Stocks & InvestmentsJan 29, 2021
Credit Karmatendiessss
Robinhood liquidity crisis ...?
I get the hate on Robinhood with shutting down GME. But restricting 50 stocks ? 1B injection last night? Is Robinhood gonna implode or something ... https://www.cnbc.com/2021/01/29/robinhood-is-still-severely-limiting-trading-gamestop-holders-can-only-buy-one-additional-share.html
Robinhood is still severely limiting trading, GameStop holders can only buy one additional share
CNBC
🤔 Perhaps it’s time I move my cash out.....
Good luck doing that. People have complained that the money is taking longer than usual to settle and can't be pulled out.
Won't implode. A competitor or fund would bail them out.
Delete Robinhood, I have zero reason to use this app now that all my investments are restricted. I literally have no use for the app as of this afternoon. WeBull and others are better and aren’t pulling this shit (as much)
this has also woken me up to the reality that SV startups are not really much different than traditional companies except they happen to be in an industry with lower costs and higher revenues meaning they can pay more. i think its amusing that so much of Blind thinks all the “smart” engineers are only at FAANG when in reality correlation is not causation. RH ive heard is notoriously elitist in hiring ex-FAANG and top school grads yet cant even manage to keep an online brokerage(not new or revolutionary) running properly during crisis. and no, not just this week...the amount of times their systems have crashed or executed trades too slow during normal trading weeks is hilarious. guess a bunch of “dumb” engineers at Fidelity, TDA, etc have figured out how to scale and build resiliency for volatile periods without any elite pedigree or “prestigious” brands.