Robinhood App

[Allen]

Looks like there's some trouble with using the Robinhood app for buying and selling stocks, etc.

https://finance.yahoo.com/news/robinhood-users-had-accounts-looted-172938956.html

Just saw this and figured I'd put it on here as I know there are users on here of the app.

 

[guywhofishes]

horee crap would I be pissed

 

[Kurtr]

I’m still good other than I picked some bombs and they are way down

 

[Retired-Guy]

Comes by its name righteously....Robbing Hood!

 

[Sum1]

I’m not sure what to think about this. Makes me wonder how secure our 401ks are. You would think they would be just as easy to hack into.

 

[Allen]

I’m not sure what to think about this. Makes me wonder how secure our 401ks are. You would think they would be just as easy to hack into.

I think the problem noted in the article is the lack of response from Robinhood once a hacking was detected by the account owner. I think I'd probably cease to do business with any entity that said they'd get back to me in a "few weeks" after I notified them of an unauthorized transaction or withdrawal from my account.

 

[Sum1]

I think the problem noted in the article is the lack of response from Robinhood once a hacking was detected by the account owner. I think I'd probably cease to do business with any entity that said they'd get back to me in a "few weeks" after I notified them of an unauthorized transaction or withdrawal from my account.

Lol. True! True!

 

[AR-15]

I think our 401's are doomed anyway, the Democrats will steal it, if they get in

 

[Captain Ahab]

I think the problem noted in the article is the lack of response from Robinhood once a hacking was detected by the account owner. I think I'd probably cease to do business with any entity that said they'd get back to me in a "few weeks" after I notified them of an unauthorized transaction or withdrawal from my account.

Agreed. I would assume the customers would eventually be made whole if Robinhood is a SIPC member brokerage firm. Still a major PIA and horrible service. In all my training and industry alerts over the last 15 years, I have never heard of a hacking of funds on a major brokerage firm. Lots of other stuff but not a hack, sell and drain.

 

[3Roosters]

Darn, this is not good news. I decided to dabble in RobinHood a few months ago with a measly $100 bucks just to play with. Was kinda cool now that you didnt have to buy whole shares if you didn't want to, could just buy a portion of a stock if you so desired. I have like 9-10 different stocks..bought, sold, bought something else.. My $100 bucks is now at $156.45 so not a shabby return for a few months. Wish I would have gone in more..hahaha but maybe not now.

 

[Bfishn]

Agreed. I would assume the customers would eventually be made whole if Robinhood is a SIPC member brokerage firm. Still a major PIA and horrible service. In all my training and industry alerts over the last 15 years, I have never heard of a hacking of funds on a major brokerage firm. Lots of other stuff but not a hack, sell and drain.

Does the SIPC cover the hacking of a users info outside of Robinhood that's then used to steal money? I'm not sure that it does, but I could certainly be wrong.

[h=5]Does SIPC protect me if my account is hacked and cash and/or securities are stolen?[/h][FONT=&quot]SIPC’s role and responsibilities are as defined under the Securities Investor Protection Act (SIPA). Under that law, SIPC protection is available only to customers of a member broker-dealer that is in liquidation under SIPA or is the subject of a direct payment procedure. If you discover that your account has been hacked and your securities or cash have been stolen, you should contact your brokerage firm, the Securities and Exchange Commission (www.sec.gov), the Financial Industry Regulatory Authority (www.finra.org), your state securities regulator, or other appropriate law enforcement authorities. Whether you would be protected if your account was hacked would depend upon the circumstances under which your account was gained access to, and other factors being present that justify the liquidation of the brokerage firm.[/FONT]

 

[Up Y'oars]

I’m still good other than I picked some bombs and they are way down

I've done WONDERFULLY since January (when I signed up). I lost some thru the March 23rd bottom but it has rolled remarkably well since. I've kept a Google Sheets spreadsheet of my gains/losses and have profited over $4,500 as of last Friday. Nothing wrong with that!

My biggest winners: Moderna (MRNA), Alteryx (AYX), Pinterest (PINS)

The money gained went into the Nasdaq Spider QQQ when it dropped over 1,400pts last month. A really good spider to start on, in my opinion, is the technology spider XLK. Put the funds in these two equity funds and let 'er rip. Simple.

 

[Kurtr]

I've done WONDERFULLY since January (when I signed up). I lost some thru the March 23rd bottom but it has rolled remarkably well since. I've kept a Google Sheets spreadsheet of my gains/losses and have profited over $4,500 as of last Friday. Nothing wrong with that!

My biggest winners: Moderna (MRNA), Alteryx (AYX), Pinterest (PINS)


The money gained went into the Nasdaq Spider QQQ when it dropped over 1,400pts last month. A really good spider to start on, in my opinion, is the technology spider XLK. Put the funds in these two equity funds and let 'er rip. Simple.

im still up overall just got a few penny stocks that haven’t played out yet. About 25% since I started in March but I only have a few hundred in it .

 

[3Roosters]

NASDAQ has been on fire this year. Wish I would have gone more in!! I know i know.. still can.

 

[3Roosters]

Darn, this is not good news. I decided to dabble in RobinHood a few months ago with a measly $100 bucks just to play with. Was kinda cool now that you didnt have to buy whole shares if you didn't want to, could just buy a portion of a stock if you so desired. I have like 9-10 different stocks..bought, sold, bought something else.. My $100 bucks is now at $156.45 so not a shabby return for a few months. Wish I would have gone in more..hahaha but maybe not now.

Looked back at my post one month ago, Oct.12. My account was at $156.45. As of this moment it is at $174.87.. about 12% gain for a month.. I will take it... should have started with more than $100!!! Dang it. Fun little amount to play with though.
Best performers have been PLUG and PLL although I sold PLL when it went up to $38 from like $7

 

[Up Y'oars]

Looked back at my post one month ago, Oct.12. My account was at $156.45. As of this moment it is at $174.87.. about 12% gain for a month.. I will take it... should have started with more than $100!!! Dang it. Fun little amount to play with though.
Best performers have been PLUG and PLL although I sold PLL when it went up to $38 from like $7

I have lots more and I still think the same.... should'be put more in. Yeah, I just playing like a fool, but I have made just under $5,000 profit since January 2020. Some volatility coming up, tho.

 

[3Roosters]

Another month. I am now at $207.43 , without adding any more coins to the pot. Up over 100% in like 5 months for me. Beats the .02-.05% savings /cd rates . My $100 bucks would have generated like a nickel..maybe...in a savings account...worth the gamble..Gonna try and double again in 5 months. kinda fun dabbling with this amount.

 

[Sum1]

It’s fun to dabble with. I wish I would have got into investing fresh outta high school. Big money to made in the stock market. I guess it’s better late than never

 

[MSA]

I use E-Trade, I buy on hype, and sell right before news or events happen. When I wanna invest (aka, not pay attention to it) I wait till I see a stock beat down to nothing, like cruise lines right after covid hit. There's forums like nodakangler, but for stocks that you can read to see what next stock will go crazy, some are pump n dump scams, but you can make alot of money on em if you know when to get in and back out.

 

[3Roosters]

Yeah, i just dabble with the small amount i have...hope to grow it,mind you,as the weeks months go by. Think it was a game changer when you are now able to buy a portion of a stock versus a whole share. Allows you to own /take advantage of price increases in more spendy stocks.. For example, I tossed $10 to Moderna and Tesla which are up considerably for the year.. sold some when i felt i wanted to take my measly pittance of gain and put that elsewhere. I have looked for Strong Buys..or buys for sure. Also like listening to( and looking at) Maria Bartiromo in the mornings for stock tips or possible movers. Neat little hobby.