Members of Congress have their eyes on Robinhood.
apps, including Robinhood, to . This caused a backlash among users, and now some members of Congress are taking notice.this week thanks to a movement on Reddit. The caused some investing services and
Rep. Alexandria Ocasio-Cortez, a Democrat from New York; Rep. Rashida Tlaib, a Democrat from Michigan; and Sen. Ted Cruz, a Republican from Texas, all were in agreement that there should be a hearing on Robinhood’s decision to restrict the trading of GameStop, AMC and other stocks on Thursday. The investing service said in a blog post Thursday morning that it would only allow the selling of shares from Blackberry, Express, Koss, Naked, Nokia, AMC and GameStop due to the recent market volatility.
Fully agree. 👇 https://t.co/rW38zfLYGh
— Ted Cruz (@tedcruz)
Stay in the know
Robinhood isn’t the only investing app to put restrictions on trading GameStop stock.tweeted Thursday it would also prevent the buying of stocks from the video game retailer as well as AMC and headphone manufacturer Koss. TD Ameritrade said Wednesday it would r .
Robinhood didn’t immediately respond to a request for comment.
This content was originally published here.