Finance

Robinhood has now entered full blown crisis mode as even more stocks are restricted
Finance

Robinhood has now entered full blown crisis mode as even more stocks are restricted

Amid reports that Robinhood executives are in bed with the hedge funds another report has surfaced. According to multiple reports out Saturday afternoon, Robinhood now claims that the reason why it restricted so many stocks is because that its cash reserve was running low. Editors note: When Robinhood references its cash reserve at least in this instance they are referencing their "Instant Deposit" feature. It is similar to borrowing money from a pal and then paying them back. Now back to where we started. According to the company, more than 50 stocks including Starbucks and General Motors, have all been suspended until further notice. The move as explained comes in part because Robinhood can't afford to be the Robinhood in which it was designed t o be. As a result of the int...
Report finds that Robinhood ‘s customers are hedge funds like Citadel and others as backlash grows
Finance

Report finds that Robinhood ‘s customers are hedge funds like Citadel and others as backlash grows

Editors note: Let's consider this article part of our "Series" article series where we do our best to teach and inform our readers (you) of something we think you should directly know about. In this article, we're going to fully explore Robinhood and how it makes money through its relationship with a firm called Citadel. Citadel is a billion-dollar hedge fund. It's important here that people understand how exactly Robinhood makes its money because it is not quite how they make it seem (although the practice itself is fairly common.) Robinhood makes its money by selling its user data and orders to large firms like Citadel for a pretty check. The assumption that brokerage firms like Robinhood work for the big guy isn't an assumption at all because it is very accurate. The formu...
Finance

#Dogecoin has soared and stood, here’s what you need to know

Having started as a joke meme about a Shiba Inu Dog, Dogecoin is now a very real thing despite the jokes that come with it. Yesterday as the Gamestop trend came, Dogecoin came right behind it with record surges. For starters on Wednesday the coin was trading for just a cent or two. As of 0648 EST the coin is now trading for just below 5 cents -- a record first for something that was not initially meant to be a real thing. The losses so far have been timid. We've held our spot on #Dogecoin since last night and the return has come back just as fast as it was lost. It is safe to hold the Doge, throw in what you can spare to lose and leave it there. That is what makes the price go up and in return makes your returns go higher. Dogecoin is trading for all of about 5 cent...
Citadel; Robinhood, short-selling stocks, and Melvin Capital Management
Finance

Citadel; Robinhood, short-selling stocks, and Melvin Capital Management

The names you see above are the names of people you should remember in the distant future. If you're just now signing on, chances are you're catching up to the discovery that hedge funds are reportedly crashing thanks to an internet revolution of sorts. A revolution that in part was started by an online group on Reddit only known as "WallStreetBets." - Due to the extraordinary interest involving this topic, a follow-up explainer has been published on Citadel & Robinhood. - A secondary 1/30 follow up has been published. Despite some arguments otherwise the group does not appear to be alt-right affiliated at all. In fact, they appear to be ordinary people who have had enough with crooked investors using weird tactics to bankrupt companies and others. This is where ...
Robinhood has suspended  $AMC $GME and more as a wild day of stock trades and buys takes flight
Finance

Robinhood has suspended $AMC $GME and more as a wild day of stock trades and buys takes flight

Popular US stock app Robinhood is once again in the news for attempting to bilk its customers in favour of the rich. Shortly after 0815 am local time, Robinhood suspended trades on the stock market for GME (Gamestop) and places like AMC (the popular movie chain.) The suspension comes amid Wall Street trying to find a way to stop people from buying the stocks because the investors losing money can't benefit when that happens. The problem Wall Street is having is that they're notorious short-sellers. Short-sellers don't make money when things go high but instead when they go low. Robinhood has since released the following statement: Here is the statement by Robinhood:“We continuously monitor the markets and make changes where necessary. In light of recent volatility, we are r...
Finance

We the People vs Wall Street ( $AMC $GME )

Hedge funds in America have posted near record losses in a matter of days. Part of those losses come from the fact that they wouldn't of made those gains had someone else not lost. It's called short-selling. Short-selling is defined as: Short selling occurs when an investor borrows a security and sells it on the open market, planning to buy it back later for less money. Short sellers bet on, and profit from, a drop in a security's price. This can be contrasted with long investors who want the price to go up. This is a popular tactic with investors who intentionally seek the stock market to go low rather than high. Enter: companies like Gamestop; AMC, and others. As a result -- a popular reddit group popped up online this week. It is called WallStreetBets and the grou...
Finance

A U.S guide for people with an Onlyfans account and the need to pay their taxes on time

It’s that time of the year (almost) — we’ll also be doing a UK guide up next. Onlyfans is a major premium subscription site these days that almost every one has one. Whether you do X-Rated things on there is a different story as the site is a host of many different types of people. That’s not what is important here — what is important here is that despite popular belief creators still pay their taxes just like anyone else. And creators who knowingly avoid their taxes — you guessed it — are subject to tax penalties by the U.S government. Let’s dispel one of the biggest misconceptions people have about Onlyfans. No matter the country you are in, indeed, you are considered self employed. You’re not an Onlyfans employee therefore you will get what is called a 1099 (at least that’s wh...
Finance

Elon Musk is now the 2nd richest man on earth

Because you know 2020 has shown us that billionaires are only getting richer while the commoner isn’t. According to Bloomberg ‘s Billionaire Index, Tesla founder Elon Musk is now worth upwards of $127B. That figure makes him the 2nd richest man on earth behind just Jeff Bezos who founded Amazon. The figure also puts him past Bill Gates, however, Bill Gates would have retained his spot had he not donated humungous chunks of his fortune to charity.
What is Quadpay, and why you should be using it
Finance

What is Quadpay, and why you should be using it

Last week a reader e-mailed me asking me to give Quadpay a spin and explain what it was all about. Low-and-behold, I've now found myself with a probable new shopping addiction because of Quadpay. For those that have never even heard the name before, Quadpay, is a millennial focused financing service that allows people. to pay in interest-free. instalment payments on items purchased from thousands of retailers. To test out the service, I bought that now infamous yellow sweatsuit from Fashion Nova you might've seen on my Instagram. Signing for up Quadpay is pretty simple. It does not require a credit check and is actually pretty straight forward. One can expect to sign up with an active e-mail; phone number, address, and a working bank card. Your item or item(s) are spread ...
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