based.press

a raw mirror — the archive they can't memory-hole

+ submit

As Robinhood Shuts Down GameStop Shares, Demand Emerges For Decentralized, Censorship-Resistant Trading

· link → forbes.com #finance

investing for everyone except when everyone starts winning, then investing for Citadel

Robinhood Investing for Everyone Commission-free investing, plus the tools you need to put your money in motion. Sign up and get your first stock for free. Certain limitations apply. Free Stock Disclosure

In return for access to order data, Robinhood has sold about $69 million of information in 2018 to give firms like Citadel Securities more information than is available to retail investors — specifically, first access to trade patterns a few milliseconds before they get filled. This was said to be about more than 40% of Robinhood’s total revenue in 2018 by three anonymous sources in Bloomberg, something that looks to have invited a SEC probe. This allows for automated trades to have an edge with faster data than the rest of the market. The old adage holds true here — if you’re not paying for the product (after all, Robinhood built its userbase on the premise of commission-free trades) then you probably are the product.