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hey everyone well this smooth brain-powered rocket ship just keeps on going into a seemingly never-ending dumpster fire and i for one am here for it if you aren't familiar with the gamestop situation then check out my last video i'll leave it here and watch that first because you need some context if you are familiar with what's going on then what some of these brokerages are doing should come as no surprise because who did we honestly think the brokerage that just wanted to let the people trade would side with the people or the massive investment firms robin hood tweeted out that in light of current market volatility we are restricting transactions for certain securities to position closing only including amc and gme everybody hear that they aren't allowing people to buy amc or gamestop shares you can only close positions so let's think about this for a second and we'll keep things simple if people want to buy a stock demand goes up and stock price goes up accordingly if people want to sell a stock then demand goes down and the price goes down also so when robinhood says that people can't buy amc or gme well that means that demand is artificially being pushed down at least on robinhood's platform which will in turn lower the stock price and who does a lower stock price benefit well anybody that had an absolutely idiotic short position on either of these stocks what this policy is doing is taking some of the momentum out of the rocket ship of a short squeeze that's been occurring on these investment firms and it isn't just robin hood that froze the buying of these stocks td ameritrade also restricted trading i also heard anecdotal reports that weibull had it as well but i have a weeble account and so i went to check it myself and i was able to purchase the share just fine so i'm not exactly sure what to say about that one and i'm sure there are other brokerages that are also restricting trading this is not a comprehensive list but it doesn't stop there i was sent this by a guy on twitter and i've been unable to verify if it's true or if it's been manipulated through photoshop or something so take this with a grain of salt it's an alleged message between robin hood and a robin hood investor that says in light of recent volatility we are restricting transactions for certain securities to position closing only however due to the unreasonable risk involved in brokering your position we have closed your 4 500 shares of gme for an average price of 118 on january 28 2021 at 11 24 a.m now we basically have two options that i can figure out the first is that the investor bought these stocks with his own cash and robin hood without his consent has sold his shares i find this highly unlikely but it could happen the second and what i believe is much more likely is that this guy bought gme shares on margin which basically means that robin hood gave him a loan which he then used to buy the gme shares and if that's the case it could be that robin hood gave him a margin call meaning that the investor would need to add more funds to meet the minimum margin requirements i'm not sure but that's what sounds most likely to me but let's take a closer look at the message robin hood sold his shares at 118.93 per share with 4 500 shares that's around half a million dollars so this isn't chump change if we look at gamestop's stock price throughout the day the lowest i can find that they hit was a hundred and twenty six dollars in one cent and that's the absolute lowest i could find so robin hood not only sold his shares without his permission but they sold it at seemingly the lowest price possible and that might be one thing except that robinhood has gotten caught doing this before earlier this year the sec filed charges against robin hood for doing this exact same thing saying quote the securities and exchange commission today charged robin hood financial llc for repeated misstatements that failed to disclose the firm's receipt of payments from trading firms for routing customers orders to them and with failing to satisfy its duty to seek the best reasonably available terms to execute customers orders robinhood agreed to pay 65 million to settle the charges the order finds that robin hood provided inferior trade prices that in aggregate deprived customers of 34 million even after taking into account the savings from not paying a commission robin hood made these false and misleading statements during the time in which it was growing rapidly that's coming straight from the sec showing that robin hood has a history of giving their retail customers inferior trading prices the reason that substantially lower price matters is because the institutional investors who are currently short on gme shares are held to the selling price of those shares if the shares sell for a lower price the short sellers don't lose nearly as much money the price difference during the day is that those shares were sold at around 118 dollars versus the rest of the time the shares were trading in the 200 to 400 value that's between two and four times as much and this matters now this next part is just my opinion i'm not claiming this to be fact but it seems to me that robin hood intentionally sold their investors shares at the lowest price possible in the day in order to help out the institutional investors who are shorting gme if you look at the stock price throughout the day they literally could not have sold at a worse time for their investors and then you also have things popping up like this which is a screenshot of robinhood and again i haven't verified this to be true it could be a doctored screenshot we don't know but it appears to be showing an investor's account where robinhood the company placed a sell order on the investors gme shares and when the investor tried to cancel the sell order it said that the order can't be cancelled robinhood placed it to mitigate the risk to your account now again we don't have any background on this screenshot nor do we know if it's real or not but the general conclusion that's being drawn is that if you're invested in game stock on robin hood with any margin at all which again is like getting a loan from robin hood then they will sell your shares without your permission and you have no ability to intervene and to make matters worse it appears as though not only will they sell your shares for you but they're going to sell at the lowest possible price essentially screwing you over at every single corner changing gears a little bit i want to address some of my favorite tweets that have been circling around the issue you have the likes of ben shapiro who if you don't know is a right wing conservative tweeting note robin hood absolutely should not be stopping trading of gamestop market mechanisms include the reality that some people will attempt to gain the market mechanisms and some will pay the price restricting who can buy and sell is using a hammer on the free markets and i'm really glad he spoke up but you might think it's just the right that's up in arms about the situation but then you also have aoc who's a liberal stating quote this is unacceptable we now need to know more about robin hood's decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit as a member of the financial service committee i'd support a hearing if necessary and you even have ted cruz agreeing with aoc's tweet now i'm not trying to make a political statement i try and keep this channel as apolitical as possible but when you have the right and the left coming together to condemn something you know that something is really bad so if you're anything like me you're pissed pissed that this is going on pissed at how the media covers it and defends these hedge funds pissed at these greedy corporate fat cats trying to escape the horrible investments they made and screwing over the working class in the process and pissed at these brokerages for manipulating the market by restricting free trade so here's what i'm going to do and i suggest you think about doing something similar right now i do most of my trading with robinhood although i do use a few other brokerages my primary one is robinhood because robinhood has taken a stance against free trade through their recent actions i'm going to be taking my business elsewhere i haven't decided on who my main brokerage is going to be yet but i know it's not going to be robin hood or td ameritrade and i highly recommend if you find this sort of behavior detestable as i do don't give these businesses your money trade elsewhere we vote with our dollars and we can make sure robin hood knows that what they're doing is wrong and we won't stand for it also i'm not sure who of my viewers is part of wall street bets but i just wanted to give everyone a taste of the sort of thing that's floating around there right now because it's some truly inspired stuff there are some awesome tweets so i just want to show them to you real quick remember when senators got coronavirus briefings before the public and sold off millions of dollars in stocks before the crash last year and faced no consequences and no regulation then reddit made one stock into a meme and they're talking about restricting the whole market bloomberg tv thomas peterfie said regulator brokers agreed that restrictions on trading because they believed the short squeeze would keep going and going so they had to stop the losses stop the losses for whom thomas who was at risk when hedge fund billionaires move markets they get bonuses when ordinary americans move markets they get shut down by wall street the system is rigged is there anything wrong with folks buying a stock like gamestop because they want to stick it to hedge funds no is there anything wrong with robin hood stopping people from buying gamestop or allegedly doing 4 cells likely google just deleted over 100 000 negative reviews of robinhood on their app store it's amazing how quickly regulators and platforms stop manipulation by average folks with smartphones wi-fi and a few bucks but they can't find it in themselves to hold the big banks accountable for the same wall street manipulations that actually ruin lives pro tip don't call yourself robin hood if you're going to turn your backs on the folks in sherwood forest after one phone call from the sheriff of nottingham and to wrap things up let's all take a solid look at the app store reviews for robinhood after their actions that's going to do it for this video please like and share this because people need to know just how corrupt this establishment is let me know how many gme shares you've got in the comment section below and thanks for watching [Music] you