(01-29-2021, 12:20 PM)jagibelieve Wrote:

(01-29-2021, 11:59 AM)flsprtsgod Wrote: It seems pretty clear they did it to protect their largest clients, as noted by the fact that Robinhood put out sell orders that the owners did not ask for nor could they cancel. By forcing the sale they gave the stock back to the Short Sellers.

This is the first that I have heard of this.  Do you have a source for that?

It is my understanding that the clearing house was requiring higher margin due to higher volume and volatility.  Robinhood essentially had to raise cash.  When they restricted trading they basically didn't allow buys only sells of certain stocks.

• Robinhood CEO Vlad Tenev, 33, last night defended firm's decision to sell users' shares without permission 
  
  
• 'We had to make a very difficult decision. It's been a challenging day,' Tenev told MSNBC