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> Robinhood just didn’t have the capital to clear trades of super volatile stocks. This was not their stated reason for shutting down the trades. What is your
by cwhiz 6y ago
> Robinhood just didn’t have the capital to clear trades of super volatile stocks.
This was not their stated reason for shutting down the trades. What is your source for this claim?
- franklampard 6y agoMelvin capital
- adrr 6y agoIt’s in their blog. https://blog.robinhood.com/news/2021/1/28/an-update-on-market-volatility https://blog.robinhood.com/news/2021/1/28/an-update-on-marke...
- cwhiz 6y agoThat is not a source for what OP is saying has happened.
- esoterica 6y ago> As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today.
- Miner49er 6y agoIt's not, they don't give any reasons in that blog post. They vaguely hint at things that could be the reason, but they never actually say those are the reason. This is either shady or horrible PR.