941–950 of 1001 posts
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Yeah I don't understand why so many people are defending a ponzi scheme. Its in at least 90% of Robinhood users interest to not be able to buy GME right now.
When are all the noble protectors going to turn their attention to convenience stores and gas stations? They shamelessly sell lottery tickets every single day to unsuspecting bag holders. It's in at least 99% of their interest not to be able to buy those tickets.
This 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 b…
Some people are complaining to me that this comment is an implicit call to violence. It's not so hard to see why they might be reading it that way. Please don't post like that to HN. Instead, either post comments that are unambiguously within the site guidelines to begin with, or be careful to disambiguate your intent. Otherwise we end up in flamewar hell or something even worse than flamewar hell. https://news.ycomb…
(dang: Thank you for all your moderation. This is a meta-comment, not a complaint.)
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I don't think this was Robinhood's choice. Robinhood doesn't actually execute any trades. They sell user's trade orders to Citadel, a trade executor. Citadel then buys the shares on the market, and sells them to Robinhood for a slight markup. It's how Robinhood offers trades for $0 fees. You pay pennies more per share, but don't have to spend $5 per trade. Citadel, and other trade executors, are refusing to buy share…
I'm just not really sure I understand the narratives being thrown around right now, and I'd like to think I understand the economy somewhat Melvin Capital closed out their short position yesterday with a large loss - and Citadel helped cover that loss. As far as I know, Citadel and Melvin Capital no longer are holding any short positions in Gamestop. So what do they have to gain, by your narrative, from suppressing t…
This is something many people are claiming is false. As far as I can find, Melvin have not issues any formal statement on the matter - this claim is purely based on a CNBC "source".
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I know there's a lot of conspiracy around wall st screwing over the little guy here, I suspect the truth is more mundane. When the music stops a LOT of people will be left holding the bag and will lose a great deal of money. There are people putting their parents life savings into GME at $300/share. It's insane, and nothing but pure gambling at this point. I suspect regulators are extremely concerned at the risk peop…
While you're right that eventually the music will stop, this thread is about direct intervention. There isn't a way I see that the intervention protects retail at all. By its nature it ensured a full crash and retail didn't see it coming.
Can someone help me understand Robinhood's POV? This just seems so outrageous that there must be some sane rationale that I'm not seeing. Why do Robinhood, Reddit, Discord, etc feel like they have to respond to this? Whether the investments being made are responsible or not, it doesn't seem like it should be their place to intervene. If the hedge funds over-shorted GME and WSB recognized that and traded against that…
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.
Can someone help me understand Robinhood's POV? This just seems so outrageous that there must be some sane rationale that I'm not seeing. Why do Robinhood, Reddit, Discord, etc feel like they have to respond to this? Whether the investments being made are responsible or not, it doesn't seem like it should be their place to intervene. If the hedge funds over-shorted GME and WSB recognized that and traded against that…
If you consume a free product you aren't the customer, the person who pays the provider money is.
Meanwhile WSB is adding over 1,000 subscribers per minute.
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I don't think this was Robinhood's choice. Robinhood doesn't actually execute any trades. They sell user's trade orders to Citadel, a trade executor. Citadel then buys the shares on the market, and sells them to Robinhood for a slight markup. It's how Robinhood offers trades for $0 fees. You pay pennies more per share, but don't have to spend $5 per trade. Citadel, and other trade executors, are refusing to buy share…
Rumor mill says that the White House and Sequoia called RH to force their hand. Honestly, I wouldn't expect anything less. I say this because 2% drawdown of the stock market didn't happen for zero reason. It happened because these fools are leveraged up to their ass (metaphor) and the bet cost them severely. And it's cheaper to take the bad PR while salvaging your fuck up. These people act in a different set of rules…
Earlier quoted context omitted.
I don't think this was Robinhood's choice. Robinhood doesn't actually execute any trades. They sell user's trade orders to Citadel, a trade executor. Citadel then buys the shares on the market, and sells them to Robinhood for a slight markup. It's how Robinhood offers trades for $0 fees. You pay pennies more per share, but don't have to spend $5 per trade. Citadel, and other trade executors, are refusing to buy share…
Rumor mill says that the White House and Sequoia called RH to force their hand. Honestly, I wouldn't expect anything less. I say this because 2% drawdown of the stock market didn't happen for zero reason. It happened because these fools are leveraged up to their ass (metaphor) and the bet cost them severely. And it's cheaper to take the bad PR while salvaging your fuck up. These people act in a different set of rules…
Gambling isn't even legal in most states. Good luck arguing that.
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When markets move rapidly, and in GME’s case we are T-1 from opex, brokerages cannot manage risks effectively. They could actually be exposed quite a bit. With something like GME (probably an 8 sigma event) it could actually put Robinhood out of business.
It seems to me it's because "market makers" are a thing. Market making activities create billions in profits. But we are seeing the flaw in the market making algorithms. Do we need market makers to let us always take a position in every single option when no real market for that option exists? I would argue no. It's completely artificial and they profit from it. If companies want to be market makers and profit from e…