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Talking stocks, trading, and investing in general

Friend

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Surely they aren't restricting outright buying. Assume this is a limitation on use of margin for investing in these stocks. If so, I'd say it was a good move, since if the margin is collateralized by the underlying stock, and the underlying stock has a fundamental value of close to zero, I probably wouldn't want to be lending money secured by these stocks either.

No, fully preventing all users from buying the stock at all. Doing it for AMC, BB, and all the 'meme' stocks.

1611842027962.png
 

Piobaire

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Market drops another 2% today over jobs claim and GDP report?
 

otc

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I have a TD account and saw no warning or restrictions on either the options or the stocks. Not sure where that twitter screenshot is from because I saw nothing all of the way to order confirmation.

Screenshot_20210128-081645.png


Of course it is my Roth IRA and I just made (and invested) my full backdoor contribution last week so I have nothing there to trade with and this order would fail... But I don't think they would let me get to the confirmation page.

Then again, my account is option-enabled which (at least a few years ago) required you to check some boxes certifying that you aren't an idiot. I suppose it is possible they are warning accounts without that.
 

javyn

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Just jumped back into AMC hehe, and soon as the order is placed, it starts dropping :D

GME is over 480 at the moment.
 

Piobaire

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Don't worry, when I bought my BB, it immediately dropped...then sold at 25% gain in 24 hours LIKE A BOSS!
 

javyn

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Don't worry, when I bought my BB, it immediately dropped...then sold at 25% gain in 24 hours LIKE A BOSS!

Not sure if I'm worried or just hung over. Heating up Monday's leftover enchiladas so I'll be good in a few.

edit: Also, no problems on my end making trades through Fidelity.
 

jbarwick

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Robinhood should have read more Warren Buffett, "It takes 20 years to build a reputation and a meme stock war five minutes to ruin it."
 

javyn

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Robinhood processes trades through Citadel, who loaned Melvin $2B to weather the WSB rally.
 

Omega Male

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Omega Male

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This is going to make some people quite unhappy.
 

Piobaire

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Recent events will just break folks into more Manichean thinking, when in reality, market pricing is compromised by a mix of things with fundamentals probably being the main valuation factor for the vast majority of stonks.
 

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