Social media regulation. First you get the far left to hate you then the far right, and now the ones who matter...the investor class.
why is robinhood taking so much heat over all the other exchanges that are doing the same thing? Also, there is no way all of these brokerages reached this same conclusion by themselves. Obviously some regulatory agency is twisting their arm. Probably Yellen
Its not a panic sell. Its a rule change that guarantees a loss. GME might hold the line, but the rest are blown. Maybe Europe and Asia will join but Americans can't find a timely manner to get back into position.
I thought the bad thing late last night was seeing options being suspended on RH for GME/AMC - and again I can understand them not wanting more risk/naked options/margin, but to block existing contracts/shares and send some garbage email/tweet etc about the danger of investing is bullshit. If they want to hold the trader's hand and block **** - then why don't they refund the money people lost when they were selectively deciding what positions could be traded. Lol @ a refund, but seriously, I feel bad for anyone who got caught up in this trash. I got lucky on sndl w/ moving the contracts at open since apparently that was then added to the list causing RH traders to dump their shares.
Because of their mantra. You can't have the name robinhood but you're protecting the fat cats. People hate hypocrisy
I assume RH is taking all the flack because I saw somewhere that 80% or something RH accounts own GME shares. I think they were also the first to stop the purchase of shares for these meme stonks. I don't know if that percentage is accurate, but that is crazy to think about. I also don't know where that number came from since Robintrack was shut down a while ago.
The hedge funds and even Citron all got blown out of their positions a few days ago. I would find it hard to believe any larger institution is still holding GME short. They've already lost out on this trade and have moved on. https://www.reuters.com/article/us-...sed-gamestop-position-spokesman-idUSKBN29X0EN
It looks like I can buy AMC and SNDL on fidelity, well at least I get to the point of submitting. RH from what I see, completely deleted them from their search LOL
They are taking the heat because most RH users are fairly young and utilize Twitter and Reddit to express their very public opinion. This episode will be forgotten by all in a month.
look at all the institutions coming to the rescue of the hedge funds. I dont know how, but they will get their money back.
Its obvious. Robinhood was about to go public. They were about to make a crap ton of money. It was thought even Robinhood wouldn't bend to the institutions. As for the other exchanges, its no surprise. Robinhood is nothing but a casino. As long as the natives are robbing from each other, its fair game. But the moment you start taking money from the casino, game over. They kick you out. Unfortunately many people didnt realize Citadel was the owner of the casino. But the game is not over. People are pissed. They are now going to start their own casino on something like DeFi and beat the institutions by attrition.
BTW it's not like all of Wall Street is getting punished here either. BlackRock owned 9.2m GME shares at the end of December, and assuming they still hold those now (we'll find out in a few days when they file for January), that's a $3 billion gain. For the world's largest asset manager..... This whole taking on the elites is silly .... it's just another group of elites trying to gain power from different group of elites. Wall Street ain't losing.....
