Re:Robinhood is facing nearly 50 lawsuits over GameStop frenzy
by sokoloff on Wednesday March 03, 2021 @08:47AM
(#26328192)
There was a several hour period one evening where some “it’s for your own good because of the volatility” message was the first comms from the company on the topic.
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Re:Robinhood is facing nearly 50 lawsuits over GameStop frenzy
by WoahNoun on Saturday March 06, 2021 @09:27AM
(#26367538)
That's not what the message said. It said "to protect our customers." Which is consistent with the capital requirements reason. If RH didn't meet the requirements, the entire company (all of their customers; even those who knew nothing about game) would go into receivership and the company unwound. Meanwhile, no one can sell their shares while this happens. Not meeting their capital requirements would have been very, very bad for all of RH's customers.