This is what is the worst part about it. Having to pay £10 per month for this kind of service. What exactly are we paying for? It’s essentially a group of static screens with no api attached right now.
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Yesterday all my orders said delayed but went through at the time of clicking buy, and took a while to display. I know this isn’t any solace but FT may have assumed this would be the same. They didn’t count on crazy unprecedented demand and all other brokers blocking people out.
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Competition blocked me on twitter. AOC hating on Robinhood for blocking out the people and handing it to Wall Street. FT 2nd in the app store. What a day.
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GME should do a billion dollar placing at $200 a share and transform their business into something modern and disruptive. Now that would be a story!
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Sadly they got permission to do 100m only, which was a lot at the time, although I don’t think they’ll do it soon.
Why do you think it is capped?
Wild guess but they’ve put google docs on before and it auto caps it sometimes unless you change it.
Their business is currently surviving due people essentially gambling that their share price will go up for no reason apart from the fact that YOLO
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I’ve not been able to complete orders throughout the day. It’s completely unacceptable.
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There’s not much point saying “we are still letting people buy GME” when the system isn’t built well enough to take orders under load…
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People who want an exception for $GME have $AMC available to all
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Question: I’ve just seen a long list of brokers that temporarily put a ban on opening new positions on $GME etc. Who makes these circuit breaker decisions, is it the Exchange?
There’s a lot of people on Reddit calling out the brokers, just trying to understand who makes these decisions and how they are made, and also whether there is justifiable claim of malicious interference by large companies to protect their own interests.
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The circuit breakers are triggered automatically by the exchanges if a certain stock rises or falls too much in a certain timeframe to protect customers and the overall market. The same happened to the entire NYSE when all trading was halted last March after S&P 500 futures tanked more than 5% pre-opening.
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It seems a bit unjustifiable to hold it against the brokers then, but the messages from brokers that I’ve seen seem to say that people can sell their shares, but not buy. This must mean that the markets are still open, but the retail investors are getting specifically blocked. I’m trying to understand if something nefarious has actually gone on.
I don’t doubt that big companies do shady things to screw people over.
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Circuit breakers on an exchange (trading halt for x minutes) and brokers removing the option to buy are 2 separate things.
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Got that, so it looks like it is brokers voluntarily blocking then for whatever reason.
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Check this. It may help explaining
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I get that, regarding the short tactics. Just trying to understand if there was a conspiracy to close trading on some of these brokerages or if there were legitimate reasons.
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Given that:
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GME short seller hedge funds are being squeezed, hence on the same boat
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Some american brokers have decided to block their retail customers to buy shares in GME amongst a limited number of other tickers - retail customers can only hold or sell -, while hedge funds are freely able to continue trading without restrictions
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Some of those brokers have strong commercial ties with some affected market makers
…
What follows is pure speculation:
This could very well be just circumstantial or it could be that the short sellers may be banding together by biding the price down between themselves in a concerted attempt of market manipulation, benefiting from the decision of the brokers, a fortunate coincidence
In another thread someone called it a ladder attack.
Would I be surprised if it were all but coincidence?!
It can also be argued that the decision made by the brokers of no longer allowing retail customers to buy into those stocks was made to protect them from themselves, to protect them from FOMO driven decisions that may cost them dearly in the event that the stock price sinks dramatically and evaporates recent gains, which are sustained not by fundamentals but by a short squeeze thesis. It is possible that the memory of people taking their lives after believing they were in a big red hole is still fresh amongst the brokers that made those decisions and are trying to prevent potential liabilities.
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“What follows” does not logically follow 1, 2 or 3 really.
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