The Brehs of Wall Street (Offical Stock Market Thread)

[FaTaL]

Robinhood went broke in January and got bailed out by Citadel iirc. And Citadel has been scrambling for cash themselves this week selling bonds.

Thats why they stopped buying. They claimed it was because of clearing houses but the real issue is they didn't have the bread.

Now GME share price is rougly 150$ away from where it was when then. I don't think they can handle the nuke. I want my shares out before gme shareholders meeting/earnings

Maybe I need to transfer as well

 

[FaTaL]

Webull is maybe worse.

They restricted buying too, probably has less bread and they are based in CHINA. They can do illegal shyt and give no fukks.

Thats probably why they offer so many free stock programs

Yea I wouldn’t advise giving your personal info to them, there hell bent in collecting everybody’s info

 

[FaTaL]

I started a fidelity transfer. So if the squeeze happens today or tomorrow, yall welcome.

Someone dug out Robinhood's financials for January and saw that these dudes got margin called back during January's run up. That's why they're still trying to rush out their IPO in spite of the horrible press.

Im getting my shares TF out of there. At least Fidelity is playing the squeeze too so there should be no liquidity issues once it happens.



F

Use candles my man.

How long is the transfer supposed to take? Ive heard anywhere from 3 days to 3 weeks

 

[Kenny West]

How long is the transfer supposed to take? Ive heard anywhere from 3 days to 3 weeks

I've seen some people have it done in 2 business days but I've seen 2 weeks as well. I started mine this morning and GME transactions are already restricted due to the transfer on RH so its working. The inital estimate date they gave me was on the 23rd. just in time

The quickest you can do is partial account transfer which just sends shares of whichever security you pick (gme in this case)

I dont know if I have options trading unlocked on Fidelity yet, but I hope I can trade my SPAC calls over there next week too.

 

[MeachTheMonster]

Yolod some money into AMC today.

Got in at a good price early so I’m already way up. Averaged up a lot today but fukk it. I got faith in internet fukkery. Thus far the internet is undefeated. I’m trying to change my life

 

[Mass]

I've seen some people have it done in 2 business days but I've seen 2 weeks as well. I started mine this morning and GME transactions are already restricted due to the transfer on RH so its working. The inital estimate date they gave me was on the 23rd. just in time

The quickest you can do is partial account transfer which just sends shares of whichever security you pick (gme in this case)

I dont know if I have options trading unlocked on Fidelity yet, but I hope I can trade my SPAC calls over there next week too.

There’s smoke in the vents we need to hurry up and get out

 

[Kenny West]

There’s smoke in the vents we need to hurry up and get out

Yep thats what im thinking. And whats worse is RH business model may not have you owning your actual shares but more of an IOU, since Citadel themselves are their market makers. Their model is payment for order flow. Citadel pays for that, thats their backer.

If a mass wave of (presumably redditors) started moving to Fidelity who forces Citadel to purchase the real shares then.... shorts owe at least 2 shares for every one.

Thats why I feel like transferring now is the last call. Wouldn't be surprised if Tuesday the price is inflated before the earnings call news is even released but the media will blame that

 

[I Really Mean It]

Where did you read this?

Reddit. Some of it was the result of what was said during yesterday’s hearing in Washington, where Robinhood executives admitted their customers don’t actually own their shares, which are instead IOUs that need to be fulfilled at the time of a sale. That and other shadiness, because of how much bread is at stake, convinced me to transfer my shares to a more legitimate broker. I’ll still use them for other stocks, but it’s clear they’re up against the wall with GME and AMC, which means their stewardship of our shares isn’t to be trusted.

 

[jdubnyce]

You put your hard earned dollars into the hands of this man?

Get out

 

[I Really Mean It]

I've seen some people have it done in 2 business days but I've seen 2 weeks as well. I started mine this morning and GME transactions are already restricted due to the transfer on RH so its working. The inital estimate date they gave me was on the 23rd. just in time

The quickest you can do is partial account transfer which just sends shares of whichever security you pick (gme in this case)

I dont know if I have options trading unlocked on Fidelity yet, but I hope I can trade my SPAC calls over there next week too.

I just tried to purchase AMC stock on RH, in an attempt to test it out, and received a message that read: “account cannot trade that instrument.”

I only just called E Trade to initiate the transfer this morning, so it seems they move fast. They advised me that the process is faster if you upload your RH monthly statement for verification, which I did. I don’t know if Fidelity has a section that lets you upload those docs, but you might want to check.

 

[Kenny West]

I just tried to purchase AMC stock on RH, in an attempt to test it out, and received a message that read: “account cannot trade that instrument.”

I only just called E Trade to initiate the transfer this morning, so it seems they move fast. They advised me that the process is faster if you upload your RH monthly statement for verification, which I did. I don’t know if Fidelity has a section that lets you upload those docs, but you might want to check.

They do and I did. Thats the same message I got.

I gave them nikkas every statement since I started owning GME Find my god damn shares Vlad!

 

[Mass]

Yep thats what im thinking. And whats worse is RH business model may not have you owning your actual shares but more of an IOU, since Citadel themselves are their market makers. Their model is payment for order flow. Citadel pays for that, thats their backer.

If a mass wave of (presumably redditors) started moving to Fidelity who forces Citadel to purchase the real shares then.... shorts owe at least 2 shares for every one.

Thats why I feel like transferring now is the last call. Wouldn't be surprised if Tuesday the price is inflated before the earnings call news is even released but the media will blame that

merrill edge talking 9 days and I have to apply for options reading of course. I had options positions but they expire tomorrow so I’ll ignore that. Nine days is the killer though I’m not sure if I want to be in limbo on Tuesday unable to make any moves waiting for a transfer

 

[Mass]

I just tried to purchase AMC stock on RH, in an attempt to test it out, and received a message that read: “account cannot trade that instrument.”

I only just called E Trade to initiate the transfer this morning, so it seems they move fast. They advised me that the process is faster if you upload your RH monthly statement for verification, which I did. I don’t know if Fidelity has a section that lets you upload those docs, but you might want to check.

Yea good info I gotta do all this when I get off work. Work is bullshyt it’s 8 hours of your day literally gone to waste

 

[Kenny West]

merrill edge talking 9 days and I have to apply for options reading of course. I had options positions but they expire tomorrow so I’ll ignore that. Nine days is the killer though I’m not sure if I want to be in limbo on Tuesday unable to make any moves waiting for a transfer

Well you call them and cancel per robinhoods terms. Idk how it will go

You gonna have diamond hands for sure now whether you like it or not better buy a share on your new platform to hedge your bet

 

[Kenny West]

Its funny to see the market still dipping after the postive FED meeting. No rising rates yet the next day the market dumps again with no explanation. The media can no longer blame Powell & inflation fears as the reason for the hedge funds pumping and dumping to short meme stocks.

Someone out there knows they still have more crow to eat