- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
RobinHood has begun to automatically sell GME shares of some customers “for own good”
Posted on 1/28/21 at 1:47 pm
Posted on 1/28/21 at 1:47 pm
quote:
Disclose.tv
@disclosetv
JUST IN - #Robinhood app has reportedly begun to automatically sell shares of $GME for some customers, "for their own good.
LINK
quote:
Max Burns
@themaxburns
In case you aren't following the Reddit/WallstreetBets/$GME stock market madness,
@RobinhoodApp
is now selling off many Redditors' shares *whether they want to sell them or not.*
quote:
Max Burns
@themaxburns
Wow,
@RobinhoodApp
does in fact seem to be closing out $GME positions on behalf of retail investors, arguing it's for their own good.
quote:
Never seen folks *forced* to sell their stock to protect a hedge fund before. Absolutely wild.
This post was edited on 1/28/21 at 1:48 pm
26
Posted on 1/28/21 at 1:48 pm to HailHailtoMichigan!
Yeah, if there weren’t a class action before, there would be now.
By forcing a sale, it can be argued that RH is both manipulating the total stock price as well as intentionally depressing the amount their investors get for the stock by determining when to make the trades.
By forcing a sale, it can be argued that RH is both manipulating the total stock price as well as intentionally depressing the amount their investors get for the stock by determining when to make the trades.
Posted on 1/28/21 at 1:49 pm to HailHailtoMichigan!
Posted on 1/28/21 at 1:49 pm to HailHailtoMichigan!
Is that legal?
Posted on 1/28/21 at 1:49 pm to HailHailtoMichigan!
This has to end with people going to jail.
Posted on 1/28/21 at 1:50 pm to HailHailtoMichigan!
Posted on 1/28/21 at 1:50 pm to Wildcat1996
quote:
Is that legal?
i'd wager there's a box RH users checked on the TOS that does, but i would love for there not to be.
Posted on 1/28/21 at 1:51 pm to 3nOut
quote:
i'd wager there's a box RH users checked on the TOS that does, but i would love for there not to be.
Even if that’s the case RH will cease to exist. There is no way back for them after today.
Posted on 1/28/21 at 1:51 pm to Seldom Seen
The absolute state of Robin Hood stealing from the poor to give to the rich
Posted on 1/28/21 at 1:53 pm to Seldom Seen
I'm guessing Robinhood won't be around very long after this ordeal
I know I would pull all of my money out.
I know I would pull all of my money out.
Posted on 1/28/21 at 1:53 pm to 3nOut
quote:
i'd wager there's a box RH users checked on the TOS that does, but i would love for there not to be.
That’s not going to save them.
The courts may save them to save the rich. But the terms and conditions aren’t.
Posted on 1/28/21 at 1:54 pm to the808bass
Anyone still thing we’re nowhere near civil war?
Posted on 1/28/21 at 1:54 pm to Seldom Seen
Holy shite 
Posted on 1/28/21 at 1:55 pm to HailHailtoMichigan!
No way that can be legal
This post was edited on 1/28/21 at 2:17 pm
Posted on 1/28/21 at 1:55 pm to the808bass
quote:
That’s not going to save them.
The courts may save them to save the rich. But the terms and conditions aren’t.
right. they're screwed with the customer base after the last two days. but it may save them in the court of law is all i meant.
Posted on 1/28/21 at 1:55 pm to Seldom Seen
The $118 is the low for the day too, it bounced back to around $250 after dropping to $118.
Posted on 1/28/21 at 1:55 pm to the808bass
quote:
Anyone still thing we’re nowhere near civil war?
This isn’t right vs left. This is elite vs working class/poor.
Posted on 1/28/21 at 1:55 pm to HailHailtoMichigan!
I’m also hearing that Citadel did a new round of shorts today and coordinated that with when Robinhood blocked trades of their shares, which is when the price spiked to about $450 then dropped to $250.
And yet WSB is the only group to have the SEC bitching at them.
And yet WSB is the only group to have the SEC bitching at them.
Posted on 1/28/21 at 1:56 pm to 3nOut
quote:
but it may save them in the court of law is all i meant.
It shouldn’t. Putting a “we might frick you sideways while you sleep” clause in a trading app TOS shouldn’t automatically absolve them of liability in this.
Posted on 1/28/21 at 1:56 pm to 3nOut
Criminal court, yes.
You think civil court will side with a bunch of assholes who fricked over Joe Public to save a hedge fund?
You think civil court will side with a bunch of assholes who fricked over Joe Public to save a hedge fund?
Page 1 of 8
Popular
Back to top
Follow TigerDroppings for LSU Football News