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One nasty side effect of @RobinhoodApp rigging the markets to block retail investors from accessing their stocks: a flood of small investors are rushing to trade with apps controlled by...China. https://www.bloomberg.com/news/articles/2020-12-08/robinhood-is-losing-thousands-of-day-traders-to-china-owned-webull
Popular institutional funds offered as 401(k) retirement vehicles that include speculative $GME and $AMC exposure include:
VSEQX - Vanguard Strategic Equity
ESPAX - Wells Fargo Small Cap Value
NMSAX - Columbia Small Cap
FCFMX - Fidelity Total Market
TISBX - TIAA Social Choice https://twitter.com/KyleOrl/status/1354831962549219334
VSEQX - Vanguard Strategic Equity
ESPAX - Wells Fargo Small Cap Value
NMSAX - Columbia Small Cap
FCFMX - Fidelity Total Market
TISBX - TIAA Social Choice https://twitter.com/KyleOrl/status/1354831962549219334
Busy day over at the @RobinhoodApp HQ. https://twitter.com/LJMoynihan/status/1354836830169006081
If you're shocked at how bad hedge fund billionaires are at public relations, it's because they've been so powerful for so long that they have no use for media savvy. The WallstreetBets $GME fiasco has driven them to breaking. https://twitter.com/jangelooff/status/1354846320494784515
The Wall Street lockstep to protect institutional clients by explicitly locking out retail investors is by far the most brazen, public act of market rigging America has seen in years. Congress must investigate. https://twitter.com/public/status/1354826467184578571?s=19
Trading platforms and clearing houses *never* froze institutional investor accounts when hedge funds were stripping value from companies and tossing employees out on the street.
They banned $AMC $GME trading because retail investors were hurting the wrong people.
They banned $AMC $GME trading because retail investors were hurting the wrong people.
Democratic Rep. @RoKhanna joins the growing bipartisan condemnation of trading platforms like @RobinhoodApp, which locked retail investors out of their $GME $AMC $NOK $BB positions while allowing hedge funds to gorge at the trough. https://www.businessinsider.com/ro-khanna-slams-robinhood-trading-restriction-reddit-traders-amc-gamestop-2021-1
Reaching out to @RobinhoodApp for confirmation that they appear to be selling retail investors' shares in $GME whether they want to sell or not.
If you're a part of WallstreetBets and you've experienced this, let me know in the comments. https://twitter.com/ArkhonDH/status/1354834763245359111
If you're a part of WallstreetBets and you've experienced this, let me know in the comments. https://twitter.com/ArkhonDH/status/1354834763245359111
Wow, @RobinhoodApp does in fact seem to be closing out $GME positions on behalf of retail investors, arguing it's for their own good.
Never seen folks *forced* to sell their stock to protect a hedge fund before. Absolutely wild. https://twitter.com/555Sunny/status/1354854993946406917
Never seen folks *forced* to sell their stock to protect a hedge fund before. Absolutely wild. https://twitter.com/555Sunny/status/1354854993946406917
To clarify: I've reached out to several individuals whose accounts have had $GME force-sold, and only about half of the folks I spoke to were trading on margin accounts--so the margin call argument (a justified reason for RH to force-sell) doesn't hold up for every case.
At this point even if what @RobinhoodApp is doing with force-sells of $GME is *technically* legal due to the terms of their user agreement, they've torched any trust with their user base. Who would put money into a trading platform they don't trust?
Don't misread what the White House is saying here. Biden is likely keeping quiet because legislators like @AOC and @tedcruz are already moving to hold hearings in the House and Senate. Biden isn't one to commentate until he's ready to act. https://twitter.com/alexsalvinews/status/1354878671635406849
Wall Street executives are divorced from reality to a level that is beyond parody. I'm surprised they didn't call the $GME fight their personal 9/11. https://twitter.com/Velokx/status/1354556737030746114
Sen. Elizabeth Warren is stepping up now to condemn @RobinhoodApp and the arbitration agreement that allows them wide latitude over traders' cash and stocks. https://twitter.com/therecount/status/1354891756735754243
Found a great short selling target: https://www.pymnts.com/news/ipo/2021/robinhood-may-sell-shares-directly-to-users/
Congratulations WallstreetBets, Sen. Sharrod Brown commits to a formal Senate inquiry into this week's crazy $GME movement and anti-retail investor market manipulation by trading platforms. https://twitter.com/ddayen/status/1354887002525585409
UPDATE: @RobinhoodApp announced they will allow "limited" action around stocks like $GME and $AMC tomorrow, but hasn't outlined what that "limited" action means. https://twitter.com/Street_Insider/status/1354901677007122433
Given that I've eaten neither breakfast nor lunch today I'm going to take a brief break from $GME-gate and go have a tamale or something.
