Market Talk
Yesterday we see the congressional grand standing on the Reddit , Robbinhood and Gamestop trading that has shown how the little people can sometimes ban together and equalize the playing field with short hedge funds.
I will now add my 2 cents on what I am watching. I did NOT see anybody further question Robbinhood's young ceo on why they allowed the sale of certain stocks and NOT the buying. He gave a half ass answer like it makes a person uncomfortable when they can't exit a position.
But I will say here and now I believe they did that to benefit the short hedge funds that support privately held Robbinhood. The shorts were losing huge amounts by betting on the demise of certain stocks and they LOST.
Until Robbinhood management stepped in with the crazy rule that said you can sell but not buy certain stocks on their platform!
Here is what I believe should be done. The rule should be made, if a broker/ dealer has to pause trading of a particular stock due to an imbalance of funds on one side - That broker should only be allowed to HALT all trading.
In closing, I would say to people - stay away from Robbinhood. It has a short based skunk stink to it.
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ALL in my humble opinion, scroll down and read more..This site does NOT make Buy / Sell recommendations.
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