Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Robinhood Files S-1

blog.robinhood.com

Post reply on HN
Print view View original

11–20 of 56 posts

Re: Robinhood Files S-1

#11

Post by kasey_junk »

apparissus wrote: post #5
awb wrote: post #3

So disappointed with their performance during $GME. I’m sure a lot of people will make money in this IPO but I can’t support it.

The fact that they weathered that so unscathed gives me begrudging belief that their IPO will go well, at least short-term. I have heard so many apologists for Robinhood but never heard it addressed why they couldn't have implemented whatever measures of protection they "had to" in a stock-agnostic way.

Collateral obligations aren’t stock agnostic at the central clearing level.

Re: Robinhood Files S-1

#12

Post by jc713 »

ar_lan wrote: post #7

I am interested to know what percentage of their user base they lost after the past few months. I know I personally cancelled my account with Robinhood, but I don't know if I'm in the minority or not. I just don't see the point of them anymore. Once the other trading platforms started offering $0 transactions, I saw way less value in Robinhood - then, following that, the argument was "fractional shares", which many o…

I personally left to Schwab after all of the issues RH had with poor customer service and services going down all the time.

Re: Robinhood Files S-1

#13

Post by mandeepj »

missedthecue wrote: post #9
ar_lan wrote: post #7

I am interested to know what percentage of their user base they lost after the past few months. I know I personally cancelled my account with Robinhood, but I don't know if I'm in the minority or not. I just don't see the point of them anymore. Once the other trading platforms started offering $0 transactions, I saw way less value in Robinhood - then, following that, the argument was "fractional shares", which many o…

I don't think there is another broker with zero commission options trading is there? That seems like a big reason for a lot of people

Not sure about others but Ameritrade is charging $.65 per option trade and that's almost nothing - https://www.tdameritrade.com/pricing.page

Re: Robinhood Files S-1

#14

Post by hervature »

apparissus wrote: post #5
awb wrote: post #3

So disappointed with their performance during $GME. I’m sure a lot of people will make money in this IPO but I can’t support it.

The fact that they weathered that so unscathed gives me begrudging belief that their IPO will go well, at least short-term. I have heard so many apologists for Robinhood but never heard it addressed why they couldn't have implemented whatever measures of protection they "had to" in a stock-agnostic way.

The "stock-agnostic way" metric is volatility. GME experienced volatility never seen before. Thus measures never taken before are justified. Given your quotes around "had to" I suspect you don't believe Robinhood was essentially forced into these measures. If you're going to hate Robinhood, it should be because they created a gamified app that emboldened people to jump into the GME debacle and for creating a service that goes down in times of heavy trading, not because they had to take measures to reduce their risk profile.

Re: Robinhood Files S-1

#16

Post by chewmieser »

missedthecue wrote: post #9
ar_lan wrote: post #7

I am interested to know what percentage of their user base they lost after the past few months. I know I personally cancelled my account with Robinhood, but I don't know if I'm in the minority or not. I just don't see the point of them anymore. Once the other trading platforms started offering $0 transactions, I saw way less value in Robinhood - then, following that, the argument was "fractional shares", which many o…

I don't think there is another broker with zero commission options trading is there? That seems like a big reason for a lot of people

I think Fidelity does zero commission options trading.

Re: Robinhood Files S-1

#17

Post by PragmaticPulp »

ar_lan wrote: post #7

I am interested to know what percentage of their user base they lost after the past few months. I know I personally cancelled my account with Robinhood, but I don't know if I'm in the minority or not. I just don't see the point of them anymore. Once the other trading platforms started offering $0 transactions, I saw way less value in Robinhood - then, following that, the argument was "fractional shares", which many o…

I would guess they gained more users than they lost.

The outrage was real and obviously some users left, but at the end of the day most people will still use whatever platform is easiest and cheapest for them.

Re: Robinhood Files S-1

#18

Post by gshulegaard »

apparissus wrote: post #5
awb wrote: post #3

So disappointed with their performance during $GME. I’m sure a lot of people will make money in this IPO but I can’t support it.

The fact that they weathered that so unscathed gives me begrudging belief that their IPO will go well, at least short-term. I have heard so many apologists for Robinhood but never heard it addressed why they couldn't have implemented whatever measures of protection they "had to" in a stock-agnostic way.

I am not well versed in the financial services industry but this article seemed to offer at least a plausible explanation for why Robinhood (and other capital limited brokers) stopped buys on GME specifically:

https://stu2b50.dev/posts/why-robinhood-d3580b

I want to be upfront in that I can't verify the accuracy of this article, and I still look askance at Robinhood personally; however, it did pique my interest in keeping an eye out for further analyses of the incident as more details emerge. And it seems like there is plausibility to Robinhood's claims that they had to halt buys.

And...on the face of it, I am all for regulation that places risk management requirements on financial firms.

Re: Robinhood Files S-1

#19

Post by bingo_cannon »

chewmieser wrote: post #16
missedthecue wrote: post #9

Earlier quoted context omitted.

I don't think there is another broker with zero commission options trading is there? That seems like a big reason for a lot of people

I think Fidelity does zero commission options trading.

Fidelity has $0.65 per contract
Post reply on HN