Some unusual online behavior from major broker Citadel Securities recently:
“Refuse to believe an American landed on the moon.” Does this sound like a normal PR department of a major company?
Not remotely. With the hyperbole and mudslinging, Citadel Securities sounds like an online troll.
The Financial Times notes that the firm has rarely said anything online. Indeed, its last tweet was from January.
This behavior strikes me as unhinged and speaks to dysfunction within the company. Why would the largest processor of stock trades in America get into online trashtalking?
If this slipped past management’s filter, I’m willing to bet a lot of other things have to.
And that’s where the lawsuit comes in. A suit in the US District Court for the Southern District of Florida alleges that Citadel pushed Robinhood to restrict trades in shares of AMC, GameStop and other meme stocks to benefit its associated hedge fund.
Both sides have already admitted meeting shortly before the restriction, but deny anything inappropriate happened.
Citadel seems to be getting desperate in fighting these allegations. And if they’re trolling on Twitter under their company account, I wonder where else they’re pushing their narrative.
I would not be surprised to see reports of Citadel employees pushing the company line under their personal accounts or pseudonyms. And with botnets available for just a few hundred dollars, why not?
Something has gone wrong inside this company.
It may take a federal court to sort it out.
More on markets:
AMC Fails to Deliver Are 40,000 Times Amazon’s, Per Latest Data
Will Evergrande Spark a Global Financial Crisis?
AMC Has Burned Short Sellers for $4 Billion in 2021, Per Latest Data
Photo: “Ken Griffin” by DanGPhotos1 is licensed under CC BY 2.0
If you found this post interesting, please share it on Twitter/Reddit/etc. using the buttons at the bottom of the page. This helps more people find the blog!
Save Money on Stuff I Use:
Amazon Business American Express Card
You already shop on Amazon. Why not save $100?
If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.
Best of all: No fee!
This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.
If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.
The only place I buy vitamins and supplements. I recently placed an order and received it in less than 48 hours with free shipping! I compared the prices and they were lower than Amazon. I also love how they test a lot of the vitamins so that you know you’re getting what the label says. This isn’t always the case with supplements.
Use this link to save 5%!
My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.
Use this link to sign up and you’ll save $10 on your first order.
Tremendous 