***1776*** wrote:The fact that Robinhood wont allow people to trade some of these stocks is absolute BULLSH!T, (Maybe even a lawsuit) - There is a tweet going around from 2016 from Robinhood basically saying let them trade, which ironically they are NOT doing right now on some stocks
Mark Cuban and others are criticizing Robinhood for doing this and the other nonsense going on in the market now
To be "fair" these is a element of pump and dump IMO and people have to be careful but still to now allow any stock trading is not good
A B/D can limit sales on anything they want for any number of reasons, assuming they aren't discriminating. Read the contract you signed when you opened a brokerage account.
On the flip side, price manipulation is illegal, and the SEC
could go after people in the WSB subreddit. No wonder they closed the group.
I'm just trying to play devil's advocate here. I'm seeing a tremendous amount of people on social media who have no idea what they are talking about.
https://www.sec.gov/files/Market%20Mani ... tudies.pdfMarket Manipulation: Their words:
"Harmful because it affects the integrity of the market place"
"Price should be set by the unimpeded collective judgment
of buyers and sellers"
"They start hyping the stock to the public to generate
artificial interest in stock and cause price to rise"
"May be orchestrated “conversations” in chat rooms, social
media or on message boards that follow particular stocks or the
markets"
"In all likelihood, if you can determine who profited
at the end of the day that is the prime suspect for
your manipulation"
I wouldn't want my computer or identity tied to that subreddit if I had made a big profit. I'm not saying the SEC would be right in going after big manipulators, but DON'T be surprised if they do.