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Citadel allegedly reloaded Shorts on GME before Robinhood put restrictions

165 points| vthallam | 5 years ago |twitter.com | reply

31 comments

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[+] bhouston|5 years ago|reply
If I learned anything from watching Billions is that the fix is usually in and it is between the guys with lots and lots of money.

What an amazing inside trade -- knowing or forcing the Robinhood App to restrict the large majority of WallStreetBets from buying, and then shorting the hell out of it.

And they will probably get away with it too, which I also learned from watching Billions.

[+] airstrike|5 years ago|reply
> learned from watching Billions

You know, it's a TV show, not a graduate level course on capital markets.

[+] jinonoel|5 years ago|reply
I can't wait for inevitable Billions episode about Gamestop. Dollar Bill is probably going to lose it :)
[+] engineeringwoke|5 years ago|reply
Absolutely not, this is fucking insane. Ken Griffin is going to jail.
[+] ackbar03|5 years ago|reply
There might be another layer to this story. Citadel securities is one of the major market makers that handles orders for Robin hood. I'm guessing they most likely were given a heads up. Granted the hedge fund is separate from the market making business but who knows right
[+] nceqs3|5 years ago|reply
Yeah even if one POD at Citadel (hedge fund segment) was short GME or increased GME short before Robinhood GME stop there will be many fingers pointed.
[+] reducesuffering|5 years ago|reply
How about confirming your "tip" is true before further inflaming people with rhetoric about jail and warfare?
[+] socialist_coder|5 years ago|reply
It is class warfare though... Only the elites are allowed to win here. How else can you describe that other than class warfare?
[+] Lionga|5 years ago|reply
Justin mentions it is a tip and puts his reputation on the line to get the news out. How about having some balls to put your name on what you believe to be true?
[+] reducesuffering|5 years ago|reply
Justin's "tip" was incorrect and he's spreading disinformation.

"To be clear, this was a risk-management decision, and was not made on the direction of the market makers we route to." - Robinhood[0]

[0]https://blog.robinhood.com/news/2021/1/28/an-update-on-marke...

[+] p_j_w|5 years ago|reply
Unless there's some transparency and investigation of the matter, it's harder to believe than it is for them to say it.
[+] Arubis|5 years ago|reply
[Citations needed.]

This would be significant, important news if true. Without confirmation, it's just fanning the flames.

[+] paulmd|5 years ago|reply
while I have some sympathy for the "letting retail traders coordinate to cause havoc in the market probably isn't the best thing" argument...

lol fuck these guys, this apparently couldn't have happened to nicer people