Robinhood Has Restricted Users From Buying GME, AMC, BB, NAKD, and NOK Stocks.
- Thread starter Lucky Aces
- Start date
Yeah, I got their ATM card coming to me, and now I'm even wondering how long that thing will be usable for now
Just so I'm fully understanding this situation, was the primary purpose of the buy and hold of GME to fuck over hedge funds with opposite positions or was it to try and get rich knowing the hedge funds would have to buy back at those high prices? Or both?
Why do people always bring in the neolibs boogeyman? Just look at their Subreddit and they're against this too.wow from AOC to Trump, thats a broad coalition right there.
Meanwhile Neo-liberals
I use Questrade in Canada, haven't heard any chatter of them blocking meme share purchases yet. But then I bought a few days ago so I dunno
How do I remove my money from Robinhood. I have some money in deposit funds but its not allowing me to transfer it out.
I was able to get some more AMC stock from Cash App
I was able to get some more AMC stock from Cash App
Goddamn what am i even reading here
This is wild
and i'm sad because living paycheck to paycheck sucks. Should i really be getting into the Stonk game?
This is wild
and i'm sad because living paycheck to paycheck sucks. Should i really be getting into the Stonk game?
It's easier to understand the cognitive dissonance if you think of the phrase "free market" like "free speech."
Conservative populists like Ben Shapiro, Donald Trump Jr, and Glen Greenwald, are thinking that "the free market" means that private companies like Robinhood controlling their platforms is a violation of the concept of "the free market," similar to how they think that Twitter controlling speech on their platforms is a violation of the concept of "free speech."
Meanwhile, liberals like Elizabeth Warren, and now progressives like AOC, believe that government has a role in regulating the industries that create these platforms to prevent them from getting into circumstances like this that then require regulatory/government intervention (or hamfisted implementations at their own regulation).
A problem occurs when you have so-called liberals or progressives making utterly libertarian and nihilistic arguments around consumer financial protection, false equivalencies, and then placing blame on liberals or neoliberals for the lack of regulations that were all overturned by conservatives and libertarians. There is a meme a page or two ago and some poster here blaming neoliberals for this. No. It's libertarian-minded conservatives who have gone after most of our consumer financial protection laws, Republican enablers who supported them and and gave them the majority, and now those same Republicans -- Ted Cruz or Don Jr -- now transitioning to populist arguments misinterpreting what "free market" means to think that a free market (or free speech) means that private platforms arbitrarily regulating how their platforms work is a violation of the concept of the free market.
You should not. Get rich quick schemes almost never actually get someone rich. Most people lose money.
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As novel as it is to see the worst of the right wing agreeing with the squad, fuck this shit and fuck trying to make it go viral. I have no interest in seeing those populist, opportunist ghouls seizing onto the squad and dragging the leftist agenda into the muck.
If you're strapped for cash, I'd definitely advise against it. This is a weird story, but you're probably way more likely to go broke than get rich quick.
Is this the year the "eat the rich" finally comes through? I sure hope so.
Do not put anything in the stock market you can't afford to lose. If you have a spare $20, sure. But it would be beneficial in the long term to put that into an ETF instead of the meme gambling that's happening rn
my works 401k goes through fidelity, I just dont like em, they're super antiquated. if people like em, thats cool, but I said fuck it and opened a chase brokerage
TD's half restricting. If you're buying with cash you can still go through, but no margin. Fidelity is clean AFAIK at this moment.
People just need to trade in more used games so stonk goes up. economy saved.
It's chugging hard when clicking the link to open a brokerage account. I wonder if they're getting hit hard or just a coincidence.
I was gonna go cash, and I like what i've seen from the app perspective, but kinda hard to support restricting bullshit.
Get rich. I'm laughing at ppl saying it's a class war seriously, WSB spends it's days dreaming and acting like the degenerate elite they are shouting about.
Most neoliberals probably aren't really neoliberals or at least have widely varying policies some of which are neolib, some less so.
Some advice for some newer traders here:
I see a lo of you asking if they should use Vanguard for day to day trading - I would advise against it. It's GREAT for your Roth/Retirement type investments - but super antiquated website. (I use it for my Roth).
I would suggest TDA even though they're with the fuckery sometimes because of the robust think or swim platform and online tutorials galore if you really want to get into technicals. The mobile app isn't bad.
RH is dogshit, but I'd be lying if I said I didn't use it for options from time to time.
I see a lo of you asking if they should use Vanguard for day to day trading - I would advise against it. It's GREAT for your Roth/Retirement type investments - but super antiquated website. (I use it for my Roth).
I would suggest TDA even though they're with the fuckery sometimes because of the robust think or swim platform and online tutorials galore if you really want to get into technicals. The mobile app isn't bad.
RH is dogshit, but I'd be lying if I said I didn't use it for options from time to time.
Never put in anything you aren't willing to lose.
If you're living paycheck to paycheck then this is absolutely not for you.
If you can't buy but you can sell...
who the fuck are you selling to?
Seriously this is pretty blatant. If there was any doubt the system was rigged before it's completely gone now.
who the fuck are you selling to?
Seriously this is pretty blatant. If there was any doubt the system was rigged before it's completely gone now.
Yeah looking like these are the big dogs who don't care frankly one way or the other. right now anyhow.
wow from AOC to Trump, thats a broad coalition right there.
Meanwhile Neo-liberals
This is dishonest and wrong.
Libertarian conservatives have fought to overturn basic consumer financial protections that would protect consumers from ponzi schemes like this one, and also regulate institutional investors from requiring government intervention due to financial malpractice. Republicans gutted the CFPB, they overturned Dodd-Frank, and they've eliminated any financial regulatory structure that was setup to prevent predatory financial risk.
It might feel good to link arms with a fascist like Don Jr and look down on liberals or neoliberals, but it's intellectually dishonest and you're enabling their attacks on financial regulation when you do that. Make no doubt when the republican-gutted Consumer Financial Protection Bureau starts investigating malpractice by trading platforms like Robinhood, Don Jr and his Republican cohorts will be attacking it from all angles.
Correct me if wrong, isn't margin and options loaned from the broker? Can't really blame them for stopping ppl betting huge on a meme stock if the losses are gonna become theirs.
