Bodjhrjekekr wrote: » But the brokers stopped the buying so aren't facilitating it, that's what I mean
Dickerty wrote: » There should be class action suits by everyone who was stopped from buying these valid stocks (but allowed to SELL!) before they ceased trading. That's market manipulation, and illegal. And it's no coincidence that it all stopped on the same day - all the apps/sites, all the brokers,all at once? Absolute bull.
Jimbobjoeyman wrote: » I might be mistaken but I'd be fairly certain there are laws that prohibit individuals organizing in an attempt to actively distort the market and pricing for short term gain. I know for a fact if institutional investors grouped to do this there would be securities fraud and market manipulation investigation. What went on with these stocks is also market manipulation in the exact same way. No surprise the brokers called time on this.
dpforce wrote: » Nope. There are mechanisms in place to halt trading when security becomes too volatile.
Dickerty wrote: » But brokers and banks make money on volatility, not on share price. So the only reason to cease trading is because of some potential illegal act by market makers (not happening here, unless you could the original shorting!), or some technical issue maybe. This was brought down from within by a systematic decision to protect the big players.
Dickerty wrote: » If anyone happens to see the apps opening up to buying these stocks again, please let the forum know!
Jimbobjoeyman wrote: » The issue wasn't on the sell side of the market. Stopping buying doesn't force the market down.
TheMilkyPirate wrote: » I bought on Revolut 30 minutes ago.
Dickerty wrote: » Really? My trade was declined there a few hours ago... Yep, looks like it's back up! And now I can buy at 270 instead of 370!
dotsman wrote: » Of course "stopping buying" forces the market down. Especially on an extremely volatile stock. Every trade requires a buyer and a seller. When a large proportion of the would-be buyers are prevented from participating, sellers now greatly outweigh the buyers, thus the price tanks. As the price tanks, and with no buyers to stop the decline, more people become sellers as the price goes below their comfort zone. As more people see this, and also see how the game is completely and blatantly being rigged against them, they too sell, forcing the price even lower. The whole purpose of preventing buyers is to force the price to collapse. The only people benefiting from this move are those holding short positions in GME/AMC etc who are absolutely laughing their asses off and signing songs of praise about robinhood. It is absolutely disgusting what that broker did to its customers. I really do hope they pay the price in the end. There needs to be some accountability for their actions.
Jimbobjoeyman wrote: » Exactly you've just said it yourself. When the sellers outweigh the buyers the market tanks. If gamestop was fairly priced people would be happy to hold on until the market opens again to sell at a fair price; there wouldn't be enough sellers for the market to tank. Note I'm using the term fair here. Gamestop is not at a fair price and people are trading based on a distorted market.
Robinhood's actions have been to distort that market to promote selling and prevent buying.
Irishder wrote: » Crazy day i bought AMC at $15 earlier then they all apps stopped selling it. Interesting to see when they allow trading again and what happens if its tomorrow
Jim2007 wrote: » Discount brokers make up for the free/discounted trades by winning a commission for transaction routing, it is not illegal
daheff wrote: » But if the broker isn't facilitating trades they are reducing volume and preventing their own commission, right? Stopping people trading isn't then in their own interests. I don't think it's illegal for the brokers to stop trading a particular stock in the normal course of events. I would hazard a guess that there's something in the agreements people sign up to that allows them to stop providing a service for that share. BUT in this case I do think that there's a lot more happening behind the scenes than is being told. The links between brokers and shorted hedge funds and how stopping buying suits those hedge funds stinks big time.
Atlantic Dawn wrote: » New Concept Energy up 1000% today, more shenanigans?
ardinn wrote: » Can you buy crypto on revolut? Also big question here - Can you lose more than your original investment? If I buy €200 worth of stock, can it depreciate to less than €200 causing me to lose more than €200? That might be a silly Q but just to be sure to be sure!
