Schwab, TDA, and others restricted trading on margin. A company saying "we won't loan you money to speculate on this volatile stock" is way different than saying "we won't let you trade this stock with your money", IMO.
I think so too, but as someone not in any sort of GME position, but on TDA (which is being acquired by Schwab anyway), this is a good reason for me to accelerate my search to move off the platform to a more retail friendly brokerage.
Not sure about either way. One thing did look interesting to me: the messages when trying to buy/ short the stock on Schwab looked strange. This might be indicative that they did not have a suitable system in place to interfere with the trading so drastically?
Initially it would say the stock ticket is wrong then after trying a few minutes later I trying short selling it would say the margins are not met (however I had more than 1000% margins) and finally it said the trading is restricted because of high volatility.
It might help the defense but ultimately the percentage of GameStop’s stock that is traded/held on RobinHood is very high (it is most of the market) and restricting trades on the platform is likely to cause serious losses to their customers. All the ingredients of a securities fraud case are present and the company stands to lose its entire business over the lawsuit.
Me too. Couldn’t make any trades, nor sell off my position as trading continued elsewhere and was dropping precipitously. I ended up selling off at $132 and lost 7k from a 10k investment just before the end of trading last night.
