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Nothing in that article said that Robinhood's customers
Posted on: February 26, 2021 at 14:35:17 CT
tigerdb MU
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had the cash in their accounts to execute the trades. If Robinhood would not execute trades for customers with cash in the account, that is a different story from what I've heard/read.
As I said - Robinhood should have simply eliminated margin trades on Gamestop/AMC. That is - "if you want to buy $10k of gamestop, you need to have $10k in your account available to trade".
That would be "honest" with your customer and not screwing them over. No institution should be lending $ to buy Gamestop stock - it's a blockbuster waiting to happen.) Whether it's 1 year, 5 years or 10 - Gamestop is eventually going out of business (people download video games in 2021.)
Edited by tigerdb at 14:36:29 on 02/26/21
As I said - Robinhood should have simply eliminated margin trades on Gamestop/AMC. That is - "if you want to buy $10k of gamestop, you need to have $10k in your account available to trade".
That would be "honest" with your customer and not screwing them over. No institution should be lending $ to buy Gamestop stock - it's a blockbuster waiting to happen.) Whether it's 1 year, 5 years or 10 - Gamestop is eventually going out of business (people download video games in 2021.)
Edited by tigerdb at 14:36:29 on 02/26/21
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Nothing in that article said that Robinhood's customers - tigerdb MU - 2/26 14:35:17