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#6886 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
Casino cash: $-1391756
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Even if their TOS negate any potential lawsuits it feels like brand suicide. Seems other platforms halted buying temporary or set limitations but RH went all in. Add in the known connection to some of the players in this and they're taking the heat.
But I'm sure there's an investor class out there that isn't even paying attention to this or may not even care or want to pay their $75 transfer fee. |
Posts: 36,844
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#6887 |
Veteran
Join Date: Dec 2006
Location: Indiana
Casino cash: $9372813
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Posts: 4,440
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#6888 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
Casino cash: $-1391756
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Quoting an email received from RH
"It’s been a tough day, and we’re grateful to you for being a Robinhood customer. In light of the extraordinary market conditions this week, we temporarily limited buying for certain securities this morning. Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and may make adjustments as needed. This was a temporary decision made to best continue serving you, and was not an easy one to make. We know it’s led to frustration and confusion, and wanted to provide some clarity. As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today. To be clear, this decision was not made on the direction of any market maker we route to or other market participants. The past year in particular has shown us that the financial markets are for everyone—not just institutional investors and hedge funds. We’ve seen a new generation enter the market, and they’re sparking conversations about what it means to be an investor. We stand in support of you, our customers. Democratizing finance for all means giving more people access, not less. We’ll keep monitoring market conditions and will update this Help Center article with the latest changes. We also published a blog post regarding today’s events. Thank you again for being a Robinhood customer. We’re so grateful for your support. Sincerely, The Robinhood Team" |
Posts: 36,844
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#6889 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $-1653101
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Heh. I'm sure that will appease the angry mob.
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Posts: 53,118
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#6890 | |
The Seated Villain
Join Date: Apr 2007
Location: Seattle
Casino cash: $560247
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Quote:
![]() Well, Robinhood claims it, so it must be true!
__________________
With a sack in 61% of his games, SB MVP Von Miller is the most consistent pass rusher in NFL history. |
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Posts: 10,753
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#6891 | |
TACO SALAD
Join Date: Apr 2008
Location: yes
Casino cash: $-1871532
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Quote:
Also, from what I know, Robinhood makes it's money off getting people to trade and selling margin so they've gone out of their way to encourage some of this behavior. I'd be shocked if their subset of traders in these trades wasn't quite a bit larger. I didn't see any "Vanguard cuts off trading of GME" headlines the last few days but they've went out of their way to sculpt a more buy and hold investor mentality. |
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Posts: 7,043
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#6892 |
MVP
Join Date: Jan 2007
Location: Missouri
Casino cash: $-1717750
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This is insane. RH can go suck a fat one.
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Posts: 9,013
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#6893 | |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $-1429523
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Quote:
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Posts: 40,646
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#6894 | ||
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $-1365266
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Quote:
![]() This made me laugh. But also a bad look for RH. Quote:
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Posts: 59,931
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#6895 |
MVP
Join Date: Sep 2019
Casino cash: $2610400
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Anyone have a way to get around the $75 Robinhood account transfer fee?
__________________
"although there is evidence of potential violations regarding the handling of classified information, no reasonable prosecutor would bring such a case" - James Comey |
Posts: 17,803
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#6896 | |
The Seated Villain
Join Date: Apr 2007
Location: Seattle
Casino cash: $560247
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Quote:
__________________
With a sack in 61% of his games, SB MVP Von Miller is the most consistent pass rusher in NFL history. |
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Posts: 10,753
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#6897 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $-710000
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This is the beginning of the end of the bull market.
Seen this silly shit too many times before a crash. I'm betting 20-25% drop very soon.
__________________
"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
Posts: 54,916
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#6898 |
In Search of a Life
Join Date: Aug 2005
Casino cash: $7327995
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Posts: 43,200
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#6899 |
Greatest QB Duo of 2015
Join Date: Mar 2010
Casino cash: $1071023
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Alright, so last month I had Doge at $.005 and 28K coins then sold.
Bought back today with $200 and am up $450+. Pray for me. |
Posts: 17,508
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#6900 |
2 Legit 2 Colquitt
Join Date: Sep 2010
Casino cash: $2375754
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Looks like Robinhood is allowing GME buy orders again?
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Posts: 4,881
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