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Off-Topic Stock Market & Crypto Discussion

Robinhood has confirmed it has restricted trade in a statement.


"We continuously monitor the markets and make changes where necessary. In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AMC, $BB, $BBBY, $EXPR, $GME, $KOSS, $NAKD and $NOK. We also raised margin requirements for certain securities," the statement read.

The inability to trade GME (GameStop) and AMC shares sparked outrage across social media, as users took to Twitter to vent their frustrations.

"THEY DONE TOOK $GME AND $AMC OFF ROBINHOOD," wrote one. "They were like "no, the poor shall will not know our ways."

Another said: "You can no longer buy GameStop stock on Robinhood. Ditto Nokia, AMC, and all the other stocks that had been shorted.

"The free market is only free until rich people lose money."
 
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Zero volume on GME right now. This is a short attack that everyone predicted would come. I'm not panic selling.
 
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Oh man...WSB moving on to silver and miners....i had at least 60k position yesterday...added today.

Make me rich you crazy internet kids.
 
Bird4um said:
The brokerage houses have blocked buying.. how is that allowed?
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The system always protects itself. Everybody is always so concerned with arguing with each other for political purposes, which is exactly what they want. This has opened the eyes of millions. It’s always been the elites vs everyone else. Political parties were always a distraction.
 
Fellas, unless you know what you are doing, actively/constantly monitor your positions, have the financial means to accept big losses, AND are relatively lucky, you should not be doing speculating on highly shorted stocks.
 
NC_Canes_11 said:
The system always protects itself. Everybody is always so concerned with arguing with each other for political purposes, which is exactly what they want. This has opened the eyes of millions. It’s always been the elites vs everyone else. Political parties were always a distraction.
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When you have AOC and Ted Cruz agreeing on something (that it's BS that the brokerage platforms are restricting trading for individual investors but not institutional investors), that should get people's attention.

My bro in law turned 1k into 20k almost overnight with Gamestop. I'm a little annoyed that I missed out. Thought of buying the dip, but now I'm thinking the hedge funds are going to bully the brokerage firms into making sure the hedge funds end up the winners.
 
TimeB0mb said:
When you have AOC and Ted Cruz agreeing on something (that it's BS that the brokerage platforms are restricting trading for individual investors but not institutional investors), that should get people's attention.
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I was chatting with a friend about this. ****, even Donald Jr. agrees with the redditors. Bottom line is these hedge funds heavily shorted a stock that was $4 a share. So their hedge upside was $4 and their downside was, literally, infinite. I am not the smartest guy in the room, but that risk analysis isn't exactly a winner.
 
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wspcane said:
I was chatting with a friend about this. ****, even Donald Jr. agrees with the redditors. Bottom line is these hedge funds heavily shorted a stock that was $4 a share. So their hedge upside was $4 and their downside was, literally, infinite. I am not the smartest guy in the room, but that risk analysis isn't exactly a winner.
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I mean it's a winner because they've been getting away with that for decades. It's been virtually zero risk for them as they have basically been able to drive prices up or down at will.
 
wspcane said:
I was chatting with a friend about this. ****, even Donald Jr. agrees with the redditors. Bottom line is these hedge funds heavily shorted a stock that was $4 a share. So their hedge upside was $4 and their downside was, literally, infinite. I am not the smartest guy in the room, but that risk analysis isn't exactly a winner.
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The bigger issue is that this could be the end of long/short hedge funds, so a lot of very powerful people are not happy at all.
 
TimeB0mb said:
I mean it's a winner because they've been getting away with that for decades. It's been virtually zero risk for them as they have basically been able to drive prices up or down at will.
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SpikeUM said:
The bigger issue is that this could be the end of long/short hedge funds, so a lot of very powerful people are not happy at all.
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I am a pretty simple kind of guy, and would honestly prefer for shorting to not exist at all. If you believe in what a company is doing, buy into it. If not, find another investment. It leaves the world way, way too open to gamesmanship, especially with social media. The flip side is social media has now managed to corral a healthy amount of retail investors into one wave, which, it turns out, has quite a bit of collective buying power. Really fascinating stuff over the last weeks.

Imagine what could come out of discovery if (when) there is a class action lawsuit or SEC investigation against Robinhood and whomever else. Some of the Wall St folks may have been better off taking their very large losses on this and moving along.
 
TimeB0mb said:
When you have AOC and Ted Cruz agreeing on something (that it's BS that the brokerage platforms are restricting trading for individual investors but not institutional investors), that should get people's attention.

My bro in law turned 1k into 20k almost overnight with Gamestop. I'm a little annoyed that I missed out. Thought of buying the dip, but now I'm thinking the hedge funds are going to bully the brokerage firms into making sure the hedge funds end up the winners.
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They’ll end up winning in the end. People who believe anything will happen to Robinhood aren’t serious. Yellen took $800k from Citadel for f**** sake. They have all the money and the federal gov’t on their side.

There are whispers that those hedge funds doubled down on their shorts when they took those stocks down. I saw a 250% float number for GameStop about an hour ago.
 
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