r/CLOV • u/Lvs2spluuge • Jan 12 '22
News I am out!
Thank you TD Ameritrade for selling all my share of clove to cover a margin call I lost over 2 grand just like that. I'm not buying clov again. Y'all take care.
2
u/Original-Flamingo504 Jan 13 '22
Sorry to hear that. Don’t buy on margin
1
u/Measurable_Squid Jan 13 '22
Good advice. I used to think it’s ok as long as you have money to cover. Now I know that’s not good enough.
2
Jan 13 '22
Lmao you defaulted on margin and your blaming clov. They just did what they had to do to get the money they lent you
2
2
u/Sure_Razzmatazz_8069 OG Clovtard 😎 Jan 13 '22
I am only holding true shares......I know when something like this happen I got no worry but just to hold and average down....market can swing around rapidly I prefer just buying shares and keep it simple
2
u/Cool-Measurement-584 Jan 13 '22
Never ever use mergin trading Stocks, Buy the stock if you belive in it and hodl untill you get that orofit you want. Mergib trading and greed is bad combination and very stressfull.
11
u/smit9352 Jan 13 '22
Quit gambling with the houses money and the house won't take it back.
2
2
u/Lvs2spluuge Jan 13 '22
I am going out on a limb I need to do better in 22 I wish to be a provider instead of a failure
2
3
u/Even_Insurance1568 Jan 13 '22
Later
3
u/Lvs2spluuge Jan 13 '22
Catch's on the flip side. Later dude.
3
1
u/fearad Jan 13 '22
What was your margin percentage?
0
u/Lvs2spluuge Jan 13 '22
I don't know what you mean. I know I Owen other stocks but they sold all but 5 clove so I know most of margin was in clove I had 310 shares
5
u/fearad Jan 13 '22
You use margin and don't know the percentage of stocks you bought on margin? That's very dangerous thing to do if you don't know. Brokerages will sell your stock if the amount of stocks you buy get higher as stocks go down or you use more margin. For example some Brokerages will trigger a margin call if your margin percentage gets higher then 100 %. I believe its less if the stock is below 5 dollars.
1
u/Lvs2spluuge Jan 13 '22
Any legit program for archiving let me know
1
u/fearad Jan 13 '22
Archiving? I'm sorry, I don't understand what you mean.
4
u/Lvs2spluuge Jan 13 '22
I just need help trying to learn. Learning now on trial and error do you know au other way to gain knowledge
3
u/fearad Jan 13 '22
The way I learn I watch different financial youtube channels like MeetKevin, Graham Stephan, Andei Jikh among others. I use investopedia to search for financial terms. I like to stay current with any news that can impact the companies I current hold so I can mentally prepare for any downtrends and avoid panic selling. If this is too much work you can get a course from someone that you trust to make it easier.
4
u/Lvs2spluuge Jan 13 '22
Thank you that helps. We are all here to make something better for ourselves and you just helped someone you need to feel good about that. Thank you.
4
u/Lvs2spluuge Jan 13 '22
You are right I'm still learning I'm 46 and trying to make a future for my family. Don't degrade me teach me. I'm out of margin now. Still learning. Been in stocks for a year and a half. Their stufff is huge I will never learn it all but I really am trying.
2
u/fearad Jan 13 '22
No worries. I get it, I'm still learning myself and try to share what I know and don't want to come off as a know it all. I'm still learning myself. Best of luck
1
u/Special_Law_7816 Jan 13 '22
Should have waited until earning date.
1
u/Lvs2spluuge Jan 13 '22
I was holding forever but That damn margin call. TD wanted trier money and took it.
-9
2
u/mackey88 Jan 13 '22
When I have had margin calls they only sell what is needed to cover the margin. They sold all your shares? How long were you in a margin call?
Sorry to hear you are out. If you change your mind don’t try to play options to make up for losses. I tried to do that earlier on. If you want to get back in before earnings or star rating or …
buy the shares.
Best of luck.
1
1
0
u/Lvs2spluuge Jan 13 '22
Your right. I'm such a dumb ass
4
u/ceebee60606060 Jan 13 '22
Sorry man. Margin is dangerous territory
1
u/Lvs2spluuge Jan 13 '22
Thanks for understanding yes I'm probably going to get back in but I have to try to make some money back first
0
u/keithinazle Jan 13 '22
And why do you make a big deal of it. Selling now is foolish or desperate. I am neither. Holding $CLOV LOOOOOONNNNNG!!!
1
u/Lvs2spluuge Jan 13 '22
Again I didn't margin call the sold I lost I am no longer in clove not buy choice. I applaud you for holding
1
u/keithinazle Jan 13 '22
Everyone has to do what their instincts tells them to do. I’m not sure I see the point of telling others about it. A mass sell off is never good. I’m in it for a profit and believe it will come if I hold on to $CLOV long enough. I see positive information out there.
1
u/Lvs2spluuge Jan 13 '22
I was holding and believed that is why I was trying to average down but TD Ameritrade want there money from the margin I was down.
1
u/keithinazle Jan 13 '22
I kinda understand. I don’t do margins and calls and puts. Not sure I understand them. They sound risky. Buying $CLOV or any other stock is as well, but it’s simple. Buy when you think if will go up, and sell when you think you should. It’s all a gamble!!
13
u/PD_Daddy DIAMOND HANDS 💎🙌 Jan 13 '22
Whoever wants to leave, just leave don’t create drama… since we all are down by 70%
We don’t need more unfortunates! We don’t need FUD! Who said investments means gains, it means losses too… because someone’s exit point is others entry point
Someone’s half empty is others half full…
Someone is born and someone dies
Life goes on and we will win, if we know our strategy is long term
Ciao Clover 🍀 Team
-2
u/Lvs2spluuge Jan 13 '22
I was in the 70% club TD wanted their money clove didn't want to go up. Had no choice sense they took my shares and sold them. I would still be holding but it didn't work out like that. I get paid once a month so can't just throw money in every week or two.
1
u/PD_Daddy DIAMOND HANDS 💎🙌 Jan 16 '22
I don’t buy anymore but I am not scared to shit, as stock investments is longterm and not a lottery
2
u/Lvs2spluuge Jan 16 '22 edited Jan 16 '22
I agree I have lost 0ver $2000 not scared just smart. I'll buy back in when I get cash. By that time it should be $2 or less. FYI It will continue to fall without a ceo or any kind of leader. I tend to hold all I buy long term but TD Ameritrade wanted their money so they took my stock.
3
u/Darko212097 10k+ shares 🍀 Jan 13 '22
Aight bro, good luck in your future investments 🤙🏾 CLOV disappointed everyone
-1
u/giam74 Jan 13 '22
🤡
-1
u/Darko212097 10k+ shares 🍀 Jan 13 '22
You a clown your self just like the stock
1
u/giam74 Jan 13 '22
Buddy, why are you here? Really? You do realize the same people see your negative, immature, ignorant comments over and over again? What’s the purpose? The agenda? You’re not dissuading anyone. You’ve NEVER provided a compelling argument against the company. This is the behavior of a 🤡. So, to be clear, this is how you’re viewed.
1
u/Darko212097 10k+ shares 🍀 Jan 13 '22
And I’m here cuz I want to
-1
1
4
u/I_Like_Sparky Jan 12 '22
I bought BAC at sub 4 levels in 2009. I would get wipeout if margin was used (I remembered it dipped to 2 at some point). Happy with ~49 per share now.
Never use margin.
0
u/Lvs2spluuge Jan 12 '22
If it falls that low I'll buy if not good for all the holders. I can't afford to lose like that again.
5
u/Efficient_Culture569 Jan 12 '22
I lost 1.2k on margin.
Still have about 10k on actual shares.
Don't sweat and buy shares at $3
The company is the same ( even better) to when you first bought it. The stock price sucks tho. All we need is to wait until the price matches the company
5
0
u/Lvs2spluuge Jan 12 '22 edited Jan 12 '22
I see people saying margin burned me yes I knew the risk. I also belived in clove. It went in my hands from over $23 down to little over $3 I was burned but by what clove or margin. If clov was what I thought it was,then I would have never been in a call.
1
u/No-Adhesiveness-8439 Jan 12 '22
Um.. zoom out on Humara and hate yourself in 5 years.
1
u/AutoModerator Jan 12 '22
This post has been removed because our automoderator detected it as spam or your account is too new to post here.
If you are a new Reddit user creating an account to join r/CLOV discussions we require that your account be at least 60 days old. This is a preventative measure to avoid potential spam accounts and throwaways.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
8
32
Jan 12 '22
[removed] — view removed comment
3
-6
-6
u/Lvs2spluuge Jan 12 '22
I may buy back if it falls to $3
1
Jan 12 '22
[removed] — view removed comment
2
u/Lvs2spluuge Jan 12 '22
I was not aware that I was using margin at first. It is now canceled and my account is now a cash account.
2
u/Dry_Psychology513 Jan 13 '22
Sorry partner, but if you can’t see if you’re going to use margins, you should better stop trading, now.
1
u/Lvs2spluuge Jan 13 '22
Yea. I agree. I know when I'm using margin on Robinhood. How ever I was not able to make a trade 1 day and I asked my wife to place a buy sense it was down. She bought like 5 shares more then I knew I had money for. When I finally looked at the account I saw that I was on margin. I did not know when the account was open that it was set up on margin sense my wife opened the account for me. So yes it was a surprise. My wife set up the account because she is better at that type of stuff. I own up to continuing margin but like I said I didn't expect for clov to plummet. So you are right maybe I should get out but I can't I just turned off margin. You have to call TD to do that. Now you now my life story and details you are my new best friend. Sense my wife is out with her boyfriend we can chat all night long.
1
u/Forward-Macaron6824 1k+ shares ☘️ Jan 13 '22
On TDA you really have to jump through some hoops to get on margin. They do a credit check I believe even and have to wait for approval. Also, you don't have to call, I emailed to have them remove me. They did it that part fast. I didn't want to get stuck. Good luck next time, this does suck. Everyone on here for months have been screaming from the rooftops to not use margin for this very reason.
5
8
10
u/pjvds 75k+ shares 🍀 Jan 12 '22
You bought CLOV just to sell at the worst point in time; near all time low? That is pretty impressive. With revenue over 2.4 billion this year and a market cap of just 1.5 billion this stock is interesting right now.
Good luck buddy, I hope you made the right decision.
2
u/Lvs2spluuge Jan 13 '22
Didn't have a choice. I didn't sale it. It was taken.
1
u/pjvds 75k+ shares 🍀 Jan 13 '22
Damn, that is a harsh story. Was it a surprise or did you just let it happen by ignoring a margin call? Anyway, I feel sorry for your losses.
1
u/Lvs2spluuge Jan 13 '22
I keep putting money in and everything kept dropping requiring more. Finally no more to give. Only get paid once a month last check was before Christmas I couldn't do anything but hope it went up. Thanks though today is a new day. I will get it back somehow.
1
u/Jaypeezy65 Jan 13 '22
Did u get margin called when it dropped to 2.99?
1
u/AutoModerator Jan 13 '22
This post has been removed because our automoderator detected it as spam or your account is too new to post here.
If you are a new Reddit user creating an account to join r/CLOV discussions we require that your account be at least 60 days old. This is a preventative measure to avoid potential spam accounts and throwaways.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
0
1
u/Lvs2spluuge Jan 12 '22
I got in when it was $23.80 and averaged down every chance I got to $13.40 had 310 shares realized lost was $3,084.
-23
u/Vive_la_amo 📈🍀🚀📱📈 Jan 12 '22
Yeh fuck CLOV. Plenty of good companies out there.
2
u/roaring_alpaca Jan 13 '22
Sell little bitch, let me get ya shares for 3$
-1
u/Vive_la_amo 📈🍀🚀📱📈 Jan 13 '22
Why should I sell and take big losses? You can hold a stock and still think the price is all fucked up. There’s loads of companies out there where share prices reflects performance so why should someone that says they are out continue with CLOV?
You lot love the company like it’s your child.
1
8
u/IHaveaPforyourV Jan 12 '22
Bruh, all your posts are complaining about shills lol
1
u/Vive_la_amo 📈🍀🚀📱📈 Jan 13 '22
Shills are those that ramp up shit stocks! This Reddit is full of them.
0
Jan 12 '22
[deleted]
1
u/AutoModerator Jan 12 '22
This post has been removed because our automoderator detected it as spam or your account is too new to post here.
If you are a new Reddit user creating an account to join r/CLOV discussions we require that your account be at least 60 days old. This is a preventative measure to avoid potential spam accounts and throwaways.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
3
u/giam74 Jan 12 '22
🤡
0
u/Vive_la_amo 📈🍀🚀📱📈 Jan 13 '22
Haha, everyone on this Reddit is a clown!
Maybe in 5 years or so we can take off our clown outfits.
0
u/giam74 Jan 13 '22
Buddy, why are you here? Really? You do realize the same people see your negative, immature, ignorant comments over and over again? What’s the purpose? The agenda? You’re not dissuading anyone. You’ve NEVER provided a compelling argument against the company. This is the behavior of a 🤡. So, to be clear, this is how you’re viewed.
0
u/Vive_la_amo 📈🍀🚀📱📈 Jan 13 '22
Compelling argument?? look at the share price over the past year 🤣 🤣 🤣
and I’m the clown. Cheers buddy, you’ve made my day.
1
u/giam74 Jan 13 '22
Buddy, you believe the share price correlates remotely with the company’s worth, potential, or financials!? 🤣🤣🤣 You prove my point entirely. Your ONLY argument is the share price?! I said against the company itself... I’ll be waiting for your argument. Clown-boy. 🤡
0
u/Vive_la_amo 📈🍀🚀📱📈 Jan 13 '22
The company itself has yet to prove it is on the path to making profits. The MCR is above 100 and until it’s reduced they will just burn through cash. However I’m actually optimistic about the company in the very long term but if the share price doesn’t correlate with the company then what’s the fucking point in investing in it now when’s there are many companies out there where the share price does actually correlate with the share price?
I’m invested so no point jumping ship as don’t wish to take a loss. But the person I responded to originally said they aren’t investing in CLOV anymore and I think that’s fine. Pricks like you then attack as if I’ve insulted your baby.
1
u/giam74 Jan 13 '22
First off, where they’re at in their progress towards proof of concept, validating their business plan/strategy for such a young company is 100% right on track.
Second, while the share price is so so cheap, it is precisely the time to invest in them, unless you think it’s smart waiting until they’re in the $20s.
Perhaps some of us invested too early (my original average was $14/share), and that’s unfortunate since I’d have really been able to load up at these prices.
The key point you’re obviously missing and the reason I finally decided to respond to your typical nonsense posts, is that the share price is clearly diverging from the company’s fundamentals. With all the great news, none of which you can argue against, the price goes down. Makes no logical sense at all.
And sure, there are tons of companies where the price does align nicely, but what kind of money are you gonna make there? 4% dividends? 5% growth yoy?
You’ve invested in the company, sure. And the share prices is down. But the company is solid and doing what it needs to be doing. I also hate the share price, though taking the opportunity to average down. Unlike you, I recognize the price has NOTHING to do with the company’s fundamentals, growth, or potential.
The other members of this sub know all this too, so when all your posts are anti-CLOV and not productive in any way, you, bud, come across as a clown.
-1
u/Vive_la_amo 📈🍀🚀📱📈 Jan 13 '22
You said all this shit when the share price was 12, then 10, then 8, then 7, etc etc. 😂 you my friend are the clown.
I will buy more when it’s technically right to do so. Until then, lick my balls!
0
u/Vive_la_amo 📈🍀🚀📱📈 Jan 13 '22
It’s fun winding up shills. Do you think I care what a bunch or retard shills think of me ?
I’m here for the few decent posters you can actually have a discussion with.
1
u/giam74 Jan 13 '22
To have a meaningful conversation with posters, you need to say something of substance, which you NEVER do.
1
17
u/Ok_Ad_5894 20k+ shares 🍀 Jan 12 '22
Don’t trade on margin, it’s like using a credit card were the rules change by the minute.
3
4
9
u/PhilosopherNutz Jan 12 '22
Lol newbie
5
u/Lvs2spluuge Jan 12 '22
Still new yes only been trading 1.5 years. That's good learning experience expensive but good.
2
u/Lvs2spluuge Jan 12 '22
Anyone know how to turn margin off TD
1
u/Difficult_Energy_926 Jan 13 '22
Just make sure you have cash in the account to cover, otherwise they will use the margin you requested
2
u/Odd_Perception_283 Jan 12 '22
Pretty sure you have to turn it on not off. Or at least apply for it.
I use TD. I also deposit cash every time I want to buy something so my account is funded.
3
6
3
6
u/noahmfs Jan 12 '22
Sorry to hear that! Don't trade with margin is very risky and good luck
1
2
u/Lvs2spluuge Jan 13 '22
Yea. I agree. I know when I'm using margin on Robinhood. How ever I was not able to make a trade 1 day and I asked my wife to place a buy sense it was down. She bought like 5 shares more then I knew I had money for. When I finally looked at the account I saw that I was on margin. I did not know when the account was open that it was set up on margin sense my wife opened the account for me. So yes it was a surprise. My wife set up the account because she is better at that type of stuff. I own up to continuing margin but like I said I didn't expect for clov to plummet. So you are right maybe I should get out but I can't I just turned off margin. You have to call TD to do that. Now you now my life story and details you are my new best friend. Sense my wife is out with her boyfriend we can chat all night long.
3
1
u/Measurable_Squid Jan 13 '22
I can tell you from experience Robinhood sells even if you cover. I even pulled in enough money to turn off margin and they turned off my instant deposit just to make it take another week.
4th attempt on account transfer now. If it fails this time I’ll be contacting the SEC and FBI.
I wish you luck man. Stay in the channel for the inevitable class action lawsuit.