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Thursday, February 2, 2023

robinhood gamestopclark theverge – TM

On January 28, 2021, the subreddit r/wallstreetbets drove up shares of GameStop Company (GME) by over 1,700% in a single day. This triggered main on-line brokerages corresponding to Robinhood to halt buying and selling in GME and different so-called “meme shares” that have been being closely traded by the subreddit. The transfer by Robinhood was extremely controversial, with many individuals accusing the brokerage of defending the pursuits of institutional buyers over particular person retail buyers. robinhood gamestopclark theverge

On January 28, 2021, Reddit person u/deepfakes posted a thread on the WallStreetBets subreddit titled “Gamestonk!!!” The thread mentioned how Robinhood, a web-based broker-dealer and inventory buying and selling platform, had restricted the buying and selling of GameStop and different “meme shares” that have been widespread on the WallStreetBets subreddit. This triggered a big lower within the share worth of GameStop. robinhood gamestopclark theverge

Prior to now yr, Redditors have upended the inventory market, inflicting huge losses for brief sellers. The latest instance is the battle between Robinhood and GameStop.

On one aspect is Robinhood, a commission-free buying and selling app that has democratized investing for a brand new technology of merchants. On the opposite aspect is GameStop, a struggling brick-and-mortar retailer that has develop into the goal of a brief squeeze by Redditors.

Paul David
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