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Lol, it’s like saying the manager of the restaurant that took my favorite entree off the menu should be arrested. This is the main problem with Robinhood, it’s
by valuearb 6y ago
Lol, it’s like saying the manager of the restaurant that took my favorite entree off the menu should be arrested.
This is the main problem with Robinhood, it’s designed to attract a core audience of clueless children.
- colinmhayes 6y agoExcept it's nothing like that because it directly caused their users to lose hundreds of thousands of dollars of unrealized gains.
- valuearb 6y agoUnrealized gains don’t exist, and read their TOS, this was inevitable. Robinhood is just one of many brokers limiting their exposure to a highly volatile stock of little intrinsic value with temporary trading halts. You are lucky the NYSE hasn’t shut down BME trading for all of February. Yet.
- amscanne 6y agoGains from a hypothetical buy and subsequent sell that never happens? That’s way too big a stretch, and makes no sense.
- adrr 6y agoRH prevented users from closing positions and realizing gains?
- valuearb 6y agoRead up on what T+2 settlement period is. When you buy GME Robinhood is on hook for two days before it closes and has to post collateral with the clearinghouse (DTC) during that time. As BME volatility exploded the collateral demanded of Robinhood skyrocketed.
- kahrl 6y agoExcept it's not because the restaurant doesn't have to abide by federal trading law and SEC regulations?
- valuearb 6y agoWhich Robinhood is. Actually I would have loved to see Robinhood do nothing do when GME inevitably crashes back down below $10 it’s forced into bankruptcy holding the bag on so many non paying accounts.