Reddit rally for GME stock, Robinhood closes trading.

Interested to see opinions. As a response to the extreme and perhaps dangerous 2400% rally of GME / Gamestop over the last fwe days, Robinhood pulled the stock entirely from the platform, only allowing users to close positions & not open long or short positions.

A plaintiff from r/wallstreetbets has filed a class-action suit accusing Robinhood of market manipulation. A number of people have come forward in support of the meme trading community stating that even when trading is dangerous and illogical, the free market should facilitate it.

What do we think - should the markets be truly free even in situations like this or should the markets be managed to stop what has been called a 'reddit ponzi scheme'?

Wish I knew about this Reddit before all this started man whoever invest in GameStop made alot

29-01-2021, 05:10 AM

Putt Wrote: Interested to see opinions. As a response to the extreme and perhaps dangerous 2400% rally of GME / Gamestop over the last fwe days, Robinhood pulled the stock entirely from the platform, only allowing users to close positions & not open long or short positions.

A plaintiff from r/wallstreetbets has filed a class-action suit accusing Robinhood of market manipulation. A number of people have come forward in support of the meme trading community stating that even when trading is dangerous and illogical, the free market should facilitate it.

What do we think - should the markets be truly free even in situations like this or should the markets be managed to stop what has been called a 'reddit ponzi scheme'?

I think it's pretty fair to let people do what they want within the rules set by the market itself, hedgefunds are just super salty right now

29-01-2021, 09:11 AM

Uproarca Wrote: Wish I knew about this Reddit before all this started man whoever invest in GameStop made alot

same here lol

I believe the restrictions put in place by Robinhood were because the DTCC was forcing them to invest more money as collateral, right? After all weren't most people buying gamestop stocks on there?
I remember reading a bloomberg article about this.