I thought you just needed 25k on account and then you did not have to worry about the Pattern Day Trader rule. Of course, this is a newbies board and many new players in the market will have less than 25k, but... for old folks like us, we should be OK. Not that I day trade much. But if I followed a trading strategy to get in and then get out quickly--even more quickly if the trade does not immediately move as planned--then I would be in that position. (In practice, I am more of the chase-and-become-a-bag-holder-then-DCA-for-a-year-while-waiting-for-the-next-pump kind of trader.)
However, while I don't think the PDT rules apply to me, I act as if they do, because I have no business trading that frequently, which is why being told something is up 500% from the day before does not do me much good, as I am not looking to get in for an hour to squeeze another 10% to 20% out of it.
If I had jumped on a board this morning to say MVNT was up 100% and some pump-chaser logged into their account to buy, they might have bailed with a 50% loss or more. Hmm... then again, they could have weathered the storm, loaded some dips and sold for a nice gain of up to 100% in less than a day. It looks like I sold those shares and I could have bought them back much cheaper and then sold them again at an even higher price--darn it! Not to mention I had those shares in a Roth, so no worries about wash sales. (Double darn it!)
I should note that you cannot trade MVNT on Fidelity (I tried, to lower my average); it does not let you trade as many stinky pinkies as E*trade does. Indeed for me it's hard to find a ticker E*trade will restrict, but sounds like there are some now. That would be the Morgan Stanley influence. A couple years ago they let me buy into BBUCQ; you can't get much more "we'll let you trade anything" than that, right, Gare?
