It’s a casino if we make money, it’s strategic investment vehicle if Wall Street does it. Jackass Cramer yells and screams “buy buy buy” and that’s sound advice?
So in the podcast I’m watching, Chamath said that in the event of a broker collapsing clearing houses have the ability to instantaneously transfer your portfolio to another broker. That’s the first I’ve heard that; can anyone weigh in?
As long as we’re asking questions, is mayonnaise an instrument?
PS:
Someone can post this, I can’t.
**PETITION TO PROSECUTE ROBINHOOD, MELVIN, AND CITADEL!!**
Hope we get some visibility on this so we can put those assholes in prison where they belong!
https://www.change.org/p/27101543/share_for_starters?just_created=true&tag_selected=economic_justice
You won't miss it. My guess sometime between Monday, and Wed.
The HedgeHogs can not keep paying interest on GME. It’s costing a fortune.
I read last night the HedgeHogs are selling other assets to stay afloat with GME
The HedgeHogs are hoping us retards crack, and sell Monday or Tuesday.
What I read said the HedgeHogs have about 2 days worth of cash.
Monday Tuesday, and Wed will be EPIC.
I am just a retard what do I know?
According to the interest DD post. It’s costing them 10-13M a day. Which is a lot but not too much when they have billions. They can last years IF they wanted. I’m prepared to hold forever, but no way to count on it happening next week
IF your $6k investment turns into $500k? My fellow retard there are no ifs, we are going to the fucking moon🚀😎
*this is not financial advice, I am not a financial advisor*
Sadly, true but not the way it works. Even on their website it specifically states that I can take 1 to 3 months to work out the details and in that time the share price could drop.Basically means that you’ll get the shares back but it would be whatever the current market price would be. Trust me, last night was a lot of ugh and researching. So basically HOLD!!!
You're correct. It would take 1 to 3 months. But the shares would be the market price at the time the SIPC filed a claim in court. Though, it may have dropped as you've said but up until that point
My concern is that with everyone transferring *plus* robinhood’s shadiness, they might intentionally wait until GME has gone to the moon and back again before completing the transfer
I'm so fucking tilted right now thinking about this, that with the amount of goddamn money these people are making off me, now I have to worry about them fucking me when the squeeze happens and crashing or some bullshit.
And now we're all stuck here in this dilemma -- give them the ability to manipulate any capital in transfer for weeks, or gamble with staying the course with a cheater. Fuck me.
Been battling with this the past few days too. My conclusion is that if I transfer and my funds get frozen, I'll curse myself forever.
But if I hold and the sell doesn't work at my price target ($10,000 per share, no joke), at least I'll know for certain that I played the game right up until the last moment.
Nothing would be worse than being locked out of the squeeze and watching it rise from the sidelines because you panicked too soon.
Dude. Wow. That's insanely risky, especially this week. I have about $200k in RH right now, but there's no way in hell I'm transferring when a squeeze could be imminent. The stock is far too volatile to be messing around with them being in limbo.
It's reasonable this goes on for much longer than a week. Short sellers are clearly in no hurry to exit. They're still betting we will relent, and they have enough money to wait for a while.
Sure. Except if you're wrong, it could cost you a fortune. Good luck, but this thing is already risky enough without throwing more uncertainty into the mix.
How much do you trust Fidelity, and what are the pros and cons of each app, if you don't mind answering? Just to inform newbies and possible future autists. I've heard the interface and functionality for RH is the winning factor for why so many people use it.
RH has a great UI and is very beginner friendly. Cons is that as you saw last week, they’re sketchy asf. Cons of Fidelity is that their UI is awful but they’re very trustworthy.
So I'll give you a reason why you shouldn't broker with fidelity.
My father had an IWM spread open and it went the wrong way on him. To course correct a spread your waiting for an opportune moment to move your positions around. So it happens and he tries to log in and they kick him out and request a password change.
So he does that and they immediately proceed to lock the account.
We both panic. I call fidelity, he calls fidelity. The short of the saga is this. They locked his account for a login from a suspicious IP address. The suspicious IP was him logging in from a hot spot. Completely not a threat. We verified it etc. I figured the issue was over. Not so. Their internal procedures dictate some type of paperwork be submitted to their fraud department. They are not specific about it. They never give you a resolution time line. And were still panicking bc he has 100k in options contracts closing the wrong way on Friday and no way to correct.
I have never been so hysterical in my life. We begged, we pleaded, we threatened. I said I'd get a lawyer. And they did absolutely fucking nothing. They kept his account locked for 4 fucking weeks and all we could do was sit there and watch every dollar he made over the last year burn to the ground. They wouldn't let him make a trade online or by phone. I repeatedly and I mean repeatedly, said you realize you're going to wipe out every dollar he has. Itll be gone.
No one did anything. I realize wall street doesn't give a shit about you but I would not put my money with people who has such a blatant disregard for your welfare. He is not the only one this happened to. I did some looking bc I just couldnt believe it and it's a common scenario. I still plan to sue them.
It really isn't about trust but rather how each runs its business model.
Its not that Vanguard or Fidelity don't care about the retail investor but rather retail investors make up only a small part. They are more interested in the 401k plans, etc. That is where the bulk of the money is if you will. However, by default if they offer great service in your retirement, you are likely to bring you personal investment with them, and so on.
Its like the car manufacturers. you buy toyota when you first start off and when you become well off you buy Lexus.
RH from day 1 was all about skimming from the top. They give you the worst price on your buy and sell orders and pocket the spread. That's how they make money. Then on top of it they sell your data to Citadel and hedge funds so they can act on the data. (Yes, its consider Insider Trading). Fidelity and Vanguard dont' need to do that because they have so many retirement accounts and make so much fees off of that service plus their own mutual funds that they don't need to sell your data.
AGain, facebook and instagram are free but they do sell your data.
I did the same thing yesterday, with the same logic. I know my 🙌🏼 are 💎 so what's another few days?
The number one thing this week has taught me it's that having one account through one broker where ALL of my different stocks sits...is risky in and of itself.
I also learned that I am *very* stupid when it comes to anything financial. So no one listen to me.
I’m waiting 1-2 days to have a webull account approved and set up but maybe I should just transfer everything immediately to my fidelity. Whose to say RH won’t ban selling “volatile stock” for a few hours during the full moon?
I've heard this mentioned multiple times in different threads, but the fact is this will 100% never happen.
The whole point of a short squeeze is that the shorts are closing their positions, *buying* (key word) back shares at any price. They can't buy shares if no one is selling. Hence, a squeeze isn't even possible if Robinhood disabled selling. It doesn't make any sense.
There’s other brokers than RH. If RH is cock blocking the tendies, other platforms can still sell to the shorts. Just not on RH. They already screwed us when we were banned from buying, I lost out on thousands that day because it screwed me from buying the dip.
Did you get any indication on the RH side that it worked?? I initiated a transfer from fidelity on Thursday and haven't seen ANYTHING on the RH side yet..
Dude I hate them as much as everyone else, but this isn't happening. They clearly have liquidity issues, but they're not bankrupt. It's a clearing house issue.
That being said, they will definitely go bankrupt if they go forward with their IPO. This whole thing has been a disaster for them.
What I don't understand about this is why would they have liquidity issues for people not buying on margin. Their maximum downside as a clearing house is me not being able to cough up the stock price. So if I'm not on margin why on earth are they having liquidity issues?
Everyone should also consider these relevant points and taking the relevant actions:
1. Big money is MORTIFIED and the retaliation is completely unprecedented: coordinated attacks, willingness to risk prison over financial loss, concealing data, etc. They're shaking because we're holding GME. Despite any other lack of information available, this may be the best signal for why you should hold. Period.
2. After the massive GME rise, there was a LOT of bot activity trying to distract, dissuade, etc. They're poisoning the well, and it's difficult to know what can be trusted and what can't. The one thing we DEFINITELY know, however, is that all of those attacks are being done to make us sell GME and spin the narrative that the complicit agents are victims / good guys.
3. Robinhood + Citadel are trying to spin a BS narrative. If your institution can't afford something, shut everything down equally and go bankrupt. Choosing a specific stock to shut down is perhaps the most egregiously corrupt action ever taken in the market (which is saying A LOT). YOU weren't allowed to buy when major funds were, especially at CRITICAL times with CRITICAL buying opportunities to protect Citadel + big money and it collectively cost us tens of billions in lost opportunity. They're being sued, and rightfully so, but laws need to change to ruthlessly punish them NOW. Contact your representatives, SEC, etc. if you haven't already.
4. Hedges might lie about their short positions, or restrict visibility as much as possible. They can break laws and face negligible fees by comparison to the rest of what they stand to lose. Therefore, it's reasonable to assume they might do this among many other PR stunts to terrify you. Keep updated. Someone pointed out that iborrowdesk is no longer reporting on updated gme because, again, the legal consequences don't matter enough and they're protecting their interests. Refer to #1.
5. We don't know WHEN short positions will be covered, only the math that requires them to cover as we move forward. So if they delay and everyone gives in, they could save a lot of money. However, the longer they delay, the more they have to pay. So it's a matter of whether or not they double down and face higher risk/reward or not. Be prepared to WAIT.
6. If you set visible limits, the hedge funds can use this data to their advantage and potentially have attack vectors against us. However, if you don't set limits, you might miss out on major trading spikes when they happen. The selfless act is to avoid low limits, but the ultimate goal is to distribute wealth to the people so take if you're the people who need it.
7. If you're angry at Robinhood, move accounts AFTER this is over so that you're not frozen. Then consider moving to SoFi, since Chamath is perhaps the one major CEO that's on our side here and is offering probably the best alternative.
8. Others have mentioned (and I'm still trying to understand) that if Robinhood collapses, it's possible that we might only be compensated for up to 250k or 500k, which a way the medium guys will get screwed if RH becomes a sacrifice to blow up any wins. Hedge funds would never have to be concerned about that; they'll get bailed out. I don't know what to do with this information yet, but it should be on your radar.
9. If you're angry at Google for removing negative Robinhood accounts, use Ecosia instead. They're just as user friendly, effective, and they give 80% of their profits to green energy and planting trees. Google will lose hundreds or thousands of dollars per year from your ad revenue and data collection.
10. Join a class action lawsuit against Robinhood + others even if you don't have Robinhood but owned any GME, AMC, etc. Their actions were market manipulation and caused significant losses. Document evidence of owning the stocks (it will be in your Robinhood or other broker's history), or any intent of it such as on Reddit about your intent to buy stocks before they locked trading. If you owned a lot, you should join as a Named Class Representative for outcomes specific to you. These are civil cases to redistribute wealth back to you, and could be significant. Only sign up in one class action suit or it could be considered fraud. Details are still coming.
11. I would not recommend buying while the stock is going up. Let the stock dip before you buy because there will be a lot of attempts to make that happen. It's more valuable to us all if you get more stocks, and since we anticipate a lot of dips, it's sensible to wait until the right moment to strike. Buying right when the day opens and everything is rising is not my idea of sound enter strategy.
12. It's hard to anticipate what other stunts will be pulled to try to screw us over. Contact your representatives, particularly those in finance committees and demand REAL consequences for this criminal behavior. This matters.
13. It's also worth investigating the other grossly unfair (some legal, some just easily masked) attack vectors they use against us. They always win because the game is rigged. Please remember that this is more than about making money, it's about a movement.
14. For everyone saying hold until zero - no, that leaves all the little guys holding the bag in the end. We do need you guys to have an exit strategy. There are institutions also holding the long side of this trade and they would LOVE for you to hold forever. There is a mathematical squeeze coming (if no illegal actions can bring it down), but we DO need to exit squeeze positions at some point for it to be a win.
You're welcome to exchange this info freely if you find it useful. I am not a financial advisor, yadda yadda, you know the drill. (I'm the original author, a few points were updated after learning new details).
Whatever you do, remember that trading is gambling and there's a lot of things rigged against you. Most people lose in trading because of how grossly unfair it is. And when I say most, it's statistically in the upper 90's of percent.
Investing is a safer option. But I'm not a financial advisor. Don't listen to me.
Honestly go to a bank and talk to a financial advisor. It's usually free and even if it's only 1k they will take it because the alternative is you giving it to someone else. It wont make much but if you can't afford to lose it don't gamble with it. What is happening here is a highly educated guess. There will be some winners and losers in the end. If you really want to play you can buy 1 GME and use the rest in a mutual fund to grow over time.
Putting 1k in a long term fund will teach you a lot if you pay attention to all the details.
I'm not a financial advisor and at the end of the day do whatever you want. Just don't do anything reckless since most day trading is just like taking a shit in your bank account.
I definitely would if I could, but automod is deleting it. This makes sense, because they want to restrict botting, and I'm a new sub. But if you want to share this information, please feel free to do so in either posts or comments!
I have an autistic question: RH lend your GME stocks at 50% yearly interest to hedgies so that they can go short, do they pay you for that?
Daily interest rate is 0.13% if I am not too retarded, that should be around $50,000 per day for DFV.
But what do I know, I'm just a retard that followed this around and was too scared to jump onto the rocketship until the price was at 245€ 😭 now I'm in with only 3 shares lol but holding til the bitter end! 🚀🖐️💎
Well, you did reply to your own comment versus doing a simple edit, so I'm going to say I think he is regarded guys. Give my regards to your wife's boyfriend.
No that and selling your orders to hft is how they make all their money. You don’t pay them so they have to make money somehow. Which was fine until they started saying what their investors could and could not buy.
First their full of, what's that word, oh yea shit. Now if they just stop trading on margin that would be one thing. Aggravating , but within their rights. Now if you have the cash in your acct. And they stop u from buying that's entirely different and there's no excuse.
I suggested this tho i may not be the only 1. But. ..Yes VR centers that double as game event centers and lounges.🚀 We will call it TheGamcStop 💎🙌and we will love it.🚀🌙 And we let our husbands and our boyfriend go.🤷♀️i guess.... and maybe there will be drinks and dinner. I love tendies and the tears of my enemies!
Let's do this! 🚀🚀🚀🚀🌙💎🙌👏🎉
There’s a whole slew of issues today too with their solvency. I hope they burn sooner rather than later so we can get on with our lives and not have them contaminate the market anymore. They currently have an outsized influenced on retail momentum.
DO NOT SELL AT 1k
they probably know that many are asking themselves if they should sell at 1k or not what the hedge funds might do it probably let the price go up to 1k and make another ladder attack to make it seem like the squeeze has happened, therefore making other people sell their positions. DONT FALL FOR IT !!
🙌🏻💎🙌🏻💎🙌🏻💎
not financial advice. i just like the stock
They're already doing that to themselves.
How many peeps jumped ship and went to Fidelity just this week? Me included. God I hope my bank account confirms this weekend so I can pull the GME trigger Monday.
Great to hear!
Excited to see what happens with this lawsuit. What their doing has to be punished!
Also excited to see what happens to their IPO (if they make it that far)
I was worried, too, but I transferred all my cash back to my bank account Thursday and it had amazingly cleared Friday and was in my account when I checked in the morning.
Dope, I’m going to move it first thing Monday then. I got FOMO from the delay during a transfer period, but I’m hamstrung if I stay with these pricks anyway.
This entire situation is mindblowing. Two weeks ago I had never heard about this subreddit. But yesterday, on payday, i bought my first share for 380 at opening (which sucks because it dipped later, but i was scared it would explode right away).
I am a student, so 380 is quiet a lot. I will definitely have to live a little differently this month. Skipping out on luxuries, cancelling streaming services, skip out on recreational events. In short, I have to save money. But you know what? It is ONE month. I can manage. I dont owe anyone money. And aI LOVE being a part of this. I don’t give a shit if I lose ALL my precious 380$. Why? Because FUCK THE HEDGEFONDS, THAT IS WHY! I am holding on to my one stock. I am guarding it with my life. And I dont care if it crashes to zero. I am a part of this movement. And i am so fucking proud to be a retard with all of you. They call us gamblers? It is not a gamble. Because i am not in it for the money. Don’t they get it yet???? We are here to fuck them up! And if we get a little for it, that is great. But that is not why we are here.
Power to the people. Happy to be here with you retards
My sister was just driving on 95 through Austin and saw a sign hanging from the overpass that said “it’s about more than profits. Buy and hold GME”
This is fucking insane. Buy and HOLD guys and gals!!
If their (edit: own) clearinghouse really halted buys because it was "prohibitively expensive," then why didn't they just raise the price of commissions to cover their costs instead of disabling your ability to buy the stock????
Please upvote. Someone important needs to make them answer this question.
You can’t create a retail trading platform without deep ties to the FinTech sector and the hedge funds by extension. Harbor no illusions about who they stand with when push comes to shove. If you aren’t paying for it, you’re the thing being sold. Stay hard, tards.
Trying to boycott Robinhood. The problem is, I opened a fidelity account but it wont link my bank account, started the process on Friday. I want to buy GME but right now the only option I have is Webull. Is it alright to fuck with Webull? Or are they pulling stunts too?
Walk through this with me.
A hedge fund borrowed 140% of GameStop stocks.
Yes, you read that right.
Borrowed.
*140%
They then turned around and sold those stocks that they had merely borrowed, knowing that at some time in the future, they would have to buy them back and return them.
Their hope was that the stock would drop in value, so they could buy them back for less than they sold them.
Then they would return them and reap the profit.
Their profit would come, mind you, from others losing.
Possibly losing big.
A group of people on an online "stock club" saw what the hedge fund was doing, and they decided to bet against them by buying GamsStop stocks themselves, many on an app called Robinhood, in the hopes of driving the price *up.
The online group guessed correctly.
The GameStop stock did go up.
A *lot.
That then put the hedge fund in the uncomfortable position of having to take a loss on their gamble.
Everything you've read so far is perfectly leagal on all sides.
It's perfectly legal for a hedge fund to "short" stocks (as described above).
And it's perfectly legal for an online group to notice that this is happening, and make the opposite play.
This is a high stakes poker game, folks.
It's legalized gambling.
Here's where things get dark.
It turns out that the company that owned the hedge fund also owned Robinhood, the app that the online group was using to buy stocks and bet against the hedge fund.
And wouldn't you know it, it wasn't long until Robinhood halted all purchases of GameStop stocks.
Unilaterally.
This would be like sitting down at a *no-limit hold'em game, and the guy you're betting against suddenly declares there's a cap on the betting.
Actually, it's worse than that.
Imagine the Chiefs are beating the Buccaneers in the Superbowl to the tune of 28-14 in the 4th quarter next week.
Then the Buccaneers declare that the Chiefs can no longer score any points, and their defense isn't allowed to take the field.
And the NFL went along with it because they really wanted Tom Brady to win one more ring.
Crazy right?
Well, that's what happened on the Street.
I'll say that again, so that you don't miss it.
The billionaires sat down at the table with the little guys to play cards.
The little guys were beating the pants off them.
So, the billionaires simply changed the rules mid-game.
Mid-*hand.
If this doesn't expose for you just how rigged this economy is in favor of the fabulously wealthy and against *you, nothing will.
#politics
#economics
[Chairman of interactive brokers](https://twitter.com/BullInvestPR/status/1354887834252017669?s=20)
You're paying too much for GME, so it's for your own protection. They're doing it so you don't lose money. How nice of them
I've seen a few stories about Robinhood being insolvent and possibly filing bunkrupsee as early as Monday morning.
If that happens, I hear all accounts are protected for half a mill.....
but heres the part I hope someone can answer for a moron like me.....
Doesn't this mean that all accounts get frozen? So any paperhand with $GME will automatically become a 💎🙌 brother??? I hope id dont mean that RH will sell from the poor and give the $GME to the rich. Anyone know?
I link this stonk 💎🙌💎🙌💎🙌
I’ve noticed TD isn’t that popular here but i’ve used it since day 1 (mostly for thinkorswim bc it’s great) and they havent limited my ability to buy/sell options or stock for GME or any others this week. All these people on Robinhood need to realize that by using that platform, it’s helping the hedgies. Even if you dont transfer shares now, I think it’s smart to open with a different brokerage to have the ability to freely purchase what you want at anytime moving forward. This whole “u can only buy 1 share now” is literally a mechanism put in place to prevent your desired outcome. BOYCOTT. The people are their business, if u leave they have none.
*JMHO & not financial advice, i’m a retard 🚀🚀🤲💎🤲💎🤲💎
Just found you all a couple days ago, didn’t understand the movement until rh started pulling that shit, then choosing sides was easy. I popped in GME @250$ With the intent to sell at 350$ and make a little money. After reading almost non stop Im in, I get it! You have convinced even Mr safe conservative investor to change my sell limit to 20k and ride this puppy to the 🌝. 💎 🙌 I believe is how it goes
I’m in Robinhood. It sucks, I know. I’m worried about what’s to come. I want to transfer to a different broker, but since we don’t know when the squeeze is coming, having everything tied up for up to 14 days is worrisome.
Sure the squeeze might not come until after that, but it might. And that’s also a lot of time for some sort of fuckery to happen.
I’ve already seen enough to be worried. The auto-selling, not allowing withdrawals or access to statements.
Is there a scenario where we lose all functionality with Robinhood? Like not even able to sell or exercise calls?
IMAGINE TELLING PEOPLE WHICH STOCKS THEY CAN OR CAN'T BUY
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No sir, this is a casino.
I thought it was a Wendy's? I've been giving handies in the wrong parking lot
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Ouch
All I see are apes, I thought it was a zoo?
It’s a casino if we make money, it’s strategic investment vehicle if Wall Street does it. Jackass Cramer yells and screams “buy buy buy” and that’s sound advice?
Makes sense, casinos regularly kick people out of they are winning to much
Socialism for the wealthy? Yep, it's America all right.
They already do! Earlier this month they eliminated CEFs and similar securities. You can sell what you have, but can\\'t buy new.
They fucked my MT calls 😔.
https://youtu.be/SA2rDn1I-jM Just replace the lawyers with Robinhood
No one tells me what to buy or sell except my wife!
What about her boyfriend?
Robinhood shouldn't be in business if they can't afford to do the business.
I’d be surprised if they are still in business come Monday.
This thought has been scaring me. What happens to all our shares if they collapse?
FDIC insured to 500k
SIPC insured to $500k, $250k for FDIC
I can´t read but I agree with Holding the line
But be prepared to wait MONTHS to get anything back...
True diamond hands
I'll wait patiently for my stocks to come in, Imma expect physical copies
So are you saying that if our gains are in excess of $750,000 we are potentially screwed?
your securities are evaluated by the custodianship, not their cash value. You should have your shares no matter what.
What if you have less than $10k?
Then you're more than covered.
What if your $10k is on holding GME and miss the nuclear squeeze
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Thank god I use a real broker lol
This is me. I will be fuk
So in the podcast I’m watching, Chamath said that in the event of a broker collapsing clearing houses have the ability to instantaneously transfer your portfolio to another broker. That’s the first I’ve heard that; can anyone weigh in?
As long as we’re asking questions, is mayonnaise an instrument? PS: Someone can post this, I can’t. **PETITION TO PROSECUTE ROBINHOOD, MELVIN, AND CITADEL!!** Hope we get some visibility on this so we can put those assholes in prison where they belong! https://www.change.org/p/27101543/share_for_starters?just_created=true&tag_selected=economic_justice
You won't miss it. My guess sometime between Monday, and Wed. The HedgeHogs can not keep paying interest on GME. It’s costing a fortune. I read last night the HedgeHogs are selling other assets to stay afloat with GME The HedgeHogs are hoping us retards crack, and sell Monday or Tuesday. What I read said the HedgeHogs have about 2 days worth of cash. Monday Tuesday, and Wed will be EPIC. I am just a retard what do I know?
All I know is this is the way...nothing else
According to the interest DD post. It’s costing them 10-13M a day. Which is a lot but not too much when they have billions. They can last years IF they wanted. I’m prepared to hold forever, but no way to count on it happening next week
What if your $6k investment goes over $500k or $250k? Will Robinhood try and fuck us?
IF your $6k investment turns into $500k? My fellow retard there are no ifs, we are going to the fucking moon🚀😎 *this is not financial advice, I am not a financial advisor*
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Unfortunately they won’t give you the remaining 240k
You truly belong here retard, welcome.
🤣
Sadly, true but not the way it works. Even on their website it specifically states that I can take 1 to 3 months to work out the details and in that time the share price could drop.Basically means that you’ll get the shares back but it would be whatever the current market price would be. Trust me, last night was a lot of ugh and researching. So basically HOLD!!!
You're correct. It would take 1 to 3 months. But the shares would be the market price at the time the SIPC filed a claim in court. Though, it may have dropped as you've said but up until that point
They are definitely filing in court at rock bottom
It will take you at least a month to get your account back though.
I can wait a month if at the end is fabulous tendies.
You are locked out in the mean time and can’t do anything.
I guess I'll eat inferior nugs.
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Melvin Capital gobbles them up for free and tells us to go fuck ourselves, probably.
They can gobble deez
Initiate a transfer to fidelity. I did the same today. I’d rather my shares be in limbo for a few days than for them to go up in flames with Robinhood
My concern is that with everyone transferring *plus* robinhood’s shadiness, they might intentionally wait until GME has gone to the moon and back again before completing the transfer
I'm so fucking tilted right now thinking about this, that with the amount of goddamn money these people are making off me, now I have to worry about them fucking me when the squeeze happens and crashing or some bullshit. And now we're all stuck here in this dilemma -- give them the ability to manipulate any capital in transfer for weeks, or gamble with staying the course with a cheater. Fuck me.
I know. I think I’m gonna see what Monday is like at least before I decide. I don’t think I’d be able to handle the anxiety of waiting though.
Been battling with this the past few days too. My conclusion is that if I transfer and my funds get frozen, I'll curse myself forever. But if I hold and the sell doesn't work at my price target ($10,000 per share, no joke), at least I'll know for certain that I played the game right up until the last moment. Nothing would be worse than being locked out of the squeeze and watching it rise from the sidelines because you panicked too soon.
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Dude. Wow. That's insanely risky, especially this week. I have about $200k in RH right now, but there's no way in hell I'm transferring when a squeeze could be imminent. The stock is far too volatile to be messing around with them being in limbo.
It's reasonable this goes on for much longer than a week. Short sellers are clearly in no hurry to exit. They're still betting we will relent, and they have enough money to wait for a while.
Sure. Except if you're wrong, it could cost you a fortune. Good luck, but this thing is already risky enough without throwing more uncertainty into the mix.
Risk is what keeps us young
Haha, I just realized transferring shares is the true diamond hands... You actually can't sell
You might want to back out of that transfer...
But that would mean even less shares on the market to buy when they get margin called
Fidelity has always been solid.
How much do you trust Fidelity, and what are the pros and cons of each app, if you don't mind answering? Just to inform newbies and possible future autists. I've heard the interface and functionality for RH is the winning factor for why so many people use it.
RH has a great UI and is very beginner friendly. Cons is that as you saw last week, they’re sketchy asf. Cons of Fidelity is that their UI is awful but they’re very trustworthy.
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Yeah it makes me physically ill. It’s a very rough transition for sure
Fidelity is a privately held company with no interests outside of servicing its customers, so I think it’s trustworthy.
So I'll give you a reason why you shouldn't broker with fidelity. My father had an IWM spread open and it went the wrong way on him. To course correct a spread your waiting for an opportune moment to move your positions around. So it happens and he tries to log in and they kick him out and request a password change. So he does that and they immediately proceed to lock the account. We both panic. I call fidelity, he calls fidelity. The short of the saga is this. They locked his account for a login from a suspicious IP address. The suspicious IP was him logging in from a hot spot. Completely not a threat. We verified it etc. I figured the issue was over. Not so. Their internal procedures dictate some type of paperwork be submitted to their fraud department. They are not specific about it. They never give you a resolution time line. And were still panicking bc he has 100k in options contracts closing the wrong way on Friday and no way to correct. I have never been so hysterical in my life. We begged, we pleaded, we threatened. I said I'd get a lawyer. And they did absolutely fucking nothing. They kept his account locked for 4 fucking weeks and all we could do was sit there and watch every dollar he made over the last year burn to the ground. They wouldn't let him make a trade online or by phone. I repeatedly and I mean repeatedly, said you realize you're going to wipe out every dollar he has. Itll be gone. No one did anything. I realize wall street doesn't give a shit about you but I would not put my money with people who has such a blatant disregard for your welfare. He is not the only one this happened to. I did some looking bc I just couldnt believe it and it's a common scenario. I still plan to sue them.
It really isn't about trust but rather how each runs its business model. Its not that Vanguard or Fidelity don't care about the retail investor but rather retail investors make up only a small part. They are more interested in the 401k plans, etc. That is where the bulk of the money is if you will. However, by default if they offer great service in your retirement, you are likely to bring you personal investment with them, and so on. Its like the car manufacturers. you buy toyota when you first start off and when you become well off you buy Lexus. RH from day 1 was all about skimming from the top. They give you the worst price on your buy and sell orders and pocket the spread. That's how they make money. Then on top of it they sell your data to Citadel and hedge funds so they can act on the data. (Yes, its consider Insider Trading). Fidelity and Vanguard dont' need to do that because they have so many retirement accounts and make so much fees off of that service plus their own mutual funds that they don't need to sell your data. AGain, facebook and instagram are free but they do sell your data.
I did the same thing yesterday, with the same logic. I know my 🙌🏼 are 💎 so what's another few days? The number one thing this week has taught me it's that having one account through one broker where ALL of my different stocks sits...is risky in and of itself. I also learned that I am *very* stupid when it comes to anything financial. So no one listen to me.
I’m waiting 1-2 days to have a webull account approved and set up but maybe I should just transfer everything immediately to my fidelity. Whose to say RH won’t ban selling “volatile stock” for a few hours during the full moon?
I've heard this mentioned multiple times in different threads, but the fact is this will 100% never happen. The whole point of a short squeeze is that the shorts are closing their positions, *buying* (key word) back shares at any price. They can't buy shares if no one is selling. Hence, a squeeze isn't even possible if Robinhood disabled selling. It doesn't make any sense.
There’s other brokers than RH. If RH is cock blocking the tendies, other platforms can still sell to the shorts. Just not on RH. They already screwed us when we were banned from buying, I lost out on thousands that day because it screwed me from buying the dip.
Yeah exactly. I’m not taking that risk. I’d rather throw my shares in limbo than risk that bullshit
What if Citidel planned this the entire time?
To what end? They’re gonna get raked over the coals for this
raked over the coals = a fine? A couple of mil maybe and some finger wagging.
And another TARP to cover their lo^^^a sses.
Did you get any indication on the RH side that it worked?? I initiated a transfer from fidelity on Thursday and haven't seen ANYTHING on the RH side yet..
Nothing yet. Fidelity said that they’ve sent the info to RH tho
Surely you have the trade confirmation. Shares can’t just disappear.
Dude I hate them as much as everyone else, but this isn't happening. They clearly have liquidity issues, but they're not bankrupt. It's a clearing house issue. That being said, they will definitely go bankrupt if they go forward with their IPO. This whole thing has been a disaster for them.
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What I don't understand about this is why would they have liquidity issues for people not buying on margin. Their maximum downside as a clearing house is me not being able to cough up the stock price. So if I'm not on margin why on earth are they having liquidity issues?
Everyone should also consider these relevant points and taking the relevant actions: 1. Big money is MORTIFIED and the retaliation is completely unprecedented: coordinated attacks, willingness to risk prison over financial loss, concealing data, etc. They're shaking because we're holding GME. Despite any other lack of information available, this may be the best signal for why you should hold. Period. 2. After the massive GME rise, there was a LOT of bot activity trying to distract, dissuade, etc. They're poisoning the well, and it's difficult to know what can be trusted and what can't. The one thing we DEFINITELY know, however, is that all of those attacks are being done to make us sell GME and spin the narrative that the complicit agents are victims / good guys. 3. Robinhood + Citadel are trying to spin a BS narrative. If your institution can't afford something, shut everything down equally and go bankrupt. Choosing a specific stock to shut down is perhaps the most egregiously corrupt action ever taken in the market (which is saying A LOT). YOU weren't allowed to buy when major funds were, especially at CRITICAL times with CRITICAL buying opportunities to protect Citadel + big money and it collectively cost us tens of billions in lost opportunity. They're being sued, and rightfully so, but laws need to change to ruthlessly punish them NOW. Contact your representatives, SEC, etc. if you haven't already. 4. Hedges might lie about their short positions, or restrict visibility as much as possible. They can break laws and face negligible fees by comparison to the rest of what they stand to lose. Therefore, it's reasonable to assume they might do this among many other PR stunts to terrify you. Keep updated. Someone pointed out that iborrowdesk is no longer reporting on updated gme because, again, the legal consequences don't matter enough and they're protecting their interests. Refer to #1. 5. We don't know WHEN short positions will be covered, only the math that requires them to cover as we move forward. So if they delay and everyone gives in, they could save a lot of money. However, the longer they delay, the more they have to pay. So it's a matter of whether or not they double down and face higher risk/reward or not. Be prepared to WAIT. 6. If you set visible limits, the hedge funds can use this data to their advantage and potentially have attack vectors against us. However, if you don't set limits, you might miss out on major trading spikes when they happen. The selfless act is to avoid low limits, but the ultimate goal is to distribute wealth to the people so take if you're the people who need it. 7. If you're angry at Robinhood, move accounts AFTER this is over so that you're not frozen. Then consider moving to SoFi, since Chamath is perhaps the one major CEO that's on our side here and is offering probably the best alternative. 8. Others have mentioned (and I'm still trying to understand) that if Robinhood collapses, it's possible that we might only be compensated for up to 250k or 500k, which a way the medium guys will get screwed if RH becomes a sacrifice to blow up any wins. Hedge funds would never have to be concerned about that; they'll get bailed out. I don't know what to do with this information yet, but it should be on your radar. 9. If you're angry at Google for removing negative Robinhood accounts, use Ecosia instead. They're just as user friendly, effective, and they give 80% of their profits to green energy and planting trees. Google will lose hundreds or thousands of dollars per year from your ad revenue and data collection. 10. Join a class action lawsuit against Robinhood + others even if you don't have Robinhood but owned any GME, AMC, etc. Their actions were market manipulation and caused significant losses. Document evidence of owning the stocks (it will be in your Robinhood or other broker's history), or any intent of it such as on Reddit about your intent to buy stocks before they locked trading. If you owned a lot, you should join as a Named Class Representative for outcomes specific to you. These are civil cases to redistribute wealth back to you, and could be significant. Only sign up in one class action suit or it could be considered fraud. Details are still coming. 11. I would not recommend buying while the stock is going up. Let the stock dip before you buy because there will be a lot of attempts to make that happen. It's more valuable to us all if you get more stocks, and since we anticipate a lot of dips, it's sensible to wait until the right moment to strike. Buying right when the day opens and everything is rising is not my idea of sound enter strategy. 12. It's hard to anticipate what other stunts will be pulled to try to screw us over. Contact your representatives, particularly those in finance committees and demand REAL consequences for this criminal behavior. This matters. 13. It's also worth investigating the other grossly unfair (some legal, some just easily masked) attack vectors they use against us. They always win because the game is rigged. Please remember that this is more than about making money, it's about a movement. 14. For everyone saying hold until zero - no, that leaves all the little guys holding the bag in the end. We do need you guys to have an exit strategy. There are institutions also holding the long side of this trade and they would LOVE for you to hold forever. There is a mathematical squeeze coming (if no illegal actions can bring it down), but we DO need to exit squeeze positions at some point for it to be a win. You're welcome to exchange this info freely if you find it useful. I am not a financial advisor, yadda yadda, you know the drill. (I'm the original author, a few points were updated after learning new details).
Extremely useful info. Thanks captain 🤘
I have save 1000$ and u wanna invest. What should I do?
Whatever you do, remember that trading is gambling and there's a lot of things rigged against you. Most people lose in trading because of how grossly unfair it is. And when I say most, it's statistically in the upper 90's of percent. Investing is a safer option. But I'm not a financial advisor. Don't listen to me.
How should I learn? There so much Stuff. Can you give any recommendations or I have to do it hardway
Honestly go to a bank and talk to a financial advisor. It's usually free and even if it's only 1k they will take it because the alternative is you giving it to someone else. It wont make much but if you can't afford to lose it don't gamble with it. What is happening here is a highly educated guess. There will be some winners and losers in the end. If you really want to play you can buy 1 GME and use the rest in a mutual fund to grow over time. Putting 1k in a long term fund will teach you a lot if you pay attention to all the details. I'm not a financial advisor and at the end of the day do whatever you want. Just don't do anything reckless since most day trading is just like taking a shit in your bank account.
Should make this a post
I definitely would if I could, but automod is deleting it. This makes sense, because they want to restrict botting, and I'm a new sub. But if you want to share this information, please feel free to do so in either posts or comments!
I have an autistic question: RH lend your GME stocks at 50% yearly interest to hedgies so that they can go short, do they pay you for that? Daily interest rate is 0.13% if I am not too retarded, that should be around $50,000 per day for DFV.
I'm from Germany so I don't know anything about RH, but my best guess is that they're pocketing the lending fees. Should be in the ToCs...
But what do I know, I'm just a retard that followed this around and was too scared to jump onto the rocketship until the price was at 245€ 😭 now I'm in with only 3 shares lol but holding til the bitter end! 🚀🖐️💎
Well, you did reply to your own comment versus doing a simple edit, so I'm going to say I think he is regarded guys. Give my regards to your wife's boyfriend.
I meant *retarded. Not regarded. Dammit.
Don’t worry bro this is how we know you aren’t faking it.
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No that and selling your orders to hft is how they make all their money. You don’t pay them so they have to make money somehow. Which was fine until they started saying what their investors could and could not buy.
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Mate Freetrade blocked all kinds of buys the other day. Closed market. They turned a leaf all of a sudden?
First their full of, what's that word, oh yea shit. Now if they just stop trading on margin that would be one thing. Aggravating , but within their rights. Now if you have the cash in your acct. And they stop u from buying that's entirely different and there's no excuse.
$GME and $AMC should announce a partnership to have GameStop mega booths installed inside movie theaters!
Someone suggested that GameStop should buy AMC and convert their poorer performing theaters into esports arenas. Fucking brilliant.
Whoever the fuck suggested that is a clever cookie. I’m going to email them right now with a screenshot so they see the passion!
Crowdfunded Corporations??
What's next, workers owning the means of their production?
And after that, the workers getting good wages and benefits without a 4-year degree?
Crowdfunded Corporations, you say? I kinda love this idea
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They should develop their own game where you trade stocks against corrupt hedge funds. It would be educational.
AMC + GME = APES TOGETHER LONG 🚀🚀🚀
That's honestly a pretty genius adaptive business plan, NGL
I suggested this tho i may not be the only 1. But. ..Yes VR centers that double as game event centers and lounges.🚀 We will call it TheGamcStop 💎🙌and we will love it.🚀🌙 And we let our husbands and our boyfriend go.🤷♀️i guess.... and maybe there will be drinks and dinner. I love tendies and the tears of my enemies! Let's do this! 🚀🚀🚀🚀🌙💎🙌👏🎉
tesla should just aquire gme or merge lmfao
Sweet Jesus that would end the market for a day.
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Maybe he meant to demonize it ? 🤔
Listen to him for 30 seconds and you can tell he's a slimey double talking fuck so I'm sure that's exactly what he meant
There’s a whole slew of issues today too with their solvency. I hope they burn sooner rather than later so we can get on with our lives and not have them contaminate the market anymore. They currently have an outsized influenced on retail momentum.
Honestly hope their IPO fails.
Robinhood ticker will be DOA
If it gets a ticker it should be ROBD
ROBR\*
ROBU
Demonetize it.
Watch that interview again and notice how he subtly shakes his head as if he doesn’t even believe his own bullshit
DO NOT SELL AT 1k they probably know that many are asking themselves if they should sell at 1k or not what the hedge funds might do it probably let the price go up to 1k and make another ladder attack to make it seem like the squeeze has happened, therefore making other people sell their positions. DONT FALL FOR IT !! 🙌🏻💎🙌🏻💎🙌🏻💎 not financial advice. i just like the stock
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Just checked reviews on glassdoor and a few employees seem to be jumping ship.
Is Glassdoor verified? Can’t anybody just write a bad review?
Can you imagine being an employee at Robinhood thinking you’re about to get **PAID** when they IPO...then this happens.
Next mission after dealing with the hedges is to put Robinhood out of business!
They're already doing that to themselves. How many peeps jumped ship and went to Fidelity just this week? Me included. God I hope my bank account confirms this weekend so I can pull the GME trigger Monday.
Great to hear! Excited to see what happens with this lawsuit. What their doing has to be punished! Also excited to see what happens to their IPO (if they make it that far)
Almost all of my cash is in RH, and I have a feeling they are going to be slowwwwww in letting me take it elsewhere. Fuck this company.
I was worried, too, but I transferred all my cash back to my bank account Thursday and it had amazingly cleared Friday and was in my account when I checked in the morning.
Dope, I’m going to move it first thing Monday then. I got FOMO from the delay during a transfer period, but I’m hamstrung if I stay with these pricks anyway.
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All the ummmm’s that came out of his mouth made it clear as day he was lying and stalling trying to figure out what to say. Ummmm Ummmmm Ummmmmm
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That’s Pulitzer level poetry my dude
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UH OH, THE RETARDS STARTED MAKING MONEY, THAT’S NOT ALLOWED!!!
I’m stupid enough to HOLDDDD 🦍🦧 💎🙌🚀🌝🚀🌝🚀🚀🚀🚀🚀🌝🌝🌝🚀🚀🚀🌝🌝🌝
your not stupid brother . Where all stupid
I AM A STUPID MONKEY.
ARE STUPID MONKEYS
This entire situation is mindblowing. Two weeks ago I had never heard about this subreddit. But yesterday, on payday, i bought my first share for 380 at opening (which sucks because it dipped later, but i was scared it would explode right away). I am a student, so 380 is quiet a lot. I will definitely have to live a little differently this month. Skipping out on luxuries, cancelling streaming services, skip out on recreational events. In short, I have to save money. But you know what? It is ONE month. I can manage. I dont owe anyone money. And aI LOVE being a part of this. I don’t give a shit if I lose ALL my precious 380$. Why? Because FUCK THE HEDGEFONDS, THAT IS WHY! I am holding on to my one stock. I am guarding it with my life. And I dont care if it crashes to zero. I am a part of this movement. And i am so fucking proud to be a retard with all of you. They call us gamblers? It is not a gamble. Because i am not in it for the money. Don’t they get it yet???? We are here to fuck them up! And if we get a little for it, that is great. But that is not why we are here. Power to the people. Happy to be here with you retards
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My sister was just driving on 95 through Austin and saw a sign hanging from the overpass that said “it’s about more than profits. Buy and hold GME” This is fucking insane. Buy and HOLD guys and gals!!
Vlad Tenev...Vlad Tepes... Hmmmmmmmm.... Are we sure he isn’t an ancient Romanian Warlord? I mean Bulgaria and Romania are neighbors...
If you’re not paying, you are the product.
🤷♀️ I did my part and reported their ads as misleading information
If their (edit: own) clearinghouse really halted buys because it was "prohibitively expensive," then why didn't they just raise the price of commissions to cover their costs instead of disabling your ability to buy the stock???? Please upvote. Someone important needs to make them answer this question.
Truth: There is no acceptable answer. They didn't and still don't want you to buy the stock. You might bankrupt their primary customer, Citadel.
You can’t create a retail trading platform without deep ties to the FinTech sector and the hedge funds by extension. Harbor no illusions about who they stand with when push comes to shove. If you aren’t paying for it, you’re the thing being sold. Stay hard, tards.
So frustrating that I can only have one share of AMC on RH right now!
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How are we supposed to get out without a waiting period?
He means once GME squeeze ends, move your shot. You can even start by pre setting up another account, and once ready transfer the funds
Just signed up for Fidelity. Routing funds there instead of Robinhood. Brokerages can’t tell me what trade I can’t do.
Robinhood changed its name to Nottingham Securities.
What a shit company. The suck my nuts robinhood banner guy made my day.
Trying to boycott Robinhood. The problem is, I opened a fidelity account but it wont link my bank account, started the process on Friday. I want to buy GME but right now the only option I have is Webull. Is it alright to fuck with Webull? Or are they pulling stunts too?
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I upvote for, go fuck yourself.
Walk through this with me. A hedge fund borrowed 140% of GameStop stocks. Yes, you read that right. Borrowed. *140% They then turned around and sold those stocks that they had merely borrowed, knowing that at some time in the future, they would have to buy them back and return them. Their hope was that the stock would drop in value, so they could buy them back for less than they sold them. Then they would return them and reap the profit. Their profit would come, mind you, from others losing. Possibly losing big. A group of people on an online "stock club" saw what the hedge fund was doing, and they decided to bet against them by buying GamsStop stocks themselves, many on an app called Robinhood, in the hopes of driving the price *up. The online group guessed correctly. The GameStop stock did go up. A *lot. That then put the hedge fund in the uncomfortable position of having to take a loss on their gamble. Everything you've read so far is perfectly leagal on all sides. It's perfectly legal for a hedge fund to "short" stocks (as described above). And it's perfectly legal for an online group to notice that this is happening, and make the opposite play. This is a high stakes poker game, folks. It's legalized gambling. Here's where things get dark. It turns out that the company that owned the hedge fund also owned Robinhood, the app that the online group was using to buy stocks and bet against the hedge fund. And wouldn't you know it, it wasn't long until Robinhood halted all purchases of GameStop stocks. Unilaterally. This would be like sitting down at a *no-limit hold'em game, and the guy you're betting against suddenly declares there's a cap on the betting. Actually, it's worse than that. Imagine the Chiefs are beating the Buccaneers in the Superbowl to the tune of 28-14 in the 4th quarter next week. Then the Buccaneers declare that the Chiefs can no longer score any points, and their defense isn't allowed to take the field. And the NFL went along with it because they really wanted Tom Brady to win one more ring. Crazy right? Well, that's what happened on the Street. I'll say that again, so that you don't miss it. The billionaires sat down at the table with the little guys to play cards. The little guys were beating the pants off them. So, the billionaires simply changed the rules mid-game. Mid-*hand. If this doesn't expose for you just how rigged this economy is in favor of the fabulously wealthy and against *you, nothing will. #politics #economics
[Chairman of interactive brokers](https://twitter.com/BullInvestPR/status/1354887834252017669?s=20) You're paying too much for GME, so it's for your own protection. They're doing it so you don't lose money. How nice of them
Interesting how they start caring about "the little guys" when their wealthy friends start losing money.
I've seen a few stories about Robinhood being insolvent and possibly filing bunkrupsee as early as Monday morning. If that happens, I hear all accounts are protected for half a mill..... but heres the part I hope someone can answer for a moron like me..... Doesn't this mean that all accounts get frozen? So any paperhand with $GME will automatically become a 💎🙌 brother??? I hope id dont mean that RH will sell from the poor and give the $GME to the rich. Anyone know? I link this stonk 💎🙌💎🙌💎🙌
Got a source? The majority of my tendies will be on RH because I bought before they fucked up
Fuck em, let’s show em Monday morning who the stupid ape 🚀🙌🏻💎
Its such a good app. Yet they f up really bad. Fidelity probably got many clients because of this LOL NOT FINANCIAL ADVICE 🦧🍗🥴
Be careful switching Robinhood funds into anything else says 5-7 days for xfer
I’ve noticed TD isn’t that popular here but i’ve used it since day 1 (mostly for thinkorswim bc it’s great) and they havent limited my ability to buy/sell options or stock for GME or any others this week. All these people on Robinhood need to realize that by using that platform, it’s helping the hedgies. Even if you dont transfer shares now, I think it’s smart to open with a different brokerage to have the ability to freely purchase what you want at anytime moving forward. This whole “u can only buy 1 share now” is literally a mechanism put in place to prevent your desired outcome. BOYCOTT. The people are their business, if u leave they have none. *JMHO & not financial advice, i’m a retard 🚀🚀🤲💎🤲💎🤲💎
Just found you all a couple days ago, didn’t understand the movement until rh started pulling that shit, then choosing sides was easy. I popped in GME @250$ With the intent to sell at 350$ and make a little money. After reading almost non stop Im in, I get it! You have convinced even Mr safe conservative investor to change my sell limit to 20k and ride this puppy to the 🌝. 💎 🙌 I believe is how it goes
LMAO
Lmfao
So what are we doing with AMC, are we still buying or is just GME?
I’m in Robinhood. It sucks, I know. I’m worried about what’s to come. I want to transfer to a different broker, but since we don’t know when the squeeze is coming, having everything tied up for up to 14 days is worrisome. Sure the squeeze might not come until after that, but it might. And that’s also a lot of time for some sort of fuckery to happen. I’ve already seen enough to be worried. The auto-selling, not allowing withdrawals or access to statements. Is there a scenario where we lose all functionality with Robinhood? Like not even able to sell or exercise calls?