>Robinhood users could not sell their GameStop positions while trading was frozen, a particularly difficult situation for those traders who borrowed money to purchase the stock.<p>This is false. You could close positions (ie. sell), just not open new positions.<p><a href="https://blog.robinhood.com/news/2021/1/28/keeping-customers-informed-through-market-volatility" rel="nofollow">https://blog.robinhood.com/news/2021/1/28/keeping-customers-...</a><p>>In light of recent volatility, we restricted transactions for certain securities to position closing only.
Robinhood walks a really fine line between a reputable broker and legalized gambling. There isn't much difference between Robinhood app and a casino app. I'm surprised they have been allowed to turn stock trading into a game.
One reason why we made <a href="http://brokenbrokers.com/" rel="nofollow">http://brokenbrokers.com/</a> is because brokers are so unreliable. Nearly once a week, outages prevent individuals from trading DURING TRADING HOURS.<p>In one poll conducted in the FinTwit community, about 70% of individuals said they could not trade because of an outage at some point. Wild.<p>We're hoping to bring light to this issue, and hold brokers responsible.
Critical observation:<p>""The risk of a single centralized party was realized at the worst possible time when the system could least tolerate it.""<p>I can't believe our SPOF actually F-ed!!<p>As is tradition.
Reminder that Robinhood are the folks who wrote the "infinite money cheat code" bug: <a href="https://www.youtube.com/watch?v=qKXrVriacUM" rel="nofollow">https://www.youtube.com/watch?v=qKXrVriacUM</a>