We are in favor of SEC Chair Gary Gensler's proposal to route retail order flow to auction. The practice of paying for order flow has thrived since the mid 2000's led by dark pools such as those operated by Citadel. Access to customer order flow allows Citadel, Renaissance Capital and a large number of other … Continue reading Pay For Order Flow Needs To End
Only in this Fed-driven Bizarro World equity market would a company (Robinhood, ticker: HOOD), that generates revenue by selling customer order flow be rewarded by many of those customers in the form of a 50% stock pop in one day and a 100% stock price gain in one week. The irony is thick. HOOD's nosebleed … Continue reading Robinhood – Thank You May I Have Another?