Robinhood Blocking Users From Purchasing Certain Stocks Is So Universally Enraging That AOC And Ted Cruz Are On The Same Side Of An Issue, For Once

Robinhood Blocking Users From Purchasing Certain Stocks Is So Universally Enraging That AOC And Ted Cruz Are On The Same Side Of An Issue, For Once

Uproxx - News·2021-01-29 07:00

In an exceptionally rare move, Democratic Congresswoman Alexandria Ocasio-Cortez and Republican Senator Ted Cruz agree that there needs to be an investigation into the investment app Robinhood after it made a controversial decision to stop retail investors from buying GameStop stocks on Thursday morning. Citing “recent volatility,” Robinhood is restricting transactions for stocks that have been targeted by Reddit users. As of this writing, stocks like GameStop and AMC can’t be purchased, however, they can be sold. It’s this odd discrepancy that caught the attention of AOC who tweeted out a link to a Motherboard article on Robinhood’s abrupt move to control the chaotic market situation.

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