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  • Robinhood restricts trading in stock and options of GameStop, other names involved in frenzy

    From cnbc.com

    Amid the flurry of speculative activity in GameStop, brokers took steps to restrict the trading in GameStop stock and options and other related securities. In some cases, investors would only we able to sell their positions and not open new ones. Free-stock trading pioneer Robinhood and Interactive Brokers both took steps to curb the wild trading activity in heavily shorted names like GameStop, AMC Entertainment, Koss and more on Thursday. Shares of GameStock reversed course and slid quickly into negative territory as word of the trading restrictions spread. The stock, which traded above $500 at one point in ... (full story)

They pissed off the wrong apes.
Absolute BS and the brokers doing this should be SHUT DOWN and PROSECUTED.

"Shares of GameStop ballooned more than 400% this week and nearly 1,750% this year thanks to emboldened retail investors in Reddit chat rooms trying to stick it to Wall Street pros. The rookies are piling into names heavily shorted by hedge funds, squeezing the stocks higher as the institutions rushed to cover their losses. Shares of AMC Entertainment are up nearly 300% this week."

Guess what? it's legal for the big boys but not for the little guy.
It is always about running stops to gain advantage except on long term position trades, possibly swing trading as moves are larger.
Anyone who thinks markets are going to play by Queensbury rules short term, should not trade.
Only rule when it comes to markets and money is: can it be gotten away with.

What! No one thinks if a dealer has a large order to fill they are not going to move market to fill that order.

Grow up or don't trade.
They are not even trying to hide the market manipulation. Robinhoods business model is to sell customer position to companies like Citadel Secutities. And Citadel is a buddy of Melvin Capital who are currently f*cked up by covering their shorts on GME. Citadel borrowed Melvin $2bn.
So what is the best way to bring the price down? Exactly, simply don't let customers buy the shares anymore and only allow them to sell, if they are holding positions.
Quoting c0ldsun
...So what is the best way to bring the price down? Exactly, simply don't let customers buy the shares anymore and only allow them to sell, if they are holding positions.
What a sad situation!
RH sounds like the old FX bucket shops that would shut their servers down when clients positions went against them. Plus the 'big short' on this stock was connected to RH by billions of dollars? well thats just bad luck - He probably owns a few names in the gov financial office too- so i guess they will scream and shout about reddit giving financial advice and keep everything else quiet.

Very funny though, these companies that short 140% of a companies stock need a good kick in the nuts!
Quoting c0ldsun
They are not even trying to hide the market manipulation. Robinhoods business model is to sell customer position to companies like Citadel Secutities. And Citadel is a buddy of Melvin Capital who are currently f*cked up by covering their shorts on GME. Citadel borrowed Melvin $2bn. So what is the best way to bring the price down? Exactly, simply don't let customers buy the shares anymore and only allow them to sell, if they are holding positions.
If this can be proven on the upcoming class action law suit.. oh boy, some heads are going to roll (and i hope it will happen)
Save the manipulators and screw the public. The reddit group are not part of the "club".
  •  Guest
  • | IP XX.XXX.149.21
This is a "pump and dump" situation plain and simple. In the end, the hedge funds will be fine and the original "organizers" of this "pump and dump" scheme will make a killing. The losers will be the poor saps that came in late and bought stock/options in Gamestop for hundreds of times greater than the stock is worth and will lose big time. The only problem I see with Robinhood limiting stock purchases of Gamestock is it isn't justified if hedge funds have unlimited opportunities to short the stock. But, then again, the hedge funds that short the stock do not use Robinhood. And when Robinhood limited the purchase of Gamestop today, it only protected further suckers from getting in just as the stock price was on the verge of collapse. I see the price collapsing sometime between tomorrow and early next week.
Quoting Guest
This is a "pump and dump" situation plain and simple. In the end, the hedge funds will be fine and the original "organizers" of this "pump and dump" scheme will make a killing. The losers will be the poor saps that came in late and bought stock/options in Gamestop for hundreds of times greater than the stock is worth and will lose big time. The only problem I see with Robinhood limiting stock purchases of Gamestock is it isn't justified if hedge funds have unlimited opportunities to short the stock. But, then again,...
When gamma is done and the short seller has to payout I think it will be over for that stock,, Then the people can move to the next..
  •  Guest
  • | IP XX.XXX.149.21
Robinhood CEO Vladimir Tenev, for his part, went on CNBC and said his firm restricted trading in 13 stocks, not at the direction of any fund, but because brokers have capital requirements like other financial institution. Volatility can wreak havoc on required capital ratios. Volatility makes it tough to run a business where most of the money to run it is, essentially, debt. Don't forget many stocks are bought on margin. Stocks swinging 100% in a day make it tougher to manage all that.

https://www.etrade.wallst.com/v1/sto...%20Barrons.com
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  • | IP XX.XXX.149.21
Dogecoin soars 370% as Reddit group works to send the cryptocurrency 'to the moon'

Here we go again!
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  • Story Stats
  • Posted: Jan 28, 2021 10:15am
  • Submitted by:
     Newsstand
    Category: Entertainment News
    Comments: 12  /  Views: 2,202
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