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GameStop: The Arithmetic That Killed the Buy Button
At 5:11 in the morning, an automated file arrived at Robinhood's operations team. It contained one number: $3.7 billion. The amount required to post to the clearing house before the market opened. Robinhood had $696 million on deposit. By the time the opening bell rang, the buy button was gone. Not a conspiracy. Arithmetic. This is a simplified ...
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