The company said Thursday it has restricted transactions for certain securities "amid significant market volatility." Numerous Robinhood users have confirmed this on Twitter. When they tried to open one of the stocks, they got a message that said, "You can close out your position in this stock, but you cannot purchase additional shares." The complete list of shares that currently cannot be bought through Robinhood is as follows: $AMC, $BB, $BBBY, $EXPR, $GME, $KOSS, $NAKD and $NOK. Robinhood says it has also raised margin requirements for certain securities.
Conservative commentator Candace Owens took aim this week at the stock trading app Robinhood after it blocked amateur traders from buying shares in companies like GameStop amid chaos on Wall Street. Robinhood has faced intense bipartisan backlash over its actions to halt trading of various companies whose stock prices surged dramatically after a group of Reddit users bought up shares. Robinhood was accused by some critics of market manipulation, while others have called for the tech company to be investigated. JON STEWART JOINS TWITTER, CALLS ROBINHOOD BLOCKING GAMESTOP STOCK PURCHASES'BULLS---' Owens compared Robinhood's actions to the disabling of the conservative-favored social media app Parler by tech giants Amazon, Apple and Google.. "The #RobinHood scandal reminds me of when millions of Americans organized to flee Facebook & Twitter for Parler--and then a bunch of crooks (Google & Apple) shut it down by pretending that the competition was illegal," Owens tweeted Thursday. "Wall Street & Big Tech are criminal, colluding enterprises," she added.
Shares of video game retailer GameStop shot up, the online broker Robinhood struggled for cash and securities regulators issued a stern warning for anyone trying to game the market. Shares of video game retailer GameStop shot up, the online broker Robinhood struggled for cash and securities regulators issued a stern warning for anyone trying to game the market. The GameStop stock-market roller coaster continued Friday as the video game retailer's shares shot up, the online broker Robinhood struggled for cash and securities regulators issued a stern warning for anyone trying to game the market. Catapulted by seemingly unrelenting enthusiasm on Reddit, GameStop stock soared more than 70%. On Thursday, it had plunged 44%.
The first thing you spot on the home page of subreddit r/WallStreetBets is a banner featuring a cartoon character in a suit riding on a yacht, with a street sign reading "Wall St" sitting on top. While the Reddit community might not look serious, its collaborative investing strategy has captured the attention of Wall Street. The subreddit has played a key role in the shares of struggling video retailer GameStop surging by more than 1,000% at times this week. The Reddit revolt focused on a strategy called short selling, where hedge funds make money by betting that share prices will fall.These investors earn by identifying a stock expected to drop in value, then borrowing shares from another investor and immediately selling them. By the time they have to return the shares, they hope they're able to buy the stock at a lower price, to profitfrom the difference.
Fox Business Flash top headlines are here. Check out what's clicking on FoxBusiness.com. Rep. Alexandria Ocasio-Cortez and Sen. Ted Cruz on Thursday were among the many voices condemning the move by the retail trading platform Robinhood to restrict customers from trading shares of GameStop -- but the sophomore congresswoman said she had no interest in working with Cruz to hold Robinhood accountable because Cruz "almost had me murdered 3 weeks ago." Ocasio-Cortez, D-N.Y., was referencing Cruz's challenge to Arizona's Electoral College votes earlier this month as Congress met to certify President Biden's election win. Cruz's challenge has been linked by many to the attack on the Capitol by a pro-Trump mob that was fueled by the former president's false claims that he'd won the presidential election.