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They stopped people with cleared credit from buying stock
by iso1631 6y ago
They stopped people with cleared credit from buying stock
- MuffinFlavored 6y agobecause they themselves were swamped with 10,000 other users who did not have cleared credit who were buying the stock
- milesdyson_phd 6y agoEvery single Robinhood user could have had $5M in cash in their accounts and they still would have had to suspend purchasing shares. Brokerages cannot use client funds for depository requirements. Every purchase transaction required Robinhood to cover 100% with their own cash until settlement.