ALERT: Robinhood Misleading Information

Hey guys,

Please read this message if you use Robinhood and/or if you have friends who rely on them.

I’m starting to believe that Robinhood could be misleading apes and retailers by messing up with their costumers data regarding cost averages and total returns. I only noticed this after I start recording all my AMC trades manually on an excel spreadsheet. What I found is quit shocking. My AMC average cost is $27.68 and not $41.90! That’s less $14.22 a share than what Robinhood is telling me! They’re also lying about my total return. It’s +33.33% according to my calculations and not -11.93%!!

This is also happening on some of my other assets, crypto included. The only ones that seem to be correct is the ones I only bought and didn’t sell shares.

Now think with me for a minute. You invested a total of 10k on AMC in the last 4 months. At this point, you probably lost track of the amount and price you bought and sell. That’s a natural behavior because simply put their app is " very intuitive and user friendly" and you don’t need to think about it. You trust what you see in their app. You even look at the damn thing over and over during the day to check how you’re doing. There’s no way you would think it’s not correct right? Now, imagine that you are not very patient and feeling the squeeze is taking too much time to happen. You keep seeing that your total return is -3K. Well that’s not fun! So next time AMC price spikes what would you do? BUT what if you knew that in fact you are actually making 3K profit? Would you be thinking about selling? The urgency to get out won’t be as high. You’d feel confident about holding and relaxed that even though it’s taking time you’re making money. You see where I’m going?

Robinhood might say it’s a bug in their app, which I find it really hard to believe with all the resources they have. To me, it’s really starting to feel like a “smart” way to scare the apes and get rid of their shares at sale price that hedgies can buy back. And all done quietly by providing misleading information that we’re used to trust. This is serious stuff!

If you have some time this weekend please, please double check your AMC or other asset that you’ve been actively trading and let me know what do you find out. If more people is experiencing the same issues then I think we can move with a lawsuit.

Lastly, I’m not a math genius. It’s actually pretty simple math. Sum of all shares bought minus all shares sold divided by the remaining shares available.

[total shares bought] - [total shares sold] / [remaining shares] = average cost

I’m sharing the google sheet that I’m using. All you need to do is fill up with your buy and sold transactions and it calculates automatically for you. Please make sure you make a copy of the document so you can own it and can use it privately.
Stock count - Google Sheets

Much love.

At least it’ll be good for taxes. :laughing:

Have you contacted RH yet?

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