting on a new biotechnology companies otc stock that is close to be listed. If I was locked out I would have missed getting in when the stock was below $1 instead of the plus $4 it has to maintain to be listed. That is a possible 400% return on my money I can't try for.
 
2021-02-27 3:52:24 PM  
2 votes:
It might be time to have a collective discussion about stopping public trading on near-valueless pink sheets. Way too many pump and dump schemes and shell companies
 
2021-02-28 8:00:25 AM  
1 vote:
Why do you feel the need to open your mouth and thereby remove all doubt?
 
2021-02-28 12:12:42 AM  
1 vote:

Moopy Mac: Dafatone: If you think Reddit, specifically WallStreetBets, is the masses trying to "take down Wall Street" and not a bunch of Wall Street finance bros exploiting yet another informational advantage, I don't know what to tell you.

If you want to take down Wall Street, support good regulation of Wall Street.

And apparently "Wall Street" is a couple of hyper aggressive hedge funds which specialize in shorting companies.


Right?

Those hyper aggressive hedge funds suck, but the idea that they are the entire finance industry, rather than a sliver of it, is silly.
 
2021-02-27 6:00:42 PM  
1 vote:

tdyak: Putting a charge in there will remove everyday people from putting money they can't afford to lose into the market, treating it like a casino and encourage responsible investing.  Something that will make you more money in the long run.


you are begging the question that people who "can't afford to lose money" don't know how to work the market in their favor.  And all you are proposing is to create new barriers to entry that in effect shuts people out of the market and only keeps the market a mechanism for wealthy individuals to become wealthier.

tdyak: A moratorium of 24 hours would only encourage rich people to abuse poor people.   Because they have more money to dual trade commodities.



You just don't seems to understand the market and preventing people from becoming victims of scams is directly in the governments interest.
 
2021-02-27 3:47:08 PM  
1 vote:
The Tendieman Rap Remix
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2021-02-27 3:06:26 PM  
1 vote:
The solution is simple: bring back commissions for trades and transactions.  This time it will be more expensive (inflation)  and remove DRIP exclusions.

Regulate that at a government level, so brokers have to do it and say "sorry, government regulation".
 
2021-02-27 2:46:57 PM  
1 vote:

Dead for Tax Reasons: they're all shiat ass penny stock pump and dumps, nothing to do with the meme stonks

nothing new about scammers, they're just trying to ride the coattails of the gamestop crowd this time


Indeed, sounds like the system is working.
 
2021-02-27 1:56:14 PM  
1 vote:
Two weeks ago the SEC suspended trading in SpectraScience Inc. -- a firm that had surged 633% in 2021 to just over two-tenths

So a non-zero amount of zero.
 
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