Robinhood. Webull. Tastyworks.
This morning, these brokerages of mine got shut off from the ability buy stocks or open new option positions on GME and a handful of other stocks. But the ability to sell was still there. And institutional traders can still buy these stocks.
There were other brokerages too that shut the ability to buy GME.
TD. Schwab. Interactive Brokers. Public.
In case you’re not aware of what’s been happening so far, let’s do a super quick recap.
Hedge Funds shortsell GME way more than there are actual shares of GME.
Retail investors backed up by Ryan Cohen, Chamath Palihapitiya, and the army of Reddit’s wallstreetbets decided to buy and hold GME so prices went up.
The short positions were forced to close in order to stop the losses pushing the prices higher into a Short Squeeze.
Retail investors continue to buy and hold.
Hedge funds double down on their shorts and open new positions believing the scattered internet will back down.
Didn’t happen. The army kept buying and holding.
The Squeeze went even higher.
And today, Friday 1/28/2021. Buying the stock was stopped. This means the price of the stock can only go down.
So far, there has no acceptable explanation on this trade block across the board. There’s a lot of speculation on what really happened behind the scenes and each interview with the Robinhood CEO leaves more questions than answered.
Yesterday, I had opened some put credit options rooting for us little guys. Today, it became personal. I found that I had money available on my HSA and went forward with buying shares on Fidelity.
Let’s go! to the Moon! #diamondhands #holdtheline