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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

#501
Robinhood has announced this restriction on their blog here: https://blog.robinhood.com/news/2021/1/28/keeping-customers-... .

> We continuously monitor the markets and make changes where necessary. In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AAL, $AMC, $BB, $BBY, $CTRM, $EXPR, $GME, $KOSS, $NAKD, $NOK, $SNDL, $TR, and $TRVG. We also raised margin requirements for certain securities.

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

#502
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?

This is a dangerous thing to say in 2021. Merely suggesting violence is an option or eventuality could be considered incitement and get you banned from every major internet platform.

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

#503
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…

It is no exaggeration to say wars have been fought for worse reasons than this.

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

#505

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…

Robinhood allows free trades. With all the new customers loging in and just buying a few stocks, they have to acquire lots of new shares. When this is all over, a lot of retail investors are going to be left holding the bag, and will likely not be continuing customers.

Lots of people saying "you can lose a ton of money"

If you buy 10 shares at $200, that's $2k out of your bank acount, and it's gone, just like if you bought a car.

How do you lose more than that? I'm not talking about shorting and stuff, just buying shares, hoping it goes up, and selling it later.

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

#507

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.

> Given the track record Reddit has of keeling over to public pressure

I'm not sure I'd call it keeling over to "public" pressure.

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

#508
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.

Messing with people's finances is more anger inducing imo than banning people from an internet message board.

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

#509
post #136

Earlier quoted context omitted.

> 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…

If there is a big economic downfall and the government tries to play trickle down bs again I'm sure the populace would be enraged.

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

#510
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…

People who engineered this fake outrage made a lot of money by buying early and selling early, everyone who believed this scam lost money.

Let's punish hedge funds - fake outrage

Stocks are climbing up - fear of missing out

Restrictions on platforms to prevent people from falling into this scam - fake outrage

Scammers' freedom of speech is in danger - fake outrage

Looks like we entered new era where fake outrage on social media (Reddit, HN and Twitter) can make scammers a lot of money.

I am surprised that HN community is falling for this scam.

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