Current Events > The CEO of Robinhood looks like Kylo Ren

(+) Yeah! (+)

Surely its not a coincidence?

---

Look at that fucking scumbag

---

The face of evil.

---

Wait, why is Robinhood the bad guy now? I wasn't really following the whole Gamestop saga but I thought they are instrumental to the outcome.
---

But is he wide?

---

St0rmFury posted...

Wait, why is Robinhood the bad guy now? I wasn't really following the whole Gamestop saga but I thought they are instrumental to the outcome.

They restricted trade on Gamestop and AMC stock, preventing it from rising any higher, so they could protect the hedge funds short selling the companies.

---

Null_Mime posted...

They restricted trade on Gamestop and AMC stock, preventing it from rising any higher, so they could protect the hedge funds short selling the companies.

First of all, they weren't preventing the stock from rising since there were plenty of other retail brokers that were and still are trading GME stock, and second, they couldn't do shit to protect anyone given the overwhelming majority of shares are being traded by other hedge funds who sure as shit aren't doing their trading through robinhood.

---

Nobody even knows what any of this shit even means.

Colluding to manipulate the market is a serious offense
---

Bitch ass dweeb.

---

Frolex posted...

since there were plenty of other retail brokers that were and still are trading GME stock

terrible reasoning, on top of the fact that you're ignoring that many shut down.

---

Naysaspace posted...

which ones
because several shut down.

i know for a fact fidelity and vanguard were taking trades the last time i checked.

---

Looks like an asshole to me.

Frolex posted...

First of all, they weren't preventing the stock from rising since there were plenty of other retail brokers that were and still are trading GME stock, and second, they couldn't do shit to protect anyone given the overwhelming majority of shares are being traded by other hedge funds who sure as shit aren't doing their trading through robinhood.

Something like 50% of RH users had at least a fractional share of GME when they pulled this market manipulating bullshit. Awful argument, if RH was your main source of trading, it can take forever to get verified on a different broker and they pulled this like 2 mins before market open with no warning whatsoever.

---

PurestProdigy posted...

Something like 50% of RH users had at least a fractional share of GME when they pulled this market manipulating bullshit. Awful argument, if RH was your main source of trading, it can take forever to get verified on a different broker and they pulled this like 2 mins before market open with no warning whatsoever.

Rofl, if this was an attempt at "market manipulation" whoever the puppet masters behind robinhood are did a shit job of it since they're only proccessing a tiny fraction of the amount of GME that's being traded

---

Frolex posted...

Rofl, if this was an attempt at "market manipulation" whoever the puppet masters behind robinhood are did a shit job of it since they're only proccessing a tiny fraction of the amount of GME that's being traded

The point was to prevent new people from joining the snowball as it gained ground

---

Someone should meme his face on

Star wars episode 8 spoilers
When he told all the atat to fire on Luke and Luke didn't die and he had a freak out.

Lmao

PurestProdigy posted...

The point was to prevent new people from joining the snowball as it gained ground

If the conspiracy was to prevent new people from opening up new positions on GME, why would they be targeting people who already owned the stock on robinhood?

---

found the hedge fund manager

Frolex posted...

If the conspiracy was to prevent new people from opening up new positions on GME, why would they be targeting people who already owned the stock on robinhood?

When they first restricted trading, you couldn't buy GME whether you owned it or not. How is it not market manipulation when you can sell but you can't buy? It's a load of horseshit.

---

Ive managed to sign up to three exchanges in the last 24 hours and each time confirmation took less than an hour. Get out of there with that it can take forever to get verified on a different broker crap.

---

PurestProdigy posted...

When they first restricted trading, you couldn't buy GME whether you owned it or not. How is it not market manipulation when you can sell but you can't buy? It's a load of horseshit.

Robinhood doesn't have have to put forward collateral to execute a sell order, they do have to to execute a buy order. It's not "horseshit", you just don't understand the basics of how the market works.

---

simping for the man

---

Frolex posted...

Robinhood doesn't have have to put forward collateral to execute a sell order, they do have to to execute a buy order.

Then the excuse that they did it to "protect" their users is garbage if they're afraid of the risk to themselves. If they can't handle what was happening they shouldn't be used as an online brokerage to begin with. And this doesn't address that they did it mere moments before market open the other day and targeted specific stocks.

How much did you pay for this guy's account?

lzual posted...

Ive managed to sign up to three exchanges in the last 24 hours and each time confirmation took less than an hour. Get out of there with that it can take forever to get verified on a different broker crap.

And your funds were available for immediate trading?


---

PurestProdigy posted...

And your funds were available for immediate trading?

yes

---

lzual posted...

yes

which exchanges? I remember when I signed up for RH and WeBull this wasn't the case and they're the only ones I've used.

---

PurestProdigy posted...

Then the excuse that they did it to "protect" their users is garbage if they're afraid of the risk to themselves.

No, they absolutely did not do it to protect their users, that much is true.

PurestProdigy posted...

If they can't handle what was happening they shouldn't be used as an online brokerage to begin with.

They likely have more than enough capable to handle their normal trade volume. What is happening here is a massive influx of users investing in a stock that is massively increasing volatility and therefore incurring massively higher collateral costs.

PurestProdigy posted...

And this doesn't address that they did it mere moments before market open the other day and targeted specific stocks.

Why would they shut down trade for all other tickers instead of the handful that are currently significantly increasing in volatility?

PurestProdigy posted...

How much did you pay for this guy's account?

Hopefully a lot less than you put down on GME


---

PurestProdigy posted...

which exchanges? I remember when I signed up for RH and WeBull this wasn't the case and they're the only ones I've used.

coinbase
kraken
litebit

---

Frolex posted...

Robinhood doesn't have have to put forward collateral to execute a sell order, they do have to to execute a buy order. It's not "horseshit", you just don't understand the basics of how the market works.

The guy didn't mention once about putting collateral or any of that stuff when he was being grilled by Cuomo. You would think if he's not involved in some shady doing and got called to TV to explain to the world, he would at least explain a bit on what's going on behind the scenes and the reasoning for their decisions. But nope, just a generic "we're doing this to protect our users" which is obvious bullshit. He didn't even have a single response/rebuttal to all the stuff Cuomo threw at him.

And like you said earlier, RH is a brokerage that has more than enough capability to handle heavy trade volumes. They didn't restrict anything on other times when the stock market had high volatility, why is this a thing now? And the fact they only stopped GME from trading on the first day (not to mention SELLING them from some users account without consent), then went ahead and put out a list of other stocks with restricted trading after RH got called out.......why didn't all those stocks got restricted at the start? They were all volatile.

I duno man, not convinced they are doing it for the people,.....maybe hedge fund people yes.

---

None of this will matter soon if the rumors of putting huge tax exchange because of this event is true.

---

crayola555 posted...

The guy didn't mention once about putting collateral or any of that stuff when he was being grilled by Cuomo. You would think if he's not involved in some shady doing and got called to TV to explain to the world, he would at least explain a bit on what's going on behind the scenes and the reasoning for their decisions. But nope, just a generic "we're doing this to protect our users" which is obvious bullshit. He didn't even have a single response/rebuttal to all the stuff Cuomo threw at him.

You don't have to take my word for it if you don't want to
https://www.nytimes.com/2021/01/29/business/dealbook/robinhood-fundraise-customers.html
https://finance.yahoo.com/news/robinhood-ceo-refutes-game-stop-hedge-fund-conspiracy-theory-and-reveals-what-actually-happened-234600703.html

crayola555 posted...

They didn't restrict anything on other times when the stock market had high volatility, why is this a thing now?

This isn't just "a volatile time in the market". It's a massive increase in the IV for a handful of specific stock tickers

crayola555 posted...

And the fact they only stopped GME from trading on the first day (not to mention SELLING them from some users account without consent)

They weren't random sell offs of people's stock, they were people who were investing money they borrowed robinhood gettin margin called. if you're buying a lot of stock on margin that then becomes massively volatile, you're going to margin called regardless of whether or not you think you're "sticking it to the billionaires" or not.


---

If the GME stock was so volatile then the NYSE or SEC should have stepped in and halted all trades of the stock.

---

NinjaWarrior455 posted...

If the GME stock was so volatile then the NYSE or SEC should have stepped in and halted all trades of the stock.

lmao, and this would make people less likely to believe a conspiracy against them by the elites? Like I said, there are plenty other brokers that were and still are trading GME. Robinhood will likely join them once they secure enough capital. This stock isn't going to crash the market. The hedge funds are already raking in the billions and Melvin has already bitten the bullet and closed out their short position. The only people losing from here on out are whatever retail investors gamble and lose on being the last out the door.

---

Frolex posted...

You don't have to take my word for it if you don't want to
https://www.nytimes.com/2021/01/29/business/dealbook/robinhood-fundraise-customers.html
https://finance.yahoo.com/news/robinhood-ceo-refutes-game-stop-hedge-fund-conspiracy-theory-and-reveals-what-actually-happened-234600703.html

Actually that article on Yahoo doesn't help your point much, it may even counter your point. Accordingly RH has it's own in-house clearing system similar to other brokerages like Schwab and Ameritrade. But neither of those had any sort of restrictions only RH imposed them.

Though this also brings it back to the original question, why didn't Tenev just simply mention this in his interview? If that's really what happened inside RH, he's the CEO and he must know what happened, just explain or drop a little line about that during his interview. But no, he spends the whole time looking like he's reading some responses from a script and gave no answers and explanations when Cuomo caught him spouting lies.

This isn't just "a volatile time in the market". It's a massive increase in the IV for a handful of specific stock tickers

Ok, fair enough on this point I guess. But why start imposing restrictions on all those stocks the day after you get called out? They were all volatile, so why not start putting restrictions on the first day.

They weren't random sell offs of people's stock, they were people who were investing money they borrowed robinhood gettin margin called. if you're buying a lot of stock on margin that then becomes massively volatile, you're going to margin called regardless of whether or not you think you're "sticking it to the billionaires" or not.

Meh duno about this. Probably that is what happened I guess.

---

Frolex posted...

lmao, and this would make people less likely to believe a conspiracy against them by the elites? Like I said, there are plenty other brokers that were and still are trading GME. Robinhood will likely join them once they secure enough capital. This stock isn't going to crash the market. The hedge funds are already raking in the billions and Melvin has already bitten the bullet and closed out their short position. The only people losing from here on out are whatever retail investors gamble and lose on being the last out the door.

This made no sense at all, dude stop trying to force copped out replies

---

crayola555 posted...

Actually that article on Yahoo doesn't help your point much, it may even counter your point. Accordingly RH has it's own in-house clearing system similar to other brokerages like Schwab and Ameritrade.

They still have to go through a central clearing house

crayola555 posted...

Though this also brings it back to the original question, why didn't Tenev just simply mention this in his interview? If that's really what happened inside RH, he's the CEO and he must know what happened, just explain or drop a little line about that during his interview. But no, he spends the whole time looking like he's reading some responses from a script and gave no answers and explanations when Cuomo caught him spouting lies.

No one wants to go on TV and make themselves look broke

crayola555 posted...

Ok, fair enough on this point I guess. But why start imposing restrictions on all those stocks the day after you get called out? They were all volatile, so why not start putting restrictions one the first day.

I mean they tried upping their margin requirements first. Putting a stop on trading was a last resort.

---

crayola555 posted...

This made no sense at all, dude stop trying to force copped out replies

what did I say that was not true?

---

Robinhood can take your GME shares and sell them at will = sweet man no manipulation
Retail Investor trying utilize the free market and trade freely = douche bag

Frolex posted...

They weren't random sell offs of people's stock, they were people who were investing money they borrowed robinhood gettin margin called. if you're buying a lot of stock on margin that then becomes massively volatile, you're going to margin called regardless of whether or not you think you're "sticking it to the billionaires" or not.

Robinhood sells stop loss order information to Citadel. Citadel renewed shorts and entered a bidding war with other hedge funds to drive the price down to $111 triggering stop losses and then called in the margins during the 24h low.

If they really cared about the customer they could have called in the margins when the stock opened at $470 but that wasn't going to help Citadel get rich.

---

Tyranthraxus posted...

Robinhood sells stop loss order information to Citadel. Citadel renewed shorts and entered a bidding war with other hedge funds to drive the price down to $111 triggering stop losses and then called in the margins during the 24h low.

If they really cared about the customer they could have called in the margins when the stock opened at $470 but that wasn't going to help Citadel get rich.

Point to me where in this topic I have said Robinhood was acting to protect their customers' interest. Take your time.

---

Frolex posted...

They still have to go through a central clearing house

And? That doesn't relate to anything my post said at all. What is the point of posting?

No one wants to go on TV and make themselves look broke

Well if everyone is looking for answers from you and you have the chance to win back public trust and people's support, letting yourself go a bit would absolutely be the sensible thing to do. Unless your company is in the process of an IPO and you would rather sacrifice the public trust over appeasing your big investment firms then maybe.....

I mean they tried upping their margin requirements first. Putting a stop on trading was a last resort.

I don't have RH so I can't attest to that, though I don't see how that even helps the situation. And even so, again why do that on separate days? Was gme the only problematic stock for Thursday then the others just popped up later?

Frolex posted...

what did I say that was not true?

The first three sentences of your post I'm confused about

---

crayola555 posted...

And? That doesn't relate to anything my post said at all. What is the point of posting?

If the central clearinghouse is raising their collaterization requirements on the stock, robinhood has to front that collateral regardless of if they have their own clearninghouse or not
crayola555 posted...

Well if everyone is looking for answers from you and you have the chance to win back public trust and people's support, letting yourself go a bit would absolutely be the sensible thing to do. Unless your company is in the process of an IPO and you would rather sacrifice the public trust over appeasing your big investment firms then maybe.....

The CEO has come out publicly and said their decision was a result of clearinghouse deposit requirements.

crayola555 posted...

I don't have RH so I can't attest to that, though I don't see how that even helps the situation. And even so, again why do that on separate days? Was gme the only problematic stock for Thursday then the others just popped up later?

The fewer people Robinhood has trading on margin, the less collateral they're going to have to put up on the stocks. The problem in this case being that still didnt bring robinhood to a position where they could afford to front the cash on the trades being made.

crayola555 posted...

The first three sentences of your post I'm confused about

Robinhood didn't stop trades to "protect wall street". "Wall street" are the ones driving most of this market activity and the first place and far and away the ones who stand to make the most profit from this.

---

Frolex posted...

They likely have more than enough capable to handle their normal trade volume. What is happening here is a massive influx of users investing in a stock that is massively increasing volatility and therefore incurring massively higher collateral costs.

Cry me the biggest goddamn river. If your choices are plugging the leak which is undoubtedly a market manipulating move or going bankrupt, you shake your head, pack your bags, and go bankrupt. You do that over breaking the law.

Frolex posted...

Why would they shut down trade for all other tickers instead of the handful that are currently significantly increasing in volatility?

I've more umbrage with their timing (or honestly the fact that they did this to begin with), but again THEIR argument was that the market was volatile. But if it's a "free" market then it's allowed to be. That's never their decision to make.

lzual posted...

coinbase
kraken
litebit

I don't see anywhere you can buy stocks on these.

---

PurestProdigy posted...

Cry me the biggest goddamn river. If your choices are plugging the leak which is undoubtedly a market manipulating move or going bankrupt, you shake your head, pack your bags, and go bankrupt. You do that over breaking the law.

Well the good news here is stopping trades on individual tickers is not breaking the law :)

PurestProdigy posted...

I've more umbrage with their timing (or honestly the fact that they did this to begin with), but again THEIR argument was that the market was volatile. But if it's a "free" market then it's allowed to be. That's never their decision to make.

It in fact was their decision to make

---

Frolex posted...

If the conspiracy was to prevent new people from opening up new positions on GME, why would they be targeting people who already owned the stock on robinhood?

I mean, it's literally the reason why they started limiting people to only being able to buy 1 share of GME. The people that already racked up shares wouldn't be affected nearly as much.

---

Frolex posted...

Well the good news here is stopping trades on individual tickers is not breaking the law

If this isn't market manipulation then anything goes from here on out.

---

RchHomieQuanChi posted...

I mean, it's literally the reason why they started limiting people to only being able to buy 1 share of GME. The people that already racked up shares wouldn't be affected nearly as much.

The conspiracy part isn't that Robinhood wanted mitigate the number of people opening new positions on GME. The conspiracy is that they did it at the behest of their shadowy wall street masters because all the hedge funds of the world would go bankrupt if they didn't

---

PurestProdigy posted...

If this isn't market manipulation then anything goes from here on out.

I like how the narrative on this has gone from "We're showing wall street what happens when you overleverage yourselves" to "Robinhood should have instead intentionally overleveraged themselves into insolvency which was the responsible thing to do"

---

Frolex posted...

I like how the narrative on this has gone from "We're showing wall street what happens when you overleverage yourselves" to "Robinhood should have instead intentionally overleveraged themselves into insolvency which was the responsible thing to do"

I was watching from the sidelines until I went to buy some AMC the other morning. I had no investment emotional or otherwise in this situation until this nonsense was pulled.

---