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Not to don the tinfoil hat, but the simplest answer is that Robinhood can't afford to cover the consequences of a fire sale, so they take the app down and blame
by zelias 7y ago
Not to don the tinfoil hat, but the simplest answer is that Robinhood can't afford to cover the consequences of a fire sale, so they take the app down and blame technical difficulties.
I have no faith that this company is operating in good faith.
- dehrmann 7y ago> Robinhood can't afford to cover the consequences of a fire sale They make more money when trading volume is high. What they can't afford is losing customers to either competitors or customers realizing day trading is a bad idea.
- IAmEveryone 7y agoIn what universe is such a theory of vast conspiracy simpler than their servers being overloaded on a busy day? When people sell stocks on RH (or anywhere else) it’s not the broker paying the sales rate. So you’re alleging something like RH having fraudulently sold customers’ stock before? And the market was moving the other way when RH also shut down last week. This would be the only broker in history that had its system set up in a way where they suffer with any trade.