Robinhood halts GameStop trading, sells users stock WITHOUT consent?!

Robinhood halts GameStop trading, sells users stock WITHOUT consent?!

Robinhood selling users’ GameStop ($GME) shares AUTOMATICALLY, without warning — and it’s pissing lots of people off big time. JP Morgan has outlined three key reasons why investors should add bitcoin to their investment portfolios. Small allocations to cryptocurrencies would “improve portfolio efficiency due to high returns and moderate correlations,” JPMorgan’s analyst explained. Some people might be eligible for tax breaks for the first time due to COVID-19.

Robinhood selling users’ GameStop ($GME) shares AUTOMATICALLY, without warning — and it’s pissing lots of people off big time.

Anthony Garreffa

Published Thu, Jan 28 2021 3:14 PM CST   |   Updated Thu, Jan 28 2021 5:06 PM CST

The huge financial drama surrounding the US markets right now with Reddit and its fully viral r/WallStreetBets pushing GameStop and AMC shares through the roof. Well, Robinhood is stopping retail investors from getting in on the wave, and even selling their shares automatically.

Robinhood users began noticing their $GME shares being sold without warning, with Robinhood alerting users that due to “recently volatility, we are restricting transactions for certain securities to position closing only. However, due to unreasonable risk involved in brokering your position, we have closed your 4,500 shares of GME for an average price of $118.93 on January 28th, 2021 at 11:24 AM”.

The notice from Robinhood continues: “Your trade confirmation will be available in your order history on Robinhood in one trading day”.

Nevermind that GameStop stock was $450+ — but hey, can’t have the little guy doing what the big guy does, and getting away with it. You see, they don’t like you taking a look behind the veil and pulling the levers yourself. This is only going to get bigger.

Robinhood halts GameStop trading, sells users stock WITHOUT consent?! 08 | TweakTown.com

Source: www.tweaktown.com

Author: Anthony Garreffa


JP Morgan Gives 3 Reasons to Add Bitcoin to Investment Portfolios – Markets and Prices Bitcoin News

JP Morgan Gives 3 Reasons to Add Bitcoin to Investment Portfolios – Markets and Prices Bitcoin News

JP Morgan Gives 3 Reasons to Add Bitcoin to Investment Portfolios

JP Morgan has outlined three key reasons why investors should add bitcoin to their investment portfolios. Small allocations to cryptocurrencies would “improve portfolio efficiency due to high returns and moderate correlations,” JPMorgan’s analyst explained.

JPMorgan released a report last week entitled “What cryptocurrencies have and haven’t done for multi-asset portfolios.” Published by the firm’s head of Cross-Asset Strategy division, John Normand, the report explores cryptocurrencies’ use for portfolio diversification.

Before discussing the reasons to have BTC in portfolios, the report acknowledges that “Bitcoin has already achieved the fastest-ever price appreciation of any must-have asset to which it is often compared,” such as gold in 1970s, Japanese equities in 1980s, U.S. tech stocks in 1990s, Chinese equities in 2000s, commodities in 2000s, and FANG stocks in 2010s.

JP Morgan Gives 3 Reasons to Add Bitcoin to Investment Portfolios

While noting that bitcoin is highly volatile, the analyst hypothetically asked: “Why bother considering an unconventional and high-volatility hedge?” He then answered his own question by giving three reasons.

Firstly, “Equity and credit valuations look record-rich for a very young business cycle,” the report details. Secondly, “conventional hedges like DM bonds barely serve as insurance when US 10Y rates are near 1%.” The report elaborates that the collapse of DM bond yields to negative levels in Japan and Europe and to 1% in the U.S. has forced investors to focus on alternative investments.

The third reason concerns “some as-yet unseen shocks (materially higher inflation, economically-debilitating cyber attacks or climate catastrophes),” which the JPMorgan analyst believes “could favor an asset that operates outside conventional financial channels.” For example, Normand cited extraordinary monetary and fiscal stimulus over the past year, which creates general concerns about portfolio vulnerability to a macro or policy shock.

The JPM analyst further asserted that “the mainstreaming of crypto ownership is raising correlations with cyclical assets, potentially converting them from insurance to leverage.” Nonetheless, he noted that for long-term portfolio efficiency:

Small (up to 2%) allocations to cryptocurrencies still improve portfolio efficiency due to high returns and moderate correlations.

As for shorter-term diversification, Normand wrote: “Over shorter intra-month and intra-quarter horizons, crypto assets continue to rank as the poorest hedge for major drawdowns in global equities, particularly relative to the fiat currencies like the dollar which they seek to displace.” In addition, he was quoted as saying:

Crypto continues to rank as the least reliable hedge during periods of acute market stress.

Meanwhile, another JPMorgan analyst has forecasted that the price of bitcoin will reach $146K as competition between the cryptocurrency and gold heats up. Earlier this month, JP Morgan said that the approval of a bitcoin exchange-traded fund (ETF) this year could cause a price drop. Nonetheless, the firm sees $600 billion demand from global institutional investors for bitcoin.

Do you agree with JPMorgan? Let us know in the comments section below.

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Source: news.bitcoin.com

Author: by
Kevin Helms


How to get the most COVID financial relief when filing your taxes

How to get the most COVID financial relief when filing your taxes

The $600 stimulus could affect your upcoming tax refund

FORT MYERS, Fla. — Nobody likes to do their taxes, but everyone who made some money should file a federal tax return this year.

Even if your 2020 income was so low that the IRS doesn’t require you to file, you still should. You could get back more money than you think, or at least lower your tax bill.

A number of COVID-19 relief provisions may be claimed in full only through your tax return. Some credit rules have become more advantageous as a result of the pandemic.

Some people might even find themselves eligible for tax breaks for the first time due to COVID-19.

The IRS will start accepting returns on February 12 and the filing deadline is April 15, unless you apply for an automatic extension. By filing on time you will avoid being charged a penalty for filing late.

If you earned less than $75,000 as a single person, $112,500 as head of household or $150,000 as a married couple in 2020 and haven’t gotten COVID relief payments from the federal government, filing your federal tax return will be the best way to get the full amount of the two economic impact payments for which you’re eligible.

For the sake of speed, the IRS shipped out payments based on the 2019 tax information it had as well as information it had for Social Security recipients. So people who didn’t file a federal tax return in 2019 or whose 2019 income was above the 2020 income eligibility thresholds for the stimulus payments may not have received what they are owed. 

To get the payment you’re owed, you must claim the refundable Recovery Rebate Credit. The credit will be awarded in the same amount as the stimulus payment for which you are eligible. Refundable credits reduce your tax liability dollar-for-dollar. If a credit exceeds your tax liability, the rest will be sent to you as a refund.

The-CNN-Wire™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

Source: nbc-2.com


Robinhood halts GameStop trading, sells users stock WITHOUT consent?!

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