Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
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Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#2It's the same with Trading212 in the UK
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#3If they were just blocking margin trading or trades with unlimited risk that would be one thing. But this smacks of either paternalism or trying to manipulate the market. I hope they lose a lot of customers (or product depending on your POV).
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#4How is this not market manipulation?
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#5Yep, as of last night RH had also delisted 1/29 options for GME. 2/6 options are still available, which maybe points to RH hoping/thinking this all unwinds in the next few days.
Sign me up for the class action...
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#6Wow. First the Discord ban and then this - clearly the billionaire hedge fund managers have been busy pulling strings overnight.
Limiting it so you can't buy, you can only sell... Very clearly helping the hedge funds here.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#7Interactive Brokers now blocking purchase call and put options (even to institutional investors!) on $GME, you can only close a position.
On the other side, Robinhood is asking for account to be funded with cash to execute the calls at expiration, or else they will liquidate your position :|
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#8Not a fan of the Reddit wsb movement but not sure this is a justified move by Robinhood. You gotta let things play out by the rules of the game
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#9This sort of stuff will put people more and more on edge, there is the deplatforming going on, people asserted their power financially, and now getting that removed too, the powers that rule USA don't realize that soon the only tool left to common people is violence?
Even more with some irresponsible newspapers blaming the whole thing on GamerGate and Alt-Right, effectively pushing away people that previously could be on their side.
Re: Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop
#10"Free marketeers declare markets a little too free for their tastes"
I've been really enjoying watching this whole thing pan out but you had to know that the 'professional capitalists' who brought us the economic crisis in 2009 would close ranks and appeal to the SEC to save them from the vicious retail investors. Robin Hood doesn't want to be banished to the proverbial wastelands because their customers are more clever than some hedge fund operators.