Bankrupt Hertz targets Robinhood traders in plot to dump $1B in stock

Re:Bankrupt Hertz targets Robinhood traders in plot to dump ... by smabie on Friday June 12, 2020 @07:25PM (#23504950)

“Hertz looks at the market and sees there is a group of irrational traders who are buying the stock, and the response to that is to seek to sell stock to these people in hopes of raising some amounts of money to fund their restructuring,” University of California law professor Jared Ellias told reporters.

Sounds like Jared is miffed that he didn't cash in. The fact that Hertz is up like 200% since the beginning of the month means that the traders are, in fact, rational.

What's great about the market is that it's a self-fulfilling prophecy. If you're wrong, and everyone else wrong, you all become wrong. The only way to, in fact, be wrong, is if everyone else disagrees with you. So what makes your decision wrong is the fact that you were the only one to make it.

I applaud these Hertz traders and feel a little disappointed that I didn't jump in on it. Man, I bet Icahnn is pissed. He could have made one the biggest killing the Street has seen in a long time! Of course, according to our friend Jared, he's the rational one in all of this.

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Re:Bankrupt Hertz targets Robinhood traders in plot to dump ... by cortesoft on Friday June 12, 2020 @07:41PM (#23505084)

> The fact that Hertz is up like 200% since the beginning of the month means that the traders are, in fact, rational.

You aren't factoring in time here... just because a stock has gone up over a specific period of time doesn't mean everyone who bought the stock did the right thing. What if the price collapses tomorrow?

Also, a good outcome for an action doesn't mean taking it was rational. If I place my life savings on black in a game of roulette, there is an 9/19 chance that I double my money. If I do, it doesn't mean I was rational to make that bet. It means I was lucky.

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Re:Bankrupt Hertz targets Robinhood traders in plot to dump ... by SahAssar on Friday June 12, 2020 @07:47PM (#23505125)

> What's great about the market is that it's a self-fulfilling prophecy. If you're wrong, and everyone else wrong, you all become wrong. The only way to, in fact, be wrong, is if everyone else disagrees with you. So what makes your decision wrong is the fact that you were the only one to make it.

I feel bad that I even have to ask, but is this satire?

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Re:Bankrupt Hertz targets Robinhood traders in plot to dump ... by awinder on Friday June 12, 2020 @07:38PM (#23505058)

Icahn got in in 2014 when the stock price was in the $50-100/share range, he could have been less-dead on the deal if he hit dumb luck timing. Shares are still going to 0, this is a new offering on a company in bankruptcy court and deep debt and structural problems. Maybe these robinhood jokers will survive grabbing the third rail barehanded but that doesn’t make them smart, it just makes them lucky idiots.

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Re:Bankrupt Hertz targets Robinhood traders in plot to dump ... by Waterluvian on Friday June 12, 2020 @07:32PM (#23505006)

Hard no. A favorable outcome doesn't convey rationalism upon the arguments used to justify the action.

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Re:Bankrupt Hertz targets Robinhood traders in plot to dump ... by arkis22 on Friday June 12, 2020 @07:40PM (#23505079)

Even Wile E. Coyote falls when he looks down after running off a cliff.

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Re:Bankrupt Hertz targets Robinhood traders in plot to dump ... by marta_morena_24 on Friday June 12, 2020 @07:34PM (#23505025)

Yeah regards from Bitcoin. Your logic is impeccable.

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