Theyre not pivoting because GME is still viable. No other stock is nearly shorted as this one. You're seeing a short squeeze under the guise of a "meme stock"
Literally a historic event
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Robinhood Has Restricted Users From Buying GME, AMC, BB, NAKD, and NOK Stocks.
- Thread starter Lucky Aces
- Start date
Literally a historic event
Lol. Us peasants should know only the rich are allowed to make money in the stock market.
Can't wait for the fine in a year or two of a couple million dollars as "punishment" while this saves the rich billions.
Can't wait for the fine in a year or two of a couple million dollars as "punishment" while this saves the rich billions.
Yup, but all they actually did for me is give me a list of which stocks to add to my watchlist 🙌
GME isn't fundamentally about just meme'ing a stock up with a Ponzi scheme (although it has potential to do that). Not all stocks are shorted above 100% like GME.
GME is fundamentally a Ponzi, but with the possibility of the entire lower threshold being hedge funds if they squeeze it hard enough. Most stocks aren't in that situation and you can imagine that if they even sniff that possibility they may dump their shorts now.
The tone of that post was absolutely classist even if you ignore the use of commoner and a week ago no brokerage was blocking people from buying shares with their own money in a blatant capitulation to giant hedge funds. Which is entirely indefensible. Context is important.
I think we can find a middle ground between "Commoners shouldn't be able to invest in stocks" and "lack of regulation created a viral pyramid scheme." Regulation and consumer financial protection is that middle ground.
That doesn't answer the question though....
What am I being protect from not being able to buy stocks with spare cash I have.
i'm but a lowly commoner can somebody explain any of these terms to me? "float" etc
pretty much. You don't even have to look further than online slot machines or even PokerStars. People will dump $109 for the Sunday millions (maybe some random will have actually won it before), but they'll never win, they'll never cash beyond the first, but it's alluring cause of the riches. A lot of people who do trading or cash gambling have no idea that they're not winners long term. They just aren't. Some might, but they will statistically not be it. You won some blackjack? Great! Now you feel as if you need to play more cause you're a winner. You lose more than you brought. Repeat. Competitive gambling? Chances are there are people who you are against can easily handle any losses that day or month or year, but you cannot. They will still win. They didn't bring rent to gamble.
These unicorns are really just traps for people with less money and those with more will make off with more.
Damn, left for an hour and missed all the "commoner" fun.
I do hope that this does result in a push towards greater regulation. Stonks is nuts.
I do hope that this does result in a push towards greater regulation. Stonks is nuts.
People on reddit said this is happening to them as well, for what its worth.
It's legal if they were completely separate events, and not coordinated. Or if one action wasn't influenced by the other.
I'm guessing it's legal. I think a lot of people are suddenly going to discover the fine print that RobinHood glosses over in their urge to be the "easy" way to trade.
Exactly. The sentiment was the same regardless of whether the word "commoner" was used or not.
The theoretical "you" is being protected from engaging in something you don't understand and losing money. People/organizations that are smarter and wealthier than you are offering people a service without vetting that those people understand what they're doing, putting them at considerable risk.
Some people ARE smart enough to make money off of the system, and maybe you're one of them. But most people aren't. I'm comfortable denying smart people their "right" to get rich quick in order to protect the livelihood of everyone else.
It's been brewing for a few years now. Thanks in no small part to Robinhood making it super easy for normal folk to trade derivatives.
Yeah, and when people like Musk get involved, knowing he has wild dedicated fans who will do anything he says, it ends up being rich taking from other rich.
People are getting tricked into buying ps5's with credit cards on the hopes of flipping them for profit, so in the interest of protecting them from credit card debt we are requiring cash to buy a ps5 refusing sale of ps5 to any individual buyers no matter the payment method
no you cant use cash, check, store credit or debit card its for your own good you fucking idiot go away
no you cant use cash, check, store credit or debit card its for your own good you fucking idiot go away
Robinhood will burn to the fucking ground for this, there isn't a chance in hell they survive
The owner's must just be cutting their loses and planning their escape which will hopefully fail
I cant see any scenario where Robinhood doesn't go under
Anyone with a Robinhood account should work on transferring their investments to a different brokerage now
The owner's must just be cutting their loses and planning their escape which will hopefully fail
I cant see any scenario where Robinhood doesn't go under
Anyone with a Robinhood account should work on transferring their investments to a different brokerage now
I feel like you're sabotaging your own argument. So I'm allowed to invest MY money in lottery tickets or drop them into slot machines, but I am not allowed to buy a stock because I'm 'too stupid.'
This is what I have been wanting to know. I came in to ask earlier but it was mid dogpile.
If they were trading with margin accounts, they can be closed at any time. Brokers can't sell shares you own.
A lot of rich guys desperately trying to get the stock price down for tomorrow's closing.What the hell happened when I was on my lunch break?
EDIT: Oh, you mean the spike? Probably Citadel reopening their short.
So what do you suggest people that "aren't smart enough" to do with their money that they'd like to invest? Are you suggesting they should ONLY be allowed to take actions with their money that can be babysat to the point that no one can ever take advantage of them? Alternatively, if they want to make more money by investing or taking greater risk in sectors they MUST pass some sort of threshold that allows them to do so? Who will set that threshold and who is to say that that threshold won't intentionally be created to keep certain people oppressed?
Another manufactured sell-off by hedge funds?What the hell happened when I was on my lunch break?
looks to be a bug with GoogleWhat the hell happened when I was on my lunch break?
site like Bloomberg, Yahoo Finance, MarketWatch, etc. don't show the blip above $430
Its a short squeeze, perfectly legal (unless you're a Pleb®)
They are basically proving without any doubt that they are 100% unreliable and cant be trusted with your money, and now that they aren't the only brokerage with no fees they literally offer nothing and you would be crazy to use them