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You really think stopping all buying and only allowing selling doesn't manipulate the price? I fully agree they were fighting to save their life. They can't ha
by nimos 6y ago
You really think stopping all buying and only allowing selling doesn't manipulate the price?
I fully agree they were fighting to save their life. They can't handle their customer trades they should shut down until they can.
Really they should have a system to only allow buying with settled funds. I'd be fine with that.
- valuearb 6y agoRobinhood would have no customers if it implemented that system. And Robinhoods actions affect on GMEs price was likely small. The investing world is far larger than Robinhood, and Citadels own statistics show retail investors have been net sellers of GME since Monday. And again, every time that GMEs price crashed, Robinhood’s collateral requirements increased. Why would they try to kill themselves? Saying they manipulated GME trading is like saying one pirhana quitting the school is manipulating the feeding frenzy.
- bordercases 6y agoWhat's so important with Robinhood making it out alive?
- valuearb 6y agoIf it doesn’t every Robinhood trader will have their account locked, and will only ever get paid a fraction of its value years from now. While that is more than fair for WSB traders who caused this mess, there are likely many hundreds of thousands of innocent customers who may have not bought one share in GME getting the same punishment.
- selestify 6y agoReally? You’re going to blame WSB rather than the hedge funds?
- cwkoss 6y agohaha, whenever I see sour grapes on this subject I wonder how red the author's portfolio is.
- valuearb 6y agoHedge funds didn’t bury Robinhood under 100,000 bad reviews. Both the shorts and longs have a vested interest in keeping Robinhood afloat, but the WSB doesn’t seem to realize that.
- nimos 6y agoThey are SIPC insured and every single regulation and capital requirement is designed so the broker fails first before any customer assets are at risk. Maybe some stuff in flight might have issues. It might create a liquidity crunch for some people but the idea that people would only get a fraction of their account is pretty much FUD.
- valuearb 6y agoBut the idea they could go months or years without getting access to the stocks in their account isn’t. And it’s small consolation to get all your GME shares back only when it’s trading back at $20.
- rzz3 6y ago> And Robinhoods actions affect on GMEs price was likely small. You clearly weren’t watching the order book the second this started. The effect was immediate and severe.