I actually decided to buy a few shares yesterday just to say I was part of history. This morning when RobinHood shut off buying to the retail crowd and the price dropped like a rock I went into eTrade out of spite and bought a few more. I’m selling half when it hits $500 just to cover my investment but my brother and I are both going to hold the rest out of sheer spite.
Supposedly the owner of Robin Hood is somehow connected to the main shorting Hedge Fund. There are already lawsuits against Robin Hood which was supposed to go public in the next few months.... instead all of the investment they did - including new cross-atlantic cables is going to go up in flames - the autists across the board have already decided that RH will pay for cutting people off. They are hemorrhaging accounts across the board. Same with Ameritrade and Schwab which took similar but not as drastic actions.
.@RobinhoodApp's apparently selling people's shares "for their own good" 🙃
Actual insanity pic.twitter.com/WYomDRm7uy— Wallstreetbets Fan Club (@ArkhonDH) January 28, 2021
Saw a video where he alleged the clearing costs were unmanageable for their clearing house as they had a 2 day window of exposure on trades.
Amazing how a market maker, who’s supposed to be able to handle the float at least, can’t, but on the other side of that trade everyone and their brother hedge fund wise can Naked short this stuff like no tomorrow...
What do you use for online trading?
I signed up on Robinhood but haven’t been approved yet. After their shenanigans today I am gonna ditch them.