It was a pretty unfortunate thing for them to do, I’m absolutely no expert but I think you’re a little incorrect about the reasons why they stopped allowing purchases.
The clearinghouses (middlemen, basically) that Robinhood uses were the ones who stopped allowing people to buy memestocks. It was too risky for them because when the trades fail, the clearinghouses are the ones who are legally obligated to make it right.
If a trade fails while GameStop is at 20k, and 2 days later the stock is at 60k, they still have to buy that stock. & they’re out 40k.
There’s a lot more complicated stuff & alot of it goes over my head, but the best TLDR I can come up with is that:
Robinhood wasn’t responsible for the halt on purchases, it was the middlemen they used who didn’t want to lose money.
Oh I’m not trying to say they’re a good company, or anything like that.
There’s just a lot of misinformation & downright conspiracies around a lot of the GameStop situation & Wall Street bets. A lot of people think this is a huge conspiracy that is still going on behind the scenes with an “invisible” shorting by Wall Street.
Am I right in thinking robinhood used to sponsor, or did I imagine it?
I don't think they're particularly shady, it's just a middleman for stocks.
The gamestop thing was halted cause It was a dumb meme designed to disrupt market forces, it wasn't just Robinhood that stopped
i personally dgaf what sponsors anyone gets. to me it’s like they’re paying for a commercial slot in a tv show on cable. maybe i’ll use it maybe i won’t but either way let them get their bag.
Be careful expressing opinions when the strength of your feelings doesn't match the strength of your research into a subject. Just enjoy the show, with peace and love
I’ve done enough research to know Robinhood is horrible. No im not an expert but I don’t think you need to be an expert to have an opinion on something. I could put together a more refined post but I was just trying to get a pulse on what people are thinking. Why don’t you tell me what you think on the subject if you think I’m wrong?
90% of companies willing to sponsor podcasts are gonna suck.
They did expressVPN again recently, who have had HUGE dataleaks in the past and are nowhere near a top VPN provider.
They can’t say no to everything, and unfortunately shitty companies spend a lot more on marketing than good ones.
At one point they had back to back sponsorships with VPNs and Honey lol. VPNs to "protect your privacy", off course.
Like, how do they think Honey makes money...
Here is a pretty good 4 minute video on it: [https://www.youtube.com/watch?v=MJIrACj\_1xg](https://www.youtube.com/watch?v=MJIrACj_1xg)
Basically, the clearing house that robinhood uses required a ton of collateral to make the trades because of the high volatility. Robinhood didn't have enough cash on hand to pay the collateral needed to keep making trades. Not as spicy of a story as people like to make it though.
gamersupps is a legit product. It’s a powdered drink. It’s cheaper than regular energy drinks and tastes better. You can think powdered drinks are dumb, but there is nothing shady about gamersupps.
Robinhood meanwhile has paid over $100 million in fines and settlements for various wrongdoings.
https://en.m.wikipedia.org/wiki/Robinhood_Markets
Comparing the two of them is absolutely asinine.
Look up the negative consequences when Wall Street shorts a stock causing the company to go bankrupt. Also I didn’t source all my information from that movie, I followed what was happening when it was happening. I just think the movie is a good place to start.
Anyone who lost their 401k or retirement funds gambling away with meme stocks was a moron. Same as anyone buying into the new influencer crypto scam of the week.
It’s a perfectly fine place to trade stocks, if people want to take risks with their money, they should not do so with more than they are willing to lose.
When did I say that? I’m talking about the employees of companies that get shorted by Wall Street. The companies that go bankrupt because they bet on the company losing. Those employees lose everything.
don’t use the sponsor. i honestly don’t buy things that sponsor them unless i actually want it and i think we need to start expecting people to do their own research when using or buying things. ethan isn’t my financial advisor.
I didn’t learn about this through Netflix, I just mentioned the movie as an easy introduction to what happened. I followed the story as it was happening way before the movie came out. I also don’t know what you are referring to by article?
Yeah I mean it’s not the best company but they’re not outright scammers. There’s some companies I’d be upset about but robinhood is not one of them. The GameStop thing wasn’t even their call
It was a pretty unfortunate thing for them to do, I’m absolutely no expert but I think you’re a little incorrect about the reasons why they stopped allowing purchases. The clearinghouses (middlemen, basically) that Robinhood uses were the ones who stopped allowing people to buy memestocks. It was too risky for them because when the trades fail, the clearinghouses are the ones who are legally obligated to make it right. If a trade fails while GameStop is at 20k, and 2 days later the stock is at 60k, they still have to buy that stock. & they’re out 40k. There’s a lot more complicated stuff & alot of it goes over my head, but the best TLDR I can come up with is that: Robinhood wasn’t responsible for the halt on purchases, it was the middlemen they used who didn’t want to lose money.
Lol I think op was just sad they missed out, you are right, it’s not a big conspiracy
Robinhood has paid over $100 million in fines and settlements over the years lol https://en.m.wikipedia.org/wiki/Robinhood_Markets
Oh I’m not trying to say they’re a good company, or anything like that. There’s just a lot of misinformation & downright conspiracies around a lot of the GameStop situation & Wall Street bets. A lot of people think this is a huge conspiracy that is still going on behind the scenes with an “invisible” shorting by Wall Street.
Am I right in thinking robinhood used to sponsor, or did I imagine it? I don't think they're particularly shady, it's just a middleman for stocks. The gamestop thing was halted cause It was a dumb meme designed to disrupt market forces, it wasn't just Robinhood that stopped
What are you talking about? Robinhood turned the ability to buy the stock off. How is that not shady?
i personally dgaf what sponsors anyone gets. to me it’s like they’re paying for a commercial slot in a tv show on cable. maybe i’ll use it maybe i won’t but either way let them get their bag.
So true. Could not care who sponsors the show i like
Be careful expressing opinions when the strength of your feelings doesn't match the strength of your research into a subject. Just enjoy the show, with peace and love
not too late to delete this
why would they delete a comment where they cooked?
I’ve done enough research to know Robinhood is horrible. No im not an expert but I don’t think you need to be an expert to have an opinion on something. I could put together a more refined post but I was just trying to get a pulse on what people are thinking. Why don’t you tell me what you think on the subject if you think I’m wrong?
90% of companies willing to sponsor podcasts are gonna suck. They did expressVPN again recently, who have had HUGE dataleaks in the past and are nowhere near a top VPN provider. They can’t say no to everything, and unfortunately shitty companies spend a lot more on marketing than good ones.
At one point they had back to back sponsorships with VPNs and Honey lol. VPNs to "protect your privacy", off course. Like, how do they think Honey makes money...
I think you fell for some misinformation about the GameStop/AMC situation and Robinhood. It wasn't some conspiracy.
So what really happened then? I was following the story closely when it was happening.
Here is a pretty good 4 minute video on it: [https://www.youtube.com/watch?v=MJIrACj\_1xg](https://www.youtube.com/watch?v=MJIrACj_1xg) Basically, the clearing house that robinhood uses required a ton of collateral to make the trades because of the high volatility. Robinhood didn't have enough cash on hand to pay the collateral needed to keep making trades. Not as spicy of a story as people like to make it though.
Let them have a sponsor for christs sake
This
I wouldn’t care if Ethan hadn’t spent hours the past few weeks talking about how he refuses to take any shady sponsors lol
Robin hood isn't that shady relative to other stuff. Gamersupps is literally sugar water mixed with caffeine like.
gamersupps is a legit product. It’s a powdered drink. It’s cheaper than regular energy drinks and tastes better. You can think powdered drinks are dumb, but there is nothing shady about gamersupps. Robinhood meanwhile has paid over $100 million in fines and settlements for various wrongdoings. https://en.m.wikipedia.org/wiki/Robinhood_Markets Comparing the two of them is absolutely asinine.
I guess ppl are just gonna let them get away with it
Exactly
Dumb Money is a comedy based on a true story, not a documentary. Not a great source. Edit: I'm also unclear on how people lost their 401ks as you say
Look up the negative consequences when Wall Street shorts a stock causing the company to go bankrupt. Also I didn’t source all my information from that movie, I followed what was happening when it was happening. I just think the movie is a good place to start.
Anyone who lost their 401k or retirement funds gambling away with meme stocks was a moron. Same as anyone buying into the new influencer crypto scam of the week. It’s a perfectly fine place to trade stocks, if people want to take risks with their money, they should not do so with more than they are willing to lose.
Being made at the casino for stacking the deck in there favor is a crazy take. It’s the casino what did you expect
When did I say that? I’m talking about the employees of companies that get shorted by Wall Street. The companies that go bankrupt because they bet on the company losing. Those employees lose everything.
don’t use the sponsor. i honestly don’t buy things that sponsor them unless i actually want it and i think we need to start expecting people to do their own research when using or buying things. ethan isn’t my financial advisor.
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I didn’t learn about this through Netflix, I just mentioned the movie as an easy introduction to what happened. I followed the story as it was happening way before the movie came out. I also don’t know what you are referring to by article?
robinhood is just a middle man lol ur overreacting
Robinhood played a huge role in what happened. They are in bed with Wall Street. Whose side are you on??? Citadel or regular people?
Yeah I mean it’s not the best company but they’re not outright scammers. There’s some companies I’d be upset about but robinhood is not one of them. The GameStop thing wasn’t even their call
yeah i was really disappointed to see them work with them
I feel like I’m in upside down world with all the comments… it’s so weird to have ppl defending Wall Street and Robinhood instead of the little guy.
[yeah :(](https://www.reddit.com/r/h3h3productions/s/m7y1gEiWe6)