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Illegal Tactics and DTCC/Prime Broker Complicity In Naked Shorting & Retail Shutdown of GME (DTCC/Prime Brokers decision makers need to be questioned at the 2/18 GameStop Congress hearing)

TLDR: GameStop’s Congress hearing is on Feb 18th, they need to investigate the Prime Brokers and DTCC for their complicity in enabling naked shorting within GME and by extension, potential collusion to shut down trading on Jan 28th, the day the short squeeze was going to kick off. (stick to the end for an analysis of some illegal tactics short side hedge funds have been using)
Thesis: On the day the retail market for GME shut down on 1/28 (the day the short squeeze would’ve happened had there been no market intervention), DTCC (clearing house monopoly) shut down retail buying in order to protect itself and Prime Brokers (which privately own the DTCC) from being exposed to the consequences of being party to illegal activity. I believe Prime Brokers and DTCC need to be called to the GameStop hearing on February 18th to be questioned for their complicity in enabling illegal naked shorting of the GME stock, as well as potential collusion to shut out retail buyers on 1/28.
In my previous post (which I recommend reading for some context) I explored the subject of rampant illegal naked shorting in GME, and how Prime Brokers (consisting of banks like Goldman, Morgan, etc) and DTCC would be complicit in the naked shorting. This in turn raises the thought experiment that they would be incentivized to do anything possible to prevent the short squeeze from happening on 1/28 because had the short squeeze happened, the shorts would go bankrupt and their Prime Brokers who lent them their naked shorted shares would need to cover the shares. This would not only represent a humongous capital expense for Prime Brokers, the culpability of Prime Brokers (and that of the DTCC) in this situation would also have likely been exposed as well.
A quick primer on what a Prime Broker is: Prime Brokers are essentially the service side of the short- selling business. They lend out securities and cash, you can think of them as the “house” in a casino: They provide a gambler with markers to play and to manage his winnings. According to Matt Taibi, “Under the original concept, if a hedge fund that wanted to short a stock they would first need to “locate” the stock with his Prime Broker but as time passed, Prime Brokers increasingly allowed their hedge-fund customers to use automated systems and “locate” the stock themselves, and what this does is enable short-sellers to sell stock without delivering and thereby perform naked shorts with counterfeit shares. (source: https://web.archive.org/web/20210213125246/https://www.rollingstone.com/feature/wall-streets-naked-swindle-194908/). (I highly recommend you read Matt Taibi’s article on naked shorting and how it was used to take down Bear Stearns and Lehman Brothers. There are so many parallels with GME it’s hard to miss. It’s amazing to consider that 12 years after this article was published and brought to public awareness, the problem of naked shorting still exists as a systemic issue.)
Prime Brokers have a long history of being associated with naked shorting. To highlight a few examples, Prime Brokers like Merill Lynch and Goldman have long been implicated for naked shorting Overstock.com (https://www.rollingstone.com/politics/politics-news/accidentally-released-and-incredibly-embarrassing-documents-show-how-goldman-et-al-engaged-in-naked-short-selling-244035/, https://www.forbes.com/2007/02/02/naked-short-suit-overstock-biz-cx_lm_0202naked.html?sh=271400d1763f). Another example is when Goldman’s Prime Brokerage was implicated by the SEC in 2016 and got away with a small fine of 16 million (Source: https://www.sec.gov/news/pressrelease/2016-9.html). An example that very recently came in the news is a story where CIBC, BOA, UBS and TD Bank Prime Brokerages are accused of facilitating naked short selling and using counterfeit stock to attack and bring the stock price of a company from $34.77 to $1.83 (Source: https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article_id=224548).
The DTCC also has a very long history of being associated with naked shorting. The Wall Street Journal noted that 1% of the DTCC’s volume end in failure to deliver which “have put DTCC in the middle of a long-running fight over whether unscrupulous investors are driving down hundreds of small companies' share prices… DTCC has turned a blind eye to the naked-shorting problem. ” (Source: https://www.wsj.com/articles/SB118359867562957720). The DTCC has also had numerous complaints submitted to the SEC for enabling naked shorting (source: https://www.sec.gov/rules/proposed/s72303/decosta122203.htm) and have been sued tens or hundreds of times for assisting naked shorts (source: https://smithonstocks.com/part-3-in-series-on-illegal-naked-shortings-role-in-stock-manipulation-prime-brokers-and-the-dtcc-have-a-troubling-monopoly-on-clearing-and-settling-stock-trades/ and http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html and https://www.wsj.com/articles/SB118359867562957720)
On 1/28 Robinhood received a letter from the DTCC at 4 am requiring them to halt trading or come up with 3 billion dollars, which Robinhood did not have, and therefore with one swoop of the pen the DTCC shut down buy side momentum but strangely allowed selling. Retail investors were shut out of the market and as any student of microeconomics would know, by shutting buy but only allowing sell, the price is bound to fall. Meanwhile while hedge funds were able to keep trading not only in the market but also crosstrade in the dark pools (“private” stock markets that retail is shut out of, more on this later), and use this crucial lifeline given to them by the DTCC to prevent the squeeze from happening that day.
With retail abruptly being shut out from buy (even cash accounts were shut out, which didn’t make sense) and only allowed to sell, almost everyone could smell manipulation was afoot (which triggered the Congress hearing) and the most of the blame was pointed at Robinhood. Personally and in hindsight, I believe Robinhood was just a willing scapegoat. When we think about who had the most to lose if a short squeeze occurred, I’ll narrow it down to three entities, Shorts and their stakeholders (ie Citadel), Prime Brokers and the DTCC.
It’s important to remember that the actual impetus that triggered the shutdown of the market for retail investors came from the DTCC. Working backwards, if you consider that GME was rampantly naked shorted and DTCC and Prime Brokers would have to be complicit in it, I believe the DTCC, Primer Brokers and possibly Citadel (who provides 40% of Robinhood’s revenue) brazenly manipulated the market on 1/28 by shutting down purchasing for retail buyers to prevent the squeeze from being squoze on that day as doing so would be catastrophic for all aforementioned parties involved. I believe that on the upcoming Gamestop Congress hearings the Financial Services Committee needs to call on decision makers of DTCC and Prime Brokers explore their role and complicity in the shut out of retail buyers that day as well as being enablers of naked shorting in GME.
An interesting thought experiment: On 1/28 when the price was 450+ and shorts were likely under 100, if we assume prime brokers allowed naked shorting in GME, then when the squeeze was about to happen (or happening), if Prime Brokers had margin had called the shorts, they would presumably also also gone down because shorts would not be able to pay in that event and the brokers would be holding the bag. By that logic, they have every incentive in this case to NOT to margin call and instead the most logical option would probably would have been to make a backroom deal, which is what I personally think most likely happened.
If you’ve read up to this point, you might be thinking what can I do about this? I am aware that there a lot of cynicism that we can’t do anything, that there will be no justice for retail investors who were harmed this situation, and that institutions and people in power will prevent anything from being done. I feel this sometimes too, but remember:
A single voice can be drowned out, but if we all speak together then we will make our voice heard. Ape Strong Together.
With the hearing coming up on February 18th, I highly recommend you email and tweet the representatives involved in the hearing, as well as your own district representatives, and urge them to read into the factors presented in this post and call the DTCC and Prime Brokers to the hearingl. They need to be questioned on why GME has so many counterfeit shares, failed to deliver, their complicity in naked shorting, and investigated for their role in the retail shut down of 1/28. Below are 4 members of congress I recommend both tweeting and emailing
Alexandria Ocasio-Cortez https://twitter.com/AOC, email: [[email protected]](mailto:[email protected])
Al Green https://twitter.com/repalgreen, email: [[email protected]](mailto:[email protected])
Maxine Waters https://twitter.com/maxinewaters, email: [[email protected]](mailto:[email protected])
Nancy Pelosi Email: https://twitter.com/SpeakerPelosi email: [[email protected]](mailto:[email protected]).
And you can find other members of Financial Services Committee here to reach out to: https://financialservices.house.gov/about/committee-membership.htm
What follows should probably be a separate post, but I will take the opportunity to summarize some of the illegal tactics that shorts have been identified to be using in their war with retail investors. Note that this may not be an exhaustive list and there may be newer tactics deployed in the future. Retail investors might not have the same tricks, resources and willingness to break the law for profit as hedgies do, but my hope and belief is that if we pool our knowledge and analysis, we will figure out their game and effectively adapt.
Feel free to forward the list below to any representatives and lawmakers if you concur that these tactics were used:
Rampant Naked Shorting - With the extremely high number of Fail to Delivers (FTID) , short interest being as high as 226% recently, and institutions alone holding a staggering 177% of the total float (likely due in large part to counterfeit shares), signs strongly point to GME being rampant with naked shorts and counterfeit shares. I believe the original goal of shorts was to drive GME to bankruptcy with these naked shorts, using the laddering of naked shorts (aka short ladder attack), executed with the help of counterfeit stock which is a classic and reliable method of driving down the stock price. I believe the GME stock has seen relentlessly aggressive short attacks, especially on the week of Monday February 1st, which drove the stock price down and triggered panic selling.
Ladder Attacks with the help of Dark Pools - Another identified method of ladder attacks was identified to come from crosstrading with darkpools (the stock market has its own private stock exchange where institutions can trade…). Essentially darkpools are private stock markets retail investors do not have access to, where short side funds can purchase securities “off market” and then sell “on-market”, with the effect of creating a lot more downward pressure on the market without the upward pressure from buying.
Illegally masking shorts with synthetic longs. Another tactic shorts are suspected of using in GME is the use of illegally using options to evade short positions in violation of Reg SHO which SEC describes in this risk alert and which I elaborate in this post. Essentially it’s the use of using options to create synthetic longs to illegally and artificially cover and prolong short positions and at same time obscuring the true short interest %. If you consider that it would be far more profitable for shorts to not cover at high prices but instead ladder attack the price and wait for retail investors to lose interest and close their shorts at as low of a price as possible, then you can see why this strategy would be very effective.
Using way out-of-money call options to obscure true short interest. You may have heard about the 43 million worth of 800 dollar calls purchased when the price was 100 and found it odd. Later it was identified as a tactic to cheaply purchase synthetic call options (since at 800 its way out of money) to obscure their short positions (with the added benefit of hedging at 800 if a squeeze does happen)
One thing I want to note, particularly to legislators at the GameStop hearing: Retail investors were not incited to pump GME. Retail investors spotted a unique Short Squeeze opportunity created by the greed of short side hedge funds, whereby GameStop was being abusively naked shorted with the goal of bringing it to bankruptcy, and hedge funds were so greedy about it that they shorted the company with a short interest of 226% of float, meaning A LOT of counterfeit shares were being used to short the company. Retail investors saw this as an opportunity to short squeeze the hedge fund shorters, which is a legal and legitimate investment strategy. The short squeeze would have happened had everyone played fair, but instead, financial institutions who were culpable to the naked shorting intervened and shut down retail buying, hurting the retail investors and successfully manipulating the market. The investment itself was in my opinion a sound decision based on the short squeeze, but in hindsight retail investors did not seriously consider the risk of the market would be blatantly and publicly manipulated and that the market would be rigged against them.
If this post was useful (and I hope it was! Gave up my Friday night to write this for you Apes), please upvote for visibility and share it far and wide. The GameStop hearings could be a first step and hope towards legislative change, and it’s extremely important that the right story is told at those hearings (and by the right story I mean the real truth of what happened.) I hope the truly culpable parties are investigated and brought to justice. Again, I know many of us feel cynical that anything meaning will be done towards finding justice against the lawbreakers in this case, but if you feel even an ounce of injustice or empathy at how retail investors were unfairly harmed in the course of investing in GME, I strongly urge you to contact a legislator associated with the GameStop hearings and bring this to their attention so they can review this case with more complete information. In addition I recommend you to contact the SEC and any journalist you know or via journalist tip lines. It’s not going to be easy but the more awareness we raise the higher the likelihood our voices will be heard and positive change will be made.
As we navigate the rocky waters ahead, I’ll gift you with a favorite quote of mine:
The only difference between a nightmare and a dream is how big your balls are.
🚀🚀🚀
Disclaimer: I am not an investment advisor, I just like the stock.
Ps. If you’ve read to the end, I’ll leave you with a few more thoughts and reminders:
- If I were to distill life into one thing, it would be to never lose hope.
- Remember that if you’ve lost money in any way shape or form, don’t be depressed, money can always be made back and the important thing is to maintain a good attitude.
- Only invest what you can afford to lose.
- Perhaps the most important factor in good investing is patience.
If you’d like to read more about counterfeiting stocks this is a good place to start http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html
submitted by rainforest11 to DeepFuckingValue [link] [comments]

Illegal Tactics and DTCC/Prime Broker Complicity In Naked Shorting & Retail Shutdown of GME (DTCC/Prime Brokers decision makers need to be questioned at the 2/18 GameStop Congress hearing)

TLDR: GameStop’s Congress hearing is on Feb 18th, they need to investigate the Prime Brokers and DTCC for their complicity in enabling naked shorting within GME and by extension, potential collusion to shut down trading on Jan 28th, the day the short squeeze was going to kick off. (stick to the end for an analysis of some illegal tactics short side hedge funds have been using)
Thesis: On the day the retail market for GME shut down on 1/28 (the day the short squeeze would’ve happened had there been no market intervention), DTCC (clearing house monopoly) shut down retail buying in order to protect itself and Prime Brokers (which privately own the DTCC) from being exposed to the consequences of being party to illegal activity. I believe Prime Brokers and DTCC need to be called to the GameStop hearing on February 18th to be questioned for their complicity in enabling illegal naked shorting of the GME stock, as well as potential collusion to shut out retail buyers on 1/28.
In my previous post (which I recommend reading for some context) I explored the subject of rampant illegal naked shorting in GME, and how Prime Brokers (consisting of banks like Goldman, Morgan, etc) and DTCC would be complicit in the naked shorting. This in turn raises the thought experiment that they would be incentivized to do anything possible to prevent the short squeeze from happening on 1/28 because had the short squeeze happened, the shorts would go bankrupt and their Prime Brokers who lent them their naked shorted shares would need to cover the shares. This would not only represent a humongous capital expense for Prime Brokers, the culpability of Prime Brokers (and that of the DTCC) in this situation would also have likely been exposed as well.
A quick primer on what a Prime Broker is: Prime Brokers are essentially the service side of the short- selling business. They lend out securities and cash, you can think of them as the “house” in a casino: They provide a gambler with markers to play and to manage his winnings. According to Matt Taibi, “Under the original concept, if a hedge fund that wanted to short a stock they would first need to “locate” the stock with his Prime Broker but as time passed, Prime Brokers increasingly allowed their hedge-fund customers to use automated systems and “locate” the stock themselves, and what this does is enable short-sellers to sell stock without delivering and thereby perform naked shorts with counterfeit shares. (source: https://web.archive.org/web/20210213125246/https://www.rollingstone.com/feature/wall-streets-naked-swindle-194908/). (I highly recommend you read Matt Taibi’s article on naked shorting and how it was used to take down Bear Stearns and Lehman Brothers. There are so many parallels with GME it’s hard to miss. It’s amazing to consider that 12 years after this article was published and brought to public awareness, the problem of naked shorting still exists as a systemic issue.)
Prime Brokers have a long history of being associated with naked shorting. To highlight a few examples, Prime Brokers like Merill Lynch and Goldman have long been implicated for naked shorting Overstock.com (https://www.rollingstone.com/politics/politics-news/accidentally-released-and-incredibly-embarrassing-documents-show-how-goldman-et-al-engaged-in-naked-short-selling-244035/, https://www.forbes.com/2007/02/02/naked-short-suit-overstock-biz-cx_lm_0202naked.html?sh=271400d1763f). Another example is when Goldman’s Prime Brokerage was implicated by the SEC in 2016 and got away with a small fine of 16 million (Source: https://www.sec.gov/news/pressrelease/2016-9.html). An example that very recently came in the news is a story where CIBC, BOA, UBS and TD Bank Prime Brokerages are accused of facilitating naked short selling and using counterfeit stock to attack and bring the stock price of a company from $34.77 to $1.83 (Source: https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article_id=224548).
The DTCC also has a very long history of being associated with naked shorting. The Wall Street Journal noted that 1% of the DTCC’s volume end in failure to deliver which “have put DTCC in the middle of a long-running fight over whether unscrupulous investors are driving down hundreds of small companies' share prices… DTCC has turned a blind eye to the naked-shorting problem. ” (Source: https://www.wsj.com/articles/SB118359867562957720). The DTCC has also had numerous complaints submitted to the SEC for enabling naked shorting (source: https://www.sec.gov/rules/proposed/s72303/decosta122203.htm) and have been sued tens or hundreds of times for assisting naked shorts (source: https://smithonstocks.com/part-3-in-series-on-illegal-naked-shortings-role-in-stock-manipulation-prime-brokers-and-the-dtcc-have-a-troubling-monopoly-on-clearing-and-settling-stock-trades/ and http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html and https://www.wsj.com/articles/SB118359867562957720)
On 1/28 Robinhood received a letter from the DTCC at 4 am requiring them to halt trading or come up with 3 billion dollars, which Robinhood did not have, and therefore with one swoop of the pen the DTCC shut down buy side momentum but strangely allowed selling. Retail investors were shut out of the market and as any student of microeconomics would know, by shutting buy but only allowing sell, the price is bound to fall. Meanwhile while hedge funds were able to keep trading not only in the market but also crosstrade in the dark pools (“private” stock markets that retail is shut out of, more on this later), and use this crucial lifeline given to them by the DTCC to prevent the squeeze from happening that day.
With retail abruptly being shut out from buy (even cash accounts were shut out, which didn’t make sense) and only allowed to sell, almost everyone could smell manipulation was afoot (which triggered the Congress hearing) and the most of the blame was pointed at Robinhood. Personally and in hindsight, I believe Robinhood was just a willing scapegoat. When we think about who had the most to lose if a short squeeze occurred, I’ll narrow it down to three entities, Shorts and their stakeholders (ie Citadel), Prime Brokers and the DTCC.
It’s important to remember that the actual impetus that triggered the shutdown of the market for retail investors came from the DTCC. Working backwards, if you consider that GME was rampantly naked shorted and DTCC and Prime Brokers would have to be complicit in it, I believe the DTCC, Primer Brokers and possibly Citadel (who provides 40% of Robinhood’s revenue) brazenly manipulated the market on 1/28 by shutting down purchasing for retail buyers to prevent the squeeze from being squoze on that day as doing so would be catastrophic for all aforementioned parties involved. I believe that on the upcoming Gamestop Congress hearings the Financial Services Committee needs to call on decision makers of DTCC and Prime Brokers explore their role and complicity in the shut out of retail buyers that day as well as being enablers of naked shorting in GME.
An interesting thought experiment: On 1/28 when the price was 450+ and shorts were likely under 100, if we assume prime brokers allowed naked shorting in GME, then when the squeeze was about to happen (or happening), if Prime Brokers had margin had called the shorts, they would presumably also also gone down because shorts would not be able to pay in that event and the brokers would be holding the bag. By that logic, they have every incentive in this case to NOT to margin call and instead the most logical option would probably would have been to make a backroom deal, which is what I personally think most likely happened.
If you’ve read up to this point, you might be thinking what can I do about this? I am aware that there a lot of cynicism that we can’t do anything, that there will be no justice for retail investors who were harmed this situation, and that institutions and people in power will prevent anything from being done. I feel this sometimes too, but remember:
A single voice can be drowned out, but if we all speak together then we will make our voice heard. Ape Strong Together.
With the hearing coming up on February 18th, I highly recommend you email and tweet the representatives involved in the hearing, as well as your own district representatives, and urge them to read into the factors presented in this post and call the DTCC and Prime Brokers to the hearingl. They need to be questioned on why GME has so many counterfeit shares, failed to deliver, their complicity in naked shorting, and investigated for their role in the retail shut down of 1/28. Below are 4 members of congress I recommend both tweeting and emailing
Alexandria Ocasio-Cortez https://twitter.com/AOC, email: [[email protected]](mailto:[email protected])
Al Green https://twitter.com/repalgreen, email: [[email protected]](mailto:[email protected])
Maxine Waters https://twitter.com/maxinewaters, email: [[email protected]](mailto:[email protected])
Nancy Pelosi Email: https://twitter.com/SpeakerPelosi email: [[email protected]](mailto:[email protected]).
And you can find other members of Financial Services Committee here to reach out to: https://financialservices.house.gov/about/committee-membership.htm
If there's one thing I took away from this its that we can't wait for other people to do the right thing, we each need to individually step up to ensure it happens
What follows should probably be a separate post, but I will take the opportunity to summarize some of the illegal tactics that shorts have been identified to be using in their war with retail investors. Note that this may not be an exhaustive list and there may be newer tactics deployed in the future. Retail investors might not have the same tricks, resources and willingness to break the law for profit as hedgies do, but my hope and belief is that if we pool our knowledge and analysis, we will figure out their game and effectively adapt.
Feel free to forward the list below to any representatives and lawmakers if you concur that these tactics were used:
Rampant Naked Shorting - With the extremely high number of Fail to Delivers (FTID) , short interest being as high as 226% recently, and institutions alone holding a staggering 177% of the total float (likely due in large part to counterfeit shares), signs strongly point to GME being rampant with naked shorts and counterfeit shares. I believe the original goal of shorts was to drive GME to bankruptcy with these naked shorts, using the laddering of naked shorts (aka short ladder attack), executed with the help of counterfeit stock which is a classic and reliable method of driving down the stock price. I believe the GME stock has seen relentlessly aggressive short attacks, especially on the week of Monday February 1st, which drove the stock price down and triggered panic selling.
Ladder Attacks with the help of Dark Pools - Another identified method of ladder attacks was identified to come from crosstrading with darkpools (the stock market has its own private stock exchange where institutions can trade…). Essentially darkpools are private stock markets retail investors do not have access to, where short side funds can purchase securities “off market” and then sell “on-market”, with the effect of creating a lot more downward pressure on the market without the upward pressure from buying.
Illegally masking shorts with synthetic longs. Another tactic shorts are suspected of using in GME is the use of illegally using options to evade short positions in violation of Reg SHO which SEC describes in this risk alert and which I elaborate in this post. Essentially it’s the use of using options to create synthetic longs to illegally and artificially cover and prolong short positions and at same time obscuring the true short interest %. If you consider that it would be far more profitable for shorts to not cover at high prices but instead ladder attack the price and wait for retail investors to lose interest and close their shorts at as low of a price as possible, then you can see why this strategy would be very effective.
Using way out-of-money call options to obscure true short interest. You may have heard about the 43 million worth of 800 dollar calls purchased when the price was 100 and found it odd. Later it was identified as a tactic to cheaply purchase synthetic call options (since at 800 its way out of money) to obscure their short positions (with the added benefit of hedging at 800 if a squeeze does happen)
One thing I want to note, particularly to legislators at the GameStop hearing: Retail investors were not incited to pump GME. Retail investors spotted a unique Short Squeeze opportunity created by the greed of short side hedge funds, whereby GameStop was being abusively naked shorted with the goal of bringing it to bankruptcy, and hedge funds were so greedy about it that they shorted the company with a short interest of 226% of float, meaning A LOT of counterfeit shares were being used to short the company. Retail investors saw this as an opportunity to short squeeze the hedge fund shorters, which is a legal and legitimate investment strategy. The short squeeze would have happened had everyone played fair, but instead, financial institutions who were culpable to the naked shorting intervened and shut down retail buying, hurting the retail investors and successfully manipulating the market. The investment itself was in my opinion a sound decision based on the short squeeze, but in hindsight retail investors did not seriously consider the risk of the market would be blatantly and publicly manipulated and that the market would be rigged against them.
If this post was useful (and I hope it was! Gave up my Friday night to write this for you Apes), please upvote for visibility and share it far and wide. The GameStop hearings could be a first step and hope towards legislative change, and it’s extremely important that the right story is told at those hearings (and by the right story I mean the real truth of what happened.) I hope the truly culpable parties are investigated and brought to justice. Again, I know many of us feel cynical that anything meaning will be done towards finding justice against the lawbreakers in this case, but if you feel even an ounce of injustice or empathy at how retail investors were unfairly harmed in the course of investing in GME, I strongly urge you to contact a legislator associated with the GameStop hearings and bring this to their attention so they can review this case with more complete information. In addition I recommend you to contact the SEC and any journalist you know or via journalist tip lines. It’s not going to be easy but the more awareness we raise the higher the likelihood our voices will be heard and positive change will be made.
As we navigate the rocky waters ahead, I’ll gift you with a favorite quote of mine:
The only difference between a nightmare and a dream is how big your balls are.
🚀🚀🚀
Disclaimer: I am not an investment advisor, I just like the stock.
Ps. If you’ve read to the end, I’ll leave you with a few more thoughts and reminders:
- If I were to distill life into one thing, it would be to never lose hope.
- Remember that if you’ve lost money in any way shape or form, don’t be depressed, money can always be made back and the important thing is to maintain a good attitude.
- Only invest what you can afford to lose.
- Perhaps the most important factor in good investing is patience.
If you’d like to read more about counterfeiting stocks this is a good place to start http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html
submitted by rainforest11 to Wallstreetbetsnew [link] [comments]

$FUBO DD - Connecting the dots, this thing is going to be a MONSTER.

From u/heardme
Pretty sure most of you know $FUBO has been shorted like crazy since the news of their Victory acquisition. It shot up 33% with the news and has since lost most of those gains. I'm here to tell you why the shorts are wrong and why this is a MASSIVE opportunity for us.
First, I'd like to address the issue of profitability. It was founded in 2015and being a young, growing company and isn't profitable yet. To put things into perspective, even Netflix which was founded in 1997 wasn't profitable until 2003. Fubo has more competition today than Netflix did back then, but it's still growing rapidly.
Q3 Results: https://www.yahoo.com/now/fubotv-announces-q3-2020-results-210500756.html
Q4 Preliminary Results:
https://ir.fubo.tv/news/news-details/2021/fuboTV-Announces-Preliminary-Fourth-Quarter-2020-Revenue-and-Subscriber-Growth/default.aspx
It smashed its previous guidance because sports and normality are returning. Also note that Fubo was still growing rapidly during the pandemic despite the lack of sports which is its primary focus. This is huge and it will continue to grow faster as sports start to return to normal.
FUBO is estimated to announce earnings between Jan 25, 2021 and Feb 03, 2021
​
Most of us know that Fubo was opportunistically hit by short sellers (Kerrisdale/Rich Greendfield) as their lock up period expired. This made the stock tank considerably from it's high of $60. The short argument is that integrated sports betting is a pipe dream, and that its not profitable yet.
As mentioned earlier, it took Netflix a while to scale up and become profitable. At the rate Fubo is growing, they are going to be profitable sooner than later. This isn't even an argument to me, as they scale up a few things will happen:
- Customer acquisition costs will become a lower and lower percentage of revenue.
- Since they license their content, they need scale to turn those licensing costs to profit (just like Netflix did)
- More customers mean they can charge more for advertising. (More on this later)
Fubo very clearly addressed the issue of integrated sports betting with the acquisition of Vigtory. The bear thesis is weakening significantly. Almost nonexistent.
​
​
Now, on to the NBA:
https://www.forbes.com/sites/bethkindig/2021/12/31/fubotv-solid-positioning-for-sports-betting/?sh=5fadb7c69cb5
"Over the past few years, Sky Media led investment rounds in FuboTV along with Fox for a 39% stake. This investment round was increased in late 2017/early 2018 with Sky Media holding Board positions. The former NBA commissioner was also part of the last $15 million round. Media has gone through some very big M&A shifts at the top-level with Comcast acquiring Sky and Disney acquiring 21st Century Fox. However, for FuboTV’s formative years, the company was influenced by arguably the top sports betting company in the world – Sky Media from the UK. The Comcast-owned Sky Media is still a backer for FuboTV along with Disney."
David Stern, the late former NBA commissioner was involved in funding of Fubo. The current NBA commissioner Adam Silver worked extremely closely with his mentor. I've been a lifelong NBA fan and I had doubts in Adam Silver but I think he's done a fantastic job with the NBA.
Why am I bringing up the NBA?
https://www.casino.org/news/nba-considering-betting-broadcasts-could-help-draftkings/ (check the date of this and check the date of the Fubo Vigtory announcement)
People are missing some key elements to the NBA announcement: this announcement was made literally the DAY after the Fubo Victory acquisition. People are missing the link between the NBA and Fubo, let alone the timing. Fact check me, they were announced a day apart and Fubo is the ONLY company with plans of an integrated sports betting broadcast platform.
The NBA wants to get into this because they know viewers watch games for longer with sports betting and fantasy leagues (which is why I think they threw in DraftKings)
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Now, lets look into two key acquisitions:
- Vigtory - Fubo acquired them and put their co-founder in charge of integrated sports betting along with their licenses and tech.
Balto - This one is another thing bears are missing. They claim this acquisition was to get into sports betting, it wasn't this was for their fantasy sports platform which Fubo is also planning on integrating.
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Fubo is going to be an absolute monster going forward. It is trading at a discount thanks to shorts https://www.marketwatch.com/investing/stock/fubo
34m shares short, 62.5% of float shorted. This thing is PRIMED for an epic squeeze AND it's valued at a discount right now.
Since the Vigtory acquisition, new price targets came out ranging from $47 to $60.
Short term, I'm confident this thing will pop soon. It was hammered down after the Vigtory announcement by shorts, followed by a low volume selloff Friday. It's trading at imo, a massive discount right now.
Long term, this thing is shaping up to be a unique competitor in streaming/sports betting.
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TL;DR - get in long, one way or another. Commons, LEAPS, anything... this thing is going to explode as we inch towards earnings (expected late January to mid-February). We got massive revenue growth, we have strong tailwinds with the return of sports, we have the NBA basically saying they're in as long as Fubo can execute.
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[Video Games] The Rise and Fall and Rise Again and Fall Again of Lab Zero Games

The last drama post I did about Kuma Miko seemed to have gotten some praise, but some wished to see a Hobby Drama post that had consequences outside “people got angry over it”. So without any further delay, here’s a story about a studio that’s close to my heart, one that I’ve backed twice and seen die twice.
Note: This is a fairly lengthy drama, so forgive me if I’m not able to provide all of my sources. Most of the front half of this comes from this video, which chronicles the first half of Lab Zero entirely in Russian.
From Ahad to Mike Z
Let’s start in the beginning. Alex Ahad is a freelance illustrator who, in between other work, had created character designs for a prospective fighting game. Mike Zaimont is a professional fighting game player best known for games like BlazBlue and Marvel Vs. Capcom, but since 1999 had been coding a custom engine in his free time, which he hoped could be used for a fighting game. The two met in 2008, and the two quickly realized that with each other’s help, their dream could come true. In 2010, the two joined the newly developed game studio Reverge Labs. Joining their team was Mariel “Kinuko” Cartwright, a friend of Ahad’s and daughter of a Disney animator who helped animate games such as Scott Pilgrim vs. The World and Shantae; Peter Bartholow, who acted as CEO of Reverge as well as their PR arm; and an assortment of other animators and designers. Their goal: a fighting game in the style of Marvel vs. Capcom 2 with hand-drawn animation that they called Skullgirls.
After obtaining publishers in Autumn Games and Konami (at the time of development the Microsoft required indie devs to have a retail publisher in order to bring their games to Xbox Live Arcade), the team got to work on Skullgirls. Initial impressions were favorful - people liked Ahad’s unique character designs, the fluid animation, and the solid engine Mike Z built - but upon release, there were some concerns. The time and money needed to develop each character meant a starting roster of only eight characters, a far cry from other fighting games (the original MvC had 15 characters in 1998), and due to the team trying to get the game out, there was no in-game move list. Some were also concerned that the cast, consisting entirely of women, was too fanservice-filled, although Bartholow said that the characters were just attractive women who could fight as opposed to characters using their sexuality in battle (Ahad said that sex wasn’t his main focus, he just wanted to have monster girls fight each other). The team at Reverge Labs stressed that they would continue to update the game, with plans to add DLC if the game sold well enough. Good thing nothing could go wro-
Everything goes wrong
Alongside publishing Skullgirls, Autumn Games and Konami had previously published a karaoke game called Def Jam RapStar. Unfortunately, around March 2012, the time Skullgirls released, both parties were at the end of several lawsuits made against them - one argued that Autumn and Konami did not get the rights to some of the songs used in the game, while another claimed that the game was funded with a bank loan which Autumn Games was unable to pay back. The result of these costly lawsuits was that Autumn was unable to pay Reverge the money made from Skullgirls - this led to the entire Reverge team being laid off around July, and the future of the game in the air.
And so, the team decided on a whim to reconvene as a new development studio, Lab Zero Games. At a fundraiser for breast cancer research which included a fighting game tournament, Mike Z revealed the first DLC fighter and promised that new information about her and the team would be posted soon. This would turn out to be an Indiegogo fundraising campaign that asked for $150,000 to develop the first DLC fighter, with more characters promised if people backed enough.
In the end, $829,829 was raised in the campaign, enough to fund five DLC characters, a bevy of stages and voice packs, and other features. It was quickly becoming a cult classic.
The Skullgirls Curse
And so work on Skullgirls DLC was underway. However, a variety of events happened to befall Lab Zero during development, some causing controversy and others just annoying the team. Some dubbed this “The Skullgirls Curse”. So let’s go over some of them:
So as you can see, Skullgirls had a menagerie of problems and issues during its dev time. However, their Skullgirls curse seemed to have faded away, as they had a new game in store.
If I was Indivisible
Indivisible was a new project of Lab Zero, announced in 2015 as Skullgirls DLC production was nearing an end. Billed as a platformer RPG similar to games like Valkyrie Profile, it would tell the story of Ajna, a young girl whose town is stricken by tragedy and she finds out that she’s a portion of the god of creation, who has grown discontent with the world and wishes to remake it anew. Its Indiegogo campaign focused on Incarnations, party members who came from a variety of cultures, religions, and demographics not usually represented in popular culture. And as you can see by the fact that it got over two million dollars in funding, people were excited to see what Lab Zero could do. They even got enough funding to get Studio Trigger, of anime fame, to create the opening for the game.
Of course, it wouldn’t be Lab Zero without the occasional issue here and there. As shown above, some Incarnations were changed or scrapped during development, which irked some who backed because of that character specifically (not naming any names, but look in the incarnation list and see if you notice any). Backer characters were included again, and although there were more places to add them so they didn’t look out of place, you still had the occasional few that did. Critics liked the art and presentation of the game, but disliked some gameplay issues: the second half of the game became a cakewalk once you progressed far enough, it was a bit of a pain to go from one end of the map to another, especially for side quests, and a bunch of party members simply weren’t complete. Most egregiously of all, the Nintendo Switch version of the game was ported by a different company and released before Lab Zero was even aware of it - which forced them to scramble again to patch it up so it was on par with other consoles.
Still, it was a better situation they were in than when Skullgirls started. They had a legit publisher in 505 Games, people were satisfied with the base game, and Mike Z mentioned how the base game would continue to be refined with gameplay changes, small additions, and guest incarnations from other indie games. NBC even announced that Indivisible would be adapted into a television program for their Peacock streaming service. Things were looking up for Lab Zero.
Everything goes wrong... AGAIN
During the production of Indivisible, Alex Ahad was let go by Lab Zero. Not much is mentioned about it except that he was growing increasingly hostile, making it difficult to work with him, and his art was not meeting the standards for the game. He left, tried to sue Lab Zero, and eventually agreed to a sizable settlement. Mariel became the lead artistic director in his stead, and the art team had to be rearranged to compensate.
Now, as Lab Zero was preparing to transition from being employee-owned, Mike Z was made the temporary head of the studio. In June of 2020, Mike Z did an “I can’t breathe” joke during a Skullgirls livestream just days after George Floyd’s death - he later apologized for this, claiming he was trying to bring attention to the issue. Soon, more people provided proof that Mike Z has had a history of sexual harassment. Kinuko chimes in as well, noting that while she tolerated inappropriate behavior for years, when she talked to Mike Z about it, he blamed her for his actions. She talked with others in the team, who came to the conclusion that Zaimont had treated all of them like this. Some Lab Zero employees resigned on their own, while others pushed for Zaimont to resign. However, as Mike was still head of the studio, he dissolved the studio board and laid off the rest of the staff.
So where does that leave everyone?
There’s probably something I’ve missed in all of this, but yep. I backed them twice, both for Skullgirls and Indivisible. I don’t regret it, and I’m looking forward to whatever Future Club does, but I won’t lie - I’ll always miss what could have been.
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Album of the Year #24: Run The Jewels - RTJ4

Artist: Run The Jewels
Album: RTJ4
Date Released: June 3rd, 2020
Listen
YouTube
Spotify
Tidal
Apple Music
Artist Background
The duo consisting of Atlanta rapper Killer Mike, and legendary underground produceMC El-P, known together as Run The Jewels, originally came together as a result of Adult Swim executive Jason DeMarco who introduced the two in 2011. After his 2011 album PL3DGE peaked at #115 on the US charts, Killer Mike told Jason that he wanted to make his own AmeriKKKa’s Most Wanted. Jason informed Mike, “If you want AmeriKKKa’s Most Wanted modernized, the only producer I know who comes close to the Bomb Squad-level of production is El-P”. The duo’s chemistry was immediate, as El-P went on to produce all of Killer Mike’s 2012 last solo album R.A.P. Music, and Mike featured on El-P’s final solo album Cancer 4 Cure. Mike and El’s respective albums released within a week of each other in May 2012, and the two embarked on a twenty-city US tour in the following months. After returning from tour, the pair had found a friendship growing between themselves, and made the decision to put other projects on hold and focus on the chemistry that had been sparked. Recording at an upstate NY studio beginning in April 2013, the duo re-appropriated the phrase “Run The Jewels” from the LL Cool J track “Cheesy Rat Blues", and released their self-titled collaborative album, for free via digital download, only a mere 2 months later in June 2013.
36” Chain vs. Pistol & Fist
Run The Jewels discography currently exists in a distinct pairing. With Run The Jewels as their debut, this record set the group's tone as a light-hearted, braggadocious duo with as much confidence in their abilities as swag in their punchlines. Just over a year later, the sequel Run The Jewels 2 took the foundation set from their freshman effort and dialed the insanity up to 11. RTJ2 pushed the boundaries of their aggression and flows to new heights; with incredible energy in their verses, and absolutely impeccable beats, blending El-P’s signature industrial sound with sharp synth arpeggios, chopped Zach De La Rocha vocals, and absolutely bonkers Travis Barker drums.
It was then nearly 3 years before Jamie and Mike followed up their breakout RTJ2, with Run The Jewels 3 being released again ahead of its scheduled release date via free digital download, this time on Christmas Eve 2016. Instead of these two attempting to outdo the pure insanity and in-your-face attitude found in their predecessor, Mike and El decide to evolve themselves as a group. The duo had noticeably pulled back on the swag and dick jokes which made such a splash on RTJ2, instead choosing a more subdued, electronic approach to their beats, as well as a clearly stronger political approach in their lyrics. This change in sound and style is demonstrated in the album cover’s artwork. The first two records featured the distinctive RTJ “Pistol and Fist”, with the fist tightly gripping a chain. The chain, in my opinion, represents the swag and braggadocio that drove the aggressive nature of their first two albums. In RTJ3 the chain is removed, leaving only hands that have transformed from bleeding and bandaged, to a pristine gold.
This brings us to early 2020. It’s been nearly 4 years of living in a post-Trump America, and El-P announces that Run The Jewels fourth record has been completed. Mike and El live-stream the first single “yankee and the brave” on Instagram on March 22nd, 2020. Lyrically and sonically, RTJ4 exists as the successor to Run The Jewels 3, with Mike and El again taking the good from their previous effort and launching it into the creative stratosphere. El-P’s beats are again leaning towards the synthetic, electronic side, this time with the intensity dialed all the way up to 11. From a lyrical perspective, RTJ takes the politically-charged lyrics from their predecessor, and again, up the ante, laying down some of the hardest hitting and politically poignant bars either of these two have ever spit.
Album Review
2020 was a year that none of us will soon forget. An unprecedented global health crisis kept the majority of us inside for months at a time. RTJ4 was announced on May 12th, 2020, with a release date slated for June 5th, 2020. However, with 2020 as the gift that won’t stop giving, the end of May was highlighted by the unjust killing of George Floyd. The phrase heard around the world, “I can’t breathe” instantly became a rally-cry for the oppressed to finally take to the streets to demand systemic police reform, as Floyd’s death was not the first time this phrase was uttered in an unjust police killing. In fact, a 2020 study by the New York Times showed that at least 70 people have died in police custody after using the same phrase over the past decade. As millions of American’s began organizing protests and demonstrations in the wake of Floyd’s death, Run The Jewels made the decision to release their latest chapter two days ahead of the scheduled release. El-P tweeted, just minutes ahead of the drop, “Fuck it, why wait. The world is infested with bullshit, so here’s something raw to listen to while you deal with it all. We hope it brings you some joy. Stay safe and hopeful out there and thank you for giving 2 friends the chance to be heard and do what they love”. In line with all past Run The Jewels releases, the album was made available for free digital download, two days ahead of its scheduled release date, on June 3rd, 2020.
THE RETURN (we don’t mean no harm but we truly mean all the disrespect)
RTJ4 opens with the first single, “yankee and the brave (ep. 4)”. Using the team names from their respective hometown baseball teams, Mike and El use the opening track to prove that they’re not just a hip-hop duo, they’re brothers, for better or worse. El-P kicks this installment off with rapid-fire, machine-gun esque snares, matching Killer Mike’s aggressive flow and tightly packed rhymes, before El jumps in to trade some dense rhymes as well. Mike and El depict themselves as outlaws, with Mike surrounded by cops with only one bullet remaining. He contemplates suicide instead of allowing the police to take him alive, until El-P jumps back in, offering Mike a way out, with a getaway car waiting outside. This tense situation is depicted lightheartedly in this song’s music video, which was released via Adult Swim and features the duo animated.
The trade-off between Mike and El’s short verses are reminiscent of late-80’s EPMD flows, while the production sounds like boom-bap that’s been sent to us from the future. This distinctive blend of old-school rap roots and forward thinking production is what continues to separate Run The Jewels from absolutely all of their contemporaries. While so many artists are continually playing catch-up with the latest trends, RTJ are side-stepping the trendy and moving forward with the mind-bending.
FLEXIN’ (ayo one for mayhem, two for mischief)
The second single “ooh la la” samples a Gang Star track "DWYCK (feat. Nice & Smooth)" as the basis for the chorus. I say “samples” as that’s how it is credited in the album’s liner notes, however it’s truly an interpolation of Greg Nice’s bar, slowed down slightly, and sung by El-P and Greg Nice himself. El-P is a true old-head at heart, and it’s abundantly obvious in his work, even going as far as to recruit legendary producer DJ Premiere to handle the scratching on the back end of this banger.
Out of key piano chords are looped to quickly create an unsettling aura surrounding the track, before El-P’s voice cuts through the infectious piano like a whip. Pounding, up-tempo drums are introduced after the chorus’ first iteration, creating what is possibly El-P’s first danceable beat. Lyrically, Mike and El-P initially seem scattered on this track, however the music video quickly makes their point very obvious.
”we imagined the world on the day that the age old struggle of class was finally over. a day that humanity, empathy and community were victorious over the forces that would separate us based on arbitrary systems created by man.
this video is a fantasy of waking up on a day that there is no monetary system, no dividing line, no false construct to tell our fellow man that they are less or more than anyone else. not that people are without but that the whole meaning of money has vanished. that we have somehow solved our self created caste system and can now start fresh with love, hope and celebration. its a dream of humanity’s V-DAY… and the party we know would pop off.”
The video envisions a society celebrating the fact that the class system we currently exist within has finally imploded. Money is worthless, and we have rejected the desire to bind ourselves to the constraints of capitalism. All creeds and colors unite to burn the system that has so effectively controlled us for over a century. It’s a party, and if there was a song to celebrate the end of the world as it is currently known, “ooh la la” is that song.
Mike’s last verse features a few metaphors and comparisons celebrating the destruction of capitalism, saving the most poignant for last:
I used to love Bruce, but livin' my vida loca
Helped me understand I'm probably more of a Joker
When we usher in chaos, just know that we did it smiling
Cannibals on this island, inmates run the asylum
Premo’s expertly cut scratches lead us into the equally hard hitting sample flip of “Misdemeanor”, by Foster Stevens as the basis for the beat to “out of sight”. Lending yet another nod to the old-school greats that laid the foundation for RTJ, “out of sight” samples the same track as The D.O.C.’s “It’s Funky Enough”, only adding a bouncy, electronic synth atop the inverted chord hits, and uptempo, industrial drums, to create an absolutely infectious groove for Mike and El’s dynamic chemistry to shine, rapidly jumping between each other’s two line flows in the first verse.
“out of sight” shows each MC providing insight into how each of them earned a living and achieved their current status. Mike and El’s opening verse each details themselves robbing people in order to eat. El alludes to the fact that he crossed his accomplices in crime for the whole bag, while Mike details the fact his assailant tells him it’s an “honor” to be robbed by his mother’s only son.
While El-P’s production is the obvious stand out on first listen, Killer Mike comes through with one of the most sonically pleasing and technically proficient verses of 2020.
We the motivating, devastating, captivating
Ghost and Rae relating product of the fuckin' '80s
Coke dealin' babies, never regulating, bag accumulating
It would not be overstating to say they are underrating
The pride of Brooklyn and the Grady, baby
We don't need no compliments or confidence
Our attitude and latitude is "fuck you, pay me"
The dense, intricate rhyme schemes smack you in the face, almost distracting you from Mike’s delivery and blistering flow on the verse; flexing his legendary status while paying homage to his drug-dealing past. This absolutely stunning display of technical skill, story telling, and complex rhyming illustrates how RTJ seamlessly integrates the best of both old school and new school hip-hop.
“out of sight” also features a guest verse from 2 Chainz, and he continues to lay the braggadocio on thick. Considering Tity Boi’s dedication to trap stylings, his verse feels right at home on the flex track, despite it’s late 80’s tribute sample, a considerable departure from his usual sound palette.
Up until this point, I haven’t mentioned any of the El-P’s lyrics specifically. El-P is a great rapper, but Killer Mike… Well, Killer Mike is an incredible rapper. He’s the guy who draws you in. El-P is the one who lays the foundation for greatness and Mike is the show stopper, and that’s generally the case for most RTJ tracks. But on “holy calamafuck”, El-P seems determined to make people stop and ask, “Who the fuck is this?!”.
A sharp, yet nearly minimalistic drum kit backing a heavily distorted synthesizer melody lays beneath rhymically knocking cow-bells. This aggressively set stage allows Mike and El to flex as the dynamic duo they are, until the beat suddenly takes a turn for the chaotic. A gnarled, ultra-menacing synth overtakes everything while Mike screams into the abyss, until a distorted snare, enormous 808s, and skeletal hi-hats cut through and launch the beat switch into another dimension. The minimal, yet incredibly dark soundscape allows El-P to snap in a way I have never heard from him previously. His rhymes schemes are reminiscent of an old MF DOOM lyric notebook, while his topics flawlessly combine flexing, psychedelic use, and his well-cemented legacy in the hip-hop community. Cutting and pasting a few of his bars into this review could not convey a fraction of how stunning El-P’s performance on “holy calamafuck” is.
Slightly later in the track list, making liberal use of the Ether song “Gang of Four”, “the ground below” samples and loops the sharp guitar riff and adds aggressive, pounding drums as the basis for the beat; this is finally reminiscent of the forward-thinking, stridulous production El-P has built his reputation on. Capitalising on the classic RTJ moment, Mike and El both flex in their own unique ways. Mike compares himself to Godzilla taking on Tokyo, and El-P demands respect for his name as the legend he is, threatening to smack dying children for mispronouncing his name with his middle finger to the world; his complete disregard for human life and confidence in his abilities are summed up at the end of his verse.
You see a future where Run the Jewels ain’t the shit
Cancel my Hitler-killing trip
Turn the time machine back around a century
SO¢IAL JU$T-ICE (until my voice go from a shriek to whisper...)
While the first few tracks aren’t without their social and political themes, the back-end of RTJ4 is where Mike and El start to bust out the heavy topics. “goonies vs. E.T.”. starts off light, with El-P pointing to the irony of how once he finally started to make it “big” in the industry, the world began to descend into chaos due to climate changes, increasingly obvious social injustice, and political madness. He culminates his frustration with our disregard for the Earth with a fantastic quotable.
Fuck y’all got, another planet on stash?
Far from the fact of the flames and our trash
That is not snow, it is ash, and you gotta know
The past got a wrath, it’s a lover gone mad
Mike’s verse takes the light-hearted frustration expressed by El-P, and turns the aggression to the next level. Aiming his sights against the ruling class and their society that’s been designed to oppress people for profit, who have very meticulously painted themselves as celebrities and idols to the American public. Mike accepts that he will be villainized by these people for speaking against them, but he welcomes the nefarious role, knowing that the working class will eventually eat the rich, no matter how much they are stomped into the dirt.
And this is just the warmup.
If it’s possible for a song to represent a moment in time that captures the absolute shit storm that has been 2020, “walking in the snow” is that song. It’s release coincided perfectly with the protests for George Floyd which were sweeping the nation. Killer Mike’s verse directly references the phrase “I can’t breathe”, the last words of Eric Garner, which also happened to be the last words of Floyd as well. The fact that this verse was reportedly written in November 2019 perpetually underscores the importance of the content and perfectly represents how persistent this problem is. “walking in the snow” is a true encapsulation of both a defining moment in time and an ever-persisting issue.
But he doesn’t just stop at the racial injustice. Mike goes on an absolute rant about the American education system; how it’s not designed to teach people, but to discriminate against poor populations, limiting their legitimate opportunities, and therefore disproportionately leading them into a criminal lifestyle. He calls out the media as fear-mongers, and the apathy of the American public in the face of indecency. Fortunately for Mike, by the time we finally had the chance to hear this masterpiece, we were already on our feet, using this album as a war cry to mobilize against a tyrannical government that militarized against its own citizens simply for asking that we recognize systemic racism and demanding change. Killer Mike has the best verse of the year, no doubt in my mind.
The only drawback is that Mike’s verse is so fucking good that it completely overshadows El-P’s, which is also amazing. A menacing guitar riff and haunting synths kick the track off into a bouncy groove, where El-P unleashes a flurry of internal rhymes that does not relent for about half his verse. Even adding layers of social commentary within the densely packed bars, El refuses to quit and continues on his political tirade; criticizing ICE’s detainment center practices and the “pseudo-Christians” who support them, with a bar that now lives in my head:
Pseudo-Christians, y’all indifferent, kids in prison ain’t a sin? Shit
if even one scrap of what Jesus taught connected you’d feel different
what a disingenuous way to piss away existence, I don’t get it
I’d say you lost your goddamn minds if y’all possessed one to begin with
The combination of two of the best verses spit by any rapper(s) this year and production help from El-P and long time RTJ collaborator Little Shalimar, create a bouncy, aggressive, deeply truthful banger. “walking in the snow” not only encapsulates the crux of 2020 with lyrics that will become more powerful as they age, but will also forever be associated with the Black Lives Matter movement and the determination to expose continuing racial and societal injustices.
The sonic palette of RTJ4 holds an extremely unique place in El-P’s discography. Jamie is the definition of a self-made 90’s hip-hop legend. This is the dude who put New York underground hip-hop on the map with Company Flow, and he did it with his unique flavor of dark, noisy, dense, boom-bap. Whether he was doing it with the help of Rawkus, or completely independently during his Definitive Jux run, El-P has never made music with the intention of becoming famous. Funcrusher Plus, Fantastic Damage,I’ll Sleep When You’re Dead, and Cancer 4 Cure are all highly revered as industrial, technical, abrasive, and completely unsuitable for the radio or a party. The fact that three songs on RTJ4 could easily be heard on the radio, at a party, or in a TV series credits scene is frankly, astounding. In a 2002 interview/documentary on El-P’s budding record label Def Jux, he stated that his friend bet him $500 that he could not make a beat that was “happy”. At the time of the interview, El-P said that he had not won that bet yet. While I might not qualify the beats on RTJ4 as “happy”, if you showed El-P the beat for “JU$T” in 2002, I believe he might have won that bet.
Pharell opens “JU$T” with the pre-chorus, spitting varied examples of how we’re all slaves to our current system throughout the track, over echoing snares and bouncy 808s before bright synth chords and up-tempo hi-hats burst in while Killer Mike delivers the chorus, pointing to the fact that the majority of the people featured on American currency owned slaves at one point in their lives. Mike’s verse touches on the fact that he has committed crimes to get where they are today. Mike is publicly open about his past as a drug dealer. So why is he a criminal, but Benjamin Franklin isn’t? These are the people who built our country, and they built it on the backs of slaves. He illustrates this theme with a more recent examples:
You believe corporations runnin marijuana? Ooh (how that happen?)
and your country gettin ran by a casino owner (ooh)
pedophiles sponsor all these fuckin’ racist bastards (they do)
When corporations are able to sell cannabis legally, but the government continually incarcerates people who trap, our president is a notoriously fraudulent businessman, and the people who helped put him in power run a pedophile ring, yet none of them face consequences and are allowed to continue to profit and remain in power while people suffer; well, we might be closer to slaves than previously imagined.
Rage Against The Machine frontman Zach de la Rocha also makes his mandatory feature appearance at the end of “JU$T”. As the only artist to feature on three Run The Jewels albums, Zach is essentially an unofficial member of the group at this point. His fiery verse is spit with the same “Rage” energy that set him apart in the mid-90’s, ending the track questioning his place in a capitalist society as a recipe for his inevitable demise, since his “breath”, or art, as his weapon to express himself is still being exploited for other’s profit.
Continuing with RTJ4’s heavily synthetic sonic palette, “never look back” features wavering synth leads resting above the slow-jams snappy snares and thumping bass, while a haunting voice echoes in the background. This unsettling aura provides additional gravity for Jamie and Mike to continue self-reflecting on defining moments in their childhood, and as well as how far they’ve come from those moments. Mike and El are both self-made men, and while they have a certain fondness for those gritty moments that defined them, moving forward in life is undoubtedly more important.
Skeletal drums reminiscent of a slowly pounding heart opens “pulling the pin”, before rhythmic hi-hats and textured, watery synths fluttering in the upper register resting above a bouncy synth lead, and punchy 808s, burst in. The track digs itself into a slower, marching groove and shows the duo figuratively doing exactly what the title implies. Painting a portrait of a society that has turned on itself, Mike and El are ready to pull the pin and start over.
The duo both detail their despise for the ruling class, pointing out multiple examples of how the elite have designed our society to keep poor people in their class. Simultaneously recognizing their own hypocrisy for profiting in a system that inherently discriminates; Mike reflects on his own success, knowing that living the lifestyle he enjoys is one built on oppression, and expresses the guilt that has caused him. El-P opens with a brutal metaphor for police, implying that they’re the root cause of the “wretched state of danger” our society exists within, and that the only effective corrective action is to numb yourself with drugs. Despite his advice, Jamie knows this is not a permanent solution, but one that causes more self-inflicted wounds.
The final piece of the puzzle that is RTJ4, “a few words for the firing squad” begins to close the album with ever crescending strings, and loud, thunderous drums which never seem to resolve, continuing throughout their verses. While the drums that lead to nowhere can be sonically unpleasant, the unresolved melodies are intentionally representative of their current mindsets. Their verses are reflective and grim, but simultaneously optimistic and envisions a world where tragedy is a less common occurrence.
El is grateful for what he has now but recognizes his entire life has been skewed by traumas, so out of place feels normal for him. He reflects on his current success, noting that the worst people tend to end up with the most, which makes becoming “rich” something not as desirable as it once was.
Mike opens up about the death of his mother who died while he was on an airplane, admitting his struggles to not cope with his trauma with opioids. However, his wife provides him the most important reason to stay clean “but my queen/say she need a king/not another junkie rapper fiend” while a heartbreaking saxophone solo highlights the gravity of his lyrics.
The track ends with what sounds the like wrap-up voiceover to a TV show, a conceptually satisfying ending, as the opening track “yankee and brave (ep.4)” began with El-P stating:
”This week, on Yankee and The Brave”
This voiceover paints the duo as brothers on the run from the law and crooked cops, and while this does close this “episode” out as intended, the critic in me is bothered by the slightly kitschy outro to such a spectacular album. The voices singing over and over, “Brave, brave, braaaaaave, Yankee and the Brave” would be, simply put, better left on the cutting room floor. The ending of this track alone is what knocks my score of this album down a few points. Despite its stellar lyrical content, with drums that never seem to reach that “holy shit!” moment, and the easily skippable outro, it’s upsetting to me that an album this great ends on such a low note.
Overview
RTJ4 is by far my favorite album of the year. El-P’s cutting edge approach to their sound, blended with lyrical content that continues to be more relevant by the day, the duo have come together with what is objectively their most accessible album to date. RTJ4 is the natural evolution of sound and subject matter for the duo; taking the foundation set by Run The Jewels 3 and evolving it into a more concise, more accessible, and more conceptual album. While I still personally prefer the “fuck the world” intensity and experimental nature of Run The Jewels 2, RTJ4 opens themselves up to a whole new world of exposure, and when you’re as talented as these two, you know they’re going to capitalize on it. RTJ is currently at their apex, and they’ve created an album that will make many new life-long fans going forward.
9.2/10
Discussion Points
  • How does this compare to other RTJ releases? How about in comparison to the member’s solo works?
  • Does the overwhelmingly positive critical reception of this album surprise you?
  • How will this be looked back on in 5 years?
  • What are your favorite lyrics?
submitted by jordanbeff to hiphopheads [link] [comments]

Illegal Tactics and DTCC/Prime Broker Complicity In Naked Shorting & Retail Shutdown of GME (DTCC/Prime Brokers decision makers need to be questioned at the 2/18 GameStop Congress hearing)

TLDR: GameStop’s Congress hearing is on Feb 18th, they need to investigate the Prime Brokers and DTCC for their complicity in enabling naked shorting within GME and by extension, potential collusion to shut down trading on Jan 28th, the day the short squeeze was going to kick off. (stick to the end for an analysis of some illegal tactics short side hedge funds have been using)
Thesis: On the day the retail market for GME shut down on 1/28 (the day the short squeeze would’ve happened had there been no market intervention), DTCC (clearing house monopoly) shut down retail buying in order to protect itself and Prime Brokers (which privately own the DTCC) from being exposed to the consequences of being party to illegal activity. I believe Prime Brokers and DTCC need to be called to the GameStop hearing on February 18th to be questioned for their complicity in enabling illegal naked shorting of the GME stock, as well as potential collusion to shut out retail buyers on 1/28.
In my previous post (which I recommend reading for some context) I explored the subject of rampant illegal naked shorting in GME, and how Prime Brokers (consisting of banks like Goldman, Morgan, etc) and DTCC would be complicit in the naked shorting. This in turn raises the thought experiment that they would be incentivized to do anything possible to prevent the short squeeze from happening on 1/28 because had the short squeeze happened, the shorts would go bankrupt and their Prime Brokers who lent them their naked shorted shares would need to cover the shares. This would not only represent a humongous capital expense for Prime Brokers, the culpability of Prime Brokers (and that of the DTCC) in this situation would also have likely been exposed as well.
A quick primer on what a Prime Broker is: Prime Brokers are essentially the service side of the short- selling business. They lend out securities and cash, you can think of them as the “house” in a casino: They provide a gambler with markers to play and to manage his winnings. According to Matt Taibi, “Under the original concept, if a hedge fund that wanted to short a stock they would first need to “locate” the stock with his Prime Broker but as time passed, Prime Brokers increasingly allowed their hedge-fund customers to use automated systems and “locate” the stock themselves, and what this does is enable short-sellers to sell stock without delivering and thereby perform naked shorts with counterfeit shares. (source: https://web.archive.org/web/20210213125246/https://www.rollingstone.com/feature/wall-streets-naked-swindle-194908/). (I highly recommend you read Matt Taibi’s article on naked shorting and how it was used to take down Bear Stearns and Lehman Brothers. There are so many parallels with GME it’s hard to miss. It’s amazing to consider that 12 years after this article was published and brought to public awareness, the problem of naked shorting still exists as a systemic issue.)
Prime Brokers have a long history of being associated with naked shorting. To highlight a few examples, Prime Brokers like Merill Lynch and Goldman have long been implicated for naked shorting Overstock.com (https://www.rollingstone.com/politics/politics-news/accidentally-released-and-incredibly-embarrassing-documents-show-how-goldman-et-al-engaged-in-naked-short-selling-244035/, https://www.forbes.com/2007/02/02/naked-short-suit-overstock-biz-cx_lm_0202naked.html?sh=271400d1763f). Another example is when Goldman’s Prime Brokerage was implicated by the SEC in 2016 and got away with a small fine of 16 million (Source: https://www.sec.gov/news/pressrelease/2016-9.html). An example that very recently came in the news is a story where CIBC, BOA, UBS and TD Bank Prime Brokerages are accused of facilitating naked short selling and using counterfeit stock to attack and bring the stock price of a company from $34.77 to $1.83 (Source: https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article_id=224548).
The DTCC also has a very long history of being associated with naked shorting. The Wall Street Journal noted that 1% of the DTCC’s volume end in failure to deliver which “have put DTCC in the middle of a long-running fight over whether unscrupulous investors are driving down hundreds of small companies' share prices… DTCC has turned a blind eye to the naked-shorting problem. ” (Source: https://www.wsj.com/articles/SB118359867562957720). The DTCC has also had numerous complaints submitted to the SEC for enabling naked shorting (source: https://www.sec.gov/rules/proposed/s72303/decosta122203.htm) and have been sued tens or hundreds of times for assisting naked shorts (source: https://smithonstocks.com/part-3-in-series-on-illegal-naked-shortings-role-in-stock-manipulation-prime-brokers-and-the-dtcc-have-a-troubling-monopoly-on-clearing-and-settling-stock-trades/ and http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html and https://www.wsj.com/articles/SB118359867562957720)
On 1/28 Robinhood received a letter from the DTCC at 4 am requiring them to halt trading or come up with 3 billion dollars, which Robinhood did not have, and therefore with one swoop of the pen the DTCC shut down buy side momentum but strangely allowed selling. Retail investors were shut out of the market and as any student of microeconomics would know, by shutting buy but only allowing sell, the price is bound to fall. Meanwhile while hedge funds were able to keep trading not only in the market but also crosstrade in the dark pools (“private” stock markets that retail is shut out of, more on this later), and use this crucial lifeline given to them by the DTCC to prevent the squeeze from happening that day.
With retail abruptly being shut out from buy (even cash accounts were shut out, which didn’t make sense) and only allowed to sell, almost everyone could smell manipulation was afoot (which triggered the Congress hearing) and the most of the blame was pointed at Robinhood. Personally and in hindsight, I believe Robinhood was just a willing scapegoat. When we think about who had the most to lose if a short squeeze occurred, I’ll narrow it down to three entities, Shorts and their stakeholders (ie Citadel), Prime Brokers and the DTCC.
It’s important to remember that the actual impetus that triggered the shutdown of the market for retail investors came from the DTCC. Working backwards, if you consider that GME was rampantly naked shorted and DTCC and Prime Brokers would have to be complicit in it, I believe the DTCC, Primer Brokers and possibly Citadel (who provides 40% of Robinhood’s revenue) brazenly manipulated the market on 1/28 by shutting down purchasing for retail buyers to prevent the squeeze from being squoze on that day as doing so would be catastrophic for all aforementioned parties involved. I believe that on the upcoming Gamestop Congress hearings the Financial Services Committee needs to call on decision makers of DTCC and Prime Brokers explore their role and complicity in the shut out of retail buyers that day as well as being enablers of naked shorting in GME.
An interesting thought experiment: On 1/28 when the price was 450+ and shorts were likely under 100, if we assume prime brokers allowed naked shorting in GME, then when the squeeze was about to happen (or happening), if Prime Brokers had margin had called the shorts, they would presumably also also gone down because shorts would not be able to pay in that event and the brokers would be holding the bag. By that logic, they have every incentive in this case to NOT to margin call and instead the most logical option would probably would have been to make a backroom deal, which is what I personally think most likely happened.
If you’ve read up to this point, you might be thinking what can I do about this? I am aware that there a lot of cynicism that we can’t do anything, that there will be no justice for retail investors who were harmed this situation, and that institutions and people in power will prevent anything from being done. I feel this sometimes too, but remember:
A single voice can be drowned out, but if we all speak together then we will make our voice heard. Ape Strong Together.
With the hearing coming up on February 18th, I highly recommend you email and tweet the representatives involved in the hearing, as well as your own district representatives, and urge them to read into the factors presented in this post and call the DTCC and Prime Brokers to the hearingl. They need to be questioned on why GME has so many counterfeit shares, failed to deliver, their complicity in naked shorting, and investigated for their role in the retail shut down of 1/28. Below are 4 members of congress I recommend both tweeting and emailing
Alexandria Ocasio-Cortez https://twitter.com/AOC, email: [[email protected]](mailto:[email protected])
Al Green https://twitter.com/repalgreen, email: [[email protected]](mailto:[email protected])
Maxine Waters https://twitter.com/maxinewaters, email: [[email protected]](mailto:[email protected])
Nancy Pelosi Email: https://twitter.com/SpeakerPelosi email: [[email protected]](mailto:[email protected]).
And you can find other members of Financial Services Committee here to reach out to: https://financialservices.house.gov/about/committee-membership.htm
What follows should probably be a separate post, but I will take the opportunity to summarize some of the illegal tactics that shorts have been identified to be using in their war with retail investors. Note that this may not be an exhaustive list and there may be newer tactics deployed in the future. Retail investors might not have the same tricks, resources and willingness to break the law for profit as hedgies do, but my hope and belief is that if we pool our knowledge and analysis, we will figure out their game and effectively adapt.
Feel free to forward the list below to any representatives and lawmakers if you concur that these tactics were used:
Rampant Naked Shorting - With the extremely high number of Fail to Delivers (FTID) , short interest being as high as 226% recently, and institutions alone holding a staggering 177% of the total float (likely due in large part to counterfeit shares), signs strongly point to GME being rampant with naked shorts and counterfeit shares. I believe the original goal of shorts was to drive GME to bankruptcy with these naked shorts, using the laddering of naked shorts (aka short ladder attack), executed with the help of counterfeit stock which is a classic and reliable method of driving down the stock price. I believe the GME stock has seen relentlessly aggressive short attacks, especially on the week of Monday February 1st, which drove the stock price down and triggered panic selling.
Ladder Attacks with the help of Dark Pools - Another identified method of ladder attacks was identified to come from crosstrading with darkpools (the stock market has its own private stock exchange where institutions can trade…). Essentially darkpools are private stock markets retail investors do not have access to, where short side funds can purchase securities “off market” and then sell “on-market”, with the effect of creating a lot more downward pressure on the market without the upward pressure from buying.
Illegally masking shorts with synthetic longs. Another tactic shorts are suspected of using in GME is the use of illegally using options to evade short positions in violation of Reg SHO which SEC describes in this risk alert and which I elaborate in this post. Essentially it’s the use of using options to create synthetic longs to illegally and artificially cover and prolong short positions and at same time obscuring the true short interest %. If you consider that it would be far more profitable for shorts to not cover at high prices but instead ladder attack the price and wait for retail investors to lose interest and close their shorts at as low of a price as possible, then you can see why this strategy would be very effective.
Using way out-of-money call options to obscure true short interest. You may have heard about the 43 million worth of 800 dollar calls purchased when the price was 100 and found it odd. Later it was identified as a tactic to cheaply purchase synthetic call options (since at 800 its way out of money) to obscure their short positions (with the added benefit of hedging at 800 if a squeeze does happen)
One thing I want to note, particularly to legislators at the GameStop hearing: Retail investors were not incited to pump GME. Retail investors spotted a unique Short Squeeze opportunity created by the greed of short side hedge funds, whereby GameStop was being abusively naked shorted with the goal of bringing it to bankruptcy, and hedge funds were so greedy about it that they shorted the company with a short interest of 226% of float, meaning A LOT of counterfeit shares were being used to short the company. Retail investors saw this as an opportunity to short squeeze the hedge fund shorters, which is a legal and legitimate investment strategy. The short squeeze would have happened had everyone played fair, but instead, financial institutions who were culpable to the naked shorting intervened and shut down retail buying, hurting the retail investors and successfully manipulating the market. The investment itself was in my opinion a sound decision based on the short squeeze, but in hindsight retail investors did not seriously consider the risk of the market would be blatantly and publicly manipulated and that the market would be rigged against them.
If this post was useful (and I hope it was! Gave up my Friday night to write this for you Apes), please upvote for visibility and share it far and wide. The GameStop hearings could be a first step and hope towards legislative change, and it’s extremely important that the right story is told at those hearings (and by the right story I mean the real truth of what happened.) I hope the truly culpable parties are investigated and brought to justice. Again, I know many of us feel cynical that anything meaning will be done towards finding justice against the lawbreakers in this case, but if you feel even an ounce of injustice or empathy at how retail investors were unfairly harmed in the course of investing in GME, I strongly urge you to contact a legislator associated with the GameStop hearings and bring this to their attention so they can review this case with more complete information. In addition I recommend you to contact the SEC and any journalist you know or via journalist tip lines. It’s not going to be easy but the more awareness we raise the higher the likelihood our voices will be heard and positive change will be made.
As we navigate the rocky waters ahead, I’ll gift you with a favorite quote of mine:
The only difference between a nightmare and a dream is how big your balls are.
🚀🚀🚀
Disclaimer: I am not an investment advisor, I just like the stock.
Ps. If you’ve read to the end, I’ll leave you with a few more thoughts and reminders:
- If I were to distill life into one thing, it would be to never lose hope.
- Remember that if you’ve lost money in any way shape or form, don’t be depressed, money can always be made back and the important thing is to maintain a good attitude.
- Only invest what you can afford to lose.
- Perhaps the most important factor in good investing is patience.
If you’d like to read more about counterfeiting stocks this is a good place to start http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html
submitted by rainforest11 to WallStreetbetsELITE [link] [comments]

$FUBO DD - Connecting the dots, this thing is going to be a MONSTER.

Pretty sure most of you know $FUBO has been shorted like crazy since the news of their Victory acquisition. It shot up 33% with the news and has since lost most of those gains. I'm here to tell you why the shorts are wrong and why this is a MASSIVE opportunity for us.
First, I'd like to address the issue of profitability. It was founded in 2015and being a young, growing company and isn't profitable yet. To put things into perspective, even Netflix which was founded in 1997 wasn't profitable until 2003. Fubo has more competition today than Netflix did back then, but it's still growing rapidly.
Q3 Results: https://www.yahoo.com/now/fubotv-announces-q3-2020-results-210500756.html
Q4 Preliminary Results:
https://ir.fubo.tv/news/news-details/2021/fuboTV-Announces-Preliminary-Fourth-Quarter-2020-Revenue-and-Subscriber-Growth/default.aspx
It smashed its previous guidance because sports and normality are returning. Also note that Fubo was still growing rapidly during the pandemic despite the lack of sports which is its primary focus. This is huge and it will continue to grow faster as sports start to return to normal.
FUBO is estimated to announce earnings between Jan 25, 2021 and Feb 03, 2021
​
Most of us know that Fubo was opportunistically hit by short sellers (Kerrisdale/Rich Greendfield) as their lock up period expired. This made the stock tank considerably from it's high of $60. The short argument is that integrated sports betting is a pipe dream, and that its not profitable yet.
As mentioned earlier, it took Netflix a while to scale up and become profitable. At the rate Fubo is growing, they are going to be profitable sooner than later. This isn't even an argument to me, as they scale up a few things will happen:
- Customer acquisition costs will become a lower and lower percentage of revenue.
- Since they license their content, they need scale to turn those licensing costs to profit (just like Netflix did)
- More customers mean they can charge more for advertising. (More on this later)
Fubo very clearly addressed the issue of integrated sports betting with the acquisition of Vigtory. The bear thesis is weakening significantly. Almost nonexistent.
​
​
Now, on to the NBA:
https://www.forbes.com/sites/bethkindig/2021/12/31/fubotv-solid-positioning-for-sports-betting/?sh=5fadb7c69cb5
"Over the past few years, Sky Media led investment rounds in FuboTV along with Fox for a 39% stake. This investment round was increased in late 2017/early 2018 with Sky Media holding Board positions. The former NBA commissioner was also part of the last $15 million round. Media has gone through some very big M&A shifts at the top-level with Comcast acquiring Sky and Disney acquiring 21st Century Fox. However, for FuboTV’s formative years, the company was influenced by arguably the top sports betting company in the world – Sky Media from the UK. The Comcast-owned Sky Media is still a backer for FuboTV along with Disney."
David Stern, the late former NBA commissioner was involved in funding of Fubo. The current NBA commissioner Adam Silver worked extremely closely with his mentor. I've been a lifelong NBA fan and I had doubts in Adam Silver but I think he's done a fantastic job with the NBA.
Why am I bringing up the NBA?
https://www.casino.org/news/nba-considering-betting-broadcasts-could-help-draftkings/ (check the date of this and check the date of the Fubo Vigtory announcement)
People are missing some key elements to the NBA announcement: this announcement was made literally the DAY after the Fubo Victory acquisition. People are missing the link between the NBA and Fubo, let alone the timing. Fact check me, they were announced a day apart and Fubo is the ONLY company with plans of an integrated sports betting broadcast platform.
The NBA wants to get into this because they know viewers watch games for longer with sports betting and fantasy leagues (which is why I think they threw in DraftKings)
​
​
Now, lets look into two key acquisitions:
- Vigtory - Fubo acquired them and put their co-founder in charge of integrated sports betting along with their licenses and tech.
Balto - This one is another thing bears are missing. They claim this acquisition was to get into sports betting, it wasn't this was for their fantasy sports platform which Fubo is also planning on integrating.
​
Fubo is going to be an absolute monster going forward. It is trading at a discount thanks to shorts https://www.marketwatch.com/investing/stock/fubo
34m shares short, 62.5% of float shorted. This thing is PRIMED for an epic squeeze AND it's valued at a discount right now.
Since the Vigtory acquisition, new price targets came out ranging from $47 to $60.
Short term, I'm confident this thing will pop soon. It was hammered down after the Vigtory announcement by shorts, followed by a low volume selloff Friday. It's trading at imo, a massive discount right now.
Long term, this thing is shaping up to be a unique competitor in streaming/sports betting.
​
TL;DR - get in long, one way or another. Commons, LEAPS, anything... this thing is going to explode as we inch towards earnings (expected late January to mid-February). We got massive revenue growth, we have strong tailwinds with the return of sports, we have the NBA basically saying they're in as long as Fubo can execute.
submitted by heardme to wallstreetbets [link] [comments]

Illegal Tactics and DTCC/Prime Broker Complicity In Naked Shorting & Retail Shutdown of GME (DTCC/Prime Brokers decision makers need to be questioned at the 2/18 GameStop Congress hearing)

TLDR: GameStop’s Congress hearing is on Feb 18th, they need to investigate the Prime Brokers and DTCC for their complicity in enabling naked shorting within GME and by extension, potential collusion to shut down trading on Jan 28th, the day the short squeeze was going to kick off. (stick to the end for an analysis of some illegal tactics short side hedge funds have been using)
Thesis: On the day the retail market for GME shut down on 1/28 (the day the short squeeze would’ve happened had there been no market intervention), DTCC (clearing house monopoly) shut down retail buying in order to protect itself and Prime Brokers (which privately own the DTCC) from being exposed to the consequences of being party to illegal activity. I believe Prime Brokers and DTCC need to be called to the GameStop hearing on February 18th to be questioned for their complicity in enabling illegal naked shorting of the GME stock, as well as potential collusion to shut out retail buyers on 1/28.
In my previous post (which I recommend reading for some context) I explored the subject of rampant illegal naked shorting in GME, and how Prime Brokers (consisting of banks like Goldman, Morgan, etc) and DTCC would be complicit in the naked shorting. This in turn raises the thought experiment that they would be incentivized to do anything possible to prevent the short squeeze from happening on 1/28 because had the short squeeze happened, the shorts would go bankrupt and their Prime Brokers who lent them their naked shorted shares would need to cover the shares. This would not only represent a humongous capital expense for Prime Brokers, the culpability of Prime Brokers (and that of the DTCC) in this situation would also have likely been exposed as well.
A quick primer on what a Prime Broker is: Prime Brokers are essentially the service side of the short- selling business. They lend out securities and cash, you can think of them as the “house” in a casino: They provide a gambler with markers to play and to manage his winnings. According to Matt Taibi, “Under the original concept, if a hedge fund that wanted to short a stock they would first need to “locate” the stock with his Prime Broker but as time passed, Prime Brokers increasingly allowed their hedge-fund customers to use automated systems and “locate” the stock themselves, and what this does is enable short-sellers to sell stock without delivering and thereby perform naked shorts with counterfeit shares. (source: https://web.archive.org/web/20210213125246/https://www.rollingstone.com/feature/wall-streets-naked-swindle-194908/). (I highly recommend you read Matt Taibi’s article on naked shorting and how it was used to take down Bear Stearns and Lehman Brothers. There are so many parallels with GME it’s hard to miss. It’s amazing to consider that 12 years after this article was published and brought to public awareness, the problem of naked shorting still exists as a systemic issue.)
Prime Brokers have a long history of being associated with naked shorting. To highlight a few examples, Prime Brokers like Merill Lynch and Goldman have long been implicated for naked shorting Overstock.com (https://www.rollingstone.com/politics/politics-news/accidentally-released-and-incredibly-embarrassing-documents-show-how-goldman-et-al-engaged-in-naked-short-selling-244035/, https://www.forbes.com/2007/02/02/naked-short-suit-overstock-biz-cx_lm_0202naked.html?sh=271400d1763f). Another example is when Goldman’s Prime Brokerage was implicated by the SEC in 2016 and got away with a small fine of 16 million (Source: https://www.sec.gov/news/pressrelease/2016-9.html). An example that very recently came in the news is a story where CIBC, BOA, UBS and TD Bank Prime Brokerages are accused of facilitating naked short selling and using counterfeit stock to attack and bring the stock price of a company from $34.77 to $1.83 (Source: https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article_id=224548).
The DTCC also has a very long history of being associated with naked shorting. The Wall Street Journal noted that 1% of the DTCC’s volume end in failure to deliver which “have put DTCC in the middle of a long-running fight over whether unscrupulous investors are driving down hundreds of small companies' share prices… DTCC has turned a blind eye to the naked-shorting problem. ” (Source: https://www.wsj.com/articles/SB118359867562957720). The DTCC has also had numerous complaints submitted to the SEC for enabling naked shorting (source: https://www.sec.gov/rules/proposed/s72303/decosta122203.htm) and have been sued tens or hundreds of times for assisting naked shorts (source: https://smithonstocks.com/part-3-in-series-on-illegal-naked-shortings-role-in-stock-manipulation-prime-brokers-and-the-dtcc-have-a-troubling-monopoly-on-clearing-and-settling-stock-trades/ and http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html and https://www.wsj.com/articles/SB118359867562957720)
On 1/28 Robinhood received a letter from the DTCC at 4 am requiring them to halt trading or come up with 3 billion dollars, which Robinhood did not have, and therefore with one swoop of the pen the DTCC shut down buy side momentum but strangely allowed selling. Retail investors were shut out of the market and as any student of microeconomics would know, by shutting buy but only allowing sell, the price is bound to fall. Meanwhile while hedge funds were able to keep trading not only in the market but also crosstrade in the dark pools (“private” stock markets that retail is shut out of, more on this later), and use this crucial lifeline given to them by the DTCC to prevent the squeeze from happening that day.
With retail abruptly being shut out from buy (even cash accounts were shut out, which didn’t make sense) and only allowed to sell, almost everyone could smell manipulation was afoot (which triggered the Congress hearing) and the most of the blame was pointed at Robinhood. Personally and in hindsight, I believe Robinhood was just a willing scapegoat. When we think about who had the most to lose if a short squeeze occurred, I’ll narrow it down to three entities, Shorts and their stakeholders (ie Citadel), Prime Brokers and the DTCC.
It’s important to remember that the actual impetus that triggered the shutdown of the market for retail investors came from the DTCC. Working backwards, if you consider that GME was rampantly naked shorted and DTCC and Prime Brokers would have to be complicit in it, I believe the DTCC, Primer Brokers and possibly Citadel (who provides 40% of Robinhood’s revenue) brazenly manipulated the market on 1/28 by shutting down purchasing for retail buyers to prevent the squeeze from being squoze on that day as doing so would be catastrophic for all aforementioned parties involved. I believe that on the upcoming Gamestop Congress hearings the Financial Services Committee needs to call on decision makers of DTCC and Prime Brokers explore their role and complicity in the shut out of retail buyers that day as well as being enablers of naked shorting in GME.
An interesting thought experiment: On 1/28 when the price was 450+ and shorts were likely under 100, if we assume prime brokers allowed naked shorting in GME, then when the squeeze was about to happen (or happening), if Prime Brokers had margin had called the shorts, they would presumably also also gone down because shorts would not be able to pay in that event and the brokers would be holding the bag. By that logic, they have every incentive in this case to NOT to margin call and instead the most logical option would probably would have been to make a backroom deal, which is what I personally think most likely happened.
If you’ve read up to this point, you might be thinking what can I do about this? I am aware that there a lot of cynicism that we can’t do anything, that there will be no justice for retail investors who were harmed this situation, and that institutions and people in power will prevent anything from being done. I feel this sometimes too, but remember:
A single voice can be drowned out, but if we all speak together then we will make our voice heard. Ape Strong Together.
With the hearing coming up on February 18th, I highly recommend you email and tweet the representatives involved in the hearing, as well as your own district representatives, and urge them to read into the factors presented in this post and call the DTCC and Prime Brokers to the hearingl. They need to be questioned on why GME has so many counterfeit shares, failed to deliver, their complicity in naked shorting, and investigated for their role in the retail shut down of 1/28. Below are 4 members of congress I recommend both tweeting and emailing
Alexandria Ocasio-Cortez https://twitter.com/AOC, email: [[email protected]](mailto:[email protected])
Al Green Al Green https://twitter.com/repalgreen, email: [[email protected]](mailto:[email protected])
, email: [[email protected]](mailto:[email protected])
Maxine Waters https://twitter.com/maxinewaters, email: [[email protected]](mailto:[email protected])
Nancy Pelosi Email: https://twitter.com/SpeakerPelosi email: [[email protected]](mailto:[email protected]).
And you can find other members of Financial Services Committee here to reach out to: https://financialservices.house.gov/about/committee-membership.htm
What follows should probably be a separate post, but I will take the opportunity to summarize some of the illegal tactics that shorts have been identified to be using in their war with retail investors. Note that this may not be an exhaustive list and there may be newer tactics deployed in the future. Retail investors might not have the same tricks, resources and willingness to break the law for profit as hedgies do, but my hope and belief is that if we pool our knowledge and analysis, we will figure out their game and effectively adapt.
Feel free to forward the list below to any representatives and lawmakers if you concur that these tactics were used:
Rampant Naked Shorting - With the extremely high number of Fail to Delivers (FTID) , short interest being as high as 226% recently, and institutions alone holding a staggering 177% of the total float (likely due in large part to counterfeit shares), signs strongly point to GME being rampant with naked shorts and counterfeit shares. I believe the original goal of shorts was to drive GME to bankruptcy with these naked shorts, using the laddering of naked shorts (aka short ladder attack), executed with the help of counterfeit stock which is a classic and reliable method of driving down the stock price. I believe the GME stock has seen relentlessly aggressive short attacks, especially on the week of Monday February 1st, which drove the stock price down and triggered panic selling.
Ladder Attacks with the help of Dark Pools - Another identified method of ladder attacks was identified to come from crosstrading with darkpools (the stock market has its own private stock exchange where institutions can trade…). Essentially darkpools are private stock markets retail investors do not have access to, where short side funds can purchase securities “off market” and then sell “on-market”, with the effect of creating a lot more downward pressure on the market without the upward pressure from buying.
Illegally masking shorts with synthetic longs. Another tactic shorts are suspected of using in GME is the use of illegally using options to evade short positions in violation of Reg SHO which SEC describes in this risk alert and which I elaborate in this post. Essentially it’s the use of using options to create synthetic longs to illegally and artificially cover and prolong short positions and at same time obscuring the true short interest %. If you consider that it would be far more profitable for shorts to not cover at high prices but instead ladder attack the price and wait for retail investors to lose interest and close their shorts at as low of a price as possible, then you can see why this strategy would be very effective.
Using way out-of-money call options to obscure true short interest. You may have heard about the 43 million worth of 800 dollar calls purchased when the price was 100 and found it odd. Later it was identified as a tactic to cheaply purchase synthetic call options (since at 800 its way out of money) to obscure their short positions (with the added benefit of hedging at 800 if a squeeze does happen)
One thing I want to note, particularly to legislators at the GameStop hearing: Retail investors were not incited to pump GME. Retail investors spotted a unique Short Squeeze opportunity created by the greed of short side hedge funds, whereby GameStop was being abusively naked shorted with the goal of bringing it to bankruptcy, and hedge funds were so greedy about it that they shorted the company with a short interest of 226% of float, meaning A LOT of counterfeit shares were being used to short the company. Retail investors saw this as an opportunity to short squeeze the hedge fund shorters, which is a legal and legitimate investment strategy. The short squeeze would have happened had everyone played fair, but instead, financial institutions who were culpable to the naked shorting intervened and shut down retail buying, hurting the retail investors and successfully manipulating the market. The investment itself was in my opinion a sound decision based on the short squeeze, but in hindsight retail investors did not seriously consider the risk of the market would be blatantly and publicly manipulated and that the market would be rigged against them.
If this post was useful (and I hope it was! Gave up my Friday night to write this for you Apes), please upvote for visibility and share it far and wide. The GameStop hearings could be a first step and hope towards legislative change, and it’s extremely important that the right story is told at those hearings (and by the right story I mean the real truth of what happened.) I hope the truly culpable parties are investigated and brought to justice. Again, I know many of us feel cynical that anything meaning will be done towards finding justice against the lawbreakers in this case, but if you feel even an ounce of injustice or empathy at how retail investors were unfairly harmed in the course of investing in GME, I strongly urge you to contact a legislator associated with the GameStop hearings and bring this to their attention so they can review this case with more complete information. In addition I recommend you to contact the SEC and any journalist you know or via journalist tip lines. It’s not going to be easy but the more awareness we raise the higher the likelihood our voices will be heard and positive change will be made.
As we navigate the rocky waters ahead, I’ll gift you with a favorite quote of mine:
The only difference between a nightmare and a dream is how big your balls are.
🚀🚀🚀
Disclaimer: I am not an investment advisor, I just like the stock.
Ps. If you’ve read to the end, I’ll leave you with a few more thoughts and reminders:
- If I were to distill life into one thing, it would be to never lose hope.
- Remember that if you’ve lost money in any way shape or form, don’t be depressed, money can always be made back and the important thing is to maintain a good attitude.
- Only invest what you can afford to lose.
- Perhaps the most important factor in good investing is patience.
If you’d like to read more about counterfeiting stocks this is a good place to start http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html
Note: This is a re-post for visibility
submitted by sfjetsetter to GME [link] [comments]

Illegal Tactics and DTCC/Prime Broker Complicity In Naked Shorting & Retail Shutdown of GME (DTCC/Prime Brokers decision makers need to be questioned at the 2/18 GameStop Congress hearing)

TLDR: GameStop’s Congress hearing is on Feb 18th, they need to investigate the Prime Brokers and DTCC for their complicity in enabling naked shorting within GME and by extension, potential collusion to shut down trading on Jan 28th, the day the short squeeze was going to kick off. (stick to the end for an analysis of some illegal tactics short side hedge funds have been using)
Thesis: On the day the retail market for GME shut down on 1/28 (the day the short squeeze would’ve happened had there been no market intervention), DTCC (clearing house monopoly) shut down retail buying in order to protect itself and Prime Brokers (which privately own the DTCC) from being exposed to the consequences of being party to illegal activity. I believe Prime Brokers and DTCC need to be called to the GameStop hearing on February 18th to be questioned for their complicity in enabling illegal naked shorting of the GME stock, as well as potential collusion to shut out retail buyers on 1/28.
In my previous post (which I recommend reading for some context) I explored the subject of rampant illegal naked shorting in GME, and how Prime Brokers (consisting of banks like Goldman, Morgan, etc) and DTCC would be complicit in the naked shorting. This in turn raises the thought experiment that they would be incentivized to do anything possible to prevent the short squeeze from happening on 1/28 because had the short squeeze happened, the shorts would go bankrupt and their Prime Brokers who lent them their naked shorted shares would need to cover the shares. This would not only represent a humongous capital expense for Prime Brokers, the culpability of Prime Brokers (and that of the DTCC) in this situation would also have likely been exposed as well.
A quick primer on what a Prime Broker is: Prime Brokers are essentially the service side of the short- selling business. They lend out securities and cash, you can think of them as the “house” in a casino: They provide a gambler with markers to play and to manage his winnings. According to Matt Taibi, “Under the original concept, if a hedge fund that wanted to short a stock they would first need to “locate” the stock with his Prime Broker but as time passed, Prime Brokers increasingly allowed their hedge-fund customers to use automated systems and “locate” the stock themselves, and what this does is enable short-sellers to sell stock without delivering and thereby perform naked shorts with counterfeit shares. (source: https://web.archive.org/web/20210213125246/https://www.rollingstone.com/feature/wall-streets-naked-swindle-194908/). (I highly recommend you read Matt Taibi’s article on naked shorting and how it was used to take down Bear Stearns and Lehman Brothers. There are so many parallels with GME it’s hard to miss. It’s amazing to consider that 12 years after this article was published and brought to public awareness, the problem of naked shorting still exists as a systemic issue.)
Prime Brokers have a long history of being associated with naked shorting. To highlight a few examples, Prime Brokers like Merill Lynch and Goldman have long been implicated for naked shorting Overstock.com (https://www.rollingstone.com/politics/politics-news/accidentally-released-and-incredibly-embarrassing-documents-show-how-goldman-et-al-engaged-in-naked-short-selling-244035/, https://www.forbes.com/2007/02/02/naked-short-suit-overstock-biz-cx_lm_0202naked.html?sh=271400d1763f). Another example is when Goldman’s Prime Brokerage was implicated by the SEC in 2016 and got away with a small fine of 16 million (Source: https://www.sec.gov/news/pressrelease/2016-9.html). An example that very recently came in the news is a story where CIBC, BOA, UBS and TD Bank Prime Brokerages are accused of facilitating naked short selling and using counterfeit stock to attack and bring the stock price of a company from $34.77 to $1.83 (Source: https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article_id=224548).
The DTCC also has a very long history of being associated with naked shorting. The Wall Street Journal noted that 1% of the DTCC’s volume end in failure to deliver which “have put DTCC in the middle of a long-running fight over whether unscrupulous investors are driving down hundreds of small companies' share prices… DTCC has turned a blind eye to the naked-shorting problem. ” (Source: https://www.wsj.com/articles/SB118359867562957720). The DTCC has also had numerous complaints submitted to the SEC for enabling naked shorting (source: https://www.sec.gov/rules/proposed/s72303/decosta122203.htm) and have been sued tens or hundreds of times for assisting naked shorts (source: https://smithonstocks.com/part-3-in-series-on-illegal-naked-shortings-role-in-stock-manipulation-prime-brokers-and-the-dtcc-have-a-troubling-monopoly-on-clearing-and-settling-stock-trades/ and http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html and https://www.wsj.com/articles/SB118359867562957720)
On 1/28 Robinhood received a letter from the DTCC at 4 am requiring them to halt trading or come up with 3 billion dollars, which Robinhood did not have, and therefore with one swoop of the pen the DTCC shut down buy side momentum but strangely allowed selling. Retail investors were shut out of the market and as any student of microeconomics would know, by shutting buy but only allowing sell, the price is bound to fall. Meanwhile while hedge funds were able to keep trading not only in the market but also crosstrade in the dark pools (“private” stock markets that retail is shut out of, more on this later), and use this crucial lifeline given to them by the DTCC to prevent the squeeze from happening that day.
With retail abruptly being shut out from buy (even cash accounts were shut out, which didn’t make sense) and only allowed to sell, almost everyone could smell manipulation was afoot (which triggered the Congress hearing) and the most of the blame was pointed at Robinhood. Personally and in hindsight, I believe Robinhood was just a willing scapegoat. When we think about who had the most to lose if a short squeeze occurred, I’ll narrow it down to three entities, Shorts and their stakeholders (ie Citadel), Prime Brokers and the DTCC.
It’s important to remember that the actual impetus that triggered the shutdown of the market for retail investors came from the DTCC. Working backwards, if you consider that GME was rampantly naked shorted and DTCC and Prime Brokers would have to be complicit in it, I believe the DTCC, Primer Brokers and possibly Citadel (who provides 40% of Robinhood’s revenue) brazenly manipulated the market on 1/28 by shutting down purchasing for retail buyers to prevent the squeeze from being squoze on that day as doing so would be catastrophic for all aforementioned parties involved. I believe that on the upcoming Gamestop Congress hearings the Financial Services Committee needs to call on decision makers of DTCC and Prime Brokers explore their role and complicity in the shut out of retail buyers that day as well as being enablers of naked shorting in GME.
An interesting thought experiment: On 1/28 when the price was 450+ and shorts were likely under 100, if we assume prime brokers allowed naked shorting in GME, then when the squeeze was about to happen (or happening), if Prime Brokers had margin had called the shorts, they would presumably also also gone down because shorts would not be able to pay in that event and the brokers would be holding the bag. By that logic, they have every incentive in this case to NOT to margin call and instead the most logical option would probably would have been to make a backroom deal, which is what I personally think most likely happened.
If you’ve read up to this point, you might be thinking what can I do about this? I am aware that there a lot of cynicism that we can’t do anything, that there will be no justice for retail investors who were harmed this situation, and that institutions and people in power will prevent anything from being done. I feel this sometimes too, but remember:
A single voice can be drowned out, but if we all speak together then we will make our voice heard. Ape Strong Together.
With the hearing coming up on February 18th, I highly recommend you email and tweet the representatives involved in the hearing, as well as your own district representatives, and urge them to read into the factors presented in this post and call the DTCC and Prime Brokers to the hearingl. They need to be questioned on why GME has so many counterfeit shares, failed to deliver, their complicity in naked shorting, and investigated for their role in the retail shut down of 1/28. Below are 4 members of congress I recommend both tweeting and emailing
Alexandria Ocasio-Cortez https://twitter.com/AOC, email: [[email protected]](mailto:[email protected])
Al Green https://twitter.com/repalgreen, email: [[email protected]](mailto:[email protected])
Maxine Waters https://twitter.com/maxinewaters, email: [[email protected]](mailto:[email protected])
Nancy Pelosi Email: https://twitter.com/SpeakerPelosi email: [[email protected]](mailto:[email protected]).
And you can find other members of Financial Services Committee here to reach out to: https://financialservices.house.gov/about/committee-membership.htm
What follows should probably be a separate post, but I will take the opportunity to summarize some of the illegal tactics that shorts have been identified to be using in their war with retail investors. Note that this may not be an exhaustive list and there may be newer tactics deployed in the future. Retail investors might not have the same tricks, resources and willingness to break the law for profit as hedgies do, but my hope and belief is that if we pool our knowledge and analysis, we will figure out their game and effectively adapt.
Feel free to forward the list below to any representatives and lawmakers if you concur that these tactics were used:
Rampant Naked Shorting - With the extremely high number of Fail to Delivers (FTID) , short interest being as high as 226% recently, and institutions alone holding a staggering 177% of the total float (likely due in large part to counterfeit shares), signs strongly point to GME being rampant with naked shorts and counterfeit shares. I believe the original goal of shorts was to drive GME to bankruptcy with these naked shorts, using the laddering of naked shorts (aka short ladder attack), executed with the help of counterfeit stock which is a classic and reliable method of driving down the stock price. I believe the GME stock has seen relentlessly aggressive short attacks, especially on the week of Monday February 1st, which drove the stock price down and triggered panic selling.
Ladder Attacks with the help of Dark Pools - Another identified method of ladder attacks was identified to come from crosstrading with darkpools (the stock market has its own private stock exchange where institutions can trade…). Essentially darkpools are private stock markets retail investors do not have access to, where short side funds can purchase securities “off market” and then sell “on-market”, with the effect of creating a lot more downward pressure on the market without the upward pressure from buying.
Illegally masking shorts with synthetic longs. Another tactic shorts are suspected of using in GME is the use of illegally using options to evade short positions in violation of Reg SHO which SEC describes in this risk alert and which I elaborate in this post. Essentially it’s the use of using options to create synthetic longs to illegally and artificially cover and prolong short positions and at same time obscuring the true short interest %. If you consider that it would be far more profitable for shorts to not cover at high prices but instead ladder attack the price and wait for retail investors to lose interest and close their shorts at as low of a price as possible, then you can see why this strategy would be very effective.
Using way out-of-money call options to obscure true short interest. You may have heard about the 43 million worth of 800 dollar calls purchased when the price was 100 and found it odd. Later it was identified as a tactic to cheaply purchase synthetic call options (since at 800 its way out of money) to obscure their short positions (with the added benefit of hedging at 800 if a squeeze does happen)
One thing I want to note, particularly to legislators at the GameStop hearing: Retail investors were not incited to pump GME. Retail investors spotted a unique Short Squeeze opportunity created by the greed of short side hedge funds, whereby GameStop was being abusively naked shorted with the goal of bringing it to bankruptcy, and hedge funds were so greedy about it that they shorted the company with a short interest of 226% of float, meaning A LOT of counterfeit shares were being used to short the company. Retail investors saw this as an opportunity to short squeeze the hedge fund shorters, which is a legal and legitimate investment strategy. The short squeeze would have happened had everyone played fair, but instead, financial institutions who were culpable to the naked shorting intervened and shut down retail buying, hurting the retail investors and successfully manipulating the market. The investment itself was in my opinion a sound decision based on the short squeeze, but in hindsight retail investors did not seriously consider the risk of the market would be blatantly and publicly manipulated and that the market would be rigged against them.
If this post was useful (and I hope it was! Gave up my Friday night to write this for you Apes), please upvote for visibility and share it far and wide. The GameStop hearings could be a first step and hope towards legislative change, and it’s extremely important that the right story is told at those hearings (and by the right story I mean the real truth of what happened.) I hope the truly culpable parties are investigated and brought to justice. Again, I know many of us feel cynical that anything meaning will be done towards finding justice against the lawbreakers in this case, but if you feel even an ounce of injustice or empathy at how retail investors were unfairly harmed in the course of investing in GME, I strongly urge you to contact a legislator associated with the GameStop hearings and bring this to their attention so they can review this case with more complete information. In addition I recommend you to contact the SEC and any journalist you know or via journalist tip lines. It’s not going to be easy but the more awareness we raise the higher the likelihood our voices will be heard and positive change will be made.
As we navigate the rocky waters ahead, I’ll gift you with a favorite quote of mine:
The only difference between a nightmare and a dream is how big your balls are.
🚀🚀🚀
Disclaimer: I am not an investment advisor, I just like the stock.
Ps. If you’ve read to the end, I’ll leave you with a few more thoughts and reminders:
- If I were to distill life into one thing, it would be to never lose hope.
- Remember that if you’ve lost money in any way shape or form, don’t be depressed, money can always be made back and the important thing is to maintain a good attitude.
- Only invest what you can afford to lose.
- Perhaps the most important factor in good investing is patience.
If you’d like to read more about counterfeiting stocks this is a good place to start http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html
submitted by rainforest11 to GME [link] [comments]

Prosper, a crosschain prediction app with working platform and ridiculously low cap

Back in december I came across a small project called Prosper.
#Prosper is a prediction market project, just like augur, only much, much better.
First of all i'll precise that I am not a member of the project. I'm just smone who does his homeworks and likes to help :)
I looked into it superficially and it seemed there was potential so I kept an eye on it until public sale. That is until they canceled public sale to replace it with a mining event, essentially putting their prediction platform to live testing. I decided to participate and mine $PROS. That's when I got convinced this had tremendous potential.
I’ll let you hop onto their platform at beta.prosper.so to check by yourself how predictions work, it’s pretty straightforward. You choose a pool amongst the proposed (currently BNB and ETH, many more to come) and predict whether the price will be above or below the ticker displayed. There you go, 2 clicks and you’re in. The predictions are currently closed until next event, which should happen soon.
So what makes me think it’s just a wonder in the making? here is what:

1. The team:

- The team is composed of some of the guys from Prometeus labs (which is a backer of the project btw). Their LinkedIn and twitters are public, they make AMAs etc. We’re dealing with some serious guys, settled in the crypto industry for years.
- More importantly, their mindset is what convinced me. They’re very focused on delivering their roadmap and more, seem to have a clear picture of where they want their product to go, and how to get there. They also have a good understanding of the tokenomics mechanisms of 2021 cryptos and understand the interest of creation and retention of value in the $PROS token.

2. The investors and backers:

You’ll find a list on the website, but the project seems to have very strong backing, from Prom labs ofc, but also from all the other projects they are working with such as chainlink, Polkadot, Matic etc. And then there is Binance, which is not officially listed, but it is clear to me that they are supporting as a part of the BSC ecosystem. I mean, what project gets listed on Binance when it’s like 3 weeks old ? because yeah , Prosper is listed on Binance already. Also the team is connected through Prometeus labs that has had its own token $PROM listed for years.
I would also highlight that their TG (https://t.me/prosperfi) has already 5k+ people and a growing engaged community. That just does not happen with shitcoin projects.

3. The project:

- The project is at the exact spot I’m seeing this bullrun hit:
- Crosschain on many altchains, and mainly BSC which is rocketing atm, but also Polygon (matic) and Polkadot.
- DEFI: although prediction markets are still a niche in the DEFI, someone you may know thinks they're deemed to take their share of this run (hint: he created Ethereum).
- Non Custodial: You make your predictions and claim your gains straight from / to you own metamask wallet (walletconnect will be implemented). Your keys, your money. Best thing? BSC will let you do that for a few pennies of fees.
- The DAO: team will let holders and community participate in the project governance. Will become pretty standard in the future of crypto projects, but we have here a DAO that took a huge decision in the very first week of its existence (see tokenomics section), and that is telling a lot about the strength of the project.
- It is alive and kicking: the platform has been launched and ran for several days as a beta. It saw tremendous volume (over 18.5 M USD) and generated over 355k USD in fees in less than 10 days. This is absolutely huge, espetially considering those fees are going back to the treasury, feeding the whole project as well as holders pockets.
-The UI is miles ahead of the competition. Let’s you literally place a prediction in two clicks.
- It has an open road to capture a good chunck of the Prediciton market: competition is either old news and outdated in technology (augur etc.), or just announced and very far from hitting the market (polkamarket etc.).
- It has many features on the roadmap, with the main being a mobile app (coming out soon), and sports bets. The team already leaked in an AMA (https://www.youtube.com/watch?v=9IB8s6GtVww) that they have secured a partnership with a huge sports betting site. Its is also developing a unique system of bet insurance, and the possibility for holders to open their own custom pools (i.e. be the casino).
- The platform is already ported in Chinese. The fact that china is a gambling addict and bet lover country is news to no one.
- Last but not least, they just announced that they will keep making mining events every time the project is ported to a new Blockchain, giving the opportunity to users to get the BC’s native token + to pro holders to pocket even more Pros. When does this stop getting better ??

4. The $PROS tokenomics:

- The Max supply is 100M $PROS. The circulating supply is currently about 4.5M.
Here is the repartition and unvesting schedule of the supply:
Investors: 4.57M Strategic + 3.4M Seed + 0.25M Presale + 2.01M Private :
½ released on UNI listing in Jan.2021
Seed round: 9 months of linear vesting (0,35% / day), starting from April 14th; Strategic round: 6 months of linear vesting, starting from April 14th; Private round: 8 months of linear vesting, starting from April 14th; Presale round: 3 months of linear vesting, starting from April 14th.
Marketing: 10M - 3 months lock-up, after — 10% per month.
Community funds: 5M - 6 months lock-up, after — 10% per month.
Reserves: 15M - Locked for urgent situations, the community will be notified in advance before unlock;
Ecosystem: 12M - 6 months lock-up, after — 25% every 3rd month.
Team: 13.38M - 1 year lock-up, 1 year linear vesting period;
Staking Rewards: 30M - Remain locked until the binary liquidity program an on-chain aggregation launch.
As you can see, we’re not having a cliff release, the team actually changed their initial plans to adopt linear unvesting and help protect the price of the token, and avoid dumps. Equally, DAO voted in the very first week to delay the start of unvesting by 2 full months in order to give time for product and features roll out. With a total of 99% yeses on the vote, it means that even investors probably voted to vest their own tokens longer, which means they’re in to support the project on the long term.

5. Use of the Token:

This is a very important part. As already said, team has taken good measures to increase the value and rewards of holding $PROS.
Amongst them are mainly the staking (team leaked: very very soon) and Liquidity providing. We don’t have announcement on that yet so I can’t tell more, but I’m feeling it will be huge as part of the fees collected by the platform will be redistributed to the stakers.
Another very interesting use is the DAO vote of course, and the future possibility for the holders to create their own prediction pools and earn fees from them. This is just one of the best use case I’ve ever seen for a token.
These are just the first and announced reasons to hold PROS, and with such low circulating tokens I’m expecting the demand to ramp up pretty fast.
​
So these were all the infos on Prosper and $Pros I have, feel free to DYOR :
Website : https://prosper.so/
Prediciton platform : https://beta.prosper.so/
Medium : https://medium.com/pooler
Main telegram channel: https://t.me/prosperfi
Buy $PROS on Binance https://www.binance.com/en/trade/PROS_ETH
And
UNISWAP https://info.uniswap.org/token/0x8642a849d0dcb7a15a974794668adcfbe4794b56
Before you go I’ll try and help you with one last thing: lets say you saw the value in the project, here is an interesting last info :
#Prosper is currently below 10M market cap.
Which is ridiculously low for such project.
Main competitor is at 160M, and is way behind on pretty much all topics.
It is currently one of the very lowest cap listed on Binance.
As for the price ? Although it keeps going up at a reasonable pace, i would say that it has a lot of room to grow upward from the consolidation phase it has had for 2 weeks now. The team announced some staking news for as soon as this week-end, and i'm expecting it to move the price considerably.
submitted by cryptosna to CryptoMoonShots [link] [comments]

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