NEW -> Contingent Buyer Assistance Program
1980 Hurricane season was tied at the time for most named storms. It did $1.57 billion in damage in the USA.
The 2020 Hurricane season is the new champ and weighs in at $54.51 billion in damage (and probably still counting).
Unregulated pollution is the biggest Government hand out.
The only reason the losses are so high now is the value of that coastal real estate and allowing people to develop flood basins and fire zones. The value is driven by so many people allowed to develop those places. If you live in a flood or fire zone (as I do) you accept and probably insure your risk...it is on you.
Being a retard is a badge of honor on wallstreetbets Loss Porn rules supreme. Calling wallstreet bets subscribers retards is exactly why it's so popular. You can lose your life savings and everyone will call you a dumb fucking retard..and you become more popular.
Okay, choose any of 1344 superfund sites.
>
And like Exide Vernon, going to skate away.
Let's be honest though, let to their on recognizance, business would have water in Long Beach port burning like the Cuyahoga River in no time.
If you dive a little deeper into this, it becomes a lot more than just retail investors vs. hedge funds.
Regulators fell asleep at the switch, allowing a stock to be shorted 140% of available shares should have been the bigger story to begin with.
WSB showed how easily finance reporters and regulators default to defending the hedge funds they're supposed to be holding accountable.
Unfortunately that's not sexy enough to grab headline attentions...
so we are stuck with this "oh no! the wrong people are manipulating the stock market" narrative.
The notion that any of these TV personalities or professional traders ever cared about regular people losing their life savings and/or ruining their lives is laughable.
This has always been a zero sum game.
All the negative press on WSB is just clown talk. It's the exact behavior financial reporters praise as visionary when a hedge fund wunderkind pulls it off.
While I agree there was likely a regulatory shortfall, I don't really think it was in allowing the short interest to high. In my opinion, if you look at the chart and timing, the WSB noise on the 13th and through the 21st it was a minor squeeze event.
Then it totally blew up. Blew up right when all the financial media started picking up the story. CNBC, Motley Fool, down to the youtubers blaring easy $200 Grand a year.
JIMHO, the bulk of financial media is a boiler room pumping panic and hype on everything for eyeballs. Newsmax for the jonesing to be rich. That's the regulatory gap, IMHO.
Agree on media being a significant driving force behind this Gamestop squeeze. But this likely would not have happened if regulators stopped GME stocks from being shorted 140%.
There is zero fundamentals to backup the shorts. Shorting 140% of a company's total stock makes zero mathematical sense.
There's definitely an elemental of YouTube influencers, internet celebs, and other loosely organized capitals joining the pile-on, but this was fundamentally a trade that started by retail investors catching hedge fund managers with their pants down.
Also I think it's morally bankrupt to make the case against mass media / alternative media hyping the Gamestop squeeze when we legally allow hedge fund managers to go CNBC / CNN Business to pump/dump their stock picks while claiming to be "net neutral". There's no fundamental difference between the two.
For people who are not familiar with stock trading, hedge fund managers claiming to be "net neutral" while pumping their stock pick is the biggest scam BS that's regularly seen on CNBC.
Lastly. I agree with SGIP that we are in desperate need of a financial transaction tax. (and more transparency regulations)
There is a lot of conflict on interest going on. The hedge fund CITADEL has huge short positions on Gamestop stock. CITADEL also pays Robinhood for their order flows, about 40% of CITADEL revenue is from Robinhood.
If you had any doubts about America's priorities, just watch how this unfolds. I can almost guarantee the government will respond faster to a hedge fund losing money to reddit memes than it did to the capitol coup.
nosuchreality
Well-known member
morekaos said:
1980 Hurricane season was tied at the time for most named storms. It did $1.57 billion in damage in the USA.
The 2020 Hurricane season is the new champ and weighs in at $54.51 billion in damage (and probably still counting).
Unregulated pollution is the biggest Government hand out.
morekaos
Well-known member
I'm OK with the government subsidizing the food you eat...but just so you can drive a "neat" car, that makes you "think" you're saving the planet (when you are actually helping destroy it)?....not so much...
Tesla's Biggest Profit Driver Isn't Sustainable
Tesla's core business of selling electric vehicles to consumers still isn't profitable on its own.
Regulatory credits drive Tesla's profit
In the first quarter, Tesla booked $354 million of regulatory credit revenue: up 64% year over year. This accounted for 6.9% of the company's automotive revenue and 5.9% of its total revenue. Considering that Tesla's Q1 operating profit and net income totaled just $283 million and $16 million, respectively, this revenue stream represented the difference between a net profit and a significant loss.
A similar dynamic played out last quarter. Revenue from regulatory credits surged 21% sequentially and 286% year over year, reaching $428 million. That translated to 8.3% of automotive revenue and 7.1% of total revenue. Once again, regulatory revenue was the difference between turning a profit and losing money. Tesla posted an operating profit of $327 million and GAAP net income of $104 million last quarter.
These regulatory credits have been in demand recently, as major automakers haven't been building enough "green" vehicles to meet regulatory requirements in certain regions. Rather than paying the resulting fines or pumping out low-quality electric vehicles at a substantial loss, many automakers have found it more cost-effective to purchase extra regulatory credits from Tesla.
https://www.fool.com/investing/2020/07/26/teslas-biggest-profit-driver-isnt-sustainable.aspx
Tesla's Biggest Profit Driver Isn't Sustainable
Tesla's core business of selling electric vehicles to consumers still isn't profitable on its own.
Regulatory credits drive Tesla's profit
In the first quarter, Tesla booked $354 million of regulatory credit revenue: up 64% year over year. This accounted for 6.9% of the company's automotive revenue and 5.9% of its total revenue. Considering that Tesla's Q1 operating profit and net income totaled just $283 million and $16 million, respectively, this revenue stream represented the difference between a net profit and a significant loss.
A similar dynamic played out last quarter. Revenue from regulatory credits surged 21% sequentially and 286% year over year, reaching $428 million. That translated to 8.3% of automotive revenue and 7.1% of total revenue. Once again, regulatory revenue was the difference between turning a profit and losing money. Tesla posted an operating profit of $327 million and GAAP net income of $104 million last quarter.
These regulatory credits have been in demand recently, as major automakers haven't been building enough "green" vehicles to meet regulatory requirements in certain regions. Rather than paying the resulting fines or pumping out low-quality electric vehicles at a substantial loss, many automakers have found it more cost-effective to purchase extra regulatory credits from Tesla.
https://www.fool.com/investing/2020/07/26/teslas-biggest-profit-driver-isnt-sustainable.aspx
morekaos
Well-known member
nosuchreality said:
The only reason the losses are so high now is the value of that coastal real estate and allowing people to develop flood basins and fire zones. The value is driven by so many people allowed to develop those places. If you live in a flood or fire zone (as I do) you accept and probably insure your risk...it is on you.
zubs
Well-known member
Kenkoko said:
Being a retard is a badge of honor on wallstreetbets Loss Porn rules supreme. Calling wallstreet bets subscribers retards is exactly why it's so popular. You can lose your life savings and everyone will call you a dumb fucking retard..and you become more popular.
morekaos
Well-known member
The first law suits are Wheels Up!!... ;D ;D >
Robinhood sued by customers for restricting GameStop trading
Reddit-driven investment had seen stock price spike 700 per cent in just days
Robinhood customers have sued the stock trading firm after it restricted the Reddit-driven trading frenzy surrounding GameStop.
Robinhood was named as defendant in a pair of federal lawsuits filed by disgruntled customers in New York and Chicago.
The legal action came after the company on Thursday that in that some cases amateur investors would only be able to sell their positions and not open new ones.
The unusual move came as a reaction to the wild investment in GameStop that has piled up huge losses for hedge funds and Wall Street investors with short positions.
https://www.independent.co.uk/news/world/americas/gamestop-robinhood-stocks-trading-lawsuits-b1794312.html
Robinhood sued by customers for restricting GameStop trading
Reddit-driven investment had seen stock price spike 700 per cent in just days
Robinhood customers have sued the stock trading firm after it restricted the Reddit-driven trading frenzy surrounding GameStop.
Robinhood was named as defendant in a pair of federal lawsuits filed by disgruntled customers in New York and Chicago.
The legal action came after the company on Thursday that in that some cases amateur investors would only be able to sell their positions and not open new ones.
The unusual move came as a reaction to the wild investment in GameStop that has piled up huge losses for hedge funds and Wall Street investors with short positions.
https://www.independent.co.uk/news/world/americas/gamestop-robinhood-stocks-trading-lawsuits-b1794312.html
nosuchreality
Well-known member
morekaos said:
Okay, choose any of 1344 superfund sites.
sgip
Well-known member
RE: @Morekaos hurricane post - some scaling for perspective:
Florida population 1980 - 10.19m
Florida population 2020 - 21.9m
I'm sure the same population growth could be statistically researched for all Eastern Seaboard states, but showing 1 state to start.
Also, $1.57b 1980 dollars priced in 2020 dollars is $5.25b
Using far lower population density (read: Housing) and not factoring dollar inflation gives a false impression of damage costs YOY. Just because the costs are higher does not directly indicate (key words) catastrophic climate change.
Florida population 1980 - 10.19m
Florida population 2020 - 21.9m
I'm sure the same population growth could be statistically researched for all Eastern Seaboard states, but showing 1 state to start.
Also, $1.57b 1980 dollars priced in 2020 dollars is $5.25b
Using far lower population density (read: Housing) and not factoring dollar inflation gives a false impression of damage costs YOY. Just because the costs are higher does not directly indicate (key words) catastrophic climate change.
nosuchreality
Well-known member
morekaos said:
>
And like Exide Vernon, going to skate away.
Let's be honest though, let to their on recognizance, business would have water in Long Beach port burning like the Cuyahoga River in no time.
nosuchreality said:
If you dive a little deeper into this, it becomes a lot more than just retail investors vs. hedge funds.
Regulators fell asleep at the switch, allowing a stock to be shorted 140% of available shares should have been the bigger story to begin with.
WSB showed how easily finance reporters and regulators default to defending the hedge funds they're supposed to be holding accountable.
Unfortunately that's not sexy enough to grab headline attentions...
so we are stuck with this "oh no! the wrong people are manipulating the stock market" narrative.
zubs said:
The notion that any of these TV personalities or professional traders ever cared about regular people losing their life savings and/or ruining their lives is laughable.
This has always been a zero sum game.
All the negative press on WSB is just clown talk. It's the exact behavior financial reporters praise as visionary when a hedge fund wunderkind pulls it off.
irvinehomeowner
Well-known member
TSLA is ridiculous... but they are also the EV market leader.
Just wait until "somebody" brings back their Fed credit.
Just wait until "somebody" brings back their Fed credit.
nosuchreality
Well-known member
Kenkoko said:
While I agree there was likely a regulatory shortfall, I don't really think it was in allowing the short interest to high. In my opinion, if you look at the chart and timing, the WSB noise on the 13th and through the 21st it was a minor squeeze event.
Then it totally blew up. Blew up right when all the financial media started picking up the story. CNBC, Motley Fool, down to the youtubers blaring easy $200 Grand a year.
JIMHO, the bulk of financial media is a boiler room pumping panic and hype on everything for eyeballs. Newsmax for the jonesing to be rich. That's the regulatory gap, IMHO.
sleepy5136
Well-known member
Robinhood CEO interview was a joke. The CEO mentioned they decided to halt buy orders for certain stocks because of a liquidity issue. The moderator then asked what liquidity issue is there and if there is it would lead to more questions. He then immediately said there were no liquidity issues right after. Like what the hell...?
nosuchreality said:
Agree on media being a significant driving force behind this Gamestop squeeze. But this likely would not have happened if regulators stopped GME stocks from being shorted 140%.
There is zero fundamentals to backup the shorts. Shorting 140% of a company's total stock makes zero mathematical sense.
There's definitely an elemental of YouTube influencers, internet celebs, and other loosely organized capitals joining the pile-on, but this was fundamentally a trade that started by retail investors catching hedge fund managers with their pants down.
Also I think it's morally bankrupt to make the case against mass media / alternative media hyping the Gamestop squeeze when we legally allow hedge fund managers to go CNBC / CNN Business to pump/dump their stock picks while claiming to be "net neutral". There's no fundamental difference between the two.
For people who are not familiar with stock trading, hedge fund managers claiming to be "net neutral" while pumping their stock pick is the biggest scam BS that's regularly seen on CNBC.
Lastly. I agree with SGIP that we are in desperate need of a financial transaction tax. (and more transparency regulations)
sleepy5136 said:
There is a lot of conflict on interest going on. The hedge fund CITADEL has huge short positions on Gamestop stock. CITADEL also pays Robinhood for their order flows, about 40% of CITADEL revenue is from Robinhood.
If you had any doubts about America's priorities, just watch how this unfolds. I can almost guarantee the government will respond faster to a hedge fund losing money to reddit memes than it did to the capitol coup.
If worthless companies go sky high. I am out of the stock market.
I see another crash based on valuation.
I was watching CNBC and they said the market cap of GME was bigger than Delta airlines.
If GME management was smart they would issue more shares.
(Auto type feature has been finding me problems on my end)
I see another crash based on valuation.
I was watching CNBC and they said the market cap of GME was bigger than Delta airlines.
If GME management was smart they would issue more shares.
(Auto type feature has been finding me problems on my end)