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I'm talking about the past week events of a specific group of stocks, and that they were unpredictable for everyone. It was unpredictable for WSB, for Robinhoo
by libertine 6y ago
I'm talking about the past week events of a specific group of stocks, and that they were unpredictable for everyone.
It was unpredictable for WSB, for Robinhood and other brokers that paused transactions, for hedge funds, for the media, for everyone. Robinhood didn't know they would need to round up 2 billion + 3 billion USD, which according to the CEO he was notified of that capital requirement at a 3AM call (could be bullshit, but it was what he said).
If Robinhood predicted any of this, they would have raised that cash sooner and save themselves a PR nightmare.
You're the one that seems to not give the due credit to the whole thing - not credit in a moral/ethical sense, but in the achievement of an unpredictable set of escalating events.
To be clear, I didn't participate in any of these, neither I think the decision of anyone that joined it for the "lulz" is a smart decision. But still, I need to acknowledge all the chain of events was impressive.
The end isn't impressive, everyone knew how this was going to end.