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“ Just got a tip that Citadel reloaded their shorts before they told Robinhood to stop trading $GME. If this is true, Ken Griffin and the Robinhood founders sh

by dannyw 6y ago

“ Just got a tip that Citadel reloaded their shorts before they told Robinhood to stop trading $GME. If this is true, Ken Griffin and the Robinhood founders should be in jail. This is class warfare.” https://mobile.twitter.com/justinkan/status/1354853920762253315 https://mobile.twitter.com/justinkan/status/1354853920762253...

na85 6y ago
It's troubling how blatant this is. They clearly have confidence that they will not suffer any adverse consequences, otherwise they'd have taken more steps to cover their tracks.
Triv888 6y ago
They should be in jail, after being stripped of all their assets.
bko 6y ago
What about this should be illegal? Holding naked shorts? Or telling Robinhood to do something?
- bcrosby95 6y ago
  I'm taking it with a huge grain of salt and doubt it happened. But... assumming it did... calling brokerage firms to stop buy orders from retail investors so you can drive down the price of stock? If that isn't illegal what the fuck is?
  - bko 6y ago
    You can "tell" anyone anything. Look, you're telling them right now they should open up trading for these stocks!
    - dahfizz 6y ago
      These HFT firms hold power over Robinhood - that's what TFA is about. This is actual market manipulation.
actuator 6y ago
This looks ugly but how do we trust the anonymous Redditor who is claiming to be Robinhood employee.
sceew 6y ago
This seems pretty speculative and a huge risk for Citadel as an institution. I think most of their profit is coming from volume as a market maker. They capture small dollars on the bid/ask spread. Will be interesting to see the fallout if the SEC digs in more. But I would take this with a grain of salt.
- dannyw 6y ago
  Citadel also runs an active hedge fund.
ta1234567890 6y ago
That is so messed up, and that’s unfortunately how the whole world works. People in power will never give it up willingly.
nceqs3 6y ago
If this is true than people will likely go to jail. The images of Ken Griffin being arrested outside his $230 million penthouse because of some redditors trolling will be quite the scene.

by dannyw 6y ago

na85 6y ago

It's troubling how blatant this is. They clearly have confidence that they will not suffer any adverse consequences, otherwise they'd have taken more steps to cover their tracks.

Triv888 6y ago

They should be in jail, after being stripped of all their assets.

bko 6y ago

What about this should be illegal? Holding naked shorts? Or telling Robinhood to do something?

bcrosby95 6y ago
I'm taking it with a huge grain of salt and doubt it happened. But... assumming it did... calling brokerage firms to stop buy orders from retail investors so you can drive down the price of stock? If that isn't illegal what the fuck is?
- bko 6y ago
  You can "tell" anyone anything. Look, you're telling them right now they should open up trading for these stocks!
  - dahfizz 6y ago
    These HFT firms hold power over Robinhood - that's what TFA is about. This is actual market manipulation.

actuator 6y ago

This looks ugly but how do we trust the anonymous Redditor who is claiming to be Robinhood employee.

sceew 6y ago

This seems pretty speculative and a huge risk for Citadel as an institution. I think most of their profit is coming from volume as a market maker. They capture small dollars on the bid/ask spread. Will be interesting to see the fallout if the SEC digs in more. But I would take this with a grain of salt.

dannyw 6y ago
Citadel also runs an active hedge fund.

ta1234567890 6y ago

That is so messed up, and that’s unfortunately how the whole world works. People in power will never give it up willingly.

nceqs3 6y ago

If this is true than people will likely go to jail. The images of Ken Griffin being arrested outside his $230 million penthouse because of some redditors trolling will be quite the scene.