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Irelephant@lemm.ee

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Communism is when you can only buy one share of a stock (lemm.ee)

submitted 1 week ago by Irelephant@lemm.ee to c/facepalm@lemmy.world

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[–] Wilco@lemm.ee 32 points 1 week ago (1 children)

Limiting trade like that is market manipulation.

[–] untakenusername@sh.itjust.works 1 points 1 week ago (1 children)

I'm not entirely sure about that. Those people could always just buy GameStop from somewhere that's not robinhood. this mightve been something that they were financially forced to do, bc this trade limiting just seems like something that would lose them money

[–] PresidentCamacho@lemm.ee 5 points 1 week ago (1 children)

I'm not entirely sure about your take. If we say that this is fine and allowable, then you give a few large firms a huge lever to control the market with. If robinhood can limit investment to a specific stock, so could everyone, and at that point you allow them to decide the market through collusion, because you wouldn't need too many places to get on board to seal a companies fate.

[–] untakenusername@sh.itjust.works 1 points 6 days ago (1 children)

i see what ur saying, but as long as most companies don't restrict trade like this I don't see how Robinhood would be able to abuse this much

[–] PresidentCamacho@lemm.ee 1 points 5 days ago

Yeah, companies, those paragons of ethics would never do something to make money at social cost.