This guy making claims he didn’t know why TDAmeritrade was liquidating his portfolio full of crappy pennystocks claiming they were worth tens of millions more in value. He even mentioned something about his account was involved in naked shorting somehow. Complained other brokerages would not accept transfer of his pennystocks (shocker!) When TDAmeritrade was giving him time to close his accounts. Also posts here on IHUB (not so shocking) ———
TDAmeritrade can liquidate your accounts for various reasons. On margin accounts in particular. he claimed he had over $2 million in shitty pennystocks that was about 80% of his stock portfolio - his “retirement” as he called it. Although pennystocks are not usually marginable.
If a cash account was he was naked shorting his account himself and didn’t realize it. Day trading his pennystocks and buying and selling before his funds were settled. Not having enough cash to cover the trades? (Liquidation violations) ——- Hired an attorney (Jonathon Sack Esq. - Sack and Sack in New York) to get some answers. I suspect TDAmeritrade told him why but he just didn’t understand it.
Actually thinking his shorty pennystocks dropped in price because TDAmeritrade liquidated his stocks?
I’ll be interested to see if the lawyer gets any answers.
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