6 ms·
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
by newfeatureok 6y ago
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."
- jzoch 6y agohalf of all americans invested in the market own some GME allegedly
- sitzkrieg 6y agoin an etf or fund, maybe
- sschueller 6y agoDidn't they want to expand to Europe sometime soon? I guess that is up in the air now after the regulators see this.
- spikels 6y agoCan’t find the link but I think I read earlier today it was much higher than 25%.
- Miner49er 6y agoAccording to Motherboard it's more than half. https://twitter.com/motherboard/status/1354798244455395328 https://twitter.com/motherboard/status/1354798244455395328 EDIT: This is untrue, please refer to jaywalk's reply.
- im3w1l 6y agoCan this really be true? It sounds so implausible that I'm not sure if I can take their tweeted word for it.
- mafuyu 6y agoI think GME is one of the freebie stocks that Robinhood gives out as a referral bonus, so many of those users might just have had one stock incidentally.
- reducesuffering 6y agoI can say with 99% certainty that they aren't just counting invidual $GME holders, but every one of Robinhood users that holds an ETF (like total US Market) that contains $GME... So this is really such a bad faith statement from Motherboard, because all of the ETF holders (probably 90% of the "half") can still sell their ETF's and thus their indirect $GME shares...
- whateveracct 6y agonothing like being disingenuous to ride the hype train
- jaywalk 6y agoAlthough they've left the tweet up, the article it links to says that this is incorrect: "Correction: An earlier version of this article stated that 56 percent of Robinhood users hold GME stock. This is incorrect, based on a misreading of a statistic on Robinhood. Motherboard regrets the error."
- Miner49er 6y agoAh, I was unaware, nice catch.
- deleted 6y ago[deleted]
- noitpmeder 6y agoFrom what I understand Robinhood's actions today only impacted derivatives of GME, not trades involving the actual underlying equity (which, I imagine, is what most people actually own).
- wmeredith 6y agoNope. They stopped buying of the actual equity. All you could do was sell.