The options market is alive and well
19: The number of times GameStop shares were halted today in trading d/t market volatility and broker trade suspension
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Here’s more for the stubborn Short Squeezer
Whatever this company does
Some tech news
Suspending the primary source of demand on GME, AMC etc via Robinhood may have given the hedgies that were losing billion dollar per day enough time to liquidate their massive short positions. This is just a speculation. If this is true, then the concept of ‘free market’ is distorted.
CoinTelegraph article on today’s GME, AMC suspension by ROBINHOOD
The connections between trading app Robinhood, Citadel hedge fund, Melvin Capital, and GameStop are becoming clearer as the Internet burns with outrage over allegations of market manipulation.
According to a June report from the Financial Times, $39 million of Robinhood’s revenues from equities and options order flow came from Citadel Securities, a market maker sister firm of Citadel. At the time, this represented more than 35% of the trading platform’s revenues.
In summary, Citadel is one of Robinhood’s biggest customers. Citadel invested in Melvin, which is potentially facing trouble because a bunch of investors from Reddit decided they didn’t like a major hedge telling the market to crush GameStop. Many of the Redditors used Robinhood to buy GameStop shares. Now Robinhood has severely restricted trading for GameStop.