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Robinhood Has Restricted Users From Buying GME, AMC, BB, NAKD, and NOK Stocks.

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P-MAC

P-MAC

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Nov 15, 2017
4,455
Ikuu said:
🤦‍♂️
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please can you explain? I know that isn't how it works hence why I keep asking but all price charts are showing a consistent and huge drop since the middle of day yesterday. With robinhood also shutting out a huge chunk of the general public what happens now?
 
Castamere

Castamere

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Oct 26, 2017
3,517
eathdemon said:
seems like the app is a fine place to mess around, but if you want to for real invest you gunna need to go to someone bigger.
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Thats the thing tho. This whole endeavor is "messing around" it works because of how thin Robin hood is, getting in, its security and oversight etc. People getting upset, but this wouldn't have happened before. Its the same concept with bitcoin, its accessibility makes it volatile.
 

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chefbags

chefbags

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Oct 25, 2017
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P-MAC said:
but the price was dropping for hours before the market closed. According to Google and Freetrade it hasn't gone up since 1:30pm yesterday
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Probably cause of what robinhood and other apps closing gamestop and people not being able to buy that made it drop. When market opens we'll see if it keeps dropping or it actually goes up.
 
P-MAC

P-MAC

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Nov 15, 2017
4,455
chefbags said:
Probably cause of what robinhood and other apps closing gamestop and people not being able to buy that made it drop. When market opens we'll see if it keeps dropping or it actually goes up.
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Ahhh ok that's good to know, Thankyou. That's all I was asking because it seems like every other post is acting as if it's a given it's still going up. Was super confusing when the graph is going down. Let's hope it does!
 
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Xando

Xando

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Oct 28, 2017
27,292
Video Kojima said:
So this is basically tax money returning to tax payers. 🤷
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For now. At some point retail will run out of liquidity while those HF can lend money at near zero rates.

If i learned anything in the past years of investing fighting the fed will blowback at some point.

When liquidity on the buy side runs out you don't want to be in those stocks. That's why i recommend taking some profit off the table
 
P-MAC

P-MAC

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Nov 15, 2017
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Kyougar said:
gmezak6e.png


it doubled in the after/premarket
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Oh I know, I've been corrected already. What I said was what the graphs said at the time though. What's a good way to check this and have it always up to date? Google shows it as dropping to $193 a few hours before close yesterday and never increasing since. Freetrade shows the same. I assume they just don't update the aftermarket price but what's the most reliable source that does ?
 
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Kyougar

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Nov 3, 2017
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P-MAC said:
Oh I know, I've been corrected already. What I said was what the graphs said at the time though. What's a good way to check this and have it always up to date? Google shows it as dropping to $193 a few hours before close yesterday and never increasing since. Freetrade shows the same. I assume they just don't update the aftermarket price but what's the most reliable source that does ?
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www.marketwatch.com

GME Stock Price | GameStop Corp. Cl A Stock Quote (U.S.: NYSE) | MarketWatch

GME | Complete GameStop Corp. Cl A stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
www.marketwatch.com www.marketwatch.com
 
Fatoy

Fatoy

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Mar 13, 2019
7,220
Pandora012 said:
Screams liquidity issues. Which would make sense after all this volatility
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This is also a prime concern with Coinbase et al. Just because regulations require them to have sufficient liquidity to repay account holders doesn't mean they actually do. Between audits, they're more than likely tying up reserves in comparatively illiquid assets - hence the need for Robinhood to take on rapid additional cash.

Everyone betting on a Bitcoin / crypto moon needs to bear this in mind. If any of those currencies truly hits the stratosphere, there is almost no guarantee that any exchange or broker is going to allow you to actually cash out.
 
flamingo

flamingo

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Oct 27, 2017
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Zombine said:
Is Nokia a good bet or a bad bet today? With trading back open it could see a bump back to $6?
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Just from my basic understanding, NOK isn't over shorted like GME NAKD and AMC, during the short squeeze the hedge funds have to come back and buy at a higher price, which causes this inflation cycle.
 
Ether_Snake

Ether_Snake

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Oct 29, 2017
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So what happens if RH announced they are going bankrupt? Wouldn't that lead to everyone selling to get their money?
 
Mengy

Mengy

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Oct 25, 2017
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This Chris Cuomo interview with the CEO of RH, I mean damn Vlad just keeps talking in circles without answering anything. Very disturbing honestly:

 
Dennis8K

Dennis8K

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Oct 25, 2017
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Seems like Robinhood was prepared to be an app that allowed small scale retail investors to throw away their money.

Seems like Robinhood wasn't prepared to be an app that allowed large scale coordinated attempts at pooling retail investor resources to level the playing field against hedge funds.
 
artsi

artsi

Member
Oct 26, 2017
2,684
Finland
I took the gamble and won, bought at $0.054 and sold at $0.064

I thought maybe I made a mistake selling, but there's a huge resistance at $0.06 now so I think it will drop a little bit from here before the next rally.
 
meowdi gras

meowdi gras

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Dennis8K

Dennis8K

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Kyougar

Kyougar

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RetroGiant said:
How often are companies shorted like GameStop and amc?
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For hundreds of years.

The practice of short selling was likely invented in 1609 by Dutch businessman Isaac Le Maire, a sizeable shareholder of the Dutch East India Company (Vereenigde Oostindische Compagnie or VOC in Dutch).[SUP][11][/SUP] Edward Stringham has written extensively on the development of sophisticated contracts on the Amsterdam Stock Exchange in the seventeenth century, including short sale contracts
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And it is standard speculation for decades now. With even obvious attempts at market manipulation not being punished (" Financial Experts" criticizing a stock/company in hopes of tanking the stock while they hold significant short options on that stock.
 
Beignet

Beignet

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P-MAC said:
it's currently going down consistently.Unless the graphs are incorrect there's nothing to say it will increase again. Hence my question above
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It's the last stock day of Jan so GME shorters have to report on their stuff. Expect an extremely volatile market in order to scare you off and just hold for next week.

Not a financial advisor yadda yadda
 

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P-MAC said:
it's currently going down consistently.Unless the graphs are incorrect there's nothing to say it will increase again. Hence my question above
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P-MAC said:
It's over. The GameStop price hasn't gone up in 17 hours
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lol


Micerider said:
That's not how it works. How it works is that a Broker is taking exposure that it has to compensate with capital and liquidity. They probably couldn't cope with the surge. I am not buying into RobinHood being all goody goody, but I just think it was really first and foremost a practical problem of securing their lines that generated this situation.

But yes, to your point, markets are hugelly favorable to big actors, that didn't change.
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No, this was collusion.
 
RetroGiant

RetroGiant

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Oct 25, 2017
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Kyougar said:
For hundreds of years.



And it is standard speculation for decades now. With even obvious attempts at market manipulation not being punished (" Financial Experts" criticizing a stock/company in hopes of tanking the stock while they hold significant short options on that stock.
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So is it just now people (Reddit) have finally rallied together on a shorted company to profit? Wondering why it took so long for this to happen if it's so common.
 
Kyougar

Kyougar

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RetroGiant said:
So is it just now people (Reddit) have finally rallied together on a shorted company to profit? Wondering why it took so long for this to happen if it's so common.
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shorting is pretty common, but shorting a company over 100% of their stocks, not so much. That's why GME is doing a >1000% in a month and AMC and NOK barely getting pumped.

Also, social media, this would not have been successful 20 or even 10 years ago.
Also, luck. Wallstreetbets tried to make it happen several times but never got enough momentum.
 
julian

julian

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Oct 27, 2017
16,760
Gamechanger87 said:
Bunch of articles coming out now.

the central clearinghouse which is essentially there to ensure there is no requirement to unwind trades jacked collateral requirements to be posted up on robinhood trades to astronomical numbers. They require this collateral to comply with Dodd frank. They effectively said I don't know if everyone will have the cash to ensure all obligations are met so the brokers saw collateral requirements increase potentially to the tune of a few billion.

https://www.msn.com/en-us/money/com...after-traders-took-on-wall-street/ar-BB1dceVU

This has to come out of the brokers cash which they didn't have because this is an absurd amount. Thus the dominos fell.

also Robinhood raised a billion dollars today to meet cash requirements.

Will everyone complaining about nefarious plans now admit that this all happened because regulations were put in place to try and prevent having to fully unwind trades as I've been saying.

I can't wait for the Senate hearings when the brokers have to come forward and explain that this happened because of the regulations that the senate put in place to protect the market.
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What's bad is that this is not how Robinhood has presented this. The Webull guy said it and considering I literally work on software about this, I'm inclined to believe it, but Robinhood came out saying they were protecting their consumers, didn't seem able to explain any of this and at one point said it was cause of something else.

Mengy said:
This Chris Cuomo interview with the CEO of RH, I mean damn Vlad just keeps talking in circles without answering anything. Very disturbing honestly:

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He broadly says it here but it's a bit surprising how terrible he is at explaining or getting into any specifics. Almost as if he himself doesn't fully get it and is parroting broad points. Either way, he sure as shit didn't say this to his customers.
 
SteveWinwood

SteveWinwood

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Oct 25, 2017
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julian said:
What's bad is that this is not how Robinhood has presented this. The Webull guy said it and considering I literally work on software about this, I'm inclined to believe it, but Robinhood came out saying they were protecting their consumers, didn't seem able to explain any of this and at one point said it was cause of something else.


He broadly says it here but it's a bit surprising how terrible he is at explaining or getting into any specifics. Almost as if he himself doesn't fully get it and is parroting broad points. Either way, he sure as shit didn't say this to his customers.
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techbros coming in and making an app about something they dont understand? why i never
 
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