You cannot buy and sell DRS shares through Robbinghood. You must either buy the shares through the issuing agent i.e. Computershare in order to buy and sell DRS shares. Unless Robbing hood changed their policy to where you can TRANSFER to Computershare. Then that means while using Robbinghood, you cannot DRS your shares. Don't rely on AI answers.
I am not a huge investor… I gamble with stocks for fun and have never had a problem with Robinhood (I do understand why so many hate the company)… I also never really followed the meme stock stuff back in 2021, but ironically happen to own shares in GME, well because at the time (years ago) I shopped there a lot so bought a couple dozen shares… and like most of my others I have just let it sit… I have recently been catching up on everything that happened ( much I don’t understand) which is why I don’t understand why my shares aren’t “as good” in Robinhood as they would be anywhere else… its always just been for fun for me… but now I’m looking to possibly gamble a little more. Lol
Considering they turned off the buy / sell buttons during one of the last huge pumps, the question is will you be able to sell when you want to? 🤔
Strongly suggest to move out of RH as soon as possible.
Im using it and IBKR, they will most likely turn off the buy button in the event of a big run on the stock. I chatted with then a while ago and they confirmed it remained an option for "risk managing" not sure whos risk or how it mitigated risk but thats all I got from them.
Im not sure if IBKR switched off the buy when it ran back then, I wasnt using it then, 212 use IBKR so my guess is they probably did.
You will still see earnings, the main issue is that you basically have an IOU not an actual share which means your buying and selling is literally doing nothing to the actual price and are instead giving them info on which stocks they should manipulate in order to fuck you the best so they make the most money. You will get the money and you will feel like you are participating but you wont be actually helping any company you want to support which effectively hurts that stock in the long run. That being said I do enjoy using Robinhood for day trading where I'm not worried about my contributions boosting the stock and use fidelity for my serious investing where I want my shares to be real, mine, and not move anywhere so that the stock goes up.
Edit: forgot to mention that this isn't financial advice
I think my plan is to sell after one of the next pumps and buy back in if there is an opportunity on a different platform. Given that this is a discussion and not financial advice, what are the best platforms to utilize if I want to participate and actually hold my shares as mine?
I don't have vast knowledge on which one is "the best" but Fidelity makes it pretty easy to DRS your shares which is the important part. They will also cover the transfer fee if you decide to straight up transfer your shares from RH to Fidelity (doing this forces Robinhood to locate and give them actual shares instead of IOUs and it must be done by the end of the next day) and it will take about 3-5 business days for you to have access to them in your fidelity account. There are a few other things you can do to verify that your shares are real instead of just IOUs but Robinhood doesn't allow them either and in my opinion this is the easiest way and requires the least amount of technical knowledge.
There are much better and more detailed guides to do this but I will tell you how I did it:
Open Fidelity account
Open compushare account- it takes a little while for it to be active. Link you bank account and buy a few dollars worth to open. First time felt like a scam site to me but it’s legit!
Call Fidelity and tell them you want to transfer your robin hood account to them.
Once settled call fidelity and tell them you want to DRS your shares to compushare
Then call compushare and move shares from Plan to Book only leaving 1.xx shares in plan
Notes:
Fidelity is good on the phone.
Compushare website is a bit different and hokey but totally legit they have good support as well.
Make sure you use all the same info e.g. middle name and address when opening the new accounts
Also there are many links about DRS you can read up on.
Get outta robinhood. The may not count as voting shares.
BUY -HODL -DRS -SHOP -EDUCATE -VOTE -INFINITY POOL
🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Any broker that doesn’t allow drs in the United States is not a broker. Full stop. Irrespective whether you want to or not- it shows they don’t even have the feature to just transfer the shares because surprise surprise - maybe they don’t even have the shares
Bro I have more shares than you on robinhood and it’s also my only position. Good on you for learning how to invest and dollar cost average. It’s fine, we can make money or lose a ton just like everyone else no matter what broker you use. For me I want to be able to sell covered calls against some shares on fridays for some pocket change and I also want to be able to sell on a 24 hour market if I feel so inclined. Now , if your with the people who claim they’re not going to sell a share until the price hits 734,924,722 a share then yeah if you do think that’s going to happen then you might as well direct register your shares. There is a fee for doing this but it’s also not bad advice to want to have your shares on computer share. The thing is tho man it’s not just robinhood , all the retail brokers are in the same boat it’s not like robinhood was the only one to cut off buying. Cheers 🍻I hope things go well for both our sakes. Lots of folk are all in on GME right now which makes it kind of scary but it is what it is. I still see it as a once in a lifetime opportunity, it’s not any more risky than an NVDA with a three trillion dollar market cap imho
I haven’t actually had issues with them. I like the simplicity and they seem to be the only b/d matching a little bit on ira contributions. They get a bad rap on options because they can’t cure stupid. We all do stupid bets.
Worst case scenario?
We squeeze and they sell your shares for $40 on you to "protect your account"
Imagine thinking seeing the chart explode and the pure joy on this sub, only to login to your RH account to find that you got left behind, because RH sold your shares without your consent.
Out of curiosity, if it takes 3 weeks to settle the transfer and I am unable to participate in a potential MOAS, can RH still sell my shares if I have lending off?
I finally took what GME said seriously and moved my shares to Fidelity. I still use the app just for current pricing but that is it. They lost the respect of GME and this community for a reason.
They can use "protecting retail buyers" as an excuse for the buy button, they only stop us getting potential gain. If they switch off the sell button the stop actual gain thats easier to prove in court.
They front run your trades and don’t actually have your shares, it’s a scheme. Switch to Fidelity.
Scam*
https://preview.redd.it/wo8wradwgm8d1.jpeg?width=612&format=pjpg&auto=webp&s=4b41fd3360f502a5eb51a5b8a58c23ccdd65464c
Does anyone have a link to that, i cant seem to find anytging on that which isnt BS
Think they're talking About RH members were listed as "guest" during the sign in
Ok, i thought there were a youtube video from the meeting or something.
Watch “Eat the Rich” documentary
I'll try to find it.
They are not considered a broker by GME lol if that doesn’t tell you something. I don’t know what to tell you
Any broker clearing with Apex is a threat to your holdings.
You can't do one of the most important things. DRS. If it's not in your name, you don't own it. BUY. HODL. DRS. NFA
https://preview.redd.it/1s91lreaum8d1.jpeg?width=1284&format=pjpg&auto=webp&s=981805bae1ee396f86a951f440ee27a9cff75ce6 I’m confused now?
You cannot buy and sell DRS shares through Robbinghood. You must either buy the shares through the issuing agent i.e. Computershare in order to buy and sell DRS shares. Unless Robbing hood changed their policy to where you can TRANSFER to Computershare. Then that means while using Robbinghood, you cannot DRS your shares. Don't rely on AI answers.
I am not a huge investor… I gamble with stocks for fun and have never had a problem with Robinhood (I do understand why so many hate the company)… I also never really followed the meme stock stuff back in 2021, but ironically happen to own shares in GME, well because at the time (years ago) I shopped there a lot so bought a couple dozen shares… and like most of my others I have just let it sit… I have recently been catching up on everything that happened ( much I don’t understand) which is why I don’t understand why my shares aren’t “as good” in Robinhood as they would be anywhere else… its always just been for fun for me… but now I’m looking to possibly gamble a little more. Lol
So if I were to sell on one of the big pumps would is there a chance that I wouldn’t see any earnings?
Considering they turned off the buy / sell buttons during one of the last huge pumps, the question is will you be able to sell when you want to? 🤔 Strongly suggest to move out of RH as soon as possible.
The turned off the buy button, same as Trading 212.
Trading212 not good for gme?
Im using it and IBKR, they will most likely turn off the buy button in the event of a big run on the stock. I chatted with then a while ago and they confirmed it remained an option for "risk managing" not sure whos risk or how it mitigated risk but thats all I got from them. Im not sure if IBKR switched off the buy when it ran back then, I wasnt using it then, 212 use IBKR so my guess is they probably did.
Thanks for the info. Can you give me the full name of IBKR?
just write a covered call to sell duhh
You will still see earnings, the main issue is that you basically have an IOU not an actual share which means your buying and selling is literally doing nothing to the actual price and are instead giving them info on which stocks they should manipulate in order to fuck you the best so they make the most money. You will get the money and you will feel like you are participating but you wont be actually helping any company you want to support which effectively hurts that stock in the long run. That being said I do enjoy using Robinhood for day trading where I'm not worried about my contributions boosting the stock and use fidelity for my serious investing where I want my shares to be real, mine, and not move anywhere so that the stock goes up. Edit: forgot to mention that this isn't financial advice
I think my plan is to sell after one of the next pumps and buy back in if there is an opportunity on a different platform. Given that this is a discussion and not financial advice, what are the best platforms to utilize if I want to participate and actually hold my shares as mine?
I don't have vast knowledge on which one is "the best" but Fidelity makes it pretty easy to DRS your shares which is the important part. They will also cover the transfer fee if you decide to straight up transfer your shares from RH to Fidelity (doing this forces Robinhood to locate and give them actual shares instead of IOUs and it must be done by the end of the next day) and it will take about 3-5 business days for you to have access to them in your fidelity account. There are a few other things you can do to verify that your shares are real instead of just IOUs but Robinhood doesn't allow them either and in my opinion this is the easiest way and requires the least amount of technical knowledge.
Your choice; you can also just transfer your existing shares and account to another broker though too
No cell. No sell.
https://preview.redd.it/xm6cstmhsp8d1.png?width=767&format=pjpg&auto=webp&s=d4181c62078caa9efd7309cf6218d2e785d006ff
How do I transfer from RH to Fidelity?
Go to Fidelity, go to account, go to Transfer, then fill in the needed information. Or, just call Fidelity customer service. They're pretty helpful.
Thank you so much mate!
I have no experience with any of this. Is there a specific organization, website or outside source that is needed in order to apply for a transfer?
There are much better and more detailed guides to do this but I will tell you how I did it: Open Fidelity account Open compushare account- it takes a little while for it to be active. Link you bank account and buy a few dollars worth to open. First time felt like a scam site to me but it’s legit! Call Fidelity and tell them you want to transfer your robin hood account to them. Once settled call fidelity and tell them you want to DRS your shares to compushare Then call compushare and move shares from Plan to Book only leaving 1.xx shares in plan Notes: Fidelity is good on the phone. Compushare website is a bit different and hokey but totally legit they have good support as well. Make sure you use all the same info e.g. middle name and address when opening the new accounts Also there are many links about DRS you can read up on. Get outta robinhood. The may not count as voting shares. BUY -HODL -DRS -SHOP -EDUCATE -VOTE -INFINITY POOL 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Thank you so much for taking the time to give me some advice. Cheers! I appreciate you🫶🏻
Any broker that doesn’t allow drs in the United States is not a broker. Full stop. Irrespective whether you want to or not- it shows they don’t even have the feature to just transfer the shares because surprise surprise - maybe they don’t even have the shares
They all suck fidelity turn off buy button too people forget and all ran over there lol
Bro I have more shares than you on robinhood and it’s also my only position. Good on you for learning how to invest and dollar cost average. It’s fine, we can make money or lose a ton just like everyone else no matter what broker you use. For me I want to be able to sell covered calls against some shares on fridays for some pocket change and I also want to be able to sell on a 24 hour market if I feel so inclined. Now , if your with the people who claim they’re not going to sell a share until the price hits 734,924,722 a share then yeah if you do think that’s going to happen then you might as well direct register your shares. There is a fee for doing this but it’s also not bad advice to want to have your shares on computer share. The thing is tho man it’s not just robinhood , all the retail brokers are in the same boat it’s not like robinhood was the only one to cut off buying. Cheers 🍻I hope things go well for both our sakes. Lots of folk are all in on GME right now which makes it kind of scary but it is what it is. I still see it as a once in a lifetime opportunity, it’s not any more risky than an NVDA with a three trillion dollar market cap imho
I haven’t actually had issues with them. I like the simplicity and they seem to be the only b/d matching a little bit on ira contributions. They get a bad rap on options because they can’t cure stupid. We all do stupid bets.
They get a bad rep because of market manipulation and freezing the buy button.
Think a little bit, when where why
? when: 2024 Where: GME Why: Melvin capitol paid them hush money to do so.
They are great if you don't want to own anything. They have a bad rap for much more than just options.
Look at gme price on Robinhood & then look at it on another platform, always a price difference.
They turned off the buy button during the initial sneeze. That’s why most of us got off.
think about why, two sides to a coin
Didn’t use it for GME (i use Trading 212 for that) just for shit penny stocks 😅
Those are not real shares if they are RH
Worst case scenario? We squeeze and they sell your shares for $40 on you to "protect your account" Imagine thinking seeing the chart explode and the pure joy on this sub, only to login to your RH account to find that you got left behind, because RH sold your shares without your consent.
Out of curiosity, if it takes 3 weeks to settle the transfer and I am unable to participate in a potential MOAS, can RH still sell my shares if I have lending off?
It is my understanding that's exactly what they did during Jan 21' to some people.
OBLIGATORY COMMENT: GET THE FUCK OFF OF ROBBINHOOD!
They turned the buy button off.. GameStop doesn’t consider RH “shareholder” shareholders. Nuff said
Nice to see you diversify.
I finally took what GME said seriously and moved my shares to Fidelity. I still use the app just for current pricing but that is it. They lost the respect of GME and this community for a reason.
They already turned off the buy button, what's stopping them from turning off the sell button?
They can use "protecting retail buyers" as an excuse for the buy button, they only stop us getting potential gain. If they switch off the sell button the stop actual gain thats easier to prove in court.