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Taking this line of thinking a bit further, they may have been trying to get more money from investors, and if they haven't already, now these stories are out t
by aristophenes 7y ago
Taking this line of thinking a bit further, they may have been trying to get more money from investors, and if they haven't already, now these stories are out they might not be able to. So I wouldn't be surprised if Robinhood freezes all accounts over the next week, and the SIPC gets involved.
What SIPC does: https://www.sipc.org/for-investors/what-sipc-protects https://www.sipc.org/for-investors/what-sipc-protects
And thankfully Robinhood Financial LLC of Menlo Park CA is a member: https://www.sipc.org/list-of-members/R https://www.sipc.org/list-of-members/R
I would assume there is almost no one with over $500,000 using Robinhood, but if so, you better get your money out now.
- mrep 7y agoThey just raised 50 million dollars a week ago according to crunchbase [0] and I doubt they have blown through that already. [0]: https://www.crunchbase.com/funding_round/robinhood-series-e--6fdfff2a https://www.crunchbase.com/funding_round/robinhood-series-e-...
- dkural 7y agoIt takes only 50 customers like the guy above to loose their money to some ill-conceived put option.
- drspacemonkey 7y agoConsidering the posters of /r/wallstreetbets have a leader board going to see who can glitch the most leverage, it's well within the realm of possibility https://old.reddit.com/r/wallstreetbets/comments/drt5tr/guh_of_fame_2019/ https://old.reddit.com/r/wallstreetbets/comments/drt5tr/guh_...
- mafm 7y agoUnless I've missed something, it would only require 1 customer with a serious risk appetite.
- aristophenes 7y agoI believe the phrase is a high "Personal Risk Tolerance"