I'm sure Robinhood was pressured by many entities, but they should have stood their ground and defended their investors. THIS is certainly something the SEC should be investigating!

quote:

Originally posted by Aeteocles:
Fuck Robinhood. I don't even understand how they can do that.

A stolen, fraudulent election has consequences.

The elites making sure the the plebes can't get rich copying the actions of the elites is one of those consequences.

Is Robinhood public? Seems like a good short with all the resentment that will result from this move. A little investigation shows it is not a public company, but that they were expected to float an IPO this quarter. I guess they can kiss that idea goodbye! It appears they have been in and out of trouble with the SEC and other regulatory bodies since their inception. Bunch of crooks!

Pot calling the kettle black, the guys manipulating stocks with "reports on company shorts" are upset that other guys are manipulating stocks to shut out their shorts...

If anything SEC should place restrictions on companies buying or selling, selling short, puts from putting out ANY advertising, notice, on the web, PR. You want to short XYZ, then you can, just you can't give out a notice that you've decided to go short.

No different than insider trading rules should apply to shorting stocks by fund managers.

They got butt fucked on worldwide media, Duane!

quote:

Originally posted by Aeteocles:

quote:

Originally posted by TXJIM:
I would think some GameStop executives who were sitting on stock options with a previously underwater strike price may have used this episode to cash out.

Many publicly traded companies have rules regarding when their executives and other option holders can trade to prevent the appearance of illegal insider trading. Typically, this consists of a trading window of a few weeks after each quarterly shareholder meeting, plus disclosure requirements. Essentially, you've got to plan your trades way in advance.

Exactly. They probably can't trade.

Of course the media is calling the people buying stock “alt-right” and CNN is blaming Trump.

I didn’t know that AOC was an alt-right Trump supporter.

You can bet the SEC is all over this. It will not be pretty. Warren Buffett says:

Charlie and I have agreed on around 100 stocks over the years that we thought were shorts or promotions. Had we acted on them, we might have lost all of our money, every though we were right just about every time. A bubble plays on human nature. Nobody knows when it’s going to pop, or how high it will go before it pops.

KEEP THE POLITICS OUT please. This is an SEC matter not Congress.

Watching yesterday and today's action led me to observe that it's a battle between those who underestimated and mismanaged the risk vs those who didn't even bother to think about the risk.

I hope they both lose.

The folks who had RH forcibly sell their positions in GME probably purchased those shares on margin.

quote:

Originally posted by nhracecraft:
NO Legal Justification for that action...So F**king Wrong! Free Markets??? This is Major Bullshit! I predict class action lawsuit(s)!

Already been filed.

quote:

Originally posted by ElusivePeon:
The folks who had RH forcibly sell their positions in GME probably purchased those shares on margin.

They have been closing out and force selling others who were not on margin. I don't see how anyone would ever use RobinHood again after this.


https://twitter.com/themaxburn.../1354874931092348933

quote:

Originally posted by BamaJeepster:

quote:

Originally posted by ElusivePeon:
The folks who had RH forcibly sell their positions in GME probably purchased those shares on margin.

They have been closing out and force selling others who were not on margin. I don't see how anyone would ever use RobinHood again after this.


https://twitter.com/themaxburn.../1354874931092348933

I don't see how RH recovers from this. Something like > 50% of their users held GME in their portfolios.

quote:

Originally posted by nhracecraft:
I'm sure Robinhood was pressured by many entities, but they should have stood their ground and defended their investors. THIS is certainly something the SEC should be investigating!

Robinhood is owned (at least in part) by Citadel Capital, which is (surprise surprise), a hedge fund.

Robinhood makes their money selling trading data to hedge funds so that the hedge funds can make predictive models and use algorithms to make instantaneous automatic trades that fuck individual retail traders.

Remember, you pay no fees to use Robinhood. So, if you don't pay fees, you aren't the customer you are the product. Say it with me, "If you don't pay fees, you aren't the customer, you are the product."

So, Robinhood is just looking out for it's clients. Despicable and heads should roll.

Even if you don't use Robinhood, this nonsense affects the whole market. GME (and AMC, BB, NOK, NAKD, etc) price is being suppressed by removing millions of traders from the market. Half of all Robinhood traders have GME stock in their portfolio.

Wouldn't it be interesting if all of this shook out the bs going on between companies selling buy/sell data and hedge funds profiting from it

In a normal world you'd see the DOJ and SEC on some people in a second.

Most likely the reddit users will take the hit as the hedge fund managers give billions to politicians...

Accusations are out there saying that Citadel reloaded its short position before directing Robinhood to stop trading GME.

^^^Criminal Market Manipulation right there!

I don't see any legal grounds for making their customers close out non margin positions. Looks like I'll be closing my RH account.

I didn't participate in this nonsense, just having fun watching waiting to see who gets caught holding the bag. It's like really an interesting hot potato game.

Robinhood partially owned by Citadel Capital, Melvin capital was bailed out by Citadel Capital earlier this week to the tune of $2.8B. Screw these guys.

Robinhood was selling its order flow data. You can guess who was buying it.

https://www.institutionalinves...n-Doing-It-for-Years