The restrictions came after the platform’s users reportedly coordinated on social media to inflate the value of GameStop and other companies’ stock and inflicted billions of dollars of losses on financial giants that had taken short positions against the struggling companies. The host of RT’s Boom Bust, Sara Montes de …
Read More »Facebook BANS ‘Robinhood stock traders group’ with 150k+ members over ‘sexual exploitation’ amid GameStop craze – reports
The Robinhood Stock Traders group boasted more than 157,000 members before it was taken offline on Wednesday, its 23-year-old founder, Allen Tran, told Reuters, adding that the social media giant cited its policies surrounding “adult sexual exploitation.” A notification of the ban seen by Reuters included no further reasoning for …
Read More »Trading app Robinhood accused of AUTOMATICALLY SELLING users’ shares after banning GameStop stock – reports
Twitter users on Thursday reported seeing their GameStop shares sold and their positions closed, with Robinhood justifying the sale due to “unreasonable risk.” Traders who attempted to cancel the sale were met with a message telling them the sale couldn’t be undone, “as we placed it to mitigate the risk …
Read More »New York attorney general ‘reviewing’ Robinhood case after class action suit accuses trading app of ‘market manipulation’
“We are aware of concerns raised regarding activity on the Robinhood app, including trading related to the GameStop stock. We are reviewing this matter,” James said in a statement on Thursday. The announcement came hours after a group of investors slapped Robinhood with a class action lawsuit in New York’s …
Read More »Investors file CLASS ACTION SUIT against Robinhood over GameStop ‘stonk’ suppression
According to the lawsuit, filed on Thursday before a federal judge in the Southern District of New York, Robinhood “purposefully, willingly and knowingly” deprived retail investors of the ability to invest, accusing the brokerage of “manipulating” the market. Robinhood “completely blocked retail investors” from buying GameStop stock “for no legitimate …
Read More »Trading app Robinhood SHUTS DOWN GameStop stock, after Reddit traders embarrass Wall Street
Traders logging on to Robinhood on Thursday were informed that they were no longer able to purchase stock in $GME, $AMC, $BB and $NOK (GameStop, AMC Theaters, Blackberry and Nokia). These are the four companies whose share prices were massively inflated in recent weeks by crowds of amateur investors purchasing …
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