Springfield Posted January 28, 2021 Author Share Posted January 28, 2021 4 minutes ago, RansomthePasserby said: Melvin was bailed out by Citadel, Citadel owns Robinhood So I’ve heard. I wonder if they’ll ever open up trading on GME et all again. I think they’re going to try and let Melvin recoup their shorts before they open it up. If they open it up at all I’m going all in on GME cause **** Melvin and **** Robinhood. 1 Link to comment Share on other sites More sharing options...
RansomthePasserby Posted January 28, 2021 Share Posted January 28, 2021 1 minute ago, Springfield said: So I’ve heard. I wonder if they’ll ever open up trading on GME et all again. I think they’re going to try and let Melvin recoup their shorts before they open it up. If they open it up at all I’m going all in on GME cause **** Melvin and **** Robinhood. I wouldn’t be surprised if a bunch of people do the same 1 Link to comment Share on other sites More sharing options...
Springfield Posted January 28, 2021 Author Share Posted January 28, 2021 Just now, RansomthePasserby said: I wouldn’t be surprised if a bunch of people do the same i literally have one share I got yesterday. I was happy making money off of BB and AMC. Now here I am wanting to hate buy a stock because of what some two bit trading platform did. Link to comment Share on other sites More sharing options...
Llevron Posted January 28, 2021 Share Posted January 28, 2021 Just now, Springfield said: i literally have one share I got yesterday. I was happy making money off of BB and AMC. Now here I am wanting to hate buy a stock because of what some two bit trading platform did. I feel like this is whats going to happen if people get the chance. Cats dont like being told they cant do something when they know good and damn well there isnt a good reason for it. Link to comment Share on other sites More sharing options...
ClaytoAli Posted January 28, 2021 Share Posted January 28, 2021 (edited) Who would have thought that Reddit and Twitter would become the new regulatory arm of the public instead of the federal gov. GameStop mania has gotten inside the head of Wall Street Brian Sozzi ·Editor-at-Large Thu, January 28, 2021, 12:52 PM The average investor is speaking loudly right now in pushing heavily shorted stocks such as GameStop, BlackBerry, Koss Corporation and many others to dizzying new heights. Their collective message: Wall Street better pay attention to us or else. Well, Wall Street is starting to listen. But, it’s unclear how the mindsets of professional traders and strategists will be changed by the volatility spike and loss of profits moving forward. “I will say it’s not as if it doesn’t influence your thinking at all,” said J.P. Morgan Asset Management global strategist Benjamin Mandel https://finance.yahoo.com/news/game-stop-mania-has-gotten-inside-the-head-of-wall-street-175211384.html Edited January 28, 2021 by ClaytoAli 1 Link to comment Share on other sites More sharing options...
AlvinWaltonIsMyBoy Posted January 28, 2021 Share Posted January 28, 2021 2 minutes ago, ClaytoAli said: Who would have thought that Reddit and Twitter would become the new regulatory arm of the public instead of the federal gov. 5 Link to comment Share on other sites More sharing options...
ExoDus84 Posted January 28, 2021 Share Posted January 28, 2021 Robinhood is lucky they haven't had their IPO yet. Reddit would group short them into the ground. The irony in that would be glorious. 1 Link to comment Share on other sites More sharing options...
tshile Posted January 28, 2021 Share Posted January 28, 2021 Whatever you think the fallout to robinhood is (barring legal/sec fines or whatever), I think it’s likely they weighed that against protecting their parent company interests, and their parent company interests were far more important. hell they could take the same platform and rebrand it down the road and most people wouldn’t even know. but I’m guessing the billions lost and client relation nightmare of the parent company far outweighed their cheap access to stocks for us normal people profit model. Link to comment Share on other sites More sharing options...
max21 Posted January 28, 2021 Share Posted January 28, 2021 What’s going on right now is ****in nuts, Robinhood is going to take a huge hit after all this is said and done. Robinhood is (was) a good app to use also, one of the easier interfaces to use. Link to comment Share on other sites More sharing options...
Springfield Posted January 28, 2021 Author Share Posted January 28, 2021 18 minutes ago, max21 said: What’s going on right now is ****in nuts, Robinhood is going to take a huge hit after all this is said and done. Robinhood is (was) a good app to use also, one of the easier interfaces to use. Yes. After I (hopefully) **** them in their faces, I’m going to pull all my money out of RH and take it somewhere else. 2 Link to comment Share on other sites More sharing options...
No Excuses Posted January 28, 2021 Share Posted January 28, 2021 1 hour ago, tshile said: Whatever you think the fallout to robinhood is (barring legal/sec fines or whatever), I think it’s likely they weighed that against protecting their parent company interests, and their parent company interests were far more important. hell they could take the same platform and rebrand it down the road and most people wouldn’t even know. but I’m guessing the billions lost and client relation nightmare of the parent company far outweighed their cheap access to stocks for us normal people profit model. Even any potential SEC fine will probably be a slap on the wrist. The finance sector sucks ass and does shady crap because none of them are under the threat of serious prison time. 1 1 Link to comment Share on other sites More sharing options...
The Sisko Posted January 28, 2021 Share Posted January 28, 2021 2 hours ago, ClaytoAli said: Who would have thought that Reddit and Twitter would become the new regulatory arm of the public instead of the federal gov. GameStop mania has gotten inside the head of Wall Street The average investor is speaking loudly right now in pushing heavily shorted stocks such as GameStop, BlackBerry, Koss Corporation and many others to dizzying new heights. Their collective message: Wall Street better pay attention to us or else. Well, Wall Street is starting to listen. But, it’s unclear how the mindsets of professional traders and strategists will be changed by the volatility spike and loss of profits moving forward. “I will say it’s not as if it doesn’t influence your thinking at all,” said J.P. Morgan Asset Management global strategist Benjamin Mandel https://finance.yahoo.com/news/game-stop-mania-has-gotten-inside-the-head-of-wall-street-175211384.html I think it won't be too long before the bigs figure out how to program their quants/AI to punish this or even profit from it. It's glorious while it lasts though.😀 Link to comment Share on other sites More sharing options...
Hersh Posted January 28, 2021 Share Posted January 28, 2021 I've seen some people saying that Robinhood sold their positions and apparently that's in their terms of agreement that they are permitted to do so. Anyone else seeing this? Link to comment Share on other sites More sharing options...
No Excuses Posted January 28, 2021 Share Posted January 28, 2021 1 minute ago, Hersh said: I've seen some people saying that Robinhood sold their positions and apparently that's in their terms of agreement that they are permitted to do so. Anyone else seeing this? It’s probably people who bought on margin. Link to comment Share on other sites More sharing options...
Springfield Posted January 28, 2021 Author Share Posted January 28, 2021 31 minutes ago, No Excuses said: It’s probably people who bought on margin. Thats it. They bought on margin and RH closed at RH’s discretion. Link to comment Share on other sites More sharing options...
Llevron Posted January 28, 2021 Share Posted January 28, 2021 3 minutes ago, Springfield said: Thats it. They bought on margin and RH closed at RH’s discretion. I dont understand what any of this means 2 Link to comment Share on other sites More sharing options...
Barry.Randolphe Posted January 28, 2021 Share Posted January 28, 2021 (edited) 7 minutes ago, Llevron said: I dont understand what any of this means It means we got ****ed and our wife's bf stole our brand new Miata Edited January 28, 2021 by Barry.Randolphe 2 Link to comment Share on other sites More sharing options...
Springfield Posted January 28, 2021 Author Share Posted January 28, 2021 18 minutes ago, Llevron said: I dont understand what any of this means they borrowed Robinhood’s money to buy GME stocks. These people were probably in the money and being RH’s money, they sold the shares because of “market volatility”. Of all the ****ty things that RH did today, I feel that selling people’s investments that were owned technically by RH was the least. Link to comment Share on other sites More sharing options...
No Excuses Posted January 28, 2021 Share Posted January 28, 2021 20 minutes ago, Llevron said: I dont understand what any of this means Some brokerages lend you money to buy stocks with. These people bought the stock using money RH gave them. It’s the least scum bag move that RH pulled today. Link to comment Share on other sites More sharing options...
Llevron Posted January 28, 2021 Share Posted January 28, 2021 1 minute ago, No Excuses said: Some brokerages lend you money to buy stocks with. These people bought the stock using money RH gave them. It’s the least scum bag move that RH pulled today. Ahhhh ok that makes sense. Appreciate the knowledge Link to comment Share on other sites More sharing options...
Captain Wiggles Posted January 28, 2021 Share Posted January 28, 2021 1 Link to comment Share on other sites More sharing options...
PartyPosse Posted January 28, 2021 Share Posted January 28, 2021 This whole thing is a bad precedence on all sides and has sealed the deal that I won’t be making any major investments any time soon. Between crypto and now this there is now no other merit for gains outside of buzz and hype. I’m not relying on Tik Tok stars to define prices. Link to comment Share on other sites More sharing options...
zCommander Posted January 28, 2021 Share Posted January 28, 2021 (edited) Got an email from RH. They are opening these blocked stocks up tomorrow. Probably due to two lawsuits filed against them and the heat they are taking from the Dems and Repubs. I lost the momentum that I had since yesterday. I closed by position for GME. In again after hours. Will hold now that RH is opening these stocks back up. They should have limited like TD Ameritrade did. Good thing all my stocks are on TD. I only use RH for crypto stocks. My sons was livid on the other hand as he uses only RH. An update on market conditions Hi, It’s been a tough day, and we’re grateful to you for being a Robinhood customer. In light of the extraordinary market conditions this week, we temporarily limited buying for certain securities this morning. Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and may make adjustments as needed. This was a temporary decision made to best continue serving you, and was not an easy one to make. We know it’s led to frustration and confusion, and wanted to provide some clarity. As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today. To be clear, this decision was not made on the direction of any market maker we route to or other market participants. The past year in particular has shown us that the financial markets are for everyone—not just institutional investors and hedge funds. We’ve seen a new generation enter the market, and they’re sparking conversations about what it means to be an investor. We stand in support of you, our customers. Democratizing finance for all means giving more people access, not less. We’ll keep monitoring market conditions and will update this Help Center article with the latest changes. We also published a blog post regarding today’s events. Thank you again for being a Robinhood customer. We’re so grateful for your support. Sincerely, The Robinhood Team Edited January 28, 2021 by zskins Link to comment Share on other sites More sharing options...
Springfield Posted January 28, 2021 Author Share Posted January 28, 2021 Yeah, after all this is over I'm getting out of RH and into something... better. RH is just so easy to use and its cheap. The problem is, they are clearly as crooked as an 8 year Donald Trump presidency. It's too bad that we are in the here and now with GME and I can't simply pull my funds from RH and transfer them to another broker for use tomorrow morning. Link to comment Share on other sites More sharing options...
Warhead36 Posted January 29, 2021 Share Posted January 29, 2021 14 minutes ago, Springfield said: Yeah, after all this is over I'm getting out of RH and into something... better. RH is just so easy to use and its cheap. The problem is, they are clearly as crooked as an 8 year Donald Trump presidency. It's too bad that we are in the here and now with GME and I can't simply pull my funds from RH and transfer them to another broker for use tomorrow morning. I use Vanguard and highly recommend it. Link to comment Share on other sites More sharing options...
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