June 5, 2021
To whom it may concern,
Please investigate if Robinhood's average transaction volume in the dark pools is 1. The public has reason to believe this is the case from posts like this:
https://www.reddit.com/r/Superstonk/comments/mzwipl/robinhood_is_11_trading_against_every_ticker_they/
and this:
https://www.reddit.com/r/Superstonk/comments/n060pp/robinhoods_single_share_spam_in_dark_pools_a/
If true, this behavior has at least the following ramifications to the parties involved:
1. The behavior floods the GME data channel. This is comparable to a Denial of Service attack.
2. Flooding the data channel obscures market price discovery.
3. If the PFOF revenue is based on transaction volume instead of share volume, it can potentially increase revenue earned from PFOF.
4. It delays the completion of any transaction for Robinhood's users.
5. It may prevent the completion of user submitted transaction, in whole or in part, for Robinhood users.
6. Slowing down the channel provides opposing parties additional time to capitalize on the opportunity at the expense of others, included but not limited to Robinhood users.
Thank you,