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re: Holding AMC Thread- Diamond hands unite
Posted on 6/13/21 at 12:24 pm to greygoose
Posted on 6/13/21 at 12:24 pm to greygoose
quote:
Especially considering that RH's major source of revenue was from institutions like Citadel who had extremely and substantial losses if people continued to have the ability to buy. Did you also forget that Vlad gave different excuses on different days, during the outcry? He finally settled on the "capital requirements" excuse.
Robinhood nearly failed. Plain and simple. The fact they tried to hide it isn’t surprising. Drew down their credit lines and raised a billion in additional investments in order to keep the doors open. You don’t do that if it’s simply a matter of Citadel putting pressure on you.
Your point about the conflicts of interest that exist is sound, but this was essentially an administrative issue. You like to talk about the DTCC, and this was that. The alternative could/would have been far worse for retail traders.
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