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A comment on Robinhood is said to draw on bank credit lines amid tumult. Parent comment

Re:Robinhood is said to draw on bank credit lines amid tumult by cwhiz on Thursday January 28, 2021 @07:00PM (#25951356)
> Robinhood just didn’t have the capital to clear trades of super volatile stocks.

This was not their stated reason for shutting down the trades. What is your source for this claim?

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Re:Robinhood is said to draw on bank credit lines amid tumult by adrr on Thursday January 28, 2021 @07:48PM (#25951997)
It’s in their blog.

https://blog.robinhood.com/news/2021/1/28/an-update-on-marke...

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Re:Robinhood is said to draw on bank credit lines amid tumult by Miner49er on Thursday January 28, 2021 @08:13PM (#25952232)
It's not, they don't give any reasons in that blog post.

They vaguely hint at things that could be the reason, but they never actually say those are the reason. This is either shady or horrible PR.

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Re:Robinhood is said to draw on bank credit lines amid tumult by cwhiz on Thursday January 28, 2021 @07:50PM (#25952012)
That is not a source for what OP is saying has happened.
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Re:Robinhood is said to draw on bank credit lines amid tumult by esoterica on Friday January 29, 2021 @02:55AM (#25955089)
> As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today.
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Re:Robinhood is said to draw on bank credit lines amid tumult by franklampard on Thursday January 28, 2021 @07:03PM (#25951403)
Melvin capital
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