WTF ? You guys must get conned all of the time !! If so, please get out of this businesss ! He's slick, he's shrewd, he's really smart. He set-up a scheme based on Wicker, a powerful encrypted, private, and temporary messsaging sight. He would would message them (his trading friends) to GO, GO, GO LONG....and his henchmen would pile into long options positions all at once. This would swamp market makers like like Citadel. They would have to react by selling GED call options and THEN covering with long equity GED positions....thus forcing the GED equity price ever higher. It was a sell-feeding mechanism. Beautifully architechted. Everyone is talking about shorts, but that was total B.S.. Misdirection....a classic fraud techniquue. Wow, both SEC and ET Traders are going to so fooled by this ruse.
you make me want to check to see if my toaster is waterproof. bottom line...nobody clicks the buy or sell button but the person buying or selling. I suck at trading and even i know shorting a stock with the momentum of a freight train is some handicapped garbage...now this "boody hoo hoo i lost money because retails united in a single direction and i got squeezed to death" so lame man. bad form indeed.
You are an idiot. RK friends on wicker do not have enough money nor the manpower to move the market. That fact alone shits on your entire premise. What it sounds like is that you were the dumbass that got conned and now you want to see him burn because you lost money like the idiot you are. STFU. You know nothing, and making statements like "get out of this business" doesnt bring credibility to you, it actually makes you suspicious - guarantee you dont know HALF the shit you think you do.
Ummm... Dude... what are you babbling about? In the USA, GED does not even appear to be a valid stock symbol. BMK
@syswizard What exactly is GED? Are you talking about that exam you passed a couple years after you dropped outta high school?
I thought we did pretty good trading GME, did anyone on Elite get hurt by selling Naked $50 Feb 19 Calls before the surge to $475?
I think just using a platform to manipulate a stock by leveraging the power of your followers buying power to pump the share price, no matter what his actions following its rise were, benefitted him. Now, he may have held onto the stock following its cataclysmic reversal back down explicitly for the purpose of feigning being a result of his own monster, but he has ultimately still benefitted as he bought the shares when GME was like $4.xx a share. It's currently 10 bagging that price.
https://lawandcrime.com/high-profil...stors-have-revolted-and-stormed-the-bastille/ SEC laws indicate you cannot commit fraud, manipulation or collusion in a securities transaction. I believe there was collusion amongst the Reddit and Robinhood cohort in this case with massive, simultaneous buying of call options causing market makers to scramble to cover their option selling. Of course, this also burnt the hedge funds who were net short......further fueling the rapid, upward move in price. Forget the retail shorts....Robinhood accounts cannot even go short. Hedgies and market makers got burnt here hugely.....and Roaring Kitty knows it....look at that smirk. Hope he testifies today at the congressional hearing.