You may appreciate Robinhood for its streamlined layout, basic trading options and simple account types. Itâ€™s a great start for beginners (or anyone, really!) who wants to get in and get out on a simple platform. However, Robinhood wasnâ€™t designed for in-depth technical analysis, so whether you want to sell on the heels of the WallStreetBets Reddit phenomenon, jump on another platform or start shopping for Robinhood alternatives, youâ€™ve landed in the right spot.
Let Benzinga take you through a step-by-step guide to how to sell stock on Robinhood. Weâ€™ll cover how to sell stock on the Robinhood app, then cover how to sell stock on the web platform.
Step 1: Browse the stocks you own.
Find the stock you want to sell by browsing on the Robinhood app. You should see the number of shares you own, your equity, average cost, your portfolio diversity, todayâ€™s return, total return and todayâ€™s volume. You can learn the stockâ€™s historical performance, analyst ratings, company earnings and other helpful information to help you make your final decision about selling a stock on Robinhood.
Step 2: Hit the â€œtradeâ€ button.
You have the option to buy or sell, and in this case, hit the â€œsellâ€ button. On the other hand, if you change your mind and want to buy, you can do that here, after you select â€œtrade.â€
In the upper right corner, choose if you want to sell in dollars or shares. Insert the number of shares or dollars you want to sell. You can also see the market price and Robinhood will tell you how much credit youâ€™ll receive if you sell that particular stock.Â Â
Step 4: Choose a market order or limit order.
You can choose a market order and receive the market price for your sell or you can choose a limit order and specify the amount youâ€™re willing to receive per share of stock you plan to sell. Note that you can cancel limit orders at any time, especially if you decide you no longer want to sell your shares. Thatâ€™s not the case with market orders â€” if the markets are open, your order will execute.
Step 5: Review and swipe to submit.Â
Once you think it looks great, tap review and swipe up and youâ€™ve sold your shares.
How to Sell on Robinhoodâ€™s Web Platform
Youâ€™ll follow the same general process to sell on Robinhoodâ€™s web platform.
- Look at the stockâ€™s detail page for company information.
- Click â€œsellâ€ on the right side of the screen â€” on Robinhoodâ€™s order window.
- Determine whether youâ€™d like to sell in dollars or shares using the drop-down menu.
- Click review and submit your sell order.
Frequently Asked Questions
Q: How long does it take to sell stock on Robinhood?
A: The time it takes to sell a stock depends on liquidity, market demand and characteristics of the stock you plan to sell. It also depends on the type of order you choose, whether a market or limit order.
Q: Can I sell all my stocks at once on Robinhood?
A: You can withdraw up to $50,000 per business day from Robinhood, according to Robinhoodâ€™s website.
Q: What happens when you sell stock on Robinhood?
A: After you sell stock, Robinhood sends your orders to market makers that execute your trades. After that, something known as â€œclearance and settlementâ€ occurs. It takes 2 days for the clearinghouse to transfer your stock to you. Learn more about what happened after the WallStreetBets phenomenon.