News for hackers. Stuff that matters.

A comment on Bankrupt Hertz targets Robinhood traders in plot to dump $1B in stock. Parent comment

Re:Bankrupt Hertz targets Robinhood traders in plot to dump ... by Scoundreller on Friday June 12, 2020 @08:25PM (#23505417)
"Users holding" is a pointless metric. RH has no commissions.

How many are holding $10 as a joke?

And even with the "Users Holding" metric, it's not even in the top 100: https://robinhood.com/collections/100-most-popular

edit: Hrmmm, they don't show it on that list, but it has 170k holders, putting it around the 55th most popular holding (by user count, not $!)

https://robinhood.com/stocks/HTZ

[ Parent | on HN ]
Re:Bankrupt Hertz targets Robinhood traders in plot to dump ... by dragontamer on Friday June 12, 2020 @08:36PM (#23505495)
> "Users holding" is a pointless metric.

This is a stock which had far fewer than 5000 holders a few months ago, and now has 170,000 holders in Robinhood.

> How many are holding $10 as a joke?

Fewer than 165,000 people. While I'm up for allowing a certain level of stupid waste their own money... the number of buyers is beginning to make me worried.

You know that any stock that goes up and down by 500%ish in a few days is going to attract the attention of "dumb money". We all know where this is going.

Yeah, dumb money will do what dumb money does. A fool and their money are soon separated, etc. etc. The morality question we have to pose to ourselves however, is how "stupid" is "too stupid". Surely you draw a line somewhere?

[ Parent | on HN ]