2nd February 2021: $GME, $AMC, $NOK buys now enabled

I do understand, itā€™s down to volume and time to be effective. Itā€™s more of smoke being thrown up around it to increase sells of silver.

You type in how many of that 4.9 you want to sell.

1 Like

I get that, but why on a platform where you canā€™t buy on margin?

Letā€™s be clear here, this isnā€™t just on Freetrade, but a lot of other platforms some which do have margins, but others which do not.

Again, this is protective of those companies which have put themselves at risk by allowing margin trades to begin with. Again, protecting large financial companies when they have their hand in the till. They knew the risks regardless of which side of the trade eventually prevails.

As I understand it the clearing houses that serve multiple brokers - including some that allow margin trading and some that donā€™t - have very specific margin requirement rules which have been increased significantly on a handful of securities due to the recent volatility.

As such, they have been limiting buy side activity on these securities to mitigate the risk on not having required margin to avoid a liquidity crisis - which if it came to pass could potentially have whole-market level impacts due to cross exposure.

This is why DeFi can improve the current system and allow for instant clearing on underlying asset sales and purchases.

Remember it still takes like two days for things to clear.

2 Likes

I do that and it says 0 shares available underneath. ā€˜Sell allā€™ doesnā€™t work either

Have you checked if the app needs an update on App Store?

100%, there are still buys happening of suspended stocks and I think thatā€™s where the suspicion comes from. If you canā€™t buy it who is buying it, the volume doesnā€™t match value decrease when it comes to GameStop as an example. As I say itā€™s just very interesting to watch but we should be using the time to help educate people rather than patronise people as some users post are coming across.

Have you got a stop loss or anything tied to those shares? If so youā€™ll have to cancel that first before putting a market sell through.

4 Likes

yes i have

He says heā€™s a value investor, he was also shorting stocks himself not so long ago :man_shrugging:

Source: Bloomberg - Are you a robot?

In the silver throne?!

1 Like

It would be great if FT could allow for the share positions we hold to be traded locallyā€¦ i.e. never leaving FT (just between FT users) and therefore subject to none of the trading restrictions currently in place. Not sure where this would leave FT in respect to compliance obligations though.

ā€œDepository Trust Company (DTC) advised last night to clearing brokers that margin requirements for GameStop, AMC and Nokia will be raised, causing the collateral requirement imposed on DriveWealth to increase by 250%.ā€œ

Class inequality. Goes against the ethos of this company.

Partners donā€™t have to share the same ethos but at least there should be some USP.

These companies are blocked across the board. I donā€™t think any platform has it open for buying.

Surely the restriction on buying is a clear manipulation of the market?
The ā€˜buyersā€™ are those that hold the support line and so without many of them the price will just freefall and see many make losses (dependant on how large the fall is and where people entered) which as of right now is currently a steep drop.
Will there be any way these individuals could be compensated as a strong case could surely be brought against those who restricted trading?

1 Like

Hedge funds will be clearing those short positions right now for 1/3 of the priceā€¦

This whole saga is an absolute outrage. The amount of criminality shown by financial institutions throughout is a disgrace.

If the SEC had done its job properly then none of this would have ever happened.

WSB have done a better job of regulating hedge funds here than the SEC has.

2 Likes

When DTC says margin raised by 250%, what does that actually mean?
Rather than 10% of the SP, FT has to deposit 25% (25 is 250% of 10)? So if a stock is Ā£100, FT has to deposit Ā£25 or does FT deposits a fixed amount per day that has now been raised 250%?
So if those deposits are instant, then the redeposits from DTC to FT are instant as well. It plays eachother out, no? Also, trading restrictions have been in place so the deposits should have settled properly by now. Why are these restriction still on then?

Only if diamond hands transform into butter hands

If everyone keeps holding the low price is artificial because buying is banned for retail

3 Likes

Any reason why LGVW buy option isnā€™t working?

Sorry if I am missing something, but I see many stocks closed to buy. Wasnā€™t it just the ones mentioned?

do you have any orders set, like stop loss or limit sell?