Investing, Stock Market and Retirement Planning Thread

[Pavel Bure]

Set my sell limit at $288 for a share. Set the rest for $1000

PM is above $400 right now... you're going to sell at $288??

Basically I’m not interested in actually selling but if everything’s goes to **** I at the very least get my money back plus some. Like I said legs ago, I threw a couple hundo at this and am in for the ride.

[mikey]

I think the entire world froze the stock though (IIUC), right? Or did they do it independently on their own volition like RH is doing...?

[NTP66]

It sounds like you can still invest using Webull. I'm going to be closing my RH account and moving my cash to it this week.

Yeah, we're spreading out and checking out TD, Fidelity, webull, etc. and then we'll refer one another to whatever one we like the most...

If RH continues to be on the side of old money slugs through open, they will be discarded as part of this...

Do you have a Webull account? If so and you like it, let me know and send me a referral.

[NTP66]

I can still buy GME in Vanguard, and I know others can in Schwab, etc.

[count2infinity]

I'm curious to see what RH does when markets open... if they're smart, they open buying back up. If not, they're going to get killed.

[mikey]

It sounds like you can still invest using Webull. I'm going to be closing my RH account and moving my cash to it this week.

Yeah, we're spreading out and checking out TD, Fidelity, webull, etc. and then we'll refer one another to whatever one we like the most...

If RH continues to be on the side of old money slugs through open, they will be discarded as part of this...

Do you have a Webull account? If so and you like it, let me know and send me a referral.

Not yet, but I might by 10 am haha...I'll hit you up...

[count2infinity]

BB starting to tank...

[skullman80]

Here comes the dip in the pre-market.

[NTP66]

Set my sell limit at $288 for a share. Set the rest for $1000

PM is above $400 right now... you're going to sell at $288??

Basically I’m not interested in actually selling but if everything’s goes to **** I at the very least get my money back plus some. Like I said legs ago, I threw a couple hundo at this and am in for the ride.

Gotcha. Some panic selling in PM, but I expect it to rise, as per usual.

[robbiestoupe]

If RH and other sites are not allowing buys, who's going to buy the GME stocks when everybody decides to sell? Does this basically leave everybody with their dicks in their hands until the stock hits $0 and they allow buying again?

[NTP66]

Retail investors like us aren't what's driving the bigger fluctuations - the whales are. And there are plenty invested in GME right now.

[skullman80]

I really think they underestimate the will of the WSB and others to hold this for the most part.

[Pavel Bure]

Downloaded webull, haven’t setup the account yet

[Dickie Dunn]

Meme stocks tanking in pre-market trading. I imagine things will pick back up once everyone switches platforms.

[NTP66]

Nobody's going to be able to do anything if they switch right now, because you can't buy GME on margin right now. They'd need cash in their accounts.

[skullman80]

coming back up to pre-market status slowly...

[Dickie Dunn]

Even the hedge fund beneficiaries are angry.

[Lelldorin]

Robinhood and Reddit are apparently the most downloaded apps on apple store (and Robinhood is second on Google Play). If they prevent people from buying GME, they are toast, imho. It would also be interesting to see the lawsuits that should appear from such a decision...

[robbiestoupe]

Retail investors like us aren't what's driving the bigger fluctuations - the whales are. And there are plenty invested in GME right now.

Understood, but in order to sell your stock, you need a buyer, correct? Who are these buyers now that the retail investors are shut out - the whales? Why would they buy the stock when their interest is in the stock dropping?

I'm not sure what shorting a stock really means. Yes, you're betting the stock drops in price, but where are these "winnings" coming from when the stock does indeed drop?

[willeyeam]

Retail investors like us aren't what's driving the bigger fluctuations - the whales are. And there are plenty invested in GME right now.

Understood, but in order to sell your stock, you need a buyer, correct? Who are these buyers now that the retail investors are shut out - the whales? Why would they buy the stock when their interest is in the stock dropping?

I'm not sure what shorting a stock really means. Yes, you're betting the stock drops in price, but where are these "winnings" coming from when the stock does indeed drop?

from the people that bet the stock would go up

[Morkle]

Literally Robinhood decided to kill their business by snapping their fingers today, eh?

[NTP66]

Retail investors like us aren't what's driving the bigger fluctuations - the whales are. And there are plenty invested in GME right now.

Understood, but in order to sell your stock, you need a buyer, correct? Who are these buyers now that the retail investors are shut out - the whales? Why would they buy the stock when their interest is in the stock dropping?

I'm not sure what shorting a stock really means. Yes, you're betting the stock drops in price, but where are these "winnings" coming from when the stock does indeed drop?

The shorters have to buy shares to cover their positions, so the hedge funds are the ones buying them up.

[Pavel Bure]

Write up for any complaints we might want to put in. I sent one to the SEC and both PA senators

Robinhood Financial LLC 85 Willow Road Menlo Park, CA 94025 United States

This morning I, and millions of other retail investors, were blocked from purchasing (entering new buy orders) on the Robinhood platform, without notice. This clear example of market manipulation has forced the stock down from over $500 in after-hours to less than $300 as of this writing. Meanwhile, hedge fund interests are NOT blocked from buying the shares being traded and the lower price obviously benefits them.

We retail investors have followed all the rules and finally stood to gain a LITTLE bit from Wall St and they suddenly change the rules "to protect" us. I am requesting you use your subpoena power and regulatory authority to examine whether Robinhood colluded illegally with any other actors who may have held short positions on these stocks to reduce the number of buyers for $GME and therefore deflate the price. This is market manipulation.

[MrKennethTKangaroo]

Retail investors like us aren't what's driving the bigger fluctuations - the whales are. And there are plenty invested in GME right now.

Understood, but in order to sell your stock, you need a buyer, correct? Who are these buyers now that the retail investors are shut out - the whales? Why would they buy the stock when their interest is in the stock dropping?

I'm not sure what shorting a stock really means. Yes, you're betting the stock drops in price, but where are these "winnings" coming from when the stock does indeed drop?

when you short a stock, it goes like this:

The short borrows the stock with the agreement to return it to the broker that it borrows the stock from

The short sells the stock

The short hopes to buy the stock back at a later date at a lower price.

The short makes a profit by pocketing the difference between the price it sold the stock at the start of the transaction and the price it buys the stock at a later date.

In between the time the short sells the stock and repurchases the stock, it has to pay interest to the broker that it borrowed the stock from. It also has to post collateral to protect the broker. The higher the price of the stock, the more collateral it has to post.

[MalkinIsMyHomeboy]

What Robinhood is doing by restricting new buys is incredibly illegal, right?

I can’t imagine another way to think of it. They’re going to force the price down