Robinhood forcibly selling shares of GameStop without users’ consent

NOQ REPORT ^ | 1-28-21 | C Q Livingston

[Brookhaven]

Reports are coming in that Robinhood, the stock broker app, is forcibly selling shares of GameStop on behalf of some of its users. The transactions cannot be canceled and it is being positioned as mitigating “unreasonable risk” on behalf of the company as well as the investor.

Billionaire hedge funds have been taking a huge hit after a Reddit group started buying up GameStop shares in an effort to counter a massive amount of short positions. This prompted a “short squeeze” that sent the stock skyrocketing. As the dominos fell, GameStop reached a high of over $400 dollars per share, more than 10,000% higher than its low point earlier this year.

Now, it appears Robinhood and other brokers are cutting the losses of the billionaires by limiting the gains of small investors.

[Brookhaven]

This is the second report I've seen of this. Note that the stock was over $400 a share, but they forced to sell at $118.

[Bell Bouy II]

Not a pro but me thinks R Hood is toast

[edwinland]

Even with the screenshots I don’t believe it.

I don’t think it’s legal and even if it were legal they would be 100% certain to be sued.

[Brookhaven]

RobinHood is not allowing INDIVIDUALS to purchase GameStop stock. So, they only people they could be selling it to are institutional investors (like the hedge fund that was holding too much shorted GameStop stock).

[PGalt]

elites can manipulate you right out of your last dime, your last breath.

[KC_Lion]

Don’t see how that is legal in the slightest, but hey, “mUh pRiVaTe cOmPaNy” can literally do what ever they want apparently.

[eyeamok]

Why isn’t the entire cabal in JAIL right now?? Financial Crimes committed by Wall Street against Normal Citizens are OK now?? How much longer before regular citizens begin exacting justified vengeance??

[E. Pluribus Unum]

We can screw you, but you can’t screw us!

[9YearLurker]

How can that be legal? Is it in the fine print somewhere?

[mewzilla]

There may be another take on this...

http://ace.mu.nu/

Scroll down to the bit about another margin call.

But DiscloseTV tried to get Robin Hood to comment on the report and, last I knew, Robin Hood was refusing.

That doesn’t look good.

[calljack]

I am a stock and option day trader that has been trading these instruments the last few days. The level of criminality and outright theft of client money was breathtaking today. Halt a stock, change the price,liquidate clients stock portfolios without their permission, cutting option prices in half while the the stock was halted, misrepresenting option prices, manipulating option prices to induce bad trades, it was absolutely unbelievable. I took photographs of my trading pages today for the lawsuits that must be coming. Massive massive fraud today on a scale I never would have believed. Now I do.

[Magnum44]

Definitely not a pro either. I’m not sure who effed who here. Can someone dumb down an explanation for those of us who dont play the market? Is there a good guy/bad guy to this?

[Bayard]

My take, is Robinhood will go under as the Hedge funds demand they fall on their own sword for what has transpired.

Lawsuits will go out, Robinhood goes bankrupt, and the shares and hedge funds staunch the bleed.

[irishjuggler]

Wow, if I were the recipient of that, I’d be a little upset. Actually a lot upset. To put it mildly. They forced him out damned near the low of the day, with today’s range being 112.25 - 482.85.

[Shadow44]

I can personally attest to it since my friend had their shares illegally sold by them.

Robin Hood is tethered to Citadel Capital who bailed out Melvin Capital by $2 billion. They are willing to break the law because whatever the SEC does will be less than the money they are about to lose once their short options come due.

[DesertRhino]

Utterly criminal. And they have just destroyed their own business.

[sockmonkey]

It’s true. It’s all over from various people. Rigged game. Only members of the elite class allowed to win.

[Jim Noble]

Financial Crimes committed by Wall Street against Normal Citizens are OK now??

They've been OK for quite a while.

We all need to pay a lot closer attention.

Finance capitalism and industrial capitalism are not at all the same thing.

[Obadiah]

Would it be legal to tell any hedge fund that they can no longer buy or sell a specific stock?

If this is true, there are some very fundamental legal issues involved. This act would demonstrate the system is completely rigged by the elites. Someone needs to publiclu answer here.

[PGR88]

For too long, a small group in our nation’s capital has reaped the rewards of government, while the people have borne the cost. Washington flourished, but the people did not share in its wealth. Politicians prospered, but the jobs left and the factories closed. The establishment protected itself, but not the citizens of our country. Their victories have not been your victories. Their triumphs have not been your triumphs, and while they celebrated in our nation’s capital, there was little to celebrate for struggling families all across our land. That all changes, starting right here and right now, because this moment is your moment -— it belongs to you. It belongs to everyone gathered here today, and everyone watching, all across America. This is your day. This is your celebration, and this, the United States of America, is your country.

Donald J. Trump. January 2017