[Michael I]

barely do stocks but just made nice money on gamestop , what is your next prediction

[Winning]

barely do stocks but just made nice money on gamestop

The Gamstop thing is crazy! I didn't take any postions my self... I could have bought it at $80 after it ripped to $150, but thought it was over.. Then then next day it rips to $300... I personally know people that have made over $10,000 profit on Gamestop in a 24 hour period... There is a daytrader I follow on youtube that livestreams his trade and he profited +$200K on gamestop. https://www.youtube.com/watch?v=TyrmhoO-01M

Looks like the trading platforms are trying to prevent this from happening

Investing app Robinhood blocked access to GameStop and other high-flying names on Thursday as trading surged among retail users.

The move comes after GameStop (GME) has shot higher over the past week, inspiring a short squeeze. The action -- driven by retail traders often using options -- has spread to other names like BlackBerry (BB), AMC Entertainment Holdings (AMC), and Bed, Bath & Beyond (BBBY). Several of those stocks were falling in premarket trading after enormous run-ups in the past few days.

Users began reporting that they couldn't trade GameStop and other stocks on Thursday. They got a message that "This stock is not supported on Robinhood."

Robinhood told Barron's on Wednesday that it was raising margin requirements for investors in GameStop and AMC to 100%. The company did not respond to a request for comment on why they were blocking certain stocks. Other brokers were also limiting access to certain products.

As of midday on Wednesday, Interactive Brokers (IBKR) put AMC, BlackBerry, Express (EXPR), GameStop, and Koss (KOSS) option trading into liquidation "due to the extraordinary volatility in the markets," the company said.

"In addition, long stock positions will require 100% margin and short stock positions will require 300% margin until further notice," the company said. "We do not believe this situation will subside until the exchanges and regulators halt or put certain symbols into liquidation only. We will continue to monitor market conditions and may add or remove symbols as may be warranted."

TD Ameritrade (AMTD) also placed restrictions on some transactions in GameStop and other securities, the broker said on Wednesday. A spokeswoman didn't specify exactly what the company was doing but said it could include "actions like increasing margin requirements, or limiting certain types of transactions, like short sales and those that may involve unlimited risk. It is not uncommon for us to make such decisions, which we consider on an individual basis, in the interest of mitigating risk."

"We have been adjusting our requirements for several days as we continued to see trends indicating unusual volume in an unprecedented market environment, which appear to be divorced from traditional market fundamentals," the company said. "We have made what we believe to be prudent and appropriate decisions to place some limits on certain transactions for certain securities."

And fast-growing privately held broker Webull said it was limiting some activities, too.

"Webull has been very successful in limiting our intraday risk during the course of these events by not allowing any short positions in these volatile names since as early as Friday of last week," CEO Anthony Denier told Barron's. "Trading has been open for these stocks and uninterrupted amidst this volatility and the only new restrictions we have placed is not allowing market orders opening of new multi-leg option strategy positions."

Robinhood has grown faster than the rest of the industry over the past year, attracting younger investors. Last year, it said it had more than 13 million account-holders, adding 3 million from January until May. The privately held broker was sued last month by a Massachusetts regulator on allegations that it encourages risky investing among its clientele. The company denied those allegations and said it does not recommend stocks.

On Wednesday night, Robinhood sent a notice to users directing them to educational products in light of the recent volatility.

Write to Avi Salzman at avi.salzman@barrons.com

(END) Dow Jones Newswires

January 28, 2021 09:34 ET (14:34 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

[Winning]

Jesus Christ BB down to $14.23!! This is crazy! Should of closed my postions at the $28 .... LOL

But on a postive note,, I bought it so cheap I am still profitable.