/  01.28.2021


Robinhood’s stock trading shutdown outraged many on Thursday (Jan. 28), including Rep. Alexandria Ocasio-Cortez. The New York Congresswoman took to Twitter to say that she’d “support a hearing if necessary” to learn more about the legality of the stock trading platform’s restrictions.

“This is unacceptable,” AOC wrote. “We now need to know more about [Robinhood’s] decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.”

“As a member of the Financial Services Cmte, I’d support a hearing if necessary,” she added.

As reported by REVOLT, Robinhood blocked users from purchasing GameStop and other shares on Thursday morning in response to the company’s stock boom on Wednesday night (Jan. 27). The platform describes itself as “democratizing finance for all,” which some users are now calling hypocritical in regard to their latest restriction.

“Either #Robinhood allows people to trade freely in the market or they will lose millions of users,” one person wrote on Twitter.

“Robinhood canceled stock orders on #gme #amc #NOK etc…. There should be a class action lawsuit. I thought we had a free market,” another complained. “So Wall Street is OK with me losing hundreds of dollars, so that rich investors can’t be called out on their risks.”

Ja Rule, a Robinhood user who had actually endorsed the company just hours prior, also fumed about the stock trading shut down.

“Yo this is a fucking CRIME what [Robinhood] is doing DO NOT SELL!!! HOLD THE LINE… WTF,” he tweeted. “They hedge fund guy shorted these stocks now we can’t buy them ppl start selling out of fear… we lose money they make money on the short… THIS IS A FUCKING CRIME!!!”

Along with GameStop, whose shares surged by over 400 percent on Wednesday, Robinhood also blocked users from buying stock in AMC, BlackBerry, Bed Bath and Beyond, Express, Koss, Naked Brand Corp. and Nokia.

See AOC’s tweet below.

Trending

King Combs vs. Rowdy Rebel | The Crew League (S2, Ep. 3)

Rowdy Rebel and the Shhh Gang shoot it out with King Combs and the CYN ...
  /  06.18.2021

President Biden extends student loan payment freeze until May

The president said he will extend the student loan payment pause an additional 90 days.
  /  12.22.2021

Fans claim Lil Wayne could take on JAY-Z in a Verzuz battle

Hov recently said no one would have a “chance in hell” against him in the battle ...
  /  12.22.2021

Lil Jon thinks Busta Rhymes would "smoke" JAY-Z in a Verzuz

The Atlanta producer reacted to Hov’s belief that no one can face him in the ...
  /  12.22.2021
View More