Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buyers Admit They Messed Up

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by malwarebytess on Saturday February 06, 2021 @03:14AM (#26045077)

I think there's going to be some level of litigation and maybe prosecution at the end of this. It was clear by last thursday at least what was happening, and yet there were multiple actors -- some of them organized -- trying to pump the stock and persuade people to keep buying.

One example that may not be criminal but is certainly suspect is the "top moderators" on reddit's WallStreetBets sub seem to have been suppressing all posts about $GME that weren't pumping the stock, quite thoroughly, until reddit staff stepped in and removed them. Some screenshots flying around that appear to depict the same moderators discussing payouts and investors. Doesn't seem right.

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Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by pjc50 on Saturday February 06, 2021 @07:19AM (#26046062)

At least one of the possible instigators, a financial advisor, is under investigation: https://markets.businessinsider.com/news/stocks/gamestop-red...

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Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by voisin on Saturday February 06, 2021 @09:44AM (#26046799)

I don’t see what he did as wrong. He seems to be caught in a technicality in that he has a broker license (though was not, in his day job, in a role advising on investments), but never used his role (or even identified his role - or even his name for someone else to identify him and his brokerage license and consequently rely on his licensing in making their own decisions) to cause others to make investment decisions. He simply presented his own due diligence on the stock, which is only “wrong” in this cause because unbeknownst to viewers he has his brokerage license.

I think it is ludicrous that they are going after him.

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