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I've read that you shouldn't do this because it will tie things up for a while. Liquidating the stock and moving your assets apparently is more immediate. Can
by malandrew 6y ago
I've read that you shouldn't do this because it will tie things up for a while. Liquidating the stock and moving your assets apparently is more immediate.
Can someone confirm?
- ogre_codes 6y agoThats been my experience in the past. But it's been a few years. In general consumer brokerages have little incentive to move fast when you are leaving them.
- joshribakoff 6y agoWhen brokerages aren’t allowing buys but only sells, this is exactly what they want (in the case of brokerages affiliated with institutional short sellers). Just stop buying on that platform.
- sturmeh 6y agoLiquidating your stocks to transfer them between firms has significant tax implications, both because it can cause a large number of capital gains events and can be seen as potential for being categorised as a wash sale.
- alasdair_ 6y agoThe problem is that if people in aggregate liquidate the stock, the shorts get to buy more cheaply that they otherwise would. It's unlikely you'd get to rebuy at the exact price you sold for either.
- JamesSwift 6y agoLiquidating still involves a 5 day hold before funds are "withdrawable" in robinhood