Robinhood restricts trading in GameStop, other names involved in frenzy

[Morphine Prince 109,682]

 

[RudraCNG 15,510]

This only proves how rotten the system is. Only rich people is allowed to become richer. Even when they were the ones with the bad behaviour, literally betting on companies to ruin them.

[StarstruckIllusion 53,565]

11 minutes ago, AJRocketMan said:

Now would be a good time to reinstate the Glass-Steagall Act 

Why I think this was always called the Glassed Eagle 🦅 act 😭

[Phaye Monster 8,805]

I know so little about Wall Street & the stock market

but

i can’t believe all of this is happening because of Reddit

[JusKeepBreathin 19,311]

3 hours ago, Morphine Prince said:

Nope. They are free to buy whatever they want. 

They are mad because these hedge funds have lost them billions. 

Robinhood and other apps are under pressure by these investors to restrict OUR access to stocks. Free market my ass. 

Rich people commit insider trading every single day and absolutely NOTHING is done about it. 

In fact, they have remain US SENATORS (Kelly Laufleur from Georgia) 

Robinhood gives out a free stock by joining it's service through invite. That's how many people got the gamestop stock. Why do you think Robinhood is even mentioned here? 

[RahrahWitch 6,985]

This is wild.

I don't know much but from what I can there was no issue when the rich where short selling in mass to make money but as soon as some regular people group together to play the same game It's an issue? 

[JusKeepBreathin 19,311]

3 hours ago, LaLa said:

Here's a quick explainer

 

So, this is not illegal. Most of us borrow our home loans. The price of the property goes up and we make a profit when we sell the home and pay the loan back. What the people on Reddit did was condemn the home and made it worthless giving the borrower a loss.  

[FATCAT 60,888]

3 hours ago, dnzr said:

I'm so mad i wanted to buy at $125 but it was down AAAAAAAAAAAAAAAAAAA

I wanna get some AMC stock, but I'm worried that there's a risk that these investment companies (like Robinhood) will end up shafting me even if the market doesn't. Like I might genuinely want to buy AMC before they re-open to the masses post-covid, but no, hedgehogs gonna hog.

[Economy 52,859]

4 hours ago, littlepotter said:

Don't we love to see wall street in shambles 

Its mostly amateur average joes getting burned with this not the rich in case thats what ur thinking

[FATCAT 60,888]

29 minutes ago, RudraCNG said:

This only proves how rotten the system is. Only rich people is allowed to become richer. Even when they were the ones with the bad behaviour, literally betting on companies to ruin them.

Not even, the system isn't rotten, it's clean and cut. We just happen to be the ones they've surgically cut out of it. 

We need to tax the hell out of these mother****ers. I believe in strong markets, but we need social saftey-nets to compliment capitalism. 

[Guest]

Rules are meant to be followed, and they followed it, and if you lose, you lose 

[littlepotter 76,612]

5 hours ago, littlepotter said:

Don't we love to see wall street in shambles 

Don't we love to see capitalists in shambles trying to defend this  

[MJHolland 12,725]

A little ironic coming from a broker named "Robinhood" lol

5 hours ago, FATCAT said:

It was because people were buying it very quickly, the price goes up when there's demand. 

It's a lil more complicated than that but yeah. Hedge funds do this all the time to each other so I find it bizarre that a user here liked Redditors to capitol insurrectionists  nothing nefarious is happening 

[MJHolland 12,725]

1 hour ago, FATCAT said:

Not even, the system isn't rotten, it's clean and cut. We just happen to be the ones they've surgically cut out of it. 

We need to tax the hell out of these mother****ers. I believe in strong markets, but we need social saftey-nets to compliment capitalism. 

Nooooo the financial system is anything BUT clean cut lmao. 

Futures, derivatives, short positions, swaps.... all of these are are far cry from "clean and cut" and they involved very recent "financial innovations" (as my professors would call them lol) that create money out of thin air. The sh*t the do on wall street gets so murky and confusing that even the head honchos that created these new financial assets lost track of them (e.g. mortgage-backed derivatives and tranches got so tangled and mind-blowingly complex that wall street caused the largest recession in living history).  

Wall street takes the money you put in the bank and gambles with it with derivatives without even having to put assets behind it. Just think about that 

[MJHolland 12,725]

1 hour ago, Economy said:

Its mostly amateur average joes getting burned with this not the rich in case thats what ur thinking

How? The gamestop thing is really only impacting 2 hedge funds (one main one) who will have to close on their position sooner or later and return the system to normal??