Robinhood is limiting purchases of stocks: AMC, Blackberry, Nokia, and GameStop

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by TheHypnotist on Thursday January 28, 2021 @08:55AM (#25941743)

This is just a guess, but I imagine the hedge funds that own shares of these platforms are pulling some strings. That's a bit conspiratorial, but is it really that unbelievable?

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Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by AnHonestComment on Thursday January 28, 2021 @09:00AM (#25941799)

It’s not unbelievable, but it does sound like a breach of fiduciary duties to side with investors against your clients.

Is what RH doing legal for a brokerage?

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Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by throwaway-8c93 on Thursday January 28, 2021 @01:31PM (#25946520)

> Is what RH doing legal for a brokerage?

At this point, nobody cares - Reddit found a repeatable distributed exploit that cannot be patched, and the financial system's self-preservation instinct kicked in.

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Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by imtringued on Thursday January 28, 2021 @01:56PM (#25947041)

The big short was the same thing. The VW short squeeze too. This is nothing new. The fix is to just close your short position.

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Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by dillondoyle on Thursday January 28, 2021 @06:01PM (#25950779)

I love that movie it shows them 'fixing the House' / messing them around in other ways. ratings houses refusing to downgrade MBS rates and the banks that wrote Burry's trade refused to execute until they also were on the right side.

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