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Robinhood is automatically initiating GME sell orders on users' behalf

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Re: Robinhood is automatically initiating GME sell orders on users' behalf

#221

Post by platz »

xibalba wrote: post #203
ummonk wrote: post #181

Earlier quoted context omitted.

That's not a counter point. The IB Chairman explicitly said they put in the restrictions to protect market makers rather than their customers: https://www.youtube.com/watch?v=7RH4XKP55fM

So, point blank, you believe these restrictions were implemented to protect hedge funds and financial elites? Do you not believe there could be simpler explanations to brokers halting buying of the meme-stonk tickers that are 1) explained by their own financial incentives and risks, and 2) not by a shadowy conspiracy of financial elites pulling levers behind the scenes?

The reason he gave in that video was because of margin ("the cust not being able to pay"), which doesn't explain not being able to buy with cash.

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#222

Post by akra »

ineedasername wrote: post #150

we placed it to mitigate the risk on your account Wow, that's pretty awful since liquidating the position may actually put the user at a net loss, which wouldn't avoid risk: It would actually "instantiate" the potential risk of having to sell the stock after falling below the purchase price. Why not give users the opportunity to provide more collateral for their margin?

Risk isn't money lost, its all about uncertainity of outcomes from a finance perspective. A realized loss isn't risky; since they've changed an uncertainty into a certainty (i.e. you will lose this much).

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#223

Post by dj_mc_merlin »

greenshackle2 wrote: post #84
eterm wrote: post #7

Browing the top of reddit right now is really reminiscent of /r/The_Donald, particularly the shift from a bunch of 'ironic' jokers to conspiracy theories and shouty chest beating and calls for upvotes. I'd treat anything like this with a huge pinch of salt.

Not just Reddit. It's here too. It's wild to see people being whipped into a frenzy in real time. I'm following the discussions a bit, lots of comments by people spreading conspiracy theories, comments asking for evidence are just downvoted, or met by the conspiracy theorist's favorite, "do your research", comments spreading disinformation like "citadel owns robinhood" with a tweet as the only source, people who have…

One of the most common techniques of making a class of people seem crazy is associating conspiracy theories with them. CIA has been doing it for nearly a century by now.

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#224

Post by mrh0057 »

runako wrote: post #132

Obviously, margin calls are legitimate. But Robin Hood obviously played an important role in the price direction that led to the margin calls. I honestly don't know how anyone could trust RH as a neutral party after this.

Most of the brokers where not allowing margin for buying GME since last week and Robinhood is one of them.

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#225

Post by Goronmon »

Railsify wrote: post #208
greenshackle2 wrote: post #84

Earlier quoted context omitted.

Not just Reddit. It's here too. It's wild to see people being whipped into a frenzy in real time. I'm following the discussions a bit, lots of comments by people spreading conspiracy theories, comments asking for evidence are just downvoted, or met by the conspiracy theorist's favorite, "do your research", comments spreading disinformation like "citadel owns robinhood" with a tweet as the only source, people who have…

Someone not wanting to explain what is in 50 news articles to new commenters does not make them a conspiracy theorist, why should they do your google searches for you?

Someone not wanting to explain what is in 50 news articles to new commenters does not make them a conspiracy theorist, why should they do your google searches for you?

Yes, this is definitely one of the cookie-cutter responses. Dubious claims of "so many sources" but they are just super busy and can't be bothered to link to a single one.

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#226

Post by djrogers »

almost_usual wrote: post #71
czechdeveloper wrote: post #37

Earlier quoted context omitted.

Doing this will already probably kill them, so they must be afraid of worse. Who would remmain using them after this?

> Who would remmain using them after this? Most users who don’t know anything about WSB probably

Over half of Robinhood account holders had a position in GME as of yesterday, you can’t tell me those people had done that without knowing about WSB.

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#227

Post by polka_haunts_us »

Railsify wrote: post #208
greenshackle2 wrote: post #84

Earlier quoted context omitted.

Not just Reddit. It's here too. It's wild to see people being whipped into a frenzy in real time. I'm following the discussions a bit, lots of comments by people spreading conspiracy theories, comments asking for evidence are just downvoted, or met by the conspiracy theorist's favorite, "do your research", comments spreading disinformation like "citadel owns robinhood" with a tweet as the only source, people who have…

Someone not wanting to explain what is in 50 news articles to new commenters does not make them a conspiracy theorist, why should they do your google searches for you?

If someone is saying "This morning Robinhood conspired with Citadel to halt trading", that is a claim. If I ask for source on the claim and they say "It's in the logs, go see for yourself?", my, and most other people on this sites assumption is "This person has no evidence of this claim, or any evidence they do have is eminently debunkable". Handwaving the claim away as "It's obvious" when to most people, "no it isn't obvious whatsoever", or in the worst case "It obviously is not", marks you at best as uninterested in having a real conversation, at worst a conspiracy theorist.

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#228

Post by anchpop »

dj_mc_merlin wrote: post #223
greenshackle2 wrote: post #84

Earlier quoted context omitted.

Not just Reddit. It's here too. It's wild to see people being whipped into a frenzy in real time. I'm following the discussions a bit, lots of comments by people spreading conspiracy theories, comments asking for evidence are just downvoted, or met by the conspiracy theorist's favorite, "do your research", comments spreading disinformation like "citadel owns robinhood" with a tweet as the only source, people who have…

One of the most common techniques of making a class of people seem crazy is associating conspiracy theories with them. CIA has been doing it for nearly a century by now.

Source?

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#229

Post by yCombLinks »

mrh0057 wrote: post #224
runako wrote: post #132

Obviously, margin calls are legitimate. But Robin Hood obviously played an important role in the price direction that led to the margin calls. I honestly don't know how anyone could trust RH as a neutral party after this.

Most of the brokers where not allowing margin for buying GME since last week and Robinhood is one of them.

Disallowing margin buying is one thing. Not letting you use our money to buy a volatile stock, that's fair game. But not letting you use your own money, that's a scam.

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#230

Post by Spooky23 »

runako wrote: post #132

Obviously, margin calls are legitimate. But Robin Hood obviously played an important role in the price direction that led to the margin calls. I honestly don't know how anyone could trust RH as a neutral party after this.

Who would accept GME as collateral for a loan?

RH is a pretty awful broker. Anyone who cares about such things pulled out a long time ago

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