There could be folks holding leveraged Bear ETFs or similar after last week's downturn, who were waiting to see how the market moved Monday morning to decide whether to sell or hold. I could see those folks losing quite a bit of money due to the inability to sell off those types of positions after the market reversed course on Monday.
I suspect you're right though, that it's mostly sour grapes concerning the opposite case - inability to buy as the market rallied.
Re:An Update from Robinhood’s Founders
by yesiamyourdad on Wednesday March 04, 2020 @02:25AM
(#22481838)
This is just like the late '90s, up to 9/11 when day trading was the rage. Now it's back in fashion, low-key.
I had never heard of /r/wallstreetbets or Robin Hood (well, barely) until a couple weeks ago.
Re:An Update from Robinhood’s Founders
by JumpCrisscross on Wednesday March 04, 2020 @03:13AM
(#22482006)
> Now it's back in fashion, low-key
There is an entire generation that has never traded through a crisis.
Re:An Update from Robinhood’s Founders
by speedplane on Wednesday March 04, 2020 @03:17AM
(#22482021)
> There is an entire generation that has never traded through a crisis.
Given that most crises seem to occur roughly every 7-15 years, there will always be such a generation.
A hypothesis: the reason why crises occur roughly 7-15 years is because that is approximately the length of society's collective memory concerning monetary issues.
Re:An Update from Robinhood’s Founders
by manigandham on Tuesday March 03, 2020 @10:30PM
(#22480982)
Only possible claims would be limit orders set before the outage that didn't execute but were in the price range.
And even then, limit orders are placed on a best effort basis. I'm sure their terms of service say as much. I have had limit orders not get placed before on otherwise functioning platforms.
So people who were going to continue to sell off got lucky that they couldn't make that trade, and people who were going to buy got unlucky?
Does anyone seriously expect compensation, or think that it's deserved, or is it group wishful thinking? How would it even work? Would they just take people's word for their supposed intent? Or are people wanting some sort of "here's a gift card" type deal?
This is not to defend RobinHood - I've personally kept my money with well-established companies cause conservative, old, proven systems seem like a good thing for a product in this space - but shit happens, no? There will be more good days, and more bad days, in the market, it's a long-run game anyway, and it's pretty easy to vote with your wallet in this space.