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start_select t1_j5f50ae wrote

Reply to comment by menellinde in What High Tech and Media Layoffs Say About the Economy by PleaseThinkFirst

TBF Robinhood takes all the blame when Fidelity, Schwab, and just about every other broker also halted trading on GameStop.

They were overextending themselves, but they weren’t the only ones doing it. And trading is halted on out of control stocks all the time. There actually wasn’t that much novelty to the situation besides Reddit brigades thinking they were taking on hedge funds.

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Revolutionary_Lie539 t1_j5f684j wrote

Wrong. Fidelity did not cancel their buy button.. Im a client.

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start_select t1_j5fk6le wrote

Fidelity didnt completely restrict trades on GME, but they did increase margin restrictions on it. Almost every brokerage reacted in one way or another.

Iirc Robinhood, Webull, and IBKR were the main ones that straight up halted all trades. Schwab and TD Ameritrade were restricting volume and margin requirements.

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