Censorship, Cancel Culture - - and now, throttling smaller retail traders again giving the big institutions and hedges more power.
Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
121–130 of 1001 posts
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#122Can 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…
Reddit and discord are afraid they'll be implicated in what is a classic pump and dump. Robinhood only exists because the SEC has chosen to look the other way concerning the pattern day trading rule which clearly is in jeopardy if big money starts complaining.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#123Wow. 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.
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Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#124Earlier quoted context omitted.
So FYI, the Reddit WSB "shutdown" was temporary and on purpose (by the mod admins) to clean up the page a bit. It was private for an hour or two and back up. Discord, not so. Looking at the financial backers of Discord, you can pretty quickly draw a link to the short sellers. Presumably some phone calls or dinners were had last night and strings were pulled to shut the discord down.
What you are describing would be Discord engaging in (potentially illegal) market manipulation.
How?
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#125This 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.
Ah, but what about being able to sell?
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#126Earlier quoted context omitted.
So FYI, the Reddit WSB "shutdown" was temporary and on purpose (by the mod admins) to clean up the page a bit. It was private for an hour or two and back up. Discord, not so. Looking at the financial backers of Discord, you can pretty quickly draw a link to the short sellers. Presumably some phone calls or dinners were had last night and strings were pulled to shut the discord down.
What you are describing would be Discord engaging in (potentially illegal) market manipulation.
This will be somewhat difficult to prove because the WSB discord (for the hour I was in it) was more or less a walking terms of service violation, near totally consisted of "ironic" racial slurs and "ironic" racist memes, n/f-word everywhere.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#127This is not limited to these stocks - I’ve been stopped from buying some REITS, closed end funds, ETFs, ect (even DNP).
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#128Can 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…
>Can someone help me understand Robinhood's POV?
This is a small part of the picture but RH lost a lot of money due to WSB advertising and exploiting the 'infinite money glitch' so it likely didn't take much convincing to act against WSB.
Though ironically it took them months to close the glitch which was their fault and a day to stop the action on WSB's picks.
https://markets.businessinsider.com/news/stocks/robinhood-fi...
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#129I’m fuming, and about as angry as I’ve been in years because of this. Robinhood opened up a bunch of levered trading to amateurs, that was fine! Allowing folks to buy stocks that are making their business partners lose cash: we’re protecting the little guy.
If you work at Robinhood and you continue working at Robinhood I don’t know how you’ll continue to sleep at night.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#130Lol, what else to say but: Buy Bitcoin?