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

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by PicassoCTs on Thursday January 28, 2021 @02:55PM (#25948076)

They got away with worse in 2008?

[ Parent | on HN ]

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by fractionalhare on Thursday January 28, 2021 @03:54PM (#25949055)

No "they" didn't. Wall Street is not a homogenous thing. You're thinking of banks in particular, which are about as different from hedge funds categorically as Facebook and Salesforce. Sure they're both tech companies with software products, but they have entirely different business models.

[ Parent | on HN ]

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by jachee on Thursday January 28, 2021 @04:41PM (#25949719)

I believe GP was specifically referring to Citadel, nee SAC: https://popular.info/p/the-merry-adventures-of-robinhood

[ Parent | on HN ]

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by kgwgk on Thursday January 28, 2021 @05:02PM (#25950031)

You may be confusing SAC / Point72 with Citadel.

[ Parent | on HN ]

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by jachee on Friday January 29, 2021 @02:15AM (#25954907)

Nope it was a joint infusion:

"[Melvin] was rescued with a $2.75 billion cash infusion from two other hedge fund titans, Steve Cohen and Ken Griffin. Cohen was Plotkin's former boss at SAC Capital Management. SAC shuttered after the firm pled guilty to insider trading and paid $1.3 billion in fines. Cohen was not personally charged. Griffin runs Citadel LLC ...

In exchange, Citadel and Point72, the successor firm to SAC, own an undisclosed stake in Melvin Capital Management."

[ Parent | on HN ]

Re:Robinhood is limiting purchases of stocks: AMC, Blackberr... by kgwgk on Friday January 29, 2021 @03:34AM (#25955293)

I was talking about the "Citadel, nee SAC" bit in your comment.

[ Parent | on HN ]