Gamestop

[Thoth]

It's a popular stonk

This supports my long held belief that most people are ****ing idiots.

[Kidlicious]

They just like the stonk.

[Thoth]

Looks like DFV (aka Keith Gill) is in a bit of trouble thanks to his day job as a securities broker.

I'm glad of got lots of popping corn in the cupboard. The entertainment has barely begun.

https://www.nytimes.com/2021/02/03/business/roaring-kitty-gamestop-massmutual.html

[Kidlicious]

Did they tell you that it's illegal to be a securities broker?

[giblets]

The bottom line is the investors want a company that let's them trade what they want when they want. If a company doesn't do that then investors have every reason to find a different company to execute their trades for them. After all, they are paying a fee for the company to execute the trades as they direct not to have them say what the company thinks is best for them or the market as a whole. Everyone should refuse to keep accounts with Robin Hood simply based upon those points.

Robinhood doesn't charge commissions. People are complaining about a free service being inferior to what one would expect from a paid service.

[Dinner]

It charges a monthly fee is what I heard. You are the only one who brought up commissions. I stand by what I said. People are paying for the company to execute trades for them and if the company refuses, well, they have thousands of other options out there.

[Kidlicious]

Robinhood doesn't charge commissions. People are complaining about a free service being inferior to what one would expect from a paid service.

They make money off of retail investors, obviously. So it's a business agreement, in which Robinhood might have a fiduciary duty to look after the interest of the investors. The argument is that the HFs aren't their customers or business partners, so Robinhood doesn't have any fiduciary duty to them.

[Thoth]

It charges a monthly fee is what I heard. You are the only one who brought up commissions. I stand by what I said. People are paying for the company to execute trades for them and if the company refuses, well, they have thousands of other options out there.

Their fee structure is here: https://cdn.robinhood.com/assets/rob...20Schedule.pdf

Terms and conditions here: https://cdn.robinhood.com/assets/rob...0Agreement.pdf

I understand Robinhood may at any time, in its sole discretionand without prior notice to Me, prohibit or restrict My ability to trade securities.

[Kidlicious]

They might not be able to restrict them from trading in a way that harms them financially.

[Dinner]

Their fee structure is here: https://cdn.robinhood.com/assets/rob...20Schedule.pdf

Terms and conditions here: https://cdn.robinhood.com/assets/rob...0Agreement.pdf

[/FONT]

Thoth, I am saying it is a free market and customers can and likely will up and walk away to one of their thousands of competitors. They can out what ever they want into their terms and conditions and customers are equally free to say "I don't like that" and close their accounts. I suspect a lot of people are doing that.

[Kidlicious]

Maxine Waters (banking committee) said, in an interview that she wants DFV to testify in front of the committee. This is great for the populist movement.

[Thoth]

Thoth, I am saying it is a free market and customers can and likely will up and walk away to one of their thousands of competitors. They can out what ever they want into their terms and conditions and customers are equally free to say "I don't like that" and close their accounts. I suspect a lot of people are doing that.

I suspect a lot of people will leave RH out of misplaced anger. Damn fools should have read and understood the terms of the agreements they were entering into. They have nobody to blame but themselves.

[Kidlicious]

You don't think they should be made about RH taking action that hurt them financially?

[Thoth]

What action was that?

[Kidlicious]

Restricted trades during a short squeeze. Oh that's right, you don't even know there was a short squeeze going on. Nvm. You're just trolling on behalf of billionaires you don't even know.