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Cut The Check: Robinhood Free Trading Stock App Trends On Twitter After Social Media Users Accuse Them Of Robbing From The Poor!


Social media users are currently calling out the popular free stock-trading app of Robinhood after the platform put a direct stop on the purchasing of major profitable profiles such as Game Stop and AMC Entertainment Holdings!

Here’s what we know; Robinhood decided to take action and stop all buying and trading of specified stocks after a group of Reddit users deriving from Wall Street Bets attempted to mix things up drastically and drove up the stock prices for a couple of companies.

Basically meaning that a few amateurs created their very own algorithm in the stock world mainly Wall Street and created a major frenzy. Robinhood is usually praised for allowing the purchasing of stocks without fees which is a easy way to allow prices to go way up.

However the app has now set a directive to block the purchasing and trading of those highlighted stocks recently under the guidelines of “recent volatility,” noting that users can close out their position but cannot buy more stock reports Buzz Feed.

“We continuously monitor the markets and make changes where necessary. In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AMC, $BB, $BBBY, $EXPR, $GME, $KOSS, $NAKD and $NOM. we also raised margin requirements for certain securities,” read a statement from the app.

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