Disable that profit sucker
The WeBull Stock Lending Income Program SOUNDS great, but it isnt.
In a one sentence summary – it allows webull to lend your shares out to shorts who are actively betting against you and your stock positions.
This below picture shows how to disable the webull stock lending income program, if you are in a hurry. It appears to be turned on or enabled by default. So go check yours. Now.
Please read on below this picture for some good discussion points, comment, and opinion about WeBulls stock lending income program.
If you are like me, you were aware of the stock market (obviously) but had no real intentions of ever ‘playing stocks’ or ‘dabbling’ or whatever. I could never justify the risky spend of money (its just another form of gambling).
Further, I have zero interest in hiring and paying some advisor or broker to manage my own money on my behalf. I’m really tight with my money and generally don’t invest in anything so risky as something like the corporate money manipulation markets.
That whole line of thinking changed one day for me, in the blink of an eye. Well, it was maybe really across 2 or 3 days, but it was fast.
I have a friend that was in on the GME (gamestop) and AMC (amc entertainment) stock blowouts. I don’t know if he got rich like retirement-rich off the play, but I know he got some money. A lot of money. New car sized money.
As I witnessed this happen firsthand, it changed my perspective on trading. This friend of mine is just another dude, he’s no suit and tie, no corporate man, or anything. In fact he is far far away from the typical corporate yes-man stereotype profile.
I asked him what broker he was using to trade, as everyone was crying about ‘Robinhood’ halting stocks and preventing transactions and everything else they did to manipulate the situation.
He advised to get an app called WeBull, which I promptly did. Webull, robinhood, and other apps let a single person act as their own broker or trader, with no encumbrance.
My friend also directed me to a discord chat owned by another mutual friend of ours (whom also I had no idea was a stock day trader) to join his chatroom and pick up stock tips and learn about the markets and trading.
So, I got my account built, etc., and have been using webull this whole time since. But just the other day I heard about this webull stock lending income option via a comments section on one of the stocks I currently hold.
After seeing this setting is on by default, and further realizing that every single stock a webull user buys, now has a 1:1 ratio against your position, I felt obligated to make this page and help spread the awareness of this dastardly practice to every webull user.
Nothing in life is free, and now you know one of the ways they get their money out of you.
So in my case, I had made $.02 – two cents – in about a year of holding stocks via the webull stock lending income program. Inversely, I have lost many dollars on under-performing stocks that seemingly just start losing value, even and maybe especially when the number of buyers are far more than the sellers.
The shorts that buy your lent out stock are betting against you. On your very same stock you just lent them. That stock you just bought thinking it would increase in value. You obviously want the stock to go up in value, not down. Webull and the shorts get paid. From you. Using your stock position against you.
Go turn off your webull stock lending income program enrollment option that you didn’t choose to join in the first place. Now. Right now.
Don’t give your money to the shorts and market manipulators. Turn this crap off. Shame on this scam practice.