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Comments
LOL...no.
Google “market maker” for a start.
And there is ZERO restriction on selling. Sell to a friend. Sell to a stranger. Sell to your mother. All that’s happened is that private marketplaces (stock exchanges) have decided they don’t want to fuel stupidity.
I love how suddenly everyone is an expert on finance.
Hold up...I think it’s only RobinHood that has these restrictions.
You think RobinHood is the stock market?
Hilarious.
Yes. This is exactly what's happening.
I know what MMs are. Why do only THEY get to buy? Why are retail traders being screwed?
Read what I wrote. The restriction is only BUYING, not selling. But if you can only sell to institutions instead of retail, then this is not a free market at all. This is clear manipulation.
You cannot sell to your mother if she cannot but it.
Are you an expert?
No. IB also put in restrictions. Not all brokers have put in restrictions though. I was able to execute a buy order on eToro and Saxo. But my friends on RobinHood and IB could not. How exactly are brokers allowed to deny you from buying stock if you want to buy it? They are manipulating the order flow. They are manipulating demand.
There are selling restrictions, in some form. I've had a few sell orders rejected.
Also, the image above is Trading212.
The whole thing is just funny. The stock is getting halted non stop. Markets been open for what? An hour? How many times has the stock been halted?
The question is, why?
Who benefits from the suspension of trading?
Who benefits from restrictions of buying/selling?
It seems obvious to me this benefits the over extended short sellers.
Hedge funds b4 and after
Decided to leave Trading212. I don't know the ins and outs of stocks, regulations and laws but I preferred Freetrade anyway and I don't trade enough to hit my tax limits (Had an ISA) so fuck it.
If you're asking those questions then I don't think you know what MMs are.
There is no restriction on anyone selling and buying AMC or GSE. None.
Some individual exchanges and some brokers are saying "we won't handle it". But you could sell me your GSE right now (I'd be a buyer at about $2/share - PM me). You could sell it to anyone.
What you're screaming about is the convenience of an exchange and the convenience of an app. True, if you sold to your mother, it would be more cumbersome. There might even be (gasp!) paper involved. But there is no restriction on anyone buying or selling.
People buy and sell stock every single day outside the exchanges.
In comparison to some in this thread...
They are private companies.
Besides being highly regulated, stock exchanges and brokerages are also private, which means if they decide that it's in the market's best interest to stop trading in a stock, stop handling a stock, etc. they can do that.
You're just whining that you can speculate. Brokers and exchanges have neither legal nor moral requirements to enable any given trade and a moral (and in some cases legal) responsibility to curb excessive speculation.
So youre saying that the stock doesnt get halted?
I think they're the first ones I'd put in line today for an accusation of attempting to manipulate the market unfairly. If I were a stock holder or a board member of a publicly traded company suddenly blocked from trades by a major broker, I'd be investigating my options for a lawsuit.
I don't know that I'd have any, but I'd certainly be asking my lawyer about it.
But anyway, yeah, no way in hell I'd be dipping my foot into this mess. There is no law in the US anymore, there is what interests the powerful and wealthy. Cross them, the law will be interpreted as necessary to put you down.
Don't worry.
You cant buy now. eToro, Interactive Brokers, RobinHood, TD, and a bunch of other brokers only let you sell stock now. No buying
Millions of people cant participate even if they wanted to.
If it looks and smells like collusion...
Well, I made 33p profit. I hope my conscience is clean.
I can smell the raise of BTC no matter how GME ended.
Worry too much. Afraid of getting hurt, afraid of being wrong.
Always over-analyze, probably I left the financial industry is the right thing.
Class action filed against Robinhood in NY. It's going down.
You are claiming people can't sell. This is untrue.
I'm pointing out that people can't sell through certain exchanges or brokerages.
There's a difference.
Nothing has been stolen from anyone. Exchanges are just there for convenience. You want to sell your stock - go ahead. You just have to find a buyer on your own and conduct the transaction on your own.
Not at all. There are tons of examples in history where trading in a stock has been halted for various reasons. I see nothing improper here.
That reminds me a lot of "just make your own social network."
No one believes that if you do things yourself in the US, and the powerful and wealthy oppose you, that they won't equally increase their methods to stop you at this point. I was on that wagon for a long time and this describes how I fell off:
I no longer believe we have a free market. I believe top companies are in full collusion with government and have basically already seized the means of production. There's patches of it left but they're quickly drying up. Make sure to delete this comment when it becomes a hate crime to say it, I'll owe you one.
I'm aware that I'm depressing, I have to limit how much time I can think about this every day after having drawn this conclusion.
I did not say that at all. I said they cannot buy.
BUT, the stock has been halted for trading at least 20 times already today, during which time, no you could not sell. So if you think otherwise, you are wrong.
That's not how it works and you know it.
You don't think there is anything improper about online brokerage firms with ties to Citadel only allowing clients to sell and not buy?
You don't think it's improper that the stock gets halted on the exchange several times a day?
Robinhood, whose largest revenue source is selling trade data to Citadel, appears to now be force selling users' shares of gamestop at very low prices.
Uncancellable sell orders against their will. You couldn't buy on margin anyway, so this is paid in full already.
And no, you can't just "find another broker" because it takes weeks to onboard and deposit.
I'm curious what @raindog308 has to say about this.
FWIW, these things are perfectly normal:
Absolutely abnormal:
Unlike signing up for another domain, hosting service, or otherwise, bank transfers to fund your account take multiple business days, and with the weekend coming up too, there is literally no way you can just "take your positions somewhere else" or "find an individual buyer". Especially with several now demanding you go to a Fidelity branch or Schwab branch or similar with ID to complete signup in person.
Disclaimer: I do not have a position in any of the companies, meme stocks, or anything, and I am not a RH customer. I'm just observing this from the outside and it's been an interesting roller coaster.
* This is probably the most insane part, and there are enough examples that it's unlikely to be photoshopped from shitloads of different people: https://pbs.twimg.com/media/Es1W0VlWMAIM2sj?format=jpg&name=large https://pbs.twimg.com/media/Es1pb5KWMAE19CD?format=jpg&name=medium
robinhood, webull, trade212, tdamerica, schwab and more have restrictions on buying amc, bb, nok, and gme.
this is market manipulation and they're getting heavy flak from AOC and more. stock will continue rising.
update: webull lifted restrictions. this market manipulation won't stop a rocket already in flight. buy while its low, all this press will only increase the share price.
disclaimer: retarded, not investment advice.
Odd that shows a today sell price of $118.03 when it is currently trading at $239, down 39%
Not market manipulation. Just brokers covering their ass.
Have you sold yet?
nope, im still +$700 too.
Around 4PM UTC it was below 130, at least
Apparently a bunch of these are being executed by several few upstreams. Like Robinhood and IB both use Citadel, and others use Apex
What's this for a NWO sh*t?!?!
I won't speculate, just calling what I see from my perspective.