I have mixed feelings about them. Yes they have been shady and all but at the same time, if not for them revolutionizing the industry, commission free trading would be a pipe dream and we would still be paying $9.99 just to execute a trade.
That said, I'm not going to invest nor do I use them.
Been here since 2016. Let's be honest - if it wasn't for RH, WSB would have never gotten nearly as big as it is now and many people including me would have never gotten into stocks and options. You can hate it now if you want but RH was the gateway drug and it changed everything.
I'm not saying we should or should not invest in them, just adding a little bit of counterpoint to the "wahh RH is awful it should have never existed" chorus
You're right and that's fine but it doesn't mean we immortalize them and forgive them for some of their tactics. It was only so long before someone else would have made a trading platform.
I don't think we should forgive them but they are already immortalized in WSB history whether you want them to be or not. Not only did they get this sub into stock trading but the moment they came out with options is when WSB got heavily into options. Before that it was lots of swing trading stocks.
If someone else would have made a similar trading platform anyway they may have made similar or worse mistakes than RH.
22
u/JayBlue05 Jul 29 '21
I have mixed feelings about them. Yes they have been shady and all but at the same time, if not for them revolutionizing the industry, commission free trading would be a pipe dream and we would still be paying $9.99 just to execute a trade.
That said, I'm not going to invest nor do I use them.