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Citadel is a hedge fund that owns Melvin Capital Management. Melvin is a $GME Short Seller that is predicted to loose BILLIONS due to people taking the free ma
by grecy 6y ago
Citadel is a hedge fund that owns Melvin Capital Management.
Melvin is a $GME Short Seller that is predicted to loose BILLIONS due to people taking the free market back.
Citadel owns the app Robinhood.
Robinhood banned the purchase of $GME shares, while selling was still allowed.
How in the world is that NOT market manipulation?
- jannes 6y agoDoes Citadel actually own Robinhood? I couldn't find any source on that.
- alistairSH 6y agoNo, Citadel is RH's largest customer. https://cdn.robinhood.com/assets/robinhood/legal/RHS%20SEC%20Rule%20606A%20and%20607%20Disclosure%20Report%20Q1%202020.pdf https://cdn.robinhood.com/assets/robinhood/legal/RHS%20SEC%2... Citadel also bailed out Melvin to the tune of $2.75bn. https://cointelegraph.com/news/financial-ties-between-robinhood-and-funds-shorting-gme-falls-under-scrutiny https://cointelegraph.com/news/financial-ties-between-robinh...
- deleted 6y ago[deleted]
- ArchD 6y agoI think Robinhood sends them the retail order flow. I don't know about ownership. The conflict of interest is the same.
- sgerenser 6y agoCitadel does not own Robinhood.
- jonp888 6y ago> Robinhood banned the purchase of $GME shares, while selling was still allowed They had no choice. They had run out of capital to execute the orders they were getting. They allowed people to unwind their existing positions, but not to create new ones. Considering trading was still going on elsewhere, not locking people into their current positions would have been worse.