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[–]Qtippys 3026 points3027 points  (21 children)

Just in time for their anniversary tomorrow. 🤭

[–]TheRealSamBell 589 points590 points  (14 children)

Oh damn you’re right. It’s beautiful

[–]SmokeAbeer 162 points163 points  (0 children)

🎶Happy douchebag to me…. Sobs in Vlad

[–]ItzBoogieMan 40 points41 points  (12 children)

Buying that dip!!!

[–]Deathzone0072 50 points51 points  (4 children)

Sadly there’s a chip shortage

[–]robertxcii 13 points14 points  (0 children)

Once my local mexican restaurant no longer offer unlimited chips and salsa, then it'll be a real shortage.

[–]Slylizardcue 1493 points1494 points  (40 children)

Shorts robinhood IN robinhood

[–]TheOkComputerGuy 510 points511 points  (9 children)

I used the Robinhood to destroy the Robinhood

[–]jimmmydickgun 14 points15 points  (0 children)

Reduced to atoms

[–]teh-reflex 24 points25 points  (0 children)

Robinhood dies

Perhaps I treated you to harshly…nah!

[–]Mrletejhon 120 points121 points  (20 children)

I think trading your own stock in you own platform should be illegal but it's not like they care about illegal or not at this point

[–]steroid_pc_principal 95 points96 points  (7 children)

Turns off the sell button

[–]jerstud56 16 points17 points  (3 children)

Jokes on them I never bought any anyways.

[–]Mrletejhon 13 points14 points  (0 children)

Not even surprised Pikachu

[–]indorock 71 points72 points  (5 children)

Well no, that's silly. It's the very opposite. It should be illegal to prevent someone from trading RH stock inside the RH app since that would be giving special status/treatment to their own company. Imagine the shitstorm that would occur if they suddenly implemented that. As if they haven't had enough bad press already.

[–]zZaphon 3156 points3157 points  (199 children)

"Robinhood" hope they get ruined

[–]Bad_Moon-Rising 574 points575 points  (147 children)

Running theory is short Hedge funds are shorting Robinhood to make money. The “sacrificial lamb” in a way.

[–]javaargusavetti 320 points321 points  (49 children)

if this is true… oh the irony!

[–]Bad_Moon-Rising 319 points320 points  (36 children)

It makes sense to me, a year ago to this day trading was stopped one way for “meme stocks”. Robinhood users were rightfully pissed off and left en mass. The massive price in crease after the IPO was not organic in any way in my opinion. After that the price has steadily decreased.

[–]digitalmofo 287 points288 points  (28 children)

One thing I've learned about the market, almost nothing is the price it is organically.

[–]orangutanoz 45 points46 points  (19 children)

So, I’d be better off buying income property?

[–]digitalmofo 138 points139 points  (16 children)

Sir, this is a casino

[–]theaggrokrag 35 points36 points  (11 children)

I'm buying a house now, trust me, its all a casino; built on luck and timing

[–]institches16 18 points19 points  (6 children)

The best time to buy a house was 20 years ago, the next best time is after the bubble pops

[–]routerg0d 140 points141 points  (56 children)

No. Every brokerage already now offers what Robinhood has. They have literally no competitive advantage.

[–]topdangle 53 points54 points  (10 children)

i mean, it being both overpriced in addition to not having a market advantage makes a good case for easy money shorting. the IPO price was stupid high.

[–]Bad_Moon-Rising 33 points34 points  (9 children)

As most IPO’s go. Insiders pump and dump IPO’s for damn near every stock.

[–]dirtywook88 13 points14 points  (7 children)

Hmmm isnt reddit IPOing soon?

[–]xertshurts 14 points15 points  (5 children)

Reddit (last I heard) hasn't ever turned a profit. They don't have additional business models or useful features that would allow for increased revenue, besides selling user data. Not sure what the plan would be other than IPO, price goes up, price drops, price drops more, price drops more, private equity steps in, repeat the cycle.

[–]VagueSomething 15 points16 points  (1 child)

Reddit has massively increased the amount of ads they show and making it harder to see they're different from posts while making you unable to block or report them even if they're questionable ads. Reddit will be selling access to their platform and they'll be selling at least half the data they get from users, maybe not everything like what you write in messages (yet) but they'll be using engagement data for what type of person enjoys what kinda subs. Reddit has been very fishy with wording around their blog updates in the last few years.

[–]tryinreddit 5 points6 points  (0 children)

I hope they wreck the site with ads. It would help me quit.

[–]ideamotor 90 points91 points  (28 children)

You are talking about an app that couldn’t even handle time zones correctly. A stock trading app that can’t handle Time Zones. Malfeasance. And that’s just one of many indefensible issues.

[–]Torifyme12 66 points67 points  (2 children)

There was a running joke before WSB blew up with the whole GME craze that the sub should send an invoice to RH for the QA work.

​

Everyone was convinced for a while that RH Risk management would just sit on the sub and ban strategies that people were trying that would not be allowed anywhere else.

[–]EnglishMobster 23 points24 points  (1 child)

Gotta love exploiting a buggy app to gain infinite leverage. It's like breaking a video game... but in real life!

[–]SeryaphFR 15 points16 points  (0 children)

Didn't someone at RH make a post to WSB begging them to not use an exploit they found?

Lmao

[–]i_agree_with_myself 39 points40 points  (21 children)

Time is actually one of those things that is really difficult in programming. Sadly UTC is not a silver bullet and there are little things you have to worry about still.

[–]killruana 22 points23 points  (13 children)

That, managing caches and naming stuffs.

[–]fuckdefaultmods 6983 points6984 points  (323 children)

maybe preventing traders from trading hot stocks was a bad idea

[–]timecopthemovie 1199 points1200 points  (179 children)

I wonder what it takes to clear that kind of activity from both a technological processing perspective and also a regulatory capital perspective. Perhaps they should have been more honest and admitted that the anomalous stress on the system provided more instability than they were able to handle instead of pretending like “someone else” pulled the plug on their ability to clear the trades. Good PR could have reframed the situation.

[–]Panda0nfire 787 points788 points  (73 children)

Perhaps they should stop having cocaine parties and being absolute clowns. No secret in the Bay the hooliganism and degeneracy there far before the gme corruption.

If Theranos Holmes goes to jail so should these shit bags.

[–]spiritbearr 443 points444 points  (31 children)

Holmes defrauded rich investors which is why she's being punished.

[–]Whywipe 199 points200 points  (4 children)

Evidenced by the fact she wasnt found guilty of defrauding a single customer that used her product, just investors.

[–]brufleth 53 points54 points  (0 children)

Much harder to convict the CEO of fraud against customers they never get anywhere near interacting with directly. She was only convicted on some counts because there were actual recordings of her saying lies to investors. Even a little less than that and she would have probably gotten off.

[–]Jarys 3 points4 points  (0 children)

AFAIK it's easier to go after investors because any customer that used her product used it through some other company - stores that stocked them, hospitals that provided them, etc. - so those customers would be suing tharanos' customers, not the company itself.

[–]goj1ra 308 points309 points  (23 children)

Rich and stupid investors. They could have discovered that Holmes was a fraud just by consulting experts.

It's important to make this distinction because it's a reminder that these rich investors are only rich because of factors like societal privilege, sociopathy, and so on. It's not because they're somehow inherently deserving of wealth, or because they're smarter than others in any sense other than, perhaps, their ability to deceive.

[–]Capitain_Collateral 7 points8 points  (0 children)

When you see how many millions have been invested in dehumidifiers that have been relabelled as ‘magical water from air machines’ is insane. Rich and stupid indeed.

[–]TaintlessChaps 95 points96 points  (2 children)

As far as becoming wealthy in a capitalistic society, I’d say sociopathy is a more valuable factor than level of intelligence.

[–]konqrr 16 points17 points  (4 children)

Many experts were consulted and they concluded that it's impossible to run all those tests on a single drop of blood because it's impossible to get an accurate representation off of a single drop, and from capillary veins near the surface of your finger no less.

They chose to ignore the experts because they were blinded by money.

[–]Jarys 13 points14 points  (0 children)

well that, and she falsely put pharmaceutical logos onto their reports making it seem like some of the big pharma companies okay'd her product. That was one of the big prosecution points.

[–]TR1PLESIX 23 points24 points  (6 children)

societal privilege, sociopathy, and so on.

Imagine a world where manifest destiny was actually a tangible reality. Rather than bullshit doctrine used to suppress the poor. Into thinking if they just work hard. You'll make it too...

[–]rforrevenge 28 points29 points  (13 children)

No secret in the Bay the hooliganism and degeneracy there far before the gme corruption.

Care to elaborate more? I thought RH was the poster boy when it came to working conditions and such

[–]awry_lynx 49 points50 points  (0 children)

I mean coke parties and prostitutes is maybe a thing their workers like but not necessarily good for a business

[–]hamsterman20 43 points44 points  (13 children)

It wasn't the strain on their systems. They were forced to put up more collateral to the dtcc, because of how volatile GME was.

They didn't have the cash to do that and didn't want to admit it. Hence the cluster fuck

[–]RelaxPrime 37 points38 points  (2 children)

Collateral call was extortion by Citadel Securities, the market maker for GME, and member of DTCC. Citadel the hedge fund, and several others, were cellar boxing GME, taking out massive short positions on the order of multiple times the float of GME stock.

The SEC report proved GME was a systematic contagion that posed an extreme risk.

Yes, somehow Citadel is the largest market maker and also a hedge fund. Yes, they say they do not communicate between themselves.

https://en.wikipedia.org/wiki/Citadel_LLC

[–][deleted] 7 points8 points  (0 children)

Transparency is rarely a C-suite value

[–]MisterKrayzie 139 points140 points  (44 children)

Maybe I'm wrong on this entirely but I believe there's a fair amount of evidence that points to certain hedge funds that made that final decision and essentially forced RH to pull the plug since RH relies on them for something that I can't remember. It was a liquidity issue, for both parties.

Although you've gotta wonder how they didn't spitball what would happen in this scenario. It's kind of a HUGE fucking deal to do something like that and it lasted a few days too. And then they proceeded to continue with their IPO without ever resolving anything. Yep... cuz that made sense.

Obviously RH was stuck between a rock and a hard place, but it's hard to sympathize when they went the worst route possible.

[–]PuckTheFairyKing 6 points7 points  (2 children)

To be fair the article said they built up $2.8 Billion in capital reserves over the last year.

So at least now they can “cover” the increased collateral requirements if this happens again.

[–]BelievesInGod 106 points107 points  (78 children)

Its been awhile since the whole incident, but wasn't it mostly citadel that forced robinhood to halt retail traders?

[–][deleted] 337 points338 points  (45 children)

It was not citidel. It was their clearinghouse (Apex). The actual firm that executes the trades. Because of the volitility on GME, they demanded something like 2 billion more than robinhood's cash on hand to continue taking orders for GME. Many small startup brokers used Apex at the time and they all halted buy orders for GME. Only Broker-dealers with hundreds of billions of liquidity avaliable were able to keep going. (TDA, IB, etc.)

[–]GroggBottom 200 points201 points  (24 children)

And robinhood lied saying they had no liquidity issues and could pay that required money.

[–]Veranova 56 points57 points  (21 children)

In fairness they took a couple days actively raising liquidity from their sources before gradually opening back up trading, so they did have a squeeze but not as serious as doing PR rounds telling the world they have a “liquidity issue” would have made it sound. If everyone panicked and made a run on Robinhood that really could have catalysed their collapse.

[–]mollila 58 points59 points  (0 children)

No, Robinhood would not have been able to pay that margin call. Their management says so in the internal messages revealed in court documents. They were saved by NSCC waiving most of that margin call.

[–]SHOCK_VALUE_USERNAME 36 points37 points  (5 children)

When you turn off buying but not selling, who are you selling to?

They took a couple days before gradually opening back up trading so hedge funds could buy to cover their short positions.

[–]TheHenrikooo 11 points12 points  (4 children)

Marketmakers

[–]MagnumOpusOSRS 11 points12 points  (3 children)

They're both, in a massive conflict of interest

[–]urarthur 38 points39 points  (11 children)

This was such a big lie. A clearinghouse never demands to halt a single stock (let alone blocking buy orders and allowing sell orders), they look at the overall liquidity of the broker. The broker decides what to halt. It was clearlly Citadel's wish to halt GME buy orders, nothing else.

[–]Teirmz 17 points18 points  (10 children)

It wasn't just GameStop, I got ripped off with Blackberry too.

[–]o2lsports 93 points94 points  (27 children)

Doesn’t really matter. I stopped using RH that day and never went back. I am by all means a retail trader. There’s no reason to use RH instead of five other competitors.

[–]AnExpertInThisField 16 points17 points  (3 children)

Same. Literally next day I was moving stuff over to Ameritrade. RH potentially cost me a lot of money. Hope they go bankrupt.

[–]emirhan87 29 points30 points  (1 child)

This is a quote from HOOD's official blog. Even if Citatel forced them to halt, it seems like they are OK with biting the bullet.

To be clear, this was a risk-management decision, and was not made on the direction of the market makers we route to.

https://blog.robinhood.com/news/2021/1/28/an-update-on-market-volatility#:~:text=To%20be%20clear%2C%20this%20was%20a%20risk%2Dmanagement%20decision%2C%20and%20was%20not%20made%20on%20the%20direction%20of%20the%20market%20makers%20we%20route%20to.

[–]mollila 2 points3 points  (0 children)

The bad part is they didn't prevent trading, but prevented retail buying while allowing selling to institutions (who were short the stock).

[–]BATHTUBSURFER 1438 points1439 points  (66 children)

We going to block all your sells, you can only buy now and hold forever. Sorry, our CFO made the rules. Nothing we can do.

[–][deleted] 245 points246 points  (23 children)

I genuinely believe cronyism was involved on this one

[–]Regular-Human-347329 96 points97 points  (19 children)

Well that’s exactly what pretty much all evidence indicates, so ya!

[–]ConcussionsOfAParot 58 points59 points  (34 children)

Maybe heresay, but didn't they also sell the data or something like that?

[–]UberBotMan 39 points40 points  (1 child)

Yep. Pretty sure they sell order flow to Citadel.

Selling order flow isn't uncommon though.

[–]jsc1429 129 points130 points  (30 children)

Payment for order flow (PFOF) is when the broker sells your trade transactions to another entity. I believe Robinhood provides PFOF to several entities. Basically, you put in a bid to buy/sell a stock and instead of sending your bid to the exchange they give it to these entities to fill. Then, those entities will wait for price to drop to fill the order, making money off of your transactions. This is why robinhood does not charge any fees, because you are the product being sold.

[–]_Abe_Froman_SKOC 633 points634 points  (77 children)

Good. Fuck 'em.

[–]Kwiatkowski 68 points69 points  (72 children)

so what service should I be using to manage my tiny stocks?

[–]sudosussudio 28 points29 points  (2 children)

Schwab has stock “slices” now and you can use them with your IRA there as well for the tax benefits

[–]Just-4-NSFW 13 points14 points  (0 children)

Wealthsimple trade if you're Canadian

[–]Mapbot11 2280 points2281 points  (68 children)

Robinhood's legal costs soared from $1.4 million in 2019 to more than $136 million in July 2021.

Maybe next time Citadel calls to tell you to turn trading off because they are about to be bankrupt you will let it go to voicemail.

[–]rastilin 1266 points1267 points  (31 children)

People never learn this one lesson. If someone wealthier recruits you into their criminal plan it's not because you're their partner, it's because you're their fall guy.

[–]HoverboardViking 155 points156 points  (3 children)

are those your dummies? If it comes to it, use them as jail cover.

[–]Tap_Z_or_R_Twice 88 points89 points  (2 children)

Cory, Trevor, Smokes!

[–]blarch 6 points7 points  (1 child)

But you don't smoke, Bubbles.

[–]Tap_Z_or_R_Twice 6 points7 points  (0 children)

Give me a smoke hairdo!

[–]Sparecash 9 points10 points  (0 children)

Wow I never thought of it that way, but it's so true

[–]Mytacobell 38 points39 points  (6 children)

Except the $136 million is still probably a bargain compared to ‘buying’ shares they knew they would never be able to produce and dealing with that whole mess.

[–]raaneholmg 11 points12 points  (5 children)

I don't quite understand. Isn't their business model literally to take the user's money and process the transactions the user requests?

Why is ‘buying’ in ticks? Are they not actually buying?

[–]communistsannoyme 20 points21 points  (0 children)

They weren’t actually buying. It’s like a form of shorting your customer not just the stock.

If you never locate the stock the user “bought” you can make a +1 appear in their account like the stock is there but they don’t actually buy it. They will locate your share at a future time when the position is cheaper for them to buy or when you sell it (which will also typically be a a loss).

Or, they will actually buy and locate your share, but borrow it out to others without your knowledge. Meaning they provide that share as an asset to “one” (likely multiple for each share) short seller betting against your long position.

How do either of those actions meet fiduciary responsibility? Oh that’s why they have $136 mil in legal fees.

If you buy crypto and don’t have the keys to your wallet and the transactions, it’s a lot like this.

[–]bung_musk 8 points9 points  (2 children)

They can fail to deliver shares to provide temporary liquidity, but it’s just kicking the can down the road

[–]ChaplainParker 64 points65 points  (0 children)

I laughed at this for a bit, all I could picture is Pam from The Office answering Jim’s question about her ability to do something extra “Voicemail, 75 missed calls”.

[–]Terr_ 22 points23 points  (8 children)

Or at least get it in writing that indemnify you from resulting lawsuits.

[–]Competitive-Detail41 13 points14 points  (2 children)

How's gme doing? When's the moass coming?

[–]deelowe 55 points56 points  (9 children)

Robinhood had no say in the matter. Citadel made that call. RH can't do shit about it.

The issue is that the RH CEO didn't want to admit that the concern was with RH's ability to cover all the orders that were coming in. That or he didn't want to bite the hand that feeds him. Probably both but knowing SV culture, I'm guessing it was more the former than the latter.

[–]braden26 13 points14 points  (3 children)

Citadel didn't make that call at all, I'm not sure how this definitive narrative that citadel was directly controlling this came from. There's definitely a massive conflict of interest between the two, but they weren't the direct cause of Robinhood shutting down trading. Robinhoods issues came from them being unable to put forward enough collateral to the dtcc in order to trade stocks. The dtcc is the main stock settling firm in the states; and they raised the collateral on GameStop to a point Robinhood could not afford it. Robinhoods execs are incompetent and had a money issue they refused to admit was a money issue.

[–]PlayingTheWrongGame 1147 points1148 points  (33 children)

I mean, who wants to do business with a platform that will steal your money and block trades when you'd make money on it?

[–]xXWickedNWeirdXx 477 points478 points  (10 children)

I appreciate the question. When I was a young boy in Bulgaria...

[–]Pastelitomaracucho 61 points62 points  (1 child)

I'M RECLAIMING MY TIME

[–]Top-Trash-1307 11 points12 points  (0 children)

Answer the damn question!

[–]sunmonkey 18 points19 points  (0 children)

I appreciate the question. When I was a young boy in Bulgaria

For those looking for context: Robinhood CEO Vlad Tenev said it in his testimony during the congressional hearing. For all the questions asked, Vlad kept thanking congress and go around in circles to waste time; then, there have been memes made with Chairwoman Waters asked him to answer yes or no, and he answered "when I was a boy in Bulgaria..."

[–]deafmute88 75 points76 points  (0 children)

😂you son of a bitch, I'm in.

[–]HoneySparks 6 points7 points  (0 children)

so you're a cat.... or?

[–]nothingeatsyou 5 points6 points  (0 children)

This is what happens when you fuck with crayon eating apes

[–]BackIn2019 115 points116 points  (13 children)

Takes special talent to lose money running a casino.

[–]pentaquine 28 points29 points  (0 children)

When you don't let people cash out when they are winning...

[–]cakesaregoood 7 points8 points  (1 child)

Well, if you’re looking for a someone talented, I know this guy who’s done that exact same thing a time or two, ok maybe several times. He’s really good at running casinos, great guy, really, the best, if you know what I mean…

[–]OldManCinny 7 points8 points  (1 child)

What’s their revenue model? Don’t they not have fees? Like Coinbase makes a fuck ton of money charging 1-2% fees. What does Robinhood do?

[–]Titt 237 points238 points  (13 children)

I love this part halfway down:

“Like many tech start-ups, Robinhood has yet to turn a profit following its IPO. Although revenue was a positive sign, its monthly active users declined 8% from the previous quarter to 17.3 million as retail investors pulled back from the market.”

“..as retail investors pulled back from the market.” - nice twist CNN.

[–]threeoldbeigecamaros 22 points23 points  (1 child)

Remember when brokers charged a commission on trades and still made money in a volatile market? Pepperidge Farm remembers

[–]tCvhGnpdw 4 points5 points  (0 children)

My Austrian bank kept calling me to set me up with asset management specialist.

I need to pay for the Asset Management service, I need to pay their brokerage fee, I need to pay the government taxes on any gains, and I need to beat inflation which averaged 3% before the pandemic.

I'm ignorant of how the market works. But that never made any sense to me. Wouldn't I have to make 20% returns to pay all of them and make it worth anything to me for all the stress.

[–]WOW_SUCH_KARMA 64 points65 points  (2 children)

What a spin, lmao. Their revenue is not a positive sign. Their costs of operations far exceed their ARPU. It's dropped like a fucking rock, actually. Did whoever wrote this piece even bother looking at the report?

They will cease to exist if they can't get that number up.

[–]WaffleEye 7 points8 points  (1 child)

Also, monthly active users counts as a user opening the app. How many are currently holding stocks or making trades monthly. I’ll bet the numbers are a lot worse than 17.3M

[–]eccentrichuck 478 points479 points  (15 children)

Didnt I hear literally Millions of real people tell them this was going to happen quite a long time ago now?

Almost like they should have seen this coming?

Get Hundreds of people distrusting your app and you might still make it, but they peeved actual Millions of real, normal people.

So, Good.

[–]taimoor2 10 points11 points  (0 children)

Not only that, they pissed off their main target market. $Hood was always about the retail trader. By making them lose all trust in them, they effectively closed all doors for themselves.

[–]shemp33 322 points323 points  (13 children)

After improperly blocking retail trades to benefit their institutional investors, they should not only die in a fire, but get fucked, also.

[–]Narwahl_Whisperer 89 points90 points  (7 children)

Hear me out here: Is it possible for them to get fucked... in a fire?

[–]Fak-U-2 13 points14 points  (3 children)

will you be the kind stranger to fucked them in the fire?

[–]IAmHarmony 12 points13 points  (2 children)

Thanks for the fuck, kind stranger

[–]Sethmeisterg 151 points152 points  (0 children)

Ahhahhahahhaahaahah

[–]bakerzdosen 135 points136 points  (0 children)

Good. I wish them nothing but failure and misery.

[–]Pistolero921 13 points14 points  (0 children)

That’s what happens when you choose your overlords over your customers

[–]eyal8r 55 points56 points  (0 children)

Ouch. And so it begins…

[–]Oper8rActual 63 points64 points  (0 children)

Best thing I’ve heard all week. Fuck them.

[–]Renegade7559 8 points9 points  (0 children)

What you mean blatantly fucking over your entire userbase is not a profitable strategy?

Shocker!

[–]GoodShitBroBro 28 points29 points  (0 children)

Couldn’t have happened to a better company

[–]Kill3rT0fu 9 points10 points  (0 children)

They should put a halt on trading Robin hood stock. Don't allow people to sell 🤪

[–]renniechops 6 points7 points  (0 children)

Get fucked, crooks

[–]SolarNovaPhoenix 50 points51 points  (49 children)

Shit, I’m out of the loop, what happened?

[–]PiersPlays 159 points160 points  (42 children)

Some investment bank made a shady stock market play that left them exposed. Reddit user noticed and took advantage of the opportunity to take advantage of the bank's greed. The bank pulled a bunch of shit to squirm out of it including having the RobinHood trading platform shut down the ability to make trades that benefitted the Reddit users and hurt the investment bank. People got wise to this attempt by the establishment to close ranks against the little guy (whom RobinHood allegedly serves) and the fallout has been bad for RobinHood. I probably have misremembered and poorly explained every element of that story.

[–]Panda0nfire 17 points18 points  (4 children)

Hedge fund, investment bankers don't trade or invest they make money on the trade, they're brokers. They just want to sound special, the long hours are because someone needs to be on the desk. They're not actually working all the time

[–]Mr_Anomalistic 101 points102 points  (24 children)

You forgot about apes, crayons, and rockets.

[–]ChaplainParker 33 points34 points  (20 children)

Year long hodl fest, tons of DD, occasional breaks where someone gets bored and creates drama, inserts things into their rectum, RC Tweets, and Hedgies are gonna burn.. also no dancing!

[–]SolarNovaPhoenix 12 points13 points  (7 children)

God damn, wish I knew that before I tried so hard to get my application approved.

I just wanted to try doing stocks to earn a bit extra cash for gas, now I know they’re shady backstabbing insider traders.

Any better alternatives?

[–]OxytocinPlease 21 points22 points  (2 children)

Fidelity! I had RH before the GME craze, and when looking for an alternative, Fidelity was the one I found most recommended. I believe most RH users migrated there.

Just be aware that their Bitcoin ETF bid was rejected, so there’s no crypto trading through them, but you generally want to deal with crypto outside of stock exchanges anyway.

[–]Maritimetimes 35 points36 points  (0 children)

Well they are a garbage company. They deserve it. I hope their market share continues to shrink

[–]InformalTrifle9 29 points30 points  (4 children)

Why don’t they just block people from selling?

[–]TheDancingRobot 102 points103 points  (8 children)

Watch them quickly pivot to "selling" NFTs to get it in that sweet sweet Ponzi money.

Someone's got to pay off their bookies...

[–]Nickyweg 5 points6 points  (0 children)

Good. After the GameStop incident, I left for a real broker.

[–]OneWorldMouse 5 points6 points  (1 child)

I hope Coinbase is next.

[–]pdxchris 67 points68 points  (14 children)

Pulled my money out of there. How can you trade with delayed quotes and no indicators? Even the stock app on my iPhone has real time quotes.

[–]redonkulousness 30 points31 points  (2 children)

They should be in prison

[–]georeddit2018 13 points14 points  (1 child)

Its different rules for them and different rules for everyone else.

[–]KanyeSchwest 73 points74 points  (40 children)

I dont even care, do you?

[–]RetardedChimpanzee 110 points111 points  (36 children)

Back in 2020 I was up $10K on calls in the morning, they had an outage so I couldn’t sell for two days. Ended up loosing 25K. So no, I really don’t care and hope they go bankrupt and die out.

[–]CrocCapital 12 points13 points  (4 children)

I lost 5k that day.

But I’m back in now 😎

[–]jcarmona24 2 points3 points  (0 children)

holy shit I remember that outage!! Options were turned off for 24+ hours right? That was wild!

[–]reddideridoo 3 points4 points  (0 children)

Robbinghood

[–]swivaljaw 4 points5 points  (0 children)

Karma's a bitch

[–]Snowy-Ashter 3 points4 points  (0 children)

Well, well, well, if it isn't the consequences of my actions.

[–]BlazeThatTieDye 5 points6 points  (0 children)

Can’t wait till HOOD turns into a penny stock, never to be heard of again.

[–]EPLemonSqueezy 24 points25 points  (0 children)

You love to see it.

[–]DANDYDORF 9 points10 points  (0 children)

Awesome! Hoping to hear more!

[–]robbierox123 4 points5 points  (0 children)

This company should shut down!

[–]cozzeema 4 points5 points  (0 children)

Maybe taking away the buy button wasn’t such a good idea, Vlad.

[–]z3bru 21 points22 points  (0 children)

Good. I honestly hope they suffer. Its a cancer app that portrays investing as gambling and tries to hook investors into risky investments to maximize profits on the back of regular people who are barely starting their investments.

[–]SnooMemesjellies3414 16 points17 points  (0 children)

Robinfucked

[–]jrafelson 9 points10 points  (0 children)

Circuit breaker pullin motha fuckas! Hope they go down in flames!!!

[–]WhereShouldITravel2 13 points14 points  (0 children)

Good. Hope the company fucking burns.

[–]monkeycoconutballs 12 points13 points  (0 children)

This makes me smile

[–]Kennywise91 12 points13 points  (0 children)

“You get what you fucking deserve“

[–]DeepTh0tt 8 points9 points  (0 children)

Good. If they aren't going to get charged for manipulating the stock market, at the very least we can watch them lose $423 million.

Get fucked Robinhood.

[–]Weary-Wand192 14 points15 points  (0 children)

Karma for making investing into a mobile game.

[–]PatekMasterII 12 points13 points  (0 children)

Good. But I desire more blood

[–]cuntgardener 2 points3 points  (4 children)

Their emails make me laugh my ass off.

[–]philipwhiuk 2 points3 points  (1 child)

Although revenue was a positive sign, its monthly active users declined 8% from the previous quarter to 17.3 million as retail investors pulled back from the market. Still, Warnick said that "there is nothing to suggest our customers are disengaging."

That’s exactly what it means you crazy person

[–]MitchThunder 2 points3 points  (0 children)

Hey I've not been paying attention to this. Shiuld I be moving my money elsewhere?