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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

#621

Post by ummonk »

zarkov99 wrote: post #57

Sure. Robinhood got a call from someone very powerful in their circle, politely asking them to stop the amateur plebes from interfering with their professional market manipulation. We are taking about people commanding titanic amounts of capital and (indirect) regulatory power. Robinhood then had the choice, do we make enemies out of these people or do we just screw, er, I mean protect, our customers? Unburdened by a…

D1 capital is a Robinhood investor and was reported to have lost 20% in the markets due to this revolt.

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

#622

Post by tootie »

vergessenmir wrote: post #365
zarkov99 wrote: post #57

Sure. Robinhood got a call from someone very powerful in their circle, politely asking them to stop the amateur plebes from interfering with their professional market manipulation. We are taking about people commanding titanic amounts of capital and (indirect) regulatory power. Robinhood then had the choice, do we make enemies out of these people or do we just screw, er, I mean protect, our customers? Unburdened by a…

This is so true. It's all connected. It's probable that Reddit, Discord, RobinHood have all received calls to disrupt retail traders from political players or financial backers. There's no evidence of this, the truth is we'll never know, but how its most obvious reason. If only RobinHood would live up to its namesake. It is alarming that "soft" circuit breakers are being used to target retail traders on exchanges. I…

We already know that this is not what happened with reddit. And there's absolutely no reason to think RH has done this either. It is also grossly naïve to think that any investor who wasn't short on GME isn't already on the bandwagon.

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

#623

Post by bytematic »

gmm1990 wrote: post #594
bradleyjg wrote: post #3

If they were just blocking margin trading or trades with unlimited risk that would be one thing. But this smacks of either paternalism or trying to manipulate the market. I hope they lose a lot of customers (or product depending on your POV).

I'm pretty happy they are doing it. This is really in the best interest of the average Robinhood user trying to buy GME right now. Maybe they shouldn't completely ban it, but there should be at least very extreme warnings about why its a terrible idea to buy.

Informing your customers is one thing. Blocking them in "their" own interest is a ridiculous overstep. We make platforms and tools to empower users, not to force them down whatever path we deem best for them.

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

#625

Post by always_left »

jacobsenscott wrote: post #581
zarkov99 wrote: post #57

Sure. Robinhood got a call from someone very powerful in their circle, politely asking them to stop the amateur plebes from interfering with their professional market manipulation. We are taking about people commanding titanic amounts of capital and (indirect) regulatory power. Robinhood then had the choice, do we make enemies out of these people or do we just screw, er, I mean protect, our customers? Unburdened by a…

Only a small fraction of RH's customers bought into the fantasy they are fighting some kind of revolution against hedge funds (or that 'the smoking man' paid them a visit in the night...). The vast majority don't care about any of these stocks. Also, by making trading so easy RH has a responsibility to protect amateur investors from making terrible financial decisions. If you really want to buy game stop stock or wha…

Protecting them is one thing, but ceasing all buys before the market opens and without warning is irresponsible.

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

#626

Post by rantwasp »

gmm1990 wrote: post #594
bradleyjg wrote: post #3

If they were just blocking margin trading or trades with unlimited risk that would be one thing. But this smacks of either paternalism or trying to manipulate the market. I hope they lose a lot of customers (or product depending on your POV).

I'm pretty happy they are doing it. This is really in the best interest of the average Robinhood user trying to buy GME right now. Maybe they shouldn't completely ban it, but there should be at least very extreme warnings about why its a terrible idea to buy.

really? really?

this is stock investing 101. don’t invest what you cannot afford to lose. i find it condescending and insulting that they are claiming to protect the users.

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

#627

Post by dhritzkiv »

sampo wrote: post #282
bko wrote: 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…

> This is small potatoes. Do you know how the Arab Spring started? A municipal official bullied a street vendor who was selling produce from a cart roadside. https://en.wikipedia.org/wiki/Arab_Spring#Events_leading_up_... https://en.wikipedia.org/wiki/Mohamed_Bouazizi

Was any of his produce small potatoes? (I only joke)

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

#628

Post by MuffinFlavored »

zarkov99 wrote: post #57

Sure. Robinhood got a call from someone very powerful in their circle, politely asking them to stop the amateur plebes from interfering with their professional market manipulation. We are taking about people commanding titanic amounts of capital and (indirect) regulatory power. Robinhood then had the choice, do we make enemies out of these people or do we just screw, er, I mean protect, our customers? Unburdened by a…

Everybody screaming "class action lawsuit" is lying to themselves. I'm pretty confident this is totally within Robinhood's rights according to their terms and conditions (that everybody with an account agreed to).

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

#629

Post by irrational »

I understand that the hedge funds stand to lose a lot of money, and potentially go bankrupt, but isn't that just one of the risks when you play the stock market? There is no guarantee that all your bets will end up making you money. If you want a sure thing, put your money in bonds or some other investment that has low risk. The hedge funds are acting like they deserve to make money off their shorts and them not making that money is theft in some way.

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

#630

Post by retube »

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…

I know there's a lot of conspiracy around wall st screwing over the little guy here, I suspect the truth is more mundane. When the music stops a LOT of people will be left holding the bag and will lose a great deal of money. There are people putting their parents life savings into GME at $300/share. It's insane, and nothing but pure gambling at this point. I suspect regulators are extremely concerned at the risk people are exposing themselves to.
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