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Inquiries into freezes should not be limited solely to Robinhood.
This is a serious matter. Committee investigators should examine any retail services freezing stock purchases in the course of potential investigations - especially those allowing sales, but freezing purchases.
This is unacceptable.
We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.
As a member of the Financial Services Cmte, I’d support a hearing if necessary.
Robinhood is officially a case study in the fragility of brand.
It took them 7 years to build up confidence in their platform.
It took them 1 day to switch from "by the people" to "against the people."
Oh. So, both the WallStreetBets discord and Reddit got shutdown within an hour of each other.
Surely there's no way these two events could be connected...
Enter the ''whales''- individual investors who can make a splash and impact the stock. Millionaires and billionaires that have a bone to pick with hedgefunds and short sellers.
(whether you like these people or not is irrelevant, they're part of this story regardless)