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471

(post is archived)

[–] • 2 pts

Everybody who still holds the shares should increase their ask price to $10,000 to inflate the damages done by Robinhood and other brokerages who forced these sales to happen on a discretionary basis and cause real losses for people.

[–] • 1 pt

RH is selling them on behalf of the investors at a price RH decides.

[–] • 1 pt

There's no way it's legal for a business to sell your property without your permission.

[–] • 0 pt

It’s in their TOS.

[–] • 0 pt

The only thing you can own is bitcoin. Not your keys, not your coins. It's time to used decentralized exchanges for stocks as well.

[–] • 1 pt

... And we'll call it Robin Hood <snickers>

[–] • 1 pt

People should just divest from the market for a time. All at once. Move your 401k to bonds or money market. If we can't play they cant play

[–] • 1 pt (edited )

This belongs to s/insanity

Told you shit would go utterly insane, and it's far from over

[–] • 0 pt

"congress must investigate!"

[–] • 3 pts

Yeah Congress doesn’t want their bribes to stop. They’ll crush retail investors.

[–] • 0 pt

This is insanity. Why have any rules or laws at all if they can be changed in an instant by whoever wants to change them? Fuck it. Why don't we just light the country on fire and watch the muhfugga burn?

[–] • 1 pt

We should be, but we have work tomorrow. The rules don’t apply to the rich and we are their subjects.

[–] • 1 pt

You just can't get this across to people who believe they are free in America. We are as free as a fish is in an aquarium.

[–] • 0 pt

Forcing the unauthorized sales of clients stock(s) is Grand Theft Larceny

>United States

Chart indicating the distribution of forms of larceny in the United States, according to the 2004 Uniform Crime Report. Larceny laws in the United States have their roots in common law, pursuant to which larceny involves the trespassory taking (caption) and carrying away (asportation, removal) of the tangible personal property of another with the intent to permanently deprive the owner of its possession.[14] Larceny is now codified as a statutory crime in all U.S. jurisdictions.[15] Under many states' larceny statutes, including California, larceny can include the taking of "money, labor, or real or personal property."[16]

[–] • 0 pt

If you are buying the stock on margin and it looks like you won't be able to cover your position, RH has every right to liquidate your position on your behalf. It says so in your user agreement. If they are closing positions bought in cash then that should be a class action lawsuit waiting to happen.

[–] • 0 pt

That’s the thing. Retail investors nearly all need to make only cash purchases because they aren’t large enough to get credit.

There is already a class action filed in New York against them.