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Started By
Message
re: RobinHood has begun to automatically sell GME shares of some customers “for own good”
Posted on 1/28/21 at 2:40 pm to 3nOut
Posted on 1/28/21 at 2:40 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.
One Twitter commentor mention that if users are at margin that RH can do this legally according to their TOS.
Posted on 1/28/21 at 2:40 pm to Seldom Seen
What risk is RH exposed to brokering this guys position?
His brokerage fees? Is RH worried they won’t get paid?
His brokerage fees? Is RH worried they won’t get paid?
Posted on 1/28/21 at 2:41 pm to tketaco
quote:
One Twitter commentor mention that if users are at margin that RH can do this legally according to their TOS.
Does their TOS trump security regulations?
Posted on 1/28/21 at 2:41 pm to HailHailtoMichigan!
I just read through the fine print of the user agreement that everybody just scrolls through and accepts....
Now, you can get into undefined languages like "protection" and "business judgement" and argue that RH's protection sells were manipulated by damages caused from RH's actions but that starts to get into a depth beyond me
quote:
I understand and agree that whenever it is necessary for Robinhood's protection or to satisfy a margin call, deficiency, debit or other obligation owed to Robinhood, Robinhood may (but is not required to) sell, assign and deliver all or any part of the securities in My Account, or close any or all transactions in My Account. I understand that Robinhood may, but is not obligated to, attempt to contact Me before taking any such action. I understand and agree that Robinhood reserves the right to take any such action without prior notice or demand for additional collateral, and free of any right of redemption, and that any prior demand, call or notice will not be considered a waiver of our right to sell or buy without demand, call or notice. I further understand that Robinhood may choose which securities to buy or sell, which transactions to close, and the sequence and timing of liquidation, and may take such actions on whatever exchange or market and in whatever manner (including public auction or private sale) that Robinhood chooses in the exercise of its business judgment. I agree not to hold Robinhood liable for the choice of which securities to buy or sell or of which transactions to close or for the timing or manner of the liquidation. I also agree not to hold Robinhood liable for taking such action
Now, you can get into undefined languages like "protection" and "business judgement" and argue that RH's protection sells were manipulated by damages caused from RH's actions but that starts to get into a depth beyond me
This post was edited on 1/28/21 at 2:46 pm
Posted on 1/28/21 at 2:43 pm to AUX3
quote:
Be funny if Trump was still able to Tweet. I suspect it would be something like...I told you so...
It would be glorious! I wish Trump would put out a statement affirming he is in the little guys corner and then call out the Biden administration but if he did everyone would then switch to the Hedge fund side.
Posted on 1/28/21 at 2:43 pm to Chillini
quote:
This has to end with people going to jail.
They can be cellmates with the Russian Hoaxers
Posted on 1/28/21 at 2:43 pm to Lsuhoohoo
It may be in the TOS but try defending that in court.
If RH wrote those clauses in there but didn’t give up any concessions to the user in return, those clauses are void.
If RH wrote those clauses in there but didn’t give up any concessions to the user in return, those clauses are void.
Posted on 1/28/21 at 2:44 pm to Lsuhoohoo
quote:
Robinhood's protection or to satisfy a margin call, deficiency, debit or other obligation owed to Robinhood
I’m not sure this applies in this situation.
Posted on 1/28/21 at 2:46 pm to Chewbacha
quote:
nothing screams working class/poor like 4500 shares at an average of $118.00 (531000.00).
It was $4/share less than a year ago.
Besides, Uncle Sam just gave that poor a minimum of $1800 since then.
Posted on 1/28/21 at 2:47 pm to the808bass
quote:
Anyone still thing we’re nowhere near civil war?
It's undeniable, the Dim Marxists are goading conservatives into a violent confrontation.
Posted on 1/28/21 at 2:48 pm to the808bass
Current theory on a lot of the RH mess is that RH and Citadel basically committed fraud with the expectation that paying fines on their actions would be less ruinous than having to cover their shorts if things continued.
Posted on 1/28/21 at 3:08 pm to teke184
If the Whitehouse is involved, this is an impeachable offense.
Posted on 1/28/21 at 3:08 pm to teke184
Webull is allowing trading of GME & AMC again
If they're letting it move again, then the fix is absolutely in to protect Wall Street, by Yellin and the WH criminal gang. How dare the people deign to defy the hedge fund critters' wishes?
Who'd have thought it would take less than a week for the lib filth to come out of the woodwork defending the Wolves of Wall Street?
If they're letting it move again, then the fix is absolutely in to protect Wall Street, by Yellin and the WH criminal gang. How dare the people deign to defy the hedge fund critters' wishes?
Who'd have thought it would take less than a week for the lib filth to come out of the woodwork defending the Wolves of Wall Street?
Posted on 1/28/21 at 3:11 pm to Cossatotjoe
Lol, like they will impeach or remove Joe.
More likely the NG decides to “protect” the government a lot closer.
More likely the NG decides to “protect” the government a lot closer.
Posted on 1/28/21 at 3:12 pm to VoxDawg
Oddly, my Fidelity App isn't allowing any trades at this time. When you navigate to the page it simply isn't there.
Posted on 1/28/21 at 3:13 pm to HailHailtoMichigan!
They're going to frick those people out of their money and nothing is going to happen to them for it either. We're living in a two tiered nation and I'm not sure there is a non-violent way out of it. The bad guys have control of all the institutions and their crooked as frick. It's disheartening to say the least
Posted on 1/28/21 at 3:14 pm to Wildcat1996
quote:
Oddly
It's not a bug, it's a feature.
Posted on 1/28/21 at 3:17 pm to Prominentwon
quote:
So what happens with GameStop, the company as a whole, from here?
they're still going to go under eventually because of downloadable games, but this is going to let corporate pay off debt and probably have a more organized closure.
Posted on 1/28/21 at 3:20 pm to Tbonepatron
He made that up himself.
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