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Well, to be fair - they are at least allowing sales, just not purchases.
by djrogers 6y ago
Well, to be fair - they are at least allowing sales, just not purchases.
- EGreg 6y agoTo be fair - this would be called illegal market manipulation (pushing stocks in a downward direction)
- joncrane 6y agoHow convenient that people are now "allowed" to close their positions, now that the number of counterparties to that trade is dramatically reduced...
- ngngngng 6y agoWho do you sell to if purchases aren't allowed?
- Brystephor 6y agoother brokers still allow buying of gamestop stock. This is purely robinhoods decision to block trading using their app. There is no official market wide block.
- ineedasername 6y agoThe problem is that much of the buy demand seems to be on the retail side. But the retailers have shut that down, so you're left selling to a portion of the market that has the lease demand for what you're selling.
- joncrane 6y agoMost other major retail brokers are also locking out GME, AMC, and co. For example Interactive Brokers and Revolut have followed suit. I believe Ameritrade is also restricting trading.
- isatty 6y agoWhich doesn't matter - averaging down is a valid strategy.
- UK-Al05 6y agoThat's worse. Institutional investors want people to sell. It's in their advantage. It quite clearly a one way benefit for banning purchase but not selling.