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0 pointsslg5y ago0 comments

Does a broker have a legal obligation to allow you to purchase any stock? I am genuinely asking as IANAL. I can't go into an Apple Store and demand they sell me a Google Pixel. It seems like these places should have every right to choose what services they offer or products they sell.

I wouldn't do business with Robinhood for a number of reasons that go back before this recent spat of issues, I am just not sure preventing purchasing GME is the worst aspect of this.

0 comments

PKop5y ago

Are they entitled to prevent people from buying the shares you hold? If people can't buy them, this obviously causes the price to fall. They are making the price of what you hold fall...they deserve to be sued good and hard for this.

slgOP5y ago

>Are they entitled to prevent people from buying the shares you hold?

So if I am long on a stock that gets delisted from an exchange, can I sue that exchange because they are making it more difficult for people to buy that stock?

mlthoughts20185y ago

How is this related at all to the broker question? Exchanges and brokers are completely different concepts.

1 more reply

betterunix25y ago

"Does a broker have a legal obligation to allow you to purchase any stock?"

No, I have seen all sorts of seemingly arbitrary restrictions since I started investing (back in college), on everything from mutual funds to ETPs to penny stocks.

banachtarski5y ago

Framed another way, can a broker prevent the purchase or sale of stock to bias the asset's movement in a particular direction to benefit themselves or a friendly third party?

Of course not. This is any number of SEC violations

llampx5y ago

What kind of strawman is that? They let you buy GME until yesterday. Stop being intellectually dishonest.

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