robinhood is forcing the sale of thousnads of privately held stocks at less than half of their market clearing value!https://twitter.com/seconds_0/status/1354868476687486976 …
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more info: according to the same source it is ‘legal’ under ‘section T’ (idk anything about this)https://twitter.com/seconds_0/status/1354870955223339009 …
Agree. If these shares were bought on Margin then yeah 1000% RH should close them out since the exposure is on RH if the trader can’t post margin.
it should be processed through a mragin call which gives you time to reposition. they might have changed the margin requirements
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