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Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop

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Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop

#111

Post by mFixman »

speeder wrote: post #9

This 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…

> some irresponsible newspapers blaming the whole thing on GamerGate and Alt-Right [...]

What?

Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop

#112

Post by omosubi »

baybal2 wrote: post #78
speeder wrote: post #9

This 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…

I've heard the talk that Robinhood website is an op by a financial fund called Citadel LLC. It may be considered market manipulation on their side well more solidly than some speculation on the internet, not to say a breach of brokerage contractual obligations.

citadel is their market maker but as far as I know is not owned or operated by them.

Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop

#113

Post by x86_64Ubuntu »

speeder wrote: post #9

This 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…

No one is going to become violent over not being able to buy GameStop or Nokia stock.

Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop

#114

Post by rvnx »

rvnx wrote: post #22
powvans wrote: post #16

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.

In the night, GME went from 350 to 250 USD as well; this was when Discord had been banned and the Reddit suspended (both for moderation / hate speech issue). The variations are extreme, in the morning it was hitting 500 USD in the morning, and now 400 USD.

Now 309 USD, only 20 minutes, this comment didn't age well.

Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop

#116

Post by kasey_junk »

voteflipper wrote: post #91
shut_it_down wrote: post #39

Earlier quoted context omitted.

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 keep seeing this pop up everywhere; Citadel != Citadel Securities

You keep saying that but they are literally sub companies of the same larger conglomerate. Their CEO and founder is the same person, he is also both of their primary shareholders.

Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop

#117

Post by dccoolgai »

logicchains wrote: post #31
frongpik wrote: post #12

Earlier 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.

According to the Supreme Court, forced arbitration is fine to have in a TOS. The past couple years there's been more awareness of it, it's one of the nastiest sneak moves in history to take people's rights away en masse. You don't find out until you get in a position where you've been harmed and you go to hold them accountable using the legal system: Surprise! You have to settle in this thing where the defendant pays all the participants. Here's your $200 check for your $200,000 claim, see you next time.

Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop

#119

Post by TheRealDunkirk »

wyldfire wrote: post #26

Can 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…

> Why do Robinhood, Reddit, Discord, etc feel like they have to respond to this?

Indeed. There's a lot of talk about Section 230 lately, and how "precious" it is to freedom of speech. That law protects them from culpability against hosting legally-dubious things like this market move -- and any malfeasant commenting about it -- but none of the big platforms are acting like it exists. They're just censoring anyway, because they are either embarrassed, or are getting their strings pulled. Either stand behind Section 230, or admit you're just censoring things for duplicitous reasons of politics, money, or the rabble.

Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop

#120

Post by vlkr »

zarkov99 wrote: post #57

Sure. Robinhood got a call from someone very powerful in their circle, politely asking them to stop the amateur plebes from interfering with their professional market manipulation. We are taking about people commanding titanic amounts of capital and (indirect) regulatory power. Robinhood then had the choice, do we make enemies out of these people or do we just screw, er, I mean protect, our customers? Unburdened by a…

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