- Moderator
- #151
Martha Stewart went to jail for less than the crimes being committed here
Did you invest in $GME or $AMC?
Martha Stewart went to jail for less than the crimes being committed here
There needs to be a burnt offering made to rectify the terrible things done. Wickerman style.
Just build a new garage
I will say this, I don't have Robinhood I have Stash and they restricted the buy as well. Which doesn't absolve Robinhood, in fact it indicates the corruption is deeper. The fact that they can shut multiple venues down because they don't want their game interrupted.
They live in a different world than the rest of us. Thankfully, every religion will find a good way to punish them. I hope they all end up as a shít eating insect in their next lives.I will say this, I don't have Robinhood I have Stash and they restricted the buy as well. Which doesn't absolve Robinhood, in fact it indicates the corruption is deeper. The fact that they can shut multiple venues down because they don't want their game interrupted.
Before everyone goes and gets their pitchforks, and I assure you I am just as mad as many of you and have today’s scars to prove it, as more information comes out it is more clear that many of the trading house apps, like Robinhood and IB, had no cash to settle their trades with the brokerage house. They can brand it as protecting the consumer, but it was a move to preserve their platform and not miss a capital requirement. Now, why they are allowed to do that is a valid question, but that’s the most likely reason.
The proper solution: restrict the Reddit stock purchases to 100% cash trades, no margin. What they did: stop buying for all, but selling was ok to help relieve the pressure on Robinhood.
Moral of the story is that while Robinhood may have had no choice, they are still a snitch and preserved itself over its customers with 0 transparency and shady tactics, and are now rebranding it as a benefit for its customers, while the customers were being hung out to dry. Let’s see how many trades get made tomorrow. If I were the Reddit Bros, I would exclusively buy on Robinhood with maximum margin and bury it.
The proper solution: restrict the Reddit stock purchases to 100% cash trades, no margin. What they did: stop buying for all, but selling was ok to help relieve the pressure on Robinhood.
Moral of the story is that while Robinhood may have had no choice, they are still a snitch and preserved itself over its customers with 0 transparency and shady tactics, and are now rebranding it as a benefit for its customers, while the customers were being hung out to dry. Let’s see how many trades get made tomorrow. If I were the Reddit Bros, I would exclusively buy on Robinhood with maximum margin and bury it.
Class-action lawsuit filed against Robinhood for restricting trading
The stock trading app Robinhood was hit with a class-action lawsuit Thursday almost immediately after restricting the trading of stocks popularized by a Reddit forum.The suit, filed in the Southern…
thehill.com
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Talk about not being in the loop, I didn’t even know about this until today.
Then asked my kids and they knew about it Monday just didn’t think to tell me.
Then asked my kids and they knew about it Monday just didn’t think to tell me.
deuce
Grenade!
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If we're being honest, every aspect of our society can be manipulated easily.
I’m right there with you. AMC and NOK look like there’s still time to hop on. I like these stocks a lot!
For everyone about to freak out, I’m putting $20 tops into each stock. My 401k is still in index funds and I’m not dumping my whole paycheck on this ride to the moon.
This is all absolute truth.
Please don’t take offense if you fit the age profile, because none is intended and I am sure most THPers are within the age range. I have seen a lot of things come to affect the markets during the thirty years that I have traded equities. The entire premise of being able to trade based on technicals or chart reading is that emotions govern the trading and will bear out patterns in the charts.
The robotic trading had an impact on traditional chart reading, because machines don’t have emotions. Then along came Robinhood. Robinhood was a disrupted, letting traders into the market who otherwise would not have the capital to really trade efffectively. Robinhood forced other online brokers to reduce and then eliminate transactional fees.
Robinhood, along with social media, opened the door for masses of Millenials to become traders. I often have wondered if Robinhood would get too cute for its own good and leave itself without the capital to settle trades when an anomaly occurred, such as we have witnessed with with GME and a couple of other symbols over the past couple of weeks. Masses and masses of small traders can move markets and did here. By allowing margin trading on such a large quantity of smaller dollar accounts held by traders with no fear to ride out a move that made no sense, Robinhood set itself up for disaster.
this is going to be very interesting to watch play out.
The robotic trading had an impact on traditional chart reading, because machines don’t have emotions. Then along came Robinhood. Robinhood was a disrupted, letting traders into the market who otherwise would not have the capital to really trade efffectively. Robinhood forced other online brokers to reduce and then eliminate transactional fees.
Robinhood, along with social media, opened the door for masses of Millenials to become traders. I often have wondered if Robinhood would get too cute for its own good and leave itself without the capital to settle trades when an anomaly occurred, such as we have witnessed with with GME and a couple of other symbols over the past couple of weeks. Masses and masses of small traders can move markets and did here. By allowing margin trading on such a large quantity of smaller dollar accounts held by traders with no fear to ride out a move that made no sense, Robinhood set itself up for disaster.
this is going to be very interesting to watch play out.
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Guy In Lyon
Active member
It's a concerted effort by a large group of people to run up the price of a stock, for whatever reason, and that's manipulation.
The big difference with this whole GameStop thing is that it's not a concerted effort by one person, or a small group of people (a hedge fund for example), but it's still manipulation.
I rode the Reddit dogecoin wave yesterday to a nice return, got out of that crap around midnight though, don't trust that it won't fall back below a penny haha
Why, because it’s a meme of a meme being pumped by a meme?
Pretty crazy that a coin created as a joke has a multi-billion dollar market size
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Hedge Funds are shaking in there shoes after this, what happening with these stocks could change the game on Wall Street. Hedge Funds manipulate the markets all the time. The Hedge funds are all pissed because they are on the wrong side of it. If SEC's really cares they need to add regulations to the market. The average hold time of a stock is 40 seconds, this is not investing. The little guy stuck to the man on Game Stop and the big swinging dicks are Wall Street are pissed and scared. The craziest thing abut this whole story that retail platforms restricted the buying of these stocks. I heard Steven Schwartzman founder of Blackstone called Robin Hood and told them to restrict buying Game stop on the platform. The big boys are changing rules.
This is very interesting interview with Mark Cuban on Squwak Box yester day about this:
This is very interesting interview with Mark Cuban on Squwak Box yester day about this:
- Moderator
- #172
I made a Reddit account. It’s a scary place and I don’t understand most of what I saw. This is bonkers!
RIP to your brain.