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

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by MuffinFlavored on Thursday January 28, 2021 @12:33PM (#25945349)

Everybody screaming "class action lawsuit" is lying to themselves. I'm pretty confident this is totally within Robinhood's rights according to their terms and conditions (that everybody with an account agreed to).

[ Parent | on HN ]

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by zucker42 on Thursday January 28, 2021 @12:44PM (#25945531)

Robinhood isn't only limited by its terms and conditions; there are also laws it has to comply with.

[ Parent | on HN ]

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by jandrese on Thursday January 28, 2021 @01:16PM (#25946220)

EULAs can't override federal law.

That said, even if the SEC does rule against Citadel I wouldn't expect the fine to be anything that bothers Citadel. The message time and time again is that the fees are way less painful than not cheating in the first place.

[ Parent | on HN ]

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by ypeterholmes on Thursday January 28, 2021 @01:08PM (#25946070)

So is closing the account and moving to a better app.. Robin Hood is going to take this on the chin.

[ Parent | on HN ]