Originally Posted by duck911
this is pretty unprecedented


No it isn't.

Do you think these hedge funds aren't manipulating the market? They aren't colluding with one another? With their friends in the media? When Tesla was one of the most shorted companies, do you think the thousands of articles that Bloomberg and CNBC and Motley and the like aimed at retail investors about how their business model was untenable were just independent organic outpourings of genuine concern for everyone's finances? Gamestop got this same treatment.

Robinhood receives a good portion of their revenue from Citadel by selling trading data. Where people are setting limits, order queues, etc etc. so Citadel can feed that information into their HFT. This is a business where getting information a few fractions of a second faster than your opponent makes a difference and the people involved are operating with wildly different sets of information and power positions.

It was not out of concern for their users that some (((brokerages))) suspended buys, it was so the affected funds would keep paying them for data.

It was not out of concern for their users that Google deleted thousands of 1 star reviews for the Robinhood app, it because Google is (((connected))) to those same funds.

It was not out of concern for their readers that Jewsweek published this, it was to keep more normans from buying GME.

We can either have an economy that is incentivized to produce genuine value that improves our lives or we can have one that is manipulated to serve the financial interests of a narrow slice of ~2.5% of the population. There are no new Remington 700s on shelves not because producing them is not a viable business model, but because people like the "victims" in this short squeeze used the above network of professional manipulators to drain all of its financial value into their bank account and then were allowed to walk away with everyone else having to deal with Remington's corpse. You are arguing for more of that, I'm arguing for less.

https://duckduckgo.com/?q=%22Short-...ame+for+years%2C%22&t=osx&ia=web