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Maybe one of these newly-minted millionaires can cash out and use their gains to sue.
[0] https://www.bloomberg.com/news/articles/2019-11-05/robinhood...
I wonder if this is just for after hours trading. You would think the user could at least place an order for execution when the market opens. GME was up over $100 pre-market when I got up this morning, so someone somewhere is buying.
The variations are extreme, in the morning it was hitting 500 USD in the morning, and now 400 USD.
Why do Robinhood, Reddit, Discord, etc feel like they have to respond to this? Whether the investments being made are responsible or not, it doesn't seem like it should be their place to intervene.
If the hedge funds over-shorted GME and WSB recognized that and traded against that bad analysis, then that's great! If the pendulum swung the other direction and WSB is trading into some momentum, how is that any different than the hedge funds doing the same with shorts? Why should Robinhood pick a winner (siding against their own customers)?
Wow. First the Discord ban and then this - clearly the billionaire hedge fund managers have been busy pulling strings overnight. Limiting it so you can't buy, you can only sell... Very clearly helping the hedge funds here.
The head of NASDAQ even suggested a Tradimg Halt so institutions can adjust to combat retail investors better!
Seriously, if a fund did this, they'd be patting themselves on the back, and would have had little to no backlash from their brokers.