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Posts: 160

Uh oh -- (link)

Posted by Reagen Jan 28 '21, 05:46

(No message)

https://twitter.com/jbillinson/status/1354782468721823745 (twitter.com)

Responses:

Their wikipedia page is rather humorous right now -- (edited) - oblique Jan 28, 06:02
(Dropped 140 per since this happened) -- nm - Reagen Jan 28, 06:01
Also, the later you get in this game, the bigger the chance you will be the dumbass holding the bag. (NM) - Marlowe Jan 28, 05:54 2
- Oh yeah. As soon as it becomes "a story" it's already too late in the game for me. -- nm - Reagen Jan 28, 05:56 1
  - Normally yes, but I guess getting in Friday or Monday wouldn't have been bad after all. - ty97 Jan 28, 05:56
Robinhood makes the vast majority of their money selling order flow to Wall Street. Guess they were reminded of that fact. -- nm - spamlet Jan 28, 05:51 1
- I would like to know if they were pressured into this, which in a way could be its own manipulation of sorts. - ty97 Jan 28, 05:54
bastards -- nm - decline Jan 28, 05:49
I was just about to post something similar. Is that allowed? Isn't that market manipulation? -- nm - Krusty Jan 28, 05:48 21
- Interesting question. In theory, robin hood users could just buy via a different brokerage provider - ty97 Jan 28, 05:50 7
  - Basically anyone let’s you buy fractional shares and has no commissions now. -- nm - spamlet Jan 28, 05:51 6
    - Interesting, I didn't realize that. -- nm - ty97 Jan 28, 05:55 3
      - (I'm a rather boring investor as you may have surmised) -- nm - ty97 Jan 28, 05:55 2
        
        I don't do anything crazy either, but the machinations are interesting. -- nm - Reagen Jan 28, 05:57 1
        
        oh definitely -- nm - ty97 Jan 28, 05:57
    - (We can't do this in Canada, FWIW) -- nm - Reagen Jan 28, 05:54 1
      - Well in AMERICA where we have FREEDOM you can. - spamlet Jan 28, 06:02
- Ultimately it's up to the broker what they want to offer. -- nm - Reagen Jan 28, 05:49 12
  - They're about to lose a lot of customers -- nm - Krusty Jan 28, 05:50 11
    - They make zero money from zero commissions and their order flow data is worthless as long as this goes on. -- nm - spamlet Jan 28, 05:52 10
      - They make no money on people trading stocks? -- nm - Krusty Jan 28, 05:53 9
        
        pretty much nobody makes their money that way anymore -- nm - decline Jan 28, 05:58
        
        Not directly no. - spamlet Jan 28, 05:55 3
        
        Thanks. Retail investing seems like a foolish idea for 99% of people -- nm - Krusty Jan 28, 06:02 2
        
        *ding* -- nm - spamlet Jan 28, 06:12
        
        There's a reason I tend to invest in ETFs and not individual stocks -- nm - ty97 Jan 28, 06:04
        
        That's part of why they are popular. - ty97 Jan 28, 05:55 3
        
        Interesting -- nm - Krusty Jan 28, 06:01
        
        The SEC probe is because they didn’t disclose the order flow revenue. Not that it’s illegal. - spamlet Jan 28, 05:56 1
        
        yeah, I was just pasting a copy of their revenue system from wiki -- nm - ty97 Jan 28, 05:58

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