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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

#221

Post by herewegoagain2 »

Bud wrote: post #202
TheRealDunkirk wrote: post #87

Earlier quoted context omitted.

> 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.

There's not any real reason to be concerned about this. Not yet, at least. Furthermore, this comment is offensive. Let's please not pretend that Facebook and Twitter were "looking for an excuse" before deplatforming Trump. They were entirely justified and would have been justified in doing so many years before they eventually did so. Let's also not put the word "incite" in dick quotes barely three weeks after an insu…

Let's all pretend to have the same opinion and believe in the narrative.

Why exactly, again?

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

#224

Post by dhdhhdd »

Clickbait. They're reducing the (risky) leverage. "A Schwab spokeswoman said that the platform changed its margin requirements, limiting how much an investor can borrow, on Jan. 13 and said it has placed “restrictions in place on certain transactions in GME and other securities"

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

#225

Post by netsharc »

zarkov99 wrote: post #37

This is unbelievable. If there ever was a time to be outraged. This is naked corruption as usual hiding under the shabbiest veil of virtue. RobinHood traders can bankrupt and kill themselves, and that is fine, we will continue prodding them to trade more often, but once we get a call from one our hedge fund buddies, moaning about the rubes stopping him from raping another company, we will shut the rabble down.

Ah yes, speculate, and then be outraged from your own unfounded, evidence-less, conclusions... should we storm the Capitol next, because we are dead certain the election was stolen?

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

#226

Post by snakeboy »

bko wrote: post #136
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…

> 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…

I think it's important to put this in the context of many other related issues/pressures:

* Increasing wealth inequality for several decades now

* older generations holding onto more wealth and power in society than ever before - with a large share of their wealth in the stock market

* Wall Street is seen as entirely unaccountable due to 2008 bailout

* Pandemic this year has basically been a huge wealth transfer from normal people and small businesses towards large conglomerates and the wall street hedge funds who back them

* Institutional trust is at historic lows, while online spaces become more and more regulated by those same institutions

So maybe GME stock is small potatoes in the grand scheme of things, but it seems like all of this has to reach a boiling point eventually. I'm not sure what that will look like, but violence wouldn't be surprising.

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

#228

Post by jMyles »

snowwrestler wrote: post #36

Brokers are worried about their legal exposure at this point. They could face lawsuits from investors in Melvin and other hedge funds, who will allege that the brokers knew they were facilitating intentional financial harm. It doesn’t matter if these are likely to fail; they are expensive lawsuits to defend against and therefore may result in settlements. And they could face class action litigation from trial lawyers…

> who will allege that the brokers knew they were facilitating intentional financial harm

Is it possible to make such an allegation in a way that doesn't also plausibly describe parts of the everyday behavior of a hedge fund?

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

#229

Post by listless »

Bud wrote: post #202
TheRealDunkirk wrote: post #87

Earlier quoted context omitted.

> 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.

There's not any real reason to be concerned about this. Not yet, at least. Furthermore, this comment is offensive. Let's please not pretend that Facebook and Twitter were "looking for an excuse" before deplatforming Trump. They were entirely justified and would have been justified in doing so many years before they eventually did so. Let's also not put the word "incite" in dick quotes barely three weeks after an insu…

I think there's plenty of reason to be concerned, but certainly not enough to be terrified or overreact with comments like "this comment is offensive".

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

#230

Post by wdobbels »

JohnJamesRambo wrote: post #66
Dem_Boys wrote: post #38

This whole Game Stop situation has made the power of the rich so obvious and disgusting. They temporarily shut down the market, banned the discord server, and are now preventing people from buying stocks on the most popular app used by small time investors. All of these moves hurt the small time investor trying to cash in on the next bitcoin-like bubble. This just creates more division, more disgust, and more of a cl…

Just invest in Bitcoin now, it is going to do the same thing in a few months. And it can’t be censored like this. I admire the gme crowd’s efforts but they are so misguided. Investing in zombie companies we actually hate is pointless. Yes you might bankrupt a hedge fund or two but the system will continue. Bitcoin was created for the disruption to the corrupt financial system that they are seeking.

I mean, GME has value because it is shorted so much. The goal of WSB is to go for a short squeeze (when the short positions have to be closed to avoid going bankrupt, the stock price goes up). In that regard I'd consider bitcoin to have less "value", as its price is mostly based on hype, and it doesn't really have any practical uses.
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