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Yahoo promotes fake AMC token created by grifters
“The AMC Token, aiming to be the next 1000xgem in the crypto space, is starting its adventure with a unique fair launch event held on April 30, 2022, on Pink Sale Finance official link attached below; the invitation is for all the interested Apes/Investors to this extraordinary event.” – Yahoo Finance
Yahoo is promoting a fake AMC token that has the potential to destroy investors’ finances.
The mere pump of such a scam by a mainstream platform such as Yahoo is quite disturbing.
We’ve seen corporate media deteriorate their reputation amongst the retail community in the past year and months.
Agendas such as this one is not uncommon as the media has been trying derail investors from buying AMC stock; hoping to extinguish any chance of a short squeeze.
Who started xAMC token?
Grifters is the account promoting the fake AMC token on Twitter.
The user recently joined the social media platform only one month ago, no surprise there.
The definition of a grifter on its own is already a con-artist, or a dishonest gambler.
Here we see a puppet on social media promoting this page’s scam within the ‘ape’ community.
This account joined Twitter in April of 2022, this month.
They ‘like’ and retweet comments from retail investors in the ‘ape’ community but only promote this fake AMC token.
Yahoo says the AMC Token fair launch aims to craft a wider distribution and an effective price discovery.
“The project will not set a dollar price for the tokens; demand and supply in the fair launch event will. No Pre-Sale, Initial Coin Offering, Seed Round, or Whitelist before fair launch is completed; everyone has the same opportunity to acquire The AMC Token (TAMC) from day one.”
Why is Yahoo pumping this token from grifters?
I’d love to hear your thoughts in the comment section.
Just please keep it clean for Google.
Grifters helps scammers with their technical and marketing needs while helping them rug pull at ease.
A rug pull is essentially when a token is pumped and then the creators dump all the tokens cashing in from the pump while everyone else loses all their money.
Similar to what we saw with dogecoin influencer Matt Wallace on his own token earlier this month.
Yahoo and scammers promote Ethereum network on fake token ‘by apes’
Both Yahoo and scammers are promoting the fact that this AMC token is using the Ethereum network.
The excerpt above is from Yahoo.
This image of the token pumping has been promoted on Twitter to get retail investors in the ‘ape’ community interested in this scam.
As you can tell from the image, the AMC token is displayed as xAMC/ETH since it is indeed based on the Ethereum network.
The screenshot is from the grifter community, also being promoted by Yahoo.
Here is Yahoo’s article touching topic on this scam.
What’s curious is that Yahoo has never spoken out against malpractices in the system but hits it on the nail as they promote this scam.
The image is embedded for record purposes.
Don’t get scammed by Yahoo and Grifters
Community, campaigns such as this one will happen in order to divert retail from maintaining focus on a short squeeze play.
What does this tell you?
The suits behind these campaigns are in a world full of pain.
Retail investors have caused hedge funds to lose billions of dollars on heavily shorted stock such as AMC and GameStop.
Should this tactic be illegal?
But it isn’t.
The best thing you can do for you and your family is to do your research first before jumping in on a scam such as this AMC token being pumped by Yahoo and social media grfiters.
Share this article to raise awareness in the community.
Robinhood is an online investing platform that offers commission-free stocks with high-yield cash management offerings.
This popular stock market trading app does not charge commission for stocks and cryptocurrency trading.
Robinhood, the financial technology company offers trading in stocks, ETFs, other options, and cryptocurrency.
Moreover, this online brokerage provides web and mobile-based services which will allow you to invest and trade easily.
Additionally, the mobile-based services of this platform have made it stand out from its other competitors.
You may be wondering about many questions arising in your head about Robinhood & Robinhood stock.
Here in this article, you’ll find the answers to your queries and get to know all the details about this popular online brokerage like- How does it make money, the pros & cons of Robinhood, Robinhood stock price, the behavior of Robinhood in cryptocurrency & its future, and benefits of long-term investing in stocks & cryptos.
With more than 13 million users, Robinhood is the best platform for active investors or younger investors who want commission-free trading and investing on mobile.
If you want to invest in cryptocurrencies like Bitcoin, Ethereum, Dogecoin, you can use this mobile and web trading platform to invest long term.
Apart from it, Robinhood (a popular stock trading app) went public in July 2021 and its share price was set at $38 for IPO (Initial Public Offering).
Also, Robinhood was listed on the Nasdaq stock exchange under the symbol “HOOD.”
Recently, Robinhood’s CEO Vlad Tenev said that the company is planning to release the feature that allows customers to trade stocks outside of market hours.
The company named this feature, “Hyper-extended hours.”
According to Bloomberg, Robinhood stock is the favorite stock of Cathie Wood’s ARK funds and they’re purchasing the stocks every week since October 2021.
Last week, ARK Funds have bought about 2.45 million shares of Robinhood markets.
Robinhood Business Model- How the company generates income
With no minimum and no fees for trading in stocks, cryptos, and ETFs, the company has to generate income as a business to be sustainable.
This online brokerage makes money from market makers and some other ways.
Here are the ways through which the company generates revenue.
Payment for Order Flow
In 2021, the company generated 75% revenue through the process payment for order flow (PFOF), in which the company directs their customer’s orders equity and options to a particular market maker and the company receives payment for this compensation.
Hence, PFOF is the major income stream for the company.
Payment for order flow unfortunately plays against retail investors.
The SEC has talked about banning the practice since it allows market makers to manipulate the stock prices.
Stock Loan Income
Robinhood generates revenue by lending margin securities to counterparties.
Furthermore, the company keeps all money it generates from lending your stock and does not share it with you.
This is a big problem because large financial institutions make more money from the user while orders are processed through dark pools.
Borrowing Uninvested Cash
Robinhood generates income by borrowing uninvested cash and depositing this cash in interest-bearing accounts.
Membership Fees for Robinhood Gold
Robinhood Gold program is a paid subscription service that allows users to benefit from premium features like margin trading, Level II Market Data, professional research, and enhanced quick access to deposits.
It is also one of the income sources of the company.
Robinhood Gold costs $5 per month.
Also, it gives a free trial of 30 days.
What can you invest in on Robinhood?
Robinhood is a popular trading platform that allows the user to invest in stocks, cryptocurrencies, Exchange Traded Funds (ETFs), and options.
If you want to do commission-free trading in stocks, ETFs, and cryptocurrencies, then Robinhood is great for you.
Moreover, the company allows the investors to buy portions of stocks without paying the full share price.
It gives a free stock upon making referrals and opening the account.
When it comes to investing in cryptocurrencies, Robinhood allows to trade in several digital currencies including Bitcoin, BitcoinCash, Ethereum, Ethereum Classic, Litecoin, Bitcoin SV, and Dogecoin.
Most importantly, Robinhood has introduced IPO access for traders.
Besides, Robinhood does not offer the ability to invest in mutual funds, forex, bonds, and futures options.
The pros and cons
Simple, Easy to Use, and Easy to navigate
Free stock, ETFs, Cryptocurrency Trading
No account minimum
Cash management accounts
Margin investing and Fractional shares
Limited customer support
No mutual funds and retirement accounts
Limited investment offerings
Limited investing research and trading tools
The Pros explained
Robinhood, the popular brokerage in the US, is extremely easy to use and accessible for people of any age and any income.
Robinhood is a mobile-first company that differentiates it from other companies.
Its trading app and web-based platform are well-designed and more than enough to trade.
The new investors or inexperienced users can easily trade on it due to its simple and user-friendly features.
When it comes to costs, Robinhood provides commission-less trading with no minimum fees.
You can invest in stocks, cryptos, options, and ETFs for free.
Furthermore, the company offers fractional share trading, and you can invest in expensive stocks without much capital.
Additionally, it gives quick access to deposited cash.
The account opening process in Robinhood is fully digital and free.
Rather you get free stock upon opening the account and by referring the new members.
Last but not least, the company offered IPO access in July 2021 to benefit its users.
If you trade often, the savings can be huge on this platform due to the lower cost.
The Cons explained
Along with plenty of advantages, there are a few cons of it.
Robinhood does not offer to trade in mutual funds, bonds, and futures trading.
The research, educational resources of this financial company is limited.
It provides basic tools for the services and users can access professional research by purchasing paid membership of Robinhood Gold.
The customer support available in this stock trading app is limited.
Although, the company had made necessary improvements to its customer service in the last year.
The Robinhood scandal has blown up after the freezing of buying ‘meme stocks’ in 2021.
The company lacks full trust from retail investors after restricting the rights to buy specific stocks from its users.