Yellen should step down because RH is doing shady shit after she was appointed?
What are you accusing or implying? The government has stayed out of it…
This is a private company (RH) choosing to protect their biggest investor over their retail investors.
If you aren’t aware, RH makes money off of selling the data that users create in trade patterns. They sell that to firms so they can create algos that manipulate stock.
RH was already a huge issue before covid gave millions a way too simple platform to trade without having done any research themselves. You’ve got them blindly following reddit and twitter.
So that is clear manipulation to be fair… and hedge funds are pissed that they’re getting a taste of their own medicine.
But back to the free market… RH probably dug their grave with this. There will be a mass exodus from the app, and their upcoming IPO will be destroyed. No retail will touch it. I’d be shocked if they moved forward with it.
In the end they either need to strengthen regulations around market manipulation, particularly shorting a stock, OR they need to let it all go… (which they won’t)
I really think shorting a stock is absolutely unnecessary for the industry. Get rid of it… it’s one thing to not invest in a company, it’s another to drive it into the ground.
You see it with a ton of heavily shorted companies outside of $gme and $amc:
The list goes on. They basically banned purchasing any stock that is heavily shorted so the hedge funds can cover.
Shorting is stupid
PewterReport.com prides itself on being the most complete, comprehensive news source covering the Tampa Bay Buccaneers and delivering inside scoop on the team found nowhere else.