Ahh, so if moass is allowed to occur without govt intervention we'll be going through brokers. Hmm. So I think it's best to have majority of shares in DRS so they can't be auto sold by broker fuckery (which they can do legally on margin accounts). Then have a few shares in diff brokers in case they don't pull some shit.
I continue to think govt will interfere in a moass event. But on the other hand we know the plan involves bankrupting these corrupt hedge funds. So idk.
Should add.... smaller brokerages? Not sure there. Already seeing some shady shit with BBBYQ across the pond recently....so there is that. If you are in one or all of the big 3....my feeling is you will be fine.
Regarding auto sell...margin account they can, but cash account? Don't really see that happening for a number of reasons. 1.)Have not seen any wording in the TOS of my brokerages for a cash account they can or would. 2.)They would have lawsuits up the ass if they pulled that. 3.) I believe the market is not going away after this...just major reform. So if they pulled that shit, you would have the public as a whole lose all confidence in putting in any money in there again. 4.)Again, this would hose MOASS. There is still many investors who have no clue of DRS, won't DRS for whatever reason, or simply can't for various reasons.
I am not against DRS....have 45% in there myself and add a few on a regular basis. But I plan on selling during this believe the rules are going to have to be followed or MOASS really won't happen and I believe it will.
My set up is similar....got shares spread across 3 brokers and one CS for insurance/long term portfolio...
That's true, margin account they can. However, robbinghood did turn off the buy button during the mini squeeze. They do not follow laws is what it comes down to. They can change their ToS at any point as well.
All I can say is, no one knows what's going to happen. Ryan did give us the hint to DRS our shares. But that may have been to put pressure on hedge funds shorting GME.
Ahh, so if moass is allowed to occur without govt intervention we'll be going through brokers. Hmm. So I think it's best to have majority of shares in DRS so they can't be auto sold by broker fuckery (which they can do legally on margin accounts). Then have a few shares in diff brokers in case they don't pull some shit.
I continue to think govt will interfere in a moass event. But on the other hand we know the plan involves bankrupting these corrupt hedge funds. So idk.
Should add.... smaller brokerages? Not sure there. Already seeing some shady shit with BBBYQ across the pond recently....so there is that. If you are in one or all of the big 3....my feeling is you will be fine.
Regarding auto sell...margin account they can, but cash account? Don't really see that happening for a number of reasons. 1.)Have not seen any wording in the TOS of my brokerages for a cash account they can or would. 2.)They would have lawsuits up the ass if they pulled that. 3.) I believe the market is not going away after this...just major reform. So if they pulled that shit, you would have the public as a whole lose all confidence in putting in any money in there again. 4.)Again, this would hose MOASS. There is still many investors who have no clue of DRS, won't DRS for whatever reason, or simply can't for various reasons.
I am not against DRS....have 45% in there myself and add a few on a regular basis. But I plan on selling during this believe the rules are going to have to be followed or MOASS really won't happen and I believe it will.
My set up is similar....got shares spread across 3 brokers and one CS for insurance/long term portfolio...
That's true, margin account they can. However, robbinghood did turn off the buy button during the mini squeeze. They do not follow laws is what it comes down to. They can change their ToS at any point as well.
Check out some comments here:
https://www.reddit.com/r/Superstonk/comments/wo5atc/can_a_broker_sell_your_shares_without_your/
https://www.reddit.com/r/Superstonk/comments/tyblft/question_about_brokers_that_can_sell_your_shares/
All I can say is, no one knows what's going to happen. Ryan did give us the hint to DRS our shares. But that may have been to put pressure on hedge funds shorting GME.
'no one knows what's going to happen'
100%.
EOD just have to do what makes you comfy....