And thus history repeats...need I say silver. (There are others.)
Anybody buying GME gap fill?
- Thread starter VEGASDESERT
- Start date
Nothing new with brokers making some tickers reduce only. I can think of dozen instances, crude futures and CFD's last spring come to mind. Brokers don't want their customers lose money fast, it makes the customers scared and never trade again.
Hogwash.
You think brokers want to make ten times their monthly income in a day on commissions and take the risk that half of the customers will be wiped out next week? Rather than make a steady stream of income with very low risks?
RH does not make money from their customers via commissions. They sell flow. The class action law suit should show that they put their customers at risk of a loss from doing what they did at the request at God knows who.
I wasn't talking about Robinhood, but brokers in general. Either way it doesn't matter how the brokerage makes their bread, they don't want customers to lose money fast. And they can still reduce their positions obviously...
ok, I guess alienating their clients is a great way to keep them lol.
The company should just issue secondary offering of 30million shares, underwritten by the hedge-fund/bank-associate that lost > 2billion on paper. Underwrite @ $50. All of a sudden they will have 30million unrestricted shares to sell to these suckers. Company reaps unexpected capital and hedgefund makes money/reduces their loss. That should be legal if what these suckers did is.