/biz/ - Business & Finance

>WE BEAT THE FUCKING LUNCH DIP

I'm sorry I doubted you, /biz/. I'm sorry I doubted reddit. We fucking did it. It's over for hedgies. We fucking won.

btdubs robinhood didn't halt trading just because they hate you, they did it because Citadel made them. Robinhood can't actually place your order themselves, they need to go to a market maker to find a counterparty for you. Citadel actually pays robinhood for this, because your trades are free money for them - they overcharge you on the spread, and they place their own trades immediately before yours to take advantage of price movement. They're the ones who want you to lose money: they bailed out the biggest hedge fund shorting Gamestop, Melvin, so now they own a huge chunk of that fund. So now that they want the shorts to win, and the retail traders (you) to lose, they told robinhood to get lost, they just wouldn't be accepting buy orders on these stocks. Just sells. (This has never happened before.) Only then did Robinhood turn around and stab its retail traders in the back - because, of course, you're not their customer. Citadel is their customer. You're their product.

Yes, yes the noose closes on the shorties on Friday. But my question is does anyone know over what timespan Melvin needs to buy back this stock? If it's the course of a year+ GME is never going to go vertical will it?

How high does GME need to stay until Friday for it to moon? I don't any of us ever expected 450.