Sources: Robinhood has drawn down some of its credit lines with banks, tapping at least several hundred million dollars
Robinhood Markets, the trading app that's popular with investors behind some of this month's wildest stock swings, has drawn down some of its credit lines with banks …
so isn't it a huge problem for their model that they've got to do this if stocks go viral, and stocks going viral is also kind of part of their model .... https://www.nytimes.com/...
Between this statement from Robinhood https://blog.robinhood.com/... And this scoop from Bloomberg on them drawing down their credit lines https://www.bloomberg.com/... Becoming a little more clear what happened today.
See statements below. Robinhood seems to have run low on credit due to this insane surge, and would have needed to go long on $X00M worth of GME. Way too risky given guaranteed eventual drop. So they shut it down. 1) https://www.bloomberg.com/... 2) https://blog.robinhood.com/...…
The modern Lehman Bros, BK is coming to Robinhood. Move your money now. We're happy to help. We can get the ACAT going tomorrow. Seen this pony ride before. https://gerberkawasaki.com/ https://twitter.com/...
you're.. you're thinking of this place all wrong, as if i had the money back in a safe. your money's not here https://twitter.com/... https://twitter.com/...