3 ms·
Is there any investigation into Robinhood for banning purchases after its largest investor acquired Melvin's short position?
by sthnblllII 6y ago
Is there any investigation into Robinhood for banning purchases after its largest investor acquired Melvin's short position?
- stu2b50 6y agoProbably not, since they were complying the governments own clearing house deposit rules.
- 0_gravitas 6y agoso they said
- jjeaff 6y agoThere is a bit more to it than that. But it does appear to be above Robinhood's pay grade. The private clearing house raised the holding requirement for GME from the usual 2-3% to 100%, making it impossible for smaller brokerages to put up the necessary funds. These are funds that must be on deposit with the clearing house for all buys (not sales). I read somewhere that at once point, nearly half of all robinhood users had bought GME.