Do you think this is why the markets are for the most part shocking today?
1 Like
A friend who uses t212. This is a serious red flag for me. If the broker can decide at whim what stocks you can trade then you basically are a cash cow for them. I was not happy when FT restricted stocks to Plus that were free before but at least there was a long leadtime to decide what you wanted to do.
7 Likes
Yesterday you couldnāt even sell GME for a few hours, so now Iām out of my holding Iāll be sticking with Freetrade.
4 Likes
To buy GME or not to buy that is the question.
1 Like
Okay Iām going to bite. Does anyone think what is happening has something to do with T212 (and others I guess) lending out client assets? Might they actually be severely liquidity constrained right now with no choice but to shut these stocks down?
5 Likes
I just noticed this. They are not only allowing people to sell their positions in these stocks under the guise of protecting their clients.
1 Like
Oh no, itās barefaced clear-cut manipulation of the sort that was legislated out decades ago (so is now performed more subtly). The problem is that that legislation assumed manipulation by single actors or by tight groups. Manipulation by Stand Alone Complex (a bunch of independent imitators with no original or organisation) was not even envisioned as possible, and is functionally equivalent to and near indistinguishable from the āinvisible hand of the free marketā in action.
What can a regulator do about it? Who can you prosecute? What do you define as a condition to implement any enforcement action?
The only viable option I can think of is to prevent the conditions (short oversubscription) occurring in the first place that led to this situation being possible, but that would be remarkably unpopular with professional investors who have the court to push for and against regulations.
4 Likes
T212 blocking people buying AMC and GME is disgusting imo, itās not to protect clients theyāre essentially backing hedge funds and possibly got paid off. They cannot act as a financial advisor let alone actively making financial decisions for people.
6 Likes
These T212 conspiracies are pretty out there.
A simpler ulterior motive might be that their systems cant handle the load and theyād rather stop one (extremely popular) stock to keep the system working for everyone else.
The more people they stop buying now they better the chance their platform can handle the sell off. There is going to be a huge amount of anger (at all platforms) when people canāt get out.
If they were preventing selling Iād have bigger concerns.
7 Likes
Iām a moron and this was useful.
5 Likes
T212 make their money from CFDs, where as per their webstie, 76% lose money. T212 do not care about client risk. They donāt have the tech/support to handle the increased demand for stock trading, and they donāt see any immediate way to make money there.
6 Likes
If theyāve loaned out GME stock to shorts, and those shorts are in deep 
and canāt give them back, meanwhile the actual owners of the stonks are going to want to sell them at some point for massive profits, that could put them in an awkward position? this would apply to all brokers who loan out stocks, presumably thereās something in their terms an conditions (that no one has ever read 
) about this?
3 Likes
A nice pre-market warning on Twitter from Freetrade just now:
4 Likes
They should pre warn everyone in the app as well so people know what to expect
3 Likes
Yeah I agree with this
1 Like
Need to wait for friday close, many options will expire and people will take profit. Friday before market close it the time see a good price
1 Like
No I think itās causing problems but the entire US stock market has been crazy for a while, perhaps six months or more. I would suggest this current story is a symptom of a wider problem, of the increase in outright gambling on markets rather than building stability
2 Likes
Robinhood has also blocked people buying GME, AMC, NOK and BB if anything is market manipulation itās these trading companies for retail investors shutting them out of making their own financial decisions.
12 Likes
Iām liking that we are slowly stepping back in time through meme stocks as this spreads from GME.
Looks Iām going to finally be able to drop these Nokia bags
What next, might we finally see MU90?
2 Likes