Take from the rich and... oh wait you're not allowed to do that.
Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
331–340 of 1001 posts
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#33299.99% (or more) of people who buy lotteries, lose ALL their money. However, government allows anyone to buy them. There is no meaningful restriction for an assured destruction of wealth for most of those who buy them. While this GME/AMC run will not end well for many people, restricting people from buying those stocks - whether it is through actions of trading platforms or governing agencies - smacks not just of pat…
Yes. The way the short squeeze has been working so far is the hedge funds do a ladder short to drive the price down, and retail buys up shares, sending price back up. Without retail to buy shares, price can keep falling until people get freaked out and sell their shares, which is what the hedge funds want.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#333This 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? 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.
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Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#334Earlier 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 follow the bitcoin crowd a bit. Everyday they issue claims like 'bitcoin was made to free us from wealthy people games' it felt echo chamber / tinfoil at times. This isn't hurting their theories.
This is just shifting who's getting the unreasonable, unnecessary transfer of wealth weighted towards the earlier adopters.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#335This 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…
Perhaps but Americans won't result to violence en mass. Despite what you may have seen, Americans are rather docile. A small minority of folks who just so happened to be of military age during the country's longest war but never signed up to fight are the same people who buy the most guns and saber rattle about civil war, etc...
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#336Earlier 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 follow the bitcoin crowd a bit. Everyday they issue claims like 'bitcoin was made to free us from wealthy people games' it felt echo chamber / tinfoil at times. This isn't hurting their theories.
They're right that wealthy people game the financial system.
They're insane (or self-interested) to pretend the same doesn't happen in cryptocurrencies.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#337Earlier quoted context omitted.
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.
It may displace the billionaires who run banks, hedge funds, etc... and replace them with billionaires who own huge mining farms. Bitcoin doesn't solve any of our problems. It just shuffles around who's in power.
> and replace them with billionaires who own huge mining farms.
Aren't most crypto coins set up so that mining is only getting harder with time? The ones ending up rich are the old money, the guys that invested into it in its early days.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#338Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#339This 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.
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.
They are artificially reducing the buying volume. Anyone that bought GameStop recently on their platform is now stuck holding the bag or selling for less than it currently would be worth if they were not artificially reducing the buying demand. How do you think people that bought in over $300 feel now that Robinhood has done this? They made a decision knowing about the volatility and that it is likely to go up further due to short squeeze. Now RobinHood has changed the game in after-hours with no warning.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#340Earlier 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…
It was concerning because it was a demonstration of significant soft-power, and I think many people are surprised or hadn't yet considered the implications of that kind of power.