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

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by MrMan on Thursday January 28, 2021 @10:51AM (#25943755)

I think its fine that the SEC attempts to clean up stock manipulation schemes. The reason anyone cares is that you can lose all your money playing around in the market, and the SEC is responsible for trying to keep people from being taken advantage of, and in cases like this swept up in manias.

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Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by freeone3000 on Thursday January 28, 2021 @11:20AM (#25944271)

You can lose all your money in the market playing around in the market. If I could sign some sort of statement saying I know what I'm doing, I won't invest more than I'm willing to lose, and while I may make extremely risky bets, I'm willing to forego your "protection" in favor of being able to lose all of my money, I would.

And I did, because I'm a registered investor. But this isn't available to most people, only the top 10%.

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Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by SpicyLemonZest on Thursday January 28, 2021 @11:28AM (#25944382)

I agree with your skepticism of registered investor requirements, but that's not really a related issue. Regulators and platforms intervene in this way against even the most sophisticated investors; the possibility of a trading freeze when the market exhibits crazy volatility is well-known.

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Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by freeone3000 on Thursday January 28, 2021 @01:40PM (#25946717)

I can buy GameStop. My friend can't. Trading freeze for everyone, sure. Trading freeze for some people, but not for other people? That's fucking bullshit.

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