How to Sell Stocks on Robinhood
Robinhood, the popular stock trading app, makes buying and selling stocks relatively simple. If you’re looking to sell stocks you own, here’s a detailed guide on how to do it:
- Open the Robinhood App:
- Launch the Robinhood app on your smartphone or tablet. Make sure you are logged into your account.
- Find the Stock You Want to Sell:
- On the home screen, you should see a list of your owned stocks.
- Scroll through the list and locate the stock you want to sell.
- Navigate to the Stock’s Detail Page:
- Tap on the stock you intend to sell. This will take you to its detailed page.
- Here, you’ll find the current price, charts, news, and other information related to the stock.
- Select “Trade”:
- Look for and tap on the “Trade” button, usually located at the bottom of the screen.
- Choose “Sell”:
- From the trade options, select “Sell.” This will indicate you want to sell the stock.
- Enter the Quantity or Dollar Amount:
- Robinhood offers flexibility in how you specify the amount to sell.
- You can enter the number of shares you want to sell directly.
- Alternatively, you can enter the dollar amount you wish to sell.
- Robinhood offers flexibility in how you specify the amount to sell.
- Review and Confirm the Order:
- Carefully review your order. Double-check the stock, quantity or dollar amount, and the order type (which is usually a market order by default).
- Swipe to Submit:
- If you are satisfied with the details, swipe up to submit your sell order.
- Order Confirmation:
- Once your order is submitted, you should receive an order confirmation message on the screen.
Important Considerations:
- Market Order vs. Limit Order:
- A market order is executed immediately at the current market price.
- A limit order allows you to set a specific price at which you want to sell. The order will only execute if the stock reaches that price.
- Tax Implications:
- Selling stocks may have tax consequences. Consider consulting a tax professional if you are unsure of the potential tax implications.
- Fractional Shares:
- Robinhood allows selling fractional shares. This means you don’t have to sell all the shares of a stock at once.
By following these steps and understanding the different order types and potential tax consequences, you can confidently sell your stocks on Robinhood