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Post by dmbdan41 on Jan 28, 2021 20:04:07 GMT -6
against retail brokers who froze accounts or forced selling/holding instead of buying. (All while brokers and Wall Street saw no restrictions in their ability to move about the market) Firms often restrict orders when a stock is trading in a disorderly fashion. It happens all the time. Suppose you put in a market order to buy 50 shares when the inside quote was $40 and four minutes later your ticket filled at $130/share. Then you would complain about that. I can guarantee you it's spelled out in the contract you signed with Robinhood. I have no idea why the media is acting like short squeezes are anything new. When you get a bunch of guys discussing the stock market on a sports message board it's a sure sign the market is overbought. You clearly know more about this than I do, so bear with my train of thought and afterward educate me a little bit. The way I'm understanding what happened today, retail traders (individuals using apps like Robinhood or trading through individual brokerage accounts like ETrade, etc.) were locked out of increasing their positions in targeted stocks, and forced to either hold or sell. But from my understanding, hedge funds, wall street brokers, and institutions with short positions had no such restrictions in place. This (again this is my understanding, but I may be off, and if so please correct me) forced the price of those targeted stocks down, in some cases like for GME it fell almost $300. Given that this was a short squeeze, did that not allow those shorters the chance to get out of their shorts at a much more advantageous position than had the stock not been limited? I feel like that is where the issue lies. Not in the short squeeze, not in the restriction of trading, but in the fact that the restrictions were not blanket restrictions, and *appeared* to be for the benefit of Wall Street over the individual trader. A side issue to all of this is *supposedly* one of Robinhood's partners, backers, data purchasers, I'm not sure the exact connection, was a company (Citadel) who had just invested 2.75b in Melvin Capital, who held one of the largest short positions in GME. cointelegraph.com/news/financial-ties-between-robinhood-and-funds-shorting-gme-falls-under-scrutinyOnce again, I admit to knowing nothing (Jon Snow) so connecting the dots on that may be nothing more than chasing conspiracies. It all just, if nothing else, SEEMS fishy from an outside perspective. |
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Post by Lurkin McGurkin on Jan 28, 2021 21:43:42 GMT -6
Since Robinhood is beholden to Citadel, it's a conflict of interest to restrict retail buyers movements.
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Post by Lurkin McGurkin on Feb 11, 2021 14:49:25 GMT -6
My buddies gamble with sports betting, but I've decided to go a different route. I downloaded Robinhood and am going to do a little investing. So who's got that sweet sweet insider information for me? This aged well. |
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Post by chirpchirpcards on Feb 11, 2021 20:06:42 GMT -6
My buddies gamble with sports betting, but I've decided to go a different route. I downloaded Robinhood and am going to do a little investing. So who's got that sweet sweet insider information for me? This aged well. Yeah I got out of Robinhood rather quickly after the GME shit went to task. Opened up a Schwab account with the money I'd made from my short time on Robinhood |
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Post by Lurkin McGurkin on Feb 12, 2021 9:42:33 GMT -6
It'll be interesting to see if Robinhood survives, although based on bids for pre-IPO shares on the secondary market have jumped substantially.
Not sure why that happened... I guess like they say, any publicity s good publicity.
Oddly enough, a friend of mine said she opened an account at Robinhood about 3 years ago, and they gave her 1 free stock that she held onto. That stock was Gamestop.
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Post by JacksonStreetElite on May 2, 2021 22:23:31 GMT -6
My buddies gamble with sports betting, but I've decided to go a different route. I downloaded Robinhood and am going to do a little investing. So who's got that sweet sweet insider information for me? If you don’t know what you’re doing and don’t have a high risk tolerance you should be looking at index funds and ETFs. If you do have a high risk tolerance look at cryptocurrency. I dont have the first clue how all that works but the returns are astounding. I had a buddy try to convince me to buy bitcoin like 10 years ago. He now owns land on the pacific coast of Chile while I am commuting like a chump. Be prepared to lose anything you put in crypto. If you had bought Ether the day I posted this you would have a 224% return today. |
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Post by Lurkin McGurkin on May 3, 2021 6:23:24 GMT -6
I occasionally work with a guy who mined bitcoin when it was under $5 a coin. He got out when it hit 600, and made a huge profit.
He would have had over $30 million today. But who knew crypto would do this?
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