Jurgis Posted January 29, 2021 Share Posted January 29, 2021 RH expanding limitations on share and option purchase limits: https://robinhood.com/us/en/support/articles/changes-due-to-recent-market-volatility/ 50 names on their including GM and SBUX. LOLMFAO. You can buy 1 f*ing share of GM per day. ROTFLMFAO This is epic RobinHood please IPO soon. I want to buy 1 share of your stonk. I also want to have your babies. ::) Link to comment Share on other sites More sharing options...
compoundinglife Posted January 29, 2021 Share Posted January 29, 2021 RH expanding limitations on share and option purchase limits: https://robinhood.com/us/en/support/articles/changes-due-to-recent-market-volatility/ 50 names on their including GM and SBUX. LOLMFAO. You can buy 1 f*ing share of GM per day. ROTFLMFAO This is epic RobinHood please IPO soon. I want to buy 1 share of your stonk. I also want to have your babies. ::) Democratizing finance one share at a time. Link to comment Share on other sites More sharing options...
Jurgis Posted January 29, 2021 Share Posted January 29, 2021 RH expanding limitations on share and option purchase limits: https://robinhood.com/us/en/support/articles/changes-due-to-recent-market-volatility/ 50 names on their including GM and SBUX. LOLMFAO. You can buy 1 f*ing share of GM per day. ROTFLMFAO This is epic RobinHood please IPO soon. I want to buy 1 share of your stonk. I also want to have your babies. ::) Democratizing finance one share at a time. Do they (still) allow to buy partial shares? What if I wanted to buy just 0.1 of NOK share? Asking for a friend. ::) Link to comment Share on other sites More sharing options...
KCLarkin Posted January 29, 2021 Share Posted January 29, 2021 Yeah, something is stinky there. Another interesting data point. Trade velocity relative to account size at RH vs other brokers: https://pbs.twimg.com/media/Es5lsCXXUAINfx-.png from: I would like to see what’s in the closets....this doesn’t make sense unless you’re severely impaired no? Looking like the GME phenomenon isn't really WSB vs WS. More like RH running through the dynamite factory with a lit match... Link to comment Share on other sites More sharing options...
Jurgis Posted January 29, 2021 Share Posted January 29, 2021 Hold on. I am totally WSB stupid. I finally realized why RH is restricting GM shares. Cause clearly some WSBers mistype their GME orders. Makes total sense now. Carry on. Nothing to see here. Link to comment Share on other sites More sharing options...
LC Posted January 29, 2021 Share Posted January 29, 2021 Apparently one can buy deep ITM options and immediately exercise to get around the purchase limits. Link to comment Share on other sites More sharing options...
Castanza Posted January 29, 2021 Share Posted January 29, 2021 Apparently one can buy deep ITM options and immediately exercise to get around the purchase limits. My God, the lengths these individuals are going through just to buy GME is insane and admirable at the same time. Link to comment Share on other sites More sharing options...
LC Posted January 29, 2021 Share Posted January 29, 2021 I threw a G in out of solidarity. How the hell can you not love the WSB meme team? Link to comment Share on other sites More sharing options...
aws Posted January 29, 2021 Share Posted January 29, 2021 Why are the restrictions on shares so much worse than on options? 1 share vs. 10x 100 share options. I thought the issue they were facing was they needed to post collateral on options trades immediately, as in before the settlement where they get the money from the customers, and that the increased activity and volatility made that collateral amount much larger. That I can at least understand, but what's with the restriction on share purchases. I could see them requiring settled funds, but an overall limit makes no sense to me. Link to comment Share on other sites More sharing options...
RadMan24 Posted January 29, 2021 Share Posted January 29, 2021 Apparently one can buy deep ITM options and immediately exercise to get around the purchase limits. My God, the lengths these individuals are going through just to buy GME is insane and admirable at the same time. "Life finds a way" Link to comment Share on other sites More sharing options...
compoundinglife Posted January 29, 2021 Share Posted January 29, 2021 Why are the restrictions on shares so much worse than on options? 1 share vs. 10x 100 share options. I thought the issue they were facing was they needed to post collateral on options trades immediately, as in before the settlement where they get the money from the customers, and that the increased activity and volatility made that collateral amount much larger. That I can at least understand, but what's with the restriction on share purchases. I could see them requiring settled funds, but an overall limit makes no sense to me. Doesn't cash from options transactions settle faster than stock transactions? Link to comment Share on other sites More sharing options...
rb Posted January 29, 2021 Share Posted January 29, 2021 RH expanding limitations on share and option purchase limits: https://robinhood.com/us/en/support/articles/changes-due-to-recent-market-volatility/ 50 names on their including GM and SBUX. Am I reading this correctly? RH investors are only allowed to buy 1 share of Starbucks? Even after RH raised $1B plus drew down their credit lines. This is insane. You're not reading it correctly. That's the aggregate position limit. If RH investors own more than one share of stock they can't buy more. It's a trading ban. I honestly don't understand what's difference in the names where you can have a position limit of 1 or 5. Did they think a lot when deciding whether it should be 3, 4, or 5? What determines the thresholds? Were there decks? ;D With the capital raise and lines drawdown it definitely looks like there's more going on at RH than what they've been disclosing. I think it would be immensely ironic if these morons end up bankrupting heir own broker with their shit. Link to comment Share on other sites More sharing options...
shamelesscloner Posted January 30, 2021 Share Posted January 30, 2021 If you were one of these short funds, wouldn't you be doing everything in your power to convince GME management to issue more equity? And wouldn't that be in the best interest of GameStop the business? Link to comment Share on other sites More sharing options...
aws Posted January 30, 2021 Share Posted January 30, 2021 They had a $100 million ATM offering posted back in December. Surely they must have finished that already, but probably did so at like $18 per share instead of $400. I didn't notice any type of update about it being completed or anything though. Link to comment Share on other sites More sharing options...
hasilp89 Posted January 30, 2021 Share Posted January 30, 2021 If you were one of these short funds, wouldn't you be doing everything in your power to convince GME management to issue more equity? And wouldn't that be in the best interest of GameStop the business? Yes technically more float could reduce price if demand stayed the same. Question is if wsb would rally to buy and or if shorts would want to cover at the issue price. Yes for the business it would be an easy way to raise and sit on cash. Anyone know a clean (ish) short interest number? Until that goes down (shorts start covering) doesn’t this keep going on? Link to comment Share on other sites More sharing options...
RadMan24 Posted January 30, 2021 Share Posted January 30, 2021 gamestop would hit $1k overnight if they said, "We're raising $1 billion to open the first retail concept to play video games on the moon." Link to comment Share on other sites More sharing options...
Jurgis Posted January 30, 2021 Share Posted January 30, 2021 gamestop would hit $1k overnight if they said, "We're raising $1 billion to open the first retail concept to play video games on the moon." Especially since both Chamath and Elon would be like #games #moon ! Link to comment Share on other sites More sharing options...
shamelesscloner Posted January 30, 2021 Share Posted January 30, 2021 The All-In Pod did a deep dive on GME today: Link to comment Share on other sites More sharing options...
adesigar Posted January 30, 2021 Share Posted January 30, 2021 I threw a G in out of solidarity. How the hell can you not love the WSB meme team? I am also supporting the WSB crowd. I might lose a couple of Gs but I hope something good comes out of this. As the WSB crowd likes to say . Link to comment Share on other sites More sharing options...
shamelesscloner Posted January 30, 2021 Share Posted January 30, 2021 I'm planning to open a solidarity position on Monday Link to comment Share on other sites More sharing options...
Viking Posted January 30, 2021 Share Posted January 30, 2021 They had a $100 million ATM offering posted back in December. Surely they must have finished that already, but probably did so at like $18 per share instead of $400. I didn't notice any type of update about it being completed or anything though. If you know your share price is 20x overvalued why would you not keep issuing more shares. Every week. In significant volume. Who cares if you crater the price? It will be coming down anyways. This is also consistent with maximizing shareholder value. Especially if you can take the proceeds and buy a profitable business that might allow you to keep the company in business long term. Link to comment Share on other sites More sharing options...
LC Posted January 30, 2021 Share Posted January 30, 2021 That’s what I don’t understand. If I’m GME I’m on the phone with Melvin et al offering to clear their short position for a 50% discount to market. Link to comment Share on other sites More sharing options...
Viking Posted January 30, 2021 Share Posted January 30, 2021 The question i have is what keeps the extreme price elevated? I get the spike higher. I don’t understand how the price says elevated, like Tesla, apparently permanently :-) How long do people expect prices to stay elevated? And is the phenomenon just getting started? Will it keep morphing to more and more stocks? PS: i am not asking because i am looking to jump in :-) i will leave that up to those smart (or dumb) enough to... Rather, i am just trying to get a handle on this phenomenon. Is it here for a month? Or possible a year or longer :-) Link to comment Share on other sites More sharing options...
Jurgis Posted January 30, 2021 Share Posted January 30, 2021 I threw a G in out of solidarity. How the hell can you not love the WSB meme team? I am also supporting the WSB crowd. I might lose a couple of Gs but I hope something good comes out of this. As the WSB crowd likes to say . Ah shucks, you guys are making me bawl :'( in sympathy... #games #moon It's a bit cold to moon people, but solidarity rulez! Link to comment Share on other sites More sharing options...
adesigar Posted January 30, 2021 Share Posted January 30, 2021 www.nbcdfw.com/news/national-international/north-texas-investor-uses-gamestop-gains-help-sick-children/ Link to comment Share on other sites More sharing options...
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