Robinhood now has a 1-Star rating on the Google Play Store(play.google.com)
play.google.com
Robinhood now has a 1-Star rating on the Google Play Store
https://play.google.com/store/apps/details?id=com.robinhood.android&showAllReviews=true
523 comments
One of the good things I see coming out of Robinhood blocking trading, Twitter and Reddit booting problematic users, Parler getting vaporized, etc. is a sudden realization amongst people of just how easily major parts of their lives can be instantly turned off by intermediaries.
My hope is that this will drive a reformist movement around digital rights (speech, commerce, etc.) As well as a movement from platforms to protocols.
My hope is that this will drive a reformist movement around digital rights (speech, commerce, etc.) As well as a movement from platforms to protocols.
When retail in traders en masse decide that a trading platform is impinging upon their rights, the SEC should be obligated to open an investigation. Isn't this pretty much a major component of their intended purpose?
Just as I was wondering how many retail investors might be involved:
https://news.ycombinator.com/item?id=25947674
From the number of Playstore votes it seems quite a few?
Will be interesting to see if it stays that way. Or if they can somehow cheat their way out of it and get all recent ratings deleted or something.
Any guesses?
https://news.ycombinator.com/item?id=25947674
From the number of Playstore votes it seems quite a few?
Will be interesting to see if it stays that way. Or if they can somehow cheat their way out of it and get all recent ratings deleted or something.
Any guesses?
I think it is ridiculous that Robinhood took the matters in their own hands to halt trading on GME. If anyone had to do this was the SEC. It is just outrageous.
Serious question: Since RobinHood is a private company, does the "if you don't like it, you can build your own platform" argument apply here? Or does that only apply selectively when it benefits partisan politics?
This is the natural evolution when censorship as we've recently seen is given a pass.
This is the natural evolution when censorship as we've recently seen is given a pass.
The reason why this happened is that their clearing house stopped fulfilling their orders (totally out of their control,) but Robinhood bungled this so badly, I honestly wonder if they'll ever recover. WeBull had to do the same thing but they have a clear reason rather than "protecting investors" etc.
Robinhood phrased their message as if it was for user's own good. Moralizing everything beyond protocol and rules and law has serious consequences. It does nothing but driving people cynical. Didn't the elites learn the stories of USSR political jokes, the stories of how East Germans (and ancient Chinese people) talked to each other via eye contacts only? It's not hard to guess what will happen when enough number of people stop trusting the system. For that matter, I'm so glad that AOC and Td Cruz can agree with each other to probe Robinhood's practice.
That sound you hear is the evaporation of billions in pre-IPO Robinhood equity vanishing based on both a poor decision (to disallow buying of a stock that others could still buy) and worse, poor execution on their site that didn't make it clear how narrow the blocking was.
Those customers who have left Robinhood will never come back and it will take years to recover, if ever.
Those customers who have left Robinhood will never come back and it will take years to recover, if ever.
I'm surprised the app stores (well, at least the play store) don't have hysteresis built in to prevent mobbing the ratings, just in general.
Most of the other brokerages (Schwab, Etrade, and TD Ameritrade, but NOT Fidelity and Vanguard according to the reports I am getting) are participating. According to the rumor on Reddit https://www.reddit.com/r/ClassActionRobinHood/comments/l723k... the call came from the White House.
Can someone who knows more about such things than I explain to me why their weird response to the situation (halting buying, but still permitting selling) was deemed by them to be the best of their options (the other two obvious ones being to temporarily stop dealing in those securities entirely (halting buying and selling), or to continue letting people trade them as they had the previous day)?
It's confusing to me. I'd think if they were being risk-averse or something they'd have stopped dealing in them entirely until the craziness passed. The "you can only sell, not buy" part seems... odd to me.
It's confusing to me. I'd think if they were being risk-averse or something they'd have stopped dealing in them entirely until the craziness passed. The "you can only sell, not buy" part seems... odd to me.
Citadel reloaded shorts before RH cut off gme and the rest
https://twitter.com/justinkan/status/1354853920762253315?s=2...
https://twitter.com/justinkan/status/1354853920762253315?s=2...
Gamestop is not supported on Robinhood. I get a message -- " This Stock is not supported on Robinhood"
You're all free to rate it on iOS too...
https://apps.apple.com/us/app/robinhood-investing-for-all/id...
https://apps.apple.com/us/app/robinhood-investing-for-all/id...
I predict Google will whitewash their rating within a month.
It's not even that it rounds to 1 star, it's actually 1.0 stars (according to the aria-label on the HTML). The difference between a 1.4 and 1.0 is huge in terms of what percent of reviews are actually favorable.
I honestly feel bad for all the employees, especially the early ones with equity that were looking forward to cashing out after the IPO - now they have to deal with immensely negative PR and federal investigations.
Is there actual proof they colluded with Citadel, or is that just speculation? I'm very confused?
I'm not sure if this is new as of today - but to close (deactivate) your robinhood account, you need
1. No outstanding trades 2. a $0.00 balance 3. Contact support and (optionally?) give a reason
(1) and (2) make sense, but is (3) new?
I wonder if there is a mass exodus - there should be.
1. No outstanding trades 2. a $0.00 balance 3. Contact support and (optionally?) give a reason
(1) and (2) make sense, but is (3) new?
I wonder if there is a mass exodus - there should be.
Alpaca sent me a notice this morning that they are also restricting trades. It's network behavior like this that is troubling.
Not allowing users to purchase shares and also selling owned shares against the wishes of users will have that effect.
I smelled a rat in Robinhood back when they first showed up. When something goes from paid to free, the only appropriate response is to question how that happened, and what changes in motivation now exist.
I feel like this action from Robin Hood saved a lot of retail trader from self harm.
A lot of people are clinging to the hope that whatever came out of shorts covering their position being false. Whereas given the volume of the previous days it's highly likely they've already gone. Whoever goes in at this point is likely going to end up losing everything.
A lot of people are clinging to the hope that whatever came out of shorts covering their position being false. Whereas given the volume of the previous days it's highly likely they've already gone. Whoever goes in at this point is likely going to end up losing everything.
[deleted]
Well earned.
Bowing to the whims of established trading firms to protect said firms being squeezed by a crazy army of day traders is a great way to ruin the rep your “Robinhood” trading app stands for. Score one for the little guy.
I’m hoping RobinHood gets sued out of existence and many of these hedge funds burn. The industry’s response to this is stupid and classist: “we can’t have randos making money...” as irrational as the system is it is working as is.
I’m hoping RobinHood gets sued out of existence and many of these hedge funds burn. The industry’s response to this is stupid and classist: “we can’t have randos making money...” as irrational as the system is it is working as is.
I wonder what percentage of Robinhood users hold GME - if it's more than 25% I'd say they're finished. If we assume 25% of users hold GME and 80% of GME holders will not return after this fiasco that's extremely significant IMO.
Not to say that they'll cease to exist, but I doubt they'll remain the "#1 trading platform."
Not to say that they'll cease to exist, but I doubt they'll remain the "#1 trading platform."
This is interesting in that it provokes the question of what an app's rating "means". Clearly, if you were getting the app because you expected to be able to trade GME and you can't, then this is a good signal not to get the app. But not all "protest votes" of this sort may be equally good signals.
I had already transferred all my stocks from Robinhood to my company provided Fidelity account sometime back after reading about their shady practices last year:
https://www.sec.gov/news/press-release/2020-321
https://www.sec.gov/news/press-release/2020-321
The current thread is paginated like all the other big threads (to spare our poor server—yes, we're working on it). If you want to see all the comments you'll need to click through the More links at the bottom, or like this:
https://news.ycombinator.com/item?id=25947697&p=2
https://news.ycombinator.com/item?id=25947697&p=3
(and so on)