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Someone remind me again how this is even legal? You can SELL but not BUY, thus automatically suppressing all stock values?!

• kart23 6y ago
  Its a private company providing a service for FREE. YOU ARE THE PRODUCT. Just like twitter, they are allowed to control what happens on their platform, and they make no guarantee about reliability or free trade.
  • darkwizard42 6y ago
    This is not even accurate in the smallest sense. This is a brokerage firm. It is heavily regulated by financial law. They are not "allowed to control what happens on their platform." in the sense of Twitter. They have a fiduciary responsibility to their clients and the reliability of their platform is actually part of their ability to operate as a brokerage. The service being free or not has NO impact on the rules they operate under as a brokerage.
    • hchz 6y ago
      Sure, it's regulated, but which regulation states they have a fiduciary duty to you? Given they are currently arguing in court they have no such duty, but only to act in their customers best interest, perhaps this isn't sufficiently clear to them.
    • kart23 6y ago
      https://cdn.robinhood.com/assets/robinhood/legal/Robinhood%20Customer%20Agreement.pdf https://cdn.robinhood.com/assets/robinhood/legal/Robinhood%2... Read section 16.
      • read_if_gay_ 6y ago
        It is surprising how few people are arguing the “private company can do what they want” angle here. I wonder how the balance will look next time big tech bans a bunch of conservatives.