The Jungle is self-supported by showing advertisements via Google Adsense.
Please consider disabling your advertisement-blocking plugin on the Jungle to help support the site and let us grow!
We also show significantly less advertisements to registered users, so create your account to benefit from this!
Please consider disabling your advertisement-blocking plugin on the Jungle to help support the site and let us grow!
We also show significantly less advertisements to registered users, so create your account to benefit from this!
Questions or concerns about this ad? Take a screenshot and comment in the thread. We do value your feedback.
Stock Market under President Biden
|
(01-29-2021, 11:11 AM)flsprtsgod Wrote:(01-29-2021, 10:30 AM)jagibelieve Wrote: Fake news. Robinhood and other brokerages didn't restrict trade on those select securities to "protect the short sellers". They essentially did it to protect themselves. Is it right? In my opinion no. Is it illegal? I'm not so sure. There are 10 kinds of people in this world. Those who understand binary and those who don't. We show less advertisements to registered users. Accounts are free; join today!
(01-29-2021, 11:13 AM)HURRICANE!!! Wrote:(01-29-2021, 11:11 AM)flsprtsgod Wrote: How is it fake news? It's exactly what happened. Perhaps you should look in the mirror as you say that. There are 10 kinds of people in this world. Those who understand binary and those who don't.
(01-29-2021, 11:27 AM)jagibelieve Wrote:(01-29-2021, 11:11 AM)flsprtsgod Wrote: How is it fake news? It's exactly what happened. 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. “An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato
(01-29-2021, 11:59 AM)flsprtsgod Wrote:(01-29-2021, 11:27 AM)jagibelieve Wrote: Robinhood and other brokerages didn't restrict trade on those select securities to "protect the short sellers". They essentially did it to protect themselves. Is it right? In my opinion no. Is it illegal? I'm not so sure. And they restricted accounts from buying gme...but you could damn sure sell it. Citadel owns something like 40% of robinhood. Citadel fronted Melvin capital 2.something billion dollars to bail them out very recently. The same Melvin capital that’s the target of the Reddit stock brigade right now. Yeah, I’m sure it’s just a coincidence that they stopped traders from buying yesterday, and now only allowing them to buy five shares today.
What in the Wide Wide World of Sports is agoin' on here???
(01-29-2021, 11:59 AM)flsprtsgod Wrote:(01-29-2021, 11:27 AM)jagibelieve Wrote: Robinhood and other brokerages didn't restrict trade on those select securities to "protect the short sellers". They essentially did it to protect themselves. Is it right? In my opinion no. Is it illegal? I'm not so sure. 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. There are 10 kinds of people in this world. Those who understand binary and those who don't. We show less advertisements to registered users. Accounts are free; join today!
(01-29-2021, 12:20 PM)jagibelieve Wrote:https://www.dailymail.co.uk/news/article...Trump.html(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. From the article:
What in the Wide Wide World of Sports is agoin' on here???
(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. These owners weren't holding on margin and therefore not susceptible to a margin call. “An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato
(01-29-2021, 12:30 PM)Bchbunnie4 Wrote:(01-29-2021, 12:20 PM)jagibelieve Wrote: This is the first that I have heard of this. Do you have a source for that?https://www.dailymail.co.uk/news/article...Trump.html Hmm... that's the only news outlet that I've seen report something like that. The only thing that I have seen is that Robinhood did close positions on people with options which is not unusual. I have a hard time believing that Robinhood sold shares that were owned outright. There are 10 kinds of people in this world. Those who understand binary and those who don't. We show less advertisements to registered users. Accounts are free; join today!
(01-29-2021, 12:53 PM)jagibelieve Wrote:(01-29-2021, 12:30 PM)Bchbunnie4 Wrote: https://www.dailymail.co.uk/news/article...Trump.html I mean, hell, if the CEO admitted to it what else do you need? “An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato
(01-29-2021, 11:59 AM)flsprtsgod Wrote:(01-29-2021, 11:27 AM)jagibelieve Wrote: Robinhood and other brokerages didn't restrict trade on those select securities to "protect the short sellers". They essentially did it to protect themselves. Is it right? In my opinion no. Is it illegal? I'm not so sure. Yep. They restricted retail buying and simultaneously used a ladder attack to drive the price down hoping retail investors would panic sell. But it didn't work.
(01-29-2021, 12:53 PM)jagibelieve Wrote:(01-29-2021, 12:30 PM)Bchbunnie4 Wrote: https://www.dailymail.co.uk/news/article...Trump.html If it’s a normal thing, why would the CEO have to make a “difficult decision” about it?
What in the Wide Wide World of Sports is agoin' on here???
(01-29-2021, 01:01 PM)flsprtsgod Wrote:(01-29-2021, 12:53 PM)jagibelieve Wrote: Hmm... that's the only news outlet that I've seen report something like that. The only thing that I have seen is that Robinhood did close positions on people with options which is not unusual. I have a hard time believing that Robinhood sold shares that were owned outright. From what I have seen, yes they did sell shares that were on margin. There is nothing illegal about that. I'll be interested to see if the SEC finds that anything other than that took place. There are 10 kinds of people in this world. Those who understand binary and those who don't. We show less advertisements to registered users. Accounts are free; join today!
(01-29-2021, 01:20 PM)Bchbunnie4 Wrote:(01-29-2021, 12:53 PM)jagibelieve Wrote: Hmm... that's the only news outlet that I've seen report something like that. The only thing that I have seen is that Robinhood did close positions on people with options which is not unusual. I have a hard time believing that Robinhood sold shares that were owned outright. I am just speculating here, but I think it all had to do with timing. Normally a broker will issue a "call" which gives the account holder time to cover their margin. Doing so is more or less a "courtesy". In this case with unusually high volume they probably had to pull the trigger pretty quick. Again, I'm not saying that it is right. All that I am saying is that it doesn't appear to me that they broke any laws. I'm also saying based on what I have seen and understand, they did what they did to protect themselves as well as their other clients. There are 10 kinds of people in this world. Those who understand binary and those who don't.
Investors taking profits and raising cash to short Gamestop.
There are 10 kinds of people in this world. Those who understand binary and those who don't. We show less advertisements to registered users. Accounts are free; join today!
(01-27-2021, 01:58 PM)Bchbunnie4 Wrote:(01-27-2021, 01:37 PM)HURRICANE!!! Wrote: Congrats !!! I almost pulled the trigger on GME the other day but it was already up 200% so I bought ZNGA, which is doing nothing. I then bought AMC after CNBC was promoting it after they got a loan infusion. Now we know who deep [BLEEP] value is lol
(01-29-2021, 04:13 PM)Senor Fantastico Wrote:(01-27-2021, 01:58 PM)Bchbunnie4 Wrote: Bought blackberry too! I wish! Turns out this guy is... https://youtu.be/bmwx78rF1xo
What in the Wide Wide World of Sports is agoin' on here???
The more news that comes out the more it looks like Robinhood is going down. They were slated to go public later this year, but I just don't see it happening.
For those angry about them putting limits on stock purchases, it's not illegal and it is in their Terms of Use when somebody opens an account with them. The underlying fact of the matter is the company pretty much owns "paper assets" and can't handle the volume or volatility of the trades going through them. I find it kind of ironic that the goal of some on Reddit is to "sock it" to the hedge funds that shorted Gamestop, and they did cause some damage. However, the larger hedge funds have covered and come through just fine. The entity that they "socked it to" is the very vehicle that they used. Robinhood just can't handle it and I suspect that they will not be around very much longer. Getting to the actual topic of this thread, I find it kind of disturbing that the President and his staff have been dodging this issue for the last couple of days. Rather than deal with the economy, the current administration is focusing their efforts on "green energy" and "equality". StroudCrowd1 might be partially right about the "Biden selloff". I can see many investors going to cash until this mess is settled. There are 10 kinds of people in this world. Those who understand binary and those who don't. |
Users browsing this thread: |
20 Guest(s) |
The Jungle is self-supported by showing advertisements via Google Adsense.
Please consider disabling your advertisement-blocking plugin on the Jungle to help support the site and let us grow!
We also show less advertisements to registered users, so create your account to benefit from this!
Please consider disabling your advertisement-blocking plugin on the Jungle to help support the site and let us grow!
We also show less advertisements to registered users, so create your account to benefit from this!
Questions or concerns about this ad? Take a screenshot and comment in the thread. We do value your feedback.