Could Robinhood block people from SELLING?

Oscar
usVe35

Go to company page Oscar

usVe35
Jan 30, 2021 3 Comments

Given all the recent news with GME and other stocks, I’m very worried about RH doing more shady things, especially during the squeeze (if it happens) and block folks from selling. Either that or have some sort of outage that will break the app or something. Either way, my trust and confidence is completely broken and I will be doing a transfer in kind ASAP to Fidelity.

That being said, the timing of all of this puts myself and I’m sure many others that want to leave in a pickle. Seems like the best thing to do is to just keep holding until this is all over. So I have a few questions:

1. I’ve seen tweets and posts about RH “going under” or SEC investigating them and thus will freeze accounts which will take months to get your money out. Is there any truth to this or is all fear mongering?

2. RH already blocks buying, but is there any reason or incentive for them to block selling?

3. Last stupid question, is it possible for me to initiate a sell, RH to error out, and those shares are forever lost in the ether and I never get cash for it?

Thanks to anyone that can give insight to this!#finance #robinhood

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