XNET
it's a crypto play. most likely i'll buy some on monday and see what happens.
Boiler Room: The Official Stock Market Discussion
XNET
it's a crypto play. most likely i'll buy some on monday and see what happens.
How many lives have these banks destroyed? Radical change requires sacrifice
The boiler room is transforming into hot garbage.
I blame dogecoin , gamestop and robinhood. All the helpful inciteful information about good companies have been put on pause for gamestop and robinhood fukkery
GetRichOrDieTryin
Superstar
This is one I didn't sell to get into GME
GetRichOrDieTryin
Superstar
How do you guys find this information besides the obvious way of just researching consistently?
Any apps or sources I should use to consistently feed me info?
Any apps or sources I should use to consistently feed me info?
tofuspeedstar
Bosozoku Champion
Taking my AMC profit on Monday to load up on IPOE.
Chamath take me to the promised land
May load up on CCIV too since they’re the rumored SPAC for Lucid Motors (Elon’s nightmare)
Chamath take me to the promised land
May load up on CCIV too since they’re the rumored SPAC for Lucid Motors (Elon’s nightmare)
I just did some reading around and seen that etrade also restricted purchases of AMC/GME...fidelity held strong tho...signing up with them now...I’m just not too crazy about their 2FA...I’m used to authy or authenticator...fidelity uses some app from symantec that has some shytty ratings
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Because if you sell the cash from the transaction doesn't have the collateral requirment. Buying requires the T+2 collateral requirment. The collateral requirment is usually 1-3% or something small. As these stocks became more volatile the collateral requirment the clearing houses had to put up skyrocketed from 1-3% to 100% of the transaction price. The central clearing house did that not Robinhood. Robinhood does their own clearing and they didn't have the cash to meet the 100% requirement on said stocks so they had to stop the buying. You aren't supposed to sell a non-settled stock so when you sell the cash you get is already settled.fukk these hedge funds. blame them for shorting a stock over 100%
buying more GME on monday
keep defending robinhood outchea
When you sell a stock you can't withdraw the funds until the transaction settles. It's a balance on a screen until T+2 days. When you buy that's new money and it has a deposit requirment the clearing house has to put up for T+2 days.
Think of it like the opposite of eBay. On eBay the seller pays the fees. In this case the transaction requirements are on the buyer side.
Since nobody on Robinhood could buy GME they didn't have to put up any collateral for purchasing transactions. Thus they could stay in business.
The real question that you should be asking is why the central clearing house raised the collateral requirment to 100% of the purchasing transaction amount.
With all the volatility and volume it's unreasonable for most brokers and clearing houses to front 100% of the cash for T+2 days every day on all those transactions when normally it's a fraction of that. Eventually it will suck up all their free cash sticking it in limbo until settlement.
Think of it like the opposite of eBay. On eBay the seller pays the fees. In this case the transaction requirements are on the buyer side.
Since nobody on Robinhood could buy GME they didn't have to put up any collateral for purchasing transactions. Thus they could stay in business.
The real question that you should be asking is why the central clearing house raised the collateral requirment to 100% of the purchasing transaction amount.
With all the volatility and volume it's unreasonable for most brokers and clearing houses to front 100% of the cash for T+2 days every day on all those transactions when normally it's a fraction of that. Eventually it will suck up all their free cash sticking it in limbo until settlement.