While a gentle jaunt through the Freetrade Community pages provides a relatively calming antidote to the frenzied Gamestop speculation you’d find on Reddit, it’s difficult to avoid asking yourself the question: What if they’re right?
While the hype can get a little embarrassing at times as excited teenagers declare that a million dollars a share is now their ‘floor’, it’s worth considering even for a moment the implications for Freetrade on the outside chance that they’re right
It’s absolutely apparent that buying shares in GameStop isn’t a run of the mill trade. Firstly, the stock price has long since parted company with the fundamentals and it’s pretty clear that something unusual is afoot.
For the sake of argument, let’s imagine that the Mother Of All Short Squeezes is imminent. Where would that leave Freetrade?
If you’re one of the tens of thousands of Freetrade customers who are suited and booted for a rocket trip, you want to know the company already has its mission plan in place, right?
$GME is one of the most popularly traded stocks in Europe this year, so it’s inevitable that a huge number of Freetrade customers would be depending on the company to maximise their returns IF the improbable happens.
So, what’s the plan? There’s no room for error when we’re in outer space.
Will selling limits be removed to maximise returns? Are custodial arrangements battened down? Should there be extra fees to cover any extra costs? What else do we need to prepare for, just in case?
It may never happen. Maybe it’s the Millenium Bug 2. At this point, nobody knows. But the time to plan, just in case, is now. Please share your thoughts and Freetrade, if you’re listening, we’re all ears.
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