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Good thing people can still buy on RH, in order to close their short positions, because guess what? They restricted opening of new positions, meaning that if y
by betterunix2 6y ago
Good thing people can still buy on RH, in order to close their short positions, because guess what? They restricted opening of new positions, meaning that if you have no position, you cannot buy or sell. It is common, it is normal, several other brokerages took similar actions, and it is commonly done when it looks like something illegal might be happening.
- ogre_codes 6y agoFrom what I understand, they are allowing selling shares, just restricting purchasing shares. That is what makes this market manipulation. A market freeze would block all transactions.
- betterunix2 6y agoThey are allowing people to close positions they currently hold, but not open new positions. That is not the same as only allowing people to sell shares, and it is not the same as suspending trading of the security.
- ogre_codes 6y ago> "close positions they currently hold, but not open new positions. That is not the same as only allowing people to sell shares" Since RH doesn't allow shorting, the only way to close a position is by selling shares. So yes, it is exactly the same as only allowing people to sell shares.