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Robinhood forcibly selling shares of GameStop without users’ consent
NOQ REPORT ^ | 1-28-21 | C Q Livingston

Posted on 01/28/2021 1:50:14 PM PST by 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.

(Excerpt) Read more at noqreport.com ...


TOPICS: Business/Economy; Crime/Corruption
KEYWORDS: bidenvoters; collusion; gamestop; hedgefunds; investments; reddit; robinhood; shortsale; squeezedshort; stockexchange; stocks
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To: Brookhaven

Dennis Moore
Dennis Moore
Steal from the poor
And gives to the rich
Stupid bitch
— Monty Python


21 posted on 01/28/2021 1:58:29 PM PST by ClearCase_guy (I'm sorry the Q thing didn't work out. We were wrong about that.)
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To: edwinland

The judge will be for sale to the highest bidder.

Hope the Robin Hood folks made enough money to buy the judge!


22 posted on 01/28/2021 1:58:35 PM PST by cgbg (A kleptocracy--if they can keep it.)
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To: Brookhaven

It’s such a rigged game. I wonder what carveout congress will give the hedge fund guys in order to stay on top.


23 posted on 01/28/2021 1:58:51 PM PST by ProudDeplorable (Concentrated power has always been the enemy of liberty. ~ Ronald Reagan)
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To: Brookhaven

Opened at 265, closed at 193.6 and Robinhood forced sold this persons position during the one minute time-slice which was the low price of the day. Unless this was somehow some kind of margin position that was being called, I just do not see how they could legally do this.


24 posted on 01/28/2021 1:59:46 PM PST by rigelkentaurus
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To: calljack

It’s a new platform: Xitrade


25 posted on 01/28/2021 2:00:36 PM PST by Dead Dog
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To: Brookhaven

Unauthorized taking of funds by little guys must be put down


26 posted on 01/28/2021 2:01:08 PM PST by PIF (They came for me and mine ... now its your turn)
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To: edwinland
"I don’t think it’s legal and even if it were legal they would be 100% certain to be sued."

Robinhood hit with class-action lawsuit after restricting GameStop stock

27 posted on 01/28/2021 2:02:17 PM PST by mass55th ("Courage is being scared to death, but saddling up anyway." ~~ John Wayne )
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To: Brookhaven

It’s a shame Robinhood is privately held. If it was a public company, I would short their stock right now. That company is dead. They just haven’t noticed yet. I imagine they will lose close to 100% of their customers.


28 posted on 01/28/2021 2:02:51 PM PST by Pollster1 ("Governments derive their just powers from the consent of the governed")
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To: Brookhaven

The Democrats, upon realization that Trump was winning brute force cheated and didn’t care who knew it. Now these people, up against hard reality, Brite force cheat and they don’t care who sees it.

It really is past time to start slapping people around.


29 posted on 01/28/2021 2:03:28 PM PST by TalBlack (We have a Christian duty and a patriotic duty. God help us.)
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To: calljack

“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.”

Good luck. read the history of Jon Corzine and the shareholders and account holders of MF Global.

The pages of fine print that people don’t read when they sign is there for a reason - to protect Elite Swamp Finance.


30 posted on 01/28/2021 2:03:34 PM PST by Reverend Wright ( Everything touched by progressives, dies!)
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To: Brookhaven

Did Robin Hood step in and prevent you from losing money as well?


31 posted on 01/28/2021 2:03:57 PM PST by Yogafist
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To: mewzilla

Bkmrk


32 posted on 01/28/2021 2:03:57 PM PST by RushIsMyTeddyBear
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To: Brookhaven

This is criminal.


33 posted on 01/28/2021 2:04:20 PM PST by Freedom of Speech Wins
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To: Magnum44

Big boys tried to F the little guy, not sure it worked out.
Big Boys are PO’ed little guy has same access to info they cornered for years.
will see


34 posted on 01/28/2021 2:04:36 PM PST by Bell Bouy II
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To: edwinland
It's not legal (unless it's hidden in the very fine print in their brokerage agreements with each client) and they can and will be sued.

They are toast.

As far as I know, there isn't a thing wrong with a squeeze being used to hammer short sellers. At the institutional level, it is done with impunity.

Looks like Robinhood got taken out behind the Sherwood Forest woodshed by the Sheriff of Nottingham.

35 posted on 01/28/2021 2:04:37 PM PST by RoosterRedux
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To: calljack

Fraud Resident
Fraud Stock
What’s next?


36 posted on 01/28/2021 2:05:59 PM PST by gathersnomoss (Sunny day....)
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To: Pollster1

They are being made to fall on their sword in order for the hedge funds to staunch the bleed imo.

There’s no way they can pay out the costs in damages.

The question is what shares will remain in whose hands after the illegal activity is done with, including when the courts speak.


37 posted on 01/28/2021 2:06:23 PM PST by Bayard
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To: RoosterRedux
Looks like Robinhood got taken out behind the Sherwood Forest woodshed by the Sheriff of Nottingham.

Clearly. Citi, IBG, Webull too. Wonder who the Sheriff was?

38 posted on 01/28/2021 2:06:44 PM PST by Kenny Bania (Ovaltine? Why not call it Roundtine?)
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To: Freedom of Speech Wins

Gee ya think welcome to 2021


39 posted on 01/28/2021 2:07:13 PM PST by Bell Bouy II
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To: Brookhaven

40 posted on 01/28/2021 2:07:43 PM PST by dead (Trump puts crazy glue on their grenades and they never know it until after they pull the pin.)
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