Robinhood now has a 1-Star rating on the Google Play Store • Hacker News Board

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

#111

Post by freeone3000 » Thu, Jan 28, 2021, 7:54 PM UTC

QuesnayJr wrote: post #89

bszupnick wrote: post #38

Earlier quoted context omitted.

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.

I think this is possible, but do we know for a fact this is the case? Melvin claims they already got out of the GME trade. They could be lying, but they would open themselves to a lawsuit from investors if they were. I'm not sure if Citadel can just refuse to purchase GME (RH could just go elsewhere), but maybe they said they wouldn't pay RH anymore for order flow unless they blocked it. But do we know that Citadel d…

RH could not just go elsewhere; moreover, they absolutely could not go elsewhere today. Handling order flow for automated transactions isn't something you can find on short notice.

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

#112

Post by Armisael16 » Thu, Jan 28, 2021, 7:54 PM UTC

dheera wrote: post #93

EDIT: I was wrong, this was removed because it was a repost. However I wish the mods would say why it was removed. Justin Kan posted a tweet about this. I also tried to screenshot and post it to r/wallstreetbets but it got deleted by mods. The mods of r/wallstreetbets themselves are complicit in this. https://www.reddit.com/r/Wallstreetbetsnew/comments/l75z6o/m...

Your post was removed because it was like the thousandth time it had been posted. It's literally the #2 post on the subreddit right now: https://www.reddit.com/r/wallstreetbets/comments/l747eg/cita...

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

#113

Post by Triv888 » Thu, Jan 28, 2021, 7:55 PM UTC

I didn't down-vote them yet, because I used to use only the web app and haven't use them in a while, but I will make sure to down-vote.

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

#114

Post by linksen » Thu, Jan 28, 2021, 7:55 PM UTC

_jal wrote: post #96

rcruzeiro wrote: post #36

Earlier quoted context omitted.

Source?

The source is their need to belong to a group that treats asserting a belief in this horse shit an in-group shibboleth. Much like religious groups that use exposure to non-believers as ways to discourage defection, ridicule from outsiders helps keep them in the fold.

The source was provided with links to the web archive. Please tell me how it is wrong.

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

#115

Post by mattnewton » Thu, Jan 28, 2021, 7:55 PM UTC

ArtTimeInvestor wrote: post #3

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?

I have no idea where this figure came from but Motherboard tweeted it was somewhere near half robinhood's users (had holdings in GME)

https://mobile.twitter.com/motherboard/status/13547982444553...

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

#116

Post by boatsie » Thu, Jan 28, 2021, 7:55 PM UTC

ArtTimeInvestor wrote: post #3

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?

Google will moderate/filter out the reviews. And then maybe the mob will go after Google and we will really see if David can harm Goliath.

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

#117

Post by sgpl » Thu, Jan 28, 2021, 7:55 PM UTC

metalliqaz wrote: post #37

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.

Another thing to note is that one of Robinhood's main investors from their last round, 'D1 Capital', is also down 20% this year [1] with a fund size of 20 billion, so that's a 4 billion dollar hole for them to recover from.

I've only seen mention of Citadel but the short squeeze on these stocks (blocked stocks) continuing could literally have made D1 Capital explode.

In the aftermath of this fiasco, perhaps Robinhood can get away with a small fine. Even a billion would be less than the collective sum all hedge funds involved could have lost had this upward price movement continued.

[1] https://www.bloomberg.com/news/articles/2021-01-28/dan-sundh...

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

#118

Post by l3s2d » Thu, Jan 28, 2021, 7:55 PM UTC

dheera wrote: post #93

EDIT: I was wrong, this was removed because it was a repost. However I wish the mods would say why it was removed. Justin Kan posted a tweet about this. I also tried to screenshot and post it to r/wallstreetbets but it got deleted by mods. The mods of r/wallstreetbets themselves are complicit in this. https://www.reddit.com/r/Wallstreetbetsnew/comments/l75z6o/m...

Your post got removed because it's a repost: https://www.reddit.com/r/wallstreetbets/comments/l747eg/cita...

Don't spread misinformation.

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

#119

Post by ckastner » Thu, Jan 28, 2021, 7:55 PM UTC

ketzo wrote: post #44

ckastner wrote: post #32

Earlier quoted context omitted.

What would be something positive about allowing mobbing?

Maybe an app committed a sudden, devastating action against all of its users. That would be worth warning potential downloaders about, no?

That (and the related sibling's comments) is a fair argument, but admittedly not what thought when I first pictured the term "mobbing".

For anyone actually affected by Robinhood, I think leaving 1-star rating it is absolutely just.

However, mobbing, to me, is when the random internet gets out its pitchforks and finds something to dogpile on, even though they might not have been affected personally.

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

#120

Post by brink » Thu, Jan 28, 2021, 7:56 PM UTC

coliveira wrote: post #79

I think it is ridiculous that Robinhood took the matters in their own hands to halt trading on GME. If anyone had to do this was the SEC. It is just outrageous.

The Parler incident sent a message across the tech industry that this kind of behavior is acceptable.

Whether you liked Parler or not, the lynching of Parler was ultimately a loss for everyone for the precedent that it set.