Robinhood is scared now. But it got all its revenue from the hedge funds by allowing them to frontrun their users. They have always sided with the Wall Street wolves and sold their users short.
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This is like a robbery in daylight and in front of cops. If these guys donāt see jail then this is third world where we can get away with pretty much anything
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Yeah. I think weāre there. We just donāt want to admit it.
The President of the United States got away with an attempted coup. The Democrats donāt believe laws apply to illegals, tenants and the homeless. The moral hazard has been here fir quite a while.
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Childrenās book explanation of what happened by chamath.
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Looks like Robinhood is auto-selling peopleās shares?
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???
Is that even legal??
They do not have any right to sell automatically unless margin call is issued. If the holder got it in margin and the value goes down below threshold, broker can sell the stocks to meet the margin money.
It happened in dot.com crash, auto sale results and many bankrupted over night.
If this is going to create issues, market may end up in disaster and recession.
The way market behaved yesterday and today, I am scared to hold any stocks, except MRNA & BNTX which I secured some covered call.
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Iām sure this is margin related. There are people in front of RH office causing a ruckus.
Spent it by excessively overpaid for RE and stocks
He forgot to mention hedge fund managers pay capital gain tax rate as income tax instead of the progressive income tax which is more than twice that of capital gain tax for their income level.
Forced selling due to margin calls, is legal. Remember they up the margin requirements which is also legal.
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It depends on how Robinhood classifies accounts as āmarginā. Trades arenāt settled instantly. It normally takes days. Brokerages in effect lend out their own money to allow users to trade right after they sell. Also many brokerage firms classify accounts that can trade options as on margin.
If they classify āmarginā broadly enough every account is a margin account.
Chamath + AOC:
Wait a minute. Chamath is in bed with AOC? I was wondering why he is biting the hands that feed him.
So sorry to inform you that those two counters are held by professional shorts. They need to sell these long bets to cover their short losses.
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Time to delete Robinhood.
Or AOC is just trying to look professional.
I think so too and I bought as well again along with bunch of friend of mine. Their only reason: To f*** with hedge funds, RH, etc. Letās see what happens tomorrow.
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hah. Another person. I had been watching the chatter on GME for a few weeks but staying out as it wasnāt my cup of tea. but some friends and I bought in small amounts today despite staying away all this time after the bull shit that brokerages pulled. Just dynamically organized over google hangouts. Lol. I had to use my old Fidelity IRA account from a previous employer to buy as my usual trading account blocked buysā¦ It was a small sum to make a statement .
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