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A comment on WallStreetBets vs WallStreet: It's not about the money anymore. Parent comment

Re:WallStreetBets vs WallStreet: It's not about the money an... by duxup on Thursday January 28, 2021 @10:24AM (#25943195)
> It’s not my fault their business model is failing

"You" (well not you but you get what i'm saying) picked the service...

If folks are capable of investing directly in stocks they should be expected to understand the ramifications of picking a free service like Robinhood.

They ESPECIALLY should with all this populist banter going around...

[ Parent | on HN ]
Re:WallStreetBets vs WallStreet: It's not about the money an... by function_seven on Thursday January 28, 2021 @10:36AM (#25943447)
Yeah, I agree picking RH to do this isn't very smart. But I can hold both ideas in my head ("RH, don't do that", "You, don't pick RH")

But apparently Interactive Brokers is now doing the same. Much stronger argument to be made there. They're a pay service, with supposedly big-boy ideas about their clients, right?

EDIT: Also, note that Robinhood's decision isn't just affecting their own clients. They're screwing the wider market by restricting the pool of buyers. People who have no relationship with RH are now seeing their holdings lose value because fewer bids are making it to the books. I'm a TDA client. I didn't agree to Robinhood's TOS.

[ Parent | on HN ]
Re:WallStreetBets vs WallStreet: It's not about the money an... by thebean11 on Thursday January 28, 2021 @10:39AM (#25943502)
> a free service like Robinhood

And pretty much every other broker on the planet who made trading stocks free?

How is a user, no matter how "capable", supposed to predict this?

[ Parent | on HN ]
Re:WallStreetBets vs WallStreet: It's not about the money an... by zwkrt on Thursday January 28, 2021 @10:35AM (#25943427)
The majority of all e-brokers have made the same choice. This isn’t about Robinhood being for dummies or selling your data or any of that.
[ Parent | on HN ]