This is ridiculous
Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
81–90 of 1001 posts
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#82This sort of stuff will put people more and more on edge, there is the deplatforming going on, people asserted their power financially, and now getting that removed too, the powers that rule USA don't realize that soon the only tool left to common people is violence? Even more with some irresponsible newspapers blaming the whole thing on GamerGate and Alt-Right, effectively pushing away people that previously could b…
Pump and dump isn’t legal.
Squeezing a short is different then a pump and dump.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#83I'm using Trading212 and they did the same today with GME and AMC.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#84This is interesting, can individual brokerages refuse to trade individual securities or to only allow them to be sold. Unless the SEC authorized these actions I think it arguably makes the brokerages liable for losses and is arguably market manipulation. Transferring securities positions between brokers is relatively costly and time consuming - takes at least a day and there is usually a $40-70 fee - so is a temporary but significant road block.
Robinhood may be wanting to keep their name out if the papers but unless every brokerage does this it will just move elsewhere. Just like the US was going to limit oil futures because they thought institutions were driving up gas costs - then Dubai announced they would continue to trade without restrictions, US dropped that idea like a hot potato because they would rather have high gas prices then have Dubai become the world hub for oil trading.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#85Can someone help me understand Robinhood's POV? This just seems so outrageous that there must be some sane rationale that I'm not seeing. 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…
One of Robinhood's main business partner is Citadel (RH sells their order flow to Citadel). Citadel is also the firm that has bailed out Melvin Capital, one of the hedge funds that took a huge short position in GME. Probably just a coincidence.
I follow the bitcoin crowd a bit. Everyday they issue claims like 'bitcoin was made to free us from wealthy people games' it felt echo chamber / tinfoil at times. This isn't hurting their theories.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#86This sort of stuff will put people more and more on edge, there is the deplatforming going on, people asserted their power financially, and now getting that removed too, the powers that rule USA don't realize that soon the only tool left to common people is violence? Even more with some irresponsible newspapers blaming the whole thing on GamerGate and Alt-Right, effectively pushing away people that previously could b…
Oh please. Robinhood's business model is not designed for this kind of thing. They are not required to tank their own business to allow malcontents to feel better about themselves.
> Oh please. Robinhood's business model is not designed for this kind of thing. They are not required to tank their own business to allow malcontents to feel better about themselves.
Well, they're gonna lose millions of customers over this I predict. How is that not killing their business?
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#87This sort of stuff will put people more and more on edge, there is the deplatforming going on, people asserted their power financially, and now getting that removed too, the powers that rule USA don't realize that soon the only tool left to common people is violence? Even more with some irresponsible newspapers blaming the whole thing on GamerGate and Alt-Right, effectively pushing away people that previously could b…
> the powers that rule USA don't realize that soon the only tool left to common people is violence?
What's even more concerning to me is that, to platforms looking for an excuse, your comment could be painted as trying to "incite" violence, and used as a justification to ban you.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#88Ah cool so does this mean that all the other stocks are safe and will only make me money? Very cool of Robin Hood to protect me from ever being exposed to any risk like this. It’s just really cool to know that they remove the ones that can lose me money.
Nice, Robinhood is a publisher now!
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#89>thread for an unsourced tweet reaching the front page, with everybody assuming it's true
where have I seen this before?
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#90Earlier quoted context omitted.
Don't the ToS include a waiver of taking any legal action against RH, class action suits in particular, and a binding arbitration clause in case you really want to make some noise?
Just because something's in a TOS doesn't make it legally enforceable, especially if you've got enough money collectively for expensive lawyers.
False. There’s no way out of a forced arbitration agreement that bans class actions. The courts always defer to arbitration, even when arbitrability is in question. It’s a ridiculous judicially made trap.