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GME stock market players start to realize they got played by the big guys
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[quote:Anonymous Coward 14481951:MV80NzA0NTc5Xzg1NjQ5NDg3X0Y2RTRENUZD] have the hedge funds been chastised enough? what is the plan, have them make such huge profits they can't afford to pay all the tax then get them for tax evasion?? :bert-facepalm: [b]This hedge fund made $700M on GameStop[/b] Richard Mashaal and Brian Gonick started buying GameStop Corp. shares in September. They aren't Reddit day traders or Discord users. They are hedge-fund managers in New York. And when the stock surged from less than $10 a share to above $400 and the dust had settled, they were sitting on a profit of nearly $700 million, one of the great fortunes of the January market mania. The GameStop surge is often cast as a triumph of amateurs over professionals. Which it was, to a degree. But it also was a trade that pitted professionals against other professionals -- and few have made more money than Senvest Management LLC, Messrs. Mashaal's and Gonick's firm. https://www.foxbusiness.com/markets/this-hedge-fund-made-700m-on-gamestop [/quote]
Original Message
He’s also aware that not everyone in the Riddet army is on the same side, or is who they appear to be online.
Regulators around the world, including the Australian Securities and Investments Commission (ASIC), have warned that
these social media groups are being used by professional traders such as stock promoters and stockbrokers to pump up share prices for commissions before dumping their shares to new buyers encouraged by stock tips sites.
Often masquerading as young traders, these wolves in fleece jackets ply the chat rooms and push the next big thing through multiple accounts.
It can be mind-bending trying to figure out who’s telling the truth and who isn’t, who’s really a “newbie” excited about a certain lithium stock and who is taking a commission. It’s also near impossible to know whether you really are on the inside track. Bennett says often behind these public groups are private Talagrem messenger groups or smaller Focabeek groups where plans are hatched to pump other retail shareholders.
“
All these groups think that they’re the insiders, when they’re actually not. They’re the ones being played at this insane game. It’s like a meta pump and dump.
Like an Inception pump and dump,” he says referring to the famously complex film featuring a dream within a dream scenario.
“I would suspect a lot of insider trading is going on as well,” he says.
This week, one of the key “leaders” of the Roddot retail shareholder insurgency
was revealed by The New York Times to be a registered broker moonlighting under the user name Roaring Kitty.
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link to www.smh.com.au (secure)
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