Live data from Hacker News

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

twitter.com

171–180 of 1001 posts

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

#171
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…

There's cryptocurrency.

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

#172
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…

Yes. You can now see the true extent of their tricks and possible ways of shaking the WSB traders. Obviously these large guys are using their influence and connections to drive FUD, lies and fake news to frame their enemy / target (/r/WSB) to give in and sell. Even the stock brokers are in on it. All of this to protect the losses of the irresponsible and the greediest of hedge-funds and short-sellers.

Best part? They are not even hiding it. Everyone can see the message.

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

#173
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…

> the powers that rule USA don't realize that soon the only tool left to common people is violence?

A clever way to create a situation to pass mass gun control and limit those pesky civil liberties, no?

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

#174
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.

It's not that those stocks hold specific value, it's that the denial of trade demonstrates to people a lack of personal power and freedom with regards to their own finances and where they may be directed.

it signifies a small loss of financial liberty and flexibility on behalf of the citizenry, which is enough to spark upset.

meanwhile large groups are allowed to systematically abuse in-place systems in a semi-visible public fashion without backlash or repercussion from regulators in most cases, exacerbating the perceived difference between 'Us and Them', fueling outrage and divide even further.

It's easy to consider why this might upset people.

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

#175
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…

If I were running a financial brokerage I'd totally do this, too. It's not a matter of "helping my hedge fund broker friends", it's a matter of "how do we keep the SEC off our backs". Remember: Robinhood is already being charged with securities law violation for giving their customers a raw deal on order execution.

We usually don't see distributed market manipulation like this, but I wouldn't be surprised if a shitton of people buying GameStop to squeeze a short-seller breaks securities law. Does it feel good to get one up on a hedge fund idiot that was trying to manipulate GameStop the other way? Yes - but this is, at best, financial vigilantism.

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

#176
post #42

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…

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.

> Looking at the financial backers of Discord, you can pretty quickly draw a link to the short sellers.

Mind elaborating on this?

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

#177
post #136
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…

> the powers that rule USA don't realize that soon the only tool left to common people is violence? Do you honestly believe this? Somehow we'll go from not being able to buy certain stocks to violence? Banning collecting rain water on your own property didn't do it. Abject failure of politicians keeping drinking water clean didn't do it? Not being able to buy cheese from unpasteurized milk didn't do it. Can't grow a…

straw, when the camel broke.

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

#178

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…

When markets move rapidly, and in GME’s case we are T-1 from opex, brokerages cannot manage risks effectively. They could actually be exposed quite a bit. With something like GME (probably an 8 sigma event) it could actually put Robinhood out of business.

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

#180
post #103

Earlier quoted context omitted.

I just tested it with IBKR and was able to create a call buy order (exp 1/29, $500 strike) for a single contract. Info: Market was closed so the order wasn’t executed but it was accepted by the order system before i cancelled it.

I have a message: "Transactions in this instrument are limited to closing-only trades" @ Jan29'21 300 CALL GME.

You’re right. I get the same message for Jan 29’31 300 CALL but do not get the message for the $330 or $500 strike. Looks like its only for ITM strikes.
Post reply on HN