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I see trading was halted, I presume by the exchange.

I'm curious what Robinhood offers over say Schwab.

The exchange couldn’t just halt it- they have no valid reason to. 

Robinhood no commissions, completely free. Robinhood is most likely toast after this imo. They are going to lose hundreds of thousands if not millions of users.

The exchange couldn’t just halt it- they have no valid reason to.

Robinhood no commissions, completely free. Robinhood is most likely toast after this imo. They are going to lose hundreds of thousands if not millions of users.

No commissions?  Just like Schwab?

At least on stock trades anyway.

The exchange can halt trading, overall, or on a specific stock.

I have mixed feelings here. There is a value to protecting people from buying highly overvalued stock.

I don’t think you’re quite understanding what’s going on here. 

Main Street just destroyed Wall Street at their own games- and Wall Street is crying foul. 

Wall Street was shorting 140% of all Game Stop shares in existence. They were having their minions go on CNBC every day trying to drive that company to zero. That’s the real scandal. That should be illegal.

Citadel by the way- runs all Robinhoods trades for them.

They are trying to stop themselves from getting hurt. They don’t give a shit about protecting people.

GameStop stock deliberately being destroyed by a bunch of assholes who rig/manipulate markets all the time to make money without anyone saying a word-

Hard to believe someone would do that, with all the ethical practices I've been told about here (with lots of money at stake).

I don't understand the Gamestop stock thing.
Why are a group of people doing this?

1. Gamestop's grew on their business model of buying/selling video games.  But people have by and large turned to buying their games digitally, so used games is no longer a thing.  So lately Gamestop has gone in the tank.

2. Hedge funds, which exist mostly to do weird crazy things with the stock market, noticed this and shorted them.  That is, they borrow shares, sell them at the current rate, then plan on buying the shares back at a later time when the share price falls, thereby making a profit.  The downside to this is if the share price goes up, you have to buy them at whatever the rate is. 

3. People on reddit noticed that hedge funds were constantly shorting Gamestop, put out the word to buy the stocks.  So the price starting going up.  This has snowballed and the price has gone from a low of around 4 bucks to a high of around 450 bucks.  So any hedge fund who borrowed the stock at 4 bucks now has to pay back 450 bucks for each share they borrowed.  So hedge funds have lost billions of dollars on this.

Or listen to an expert


https://twitter.com/avalonpenrose/status/1354496683938201600?s=20

she should be on The View