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If it was decided that most people could only sell stock, not buy it - who exactly is buying the stock?
by oh_sigh 6y ago
If it was decided that most people could only sell stock, not buy it - who exactly is buying the stock?
- deleted 6y ago[deleted]
- rusl1 6y agoHedge funds and other big players of course
- idbehold 6y agoThe ones who shorted
- RyanShook 6y agoNot all brokerages have banned buying so those who are buying are using a different brokerage. A lot of Robinhood users are now moving to other discount brokers like Webull.
- DennisP 6y agoIt was blocked in Robinhood's UI, but on the back end the hedge funds could trade at will. And the hedge funds had to buy a lot of stock to cover their shorts, so it was handy to get the retail buyers out of the way.
- amluto 6y agoI would be rather surprised if there are serious hedge funds that buy stock using Robinhood’s backend.
- victorbojica 6y agoHow do you know this ?
- DennisP 6y agoI read a bunch of articles today and yesterday. Robinhood outsources their order execution to Citadel, which handles more than just Robinhood trades. Or actually, "outsources" is a misnomer because Citadel pays them for the orders, so they can make money front-running them. That's why Robinhood trades are "free" for their retail users. You don't pay a fee but you get a slightly worse price. Citadel also, fwiw, just loaned $2.5B to a fund with a lot of short exposure to GME.
- umanwizard 6y agoFidelity at least still allowed trading GME. I assume most brokers did.
- EpicEng 6y agoLots of big funds trading back and forth to depress the price it would seem. Look at the bid/ask volume. Looks like a ladder attack.