few days ago, bought 153k of STPK @ 27.00 (in my fidelity account) I randomly notice it was +3$ AH and now is +2$ AH (EDIT: after hours, post was written Friday afternoon) I go check stocktwits for why.. is Friday afternoon.. who buys Friday afternoon There i see from comments/buzz, it was mentioned on CNBC fast money final trades -> one of the show hosts (Steve Grasso) mentions that stock was strong buy with a price target of 70 which is great for me as a stock owner, that is the buzz you wanna have associated with stock you own, as it usually creates a buy pressure and moves the price up (people on average want to get in before that perceived arbitrage difference is lost, for example some watcher may say "this dude said it is worth 70, if i buy it now at half a price, i ll get to run it for at least ~ten percent, i ll put 1k into it, maybe it doubles even" -> such actions/moments create buying pressure) AND WHAT DOES THE ROBINHOOD DO? robinhood restricts people buying STPK to total of 1 share per user (attached screenshot of some robinhood user) First they came for the socialists, and I did not speak out— Because I was not a socialist. Then they came for the trade unionists, and I did not speak out— Because I was not a trade unionist. Then they came for the Jews, and I did not speak out— Because I was not a Jew. Then they came for me—and there was no one left to speak for me. Don't be lame #robinhood , k ? TC: $DASH (>500) EDIT: to anybody saying it is not RH problem, it's the clearing house.. or whatever excuse. No, RobinHood goes around overpromising and underdelivering as broker. They failed. Massively. Instead of reaching out to Fidelities/other broker to front run their orders for commission (they will pay, they'll assign a team to implement this over night), ANYTHING/something to keep their customers happy, They chose to lay down, do a bit of (bad) PR and throw their hands into the air.
never used RobinHood, it was garbage to me even back then when i had to pay ~7$ fee to fidelity and RobinHood was "free" I use fidellity (no1 in my opinion, 2% cash back cc), schwab (good for second hand bonds, they give checkbook and visa with no ATM or foreign fee) and i have some other brokerages. I m complaining that asset I own was placed on some RobinHood naughty list - for no fair reason, no explanation. (it may be cultural. You see, where I come from, is not good to be on anybody's list) This story on GME started bothering me internally week ago, and random people would ask me on my opinion. And I'd state I don't get involved in such matters. I love stock market, I look at it as freedom of expression and your right to vote with your money. And to suffer or prosper from the consequences of taking action. Now I regret not adding my voice to the matter earlier as I see assets I own are targeted. So adding "one more story", I rarely speak out. I don't mind brokerage like schwab saying you cannot buy this security on margin (so "called restricting buys" like they did on GME). I'd call that bad service and if it was my only broker I'd quickly move to add more. But RobinHood LIMITING WHAT YOU CAN DO WITH YOUR MONEY is beyond imagination, that is not bad service, that is fraud
It’s a movement against the rigged stock market. It’s great this is bringing this bs corruption to light. I really hope the ppl and justice wins.
Lost you at kewl kewl sorry
ah, my bad. rewrote it to be broadly understandable, please do voice if still unclear
I went to buy GME on Thursday and it was $9999 a share on TD. App was down, website was down. ThinkorSwim was 100% up. Rumor is they allowed High Net Worth to buy with TD though.
these are sad times when across the board "you are not able to trade with your money however you like".
From using three brokerages, i think Fidelity simplified ticket is best for newbies (all you newbies do your decisions on your own, this is just an fyi). I think you can have simplified ticket only on desktop app (i use phone app just to do a limit sells if i am out and alert fired, never bought on phone) Few clicks, automatic fractional share trading (in image is market order with 500$ because that is how i imagine newbie, maybe 50$ was more accurate, don't remember how newbies trade. I also do not recommend trading GME at all, but as this is major contested stock, i placed it into ticket)
Market orders can execute at just about any price. Use limit orders instead
it was an example for a newbie, ^ right, i think never in life i used market order i don't know if RH people just market order 50$ around: if somebody is buying 50$ of very liquid stock (aapl) do they care for the limit ?
Why you using RH with yr salary? Serious question.
What alternative do you suggest? Private mgmt?
Even as far as retail brokers go, Fidelity provides better execution