Investing in the stock market can be exciting, but there can be situations where you may face difficulties while selling your stocks on Robinhood or with any brokerage platform.
This can be frustrating, especially if you are looking to liquidate your assets to lock in profits or cut losses.
However, several common reasons can explain why you may not be able to sell your stock on Robinhood.
One of the most common reasons why you may face difficulties in selling your stock is when you have an outstanding pending order for the shares of stock you want to sell.
If you try to sell the shares while there is an open order, you will receive a "not enough shares" error message.
To resolve this issue, you must cancel any outstanding orders before selling the shares.
Another reason you may face difficulties in selling your stocks is if you received free stock as part of Robinhood's referral program.
You can sell the stock you receive as part of this program three trading days after receiving it.
Once you have sold it, you are free to use the proceeds to invest in other stocks.
If you have declared yourself as a control person for a company, Robinhood may block you from trading that stock for compliance reasons.
This is to prevent any potential conflicts of interest and maintain regulatory compliance.
There can be other reasons for restrictions on your account, such as transfer reversals, incorrect or outdated information, fraud inquiries, or account levies.
To resolve these issues, you must cover any outstanding balances owed to Robinhood and contact customer service to understand why you are unable to sell your stocks.
In conclusion, while there can be several reasons why you may face difficulties in selling your stocks on Robinhood, it's essential to understand the underlying reason and take the necessary steps to resolve the issue.
If you are still unable to sell your stocks, contacting Robinhood's customer service is the best option to understand and resolve the issue.
Don't forget to grab your free stock worth up to $200 from Robinhood today!