GME and AMC stock action (out of main)

[Yuri_G]

Well, RH just lost my multi-million dollar account. Any suggestions on a new brokerage? I've been looking to move anyways since you can't even name a beneficiary on RH(!).

I guess the choice is between TDA, Schwab, IBKR? Any others I should take a look at?

https://tastyworks.com/

 

[H Mak]

GME is in freefall!

 

[Prunesquallor]

Looks like the music stopped playing in GME musical shares

All of them. EXPR, BB, KOSS, GME. Whammo!

 

[DaveG_NJ]

GME is in freefall!

Under $200. Glad I sat this one out.

 

[c041v]

I still haven't found a better show on Netflix than GME.

Glad I was in an out on this one, the volatility is crazy. I didn't expect to learn just how unhappy I am with my brokerage (TD) over this though. I am also quite disappointed at how this has been handled - although @AudubonB makes some very fair comments about getting what you pay for.

 

[H Mak]

GME range for the day: $482-$196. Wow.

 

[Silentk]

Robinhood needs to die after this. There can't be any coming back from manipulation this blatant.

I'm with Schwab and only had some hiccups that seemed to be due to high volume. I have a sizable position in GME and a bit of AMC I'll be holding. They've all but ensured a powerful Streisand effect from halting buying -- at some point it must resume and demand will be higher than ever from the extra publicity.

I saw RH now have 100,000 1 star reviews. Death knell?

 

[chronoreverse]

Ah so that's how they finally figured out how to cheat it back. Prevent buys and it can't go up!

Just yesterday they were lying through their teeth about "caring about the little guys getting hurt". Then today they pull strings to make it happen.

 

[Nocturnal]

Their real customers may be the hedge fund but they still need the retail users to operate. I am shocked that RH would be so shortsighted to spite their largest user base. Reddit basically built RH. With an upcoming IPO in the works as well? I don't see how they recover from this.

RH is going to be bankrupt before the IPO is even completed.

 

[Boomer19]

IB pulled something similar to RH today. I would avoid them.

I have Fidelity and Schwab, I have liked Fidelity better, had problems executing trades on Schwab yesterday, but the margin rates of both suck.

IB and Fidelity still best (#1 and 1a) every year for last 9-10 years in the online brokerages rankings from Barrons, who seems to be the only outlet that does an in depth analysis of the topic

 

[Prunesquallor]

Ah so that's how they finally figured out how to cheat it back. Prevent buys and it can't go up!

Just yesterday they were lying through their teeth about "caring about the little guys getting hurt". Then today they pull strings to make it happen.

WSB are going to be piiiiiiiissed off. RH better NOT IPO. WSB will short them into oblivion.

 

[Tslynk67]

The brokers sell their souls to Wall Street and sacrificed retail on the altar of the Hedge Funds

In case you ever wondered who is in control

I believe this is a seismic event that will have massive implications going forward

And RH, I think it's over for them, who the hell would trust them ever again?

Edit: I sold off the $EXPR at $4, should've moved earlier on that, but better to get something back. He-ho, not much in the grand scheme

 

[MTL_HABS1909]

How are people forgetting that RH's real customers are the hedge funds? The whole point of RH was to allow the big institutional investors access to trade flow. Of course they would be doing this today, their real customers asked them to.

Exactly. If you’re not paying for a product, you’re the product being sold!

 

[Silentk]

Oh, how much can change in less than a day...

 

[Nocturnal]

IB and Fidelity still best (#1 and 1a) every year for last 9-10 years in the online brokerages rankings from Barrons, who seems to be the only outlet that does an in depth analysis of the topic

That rating for IBKR won't last long. I use them for my non-retirement account. Pulling out everything piece by piece as it makes sense.

WSB are going to be piiiiiiiissed off. RH better NOT IPO. WSB will short them into oblivion.

1000%. People think WSB was mad at Wall Street before this. Now it's a full blown rebellion. I'm going to buy puts on IB as well. They are dead to me. Oh, I'm an accredited investor with 400k in that account and I'm not "allowed" to buy GME? Sure.

 

[tstolze]

I saw RH now have 100,000 1 star reviews. Death knell?

100,001

 

[chronoreverse]

Any Canadians here? I've heard that both TD and RBC pulled shenanigans too. It's not even about low or no fees since I prefer to hodl, it's about being on a broker that isn't outright participating in this crap.

 

[MikeC]

Can’t buy shares in Schwab or Fidelity either

Edit: Schwab did go through when I tried again

 

[Causalien]

This is not a matter of "you get what you pay for anymore" . (coincidentally, I keep hearing this same line from pros in the financial industry) As IB, considered the top, also joined in on the blocking bandwagon." I will still use IB, but it won't be for mission critical trades anymore. ToS stand out as top broker from this mess. No technical issues, no blocking of anything.

Surprisingly, the bigger the brokerage, the more they are likely to abide by the pressure from higher up or experience technical issues. The smaller brokerage I have ended up navigating the storm much better.

 

[Nocturnal]

This is not a matter of you get what you pay for anymore. As IB, considered the top also joined in on the blocking bandwagon." I will still use IB, but it won't be for mission critical trades anymore. ToS stand out as top broker from this mess. No technical issues, no blocking of anything.

I'm going to have to check them out. Vanguard still lets me trade GME as well. I bought a few there just to hold as a reminder.