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I mean I get this it's a totally rational explanation of how all the machinery works. But why did Robinhood start liquidating peoples' shares at a loss (to the
by dcow 6y ago
I mean I get this it's a totally rational explanation of how all the machinery works.
But why did Robinhood start liquidating peoples' shares at a loss (to the holders)? That is literally stealing from the poor to cover their own ass. The bank doesn't sell my house if the housing market gets volatile. What give any broker the authority to execute transactions on my behalf when they're under pressure because of a poorly constructed business strategy?
- NovemberWhiskey 6y agoThat would be the margin agreement that you agreed to when you opened your account. https://cdn.robinhood.com/assets/robinhood/legal/RHS%20Margin%20Disclosure%20Statement.pdf https://cdn.robinhood.com/assets/robinhood/legal/RHS%20Margi...
- dcow 6y agoI don’t have a margin account (or any account anymore on RH) and they did this on cash accounts too.