I have a question regarding the social media aspect. My understanding is that WSB is an anonymous subReddit open to anyone to chat about the market. Some posters may be off-duty financial professionals, and others are doctors, lawyers, plumbers, etc. So, was the analysis of Melvin's shorting of GME based on open source information? Is the data public data? Or did it have to come from an insider? If this is open source info, then people should be free to spend time and energy discussing it, without ANY fear of being charged with collusion or manipulation of the markets. If it was from leaked info, that is a whole other story. But, my understanding is that this is public data. Am I wrong?
I don't see how open discussion of open source info can be considered a crime. I also don't see how the action of multiple random anonymous people can be deemed manipulation. The market functions every day under a system of manipulation if mere talk of stocks and forecasting by talking heads is considered interference. The social media platforms should be protected from liability by Section 230. Yet, we've seen WSB and FB discussion groups temporarily shut down before reopening. Seems like the little guys have really spooked the fat cats.
If this goes on much longer, and real pain is being felt by the HFs, don't be surprised to see a smear campaign orchestrated against these WSB-type forums. When they cannot legitimately complain that something illegal is being done by the retailers, they will use other attacks. They will throw every single negative stereotype at them, to try to scare some away. I wouldn't be shocked if they claim racism and hate speech on these sites warrants their closing down. They don't want you to be able to talk to one another, because together you are stronger and a real force to be reckoned with.
www.wallstreetoasis.com
www.nbcnews.com
and not counting retail ownership.