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Showing posts from January, 2021

What Happened with Robinhood?

 If you have not heard by now, there was been a couple names on the stock market that have undergone exponential growth within a short period of time relative to their stock price. Some of these names include NOK, GME, and AMC (each up 152%, 2,700%, and 913%, respectively, from January 4th to their respective recent all time highs of January 27, not a coincidence. GameStop also went from a market cap of $1.203 billion to $18.24 billion (daily closing values)). These parabolic runups in these three names were principally organized by the likes of those on WallStreetBets, and I think we all know who they are at this point. After crazy amounts of realized volatility within these three names, Robinhood blocked order executions on GME in particular, causing hundreds of thousands of people (there are about a million people on the forum, and I am sure others outside of that were invested into these three securities) to lose money extremely quickly, with GameStop in particular falling from a h