What is Wall Street Bets, the upstart Reddit group that is pummeling Wall Street? (yahoo.com)

1 hour ago, NJSigfan said:

anyone else getting/seeing this?  GME, NOK and AMC no longer supported on RH?

https://finance.yahoo.com/news/robinhood-bars-users-from-buying-game-stop-stock-infuriating-its-users-144007484.html

 

GME and other recent shirt squeezes have been blocked.

"Searches for AMC Entertainment (AMC) on the app also came up blank. (AMC, BlackBerry (BB), Nokia (NOK), and other stocks were among those that have gotten huge boosts from the Reddit forum.)"

1 hour ago, gleninjersey said:

https://finance.yahoo.com/news/robinhood-bars-users-from-buying-game-stop-stock-infuriating-its-users-144007484.html

I mean its bs. Not looking like much of a free market. 

14 minutes ago, Cheflife15 said:

I mean its bs. Not looking like much of a free market. 

Definitely messed up.  

I wonder if they were threatened with de-platforming?  

Why would one firm / market all of the sudden block only the buy side of a select few names??

17 minutes ago, gleninjersey said:

Why would one firm / market all of the sudden block only the buy side of a select few names??

He who holds the money, makes the rules...

In the words of Carlin: "It's a big club, and you're not in it".

The kids over at Reddit WSB, are going out of their minds:

https://www.reddit.com/r/wallstreetbets/

Robinhood prob just committed suicide.  

Droves of people will probably be pulling their money and business from them.

https://www.google.com/amp/s/www.independent.co.uk/news/world/americas/aoc-robinhood-app-gamestop-stocks-shares-b1794276.html%3famp

Never thought id agree with aoc

These big hedge funds run the markets... fuck with their money and they will shut you down. 

The trading platforms don't care about the volatility affecting the little guy, they are playing damage control for the billionairs. 

Even reddit tried to shut down the subforum where this all started.

Well, we're saved!!  AOC is all over the issue:

Alexandria Ocasio-Cortez
@AOC
1h

This is unacceptable. We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit. As a member of the Financial Services Cmte, I’d support a hearing if necessary.

------------------------------

Does that bolded section worry anyone, knowing a former bartender is in control of YOUR financial laws? 

4 minutes ago, Sniper said:

Does that bolded section worry anyone, knowing a former bartender is in control of YOUR financial laws? 

Absolutely.

1 hour ago, gleninjersey said:

Robinhood prob just committed suicide.  

The lawsuits have already been filed:

...."Following the outrage of stock manipulation from AOC, Brendon Nelson (presumably a Robinhood user), sued Robinhood Financial LLC, Robinhood Securities, LLC, and Robinhood Markets, Inc. in the Southern District of New York this afternoon for "removing Gamestop from its trading platform." 

The lawsuit reads: 

"Robinhood purposefully, willfully, and knowingly removing the stock "GME" from its trading platform in the midst of an unprecedented stock rise thereby deprived retail investors of the ability to invest in the open-market and manipulating the open-market." 

https://www.zerohedge.com/markets/you-can-not-purchase-additional-shares-robinhood-reportedly-removed-shuts-down-buying

as a RH user, they have restricted a few more stocks.  I hope they get sued beyond their ability to stay afloat.  This was flat our wrong and illegal!

1 hour ago, gleninjersey said:

Robinhood prob just committed suicide.  

Droves of people will probably be pulling their money and business from them.

already opened an acct with webull.com

4 minutes ago, RUTGERS95 said:

as a RH user, they have restricted a few more stocks.  I hope they get sued beyond their ability to stay afloat.  This was flat our wrong and illegal!

already opened an acct with webull.com

Same. Im at ameritrade and fidelity. That was bs what they did

5 minutes ago, Cheflife15 said:

Same. Im at ameritrade and fidelity. That was bs what they did

I'm wanting no commissions, margin rates that are low etc etc

 

 

20 minutes ago, Cheflife15 said:

Same. Im at ameritrade and fidelity. That was bs what they did

Much better picks. 

Guys, open accounts with REAL trading platforms that offer actual benefits. I get tons of free info on Schwab, they haven't shut down any trading, and they offer tons of free transactions. 

Robinhood was a scam to begin with, they offered people free trading on options and other stuff. Thats it.. 

14 minutes ago, RUTGERS95 said:

I'm wanting no commissions, margin rates that are low etc etc

 

 

That's specific to what funds or stocks you're trading. 

Schwab offers tons of etfs and mutals that cost nothing. And their buy/sell rates are low and per transaction on stocks at $0 if your doing it yourself online.

If you're day trading its something to think about, but few people invest like that and make money to worry about small fees. 

16 minutes ago, RUTGERS95 said:

as a RH user, they have restricted a few more stocks.  I hope they get sued beyond their ability to stay afloat.  This was flat our wrong and illegal!

It gets even better, RH is actually closing positions, without telling the customers:

...."Users are starting to report that Robinhood is selling their GME shares without warning. Screenshots like the one below are starting to make their rounds on social media. Meanwhile, platforms like Webull and Merrill Edge have also joined in the restrictions. 

18 minutes ago, RUTGERS95 said:

already opened an acct with webull.com

They're next..

There was a report on Reddit that the actual call to shut down these trades/platforms came directly from the White House... If so, there should be hell to pay..

This might be why:

70.87 Billion Reasons Why The Retail Brokers Just Betrayed Their Customers

Surely the best outcome - for Melvin's forced owners - would be to simply stop the firehose of liquidity whichever way possible, and after a few back door phone calls, which we hope to learn all about during the upcoming Congressional hearings, that's precisely what happened.

But Citadel and SAC Point72 were not the only ones on the firing line. As Faber also said earlier,  "any number of large of large hedge funds have suffered significantly."

How much? According to financial data analytics firm Ortex, short-sellers - mostly hedge funds - are sitting on estimated losses of $70.87 billion from their short positions in U.S. companies just in 2021 alone! Add puts and other underwater derivatives, and the real loss will be even greater. And just as striking: Ortex data showed that as of Wednesday, there were loss-making short positions on more than 5,000 U.S. firms.

https://www.zerohedge.com/markets/7087-billion-reasons-why-exchanges-betrayed-retail-customers

3 minutes ago, Sniper said:

It gets even better, RH is actually closing positions, without telling the customers:

...."Users are starting to report that Robinhood is selling their GME shares without warning. Screenshots like the one below are starting to make their rounds on social media. Meanwhile, platforms like Webull and Merrill Edge have also joined in the restrictions. 

They're next..

Its one thing to limits someone's options.. because they could very well lose money they don't have. 

But selling someone's stock that has already been purchased? What.the.fuck.

This cant be legal.

7 minutes ago, Sniper said:

It gets even better, RH is actually closing positions, without telling the customers:

...."Users are starting to report that Robinhood is selling their GME shares without warning. Screenshots like the one below are starting to make their rounds on social media. Meanwhile, platforms like Webull and Merrill Edge have also joined in the restrictions. 

They're next..

why are they next

 

Schwab costs money so they are out.  I invest and I have about 30k I like to play with.  I'm not paying any fees and regret moving from TD Trade yrs ago

4 minutes ago, Sniper said:

There was a report on Reddit that the actual call to shut down these trades/platforms came directly from the White House... If so, there should be hell to pay..

https://www.yahoo.com/news/white-house-monitoring-situation-gamestop-191131797.html

illegal as fk

Fidelity is still allowing trades.  

i had RH for my fun money trades to pay for new toys, but that ended and i closed out my account.  I hope this crash from this...

7 minutes ago, RUTGERS95 said:

why are they next

 

Schwab costs money so they are out.  I invest and I have about 30k I like to play with.  I'm not paying any fees and regret moving from TD Trade yrs ago

When was the last time you looked at their trading costs? When I opened my account it did cost money, but I havent paid a cent in years. They have to compete with all these other no commission based trading platforms, so they got rid of them a few years ago. 

20 minutes ago, Cheflife15 said:

Im at ameritrade and fidelity.

I'm at Fidelity and Vanguard, with a side of Wells Fargo and Morgan Stanley.

16 minutes ago, RUTGERS95 said:

I'm wanting no commissions, margin rates that are low etc etc

Most of what I do is commission free, I don't need to worry about margin.

13 minutes ago, JackDaWack said:

Schwab offers tons of etfs and mutals that cost nothing. And their buy/sell rates are low and per transaction on stocks. 

Fidelity and Vanguard are the same way with ETFs and Mutuals. Just need to watch the expense ratios.

'This is unacceptable': AOC and others side with retail investors, slam Robinhood and Wall Street amid GameStop mania (yahoo.com)

8 minutes ago, RUTGERS95 said:

why are they next

I said they were next in restricting trades. It was right above that letter.

5 minutes ago, JackDaWack said:

When was the last time you looked at their trading costs? When I opened my account it did cost money, but I havent paid a cent in years.

that''s the point, it shouldn't cost and the infrastructure is already there.  I won't pay a dime for a single thing I buy and since I don't buy debt, I should have zero commission on everything I do.

Merrill has a new platform

4 minutes ago, CMJeepster said:

'This is unacceptable': AOC and others side with retail investors, slam Robinhood and Wall Street amid GameStop mania (yahoo.com)

Don't be shocked, she hates rich people.... but its this crap that gets her a good footing with average people. 

1 minute ago, Sniper said:

I said they were next in restricting trades. It was right above that letter.

gotcha, now I see Merril as well too

fkers

ok I'll finish the open of webull, take the free stocks then transfer...lol