If it was decided that most people could only sell stock, not buy it - who exactly is buying the stock?
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An Update on Market Volatility
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Re: An Update on Market Volatility
#12Too little too late as far as brand reputation. Feels like #DeleteUber on steroids.
Mark my words - Robinhood is going to be fine and it will have negligible impact. They have a strong product and better than anyone else in the market as a mobile app.
Re: An Update on Market Volatility
#13This was an awful PR response. I actually buy the reasoning behind it - but putting out a corporate speak like this instead of trying to emotionally relate to upset users? Smh
"We are deeply grateful to our users" is about to get memed to the moon.
Re: An Update on Market Volatility
#14If it was decided that most people could only sell stock, not buy it - who exactly is buying the stock?
Hedge funds and other big players of course
Re: An Update on Market Volatility
#15If it was decided that most people could only sell stock, not buy it - who exactly is buying the stock?
The ones who shorted
Re: An Update on Market Volatility
#16Nice try RobinHood. But we all know you are just in bed with the hedge funds that you sell order flow and trading data to.
Re: An Update on Market Volatility
#17If it was decided that most people could only sell stock, not buy it - who exactly is buying the stock?
Not all brokerages have banned buying so those who are buying are using a different brokerage. A lot of Robinhood users are now moving to other discount brokers like Webull.
Re: An Update on Market Volatility
#18We're in a bubble that's being used instrumentally in a game of chicken between average joe with RH account and hedge funds on their short positions. There's more to gain from this because of the social aspect (social change and reform), but also more to lose (bubble bursting on the average citizen that has more to lose personally than a fund). I'm obviously not cheering for the funds here, but I do worry for people…
Only invest what you can afford to loose
Re: An Update on Market Volatility
#19For pointers to other vertices of this story graph, see https://news.ycombinator.com/item?id=25933543.
Re: An Update on Market Volatility
#20"To be clear, this was a risk-management decision, and was not made on the direction of the market makers we route to." Uh huh...
Citadel alone is 40% of robinhood's revenue