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I'm surprised the app stores (well, at least the play store) don't have hysteresis built in to prevent mobbing the ratings, just in general.
SEC needs to intervene quick
Still 4.8 on the App Store though
I believe App Store updates a day later, so we're likely not seeing the results of any mass rating bombs.
Also, there's this strange thing that some of the ratings disappear and come back later or not.
I wonder what percentage of Robinhood users hold GME - if it's more than 25% I'd say they're finished. If we assume 25% of users hold GME and 80% of GME holders will not return after this fiasco that's extremely significant IMO. Not to say that they'll cease to exist, but I doubt they'll remain the "#1 trading platform."
https://twitter.com/motherboard/status/1354798244455395328
EDIT: This is untrue, please refer to jaywalk's reply.
Can someone who knows more about such things than I explain to me why their weird response to the situation (halting buying, but still permitting selling) was deemed by them to be the best of their options (the other two obvious ones being to temporarily stop dealing in those securities entirely (halting buying and selling), or to continue letting people trade them as they had the previous day)? It's confusing to me.…
Melvin is a $GME short seller predicted to lose BILLIONS due to the people taking the free market back.
Citadel owns the app Robinhood.
Citadel banned purchases of new $GME shares on RH.
Market manipulation.
https://twitter.com/shane_riordan/status/1354786445668610049
^ quoted from here
Ooops their correction here:
https://twitter.com/shane_riordan/status/1354787975058616320
Can someone who knows more about such things than I explain to me why their weird response to the situation (halting buying, but still permitting selling) was deemed by them to be the best of their options (the other two obvious ones being to temporarily stop dealing in those securities entirely (halting buying and selling), or to continue letting people trade them as they had the previous day)? It's confusing to me.…
In the simplest, likely potentially inaccurate explanation... Robinhood doesn't actually make the trades. They pay someone else to make the trades, add a small amount to the price, and that's how they get to 0$ trading price to the end user. The upstream party is refusing to do things, so Robinhood has no choice but to follow the rules that party set. That's like, way over simplified but gets to the gist [Edit cause…
Just as I was wondering how many retail investors might be involved: https://news.ycombinator.com/item?id=25947674 From the number of Playstore votes it seems quite a few? Will be interesting to see if it stays that way. Or if they can somehow cheat their way out of it and get all recent ratings deleted or something. Any guesses?
My guess is that Google will get involved. It's not the first time a mob is trying to destroy the rating of an app. But their rating before all of this drama is not going to last; that's for sure.