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1. Explain what you did. One of the fund companies that sold Citadel short stock is Shikidna.
-We banned the purchase of 13 stocks and it was a very difficult decision. To be clear, customers were still able to sell’ and thousands of other stocks were available for sale. It was a really difficult decision and we had to make it.
2. That’s why you made that decision. There was an SEC order to do it. Was there a liquidity problem in the company?
-First of all, I want to correct the misconceptions, but we have not been forced by any other hedge funds or institutions.>-The reason for that decision is that Robin Hood is a broker and must meet many requirements, such as net capital ratio regulations. Recently, market volatility has fluctuated a few of those regulatory ratios, and recent intensive buying of certain stocks has been unprecedented, forcing companies to limit purchases to protect Robin Hood and customers.
3. That sounds like there’s a liquidity problem at the company.There is no >-floating problem. Robin Hood is the No. 1 broker in the App Store and of course we are on all customers’ side. We also think that customers should be free to trade. So this restriction was very painful for us, too.I’m not sure about this part. £££
4. £££ ££££ £££ ££: Let me know if there’s anything wrong.