Lubbock financial advisor warns against ‘volatile’ GameStop as apps lock out buyers

LUBBOCK, Texas (KCBD) – The stock market is known for its ups and downs, but the rise and fall of GameStop is really turning heads. The short squeeze of the company’s shares is the brainchild of the subreddit WallStreetBets.

“Once there’s blood in the water, everyone starts playing. Those big high-frequency traders, and other hedge funds. As of now, I would say retail is not driving the boat anymore,” Sturdivant said.

Robinhood, the trading app that prevented its users from buying GameStop shares on Thursday, is now facing a class-action lawsuit.

This content was originally published here.