{"id":32075,"date":"2021-02-02T23:52:02","date_gmt":"2021-02-03T05:52:02","guid":{"rendered":"http:\/\/huewhite.com\/umb\/?p=32075"},"modified":"2021-02-02T23:52:02","modified_gmt":"2021-02-03T05:52:02","slug":"the-market-seems-jumpy-ctd-25","status":"publish","type":"post","link":"https:\/\/huewhite.com\/umb\/2021\/02\/02\/the-market-seems-jumpy-ctd-25\/","title":{"rendered":"The Market Seems Jumpy, Ctd"},"content":{"rendered":"

The Gamestop<\/strong><\/em> incident<\/a> may be nearing its end as the GME stock share price dropped 60%<\/strong> today to $90\/sh, and a bit more in “after hours” trading. Its high during this episode was $468\/sh<\/strong>. A month ago? $17\/sh.<\/p>\n

It may have a ways to drop. AMC<\/strong><\/em>, while also dropping, still has a way to go. Buying now, hoping for a rebound of interest from the reddit<\/strong><\/em> army, would take some real brass balls and an appetite for risk greater than mine – and I’m told I’m a few standard variations away from the average when it comes to risk.<\/p>\n

Analyses of past and current events are beginning to come in. Here’s CNN<\/strong><\/em><\/a>:<\/p>\n

GameStop stock madness is still going on, now with\u00a0rogue online investors apparently turning their interest to silver<\/a>. Silver prices yesterday jumped 13% to an eight-year high after some online investors suggested dumping money into silver would hurt big banks they believe are artificially suppressing prices. However, others believe the new push is being co-opted by hedge funds to move pressure off the GameStop rally. The CEO of Robinhood, the trading app used by some of these investors to buy stocks, says the company’s\u00a0clearinghouse asked it to pony up $3 billion in capital<\/a>\u00a0following last week’s surge — a sign of the intense financial pressure facing the startup.<\/p><\/blockquote>\n

I’ve always considered the precious metals fiends to be conspiracy-minded, led back in the day by now-retired Representative Ron Paul (R-TX), father of the flake’s flake Senator Rand Paul (R-KY), who advocated a return to the gold standard and was apparently quite vociferous on the matter – without, perhaps, quite understanding it.<\/p>\n

But the other half of the analysis, the suggestion that the reddit<\/em><\/strong> army is vulnerable to subversion, rings true to me. After all, there’s not much in the way of verification on the Internet, while the operations of communication are greased by the Internet. The possibility of manipulation by larger players seems quite likely. Here’s WaPo<\/strong><\/em>\u00a0on the same subject:<\/p>\n

This tale of small investors vs. large institutions also\u00a0<\/b>is not as straightforward as it seems. Along with the retail hordes on Reddit, wealthy investors played an important role in GameStop\u2019s rise. The company\u2019s largest shareholders, according to the most recent securities filings, are Fidelity Investments and BlackRock, two of Wall Street\u2019s most powerful players.<\/p>\n

Some of the average investors on the popular message boards have financial industry experience, including at firms like Goldman Sachs. And many analysts say that some of those posting on the site are probably institutional investors posing as individuals.<\/p>\n

\u201cThis is not entirely a David v. Goliath story. There are some sophisticated resources on both sides of these trades,\u201d said Tyler Gellasch, executive director of the nonprofit Healthy Markets Association and a former Securities and Exchange Commission counsel.<\/p><\/blockquote>\n

The suggestion that BlackRock<\/em><\/strong> may be the real power behind the Gamestop, AMC<\/strong><\/em>, and other manipulations of company stocks is certainly a believable assertion, and no joke.<\/p>\n

This is still an evolving story, and should prove quite interesting.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Gamestop incident may be nearing its end as the GME stock share price dropped 60% today to $90\/sh, and a bit more in “after hours” trading. Its high during this episode was $468\/sh. A month ago? $17\/sh. It may have a ways to drop. AMC, while also dropping, still \u2026 Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-32075","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/32075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/comments?post=32075"}],"version-history":[{"count":1,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/32075\/revisions"}],"predecessor-version":[{"id":32076,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/32075\/revisions\/32076"}],"wp:attachment":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/media?parent=32075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/categories?post=32075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/tags?post=32075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}