Economy stonks v13, gamestonkegeddon

[Wadtucket]

Same. What is going to happen if they go tits up? I was planning on letting current positions ride and just cycling out of RH to Fidelity as I close them, but now it looks like RH is planning to make to just the thing down and make off like a bandit.

You are ostensibly FDIC insured but that only ostensibly covers the first 500k

When they go bankrupt the rest is gone with the wind

Also, there is no way FDIC insurance is gonna bail out everybody. President Harris will sign an executive order saying that since gains were made on Nazi Trump Supremacist Alt Right Russian Covid Denier Conspiracy Pepe Domestic Terrorist stocks, there will be no payouts. Mark my words

 

[HOLA]

President Harris will sign an executive order saying that since gains were made on Nazi Trump Supremacist Alt Right Russian Covid Denier Conspiracy Pepe Domestic Terrorist stocks, there will be no payouts. Mark my words

 

[Wadtucket]

Wanna bet

 

[HOLA]

Wanna bet

I'm always down for a bet. What are we betting?

 

[brackis1]

Eh, I don't know. I planned on finishing my career teaching at some university somewhere in California. I know the head of our Psychology department pulls around 300k a year. Hell, the history teachers I've had are making 200k+ teaching 4 or so classes.

Still doesn't change the fact that Elon was putting fools on money

That's admirable and I legitimately commend your pursuit of teaching and hope you get paid well for it. CA is a nice place to be for sure.

 

[rob mafia]

this thread sucks so much more than the worst parts of all the previous ones combined.

 

[Gas121]

Yeah bruvva I'm trying but they are limiting withdrawals and I can't initiate the next one until the first one clears

At this rate it's gonna take me a year to get my cash out of RH

That's some scary stuff mate. Obviously none of us knew they were in bed with the big boys. Kinda not surprised either but christ this is like someone using your bank card without you knowing.

Hope you get it all out ASAP. Complete crooks. Rest assured there be getting sued for sure.

Keep stonking

 

[brackis1]

this thread sucks so much more than the worst parts of all the previous ones combined.

I'm silly exhausted from having toi reply to texts emails and calls from relatives and friends today asking random questions.

 

[Revolver]

I'm done with them

Issue rn is that that they have withdrawal limits and I don't know if I can get all my money out of there before Robinhood goes bankrupt/gets shut down

Shit's making me a lil nervous ngl

Damn fam. Try to get your shit transferred over to a new broker ASAP.

 

[HOLA]

Damn fam. Try to get your shit transferred over to a new broker ASAP.

Should probably keep this in mind though, this is one of the top comments on Reddit:

"DO NOT TRANSFER YOUR ACCOUNT IF MOVING TO A NEW BROKER. Open a new account on a different broker and fund it. If you transfer your account, it could be up to 15 days before you are even able to sell your transferred securities. RH will lock your account during the transfer. I transferred two weeks ago and still don't have access to the cash in my account and can't transfer it out.

Make sure people know this!

Obviously not financial advice but a warning that you can be locked out of your account and unable to continue trading."

 

[G-19]

Same. What is going to happen if they go tits up? I was planning on letting current positions ride and just cycling out of RH to Fidelity as I close them, but now it looks like RH is planning to make to just the thing down and make off like a bandit.

There is no chance they go bankrupt but maybe they lose their footing and one of the bigger platforms buys them out. People have short memories but this will likely lead to another class action lawsuit.

 

[Wadtucket]

Damn fam. Try to get your shit transferred over to a new broker ASAP.

I have (had) most of my boomer holdings with boomer brokers, RH was just for yolo that turned out a lil bit better than I thought it could

 

[Cuzcatlan]

Not the biggest fan of Tesla, got to love Musky though.. But yeah just LOL at shorting Tesla last year, that was one way to get buried underground.


On another note - Shorts will get BURIED this year hard now many have caught on how to over ride the big boys.

This is just the beginning I guarantee it and eventually they will lose. The party hasn't started yet.

Dude I keep thinking the same way. They going to have to shut the stock market down!


I'm going into bonds!

 

[Wadtucket]

I'm always down for a bet. What are we betting?

1 GME stonk

 

[Revolver]

Should probably keep this in mind though, this is one of the top comments on Reddit:

"DO NOT TRANSFER YOUR ACCOUNT IF MOVING TO A NEW BROKER. Open a new account on a different broker and fund it. If you transfer your account, it could be up to 15 days before you are even able to sell your transferred securities. RH will lock your account during the transfer. I transferred two weeks ago and still don't have access to the cash in my account and can't transfer it out.

Make sure people know this!

Obviously not financial advice but a warning that you can be locked out of your account and unable to continue trading."

Wow. Glad I use a real broker.

 

[G-19]

Yeah bruvva I'm trying but they are limiting withdrawals and I can't initiate the next one until the first one clears

At this rate it's gonna take me a year to get my cash out of RH

Set up another account right now and transfer your positions over. It’ll take about 5 business days. That’s if you’re that paranoid. There is no way RH just goes bankrupt though.

 

[brackis1]

Picked up some FUSE at 11 which seems like a steal since they have a FUSE2 SPAC and should announce a target.

dang I added a bit more to this^^^^ FUSE at the bell but not a full boatload noahs ark play and now it's up 7% after hrs

 

[Wadtucket]

Set up another account right now and transfer your positions over. It’ll take about 5 business days. That’s if you’re that paranoid. There is no way RH just goes bankrupt though.

It's mostly the cash I'm worried about tbh, I am trying to fund another broker account but it takes ages to clear every transaction

 

[Revolver]

Set up another account right now and transfer your positions over. It’ll take about 5 business days. That’s if you’re that paranoid. There is no way RH just goes bankrupt though.

Even if they don’t go bankrupt why would anyone want to trade through them after what they just did.

 

[Da Speeit]

Anyone know about the security of Binance?