Re:Discord bans r/WallStreetBets server, subreddit went priv...
by short_sells_poo on Thursday January 28, 2021 @01:54PM
(#25946985)
What the hell are you on about? For once, you know nothing about me and second, you are attacking a strawman. I said nothing about there being only one legitimate reason to trade a stock.
I am fully aware that you can buy or sell stocks for a myriad reasons, including meming. What is against the rules is trading stocks with the express intent of manipulating the market and deliberately squeezing other participants. This is exactly what was being pushed by WSB.
If you want to engage in adult debate, please refrain from personal accusations and strawmen.
Re:Discord bans r/WallStreetBets server, subreddit went priv...
by ClumsyPilot on Thursday January 28, 2021 @06:09PM
(#25950856)
Perhaps I was a bit unfair, but I do believe that your accusations of criminality are unfunded. Noone credible has yet called it fraud, and if indeed it was, authorities would have stepped in long time ago.
https://www.bloomberg.com/news/videos/2021-01-28/gamestop-fr...
Stock can be bough for reasons that have nothing to do with it's market value.
I can buy a stock because i want to own it, maybe i want the voting rights, maybe i want to have standing so that i can file a lawsuit for securities fraud. Maybe i am planning hostile takeover. Maybe I want to proudly hang it at my door.