Citadel is an investor in Melvin Capital. Citadel is also Robinhood's biggest customer. But yeah it's definitely the little guy they're trying to protect.

If people just buy and hold. Stock price xouldngonfrom 1k to 5k to 10k!

When you deposit your money into a platform such as Robin Hood, no one goes in thinking they are going to be FORCED to move positions in a way that the company sees fit..pretty fucking gross tbh

It's an extremely slippery slope and society continues to give up one inch at a time and the establishment keeps taking a mile. I understand how this whole GME thing could be seen as stock manipulation, but why is the establishment only addressing it from one perspective? (Rhetorical question, the answer is obvious). To your point about moving to another platform. Isn't that what they said about Parler? But that got blocked from all app stores.
I understand how you can rationalize this, given that it's a private app or service (just like the other brokerages that are preventing people from buying). But this is something much larger than a restaurant restricting someone from seating someone without shoes or a shirt.
The more we rationalize moments like this, the more normalized it becomes.

This isn't restricted to Robinhood. There are many other platforms that have restricted users from buying these WSB stocks.

I always believed that our economy is rules-based free market and not a complete free market. I think you and I can both agree that smaller guys would have zero chance of survival in a true free market. Rules also have to adapt to the changes in our market. I would rather support more regulations against the institutional players to make the playing field more level as opposed to the stance of: hey you let the big guys do a,b,c so let us retail investors do x,y,z.

And I get where you're coming from about the market crash and the bailout during 08-09. I also agree that the banks didn't pay a full price for screwing over the taxpayers. But the business of subprime lending and commercialization of mortgage-backed securities back then really has nothing to do with the business of retail brokerage which we are talking about right now. There was nothing that Robinhood could have done to prevent those activities from occurring even if they existed back then. Maybe you are using the term banking system loosely, and some like to think of the finance industry as a giant homogenous blob of establishment. But in reality there is a full spectrum and factions to the capital markets and its not just establishment looking out for another establishment. In fact, it would be practically hard to define which market participant is an establishment and who is not.

i'll try to write this so it makes sense:

now that the price on these stock has been manipulated so much, would these funds that were shorting them have used this lowered price opportunity to cover their shorts therefore reducing the whole "fuck the shorts" game?

hopefully someone understands what i'm trying to say

4Head

I get what you're saying... and yes it would be quite mastermindish for them to lose billions on their shorts, then create a buying limitation to induce another short to profit off a new set of shorts and cover their losses while making everyone who caused their pain lose all their money... and then to claim that they did it in the interest of protecting the public from losses.

It would be beautiful if it wasn't so corrupt.

Does anyone think it's going to lose like crazy today and tomorrow... but as people spend today and the weekend opening up accounts on new platforms that aren't currently corrupted it will resume on Monday?

i think its just gonna barely hold on today and tomorrow we might see some activity. if it survives till monday then things will get very interesting!

https://www.reddit.com/r/ClassAction...r_information/

i know it's not proven but:

"I work for Robinhood. Don't kill me.

Low-level, technical shit, comp sciences major, not finance side.

Guess what we overhead today?

Vladimir, yes founder Vladimir, and the C-Suite, received calls from Sequoia Capital and the White House that pressured into closing trading on GME etc. I guarantee you the same took place at E-Trade and the others who closed trading.

File reports on the SEC page. If I wasn't scared to be out of work in a pandemic I'd quit. I'm disgusted. We all need to rise up, this is as bad as it gets when we talk about how the rich get one set of rules, and the rest of us get screwed �� over, and over, and over again left to bail them out and pick up the tab for their trillion dollar tax breaks. We need to pile pressure on every government and financial institution involved in this travesty of justice.

I'm taking a massive career risk even posting here but fuck these motherfuckers."

If that is real, it will be wild but its way too hard to believe... For a company that has over 1000 employees, the founder takes important phone calls from the White House in such a way that the "low level tech staff" can overhear the dialogue? The founder can't even close the door so that a low level tech can't overhear? and by White House, is he implying Biden is now involved?
Not saying it can't happen but lol...

https://twitter.com/justinkan/status...3920762253315?

Latest explanation from Chamath:

https://twitter.com/chamath/status/1...523997697?s=20

I agree that there is a conflict of interest since Citadel is a client of Robinhood for their data but the presence of that conflict of interest alone isn't an evidence that Robinhood colluded with Citadel. I'd be interested to see if there are any tangible evidence. Perhaps an investigation from SEC or congress is the only way to get to the bottom of it.

GME down to $230 ... a loss of $117. if you shorted from yesterday to today, you could also be a millionaire. Either way, people win.

GME $260 after hours

Congress might be looking into this

Robinhood is going to be turned into a scapegoat while the people behind the scenes will likely get away again. I hope this doesn't happen but I don't like the narrative that Robinhood is the primary culprit in all of this. They need to be punished since they're the intermediary, but the ones pulling the strings behind the scenes are the ones that truly need to be brought to justice.

The corruption is going to backfire on them now that people can buy again KEKW

They just incentivized people to go all in on this. Like ACTUALLY all in

I got caught up in the hype and bought a bunch at market opening, when it was high, then watched my portfolio crumble all day. I'm down about 30% at market close. Here's hoping for tomorrow to recover some of it. TO THE MOON LOL

https://twitter.com/vladtenev/status...979530241?s=20

Be cautious. Robinhood (and others, i'm sure) will only allow "limited" trading. It's just a PR stunt but we all know what that means after today.

My GME play already went 400% and I pull out yesterday. After the fuckery they did today.

I'm going back in tomorrow. Don't care about the gains, what they are doing is bullshit.

This is the real occupy wall street movement.

Honestly all it takes is for everyone of us to pitch in and buy one share and disable lending.

You're not alone. Took my profits from one of my other stocks and boarded the hype train bright and early. Profits are gone. I went in eyes open though, knowing that risk was there so I'm not too upset about it. No risk no reward.