Is anyone trading with fidelity, and if so, are they pulling any craziness like the other brokerages?
Don't think so. Most RH accounts are fairly miniscule compared with even other brokerages. Will have minimal impact on the overall market if these people all liquidate their accounts. Usually most people switch to another brokerage instead of just selling everything and going back home.
The housing crash was 12 years ago. That was pump and dump Gamestop is no pump and dump. People WANT to keep buying and Wall Street won't let them.
I mean I get your point to a degree if you are trying to say retailers attempted a pump and dump, but yea that doesn't really happen in mass. This wasn't a pump n dump in typical manner that would come from institutional buying in the hopes the retailers FOMO and then become bag holders. There is a legit reason behind all of this.
I can't get in on gme with Merrill either. Why is RH the only app getting trashed on in social media.
Because it's for all intents and purposes the "home base" of the entire movement, and where all the money is held. Everybody else is just falling in line and circling the wagons now because GME is on the rise again.
Definitely agree, RH traders aren't going to wait for a transfer, they're going to close all their major positions and withdraw the money to move it/hold it. I know RH obviously isn't a major major player but when RH seemed to lock some of these stocks at the perfect time (a little before their pm started) and then added more during the start of trading - it already succeeded in thrashing/scaring retail traders. I'm hoping any lawsuits actually help the little guy but I already personally saw how well that worked in 2008.
RH is going to pay for this. They blocked buying, so of course their user base panics and sells......I wonder to who? Oh perhaps the shorts?
Was thinking about switching everything over to Chase but I don’t love their platform. Anything else that is legit anyone would recommend?
