Transfer Stocks Out of Your Robinhood Account

Re:Transfer Stocks Out of Your Robinhood Account by nightski on Thursday January 28, 2021 @11:04PM (#25953738)

I've been watching the market for years. Pump & dumps happen. They are usually over in a few hours max. Sometimes much quicker. This has been going on for days (the majority of the week) and shows no signs of stopping. In fact tomorrow could be the most volatile day yet.

I'm not sure what is making you think all of the RH users were suckers, many of them have made quite a bit off of this. I don't personally use RH currently (although I have in the past). Ideally the bag holder in this situation would be those covering their short positions. But there is no doubt some will get burned. It's far from over though and there has been plenty of opportunity to cash out. In fact it's way up in aftermarket again this evening.

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Re:Transfer Stocks Out of Your Robinhood Account by bo1024 on Thursday January 28, 2021 @11:27PM (#25953906)

> This has been going on for days (the majority of the week) and shows no signs of stopping.

It seems that the reddit community has been expecting this for quite a while, though maybe they didn't expect it to get noticed outside of wallstreetbets.

15 days ago, with discussion on upcoming gamma squeezes and eventual short squeeze. Price was $20. https://www.reddit.com/r/wallstreetbets/comments/kwb827/gme_...

1 month ago: "shorts are still ~100% short and running out of time" https://www.reddit.com/r/wallstreetbets/comments/kh9na8/gme_...

4 months ago: "bankrupting institutional investors for dummies, ft Gamestop" https://ns.reddit.com/r/wallstreetbets/comments/ivs6dw/bankr...

(added) another from 4 months ago, focusing even more on a short squeeze: https://www.reddit.com/r/wallstreetbets/comments/ip6jnv/the_...

(I just found these via the search function.)

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Re:Transfer Stocks Out of Your Robinhood Account by SpicyLemonZest on Thursday January 28, 2021 @11:26PM (#25953901)

I can't speak for the original commenter, but the completely nonsensical claims I've been constantly seeing over the past few days are what's making me think the bulk of them will end up being suckers.

A friend was telling me a few hours ago that she's exiting once GME hits $5000 - yes, five thousand dollars, I specifically checked that was what she meant. She (and a few other friends who didn't name dollar amounts) have been misled about what a short squeeze is, and believe there's some specific future event called "the short squeeze" where they're guaranteed to make money if they're holding GME when it happens.

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Re:Transfer Stocks Out of Your Robinhood Account by adrr on Thursday January 28, 2021 @11:20PM (#25953850)

Stock market is a 0 sum game. Someone is going to pay in the end. It’s not the hedge fund, they already covered to the tune of $2 billion and someone has pocketed that money and it’s not retail investors.

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Re:Transfer Stocks Out of Your Robinhood Account by thatguy0900 on Friday January 29, 2021 @12:05AM (#25954190)

I think the reality with the stock market seems to be that eventually the tax payer is left with the bags whether they owned any stocks themselves or not.

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Re:Transfer Stocks Out of Your Robinhood Account by refurb on Friday January 29, 2021 @12:17AM (#25954277)

Sure. People should be pissed about bailouts using tax payer money.

So what was done was regulations were put in that forced brokers to limit risk. So RH followed those regulations and now people are pissed.

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Re:Transfer Stocks Out of Your Robinhood Account by DrJaws on Friday January 29, 2021 @12:04PM (#25959562)

The math didn't add when they said that they were already covered. They were lying about the position they hold.

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Re:Transfer Stocks Out of Your Robinhood Account by WanderPanda on Friday January 29, 2021 @12:14AM (#25954260)

This zero sum claim is intellectually on a level with the flat earth claim, how on this (flat) earth do people still fall for it?!

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Re:Transfer Stocks Out of Your Robinhood Account by testnew2 on Thursday January 28, 2021 @11:33PM (#25953950)

Its not 0 sum

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Re:Transfer Stocks Out of Your Robinhood Account by brewdad on Friday January 29, 2021 @12:05AM (#25954195)

It's zero sum the way a poker table in Vegas is zero sum. Every dollar won is a dollar lost by someone else. Meanwhile, the casino takes their rake.

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Re:Transfer Stocks Out of Your Robinhood Account by edgyquant on Friday January 29, 2021 @12:53AM (#25954513)

This isn’t always true though. If I buy an equity for 10$ and sell it to you for 11$ who then sells it for 13$ none of us have lost money. Only panic sells and crashes are zero sum in the way you are imagining.

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Re:Transfer Stocks Out of Your Robinhood Account by si1entstill on Friday January 29, 2021 @12:45AM (#25954458)

Eh - the poker table doesn't have a concept of dividends. (A free drink or two not withstanding)

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Re:Transfer Stocks Out of Your Robinhood Account by newacct583 on Thursday January 28, 2021 @11:29PM (#25953921)

> I'm not sure what is making you think all of the RH users were suckers, many of them have made quite a bit off of this.

The stock is still up like 250%. By definition, far more of them are still in their positions than out. You only "make" money when you sell.

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Re:Transfer Stocks Out of Your Robinhood Account by refurb on Friday January 29, 2021 @12:00AM (#25954158)

Quite a few piled in during the last couple of days when GME was over $100. There could still be a lot of losers.

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