Here’s a thought... is this just a ruse to panic folks into selling to drive the price down so that the short sellers can cover their positions at a lower price? I have to wonder...
Robinhood customers could panic, and start selling, causing a run on a cash strapped organization. If they immediately invested those funds in Game Stop stock at a different brokerage, the stock price might stay high. They’d have to pay their customers top dollar.
I’ll bet a lot of RH’s customers are pee-o’d and nervous right now.
RH promised its customers a vehicle to level the playing field with the big guys, when, in fact, they were shearing them with HFT scrapes and selling their personal information.
When push came to shove, they pushed their retail customers under the bus, and protected their HFT partners.