Wow RH has joined the elites to block trading of the reddit bets.
@gsugambit I wanted to favourite this and pretend I know what this means so I could be one of the cool kids....
My concience got the better of me... what now? Educate me bro. Pwease
@lee so there's been a big trend in the US markets to punish hedge funds for the pretty shady practices they have shorting stocks. Lots of redditors got together and found stocks that if they boosted the price would hurt those hedge funds.
Now a large portion of our stock market has responded by not allowing the stock to be traded to stop the prices from rises. So they are doing pretty immoral things to save billionaires. It's really anticapitalistic and disgusting
@lee No problem! Yeah it's a really crazy situation. I'm hoping all the callous opens up the market next week. Robinhood has walked back some of their restrictions thus far.
@lee call outs* autocorrect fail lol
@gsugambit mate thanks for this! I went down the rabbit hole after you explained it and read loads of posts!
Fascinating! And also a huge kick in the balls to those getting rich off other peoples losses!!
Thanks for heads up and taking the time to explain it bro.