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AIUI Robinhood has halted buying shares and options, but they haven't halted selling. If it was purely a halt on all trading I could see the logic, but only pr
by M2Ys4U 6y ago
AIUI Robinhood has halted buying shares and options, but they haven't halted selling.
If it was purely a halt on all trading I could see the logic, but only preventing people from buying seems fishy to me.
(I'm not involved one way or the other; I don't trade shares at all)
- tylerhou 6y agoSelling is important because it lets people close out their positions as they need to. If Robinhood halted all trading they would have a huge mess à la the complete shutdown back in March. Buying exposes them to additional risk in the form of potential future lawsuits.
- nrmitchi 6y agoIf they halted selling you know as well as I do that there would have been an immediate "Robinhood is holding my money hostage! They didn't let me sell and the price dropped, so they are responsible for my losses" lawsuit. Which, lets be honest, would have more merit than a "I missed out potential gains" lawsuit.
- betterunix2 6y agoActually they halted the opening of new positions. If you have a short position, you can still buy to close.