These posts are not evidence to support an argument, it’s conspiracy fueled speculation that is worth less than zero.
Superstonk is just r/conspiracy but exclusively focused on Wall Street.
If the price immediately drops 99.97% with no intervening orders on the tape, there was definitely a technical glitch.
There is no situation where every market maker simultaneously pulls the bid and lets the price fall 99.97%, arbitragers would’ve had a field day since BRK.A would’ve been priced lower than BRK.B, it would’ve been scooped up and resold when the valuations between the two share classes resumes parity.
The market participants that are market making BRK.A have plenty of capital, plus they’re contractually obligated to provide a bid and an ask while the market is open, no exceptions. They would be holding shares as part of their market making activities and have no reason to let the bid fall 99.97%.
The LME unwinding nickel trades a few years back was actually a bad thing, one market participant was extremely short and didn’t have to post margin to cover their position when a short squeeze happened and some trades were unwound. That was an actual example of an exchange helping out a major customer by unwinding trades, this BRK.A situation is not that.
Superstonk is just r/conspiracy but exclusively focused on Wall Street.
If the price immediately drops 99.97% with no intervening orders on the tape, there was definitely a technical glitch.
There is no situation where every market maker simultaneously pulls the bid and lets the price fall 99.97%, arbitragers would’ve had a field day since BRK.A would’ve been priced lower than BRK.B, it would’ve been scooped up and resold when the valuations between the two share classes resumes parity.
The market participants that are market making BRK.A have plenty of capital, plus they’re contractually obligated to provide a bid and an ask while the market is open, no exceptions. They would be holding shares as part of their market making activities and have no reason to let the bid fall 99.97%.
The LME unwinding nickel trades a few years back was actually a bad thing, one market participant was extremely short and didn’t have to post margin to cover their position when a short squeeze happened and some trades were unwound. That was an actual example of an exchange helping out a major customer by unwinding trades, this BRK.A situation is not that.
https://en.m.wikipedia.org/wiki/LME_Nickel