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January 28, 2021

We All Got Taken… Robinhood, Webull & More Turn On Consumers Over Gamestop, AMC, Blackberry & NOK

TheQuartering [1/28/2021]

I don’t really know what else to say. The system is rigged, and I hope all these crooks go to jail and lose billions.

According to MarketWatch:

The meteoric rise of stocks discussed on Reddit’s WallStreetBets forum — like GameStop GME, -33.01% and AMC AMC, -53.89% — has caused major disruptions in the stock market.

Stock trading companies like Robinhood, TD Ameritrade and Interactive Brokers IBKR, +0.90% have halted purchases on such stocks.

The moves to restrict trading have led to complaints about the lack of free trade going on in the markets. Among those criticizing the move is billionaire Mark Cuban.

Barstool Sports’s Dave Portnoy, a notoriously active day trader, is also criticizing Robinhood for its lack of “free trading.” Barstool Sports is owned by Penn National Gaming PENN, +9.95%.

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