Robinhood Shenanigans Draw the Ire of Congressional Democrats

Rep. Alexandria Ocasio-Cortez, linking to Motherboard’s story on Robinhood blocking its users from buying GameStop:

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.

Rep. Rashida Tlaib:

This is beyond absurd. @FSCDems need to have a hearing on Robinhood’s market manipulation. They’re blocking the ability to trade to protect Wall St. hedge funds, stealing millions of dollars from their users to protect people who’ve used the stock market as a casino for decades.

There might be bipartisan outrage in Congress targeting Robinhood’s actions, if this tweet from Ted Cruz is indicative. (Don’t miss AOC’s response.)

Thursday, 28 January 2021