This Is Beyond Absurd: Robinhood Faces Backlash After Preventing Purchases Of Gamestop And Other Memestocks.
Us politicians and personalities have joined the growing backlash against Robinhood after the investment app blocked customers from buying Gamestop, AMC, and other stocks on Thursday.Robinhood launched an announcement claiming that the decision to limit transactions becomes because of “full-size m
An among lawmakers calling for hearing into app’s decision to dam retail traders.
Us politicians and personalities have joined the growing backlash against Robinhood after the investment app blocked customers from buying Gamestop, AMC, and other stocks on Thursday.
Robinhood launched an announcement claiming that the decision to limit transactions becomes because of “full-size market volatility” surrounding agencies promoted on the Reddit discussion board wallstreetbets.
“We are proscribing transaction for certain securities to put final most effective,” the statement read, list agencies along with Nokia and bed, tub and beyond, as well as Gamestop and AMC. Us congresswoman Rashida tlaib criticized the pass and called for a hearing by the residence committee on monetary services.
“This is beyond absurd. @fscdems need to have a listening to on Robinhood's marketplace manipulation,” ms tlaib tweeted. “they’re blocking the potential to exchange to guard wall st. Hedge budget, stealing tens of millions of greenbacks from their customers to defend individuals who’ve used the inventory marketplace as a casino for decades.”
Congresswoman Alexandria Ocasio-Cortez, who serves to move the committee, stated she would help a hearing on Robinhood's choice to dam retail buyers. “as a member of the economic offerings [Committee], I’d assist a hearing if important.”
Celebrities also gathered criticism on Robinhood, with rapper Ja rule tweeting: “yo this is a f***ing crime what @robinhoodapp is doing does no longer sell!!! Maintain the line… wtf."
Twitch streamer and net personality xc delivered: “hello @robinhoodapp y’all are a bunch of shameless shmucks. What a disgrace.”
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