2 things: 1/ I asked RH about this on Thursday night. They would not comment on the record. 2/ This means it WAS a liquidity issue, albeit due to extraordinary circumstances. CEO said on CNBC there were no such issues.
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Robinhood says clearinghouse deposit requirements on certain stocks rose tenfold, resulting in "hundreds of millions" of extra dollars required.https://blog.robinhood.com/news/2021/1/29/what-happened-this-week …
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Kiitos. Käytämme tätä aikajanasi parantamiseen. KumoaKumoa
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Is this requirement impacted by (1) how aggressive RH is in allowing margin loans, and (2) how much their users take advantage of this? Insurance is priced relative to risk.
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Such things are certainly baked into the algorithm that determines the deposit requirement each morning.
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I’m reading this as “we have no liquidity”
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This is the problem with startups using the “just-in-time funding” model and using VC money to subsidize their users with shenanigans like this. “We’ll front users the money so that it feels instant/seamless” is super reckless when you’re running a trading platform.
Kiitos. Käytämme tätä aikajanasi parantamiseen. KumoaKumoa
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I think itll be interesting to know if the clearinghouse made these changes blanket to everyone or only certain institutions AND why. Why would RH/others that were in this position just immediately be OPEN about it from the jump.
Kiitos. Käytämme tätä aikajanasi parantamiseen. KumoaKumoa
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What happens to everyone if RH goes Lehman - given most RH accounts are on margin (and therefore don’t technically own the securities themselves)
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HOW IS THIS NOT A LIQUIDITY ISSUE??
@RobinhoodApppic.twitter.com/grePPpJ4dZTämä media saattaa sisältää arkaluonteista aineistoa. Lue lisää
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Yeah, especially when GM, AMD, n SBUX are volatile trades. People are just gonna stop driving Chevy trucks and drinking Starbucks. No more Corvette n Escalades will be sold. Right? Suuuure
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