I am sure if the whiners bothered to look in the EULA/Terms of Service they consented to when using the app/service they will find they agreed to allow such things happen. Almost every contract/EULA/Terms of Service has a force majeure clause.
Exactly.
Some people feel they have a constitutional right to do whatever they please, regardless of what they agree to.
How many hedge fund managers have signed the petition?
Once the hedge funds have burned through their doe buying exorbitant shares anyone still holding GME will face a falling stock price. In a way if you were Robinhood you would be worried that a lot of people will blame it.
that said this cancel culture crap has really got to stop.
I don’t care for cancel culture for all the reasons it can be toxic, but I feel this is fine. If people want to band together and save beloved companies that should be allowed. Hedge funds should realize these shorts carry very high risk. History and nostalgia have a very high value. Nothing illegal here except robinhood manipulating the market to try to protect a bad bet made by their wall street friends.
You can bet the SEC will be investigating, but it's going to be the indivudual investors that are investigated for stock manipulation.
There is no crime of "stock manipulation," and there is nothing illegal about trading stock for reasons other than fundamentals. In fact, that makes up the majority of all trades.
"Individual investors" did nothing wrong aside from exercising lack of judgment in buying into this frenzy. But being stupid is not illegal, otherwise half the people who posted above would be in jail.
I'm thinking that Apple should use this approach to reduce shorting activity on their stock. It also plays into the stock buyback program. If the shorts start working heavily on AAPL, Apple can buyback the stock at a lower rate and drive the price into the max pain zone when the shorts expire.
This is hardly a "kerfuffle." It's massive story that isn't going away. Both sides of the aisle are losing their minds over this. A group of Redditors have broken the "prisoner's dilemma" and proved that regular people, working together, can move markets better than Wall Street ever could. The actions of Robinhood and others are going to be investigated, and have bene widely slammed. Most of all, these people have exposed how rigged the Hedge Fund game is, and really, how Wall Street manipulation really works. And these folks aren't done, from what I hear. Should be interesting to see what happens.
For them to cover their arsses at the cost of the trader, not only it should be removed.. fraud charges has to be brought to them. And Google shoudl be sued and held accountable for removing reviews and hence misleading/covering up! But as it has become very clear in the recent times... our Judicial and legislative entities have become frauds themselves .... Fraud has been legalized in USA., even at the highest of high levels ........and its going to be very hard to reverse! Super sad state of affairs!
Let's hold off on making any final judgements on RobinHood. They should be investigated but their explanation for why they are having to restrict purchases of heavily traded companies does make sense. I admit my first thought was that they had acted illegally in restricting sales but if it turns out they had no choice, there may be no crime. The SEC is looking into the matter. It would be a shame to kill off RobinHood which has opened the stock market to many people who would otherwise have never had access.
Let's hold off on making any final judgements on RobinHood. They should be investigated but their explanation for why they are having to restrict purchases of heavily traded companies does make sense. I admit my first thought was that they had acted illegally in restricting sales but if it turns out they had no choice, there may be no crime. The SEC is looking into the matter. It would be a shame to kill off RobinHood which has opened the stock market to many people who would otherwise have never had access.
Here’s the funniest part of all this: They destroy the billionaire(s) who helped build Robinhood and they also risk having all their accounts locked up and unable to collect on the money they thought they’d “win” after they were through because ruining the biggest shareholder of Robinhood also destroys Robinhood.
Let's hold off on making any final judgements on RobinHood. They should be investigated but their explanation for why they are having to restrict purchases of heavily traded companies does make sense. I admit my first thought was that they had acted illegally in restricting sales but if it turns out they had no choice, there may be no crime. The SEC is looking into the matter. It would be a shame to kill off RobinHood which has opened the stock market to many people who would otherwise have never had access.
Here’s the funniest part of all this: They destroy the billionaire(s) who helped build Robinhood and they also risk having all their accounts locked up and unable to collect on the money they thought they’d “win” after they were through because ruining the biggest shareholder of Robinhood also destroys Robinhood.
It shines a light on how fraudulent the whole system is. This is the kind of thing that has been going on behind closed doors for decades. Robinhood uses other companies to execute trades and they also sell the trading information to high frequency traders, they made $271m from doing that in 2020. Free products from for-profit companies always have to make money somehow:
Robinhood uses companies like Citadel to execute trades and one of their subsidiaries bailed out Melvin Capital who the traders were trying to destroy. They claim there's no link between the subsidiaries but obviously they have to say that or it exposes the fraud that it is. The people who have the money control the system and who gets access to it and it needs to be shut down if it can't be a fair system.
There needs to be an outright ban on short selling, high frequency trading, leveraged trading and currency trading. This is a fraud that is wrecking the economy for everyone except the wealthy people who control it.
Let's hold off on making any final judgements on RobinHood. They should be investigated but their explanation for why they are having to restrict purchases of heavily traded companies does make sense. I admit my first thought was that they had acted illegally in restricting sales but if it turns out they had no choice, there may be no crime. The SEC is looking into the matter. It would be a shame to kill off RobinHood which has opened the stock market to many people who would otherwise have never had access.
Here’s the funniest part of all this: They destroy the billionaire(s) who helped build Robinhood and they also risk having all their accounts locked up and unable to collect on the money they thought they’d “win” after they were through because ruining the biggest shareholder of Robinhood also destroys Robinhood.
It shines a light on how fraudulent the whole system is. This is the kind of thing that has been going on behind closed doors for decades. Robinhood uses other companies to execute trades and they also sell the trading information to high frequency traders, they made $271m from doing that in 2020. Free products from for-profit companies always have to make money somehow:
Robinhood uses companies like Citadel to execute trades and one of their subsidiaries bailed out Melvin Capital who the traders were trying to destroy. They claim there's no link between the subsidiaries but obviously they have to say that or it exposes the fraud that it is. The people who have the money control the system and who gets access to it and it needs to be shut down if it can't be a fair system.
There needs to be an outright ban on short selling, high frequency trading, leveraged trading and currency trading. This is a fraud that is wrecking the economy for everyone except the wealthy people who control it.
Yes, I agree short selling is betting on a company losing verse winning and I rather bet on winner than a loser. However, in this case lots of individually made lots of money on the short squeeze, the wealthy people lost in this case. Because the Hedge Fund never thought the average person figure out what they knew. Yes you could also only allow someone to buy and hold stock and then only sell at some future date. How does that help anyone. You know people who actually own GameStop stock made money lending their stocks to the hedge fund, why can't the owner of an asset loan it out to make money. Are also against people renting a room in their house or renting a home they have and is not using. Where do you draw the line and why is it okay to loan your assets and in other case you can not do it. We are all adults and allow to make our own decisions and risk assessments.
BTW, if you have any money in the market especial mutual fund you most likely are benefiting from this kind of risk mitigation activity. Yes hedge funds are about protecting for the down side of the normal market condition. Yes manipulation happens but that happens in a standard buy and sell transactions.
Let's hold off on making any final judgements on RobinHood. They should be investigated but their explanation for why they are having to restrict purchases of heavily traded companies does make sense. I admit my first thought was that they had acted illegally in restricting sales but if it turns out they had no choice, there may be no crime. The SEC is looking into the matter. It would be a shame to kill off RobinHood which has opened the stock market to many people who would otherwise have never had access.
Here’s the funniest part of all this: They destroy the billionaire(s) who helped build Robinhood and they also risk having all their accounts locked up and unable to collect on the money they thought they’d “win” after they were through because ruining the biggest shareholder of Robinhood also destroys Robinhood.
It shines a light on how fraudulent the whole system is. This is the kind of thing that has been going on behind closed doors for decades. Robinhood uses other companies to execute trades and they also sell the trading information to high frequency traders, they made $271m from doing that in 2020. Free products from for-profit companies always have to make money somehow:
Robinhood uses companies like Citadel to execute trades and one of their subsidiaries bailed out Melvin Capital who the traders were trying to destroy. They claim there's no link between the subsidiaries but obviously they have to say that or it exposes the fraud that it is. The people who have the money control the system and who gets access to it and it needs to be shut down if it can't be a fair system.
There needs to be an outright ban on short selling, high frequency trading, leveraged trading and currency trading. This is a fraud that is wrecking the economy for everyone except the wealthy people who control it.
Yes, I agree short selling is betting on a company losing verse winning and I rather bet on winner than a loser. However, in this case lots of individually made lots of money on the short squeeze, the wealthy people lost in this case. Because the Hedge Fund never thought the average person figure out what they knew. Yes you could also only allow someone to buy and hold stock and then only sell at some future date. How does that help anyone. You know people who actually own GameStop stock made money lending their stocks to the hedge fund, why can't the owner of an asset loan it out to make money. Are also against people renting a room in their house or renting a home they have and is not using. Where do you draw the line and why is it okay to loan your assets and in other case you can not do it. We are all adults and allow to make our own decisions and risk assessments.
BTW, if you have any money in the market especial mutual fund you most likely are benefiting from this kind of risk mitigation activity. Yes hedge funds are about protecting for the down side of the normal market condition. Yes manipulation happens but that happens in a standard buy and sell transactions.
Renting out property isn't the same as short selling. The latter is a speculative trade aka gambling, renting is paying a value for an assessment you make at the time of the trade.
Speculative trading, high frequency trading, leveraged trading and currency trading are all fraudulent trading schemes invented for people to get rich quickly regardless of the actual value in the instruments being traded.
It impacts the non-speculative economy that affects people's livelihoods and retirement. The gambling industry isn't allowed to do this, it is heavily regulated. Speculative trading needs to be officially recognized as gambling and regulated the same way.
The fact the GameStop stock was able to be manipulated so quickly and by so much shows how unreliable it is as a measure of a company's value. When people have the capital that hedge funds do, they can do this sort of thing every day and they are doing it. There was a story recently of people manipulating prices to make millions where they fluctuated the price within the last few minutes of trading:
The economy needs to be stable and dependable for everyone using it. There can't just be groups of people manipulating it to service their own greed. There are sensible trading regulations that can keep it stable.
Comments
Exactly.
There is no crime of "stock manipulation," and there is nothing illegal about trading stock for reasons other than fundamentals. In fact, that makes up the majority of all trades.
"Individual investors" did nothing wrong aside from exercising lack of judgment in buying into this frenzy. But being stupid is not illegal, otherwise half the people who posted above would be in jail.
If the shorts start working heavily on AAPL, Apple can buyback the stock at a lower rate and drive the price into the max pain zone when the shorts expire.
But as it has become very clear in the recent times... our Judicial and legislative entities have become frauds themselves ....
Fraud has been legalized in USA., even at the highest of high levels ........and its going to be very hard to reverse!
Super sad state of affairs!
https://www.msn.com/en-us/money/companies/citadel-shoots-down-robinhood-link/ar-BB1dbAnN
https://www.prnewswire.com/news-releases/melvin-announces-2-75-billion-investment-from-citadel-and-point72--301214477.html
https://www.engadget.com/wsj-robinhood-sec-investigation-high-speed-traders-085615039.html
Robinhood uses companies like Citadel to execute trades and one of their subsidiaries bailed out Melvin Capital who the traders were trying to destroy. They claim there's no link between the subsidiaries but obviously they have to say that or it exposes the fraud that it is. The people who have the money control the system and who gets access to it and it needs to be shut down if it can't be a fair system.
There needs to be an outright ban on short selling, high frequency trading, leveraged trading and currency trading. This is a fraud that is wrecking the economy for everyone except the wealthy people who control it.
BTW, if you have any money in the market especial mutual fund you most likely are benefiting from this kind of risk mitigation activity. Yes hedge funds are about protecting for the down side of the normal market condition. Yes manipulation happens but that happens in a standard buy and sell transactions.
Speculative trading, high frequency trading, leveraged trading and currency trading are all fraudulent trading schemes invented for people to get rich quickly regardless of the actual value in the instruments being traded.
It impacts the non-speculative economy that affects people's livelihoods and retirement. The gambling industry isn't allowed to do this, it is heavily regulated. Speculative trading needs to be officially recognized as gambling and regulated the same way.
The fact the GameStop stock was able to be manipulated so quickly and by so much shows how unreliable it is as a measure of a company's value. When people have the capital that hedge funds do, they can do this sort of thing every day and they are doing it. There was a story recently of people manipulating prices to make millions where they fluctuated the price within the last few minutes of trading:
https://www.dailymail.co.uk/news/article-9087947/Essex-traders-491m-one-day-face-legal-challenge.html
https://classactionsreporter.com/vega-capital-london-manipulation-of-wti-oil-futures-contracts-class-action/
The economy needs to be stable and dependable for everyone using it. There can't just be groups of people manipulating it to service their own greed. There are sensible trading regulations that can keep it stable.