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

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by beagle3 on Thursday January 28, 2021 @12:44PM (#25945544)

A broker is nit your friend who refuses to buy junk food for you because he suspects you’ll be sick.

A broker is yiur fiduciary/agent; their discretion at refusing your order should be limited to well defined circumstances, and I would be surprised if this is one of them.

(I would not be surprised if the EULA lets them do what they want, but I would be surprised if it would actually be found legal in court —- though it will likely take ages to test because it likely contains a binding arbitration clause)

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Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by simias on Thursday January 28, 2021 @01:40PM (#25946724)

It's not what I was trying to say, of course they're not your friend, I'm not that naive. But on the other hand if many of their users go bankrupt because of poor trades that could backfire against Robinhood themselves, directly or indirectly (for instance by motivating new regulations).

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Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by EEMac on Thursday January 28, 2021 @02:36PM (#25947752)

Sorry, but no. Concern for the little people isn't even slightly indicated by Robinhood's actions.

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