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Robinhood now has a 1-Star rating on the Google Play Store

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Re: Robinhood now has a 1-Star rating on the Google Play Store

#31

Post by dj_mc_merlin »

sneak wrote: post #7

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.…

I really don't think you'll get a good answer from anyone for a couple of days at least. This is quite unprecedented (not them halting buying of a certain stock, but the whole situation with its underlying context).

Re: Robinhood now has a 1-Star rating on the Google Play Store

#32

Post by ckastner »

cromka wrote: post #21
xxpor wrote: post #8

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.

Why would they? They just need spam protection. If legitimate, independent users vote them down in thousands then why would an app need a protection?

What would be something positive about allowing mobbing?

Re: Robinhood now has a 1-Star rating on the Google Play Store

#33

Post by stickydink »

mycentstoo wrote: post #13
muleroid wrote: post #11

Earlier quoted context omitted.

I believe App Store updates a day later, so we're likely not seeing the results of any mass rating bombs.

Ah that makes sense. I wasn't aware of that.

App Store also allows you to reset the ratings when you launch an update

Re: Robinhood now has a 1-Star rating on the Google Play Store

#34

Post by Pasorrijer »

outoftheabyss wrote: post #28
Pasorrijer wrote: post #14

Earlier quoted context omitted.

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…

Then why not communicate that in a diplomatic way. Their business and user base is at stake

When your marketing model is built entirely on sticking it to the man, how do you communicate that the man has you by the balls and you have no recourse because your business model is built on the man paying you off.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#35

Post by rapsey »

sneak wrote: post #7

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.…

Robinhood owners are the ones bleeding money from GME.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#36

Post by rcruzeiro »

linksen wrote: post #20

Don't worry, google knows how to obscure these things. Just look at the voting on Biden's inaugural youtube videos. One day tens of thousands of down votes. Next day just a few thousand. source: https://reclaimthenet.org/youtube-scrubs-thousands-of-dislik...

Source?

Re: Robinhood now has a 1-Star rating on the Google Play Store

#37

Post by metalliqaz »

sneak wrote: post #7

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.…

It is very likely that their "upstream" partners asserted this, and Robinhood didn't have much of a choice. Their biggest mistake is probably the god-awful communication with customers about this decision.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#38

Post by bszupnick »

sneak wrote: post #7

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.…

My understanding is that Robinhood didn't actually block these purchases but rather the service they use to buy/sell stocks blocked it called Citadel

So it's not Robinhood, persay, but rather Citadel.

Why did Citadel block purchasing of GME stock? Because Citadel just invested 2 billion dollars in Melvin Capital Management; one of the hedge funds that has a lot to lose as long as the GME stocks keep going up.

Re: Robinhood now has a 1-Star rating on the Google Play Store

#39

Post by alangibson »

anm89 wrote: post #23

When retail in traders en masse decide that a trading platform is impinging upon their rights, the SEC should be obligated to open an investigation. Isn't this pretty much a major component of their intended purpose?

The SEC has led the charge of government agencies away from anything that could reasonably be called regulation. Take note of how often the term 'oversight' is used vs 'regulation' when these guys are talking.
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