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Rob from the poor and give to the rich? Robinhood prompts furious backlash after restricting trades

Published 01/28/2021, 01:18 PM
Updated 01/28/2021, 03:00 PM
Rob from the poor and give to the rich? Robinhood prompts furious backlash after restricting trades

Mere hours after once-popular trading app Robinhood announced it would be suspending purchases of stocks pushed by retail investors on Reddit, and the community backlash has been swift and harsh.

This morning, Robinhood said it had restricted transactions for American Airlines (NASDAQ:AAL), AMC Entertainment (NYSE:AMC), Blackberry (TSX:BB), Best Buy, Castor Maritime, Express, GameStop (NYSE:GME), Koss Corporation, Naked Brand Group, Nokia (NYSE:NOK), Sundial Growers (NASDAQ:SNDL), Tootsie Roll Industries, and Trivago N.V.

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Latest comments

Looking at what's happening , now all users of this app should leave it and join together to demand it as they are blocking the services for small retailers. All we know how hedge funds make money but this matter is totally .....no words
Robinhood and other trading apps restricted Millions of investors from buying certain stocks because their BILLIONAIRE Hedge Fund buddies are crying!!! However, there is no restrictions for hedge funds to short a billion shares to drive down price and cover their short positions today. Hedge funds are allowed to gang up snd short 140% of a company’s stock, but common people are not allowed to buy, while the SEC is sleeping (hopefully not with billionaires!) and allowing all these to happen. Can this disparity look any worse in terms of public relations for the trading apps, the government and elected officials?$AAL, $AMC, $BB, $BBBY, $CTRM, $EXPR, $GME, $KOSS, $NAKD, $NOK, $SNDL, $TR, and $TRVG
lol thats the whole article?
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