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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

#381

Post by tiahura »

rvz wrote: post #172
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…

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…

Am I the only one who see's parallels between the above paranoia and "the election was stolen and they're not even hiding it?"

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

#383

Post by greatpatton »

mFixman wrote: post #111
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…

> some irresponsible newspapers blaming the whole thing on GamerGate and Alt-Right [...] What?

yes Financial Times! this is a real low for a journalist...

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

#384

Post by lordnacho »

snowwrestler wrote: post #187
wyldfire wrote: post #26

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…

The way to make money in a bubble like this is to sell right before the pop. At some point the word will go out that it’s over—“we won”—and everyone will rush to sell their GME and take profits. It’s not possible for all those people to succeed. Broker apps like Robinhood will be absolutely overwhelmed with sell orders, many of which will run into technical problems and/or no counter parties. A lot of people are goin…

> Broker apps like Robinhood will be absolutely overwhelmed with sell orders

Shouldn't be possible. Most of the messages to the orderbook, by orders of magnitude, would be market makers doing add/cancel, which isn't something that comes from RH anyways.

How often is one particular user going to send in an order? 10 times a day if they're particularly busy? Doesn't touch the sides. The internet facing gateways can be scaled up easily if that's even needed, they aren't latency sensitive. The inside towards the exchange can be made extremely fast.

I've built systems that do this.

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

#385

Post by JumpCrisscross »

wyldfire wrote: post #26

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…

> Can someone help me understand Robinhood's POV?

Robinhood is a margin-lending options-trading broker. If a customer falls down on a trade, it is ultimately liable. If a retail customer loses money and makes a FINRA complaint that Robinhood induced them to buy through its gameified interface, it is liable. Risk and compliance likely made this call.

Also, Robinhood makes its revenue from market makers. They are the customers. Clients are not. So when trading these equities gets unprofitable, they will pull the plug. (Though anecdotally, everyone I know on the sell side in equities and equity derivatives is making a killing on this.)

What I can guarantee is nobody shorting GameStop got Robinhood to pull the plug.

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

#386

Post by Sebb767 »

koheripbal wrote: post #182
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.

The WSB sub is almost certainly going to get banned by Reddit. Given the track record Reddit has of keeling over to public pressure, there is no way they are going to stand up to the SEC.

I'm not so sure. This subreddit is immensely popular right now, when they get banned the receiving backslash might be Reddits Digg-moment. And they are probably aware of this.

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

#387

Post by [deleted] »

fvbdbdhbdb wrote: post #254
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…

Serious question. Is the whole David vs Goliath narrative unfounded? Over the last 8-10 years online activism/mobs have increasingly been co-opted by those in power as a means of astroturfing. I think it is totally fair to be skeptical and ask whether that is going on here. One thing is for sure. Even if this is organic, it won’t be next time. After seeing this why wouldn’t some hedge fund orchestrate something like…

[deleted]

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

#388

Post by WSB_Mod »

koheripbal wrote: post #182
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.

The WSB sub is almost certainly going to get banned by Reddit. Given the track record Reddit has of keeling over to public pressure, there is no way they are going to stand up to the SEC.

With 175MM+ pageviews yesterday alone, I'm sure they're ecstatic about WSB's growth.

This chapter in WSB has brought forth substantially better communication with the admins than we'd ever had in the past, including a direct line to Alexis.

Edit:

Thank you all for the outpour of support!

Our main challenges thus far have been technical (hitting API limits, automoderator backlog, etc.) however, those issues have now been resolved and our bots are running better than ever before.

We largely owe our success in handling this to the Reddit engineering team who has routinely stepped up and fixed things. As chaotic as the scene has been for us moderators, I'm sure they have been under much more pressure. If you know a reddit engineer, please give them your thanks as they have done a phenomenal job.

For those curious, the surge in activity broke a number of things. Here are just a few:

> modmail surpassing 80,000+ messages resulting in modmail going down

> constant threads hitting 100,000 comments resulting in slow loading site-wide

> automoderator getting backlogged and taking 30+ minutes to parse comments leading to terrible comments getting through.

All these issues are now resolved, so once again, big thanks to the Reddit engineering team!

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

#389

Post by acdw »

I'm personally really pissed off because I made a Robinhood account last night to buy $10 each f AMC and GME, the first stock trading I've ever done. I just want to make some extra money so I can start a family, you know?

I feel like the history of my personal financial life has been the increasing awareness that nobody with any power cares one whit about me or anyone like me.

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

#390

Post by cambalache »

notacoward wrote: post #355
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.

Please don't use rape as a metaphor.

Yeah, also add to the list:

Kill, maim, torture, force, destroy ...

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