3 ms·

Yesterday was the largest upswing in market history and the entirety of RH missed out.

• majormajor 7y ago
  "Missed out" doesn't seem like the right phrase here. If you already owned the stock, you still held it, no? So people who were going to continue to sell off got lucky that they couldn't make that trade, and people who were going to buy got unlucky? Does anyone seriously expect compensation, or think that it's deserved, or is it group wishful thinking? How would it even work? Would they just take people's word for their supposed intent? Or are people wanting some sort of "here's a gift card" type deal? This is not to defend RobinHood - I've personally kept my money with well-established companies cause conservative, old, proven systems seem like a good thing for a product in this space - but shit happens, no? There will be more good days, and more bad days, in the market, it's a long-run game anyway, and it's pretty easy to vote with your wallet in this space.
  • cx4life 7y ago
    There could be folks holding leveraged Bear ETFs or similar after last week's downturn, who were waiting to see how the market moved Monday morning to decide whether to sell or hold. I could see those folks losing quite a bit of money due to the inability to sell off those types of positions after the market reversed course on Monday. I suspect you're right though, that it's mostly sour grapes concerning the opposite case - inability to buy as the market rallied.
  • manigandham 7y ago
    Only possible claims would be limit orders set before the outage that didn't execute but were in the price range.
    • jjeaff 7y ago
      And even then, limit orders are placed on a best effort basis. I'm sure their terms of service say as much. I have had limit orders not get placed before on otherwise functioning platforms.
  • yesiamyourdad 7y ago
    This is just like the late '90s, up to 9/11 when day trading was the rage. Now it's back in fashion, low-key. I had never heard of /r/wallstreetbets or Robin Hood (well, barely) until a couple weeks ago.
    • JumpCrisscross 7y ago
      > Now it's back in fashion, low-key There is an entire generation that has never traded through a crisis.
      • speedplane 7y ago
        > There is an entire generation that has never traded through a crisis. Given that most crises seem to occur roughly every 7-15 years, there will always be such a generation. A hypothesis: the reason why crises occur roughly 7-15 years is because that is approximately the length of society's collective memory concerning monetary issues.
• endorphone 7y ago
  The close of today is effectively the open yesterday, so everyone is back where they were. Of course the problem with the "compensate me" arguments is that a lot of people were going to make decisions that would have turned out poorly yesterday (indeed, the market is balanced and every transaction has a counterparty), though of course with the amazing clarity of hindsight few would recognize or admit that. So if they need to compensate for illusory lost trades, do some people have to pay them for losses they would have incurred? [I get that there are some complex options that can legitimately be all downside when trading isn't available, but that's a less common option]
  • ivalm 7y ago
    Lots of RH are gamblers with short term options. Today's implied volatility and time-value for those options is way lower.