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

originally posted by: AaarghZombies

originally posted by: Ohanka
Extreme corruption. Robinhood and Citadel directors need to be in prison for the bullcrap they pulled today.

I'm not a lawyer, but I think that from a technical perspective they are actually in the right on this one.

What people have been doing in regards to Gamestop is a kind of market manipulation. They're colluding with each other to artificially boosting the value of the company's shares. Whoever sells first is going to make a bundle of money, the price will drop dramatically and everyone else will end up with worthless shares. Robinhood is suspending trading in order to prevent people buying at this artificially high price, or cutting and running and crashing the value.

I understand that what people are doing feels right. It feels like they are screwing over the markets and giving them the middle finger, but this kind of behavior isn't good for the stock market in general. If people were to go around doing this all of the time it would lead to market instability, which would end up hurting small investors because they'd usually be behind the curve.

Think of this as being like a form of controlled panic buying. Somebody deliberately starts a rumor on facebook in order to get people to panic buy a particular commodity. It might help the sales of that commodity in the short term, but in the long run it will hurt the entire market for that comodity.

Nothing done here is illegal except what Robinhood did. They tried to bailout the hedge fund. Except they didn’t even scratch the surface.

Melvin Capital is #ed as long as everyone holds.

This is not financial advice. I like this stock.

Robinhood is clearly in trouble.

Robinhood Caps Maximum Holdings In 36 Stocks To Just One Share

originally posted by: Lilroanie
So question from WS literate people here lol. My kid sent me an invite to RH last year so we both got $5 of free stock. My $5 was 1 stock of AMC as of this writing it's at $13 a share. It was chosen by me from a list when I signed up for my "free" $5 for signing up.

I do not have my bank linked to RH, have never bought or sold or anything other than sign up so my kid could get her free stuff. What to do? Is AMC gonna do what Gamestop did? and what does that mean for me? I hate numbers, they confuse me more than Dem...er nm

Do not sell. They have been shorted too, but on a much smaller scale. I like AMC too, but gotta finish the GME short squeeze first.

My retarded Autistic brothers of wallstreetbets will not cave.

originally posted by: loam
Robinhood is clearly in trouble.

Robinhood Caps Maximum Holdings In 36 Stocks To Just One Share

So what difference does it make if one person bought ten shares, or ten people bought one share?

Would not the damage be the same?

a reply to: NightSkyeB4Dawn

For one thing, the more people you get in on this, the harder it will be to coordinate the group and keep them together.

a reply to: NightSkyeB4Dawn

When you're drowning, you can't expect them not to flail.

a reply to: loam

www.npr.org... m=nprnews&utm_medium=social&utm_campaign=npr&fbclid=IwAR0Es2pfWEofw81-dvJBYla3wDoP301DUTRbxW_LwyuNaXI2W-6OIVTasGA

Game Back On: GameStop Stock Rebounds As SEC Warns Against Market Manipulation

a reply to: ketsuko

But with such a small investment, would not the incentive to sell be decreased, especially if they are being supportive of a cause. The amount would be small enough that they would not fear a loss.

Or maybe I have gotten it wrong.

So what happens if everyone, just holds on to their shares? How would that play out?

a reply to: NightSkyeB4Dawn

So what happens if everyone, just holds on to their shares? How would that play out?

Rich people will be very angry!

I'm quite sure I will lose my current investment. I just want to take a parasite hedgefund down with me.

Take your own advice wallstreet, never invest more than you can afford to lose. I didn't

a reply to: Ohanka

Ya know I was feeling that yesterday at market close...then it rallied after hours. I went and got drunk last night and actually slept through the whole trading session today...west coast trading happens real early for us lol. Anyway, when I woke up and checked in on the last 30min of market session today...all those feelings went away and I knew this was gonna be a hit...and a hard hit to the short selling bastard fat cats.

a reply to: NightSkyeB4Dawn

Look up the VW short squeeze of '08...in this case the little guy is the one squeezing instead of another hedge fund.

All this activiry with GME and RH reminds me of an old film.





Take that Mortimer and Randolph

originally posted by: RazorV66
I don’t use Robinhood, I use TD Ameritrade and I saw pop up messages yesterday saying some stocks would not be available for trading or would be restricted but they did not name them.
I assumed it was the GameStop stock but I do not have any.
But I have taken a big hit on the stocks that I do have just since Tuesday.

TD Ameritrade stopped retail investors from buying Gamestop in margin accounts, but still allows buying Gamestop in cash accounts.

While the general stock market has gone down, the most shorted stocks have gone up. Indeed, looking at the charts in the short term they're opposed, when the non shorted stocks go down, the shorted stocks go up, and vice versa, with the shorted stocks increasing on the long term.

As of today, Fidelity and Trade Zero allow buying of Gamestop in all accounts. There's a rumor that Fidelity is getting 100,000 new customers per day.

a reply to: RumannXylo

Fidelity won't restrict anything on GME...one of their own funds has a 9.75% stake of GME shares...

originally posted by: RumannXylo

originally posted by: RazorV66
I don’t use Robinhood, I use TD Ameritrade and I saw pop up messages yesterday saying some stocks would not be available for trading or would be restricted but they did not name them.
I assumed it was the GameStop stock but I do not have any.
But I have taken a big hit on the stocks that I do have just since Tuesday.

TD Ameritrade stopped retail investors from buying Gamestop in margin accounts, but still allows buying Gamestop in cash accounts.

While the general stock market has gone down, the most shorted stocks have gone up. Indeed, looking at the charts in the short term they're opposed, when the non shorted stocks go down, the shorted stocks go up, and vice versa, with the shorted stocks increasing on the long term.

As of today, Fidelity and Trade Zero allow buying of Gamestop in all accounts. There's a rumor that Fidelity is getting 100,000 new customers per day.

Fidelity is great; been with them for years. I cannot recommend them enough.

They offer a Visa card with 2% cash back on all purchases, EVERYTHING, with no restrictions or limits. Routinely earn an extra $600-700 every year in cash back just by paying anything I can with that card.

Also, if you get a debit card with them and use it at another bank's ATM machine, they will reimburse you for the ATM fee.

That being the case, I would temper expectations that if everyone simply hops platforms from RH to Fidelity, the targeted short squeezing won't get locked down at Fidelity too at some point. If Wall Street wants to freeze trading on specific securities to protect their own, they will do this with impunity. The head of the NASDAQ came right out and said this very thing, IIRC.

That being said...whose next?? AMC? I might hop in on this next round, got some coin to invest and I have no compunctions about separating hedge funds from their money.

Good job exposing this old friend

Top notch, loam!

What they're doing is criminal.its not their holdings to share and where are they when wall St, goldman sachs and their statist buddies is abusing us?

They should organize their efforts more clandestinely. Using Signal at a bare minimum. Coordinate their actions over many hours, add chaff to confuse humans and automated gatekeepers and continue ruining companies that deserve it and putting their investors out cold

Personally I sold my stocks back in Nov. I won't contribute to a false economy or making these idiots look good

Subvert from within

I prefer taxless cryptos nobody has ever heard of. But good luck even proving they exist

a reply to: SleeperHasAwakened

My daughter asked me about it at the height of the hysteria. Gave her some money to invest and she ends up extracting around 4500 without breaking a sweat. She almost doubled the 2500 I invested not bad and I hope she keeps it up I know I will

Wish I'd have followed her lead now. I got bit on the dot com in the 90s so stuck with mainly defense stocks LMT and RTN til past Nov