RH is blatantly rigging the system in favor of the hedge funds. Not good.
Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
301–310 of 1001 posts
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#302This 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…
Didn’t it already happen in the capitol insurrection? Will it happen again with some other collection of people? Historically high inequality societies see high instability and even revolution.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#303This 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.
What matters is the lower 50% (aka the poor) get to see, for a brief moment, how the machine really works. WallSt will get their way this time, but I doubt those people will just live as usual with the gained knowledge.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#304Earlier quoted context omitted.
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 shitto…
It's not only that - the current price of AMC, GME, etc... are being manipulated artificially. This is text-book illegal activity. There is no logical derivation of GameStop's financial books that would warrant the kind of stock price it has. It is very very clearly market manipulation, and these exact sorts of manipulations are commonly prosecuted.
No this is EMH at work. Main street has realized that they can attack short positions which are unnatural in size. And they intend to get paid for doing it.
Hedge funds are so used to being the only tool on the block, they overextended, and for the first(?) time the retail side is fighting back.
The professional investing world have so many advantages over main street that it's not even funny. They've got everything from frontrunning, colocation, free money, and leverage(10x), 'unsophisticated' investors only can dream of this. And when they do go belly up, tax payers bail them out, meanwhile the bonus machine keeps churning.
But it is funny and good when main street actually catches them with their hand in the cookie jar.
How is this different from Bill Ackmans attack on Herbal life? https://www.youtube.com/watch?v=bQc6L4ieMwo
How is this different from all the FUD Tesla has gotten over the years? Which CNBC has happily broadcast for years. https://www.youtube.com/watch?v=a-YgFDAroeI
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#305Earlier quoted context omitted.
The head of NASDAQ even suggested a Tradimg Halt so institutions can adjust to combat retail investors better!
We're close to reaching a "let them have cake" point of elite arrogance.
Every day of 2021 I'm thinking those people with the guillotine were less crazy.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#306CTRM (Castor Maritime), BB, NOK, GME, AmC, and others! Important no stock delisted goes unmentioned. Don't let them win, not a single hand!
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#307Earlier quoted context omitted.
It could also be RobinHood trying to avoid their traders bankrupting and killing themselves by restricting them from buying gamestop etc. shares at 10x what they are worth.
A stock market trading app, for consumers, trying to protect consumers by... not letting them buy stocks? If Robin Hood cared about consumers, they probably wouldn't have given them credit that they could then go buy options with.
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Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#308I find the actions of billionaires petty. This is a world of absurd valuations, stocks skyrocketing despite experiencing the equivalent of a world war. And they can't let go of a few billion to some random redditors?
The billionaire class is made to look bad with this, and billionaires must stop this reaction in order to restore the faith and trust in the Ancien regime of the markets.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#309Earlier quoted context omitted.
It’s a pretty classic tactic in the history of conflict. By pushing your opponent into a tight position, you force him to strike first, thus giving you complete justification in your disproportionate response.
> It’s a pretty classic tactic in the history of conflict Yes when executed by a single coherent entity. This is not it, unless you believe there is a powerful cabal controlling twitter, facebook, robinhood, discord etc. They are all doing it independtly to limit the legal and/or financial risks for themselves. Getting people to "strike first" is not the intent, saving $ is the intent here.
Money is the greatest coordinating force in the history of civilization.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#310Can 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…
To some degree, they have a legal responsibility due to the "suitability standard" (link below) to do this. While they aren't recommending GME and the others per se, they certainly profit from the order flow as well as new account sign-ups. People may be making money now, but those who lose their shirts -- especially if the RH platform crashes when they try to exit a position -- are going to be angry. Preventing purchases in the first place is a way to keep those people from litigating, and to demonstrate to regulators that RH didn't attempt to profit from a mad dash toward unsuitable investments.
https://www.finra.org/rules-guidance/rulebooks/finra-rules/2...
Their platform is probably inundated with open orders on these few names, as the price is all over the place. They had outages back in March 2020 and presumably there's a risk of the same if everyone tries to close their positions at the same time (eg, if u/deepf**ingvalue announces that he has exited).