A Retail Trader Who Quadrupled Her AMC Holdings to Half a Million Dollars is Trolling Citadel’s Ken Griffin with Plane Banners and Truck Ads (Business Insider) One retail trader isn’t letting up on her trolling campaign against Citadel Securities and its founder, Ken Griffin. The trader, 40-year-old Katherine Larsen of Oceanside, California, has bought mobile truck ads, plane banners, and Times Square digital billboards in an effort to elevate views of retail traders who feel they were harmed when Robinhood halted trading of meme stocks like GameStop and AMC, according to a profile from Institutional Investor. https://www.institutionalinvestor.c...der-Won-t-Stop-Trolling-Citadel-s-Ken-Griffin
i dont like trading halts but does this chick realize trading halts have been going on since the beginning of time for one reason or another? you cant fix stupid.
It seems like she is a newbie trader. AMC is in the uptrend. but that doesn't mean she will earn tons of $$$$.
I think the settlement issue was a real risk. GME was moving hundreds of dollars a second on millions of shares by retail investors trading on margin. The credit risk to the brokers must have been massive even if 1/2 their customers were long and 1/2 their customers were short.
Well, you don't break the circuit simply out of whim. There must be some sort of systemic risk. Only risk there was at the time was that Citadel, which was betting against retail traders, was about to lose its shirt (or, at the very least, lose its face) if left unchecked. So the question is was Robinhood pressured by Citadel or SEC, which probably has ties to the former?
if citadel had some big short position in other parts of its primary hft business,that would have come out in testimony to congress. i don't think that was the case.. other then that, citadel is in the hft business and doesn't care about stock direction. so im missing your point and this womens point.
Some of that may be legal grey territories. I'm not a lawyer, so I'm not certain. But 1. Selling order flow is anti-competition. We could see more regulation on that. 2. Exchanges have discretions to halt trading is security prices rise and drop rapidly or beyond the range of "reasonableness". I do not think brokers have the discretions as the exchanges have. So it was wrong for Robinhood to restrict clients buying new share just because it did not have the capital for the stock settlement. 3. There is the conflict of interest of Citadel ECN (?) and Citadel Investments. I'm sure there is Chinese Wall between them. But The Citadel ECN (?) should be spinned off to become independent. There is the clear lack of trust when one company owns both fund management and order taking or market maker. Well, for the traders who trade the MEME stocks and take the risks, they should know they are taking the risks. SEC and CFTC have not been doing their jobs for sure.
Exactly. I trade stocks all day long with penny spreads. I pay zero commissions and receive executions to 4 decimal places. Lit markets that give you better executions are a figment of the imagination. This is a gambit by old line wall street brokerage firms who can not compete with likes of Citade and Virtiu. In the old days and today market makers were good for 100 shares. If payment for order flow was made illegal I am not about to pay hundreds of dollars in commissions on a daily basis on some promise that I getting a better deal. The system is fine as is. If you don't like payment for order flow go to a firm that doesn't receive payment for order flow. My guess those those firms mentioned in the article praising the lit market are my guess probably being paid by brokerage firms who don't want their names mentioned in the campaign to delegitimize payment for order flow..
Ive had this very conversation with the folks at TD when they wouldnt let me open positions in GME.. i was really pissed until I heard their side of the story... The exposure to clearing agents is indeed massive on stocks like GME