3 ms·
Your speculation and saying “a lot of misinformation out there” doesn’t help. Allowing traders to only sell, and blocking buying is wrong. Who is allowed to bu
by calmworm 6y ago
Your speculation and saying “a lot of misinformation out there” doesn’t help.
Allowing traders to only sell, and blocking buying is wrong. Who is allowed to buy at that point? Very few retail traders, but every major player who has an upside down stake still can. The price was then tamped down during the lock out so hedges and old money are able to minimize their loses. Anyone pretending this didn’t happen is delusional. RH enabled it.
RH lost a lot of their customers. Possibly millions of them by the time this is over.
To be fair though, it wasn’t just RH and GME either though. Multiple brokers locked out multiple symbols.
- fountainofage 6y agoThey will likely lose a lot of their users. The users were never the customers - not even the gold ones.
- roywiggins 6y agoWhich broker do they go to instead? The big competitors at least temporarily halted GME buying today also.
- fountainofage 6y agoOff the top of my head I recall etrade, fidelity, schwab, and TD ameritrade allowed people to buy GME. I understand being able to buy on margin has been restricted almost everywhere, though.
- roywiggins 6y agoIdk, this seems to indicate that E-Trade turned off buying entirely for a bit. https://www.theverge.com/2021/1/28/22254863/etrade-gamestop-amc-stock-reddit-wallstreetbets-robinhood https://www.theverge.com/2021/1/28/22254863/etrade-gamestop-...