Hacker News Reader

HNHacker News

Top New Best Ask Show Jobs

Comment by dannyw | Hacker News Reader

Full thread

dannyw·

“ Just got a tip that Citadel reloaded their shorts before they told Robinhood to stop trading $GME.

If this is true, Ken Griffin and the Robinhood founders should be in jail.

This is class warfare.”

https://mobile.twitter.com/justinkan/status/1354853920762253...

View on HN

If this is true than people will likely go to jail. The images of Ken Griffin being arrested outside his $230 million penthouse because of some redditors trolling will be quite the scene.

This seems pretty speculative and a huge risk for Citadel as an institution.

I think most of their profit is coming from volume as a market maker. They capture small dollars on the bid/ask spread.

Will be interesting to see the fallout if the SEC digs in more. But I would take this with a grain of salt.

Citadel also runs an active hedge fund.

It's troubling how blatant this is. They clearly have confidence that they will not suffer any adverse consequences, otherwise they'd have taken more steps to cover their tracks.

This looks ugly but how do we trust the anonymous Redditor who is claiming to be Robinhood employee.

That is so messed up, and that’s unfortunately how the whole world works. People in power will never give it up willingly.

They should be in jail, after being stripped of all their assets.

What about this should be illegal? Holding naked shorts? Or telling Robinhood to do something?

I'm taking it with a huge grain of salt and doubt it happened. But... assumming it did... calling brokerage firms to stop buy orders from retail investors so you can drive down the price of stock? If that isn't illegal what the fuck is?

You can "tell" anyone anything. Look, you're telling them right now they should open up trading for these stocks!

These HFT firms hold power over Robinhood - that's what TFA is about. This is actual market manipulation.

Reply on news.ycombinator.com