... and an interesting few tweets from Tesla Uber-Bull Ross Gerber on the subject:
"Robinhood is basically not letting people trade anymore. This is the precursor to a potential BK filing on Monday morning. They'll be calling their VC backers for billions more this weekend. And when they say No... this is like LTCM," Gerber tweeted.
He said, "So if Robinhood goes under the SEC will freeze all the accounts. The SIPC protects up to $500k in accounts. It takes months to unwind and get your money back. Move the money now. This could become a nightmare."
"Robinhood is dealing with the classic run on the bank scenario. Everyone wants out but they can't process it fast enough depleting needed capital as fast as they can get new VC Capital in. So they need to put up more margin and they are losing Capital out the door," Gerber warned.
