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Robinhood Restricts Trading On GME & AMC – Is This Legal?

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Robinhood Restricts Trading On GME & AMC – Is This Legal? | Coffee With Markus | Special Episode

I’m pissed! Because brokers are restricting our right to place trades! And that’s outrageous!

So in this video, I’ll talk about:
1.) What is happening?
2.) Is this legal? and
3.) Do they have the right to do this?

Before we do this, let’s take just 30 seconds to talk about what’s happening:

WallStreetBets, a popular forum on Reddit with millions of followers, decided to declare war on hedge funds, especially short sellers. They chose a few stocks as targets and drove prices up, so that ultimately Short Sellers, who were mocking the “small account traders” had to surrender and lost billions of dollars.

Amongst those stocks were Gamestop (GME), AMC Theaters (SMC), Blackberry (BB) and Bed Bath and Beyond (BBBY).

And here’s the latest development in this craziness:

Brokers are restricting trading.

It started yesterday with TD Ameritrade and Charles Schwab restricting trading on these “Reddit stocks” – and it has really spread.

Today, Robinhood decided that it is only allowing traders to sell to close positions on 12 stocks:
https://blog.robinhood.com/news/2021/1/28/keeping-customers-informed-through-market-volatility

And Interactive Brokers is only allowing traders to sell to close options on GME, AMC (AMC), and BlackBerry (BB):
https://investors.interactivebrokers.com/en/index.php?f=48199

Express (EXPR) and Koss (KOSS) are on that list, too.

And it’s requiring 100% margin on long stock positions and 300% margin on short stock positions until further notice.

And some brokers aren’t even allowing new clients!

Check out this tweet from trading app Trading 212:

So let’s talk about this: Is this legal?

Yes, I’m sure there’s something way back on page 100 of the terms and conditions that allows brokers to do this.

But is it right? – Absolutely NOT!

Trading is risky. We all know that. That’s why we sign all these disclaimers.
We can’t sue brokers if we lose money.

So let us do what we want!
Dear Brokers, please listen up: THIS is America!

I’m not interested in trading Gamestop (GME), and I have talk about my reasons for it in another video. In fact, I’m VERY happy with my positions that I have in my account right now. And as you can see, I’m up XXX today.

BUT: If someone wants to go all in on GameStop, they are allowed to do that.
If somebody wants to gamble $1,000 on GME, let them us it!
Let me show you how idiotic this is:

New Concept Energy (GBR) is up 600% today. And I can buy and sell shares on GBR all day long!

But I’m not allowed to do it on Blackberry (BB)? Or Bed Back and Beyond (BBBY).

Dear brokers and clearing firms, PLEASE listen up:
If you get pressure from “the big guys” to restrict the little guys from trading, say “NO”.

It’s OUR right to do what we want with our money.
If we want to gamble in Vegas and put $1,000 on red, we are allowed to do that, right?
If we want to spend $1,000 on Lottery tickets, we are allowed to do that, right?
But we are not allowed to take $1,000 and buy Gamestop (GME) or AMC?

Give me a break!
THIS is too much!
You owe us an explanation, and “significant market volatility” is not an excuse.
I have just shown you the example of GBR: up 600%, and I can STILL buy stocks!

If you are watching this video and agree with me, share this video.
Our voices need to be heard!
THIS is wrong – and it needs to end – NOW.

#GameStop #GME #WallStreetBets

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Did Charles Schwab Restrict Gme, Robinhood Restricts Trading On GME & AMC – Is This Legal?.

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An example of this would be the Vanguard 500 mutual fund. What he required assist with was how both he and his people could be more effective. I totally flipped out and called the authorities.

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7 Terrific Organization Books You Should Read

The other night I was viewing the History Channel’s show about the people that “constructed” America. Follow these steps and you will find that your credit looks much healthier and healthier each day.

Charles Schwab, who was the president of Bethlehem Steel, employed Ivy Lee to increase his effectiveness. When Ivy taught the technique to Charles, Charles asked him just how much it would cost him. Ivy said he didn’t have to pay anything for it now. However he informed Charles to offer it a shot. Then Charles could send out Ivy Lee a look for whatever he felt the concept deserved.

When brand-new sales individuals approach a new prospect, they are always advised to utilize a script the first few times. As they gain self-confidence, the words start to stream more naturally and they are able to discard the scripts and end up being much better at selling.

Ivy Lee’s plan worked well with the executives of Bethlehem Steel. Charles Schwab was so pleased with the results that he paid Lee $25,000 a huge sum in the early twentieth century.

Then, you established other retirement accounts after enabled contributions to the Individual Retirement Account are maxed out. You might be permitted to contribute as much as a specific quantity in other accounts. The contributions each year will probably not be exempt from taxes because particular year, but the development of these accounts throughout the years should be tax complimentary. The contribution and the law restricts modification on this from time to time. Edward Jones, Charles Schwab Trading, and others can recommend you on this. After maxing the 401(k) and Individual Retirement Account contributions, you employ the very same pain-free “stroll up” method with every raise till you max out contributions to these other pension also.

Summary Charles Schwab Investment page – As soon as your accounts are synced online, you have a peek at the present balances of all your accounts on one page. Scroll down to see the amount of all your possessions, your current liabilities and net worth.

They’re going to be injured, and disappointed. And, your relationship is unlikely to surpass the wave farewell as your good friend gets back in their car to go home.

Don’t be reluctant to ask for a refund if you really feel the product was misrepresented. Inform that marketer about what you feel was wrong. They are worthy of to provide all their cash back if they do not enhance. Just do not be one of those awful people who purchases an expensive item KNOWING they are going to request for a refund. That’s the same as stealing and is dishonest. If we want the benefit and satisfaction of having the ability to right away download what we have purchased to continue, we can’t bleed the online merchants dry.

When the graveyard shift came, they asked about why there was a big number 6 drawn on the flooring. Does Warren Buffet every state “I don’t have the money”? Benefits are why your customer requires your service or product.

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