Robinhood/GameStop Hearings

[El OchoCinco]

If its free then You are the product.

Why would certain unnamed hedgies on Dearborn Ave. want to buy a bunch of piker orderflow?

Because they front-run and B-book the shit out of them. They have 599 SEC violations on the books for front-running. Don't be so naïve.

Fully disclosed and custoemrs are getting free commission to buy and hold a stock which is the purpose. Who cares if you get the stock $0.05 higher price, you didn't pay a commission. If they were doing something illegal they would have been shut down years ago.

If you buy 150 shares and pay 5 cents a share higher price it "costs" you $7.50. If you are long term buy and hold then what is the difference if you got to accumulate stocks over time and pay almost nothing to do so.

Paying for order flow is LEGAL.... say it with me now.... LEGAL.

 

[Snarkhund]

Fully disclosed and custoemrs are getting free commission to buy and hold a stock which is the purpose. Who cares if you get the stock $0.05 higher price, you didn't pay a commission. If they were doing something illegal they would have been shut down years ago.

If you buy 150 shares and pay 5 cents a share higher price it "costs" you $7.50. If you are long term buy and hold then what is the difference if you got to accumulate stocks over time and pay almost nothing to do so.

Paying for order flow is LEGAL.... say it with me now.... LEGAL.

Front-running massively effects the momentum of movement and costs the retail customer a little on every trade. Its theft.

 

[OrBestOffer]

Front-running massively effects the momentum of movement and costs the retail customer a little on every trade. Its theft.

If you really want your balls frontrunned, go trade BTC. I’m sure Citadel is setting up base camp.

 

[WeToddDid2]

Fully disclosed and custoemrs are getting free commission to buy and hold a stock which is the purpose. Who cares if you get the stock $0.05 higher price, you didn't pay a commission. If they were doing something illegal they would have been shut down years ago.

If you buy 150 shares and pay 5 cents a share higher price it "costs" you $7.50. If you are long term buy and hold then what is the difference if you got to accumulate stocks over time and pay almost nothing to do so.

Paying for order flow is LEGAL.... say it with me now.... LEGAL.

Is front-running LEGAL? When does paying for order flow become front-running?

 

[TreeFrogTrader]

I don't want to mention any specific individuals because it may reinforce some stereotypes but I am just gonna say that certain members of the Dem Majority there on the House Finance Committee are not going to be joining MENSA anytime soon.

Holy Shiite.

 

[OrBestOffer]

I don't want to mention any specific individuals because it may reinforce some stereotypes but I am just gonna say that certain members of the Dem Majority there on the House Finance Committee are not going to be joining MENSA anytime soon.

Holy Shiite.

It’s a Disaster..The Committee misses your 2 wrestling buddies, Jimmer Jordan and Denny Hasterd.

 

[El OchoCinco]

Is front-running LEGAL? When does paying for order flow become front-running?

Paying for order flow is legal. If SEC believes there is front running it is not being done by Robinhood, that is something they need to look into with the market makers. However, none of that was the subject of the hearings so not really relevant for this specific case. In other words the committee was full of idiots and no clue what they are talking about.

 

[maxinger]

down it goes to the next lower level (around 10 to 15)

 

[mlawson71]

Following the Gamestonks debacle, Robinhood decided to try and repair its reputation by...offering people free bonuses for investing in an account. But only for those Robinhood sends an invitation to. They literally want to pay people to forget their mess.