221–230 of 547 posts
Earlier quoted context omitted.
Buying was halted. Held shares can still be sold, if you so chose. That’s what I’m seeing in RH when I look at the small amount of Blackberry (BB) shared I own.
If you sell it, someone gotta buy it. But buying on RH is blocked. They're just trying to crash the price.
I’m hoping RobinHood gets sued out of existence and many of these hedge funds burn. The industry’s response to this is stupid and classist: “we can’t have randos making money...” as irrational as the system is it is working as is.
Most of the other brokerages (Schwab, Etrade, and TD Ameritrade, but NOT Fidelity and Vanguard according to the reports I am getting) are participating. According to the rumor on Reddit https://www.reddit.com/r/ClassActionRobinHood/comments/l723k... the call came from the White House.
People are pointing out in the comments that some of the details don’t line up, like him being based in the wrong city and him overhearing conversations while WFH.
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?
I've been reading WSB since yesterday and while I understand the outrage about blocking trading. They started blocking trading with $GME trading in the $400's, and a slew of redditors on WSB, Discord & Telegram pushing penny stocks. It started out a crusade against the hedge fund shorting $GME and quickly turned into rallying dumb money to pump and dump penny stocks. Looking at the direction things were going it seem…
Most of the other brokerages (Schwab, Etrade, and TD Ameritrade, but NOT Fidelity and Vanguard according to the reports I am getting) are participating. According to the rumor on Reddit https://www.reddit.com/r/ClassActionRobinHood/comments/l723k... the call came from the White House.
Most of the other brokerages (Schwab, Etrade, and TD Ameritrade, but NOT Fidelity and Vanguard according to the reports I am getting) are participating. According to the rumor on Reddit https://www.reddit.com/r/ClassActionRobinHood/comments/l723k... the call came from the White House.
One of the good things I see coming out of Robinhood blocking trading, Twitter and Reddit booting problematic users, Parler getting vaporized, etc. is a sudden realization amongst people of just how easily major parts of their lives can be instantly turned off by intermediaries. My hope is that this will drive a reformist movement around digital rights (speech, commerce, etc.) As well as a movement from platforms to…
I don’t have much hope for this, mainly because being the owner of a platform is much more profitable than being one of many protocol end points. Look at git. It is hard to think of a more open protocol, and yet GitHub absolutely dominates and it is a big deal if they decide to cut off your repo.
A better alternative is for government to fund and operate critical infrastructure or at least heavily regulate it.
I don’t have to worry that I will get deplatformed from mail, because the USPS is there and they have strict legal requirements prohibiting them from deplatforming people. I don’t have to worry that I won’t be deplatformed from roads, because most roads are operated by the government, which is under strict legal precedents that they can’t deplatform me. It is similar with utilities such as electricity, water, gas which are privately operated but heavily regulated.
Some of the internet infrastructure is both becoming more vital as has economies of scale such that there is an inherent drive for consolidation. As such, I think it is becoming time that such things be regulated like utilities.
Serious question: Since RobinHood is a private company, does the "if you don't like it, you can build your own platform" argument apply here? Or does that only apply selectively when it benefits partisan politics? This is the natural evolution when censorship as we've recently seen is given a pass.