As of Thursday morning … Robinhood customers can no longer buy Gamestop stock on the free-trading app, thereby blocking members of the WallStreetBets forum on Reddit. Of course, that group of investors sparked the resurgence of GameStop’s stock.
In making the move, Robinhood emailed customers warning of “the current volatile market conditions.” The notice stated, “It’s as important as ever to be an informed investor,” and included links to its investment resources.
By Robinhood blocking trading on Thursday, the general feeling among the public is that the financial services company is siding with the hedge fund people on Wall Street … and screwing over the little guy.
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