imladyboy
Joined 9 years ago
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51
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13
Member since
Jan 29
Recent submissions
Comment · 5 years ago
Comment · 5 years ago
I'm not an expert, but based on this link[0] from another comment section, a similar firm's CEO is saying the their clearing firm stopped the trades due to the costs
> Our clearing firm gave us a call and said we're going to have to stop allowing new opening positions... > there is a two-day settlement between if you buy the stock today, those brokerage firms that you bought that stock on have to fund that trade with the clearing central house called DTC for two whole days... > our clearing firm simply cannot afford the cost to settle those trades. We cannot use customer funds to front that cost due to regulation.
[0] https://finance.yahoo.com/video/heres-why-robinhood-restrict...
Comment · 5 years ago
Exactly, stopping buying prevents people from (potentially) making money by buying the stock low, whereas stopping selling (potentially) prevents people from losing money on the stock they already own, from the platform which they bought it.
I can't imagine the backlash if the completely froze the stocks while the market kept going.
Comment · 5 years ago
My understanding is that is usually done by the stock market itself, not a trading firm. The implications of the two seem pretty different.
Comment · 5 years ago
What would the implications have been if they prevented people who got in at the top from selling?
Comment · 6 years ago
Just look up any of the other footage. https://www.youtube.com/watch?v=gBELXjq_X-M
Comment · 6 years ago
Feel free to
Comment · 8 years ago
I keep seeing people saying "it's too late", but the order page literally says "All customers are eligible for the full $7,500 Federal Tax Credit if they take delivery by the end of the year."
Comment · 8 years ago
And while it may be a bit hidden (After incentives & gas savings -> Gasoline savings) they even allow you to customize it a bit based on Miles/Year and gasoline price.
Comment · 8 years ago
They do account for electricity costs in the "gas savings":
"The average person drives between 10,000 and 15,000 miles and spends between $1,000 and $1,500 on gasoline per year. In comparison, the cost of electricity to power Model 3 over the same distance is up to three times lower. Over the six year average length of car ownership, that's between $4,300 and $6,400 in gasoline savings.
We've assumed a fuel economy of 28 miles per gallon for a comparable gasoline powered sedan, for example, the 2017 BMW 3 series. We've also assumed the national average of $0.13 per kilowatt-hour for electricity and $2.85 per gallon for premium gasoline over the next six years."
Comment · 8 years ago
It also appears they have removed the option for purchasing the "Full Self Driving" functionality.
> Our clearing firm gave us a call and said we're going to have to stop allowing new opening positions... there is a two-day settlement between if you buy the stock today, those brokerage firms that you bought that stock on have to fund that trade with the clearing central house called DTC for two whole days... our clearing firm simply cannot afford the cost to settle those trades. We cannot use customer funds to front that cost due to regulation.
[0] https://finance.yahoo.com/video/heres-why-robinhood-restrict...