I get the whole anger at robinhood and the stock market, I really do.

But on the other hand - what did you expect? A bunch of people on Reddit could *genuinely* cause hedge funds to lose billions without them pulling strings to fight back?! They don't care if it's illegal or immoral. They know the worst they'll get is a fine that's way, way less than they stand to make.

Don't get me wrong, the anger here is justified completely. The surprise however, that's really not.

I'm just enjoying the schadenfreude.

They might be the same people thinking that companies care about their users or that the "free market" is always right.

Who's surprised, though?

Robin hood unwilling to admit that they don't have enough money in the bank to cover for the purchases of their customers and being OK with everybody assuming that they are manipulating the market is pure PR gold.
Just say that you have no money, it does not look that bad to the target audience.

But shorting over 120% of all gme stocks in existence was definitely a big gamble by the hedge fund managers and one they did with other peoples money, possibly pensions.

AMC TO THE MOON 💎🙌🚀🚀

I’m already infected

Well, if a company is named "robinhood", you certainly know it is full of shit. It is like calling a webscraping bot toolkit "Selenium", or your company "Intel" (but "Apple" is even worse).

Land of the braggy, land of the arrogant.

@p100sch Why does robinhood have to have money in the bank for people to buy stocks with their own money on the platform?

@homo-lorens Clearing houses need to put up securities while the transfer is settled. Usually very low deposits that the market maker (over 90% handled and governed by one almost monopolistic company) requires, rose about 10 times on the stock in question leaving Robinhood, which does maintain its on clearing house, and their partners unable to make more trades on said stock.

On the 29.01.21 they did admit to being short on cash but way too late for anybody to buy that explanation.

@homo-lorens

There are legal regulations for banking houses to cover a fair amount of their business (trading) volume.
This is to counter professional fraud and blatant failure.

If any market participant chooses to overdraft any of their securities, that's completely on one's own risk.
If the highly volatile market now swings to other market participants advantage, that's called market dynamics.

The very definition of a free market is : price meets demand.
And that's what's going on right now.
But this time, it's not the large already organised and wealthy ones that give the course. It is the market himself.

Now these ivory high tower cry baby's get some of their own medicine they had engineered over centuries, they start to cry out?
I don't pitty cocaine snorting 'big wigs' for loosing to their own morbid game draining retirees of their savings.

The age of the old banking is over. Get on with it or open a physical bank counter to see where the 21st century's heart beats.

@AlmondSauce

In the first place, there ought not to be such thing as an illegal activity on a free market.

Next, these 'unorganised revolting' individuals (primarily redditors) decided to participate on their own risk.
Just not as organised as the establishment securing themselves up as much as possible, thus draining the weak on the market.
Retirees for example, who have no idea of finance and banking or stocks, thus being fucked over the very moment they want to bail out. Broad and general practice with hedge funds.

Now these squeezes have developed into an accepted back room agreement on the bet that a stock will fail. Thus, instead of simply buying or selling stocks and trades, in this method, a fictional transaction had been virtually defined that in its very foundations is harmful to the stock and customers in the 'normal' market.

Which would be very defined as :
A market is, where price meets demand.
(thus a deal is made at such conditions)

And only buying or selling things, not pretending to or fooling investors into false prices or values.

Now tell me please, who is bringing whom to fail in an economy?
As if these companies or 'traders' had any interest into bailing out retirees and lowly organised or educated end consumers.

@AlmondSauce
And I did understand your post wrong.
This just gets me agitated =D
Have my ++, dear AlmondSauce ;)