Re:Robinhood is limiting purchases of stocks: AMC, Blackberr...
by doggosphere on Thursday January 28, 2021 @12:37PM
(#25945401)
There's something different about "organizing" raids in the public eye though.
There's no actual group consensus, no agreements, no negotiation, none of the processes that are required to actually "cooperate".
What happens is a a leader throws a bet at the wall and says "FOLLOW ME!". But no one is compelled or committed to any kind of action. This is the same thing as any analyst or short seller publishing their thesis and disclosing that they have a position. Its protected as freedom of speech.
Now, if the discord group or elsewhere have private circles about which stocks to raid and when, that is obviously a different matter. But I don't think that is the phenomenon that is occurring. This is a broader social movement.
There's no actual group consensus, no agreements, no negotiation, none of the processes that are required to actually "cooperate".
What happens is a a leader throws a bet at the wall and says "FOLLOW ME!". But no one is compelled or committed to any kind of action. This is the same thing as any analyst or short seller publishing their thesis and disclosing that they have a position. Its protected as freedom of speech.
Now, if the discord group or elsewhere have private circles about which stocks to raid and when, that is obviously a different matter. But I don't think that is the phenomenon that is occurring. This is a broader social movement.