Robinhood Becomes Nannyhood
I’m not going to get into the Gamestop thing. There are plenty of other places you can read about it. Finance Gourmet isn’t really about day-trading or riding trends like this. What Finance Gourmet IS about is providing financial information and data to investors. I didn’t even get a chance to finish updating my Robinhood vs Stash vs Acorn post before Robinhood changed its reputation forever. (This is why I chose to just publish the mega post and keep editing it rather than waiting to fill in all the blanks) Robinhood Halts Trades to “Protect” Traders Robinhood today halted BUYS ONLY on several stocks that were being pushed higher by internet-based trading groups. In other words, you are welcome to sell and relieve the price pressure that is hurting hedge funds, but you can’t buy, because Robinhood is protecting you from yourself. Robinhood is the same platform that allowed a trader to rack up millions in debt over dubious trades until he killed himself. It claims to democratize trading by offering trading to the masses, so long as those masses don’t make a mess, apparently. But, this Gamestop thing is making its hedge fund masters uncomfortable, and well… now it …