Robinhood Reportedly Selling People’s GME Positions Without Warning, Investors Sue

a reply to: FauxMulder

Yep, got the same email and forwarded it to their support team wondering why they think market manipulation is ok. Anyone know a better app to move to?

Jon Stewart made an account on twitter just to make this comment:

"This is bull#. The Redditors aren't cheating, they're joining a party Wall Street insiders have been enjoying for years. Don't shut them down...maybe sue them for copyright infringement instead!!
We've learned nothing from 2008.
Love
StewBeef"
mobile.twitter.com...

It's funny that of all things /r WallStreetBets make Stewart join twitter.

a reply to: blueman12

Is any of this mess affecting the rest of the stuck markets?

👋😆👋


Robinhood CEO: Removing Stocks Like GameStop Was "Difficult" But "Part Of Normal Operations"

a reply to: Middleoftheroad

I've tried a few. Webull is pretty good but unfortunately none that I've tried have as good a user interface as robinhood.

a reply to: loam

I have very poor understanding of how the stock market works, but this GME thing has me very curious.

It sounds like those puny ants woke up.

So my question is, if they could make this happen with a company that was considered of little value, could they do this with a company of higher value?

Could the internet be used to force those in positions of power in wealth, into losing money by those with little or no money, by moving the market values by numbers of investors? If one person buys 10,00 shares of stock at $100.00 a share, would it be the same as 10,000 people buying the same stock at $100.00 a share?

a reply to: 38181

Jokes on them...I emptied that account on fidelity when they didn't allow me to use it on what I had intended to dump it on RH for.

a reply to: marg6043

Loads...the whole market has been all over the place the last couple days. I think a lot has to do with scrambling to cover losses elsewhere...meaning a lot of sell offs driving down damn near everything at one point or another.

Up till December 2020 GME was trading under $20 a share.
Today the reported range was from $112 to $483 closed at $193 ($126 after hours)?
The extremes don't even show on the publicly reported trading price graphs so less than a minute at $112 and $483.
$90,000 to over $500,000 still isn't a bad profit but you can set your own selling price.
Looks like a tight trailing stop with a wide limit would have worked best today.

a reply to: FauxMulder

They are keeping a list over on the WSB reddit of who didn't try to cut our throats today. I went with Fidelity because opening bell was fast approaching and it was the first I found I could trade GME with. Platform is slow aside from that it's a good brokerage I think. You can watch the tickets/charts elewhere and I honestly didn't have any issues with that.

a reply to: loam

They actually got a lot of shady stuff going on right now. I lost a good amount of money this last couple days due to canceled orders going through and or not canceling orders. Also having server errors and their ticket price is not been accurate.

Not to mention they charge you for sales and you don't even know unless you look at the details.

I only kept Robin Hood around for Doge but they're destroying that as well.

a reply to: marg6043

Im not sure. Im not an analyst. I know /r WallStreetBets is trying to pump up other meme stocks like AMC.

Doge coin is a meme crypto that is being pumped. Currently only 4 cents. It was less than 1 cent this morning. Doesn't seem like a lot but people are buying thousands.

originally posted by: marg6043
a reply to: blueman12

Is any of this mess affecting the rest of the stuck markets?

Inasmuch that money tends to flow quickly, to and from the next
thing that’s hot, simply owning a respected security
is no guaranty of growth,
nor assurance of investment stability.
Yes, in a word, to your question.

This is old news
to anyone who is new at investing.
There’s more than meets the eye here,
And that’s too bad.
Because it is fighting fire with fire.

To write regulations is to palm the ultimate cheat sheet.

No one gave a damn when it was unilateral war.
Not one sound from them.

Why now?

Fight back.

That’s why.

I will say this much.
I cannot imagine calling up Ameritrade
to demand an answer as to why they sold my
shares of anything, and at the day’s low!

They may be slow about a few things.
Wait times on phone are always 20 minutes.
I have never got through even once, 4 attempts
(situation usually resolves or I give up waiting)
They would not trade pot stocks last I checked (three years ago)
I believe they will do pennys (read this today while fumbling for contact info)
Servers crash on bad days (I don’t have enough risk to worry)
but this really bothers me. Every time there’s a downturn
you will lose opportunities with this platform. If you trade
systematically, this really hurts your movement.
Looking to get another broker asap due to this apparent BS.

But I cannot even imagine calling Ameritrade
to demand an explanation as to
why they stole my gain!

Prolly the hotshot boss there has a runny nose habit.
Not my problem. I don’t trade with them.
They don’t get hands on my money, information, or intent.
I always had a bad feeling about Robinhood.

I mean...snort, let the free market decide, right?
Nothing else would even sound sane!

Say, duh, how do you short Robinhood....do they have a ticker symbol or something?
I never done this.....

# 1342

a reply to: loam

My son turns 18 in a couple months. I was going to set up an account for him with a thousand dollars for him to "play" with.

Will have to look at another site now.

F##k Robbinhood.

originally posted by: FauxMulder
Doge coin is a meme crypto that is being pumped. Currently only 4 cents. It was less than 1 cent this morning. Doesn't seem like a lot but people are buying thousands.

What else do you recommend?
Suggested Doge to my son...turns out he bought some this morning.
Doubled.

a reply to: loam

Everyone reading this thread needs to flag this thread. This should be on the top page. Everyone on ATS needs to read and learn about this. This is totally FU**ED UP!

This is insane!

Robinhood and those other platforms are playing with fire! No they are playing with nukes! The fallout for them will be astronomical. These guys are toast!

POWER TO THE PEOPLE!

I had already began liquidation of my entire portfolio as soon as biden took office. I'm going all in on guns, gold and glory!

One of the last things I'm doing is shorting the $H!T out of Tesla. I'm gonna make bank on that this year then blow it all on GG and G!

a reply to: IAMTAT

Good on him he's ahead of the curve there. I dont like recommending stocks because I'll feel like absolute crap if they tank! But right now I'm big on any EV stock. Especially since Joe is making the entire federal fleet go EV.

a reply to: DBCowboy

Pretty sure I saw a list going around WSB reddit today of all the brokerages who didnt cut our throats. The leading one I think for US trades was fidelity. There are others who are partially blocking those stocks wether its options trading or margins or they did have those stocks blocked at some point today or currently do. I will say as I used to have a 401k with them...they actually manage money decently and are a good broker to look into a Roth IRA or 401k with.

a reply to: Alien Abduct

Well the CEO just had an interview where he blatantly dances around admitting liquidity problems before they were set to have an IPO release if I'm not mistaken. RH is basically done at this point...just a matter of time...