Re:Robinhood reports 43% revenue decline
by quickthrowman on Friday April 29, 2022 @06:17PM
(#31211233)
It was 100% necessary, they didn’t have the necessary cash to post margin with the clearinghouse.
They would’ve been a failed brokerage if they kept allowing GME trades without being able to post the required margin, the SEC would’ve taken it over and people would’ve had to wait weeks/months to ACATS their shares and cash to another brokerage.
Does that sound like a better outcome for Robinhood users? I didn’t think so.
They would’ve been a failed brokerage if they kept allowing GME trades without being able to post the required margin, the SEC would’ve taken it over and people would’ve had to wait weeks/months to ACATS their shares and cash to another brokerage.
Does that sound like a better outcome for Robinhood users? I didn’t think so.