The “Always On Time” rapper is referring to Robinhood (and other popular trading apps like TD Ameritrade) restricting trading of GameStop and AMC stock. The surge in stock purchasing began yesterday (27 January) when Reddit users collectively took on Wall Street by purchasing stock in the aforementioned brands with the end goal of raising the stocks’ values.
“In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AAL, $AMC, $BB, $BBY, $CTRM, $EXPR, $GME, $KOSS, $NAKD, $NOK, $SNDL, $TR, and $TRVG,” a Robinhood rep said on Thursday. “We also raised margin requirements for certain securities.”
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