As the title says, I’m unable to buy more stocks of OEG (Orbital Energy Group). This started since yesterday. I thought it was a glitch but today the issue remains. Could this be looked into please and the purchases of stocks unblocked/removed.
Thank you.
By the way, the ticker is now OIG.
Out of curiosity, the share price history clearly looks a bit orbital, like a rocket gone up to space and returned. Do you think the drop is an overreaction?
The drop wasn’t an overreaction. The stock went a bit too high in my opinion, but that was around when there was a market wide pump. What caused the stock to come a bit further down than anticipated was the overall market conditions around the latest Fed monetary policies changes (QT) and the increase in debt by OIG through multiple acquisitions last year.
Could someone from T212 team please look into this? @Tony.V @Bogi.H @B.E @KrisG etc
To be honest, this cap/limitation feature shouldn’t even exist to begin with.
We did consider your suggestion but won’t be further increasing the limit for the time being.
Is there a reason why some stocks are limited - because IB consider this a meme stock, or because it causes increased work on yourselves as a broker when the regulators halt activity - just looking to understand in general the rationale.
@KrisG thanks for getting back to me, but i believe you forgot to mention the reason why and how is this consideration decided by T212.
Since you said that T212 “considered my suggestion” i anticipate that this decision was taken by T212 alone and not IB. This is quite troublesome as in this case T212 is literally deciding how i should or should not invest my money and when. Not pleased, and sounds like a similar issue to what happened with Robinwood and GME in the past.
These instruments tend to have a small market cap and lower trading volume, so excessive volume generated from our platform might lead to suspension from the liquidity providers of our intermediary.
The measures are introduced by our Risk department.
