Seriously Robinhood?
Limiting the buying of stocks like $AMD $SBUX $BYND and few more names due to market volatility? Who the fuck are you to limit the amount of stocks I buy with my money? Can any of the Robinhood employees explain what's happening back there and have any valid reasoning for this dumb move?
Lehman 2.0
Either they are unimaginably fucked or they are limiting other stocks so they can say they weren't targeting GME AMC, etc
Today the GME limit was 1 stock per account. That's as close as they can get to blocking all buying.
This company is done. Vlad was the worst spokesperson possible to have on TV yesterday and wasn’t truthful about anything. Move your money to Fidelity or Vanguard.
Yeah, flat out lying on tv the having the liquidity crunch news leak a few hours after looks terrible.
I already started transfer to Webull
Lol to a Chinese owned company? They may actually be worse off given the government control of financial services.
Plus they limited purchase yesterday. Open an account with Vanguard or fidelity
Probably fucked. They are likely under liquidity constraints due to the market volatility. Use ACATS to transfer your holdings (~$75) to a different broker. Otherwise, you’ll have to pay short term capital gains when you liquidate.
Now RH employees wish they worked at SoFi
They will have to extend this restriction basically to all the stocks. No one knows how bad their liquidity situation is. Next week will be very interesting.
Quit Robing hood.
I have few open options so waiting to liquidate them and transfer my portfolio to a different broker.
Similar boat.