Non-Marginable Stock

[jmkopp]

I just put a check into my TD Ameritrade account today. Every other time I have done this I was able to purchase MannKind stock within about a half an hour after putting the check into the system. Today when it showed up in my account about 30 minutes after I put the check in the site wouldn't allow me to buy MannKind stock. So I called TD Ameritrade and they told me it was because it was a non marginable stock. I never had this problem before. Did mankind stock just become non marginable in other brokerage houses?

[nylefty]

MNKD is still marginable in my Fidelity account.

[mytakeonit]

Switch to E*Trade ... I do electronic transfers from my bank in Hawaii and they let me trade based on the equity in my account even though I can't take cash out for 3 days. Of course, you do have to have equity in your account.

But, that's mytakeonit

[agedhippie]

Aug 12, 2020 17:10:36 GMT -5 jmkopp said:

I just put a check into my TD Ameritrade account today. Every other time I have done this I was able to purchase MannKind stock within about a half an hour after putting the check into the system. Today when it showed up in my account about 30 minutes after I put the check in the site wouldn't allow me to buy MannKind stock. So I called TD Ameritrade and they told me it was because it was a non marginable stock. I never had this problem before. Did mankind stock just become non marginable in other brokerage houses?

Whether a stock is marginable or not is a decision for the brokerage. Usually it is a combination of the quantity of stock the brokerage hold on margin in total, and the price action (volatility and direction) of the stock. The fact that it is non-marginable now doesn't mean that it will still be non-marginable in a couple of weeks as the risk is re-evaluated on a daily basis.

[jmkopp]

Thanks everyone for the info!